temized deductions Qualifying medical expenses, taxes, investment and residential interest, charitable contributions personal casualty and theft losses, miscellaneous if greater than standard deduction Some items limited by varying percentages of adjusted gross income Maximum reduction in such itemized deductions is 80% of total itemized deductionsItemized Deductions • Qualifying medical expenses, taxes, investment and residential interest, charitable contributions, personal casualty and theft losses, & miscellaneous if greater than standard deduction • Some items limited by varying percentages of adjusted gross income • Maximum reduction in such itemized deductions is 80% of total itemized deductions