4. Refer back to Schedule A, See the small print under Interest You Paid Caution: Your mortgage interest deduction may be limited (see instructions). Explain what the IRS means by that statement. Be specific.

5. As a result of the TCJA (Tax Cuts and Jobs Act of 2017), more taxpayers will take the standard deduction over the itemized deductions. State three reasons for this. Two reasons are based on the work you did in this assignment. The third reason has to do with the size of the standard deduction (see Forms 1040 for 2017 and 2019; be specific).

5a. Reason 1

5b Reason 2

5c Reason 3

4. Refer back to Schedule A, See the small print under Interest You Paid Caution: Your mortgage interest deduction may be limited (see instructions). Explain what the IRS means by that statement. Be specific.

5. As a result of the TCJA (Tax Cuts and Jobs Act of 2017), more taxpayers will take the standard deduction over the itemized deductions. State three reasons for this. Two reasons are based on the work you did in this assignment. The third reason has to do with the size of the standard deduction (see Forms 1040 for 2017 and 2019; be specific).

5a. Reason 1

5b Reason 2

5c Reason 3