HR 6760 RFS 
(c) APPLICATION TO TRUSTS AND ESTATES.—Sec-
tion 642(b) is amended— 
(1) in paragraph (2)(C)— 
(A) in clause (i), by striking ‘‘the exemp-
tion amount under section 151(d)’’ and all that 
follows through the period at the end and in-
serting ‘‘the dollar amount in effect under sec-
tion 7706(d)(1)(B).’’, and 
(B) by striking clause (iii), 
(2) by striking paragraph (3), and 
(3) by striking ‘‘DEDUCTION FOR PERSONAL 
EXEMPTION’’ in the heading thereof and inserting 
‘‘BASIC DEDUCTION’’. 
(d) APPLICATION TO NONRESIDENT ALIENS.—Sec-
tion 873(b) is amended by striking paragraph (3). 
(e) MODIFICATION OF RETURN REQUIREMENT.— 
(1) 
IN
GENERAL.—Section 
6012(a)(1) 
is 
amended to read as follows: 
‘‘(1) Every individual who has gross income for 
the taxable year, except that a return shall not be 
required of— 
‘‘(A) an individual who is not married (de-
termined by applying section 7703) and who 
has gross income for the taxable year which 
does not exceed the standard deduction applica-
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ble to such individual for such taxable year 
under section 63, or 
‘‘(B) an individual entitled to make a joint 
return if— 
‘‘(i) the gross income of such indi-
vidual, when combined with the gross in-
come of such individual’s spouse, for the 
taxable year does not exceed the standard 
deduction which would be applicable for 
such taxable year under section 63 if such 
individual and such individual’s spouse 
made a joint return, 
‘‘(ii) such individual’s spouse does not 
make a separate return, and 
‘‘(iii) neither such individual nor such 
individual’s spouse is an individual de-
scribed in section 63(c)(4) who has income 
(other than earned income) in excess of the 
amount 
in 
effect 
under 
section 
63(c)(4)(A).’’. 
(2) 
BANKRUPTCY
ESTATES.—Section 
6012(a)(8) is amended by striking ‘‘the sum of the 
exemption amount plus the basic standard deduction 
under section 63(c)(2)(C)’’ and inserting ‘‘the stand-
ard deduction in effect under section 63(c)(1)(B)’’. 
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(3) CONFORMING AMENDMENT.—Section 6012 
is amended by striking subsection (f). 
(f) CONFORMING AMENDMENTS.— 
(1) Section 1(f)(7), as amended by section 121, 
is amended— 
(A) by striking ‘‘, section 68(b)(2) or sec-
tion 151(d)(4)’’ in subparagraph (A) and in-
serting ‘‘or section 68(b)(2)’’, and 
(B) by striking ‘‘(other than with respect 
to section 151(d)(4)(A))’’ in subparagraph (B). 
(2) Section 1(g)(5)(A) is amended by striking 
‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 
(3) Section 2(a)(1)(B) is amended— 
(A) by striking ‘‘section 152’’ and insert-
ing ‘‘section 7706’’, and 
(B) by striking ‘‘with respect to whom the 
taxpayer is entitled to a deduction for the tax-
able year under section 151’’ and inserting 
‘‘whose TIN is included on the taxpayer’s re-
turn of tax for the taxable year’’. 
(4) Section 2(b)(1)(A)(i) is amended— 
(A) in the matter preceding subclause 
(I)— 
(i) by striking ‘‘section 152(c)’’ and 
inserting ‘‘section 7706(c)’’, and 
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(ii) by striking ‘‘section 152(e)’’ and 
inserting ‘‘section 7706(e)’’, and 
(B) in subclause (II), by striking ‘‘section 
152(b)(2) or 152(b)(3)’’ and inserting ‘‘section 
7706(b)(2) or 7706(b)(3)’’. 
(5) Section 2(b)(1)(A)(ii) is amended by strik-
ing ‘‘if the taxpayer is entitled to a deduction for the 
taxable year for such person under section 151’’ and 
inserting ‘‘if the taxpayer included such person’s 
TIN on the return of tax for the taxable year’’. 
(6) Section 2(b)(1)(B) is amended by striking 
‘‘if the taxpayer is entitled to a deduction for the 
taxable year for such father or mother under section 
151’’ and inserting ‘‘if such father or mother is a 
dependent of the taxpayer and the taxpayer included 
such father or mother’s TIN on the return of tax for 
the taxable year’’. 
(7) Section 2(b)(3)(B) is amended— 
(A) by striking ‘‘section 152(d)(2)’’ in 
clause (i) and inserting ‘‘section 7706(d)(2)’’, 
and 
(B) by striking ‘‘section 152(d)’’ in clause 
(ii) and inserting ‘‘section 7706(d)’’. 
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(8) Section 21(b)(1)(A) is amended by striking 
‘‘section 
152(a)(1)’’ 
and 
inserting 
‘‘section 
7706(a)(1)’’. 
(9) Section 21(b)(1)(B) is amended by striking 
‘‘section 152’’ and inserting ‘‘section 7706’’. 
