Submitted By: someone
Answered: January 4, 2019 12:53 am

Is there a limit on itemized deductions for high-income taxpayers?

For 2018 through 2025, there is no phase-out of itemized deductions for high-income taxpayers.

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Tax Glossary

Capital asset

Property subject to capital gain or loss treatment. Almost all assets you own are considered capital assets except for certain business assets or works you created.

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