| Itemized
Deductions / Personal Exemptions |
|
For 2010 through 2012,
the phase-outs of the personal exemption deduction and
overall deduction for itemized deductions have been
eliminated. This will allow for full deduction of certain
itemized deductions (i.e. charitable contributions and
mortgage interest) that are not subject to AMT. |
| Child
Credit ($1,000 per child) |
|
|
- Starts at $75,000
- Starts at $110,000
- Starts
at $55,000
|
| IRA
Deductibility (With Company Pension) |
|
|
- $56,000-66,000
- $89,000-109,000
- $0-10,000
|
| Roth
IRA Eligibility |
|
|
- $105,000-120,000
- $167,000-177,000
- $0-10,000
|
| Education
Savings Account (Education IRA) |
|
|
- $95,000-110,000
- $190,000-220,000
|
| American
Opportunity Credits |
|
|
- $80,000-90,000
- $160,000-180,000
- $0
|
| Lifetime
Learning Credits |
|
|
- $50,000-60,000
- $100,000-120,000
- $0
|
| Education
Loan Interest Deduction |
-
Single/Head
of household
-
Joint
- Married
filing separately
|
- $60,000-75,000
- $120,000-150,000
- $0
|
| College
Savings Bond Interest Exclusion |
-
Single/Head
of household
-
Joint
- Married
filing separately
|
- $70,100-85,100
- $105,100-135,100
- $0
|
| *Adjusted
or modified adjusted gross income. |