(10) Section 21(e)(5)(A) is amended by striking 
‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 
(11) Section 21(e)(5) is amended by striking 
‘‘section 152(e)(4)(A)’’ in the matter following sub-
paragraph 
(B) 
and 
inserting 
‘‘section 
7706(e)(4)(A)’’. 
(12) Section 21(e)(6)(A) is amended to read as 
follows: 
‘‘(A) who is a dependent of either the tax-
payer or the taxpayer’s spouse for the taxable 
year, or’’. 
(13) Section 21(e)(6)(B) is amended by striking 
‘‘section 
152(f)(1)’’ 
and 
inserting 
‘‘section 
7706(f)(1)’’. 
(14) Section 25A(f)(1)(A)(iii) is amended by 
striking ‘‘with respect to whom the taxpayer is al-
lowed a deduction under section 151’’. 
(15) Section 25A(g)(3) is amended by striking 
‘‘If a deduction under section 151 with respect to an 
individual is allowed to another taxpayer’’ and in-
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serting ‘‘If an individual is a dependent of another 
taxpayer’’. 
(16) Section 25B(c)(2)(A) is amended by strik-
ing ‘‘any individual with respect to whom a deduc-
tion under section 151 is allowed to another tax-
payer’’ and inserting ‘‘any individual who is a de-
pendent of another taxpayer’’. 
(17) Section 25B(c)(2)(B) is amended by strik-
ing ‘‘section 152(f)(2)’’ and inserting ‘‘section 
7706(f)(2)’’. 
(18) Section 32(c)(1)(A)(ii)(III) is amended by 
striking ‘‘a dependent for whom a deduction is al-
lowable under section 151 to another taxpayer’’ and 
inserting ‘‘a dependent of another taxpayer’’. 
(19) Section 32(c)(3) is amended— 
(A) in subparagraph (A)— 
(i) by striking ‘‘section 152(c)’’ and 
inserting ‘‘section 7706(c)’’, and 
(ii) by striking ‘‘section 152(e)’’ and 
inserting ‘‘section 7706(e)’’, 
(B) in subparagraph (B), by striking ‘‘un-
less the taxpayer is entitled to a deduction 
under section 151 for such taxable year with re-
spect to such individual (or would be so entitled 
but for section 152(e)’’ and inserting ‘‘if such 
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(A) by striking ‘‘section 152(d)(2)’’ and in-
serting ‘‘section 7706(d)(2)’’, and 
(B) by striking ‘‘section 152(d)(2)(H)’’ 
and inserting ‘‘section 7706(d)(2)(H)’’. 
(29) Section 51(i)(1) is amended— 
(A) by striking ‘‘section 152(d)(2)’’ in sub-
paragraphs (A) and (B) and inserting ‘‘section 
7706(d)(2)’’, and 
(B) by striking ‘‘section 152(d)(2)(H)’’ in 
subparagraph 
(C) 
and 
inserting 
‘‘section 
7706(d)(2)(H)’’. 
(30) Section 56(b)(1)(D), as amended by the 
preceding provisions of this Act, is amended— 
(A) by striking ‘‘, the deduction for per-
sonal exemptions under section 151,’’, and 
(B) by striking ‘‘AND
DEDUCTION
FOR 
PERSONAL EXEMPTIONS’’ in the heading there-
of. 
(31) Section 63(b) is amended by adding ‘‘and’’ 
at the end of paragraph (1), by striking paragraph 
(2), and by redesignating paragraph (3) as para-
graph (2). 
(32) Section 63(c), as amended by section 121, 
is amended by striking paragraph (3) and redesig-
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nating paragraphs (4), (5), and (6) as paragraphs 
(3), (4), and (5), respectively. 
(33) Section 63(c)(4), as redesignated, is 
amended— 
(A) by striking ‘‘with respect to whom a 
deduction under section 151 is allowable to’’ 
and inserting ‘‘who is a dependent of’’, and 
(B) by striking ‘‘CERTAIN’’ in the heading 
thereof. 
(34) Section 63(d) is amended by adding ‘‘and’’ 
at the end of paragraph (1), by striking paragraph 
(2), and by redesignating paragraph (3) as para-
graph (2). 
(35) Section 63(f) is amended by striking all 
that precedes paragraph (3) and inserting the fol-
lowing: 
‘‘(f) ADDITIONAL STANDARD DEDUCTION FOR THE 
AGED AND BLIND.— 
‘‘(1) IN GENERAL.—For purposes of subsection 
(c)(1), the additional standard deduction is, with re-
spect to a taxpayer for a taxable year, the sum of— 
‘‘(A) $600 if the taxpayer has attained age 
65 before the close of such taxable year, and 
‘‘(B) $600 if the taxpayer is blind as of 
the close of such taxable year. 
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‘‘(2) 
APPLICATION
TO
MARRIED
INDIVID-
UALS.— 
‘‘(A) JOINT RETURNS.—In the case of a 
joint return, paragraph (1) shall be applied sep-
arately with respect to each spouse. 
