Discuss the various Schedule A Itemized Deductions, the Standard Deductions for each Filing Status, the Additional Standard Deduction, and those taxpayers eligible for the Qualified Business Income Deduction.

For Tax Years 2019 and 2020, taxpayers can claim medical and dental expenses that exceed 7.5% of AGI when they itemize on a Schedule A.

The citation for the new tax law is the Further Consolidated Appropriations Act, 2020 (Public Law 116-94), which states:

SEC. 103. REDUCTION IN MEDICAL EXPENSE DEDUCTION FLOOR.

(a) IN GENERAL.Section 213(f) is amended to read as follows: (f) TEMPORARY SPECIAL RULE.In the case of taxable years beginning before January 1, 2021, subsection (a) shall be applied with respect to a taxpayer by substituting 7.5 percent for 10 percent.... (c) EFFECTIVE DATE.The amendments made by this section shall apply to taxable years ending after December 31, 2018.