Changes to the mortgage interest tax deduction and the cap
on certain itemized deductions, including real estate taxes, could alter the tax benefits of owning a home.
Certain itemized deductions are based on a minimum (or «floor») amount.
Certain itemized deductions are available if your total deductions in this general category add up to more than 2 % of your adjusted gross income.
AMT is an alternative tax calculation that re-figures taxable income without personal exemptions and
certain itemized deductions.
Also,
certain itemized deductions are not allowed in calculating the Alternative Minimum Tax (AMT).
Certain itemized deductions are based on a minimum (or «floor) amount.