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[quote=Anonymous][quote=Anonymous]I did our taxes last weekend. We lost something like 20K in deductions, though we still itemized (just barely). We did owe the Feds (about 1500), but we paid the same percentage of our income in federal taxes from last year to this year. This year, we're updating our withholdings so hopefully we won't owe next year. So we weren't actually screwed tax wise. That said, where we're actually going to be screwed is with the downstream uses of our AGI, which is now significantly higher than it had been before. Our income-based student loan repayments will be based on the much higher AGI the next time we re-certify, so I expect our student loan payments to increase significantly.  We're also sooooo much closer to the hitting the income limits for contributing to a Roth IRA. We are both getting relatively small raises this year, but they may be enough for us to hit the cap next year, so we'll have to figure out alternatives. I don't know that there's anything MD can do to help with these downstream consequences....[/quote]

You don't really know what you are talking about or must be one of those Never Trumpers.

AGI has always been prior to any itemized deductions relating to SALT or mortgage interest. Whether you itemize or take standard deduction as no impact on your AGI. Yes...your income has gone up ...instead of lamenting about what it might do in the future enjoy and be thankful for it.[/quote]

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