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Deductions Subject to the Phaseout

Not all deductions are affected by the phaseout of itemized deductions, but most of the larger ones are:


The following deductions are not subject to the phaseout:

  • medical and dental expenses
  • gambling losses
  • investment interest expenses
  • nonbusiness casualty and theft losses

Note that whatever limits are applicable to the particular type of deduction (for example, the $100,000 limit on home equity loans, or the two percent limit for miscellaneous deductions) are applied first, before computing the amount of the phaseout.


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