Schedule A (Form 1040) - Reduction of Itemized Deductions
Beginning in 2013, itemized deductions may be reduced for taxpayers with Adjusted Gross Income (AGI) above:
If your AGI exceeds the amount listed for your filing status, your itemized deductions will be reduced by the lesser of:
- $300,000 for married filing joint or qualifying widow(er)
- $275,000 for head of household
- $250,000 for single
- $150,000 for married filing separate
If your AGI exceeds the amount listed for your filing status, your itemized deductions will be reduced by the lesser of:
- 3% of the AGI above the amount listed for your filing status or
- 80% of the amount of itemized deductions otherwise allowable
This reduction does not apply to medical and dental expenses, investment interest, or casualty or theft losses.