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Taxes - Partial Deductions?

What are partial deductions and how do you use them filing taxes?

A partial deduction is one that is limited to a portion of your AGI. Medical deductions subject to a 7.5% AGI are an example, as are charitable donations which are generally subject to a 50% AGI ceiling.

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Another partial deduction is one that is subject to a phaseout.

For example, the Child tax credit is generally $1000 per child. If you income is above $110K and you file married filing jointly, the phase out kicks in and the more you make the smaller the credit is. (It's a sneaky way to raise your tax rate without touching the official tax brackets.)

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