Welcome Guest. Register Now!  


Itemized Deductions Schedule-A


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-29-2011, 01:44 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
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

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Itemized deductions when MFS and Head of household gogogooch Itemized Deductions 4 01-12-2011 10:53 PM
Itemized Deductions for Auto and Medical vivid Auto Expenses 0 03-20-2010 09:21 AM
How to calculate Adjusted Gross Income? JerseyGuy Income 1 01-06-2010 02:26 PM
Itemized deductions ssm3213 Itemized Deductions 1 03-27-2009 12:05 PM
Itemized Deductions... abecksted Itemized Deductions 1 03-14-2008 10:30 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.