The AICPA is requesting immediate guidance regarding the section 68 limitation on itemized deductions (LID) and submitting comments related to Trump accounts. The letter requests clarification of the new 2/37ths limitation on itemized deductions for individuals, trusts, and estates. Additionally, we are submitting comments related to gift tax reporting for contributions to Trump accounts, as well as requesting guidance regarding the election to open and the maintenance of Trump accounts.
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AICPA Comments Requesting IRS Guidance on Newly Enacted Limitation on Itemized Deductions and Trump Accounts
Feb 25, 2026 · 380.4 KB Download
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Download the AICPA Comments Request IRS Guidance on Newly Enacted Limitation on Itemized Deductions and Trump Accounts
File name: AICPA comments requesting AICPA comments on IRS guidance for limitation on itemized deductions and Trump accounts.pdf
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