Please answer ONLY ONE of the following. DO NOT DO ALL THREE. 1. It has been suggested that tax policy favors deductions for AGI compared to itemized deductions. Describe two ways in which deductions for AGI are treated more favorably than itemized deductions.

2. Describe the tax benefits from bunching itemized deductions in one year. Describe the characteristics of the taxpayers who are most likely to benefit from using bunching and explain why this is so.

3. Identify which itemized deductions are subject to floor limitations, ceiling limitations, or some combination of these limits.