garagecapital wrote:

- quote -

For a couple filing joint in 2007, deductions are excluded by 3% of the
excess over $156,400.
So, from an example of this at
http://www.finance.cch.com/text/c60s10d702.asp

AGI $339,450
Less: threshold amount -156,400
Excess over threshold: $183,050
Multiplier x .03
Reduction required $ 5,491.50
Unreduced deductions $ 23,700
Less: reduction required - 5,491.50
Deductions that may be claimed: $ 18,208.50

To be clear, a couple making $339K (uh, that's pretty high, as in top
1%) loses $5492 of their deductions.

I suppose it can only become meaningless if their donations are so small
the 3% wipes it out, but then, it was pretty meaningless in the first
place, no?

Joe

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At what AGI level, do these deductions start to phase out or become
meaningless?

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