Worksheet for Phaseout of Itemized / Standard deductions: Worksheet for Calculating Phaseout of Itemized / Standard Deductions (2024)

Who files this form

You must use this worksheet to calculate the reduction of your standard or itemized deduction if your estimated 2024 Maine adjusted gross income is greater than:

• $97,150 if single or married filing separately.
• $145,750 if head of household.
• $194,300 if married filing jointly or qualifying surviving spouse.

What you'll need

Have these figures and references available to complete the worksheet:

• Your estimated 2024 Maine adjusted gross income from line 5 of the 2024 Estimated Tax Worksheet.
• Your filing status and either your 2024 standard deduction amount or your total estimated 2024 Maine itemized deductions, whichever applies.
• Form 1040ME, Schedule 2 and its related instructions, which the worksheet references for itemized deductions.

The worksheet also has spaces for your taxpayer name and Social Security number.

Common mistakes

• Continuing when line 3 is zero or less. The worksheet says to stop because your deduction is not subject to the phaseout.
• Entering a ratio above 1 on line 5. If line 3 divided by line 4 is one or more, enter 1.0000.
• Overlooking the itemized deduction limit. For 2024, Maine itemized deductions other than medical and dental expenses are limited to $35,250. Medical and dental expenses included in federal itemized deductions are added to that limit.
• Not carrying over the result. Enter the amount from line 8 on line 6a of the 2024 Estimated Tax Worksheet.

Questions people ask

Does this worksheet apply to both standard and itemized deductions?

Yes. It calculates the reduction of either deduction. On line 6, enter your 2024 standard deduction amount or your total estimated 2024 Maine itemized deductions, whichever applies.

What if my income does not exceed the threshold for my filing status?

Subtract the threshold on line 2 from your estimated Maine adjusted gross income on line 1. If the result is zero or less, do not complete the worksheet. Your deduction is not subject to the phaseout.

How do I calculate the phaseout ratio?

Divide line 3 by the amount on line 4: $75,000 for single or married filing separately, $112,500 for head of household, or $150,000 for married filing jointly or qualifying surviving spouse. If the result is one or more, enter 1.0000 on line 5.

Where does the final deduction amount go?

Multiply line 6 by line 5 to get the reduction on line 7. Subtract line 7 from line 6, then enter the result on line 8 and on line 6a of your 2024 Estimated Tax Worksheet.

Official sources

• https://www.maine.gov/revenue/sites/maine.gov.revenue/files/inline-files/24_item_stand_%20ded_phaseout_wksht.pdf