Line 40, Total itemized deductions worksheet

(Keep for your records)

1 Enter the total amounts from Form IT-196, lines 4, 9, 15, 19, 20, 28, and 39 1 ____________ 2 Enter the total amounts from Form IT-196, lines 4, 14, 16a, 20, 29, 30, and 37 2 ____________ 3 Is the amount on line 2 less than the amount on line 1? If No , stop here. Your deduction is not limited. Enter the amount from line 1 of this worksheet on Form IT-196, line 40. Do not complete the rest of this worksheet. If Yes , subtract line 2 from line 1 3 ____________ 4 Multiply line 3 by 80% (.80) 4 ____________ 5 Enter the amount from Form IT-201, line 19 or IT-203, line 19 (Federal amount column) 5 ____________ 6 Enter $375,850 if married filing jointly or qualifying surviving spouse; $344,500 if head of household; $313,200 if single; or $187,900 if married filing separately 6 ____________ 7 Is the amount on line 6 less than the amount on line 5? If No , stop here. Your deduction is not limited. Enter the amount from line 1 of this worksheet on Form IT-196, line 40. Do not complete the rest of this worksheet. If Yes , subtract line 6 from line 5 7 ____________ 8 Multiply line 7 by 3% (.03) 8 ____________ 9 Enter the smaller of line 4 or line 8 9 ____________ 10 Total itemized deductions . Subtract line 9 from line 1. Enter the result here and on Form IT-196, line 40 10 ____________