The two fisrt limitations I would add are two or the three from Disney's Genie: Magic cannot resurrect the dead, and Magic cannot make people fall in love.
The third one is that a Genie's wish cannot kill, but well, while it fits witht eh handwavium, it goes agains so many fictional magics that adding it would probabyl break disbelief ("I can turn someone into a toad, but I cannot cast a fireball? What are you smoking")
The third one is that a Genie's wish cannot kill, but well, while it fits witht eh handwavium, it goes agains so many fictional magics that adding it would probabyl break disbelief ("I can turn someone into a toad, but I cannot cast a fireball? What are you smoking")