‘‘(B) CERTAIN MARRIED INDIVIDUALS FIL-
ING SEPARATELY.—In the case of a married in-
dividual filing a separate return, if— 
‘‘(i) the spouse of such individual has 
no gross income for the calendar year in 
which the taxable year of such individual 
begins, 
‘‘(ii) such spouse is not the dependent 
of another taxpayer for a taxable year be-
ginning in the calendar year in which such 
individual’s taxable year begins, and 
‘‘(iii) the TIN of such spouse is in-
cluded on such individual’s return of tax 
for the taxable year, 
the additional standard deduction shall be de-
termined in the same manner as if such indi-
vidual and such individual’s spouse filed a joint 
return.’’. 
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(36) Section 63(f)(3) is amended by striking 
‘‘paragraphs (1) and (2)’’ and inserting ‘‘subpara-
graphs (A) and (B) of paragraph (1)’’. 
(37) Section 72(t)(2)(D)(i)(III) is amended by 
striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 
(38) Section 72(t)(7)(A)(iii) is amended by 
striking ‘‘section 152(f)(1)’’ and inserting ‘‘section 
7706(f)(1)’’. 
(39) Section 105(b) is amended— 
(A) by striking ‘‘as defined in section 152’’ 
and inserting ‘‘as defined in section 7706’’, 
(B) by striking ‘‘section 152(f)(1)’’ and in-
serting ‘‘section 7706(f)(1)’’ and 
(C) by striking ‘‘section 152(e)’’ and in-
serting ‘‘section 7706(e)’’. 
(40) Section 105(c)(1) is amended by striking 
‘‘section 152’’ and inserting ‘‘section 7706’’. 
(41) Section 125(e)(1)(D) is amended by strik-
ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 
(42) Section 129(c)(1) is amended to read as 
follows: 
‘‘(1) who is a dependent of such employee or of 
such employee’s spouse, or’’. 
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(43) Section 129(c)(2) is amended by striking 
‘‘section 
152(f)(1)’’ 
and 
inserting 
‘‘section 
7706(f)(1)’’. 
(44) Section 132(h)(2)(B) is amended— 
(A) by striking ‘‘section 152(f)(1)’’ and in-
serting ‘‘section 7706(f)(1)’’, and 
(B) by striking ‘‘section 152(e)’’ and in-
serting ‘‘section 7706(e)’’. 
(45) Section 139D(c)(5) is amended by striking 
‘‘section 152’’ and inserting ‘‘section 7706’’. 
(46) Section 139E(c)(2) is amended by striking 
‘‘section 152’’ and inserting ‘‘section 7706’’. 
(47) Section 162(l)(1)(D) is amended by strik-
ing ‘‘section 152(f)(1)’’ and inserting ‘‘section 
7706(f)(1)’’. 
(48) Section 170(g)(1) is amended by striking 
‘‘section 152’’ and inserting ‘‘section 7706’’. 
(49) Section 170(g)(3) is amended by striking 
‘‘section 
152(d)(2)’’ 
and 
inserting 
‘‘section 
7706(d)(2)’’. 
(50) Section 172(d) is amended by striking 
paragraph (3). 
(51) Section 213(a) is amended by striking 
‘‘section 152’’ and inserting ‘‘section 7706’’. 
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(52) Section 213(d)(5) is amended by striking 
‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 
(53) Section 213(d)(11) is amended by striking 
‘‘section 152(d)(2)’’ in the matter following subpara-
graph (B) and inserting ‘‘section 7706(d)(2)’’. 
(54) Section 220(b)(6) is amended by striking 
‘‘with respect to whom a deduction under section 
151 is allowable to’’ and inserting ‘‘who is a depend-
ent of’’. 
(55) Section 220(d)(2)(A) is amended by strik-
ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 
(56) Section 221(d)(4) is amended by striking 
‘‘section 152’’ and inserting ‘‘section 7706’’. 
(57) Section 222(c)(3) is amended by striking 
‘‘with respect to whom a deduction under section 
151 is allowable to’’ and inserting ‘‘who is a depend-
ent of’’. 
(58) Section 223(b)(6) is amended by striking 
‘‘with respect to whom a deduction under section 
151 is allowable to’’ and inserting ‘‘who is a depend-
ent of’’. 
(59) Section 223(d)(2)(A) is amended by strik-
ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 
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(60) Section 401(h) is amended by striking 
‘‘section 152(f)(1)’’ in the last sentence and insert-
ing ‘‘section 7706(f)(1)’’. 
(61) Section 402(l)(4)(D) is amended by strik-
ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 
(62) Section 409A(a)(2)(B)(ii)(I) is amended 
by striking ‘‘section 152(a)’’ and inserting ‘‘section 
7706(a)’’. 
(63) Section 441(f)(2)(B)(iii) is amended by 
striking ‘‘, but only the adjusted amount of the de-
ductions for personal exemptions as described in sec-
tion 443(c)’’. 
(64) Section 443 is amended— 
(A) in subsection (b)— 
(i) by striking paragraph (3), and 
(ii) by striking ‘‘modified taxable in-
come’’ and inserting ‘‘taxable income’’ each 
place such term appears, 
(B) by striking subsection (c), and 
(C) by redesignating subsections (d) and 
(e) as subsections (c) and (d), respectively. 
(65) Section 501(c)(9) is amended by striking 
‘‘section 
152(f)(1)’’ 
and 
inserting 
‘‘section 
7706(f)(1)’’. 
