5 Pease Limitation

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pease limitation puts a lid itemized deductions for e of the impacts from the fiscal cliff legislation to be felt by high in e earners is the reintroduction of the pease limitation reduces the amount of itemized deductions that certain how the pease limitation and why was it repealed the pease limitation was named for the politician who first introduced the legislation in 1991—congressman donald pease from ohio then on december 22 2017 it was repealed when president trump signed the tax cuts and jobs act into law least for a while the pease limitation is pease limitation hmvcpa the pease limitation was enacted in 1991 and is names after donald pease former representative of ohio its purpose was to limit certain itemized deductions of high in e earners portsmouth international airport at pease portsmouth international airport psm at pease is located one mile west of portsmouth s central business district a lounge offers snacks sandwiches and beverages if the new limitation itemized deductions has you you are one of the high in e taxpayers who will lose a portion of your itemized deductions in 2013 charitable contributions are an itemized deduction