Does my income from wages (24K) limit the itemized deductions I can take when my total income is mostly from Cap Gains earned from selling a longterm rental property (200K after accounting for base and improvements)? I have much more than 24 k in itemized deductions not related to the sale of the property. This is a one time only situation.

Thank you - I look forward to hearing from you

  • 3
    you need to specify a country for tax questions – JohnFx Dec 12 '16 at 22:30
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    We look forward to you specifying your country. :) – Chris W. Rea Dec 13 '16 at 0:13

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