2008- Income Phase Out Limits for Individuals : Below are the income phase-out limits which may reduce your deductions, exemptions and tax credits:   Itemized Deductions Phase-Out Level   Single / Joint / Head of household $159,950     Married filing separately $79,975     Personal Exemption Phase-Out Level     Single $159,950 - 282,450     Joint returns & surviving spouses $239,950 - 362,450     Married filing separately $119,975 - 181,225     Head of household $199,950 - 322,450     Child Credit ($1,000 Per Child) Phase-Out Level     Single / Head of household Starts at $75,000     Joint Starts at $110,000     Married filing separately Starts at $55,000     IRA Deductibility (With Company Pension) Phase-Out Level     Single / Head of household $53,000 - 63,000     Joint $85,000 - 105,000     Married filing separately $0 - 10,000     When spouse has company pension $159,000 - 169,000     Roth IRA Eligibility Phase-Out Level     Single / Head of household $101,000 - 116,000     Joint $159,000 - 169,000     Married filing separately $0 - 10,000     Rollover of regular IRA to Roth IRA $100,000 (Income limit ends in 2010.)     (not allowed for married filing separately)       Education Savings Accounts (Ed IRA) Phase-Out Level     Single / Head of household / Married filing separately $95,000 - 110,000     Joint $190,000 - 220,000     Hope/Lifetime Learning Credits Phase-Out Level     Single / Head of household $48,000 - 58,000     Joint $96,000 - 116,000     Married filing separately $ 0     Education Loan Interest Deduction Phase-Out Level     Single / Head of household $55,000 - 70,000     Joint $115,000 - 145,000     Married filing separately $ 0     College Savings Bond Interest Exclusion Phase-Out Level     Single / Head of household $67,100 - 82,100     Joint $100,650 - 130,650     Married filing separately $ 0     *Adjusted or modified adjusted gross income.