2008 Maximum Income for Itemized Deductions Phase Out

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2008 Maximum Income for Itemized Deductions Phase Out
by Sean Ramsey on Sunday, January 04, 2009

For 2008 the Internal Revenue Service has increased the maximum allowable income you can earn before you begin to have your itemized deductions phased out on your federal tax return. The maximum amount has been set by the IRS at $159,950 for married filing jointly or $79,975 if you are married filing separately.

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2008 Maximum Income for Itemized Deductions Phase Out

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