State income taxes or any other taxes allowed for federal purposes in lieu of state income tax are not deductible on your itemized deductions schedule. This also includes the non-refundable income tax withheld on gaming winnings. See instructions for Schedule A (Itemized Deductions). Married individuals having separate income and filing a combined return may divide their itemized deductions in any manner they choose for column A and column B. Mississippi Gaming Losses are not deductible on Mississippi itemized deductions.
Mississippi will follow the federal TCJA changes listed below:
• Moving expenses will no longer be deductible except for active duty members of the military based on military orders. Miss. Code Ann. §27-7-18 (2) provided the deduction from Mississippi income taxes in accordance with federal provisions.
• Medical expenses that exceed 7.5% of federal adjusted gross income (AGI) are allowable as an itemized deduction.
• State and local tax deduction is limited to $10,000
• The mortgage interest deduction is limited to the interest on loans up to $750,000 of acquisition indebtedness. Interest on home equity loans are deductible if used for home improvements only.
• The limitation on the amount of cash contributions allowable as a charitable contribution has increased from 50% to 60%. Seating for college athletic events is no longer allowable as charitable contribution.
• Casualty and theft losses are only deductible for losses attributable to federally declared disaster areas.
• Miscellaneous itemized deductions subject to 2% of federal AGI are suspended for tax years 2018 through 2025.
• The overall limitation on itemized deductions (the Pease Limitation) is suspended until 2025.
Filing Status Exemption Standard Deduction
Married – Filing Joint or Combined Return
Married – Spouse Died 2018
Married – Filing Separate Returns
Head of Family