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

Disaster losses

Casualty losses such as from a storm, in areas declared by the President to warrant federal assistance. An election may be made to deduct the loss in the year before the loss or the year of the loss.

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