Question: Explain the limitations imposed on itemized deductions, especially the 2% floor for miscellaneous itemized deductions and the overall limitation on certain itemized deductions. Why do

Explain the limitations imposed on itemized deductions, especially the 2% floor

Explain the limitations imposed on itemized deductions, especially the 2% floor for miscellaneous itemized deductions and the overall limitation on certain itemized deductions. Why do these limitations exist? Why would the Code disallow so much that many taxpayers are unable to deduct any amounts, such as on medical and miscellaneous? Do you think this these provisions are biased against those in certain tax brackets? Explain the limitations imposed on itemized deductions, especially the 2% floor for miscellaneous itemized deductions and the overall limitation on certain itemized deductions. Why do these limitations exist? Why would the Code disallow so much that many taxpayers are unable to deduct any amounts, such as on medical and miscellaneous? Do you think this these provisions are biased against those in certain tax brackets

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