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(66) Section 529(e)(2)(B) is amended by strik-
ing ‘‘section 152(d)(2)’’ and inserting ‘‘section 
7706(d)(2)’’. 
(67) Section 529A(e)(4) is amended— 
(A) by striking ‘‘section 152(d)(2)(B)’’ and 
inserting ‘‘section 7706(d)(2)(B)’’, and 
(B) by striking ‘‘section 152(f)(1)(B)’’ and 
inserting ‘‘section 7706(f)(1)(B)’’. 
(68) Section 643(a)(2) is amended— 
(A) by striking ‘‘(relating to deduction for 
personal exemptions)’’ and inserting ‘‘(relating 
to basic deduction)’’, and 
(B) by striking ‘‘DEDUCTION
FOR
PER-
SONAL EXEMPTION’’ in the heading thereof and 
inserting ‘‘BASIC DEDUCTION’’. 
(69) Section 703(a)(2) is amended by striking 
subparagraph (A) and by redesignating subpara-
graphs (B) through (F) as subparagraphs (A) 
through (E), respectively. 
(70) Section 874 is amended by striking sub-
section (b) and by redesignating subsection (c) as 
subsection (b). 
(71) Section 891 is amended by striking ‘‘under 
section 151 and’’. 
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(72) Section 904(b)(1) is amended to read as 
follows: 
‘‘(1) DEDUCTION FOR ESTATES AND TRUSTS.— 
For purposes of subsection (a), the taxable income 
of an estate or trust shall be computed without any 
deduction under section 642(b).’’. 
(73) Section 931(b)(1) is amended to read as 
follows: 
‘‘(1) any deduction from gross income, or’’. 
(74) Section 933 is amended— 
(A) by striking ‘‘as a deduction from his 
gross income any deductions (other than the de-
duction under section 151, relating to personal 
exemptions)’’ in paragraph (1) and inserting 
‘‘any deduction from gross income’’, and 
(B) by striking ‘‘as a deduction from his 
gross income any deductions (other than the de-
duction for personal exemptions under section 
151)’’ in paragraph (2) and inserting ‘‘any de-
duction from gross income’’. 
(75) Section 1212(b)(2)(B)(ii) is amended to 
read as follows: 
‘‘(ii) in the case of an estate or trust, 
the deduction allowed for such year under 
section 642(b).’’. 
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(76) Section 1361(c)(1)(C) is amended by strik-
ing ‘‘section 152(f)(1)(C)’’ and inserting ‘‘section 
7706(f)(1)(C)’’. 
(77) Section 1402(a) is amended by striking 
paragraph (7). 
(78) Section 2032A(c)(7)(D) is amended by 
striking ‘‘section 152(f)(2)’’ and inserting ‘‘section 
7706(f)(2)’’. 
(79) Section 3402(m)(1) is amended by striking 
‘‘other than the deductions referred to in section 
151 and’’. 
(80) Section 3402(r)(2) is amended by striking 
‘‘the sum of—’’ and all that follows and inserting 
‘‘the basic standard deduction (as defined in section 
63(c)) for an individual to whom section 63(c)(2)(C) 
applies.’’. 
(81) Section 5000A(b)(3)(A) is amended by 
striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 
(82) Section 5000A(c)(4)(A) is amended by 
striking ‘‘the number of individuals for whom the 
taxpayer is allowed a deduction under section 151 
(relating to allowance of deduction for personal ex-
emptions) for the taxable year’’ and inserting ‘‘the 
sum of 1 (2 in the case of a joint return) plus the 
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number of the taxpayer’s dependents for the taxable 
year’’. 
(83) Section 6013(b)(3)(A) is amended— 
(A) by striking ‘‘had less than the exemp-
tion amount of gross income’’ in clause (ii) and 
inserting ‘‘had no gross income’’, 
(B) by striking ‘‘had gross income of the 
exemption amount or more’’ in clause (iii) and 
inserting ‘‘had any gross income’’, and 
(C) by striking the flush language fol-
lowing clause (iii). 
(84) Section 6014(a) is amended by striking 
‘‘section 6012(a)(1)(C)(i)’’ and inserting ‘‘section 
6012(a)(1)(B)(iii)’’. 
(85) Section 6014(b)(4) is amended by striking 
‘‘63(c)(5)’’ and inserting ‘‘63(c)(4)’’. 
(86) Section 6103(l)(21)(A)(iii) is amended to 
read as follows: 
‘‘(iii) the number of the taxpayer’s de-
pendents,’’. 
(87) Section 6213(g)(2)(H) is amended by 
striking ‘‘section 21 (relating to expenses for house-
hold and dependent care services necessary for gain-
ful employment) or section 151 (relating to allow-
ance of deductions for personal exemptions)’’ and in-
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serting ‘‘subsection (a)(1)(B), (b)(1)(A)(ii), or 
(b)(1)(B) of section 2 or section 21, 35(d)(1)(B), 
36B(b)(3)(B), or 63(f)(2)(B)’’. 
(88) Section 6334(d) is amended— 
(A) by amending paragraph (2) to read as 
follows: 
‘‘(2) EXEMPT AMOUNT.— 
‘‘(A) IN GENERAL.—For purposes of para-
graph (1), the term ‘exempt amount’ means an 
amount equal to— 
‘‘(i) the sum of the amount deter-
mined under subparagraph (B) and the 
standard deduction, divided by 
‘‘(ii) 52. 
