[Anonymous]

I’ve read in multiple places that the limitation on itemized deductions no longer has a phase-out, but I’m still nervous and want to make sure I’m getting this concept.

So, for 2010:

Applicable itemized deductions, for those with AGI of $166,800 or more, will be reduced by the lesser of:

3% AGI over $166,800, or

80% of applicable itemized deductions

NOT subject to a phase out.

Can someone please confirm? 🙂

[Anonymous]

Anyone? Anyone? Bueller? Jeff? 🙂

[Author]

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