loading…

us/statute/26/164/b/7 — Applicable limitation amount · Axiom

Applicable limitation amount

9 rules

Official source

graph ↗build calculator ↗

(A) In general For purposes of paragraph (6), the term “applicable limitation amount” means— (i) in the case of any taxable year beginning in calendar year 2025, $40,000, (ii) in the case of any taxable year beginning in calendar year 2026, $40,400, (iii) in the case of any taxable year beginning after calendar year 2026 and before 2030, 101 percent of the dollar amount in effect under this subparagraph for taxable years beginning in the preceding calendar year, and (iv) in the case of any taxable year beginning after calendar year 2029, $10,000.

(B) Phasedown based on modified adjusted gross income (i) In general Except as provided in clause (iii), in the case of any taxable year beginning before January 1, 2030 , the applicable limitation amount shall be reduced by 30 percent of the excess (if any) of the taxpayer’s modified adjusted gross income over the threshold amount (half the threshold amount in the case of a married individual filing a separate return). (ii) Threshold amount For purposes of this subparagraph, the term “threshold amount” means— (I) in the case of any taxable year beginning in calendar year 2025, $500,000, (II) in the case of any taxable year beginning in calendar year 2026, $505,000, and (III) in the case of any taxable year beginning after calendar year 2026, 101 percent of the dollar amount in effect under this subparagraph for taxable years beginning in the preceding calendar year. (iii) Limitation on reduction The reduction under clause (i) shall not result in the applicable limitation amount being less than $10,000. (iv) Modified adjusted gross income For purposes of this paragraph, the term “modified adjusted gross income” means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933.

in view

Whole section

Encodings · 9

applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_202526 USC § 164 (b)(7) (A) · parameter

26 USC 164(b)(7)(A)(i)

name: applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_2025
kind: parameter
dtype: Money
unit: USD
source: 26 USC 164(b)(7)(A)(i)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            in the case of any taxable year beginning in calendar year 2025,
            $40,000
versions:
  - effective_from: '2025-01-01'
    formula: '40000'

open in graph ↗

applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_202626 USC § 164 (b)(7) (A) · parameter

26 USC 164(b)(7)(A)(ii)

name: applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_2026
kind: parameter
dtype: Money
unit: USD
source: 26 USC 164(b)(7)(A)(ii)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            in the case of any taxable year beginning in calendar year 2026,
            $40,400
versions:
  - effective_from: '2026-01-01'
    formula: '40400'

open in graph ↗

applicable_limitation_amount_annual_adjustment_factor26 USC § 164 (b)(7) (A) · parameter

26 USC 164(b)(7)(A)(iii)

name: applicable_limitation_amount_annual_adjustment_factor
kind: parameter
dtype: Decimal
source: 26 USC 164(b)(7)(A)(iii)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            101 percent of the dollar amount in effect under this subparagraph
            for taxable years beginning in the preceding calendar year
versions:
  - effective_from: '2027-01-01'
    formula: '1.01'

open in graph ↗

applicable_limitation_amount_after_calendar_year_202926 USC § 164 (b)(7) (A) · parameter

26 USC 164(b)(7)(A)(iv)

name: applicable_limitation_amount_after_calendar_year_2029
kind: parameter
dtype: Money
unit: USD
source: 26 USC 164(b)(7)(A)(iv)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            in the case of any taxable year beginning after calendar year 2029,
            $10,000
versions:
  - effective_from: '2030-01-01'
    formula: '10000'

open in graph ↗

modified_adjusted_gross_income_phaseout_rate26 USC § 164 (b)(7) (B) · parameter

26 USC 164(b)(7)(B)(i)

name: modified_adjusted_gross_income_phaseout_rate
kind: parameter
dtype: Rate
source: 26 USC 164(b)(7)(B)(i)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: reduced by 30 percent of the excess
versions:
  - effective_from: '2025-01-01'
    formula: '0.30'

open in graph ↗

modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_202526 USC § 164 (b)(7) (B) · parameter

26 USC 164(b)(7)(B)(ii)(I)

name: >-
  modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_2025
kind: parameter
dtype: Money
unit: USD
source: 26 USC 164(b)(7)(B)(ii)(I)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            in the case of any taxable year beginning in calendar year 2025,
            $500,000
versions:
  - effective_from: '2025-01-01'
    formula: '500000'

open in graph ↗

modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_202626 USC § 164 (b)(7) (B) · parameter

26 USC 164(b)(7)(B)(ii)(II)

name: >-
  modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_2026
kind: parameter
dtype: Money
unit: USD
source: 26 USC 164(b)(7)(B)(ii)(II)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            in the case of any taxable year beginning in calendar year 2026,
            $505,000
versions:
  - effective_from: '2026-01-01'
    formula: '505000'

open in graph ↗

modified_adjusted_gross_income_threshold_annual_adjustment_factor26 USC § 164 (b)(7) (B) · parameter

26 USC 164(b)(7)(B)(ii)(III)

name: modified_adjusted_gross_income_threshold_annual_adjustment_factor
kind: parameter
dtype: Decimal
source: 26 USC 164(b)(7)(B)(ii)(III)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            in the case of any taxable year beginning after calendar year 2026,
            101 percent of the dollar amount in effect under this subparagraph
            for taxable years beginning in the preceding calendar year
versions:
  - effective_from: '2027-01-01'
    formula: '1.01'

open in graph ↗

applicable_limitation_amount_phaseout_floor26 USC § 164 (b)(7) (B) · parameter

26 USC 164(b)(7)(B)(iii)

name: applicable_limitation_amount_phaseout_floor
kind: parameter
dtype: Money
unit: USD
source: 26 USC 164(b)(7)(B)(iii)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/164
          excerpt: >-
            shall not result in the applicable limitation amount being less than
            $10,000
versions:
  - effective_from: '2025-01-01'
    formula: '10000'

open in graph ↗

▸rulespec code

Shown source

statutes/26/164.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/164; no dedicated encoding exists for this exact provision yet.

