--- In vpFREE@yahoogroups.
>
> Also, for the active player with high reported w-2G income, a more
> likely problem than AMT complication is the deduction phase out that
> occurs as a consequence of the artificial AGI inflation involved.
>
> - Harry
>
Fortunately, this is going away.
Beginning in 2006, the overall limit on certain itemized deductions
was gradually eliminated. Under this phaseout rule, the limit on
itemized deductions was reduced by one-third in 2006 and will be
reduced by one-third in 2007 so that the 3% phaseout is reduced to 2%.
In 2008 and 2009, the 3% phaseout will be reduced to 1%. The reduction
will be eliminated in 2010.
MARKETPLACE
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