If a taxpayer's adjusted gross income exceeds certain threshold amounts,he or she may be required to reduce the amount of the otherwise allowable deductions for itemized deductions and personal and dependency exemptions in 2017.

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This is true. The phaseout of certain deductions and exemptions is based on a taxpayer's adjusted gross income and begins at certain threshold amounts. For the tax year 2017, the phaseout begins at an adjusted gross income of $261,500 for single filers and $313,800 for married filing jointly.

If a Taxpayer's Adjusted Gross Income Exceeds Certain Threshold Amounts,he