1. | Enter the total of the amounts from Schedule A, lines 4, 9, 15, 19, 20, 27, and 28 | 1. | | |
2. | Enter the total of the amounts from Schedule A, lines 4, 14, and 20, plus any gambling and casualty or theft losses included on line 28. Also include in the total any amount included on Schedule A, line 16, that you elected to treat as qualified contributions for relief efforts in a Midwestern disaster area | 2. | | |
| | Be sure your total gambling and casualty or theft losses are clearly identified on the dotted lines next to line 28. | | | |
3. | Is the amount on line 2 less than the amount on line 1? | | | | | |
| No. | | Your deduction is not limited. Enter the amount from line 1 above on Schedule A, line 29. | | | |
| Yes. | Subtract line 2 from line 1 | 3. | | |
4. | Multiply line 3 by 80% (.80) | 4. | | | | |
5. | Enter the amount from Form 1040, line 38 | 5. | | | | |
6. | Enter $159,950 ($79,975) if married filing separately) | 6. | | | | |
7. | Is the amount on line 6 less than the amount on line 5? | | | | | |
| No. | | Your deduction is not limited. Enter the amount from line 1 above on Schedule A, line 29. | | | | | |
| Yes. | Subtract line 6 from line 5 | 7. | | | | |
8. | Multiply line 7 by 3% (.03) | 8. | | | | |
9. | Enter the smaller of line 4 or line 8 | 9. | | |
10. | Divide line 9 by 1.5 | 10. | | |
11. | Subtract line 10 from line 9 | 11. | | |
12. | Total itemized deductions. Subtract line 11 from line 1. Enter the result here and on Schedule A, line 29 | 12. | | |
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