‘‘(B) AMOUNT
DETERMINED.—For pur-
poses of subparagraph (A), the amount deter-
mined under this subparagraph is— 
‘‘(i) the dollar amount in effect under 
section 7706(d)(1)(B), multiplied by 
‘‘(ii) the number of the taxpayer’s de-
pendents for the taxable year in which the 
levy occurs. 
‘‘(C) VERIFIED STATEMENT.—Unless the 
taxpayer submits to the Secretary a written and 
properly verified statement specifying the facts 
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(96) The table of parts for subchapter B of 
chapter 1 is amended by striking the item relating 
to part V. 
(97) The table of sections for chapter 79 is 
amended by adding at the end the following new 
item: 
‘‘Sec. 7706. Dependent defined.’’. 
(g) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 142. LIMITATION ON DEDUCTION FOR STATE AND 
LOCAL, ETC. TAXES. 
(a) IN GENERAL.—Section 164(b)(6) is amended by 
striking all that precedes ‘‘The preceding sentence’’ and 
inserting the following: 
‘‘(6) LIMITATION
ON
INDIVIDUAL
DEDUC-
TIONS.—In the case of an individual— 
‘‘(A) no deduction shall be allowed under 
this chapter for foreign real property taxes paid 
or accrued during the taxable year, and 
‘‘(B) the aggregate amount of the deduc-
tion allowed under this chapter for taxes de-
scribed in paragraphs (1), (2), and (3) of sub-
section (a) and paragraph (5) of this subsection 
paid or accrued by the taxpayer during the tax-
able year shall not exceed $10,000 ($5,000 in 
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the case of a married individual filing a sepa-
rate return).’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 143. LIMITATION ON DEDUCTION FOR QUALIFIED RES-
IDENCE INTEREST. 
(a) INTEREST ON HOME EQUITY INDEBTEDNESS.— 
Section 163(h)(3)(A) is amended by striking ‘‘during the 
taxable year on’’ and all that follows through ‘‘residence 
of the taxpayer.’’ and inserting ‘‘during the taxable year 
on acquisition indebtedness with respect to any qualified 
residence of the taxpayer.’’. 
(b) LIMITATION ON ACQUISITION INDEBTEDNESS.— 
Section 163(h)(3)(B)(ii) is amended to read as follows: 
‘‘(ii) 
LIMITATION.—The 
aggregate 
amount treated as acquisition indebtedness 
for any period shall not exceed the excess 
(if any) of— 
‘‘(I) $750,00 ($375,000, in the 
case of a married individual filing a 
separate return), over 
‘‘(II) the sum of the aggregate 
outstanding pre-October 13, 1987, in-
debtedness (as defined in subpara-
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graph (D)) plus the aggregate out-
standing pre-December 15, 2017, in-
debtedness (as defined in subpara-
graph (C)).’’. 
(c) TREATMENT OF INDEBTEDNESS INCURRED ON 
OR BEFORE DECEMBER 15, 2017.—Section 163(h)(3)(C) 
is amended to read as follows: 
‘‘(C) TREATMENT OF INDEBTEDNESS IN-
CURRED ON OR BEFORE DECEMBER 15, 2017.— 
‘‘(i) IN GENERAL.—In the case of any 
pre-December 15, 2017, indebtedness, sub-
paragraph (B)(ii) shall not apply and the 
aggregate amount of such indebtedness 
treated as acquisition indebtedness for any 
period shall not exceed the excess (if any) 
of— 
‘‘(I) $1,000,000 ($500,000, in 
the case of a married individual filing 
a separate return), over 
‘‘(II) the aggregate outstanding 
pre-October 13, 1987, indebtedness 
(as defined in subparagraph (D)). 
‘‘(ii) PRE-DECEMBER
15, 2017, IN-
DEBTEDNESS.—For purposes of this sub-
paragraph— 
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‘‘(I) IN
GENERAL.—The term 
‘pre-December 15, 2017, indebted-
ness’ means indebtedness (other than 
pre-October 13, 1987, indebtedness) 
incurred on or before December 15, 
2017. 
‘‘(II) BINDING
WRITTEN
CON-
TRACT EXCEPTION.—In the case of a 
taxpayer who enters into a written 
binding contract before December 15, 
2017, to close on the purchase of a 
principal residence before January 1, 
2018, and who purchases such resi-
dence before April 1, 2018, the term 
‘pre-December 15, 2017, indebted-
ness’ shall include indebtedness se-
cured by such residence. 
‘‘(iii) 
REFINANCING
INDEBTED-
NESS.— 
‘‘(I) IN GENERAL.—In the case 
of any indebtedness which is incurred 
to refinance indebtedness, such refi-
nanced indebtedness shall be treated 
for purposes of this subparagraph as 
incurred on the date that the original 
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indebtedness was incurred to the ex-
tent the amount of the indebtedness 
resulting from such refinancing does 
not exceed the amount of the refi-
nanced indebtedness. 
