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1) Enter your 2007 adjusted gross income
$
2) Enter $156,400 ($78,200 if married filing
separately).
3) Subtract line 2 from line 1.
4) Multiply the amount of line 3 by 3% (.03).
5) Enter the total allowable itemized deductions
before the 3% reduction.
6) Enter the amount included on line 5 for
allowable medical and dental expenses, casualty
or theft loss, investment interest, and gambling
losses. These deductions are not subject to the
reduction.
7) Subtract line 6 from line 5.
8) Multiply the amount on line 7 by 80% (.80).
9) Enter the smaller of line 4 or line 8.
10)Multiply Line 9 by 2/3 (0.6666). This is the
disallowed amount.
11)Subtract line 10 from line 5. This is the net
amount of itemized deductions you may claim.
Click here to leave itemized
deduction reduction
worksheet and return to itemized
deduction
reduction main
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