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Income Tax Planning
Chapter 7: Itemized Deductions/LIMITATION ON ITEMIZED DEDUCTIONS
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 7: Itemized Deductions

LIMITATION ON ITEMIZED DEDUCTIONS

01.Core Concepts

BEGINNING IN 2026 • Beginning in 2026, a taxpayers total itemized deductions will be reduced by 2/37 times the lesser of: • The taxpayers total itemized deductions, or • Taxable income before subtracting itemized deductions minus the dollar amount at the start of the 37% tax bracket for the taxpayer's filing status • Reduction applies after all other limitations on itemized deductions.