Itemized Deduction Limit

admin — Sat, 19 Mar 2011 18:31:57 +0000

Question: Simple question about itemizing assets?Hello, I hope that I will ask this question correctly. If I barely reach the itemizing threshold (is it $5000+?), will that save me more on taxes than a standard deduction? Or does it only matter if I greatly go over my itemization limit? Because I recently [...]

Itemized Deduction Limit is a post from: The IRS Deductions Blog

Itemized Deduction Limitation

admin — Fri, 04 Jun 2010 06:55:12 +0000

Question: When calculating AMTI, individual taxpayers must add back the following: I. Miscellaneous Itemized Deductions?When calculating AMTI, individual taxpayers must add back the following: I. Miscellaneous itemized deductions subject to the 2% limitation. II. Personal exemption amountsAnswer: When calculating AMT (alternative minimum tax) you start with the amount on your 1040 page 2…after itemized deduction [...]

Itemized Deduction Limitation is a post from: The IRS Deductions Blog

The IRS Deductions Blog » itemized deduction limitation

Itemized Deduction Limit

Itemized Deduction Limitation