Schedule A (Form 1040) - Reduction of Itemized Deductions
1
In 2013, the IRS began limiting itemized deductions. For 2016, itemized deductions may be reduced for taxpayers with Adjusted Gross Income (AGI) above:
$311,300 for married filing joint or qualifying widow(er)
$285,350 for head of household
$259,400 for single
$155,650 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.
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