‘‘(II) LIMITATION ON PERIOD OF 
REFINANCING.—Subclause (I) shall 
not apply to any indebtedness after 
the expiration of the term of the origi-
nal indebtedness or, if the principal of 
such original indebtedness is not am-
ortized over its term, the expiration of 
the term of the 1st refinancing of 
such indebtedness (or if earlier, the 
date which is 30 years after the date 
of such 1st refinancing).’’. 
(d) COORDINATION WITH TREATMENT OF INDEBT-
EDNESS INCURRED ON OR BEFORE OCTOBER 13, 1987.— 
Section 163(h)(3)(D) is amended— 
(1) by striking clause (ii) and redesignating 
clauses (iii) and (iv) as clauses (ii) and (iii), respec-
tively, and 
(2) in clause (iii) (as so redesignated)— 
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(A) by striking ‘‘clause (iii)’’ in the matter 
preceding subclause (I) and inserting ‘‘clause 
(ii)’’, and 
(B) by striking ‘‘clause (iii)(I)’’ in sub-
clauses (I) and (II) and inserting ‘‘clause 
(ii)(I)’’. 
(e) COORDINATION WITH EXCLUSION OF INCOME 
FROM
DISCHARGE
OF
INDEBTEDNESS.—Section 
108(h)(2) 
is 
amended 
by 
striking 
‘‘$1,000,000 
($500,000’’ and inserting ‘‘$750,000 ($375,000’’. 
(f) CONFORMING AMENDMENT.—Section 163(h)(3) 
is amended by striking subparagraph (F). 
(g) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 144. MODIFICATION OF DEDUCTION FOR PERSONAL 
CASUALTY LOSSES. 
(a) IN GENERAL.—Section 165(h)(5)(A) is amended 
by striking ‘‘in a taxable year beginning after December 
31, 2017, and before January 1, 2026,’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 165(h)(5)(B) is amended by strik-
ing ‘‘for any taxable year to which subparagraph (A) 
applies’’. 
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(2) Section 165(h)(5) is amended by striking 
‘‘FOR TAXABLE YEARS 2018 THROUGH 2025’’ in the 
heading thereof and inserting ‘‘TO LOSSES ATTRIB-
UTABLE TO FEDERALLY DECLARED DISASTERS’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to losses sustained in taxable years 
beginning after December 31, 2017. 
SEC. 145. TERMINATION OF MISCELLANEOUS ITEMIZED DE-
DUCTIONS. 
(a) IN GENERAL.—Section 67 is amended— 
(1) by amending subsection (a) to read as fol-
lows: 
‘‘(a) IN GENERAL.—In the case of an individual, mis-
cellaneous itemized deductions shall not be allowed.’’, and 
(2) by striking subsection (g). 
(b) MOVEMENT
OF
DEFINITION
OF
ADJUSTED 
GROSS INCOME FOR ESTATES AND TRUSTS.— 
(1) Section 67 is amended by striking sub-
section (e). 
(2) Section 641 is amended by adding at the 
end the following new subsection: 
‘‘(d) COMPUTATION OF ADJUSTED GROSS INCOME.— 
For purposes of this title, the adjusted gross income of 
an estate or trust shall be computed in the same manner 
as in the case of an individual, except that— 
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‘‘(1) the deductions for costs which are paid or 
incurred in connection with the administration of the 
estate or trust and which would not have been in-
curred if the property were not held in such trust or 
estate, and 
‘‘(2) the deductions allowable under sections 
642(b), 651, and 661, 
shall be treated as allowable in arriving at adjusted gross 
income.’’. 
(c) CONFORMING AMENDMENTS.— 
(1) Section 56(b)(1)(A) is amended to read as 
follows: 
‘‘(A) 
CERTAIN
TAXES.—No 
deduction 
(other than a deduction allowable in computing 
adjusted gross income) shall be allowed for any 
taxes described in paragraph (1), (2), or (3) of 
section 164(a) or clause (ii) of section 
164(b)(5)(A).’’. 
(2) Section 56(b)(1)(C), as amended by the 
preceding provisions of this Act, is amended by 
striking ‘‘subparagraph (A)(ii)’’ and inserting ‘‘sub-
paragraph (A)’’. 
(3) Section 62(a) is amended by striking ‘‘sub-
title’’ in the matter preceding paragraph (1) and in-
serting ‘‘title’’. 
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(4) Section 641(c)(2)(E) is amended to read as 
follows: 
‘‘(E) Section 642(c) shall not apply.’’. 
(5) Section 1411(a)(2) is amended by striking 
‘‘(as defined in section 67(e))’’. 
(6) Section 6654(d)(1)(C) is amended by strik-
ing clause (iii). 
(7) Section 67 is amended in the heading, by 
striking ‘‘2-PERCENT FLOOR ON’’ and inserting 
‘‘DENIAL OF’’. 
(8) The table of sections for part 1 of sub-
chapter B of chapter 1 is amended by striking the 
item relating to section 67 and inserting the fol-
lowing new item: 
‘‘Sec. 67. Denial of miscellaneous itemized deductions.’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 146. REPEAL OF OVERALL LIMITATION ON ITEMIZED 
DEDUCTIONS. 
