Are You Subject to the Limit?

You are subject to the limit on certain itemized deductions if your adjusted gross income (AGI) is more than $128,950 ($64,475 if you are married filing separately). Your AGI is the amount on line 34 of your Form 1040.

This limit does not apply to estates or trusts.

Which Deductions Are Limited?

Schedule A (Form 1040) deductions subject to the overall limit are:

• Taxes--line 9,
• Interest--lines 10, 11, and 12,
• Gifts to charity--line 18,
• Job expenses and most other miscellaneous deductions--line 26, and
• Other miscellaneous deductions--line 27, excluding gambling and casualty or theft losses.

Which Deductions Are Not Limited?

The Schedule A (Form 1040) deductions listed next are not subject to the overall limit on itemized deductions. However, they are still subject to other applicable limits.

• Medical and dental expenses--line 4.
• Investment interest expense--line 13.
• Nonbusiness casualty and theft losses--line 19.
• Casualty or theft losses from income producing property--line 27.
• Gambling losses--line 27.

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