I'm afraid it's more complicated than that. The deduction limit is tied to your modified adjusted gross income. Please see IRS Pub 590-A for the worksheets to calculate the potential deduction. <a rel="nofollow" target="_blank" href="
https://www.irs.gov/pub/irs-pdf/p590a.pdf">https://www.irs.gov/pub/irs-pdf/p590a.pdf</a>