(a) IN GENERAL.—Part 1 of subchapter B of chapter 
1 is amended by striking section 68 (and the item relating 
to such section in the table of sections for such part). 
(b) CONFORMING AMENDMENTS.— 
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(1) Section 1(f)(7)(A), as amended by sections 
121 and 141, is amended by striking ‘‘or section 
68(b)(2)’’. 
(2) Section 56(b)(1), as amended by the pre-
ceding provisions of this Act, is amended by striking 
subparagraph (E). 
(3) Section 164(b)(5)(H)(ii)(III) is amended by 
striking ‘‘(as determined under section 68(b))’’. 
(4) Section 164(b)(5)(H) is amended by adding 
at the end the following new clause: 
‘‘(iii) 
APPLICABLE
AMOUNT
DE-
FINED.—For purposes of clause (ii), the 
term ‘applicable amount’ means— 
‘‘(I) $300,000 in the case of a 
joint return or a surviving spouse, 
‘‘(II) $275,000 in the case of a 
head of household, 
‘‘(III) $250,000 in the case of an 
individual who is not married and who 
is not a surviving spouse or head of 
household, and 
‘‘(IV) 1⁄2 the amount applicable 
under subclause (I) in the case of a 
married individual filing a separate 
return. 
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For purposes of this paragraph, marital 
status shall be determined under section 
7703. In the case of any taxable year be-
ginning in calendar years after 2017, each 
of the dollar amounts in this clause shall 
be increased by an amount equal to such 
dollar amount, multiplied by the cost-of-liv-
ing adjustment determined under section 
1(f)(3) for the calendar year in which the 
taxable year begins, determined by sub-
stituting ‘2012’ for ‘2016’ in subparagraph 
(A)(ii) thereof. If any amount after adjust-
ment under the preceding sentence is not 
a multiple of $50, such amount shall be 
rounded to the next lowest multiple of 
$50.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 147. TERMINATION OF EXCLUSION FOR QUALIFIED BI-
CYCLE COMMUTING REIMBURSEMENT. 
(a) IN GENERAL.—Section 132(f)(1) is amended by 
striking subparagraph (D). 
(b) CONFORMING AMENDMENTS.— 
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(1) Section 132(f)(2) is amended by adding 
‘‘and’’ at the end of subparagraph (A), striking ‘‘, 
and’’ at the end of subparagraph (B) and inserting 
a period, and striking subparagraph (C). 
(2) Section 132(f)(4) is amended by striking 
‘‘(other than a qualified bicycle commuting reim-
bursement)’’. 
(3) Section 132(f) is amended by striking para-
graph (8). 
(4) Section 274(l)(2) is amended by striking 
‘‘after December 31, 2017, and before January 1, 
2026’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 148. QUALIFIED MOVING EXPENSE REIMBURSEMENT 
EXCLUSION 
LIMITED 
TO 
MEMBERS 
OF 
ARMED FORCES. 
(a) IN GENERAL.—Section 132(g) is amended— 
(1) by striking ‘‘by an individual’’ in paragraph 
(1) and inserting ‘‘by a qualified military indi-
vidual’’, and 
(2) by striking paragraph (2) and inserting the 
following new paragraph: 
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‘‘(2) QUALIFIED
MILITARY
INDIVIDUAL.—For 
purposes of this subsection, the term ‘qualified mili-
tary individual’ means a member of the Armed 
Forces of the United States on active duty who 
moves pursuant to a military order and incident to 
a permanent change of station.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 149. DEDUCTION FOR MOVING EXPENSES LIMITED TO 
MEMBERS OF ARMED FORCES. 
(a) IN GENERAL.—Section 217 is amended— 
(1) by amending subsection (a) to read as fol-
lows: 
‘‘(a) DEDUCTION ALLOWED.—There shall be allowed 
as a deduction moving expenses paid or incurred during 
the taxable year by a member of the Armed Forces of the 
United States on active duty who moves pursuant to a 
military order and incident to a permanent change of sta-
tion.’’, 
(2) by striking subsections (c), (d), (f), and (g) 
and redesignating subsections (h), (i), (j), and (k) as 
subsections (c), (d), (f) and (g), respectively, and 
(3) by inserting after subsection (d), as so re-
designated, the following new subsection: 
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‘‘(e) EXPENSES FURNISHED IN KIND.—Any moving 
and storage expenses which are furnished in kind (or for 
which reimbursement or an allowance is provided, but only 
to the extent of the expenses paid or incurred)— 
‘‘(1) to such member, his spouse, or his depend-
ents, shall not be includible in gross income, and no 
reporting with respect to such expenses shall be re-
quired by the Secretary of Defense or the Secretary 
of Transportation, as the case may be, and 
‘‘(2) to such member’s spouse and his depend-
ents with regard to moving to a location other than 
the one to which such member moves (or from a lo-
cation other than the one from which such member 
moves), this section shall apply with respect to the 
moving expenses of his spouse and dependents as if 
his spouse commenced work as an employee at a new 
principal place of work at such location.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Subsections (d)(3)(C) and (e) of section 23 
are each amended by striking ‘‘section 217(h)(3)’’ 
and inserting ‘‘section 217(c)(3)’’. 
