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The 2025 tax law created four new deductions that apply to tax years 2025 through 2028. They're taken whether you itemize or use the standard deduction. Here's who qualifies and what to keep. Tips: Workers in occupations that customarily receive tips can deduct qualified tips, up to $25,000 a year. The deduction phases out once modified adjusted gross income passes $150,000 ($300,000 for joint filers). Tips need to be reported - on your W-2 or 1099, or on Form 4137 - so keep