Rules

personal_property_tax

Derived

source: 26 USC 164(b)

- name: personal_property_tax
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: 26 USC 164(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: >-
              The term “personal property tax” means an ad valorem tax which is imposed on an annual
              basis in respect of personal property.
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        tax_is_ad_valorem
        and tax_is_imposed_on_annual_basis_in_respect_of_personal_property

applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_2025

Parameter(A) in text ↖

source: 26 USC 164(b)(7)(A)(i)

- name: applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_2025
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 164(b)(7)(A)(i)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: in the case of any taxable year beginning in calendar year 2025, $40,000
  versions:
    - effective_from: '2025-01-01'
      formula: '40000'

applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_2026

Parameter(A) in text ↖

source: 26 USC 164(b)(7)(A)(ii)

- name: applicable_limitation_amount_for_taxable_year_beginning_in_calendar_year_2026
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 164(b)(7)(A)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: in the case of any taxable year beginning in calendar year 2026, $40,400
  versions:
    - effective_from: '2026-01-01'
      formula: '40400'

applicable_limitation_amount_annual_adjustment_factor

Parameter(A) in text ↖

source: 26 USC 164(b)(7)(A)(iii)

- name: applicable_limitation_amount_annual_adjustment_factor
  kind: parameter
  dtype: Decimal
  source: 26 USC 164(b)(7)(A)(iii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: >-
              101 percent of the dollar amount in effect under this subparagraph for taxable years
              beginning in the preceding calendar year
  versions:
    - effective_from: '2027-01-01'
      formula: '1.01'

applicable_limitation_amount_after_calendar_year_2029

Parameter(A) in text ↖

source: 26 USC 164(b)(7)(A)(iv)

- name: applicable_limitation_amount_after_calendar_year_2029
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 164(b)(7)(A)(iv)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: in the case of any taxable year beginning after calendar year 2029, $10,000
  versions:
    - effective_from: '2030-01-01'
      formula: '10000'

modified_adjusted_gross_income_phaseout_rate

Parameter(B) in text ↖

source: 26 USC 164(b)(7)(B)(i)

- name: modified_adjusted_gross_income_phaseout_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 164(b)(7)(B)(i)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: reduced by 30 percent of the excess
  versions:
    - effective_from: '2025-01-01'
      formula: '0.30'

modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_2025

Parameter(B) in text ↖

source: 26 USC 164(b)(7)(B)(ii)(I)

- name: modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_2025
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 164(b)(7)(B)(ii)(I)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: in the case of any taxable year beginning in calendar year 2025, $500,000
  versions:
    - effective_from: '2025-01-01'
      formula: '500000'

modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_2026

Parameter(B) in text ↖

source: 26 USC 164(b)(7)(B)(ii)(II)

- name: modified_adjusted_gross_income_threshold_for_taxable_year_beginning_in_calendar_year_2026
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 164(b)(7)(B)(ii)(II)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: in the case of any taxable year beginning in calendar year 2026, $505,000
  versions:
    - effective_from: '2026-01-01'
      formula: '505000'

modified_adjusted_gross_income_threshold_annual_adjustment_factor

Parameter(B) in text ↖

source: 26 USC 164(b)(7)(B)(ii)(III)

- name: modified_adjusted_gross_income_threshold_annual_adjustment_factor
  kind: parameter
  dtype: Decimal
  source: 26 USC 164(b)(7)(B)(ii)(III)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: >-
              in the case of any taxable year beginning after calendar year 2026, 101 percent of the
              dollar amount in effect under this subparagraph for taxable years beginning in the
              preceding calendar year
  versions:
    - effective_from: '2027-01-01'
      formula: '1.01'

applicable_limitation_amount_phaseout_floor

Parameter(B) in text ↖

source: 26 USC 164(b)(7)(B)(iii)

- name: applicable_limitation_amount_phaseout_floor
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 164(b)(7)(B)(iii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: shall not result in the applicable limitation amount being less than $10,000
  versions:
    - effective_from: '2025-01-01'
      formula: '10000'

married_separate_applicable_limitation_fraction

Parameter

source: 26 USC 164(b)(6)(B)

- name: married_separate_applicable_limitation_fraction
  kind: parameter
  dtype: Rate
  source: 26 USC 164(b)(6)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: >-
              half the applicable limitation amount in the case of a married individual filing a
              separate return
  versions:
    - effective_from: '2018-01-01'
      formula: 1 / 2

seller_real_property_tax_treated_as_imposed

Derived

source: 26 USC 164(d)

- name: seller_real_property_tax_treated_as_imposed
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 164(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: >-
              so much of the real property tax as is properly allocable to that part of such year
              which ends on the day before the date of the sale shall be treated as a tax imposed on
              the seller
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        if real_property_sold_during_real_property_tax_year: max(0,
        real_property_tax_properly_allocable_to_period_before_sale) else: 0

purchaser_real_property_tax_treated_as_imposed

Derived

source: 26 USC 164(d)

- name: purchaser_real_property_tax_treated_as_imposed
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 164(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/164
            excerpt: >-
              so much of such tax as is properly allocable to that part of such year which begins on
              the date of the sale shall be treated as a tax imposed on the purchaser
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        if real_property_sold_during_real_property_tax_year: max(0,
        real_property_tax_properly_allocable_to_period_beginning_on_sale_date) else: 0

▸citations (1)

References

This rule cites 1 other rule.

26 USC § 911inferredUS Federal › Statutes › Title 26 › § 911