(2) Section 7872(f) is amended by striking 
paragraph (11). 
(3) Section 217 is amended in the heading by 
striking ‘‘MOVING
EXPENSES’’ and inserting 
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‘‘CERTAIN MOVING EXPENSES OF MEMBERS OF 
ARMED FORCES’’. 
(4) The table of sections for part VII of sub-
chapter B of chapter 1 is amended by striking the 
item relating to section 217 and inserting the fol-
lowing new item: 
‘‘Sec. 217. Certain moving expenses of members of Armed Forces.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
SEC. 150. LIMITATION ON WAGERING LOSSES. 
(a) IN GENERAL.—Section 165(d) is amended by 
striking ‘‘in the case of taxable years beginning after De-
cember 31, 2017, and before January 1, 2026,’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
Subtitle F—Increase in Estate and 
Gift Tax Exemption 
SEC. 151. INCREASE IN ESTATE AND GIFT TAX EXEMPTION. 
(a) IN GENERAL.—Section 2010(c)(3) is amended in 
subparagraph (A), by striking ‘‘$5,000,000’’ and inserting 
‘‘$10,000,000’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 2001(g) is amended to read as fol-
lows: 
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‘‘(g) MODIFICATIONS TO GIFT TAX PAYABLE TO RE-
FLECT DIFFERENT TAX RATES.—For purposes of apply-
ing subsection (b)(2) with respect to 1 or more gifts, the 
rates of tax under subsection (c) in effect at the decedent’s 
death shall, in lieu of the rates of tax in effect at the time 
of such gifts, be used both to compute— 
‘‘(1) the tax imposed by chapter 12 with respect 
to such gifts, and 
‘‘(2) the credit allowed against such tax under 
section 2505, including in computing— 
‘‘(A) the applicable credit amount under 
section 2505(a)(1), and 
‘‘(B) the sum of the amounts allowed as a 
credit for all preceding periods under section 
2505(a)(2).’’. 
(2) Section 2010(c)(3) is amended by striking 
subparagraph (C). 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to estates of decedents dying and 
gifts made after December 31, 2017. 
TITLE 
II—INCREASED 
EXEMP-
TION FOR ALTERNATIVE MIN-
IMUM TAX MADE PERMANENT 
SEC. 201. INCREASED EXEMPTION FOR INDIVIDUALS. 
(a) IN GENERAL.—Section 55(d)(1) is amended— 
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(1) by striking ‘‘$78,750’’ in subparagraph (A) 
and inserting ‘‘$109,400’’, and 
(2) by striking ‘‘$50,600’’ in subparagraph (B) 
and inserting ‘‘$70,300’’. 
(b) PHASE-OUT OF EXEMPTION AMOUNT.—Section 
55(d)(2) is amended— 
(1) by striking ‘‘$150,000’’ in subparagraph 
(A) and inserting ‘‘$1,000,000’’, and 
(2) by striking subparagraphs (B) and (C) and 
by inserting the following new subparagraphs: 
‘‘(B) 50 percent of the dollar amount ap-
plicable under subparagraph (A) in the case of 
a taxpayer described in paragraph (1)(B) or 
(1)(C), and 
‘‘(C) $75,000 in the case of a taxpayer de-
scribed in paragraph (1)(D).’’, 
(c) INFLATION ADJUSTMENT.—Section 55(d)(3) is 
amended to read as follows: 
‘‘(3) INFLATION ADJUSTMENT.—In the case of 
any taxable year beginning in a calendar year after 
2018, each dollar amount described in clause (i) or 
(ii) of subparagraph (B) shall be increased by an 
amount equal to— 
‘‘(A) such dollar amount, multiplied by 
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‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar 
year in which the taxable year begins, deter-
mined by substituting— 
‘‘(i) in the case of a dollar amount 
contained in paragraph (1)(D) or (2)(C) or 
in subsection (b)(1)(A), ‘calendar year 
2011’ for ‘calendar year 2016’ in subpara-
graph (A)(ii) thereof, and 
‘‘(ii) in the case of a dollar amount 
contained in paragraph (1)(A), (1)(B), or 
(2)(A), ‘calendar year 2017’ for ‘calendar 
year 2016’ in subparagraph (A)(ii) thereof. 
Any increased amount determined under this para-
graph shall be rounded to the nearest multiple of 
$100 ($50 in the case of the dollar amount con-
tained in paragraph (2)(C)).’’. 
(d) CONFORMING AMENDMENT.—Section 55(d) is 
amended by striking paragraph (4). 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2017. 
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TITLE III—BUDGETARY EFFECTS 
SEC. 301. BUDGETARY EFFECTS. 
(a) STATUTORY PAYGO SCORECARDS.—The budg-
etary effects of this Act shall not be entered on either 
PAYGO scorecard maintained pursuant to section 4(d) of 
the Statutory Pay-As-You-Go Act of 2010. 
(b) SENATE PAYGO SCORECARDS.—The budgetary 
effects of this Act shall not be entered on any PAYGO 
scorecard maintained for purposes of section 4106 of H. 
Con. Res. 71 (115th Congress). 
Passed the House of Representatives September 28, 
2018. 
Attest: 
KAREN L. HAAS, 
Clerk. 
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