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In general

The amount allowable as a deduction under subsection (a) to any individual for any taxable year shall not exceed the lesser of—

(A) the deductible amount, or

(B) an amount equal to the compensation includible in the individual’s gross income for such taxable year.

in view

Whole section

▸rulespec code

Shown source

statutes/26/219/b.yaml

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Rules

statutory_deductible_amount_base

Parameter

source: IRC section 219(b)(5)(A)

- name: statutory_deductible_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: The deductible amount is $5,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '5000'

catch_up_age_threshold

Parameter

source: IRC section 219(b)(5)(B)(i)

- name: catch_up_age_threshold
  kind: parameter
  dtype: Count
  source: IRC section 219(b)(5)(B)(i)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: has attained the age of 50 before the close of the taxable year
  versions:
    - effective_from: '1990-01-01'
      formula: '50'

catch_up_applicable_amount_base

Parameter

source: IRC section 219(b)(5)(B)(ii)

- name: catch_up_applicable_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(B)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '1000'

deductible_amount_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(ii)

- name: deductible_amount_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $500, such amount shall be rounded to the next lower multiple of
              $500.
  versions:
    - effective_from: '1990-01-01'
      formula: '500'

catch_up_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(iii)

- name: catch_up_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(iii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $100, such amount shall be rounded to the next lower multiple of
              $100.
  versions:
    - effective_from: '1990-01-01'
      formula: '100'

plan_contribution_limit_amount

Parameter

source: IRC section 219(b)(3)(A)

- name: plan_contribution_limit_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(3)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: shall not exceed the lesser of— (A) $7,000
  versions:
    - effective_from: '1990-01-01'
      formula: '7000'

plan_contribution_compensation_limit_rate

Parameter

source: IRC section 219(b)(3)(B)

- name: plan_contribution_compensation_limit_rate
  kind: parameter
  dtype: Rate
  source: IRC section 219(b)(3)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: 25 percent of the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: '0.25'

section_applies_to_contribution

Derived

source: IRC section 219(b)(2), (4)

- name: section_applies_to_contribution
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: IRC section 219(b)(2), (4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to an employer contribution to a simplified
              employee pension.
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to any amount contributed to a simple
              retirement account
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        not contribution_is_employer_contribution_to_simplified_employee_pension
        and not contribution_is_amount_contributed_to_simple_retirement_account

deductible_amount_before_compensation_limit

Derived

source: IRC section 219(b)(5)

- name: deductible_amount_before_compensation_limit
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the deductible amount is $5,000
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: attained the age of 50 before the close of the taxable year
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        statutory_deductible_amount_base + (if age >= catch_up_age_threshold:
        catch_up_applicable_amount_base else: 0)

maximum_general_deduction_amount

Derived

source: IRC section 219(b)(1)

- name: maximum_general_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) the deductible amount, or (B) an amount equal to
              the compensation includible in the individual’s gross income
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(deductible_amount_before_compensation_limit, max(0,
        compensation_includible_in_gross_income))

maximum_plan_contribution_deduction_amount

Derived

source: IRC section 219(b)(3)

- name: maximum_plan_contribution_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) $7,000, or (B) an amount equal to 25 percent of
              the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        if contribution_on_behalf_of_employee_to_plan_described_in_section_501_c_18:
        min(plan_contribution_limit_amount, plan_contribution_compensation_limit_rate * max(0,
        compensation)) else: 0

loading…

us/statute/26/219/b/1 — In general · Axiom

In general

Official source

The amount allowable as a deduction under subsection (a) to any individual for any taxable year shall not exceed the lesser of—

(A) the deductible amount, or

(B) an amount equal to the compensation includible in the individual’s gross income for such taxable year.

in view

Whole section

▸rulespec code

Shown source

statutes/26/219/b.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/219/b; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

statutory_deductible_amount_base

Parameter

source: IRC section 219(b)(5)(A)

- name: statutory_deductible_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: The deductible amount is $5,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '5000'

catch_up_age_threshold

Parameter

source: IRC section 219(b)(5)(B)(i)

- name: catch_up_age_threshold
  kind: parameter
  dtype: Count
  source: IRC section 219(b)(5)(B)(i)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: has attained the age of 50 before the close of the taxable year
  versions:
    - effective_from: '1990-01-01'
      formula: '50'

catch_up_applicable_amount_base

Parameter

source: IRC section 219(b)(5)(B)(ii)

- name: catch_up_applicable_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(B)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '1000'

deductible_amount_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(ii)

- name: deductible_amount_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $500, such amount shall be rounded to the next lower multiple of
              $500.
  versions:
    - effective_from: '1990-01-01'
      formula: '500'

catch_up_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(iii)

- name: catch_up_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(iii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $100, such amount shall be rounded to the next lower multiple of
              $100.
  versions:
    - effective_from: '1990-01-01'
      formula: '100'

plan_contribution_limit_amount

Parameter

source: IRC section 219(b)(3)(A)

- name: plan_contribution_limit_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(3)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: shall not exceed the lesser of— (A) $7,000
  versions:
    - effective_from: '1990-01-01'
      formula: '7000'

plan_contribution_compensation_limit_rate

Parameter

source: IRC section 219(b)(3)(B)

- name: plan_contribution_compensation_limit_rate
  kind: parameter
  dtype: Rate
  source: IRC section 219(b)(3)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: 25 percent of the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: '0.25'

section_applies_to_contribution

Derived

source: IRC section 219(b)(2), (4)

- name: section_applies_to_contribution
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: IRC section 219(b)(2), (4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to an employer contribution to a simplified
              employee pension.
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to any amount contributed to a simple
              retirement account
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        not contribution_is_employer_contribution_to_simplified_employee_pension
        and not contribution_is_amount_contributed_to_simple_retirement_account

deductible_amount_before_compensation_limit

Derived

source: IRC section 219(b)(5)

- name: deductible_amount_before_compensation_limit
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the deductible amount is $5,000
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: attained the age of 50 before the close of the taxable year
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        statutory_deductible_amount_base + (if age >= catch_up_age_threshold:
        catch_up_applicable_amount_base else: 0)

maximum_general_deduction_amount

Derived

source: IRC section 219(b)(1)

- name: maximum_general_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) the deductible amount, or (B) an amount equal to
              the compensation includible in the individual’s gross income
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(deductible_amount_before_compensation_limit, max(0,
        compensation_includible_in_gross_income))

maximum_plan_contribution_deduction_amount

Derived

source: IRC section 219(b)(3)

- name: maximum_plan_contribution_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) $7,000, or (B) an amount equal to 25 percent of
              the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        if contribution_on_behalf_of_employee_to_plan_described_in_section_501_c_18:
        min(plan_contribution_limit_amount, plan_contribution_compensation_limit_rate * max(0,
        compensation)) else: 0