Line 28: Contributions to Self-Employed SEP, SIMPLE, and Qualified PlansDistribution | More Information
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In 2011, the then 7.5 percent (of AGI) floor on medical deductions meant that itemizing taxpayers could not deduct a total of $44.3 billion of expenses, about one-third of all reported medical expenses.
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In 2011, taxpayers deducted a total of $84.9 billion of medical expenses.
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In 2011, taxpayers deducted income and sales taxes totaling $282 billion.
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In 2011, 33.7 million taxpayers deducted state, local, and foreign income taxes totaling $266 billion.
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In 2011, 10.9 million taxpayers deducted state, local, and foreign sales taxes totaling $16 billion.
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In 2011, 40.1 million taxpayers deducted real estate taxes totaling $173 billion.
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Taxpayers deducted $8.3 billion of personal property taxes paid in 2011.
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In 2011, 2.6 million taxpayers deducted other taxes totaling $1.9 billion.
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In 2011, 46 million taxpayers deducted tax payments totaling $465 billion.
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In 2011, 35.5 million taxpayers deducted a total of $358 billion of interest and points paid on mortgages and reported by lenders.
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In 2011, 1.1 million taxpayers deducted a total of $6.5 billion of interest paid on mortgages that were not reported by lenders.
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In 2011, 2.7 million taxpayers deducted a total of $1.4 billion of points paid on mortgages that were not reported by lenders.
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In 2011, 4.5 million taxpayers deducted a total of $5.4 billion of premiums paid for mortgage insurance.
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In 2011, 1.5 million taxpayers deducted a total of $12.6 billion of interest paid on loans used to purchase investment properties.
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In 2011, 36.5 million taxpayers deducted a total of $384 billion of interest paid.
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In 2011, 34.6 million taxpayers deducted a total of $139 billion of gifts to charitable organizations made by cash or check.
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In 2011, 22.5 million taxpayers deducted a total of $44 billion of in-kind gifts to charitable organizations.
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In 2011, 579,000 taxpayers claimed a total of $33 billion of charitable contributions carried over from previous years.
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In 2011, 37.8 million taxpayers deducted a total of $174 billion of gifts to charitable organizations.
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In 2011, 141 thousand taxpayers deducted a total of $3.2 billion of casualty and theft losses.
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In 2011, 14.7 million taxpayers claimed a total of $77 billion of unreimbursed employee expenses.
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In 2011, 22.1 million taxpayers claimed a total of $7 billion spent on tax preparation fees.
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In 2011, 7.9 million taxpayers claimed a total of $38 billion in miscellaneous expenses related to earning income or protecting property.
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In 2011, 28.7 million taxpayers claimed a total of $122 billion of job and miscellaneous expenses.
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In 2011, the floor on deducting job and miscellaneous expenses averaged about $2,600 for the 28.7 million taxpayers reporting those expenses.
In 2011, 11.9 million taxpayers deducted a total of $86 billion of job and miscellaneous expenses that were in excess of 2 percent of their adjusted gross income.
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In 2011, 1.3 million taxpayers claimed a total of $18 billion of gambling losses, $1 billion of property income, casualty, and theft deductions, and $2 billion of other miscellaneous deductions.
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The limitation on itemized deductions for high-income taxpayers was repealed for the 2010-2012 tax years, but was reinstated in 2013.
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Itemized deductions are not limited for single tax filers with an AGI under $250,000, heads of household with an AGI under $275,000, and married couples who file jointly and have an AGI under $300,000.
Itemized deductions are reduced by 3 percent of AGI in excess of thresholds: $250,000 for single filers, $275,000 for heads of household, and $300,000 for married couples who file jointly. Deductions cannot be reduced by more than 80 percent.
In 2011, 125,000 taxpayers chose to itemize deductions, even though their standard deductions were larger.