True/False
In the past,high-income taxpayers' itemized deductions have been reduced,called the Pease limitations,by the lower of 3% of the excess of AGI over the applicable amount or 80% of the itemized deductions otherwise allowable for the tax year.For 2017,this limitation on the amount of itemized deductions for high-income taxpayers is still in effect.
Correct Answer:
Verified
Correct Answer:
Verified
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