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Itemized Deductions Schedule-A


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Old 01-29-2011, 01:44 PM
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For 2010, Taxpayers with high adjusted gross income, will no longer face phase outs for exemptions and itemized deductions!

For tax year 2010, "overall income limits for personal and dependency exemptions and itemized deductions do not apply." Prior to 2010, taxpayers whose incomes were above certain levels lost part or all of their exemptions and part of their itemized deductions.

But, for taxpayers at all income levels, limitations continue to apply to particular itemized deductions, such as medical and dental expenses, certain miscellaneous itemized deductions and casualty and theft losses

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