Sentences with phrase «deductibility for joint filers»
However, if one or both are active participants, tax deductibility for joint filers phases out at a modified adjusted gross income (MAGI) of $ 99,000 to $ 119,000 for a participating spouse and $ 186,000 to $ 196,000 for a nonparticipating spouse in 2017.
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The standard deduction for joint filers doubled from $ 12,000 to $ 24,000, and perhaps the biggest adjustment is the $ 10,000 cap on the federal deductibility of state and local taxes (SALT).