§ 10-218

# (a)

Only an individual who itemizes deductions on the individual’s federal income tax return may elect to itemize deductions on the individual’s income tax return.

# (b)

Subject to subsection (c) of this section, an individual who elects to itemize deductions is allowed as a deduction the sum of the individual’s federal itemized deductions:

# (1)

limited and reduced as required under the Internal Revenue Code;

# (2)

further reduced by any amount deducted under § 170 of the Internal Revenue Code for contributions of a preservation or conservation easement for which a credit is claimed under § 10–723 of this title; and

# (3)

further reduced by the amount claimed as taxes on income paid to a state or political subdivision of a state, after subtracting a pro rata portion of the reduction to itemized deductions required under § 68 of the Internal Revenue Code.

# (c)

# (1)

In this subsection, “applicable amount” means:

(i) $100,000 for a married individual filing separately; and

(ii) $200,000 for all other filers.

# (2)

This subsection does not apply to a fiduciary.

# (3)

In the case of an individual whose federal adjusted gross income exceeds the applicable amount, the amount of itemized deductions otherwise allowable for a taxable year shall be reduced by 7.5% of the excess of the federal adjusted gross income over the applicable amount.

# (4)

This subsection shall be applied after the application of any other limitation on the allowance of any itemized deduction.