Six tax deductions you’ll lose on your 2018 return

• The Tax Cuts and Jobs Act raised the standard deduction, did away with personal exemptions and curbed a slate of itemized deductions.

• Before the tax overhaul, about 30 percent of taxpayers took itemized deductions, according to the Tax Policy Center.

• The 2017 tax year marked the last time you could file under the old code, so 2018 tax returns will follow the new rules.

If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed.

That’s because the Tax Cuts and Jobs Act placed steep limits on itemized deductions, including lesser-known breaks for the fees you pay your tax preparer and unreimbursed employee business expenses.

The new tax law also eliminated personal exemptions and nearly doubled the standard deduction to about $12,000 for singles and $24,000 for married joint filers — which will likely result in fewer people taking itemized deductions on their 2018 returns.

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