High-Income Taxpayers

This handout provides a listing of deduction limitations for taxpayers who have higher taxable income.

HIGHLIGHTS: 

  1. Capital gain tax rates.

  2. Phaseouts of itemized deductions and personal exemptions.

  3. Reduced IRA deductions and reduced Roth IRA contributions.

  4. Phaseout of Retirement Savings Contribution Credit and Child Tax Credit.

  5. Medicare provisions of the Affordable Care Act.

  6. Eduction benefits phaseouts.


CLIENTS WHO MAY BENEFIT:

  1. Taxpayers with higher income who have children.

  2. Taxpayers who experience high income for a particular year.

Individual Income TaxClare FazackerleyTax, High Income, High Taxable Income, Deductions, Exemptions, Capital gains, Capital Gain Tax Rates, Retirement Credits, IRA Contributions, Medicare, Education