A single taxpayer has adjusted gross income of $325,000 and has total itemized deductions in various categories totaling $20,000.The taxpayer discovers some additional deductions for AGI.The extra deductions will not affect his itemized deductions.

Question

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Lowering his AGI will impact some itemized deduction categories that have ceilings or floors based on a percentage of AGI.In addition,at that income level,the taxpayer is subject to the itemized deduction phase-out for high income taxpayers.

A Single Taxpayer Has Adjusted Gross Income of $325,000 and Has