us/statute/26/68/a/1

loading…

us/statute/26/68/a/1 · Axiom

1 rule

Official source

graph ↗build calculator ↗

such amount of itemized deductions, or

in view

Whole section

Encodings · 1

itemized_deduction_reduction_base26 USC § 68 (a)(1) · derived

26 USC 68(a)(1)-(2)

name: itemized_deduction_reduction_base
kind: derived
entity: TaxUnit
dtype: Money
period: Year
unit: USD
source: 26 USC 68(a)(1)-(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/68
          excerpt: >-
            lesser of— (1) such amount of itemized deductions, or (2) so much of
            the taxable income ... as exceeds the dollar amount at which the 37
            percent rate bracket under section 1 begins
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:policies/irs/rev-proc-2025-32/income-tax-brackets#income_tax_bracket_6_threshold
          output: income_tax_bracket_6_threshold
          hash: >-
            sha256:71d48be45e0ef2301d016959a784d2f27cb18c8e2a1c79c941f096790199e1c2
versions:
  - effective_from: '2026-01-01'
    formula: >-
      if section_68_reduction_applies_to_individual: min(
      itemized_deductions_otherwise_allowable_after_other_limitations, max( 0,
      taxable_income_determined_without_section_68 +
      itemized_deductions_otherwise_allowable_after_other_limitations -
      income_tax_bracket_6_threshold ) ) else: 0

open in graph ↗

▸rulespec code

Shown source

statutes/26/68.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/68; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

itemized_deduction_reduction_numerator

Parameter

source: 26 USC 68(a)

- name: itemized_deduction_reduction_numerator
  kind: parameter
  dtype: Integer
  source: 26 USC 68(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: reduced by 2 / 37
  versions:
    - effective_from: '1990-01-01'
      formula: '2'

itemized_deduction_reduction_denominator

Parameter

source: 26 USC 68(a)

- name: itemized_deduction_reduction_denominator
  kind: parameter
  dtype: Integer
  source: 26 USC 68(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: reduced by 2 / 37
  versions:
    - effective_from: '1990-01-01'
      formula: '37'

section_68_reduction_applies_to_individual

Derived

source: 26 USC 68(a)-(b)

- name: section_68_reduction_applies_to_individual
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 68(a)-(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: In the case of an individual
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/68/b#section_68_applied_after_other_itemized_deduction_limitations
            output: section_68_applied_after_other_itemized_deduction_limitations
            hash: sha256:b414ea74c35ae01658716b730dec1427c8db0e9ae0b7e0be3f4c8f08a8ec5906
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        taxpayer_is_individual
        and section_68_applied_after_other_itemized_deduction_limitations

itemized_deduction_reduction_base

Derived

source: 26 USC 68(a)(1)-(2)

- name: itemized_deduction_reduction_base
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 68(a)(1)-(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: >-
              lesser of— (1) such amount of itemized deductions, or (2) so much of the taxable
              income ... as exceeds the dollar amount at which the 37 percent rate bracket under
              section 1 begins
        - path: versions[0].formula
          kind: import
          import:
            target: us:policies/irs/rev-proc-2025-32/income-tax-brackets#income_tax_bracket_6_threshold
            output: income_tax_bracket_6_threshold
            hash: sha256:71d48be45e0ef2301d016959a784d2f27cb18c8e2a1c79c941f096790199e1c2
  versions:
    - effective_from: '2026-01-01'
      formula: >-
        if section_68_reduction_applies_to_individual: min(
        itemized_deductions_otherwise_allowable_after_other_limitations, max( 0,
        taxable_income_determined_without_section_68 +
        itemized_deductions_otherwise_allowable_after_other_limitations -
        income_tax_bracket_6_threshold ) ) else: 0

itemized_deduction_reduction_under_section_68

Derived

source: 26 USC 68(a)

- name: itemized_deduction_reduction_under_section_68
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 68(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: shall be reduced by 2 / 37 of the lesser of
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        itemized_deduction_reduction_base
        * itemized_deduction_reduction_numerator
        / itemized_deduction_reduction_denominator

itemized_deductions_allowed_after_section_68

Derived

source: 26 USC 68(a)-(b)

- name: itemized_deductions_allowed_after_section_68
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 68(a)-(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: the amount of the itemized deductions otherwise allowable ... shall be reduced
        - path: versions[0].formula
          kind: ordering
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: >-
              applied after the application of any other limitation on the allowance of any itemized
              deduction
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        max(
            0,
            itemized_deductions_otherwise_allowable_after_other_limitations
            - itemized_deduction_reduction_under_section_68
        )

loading…

1 rule

Official source

graph ↗build calculator ↗

such amount of itemized deductions, or

in view

Whole section

Encodings · 1

itemized_deduction_reduction_base26 USC § 68 (a)(1) · derived

26 USC 68(a)(1)-(2)

name: itemized_deduction_reduction_base
kind: derived
entity: TaxUnit
dtype: Money
period: Year
unit: USD
source: 26 USC 68(a)(1)-(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/68
          excerpt: >-
            lesser of— (1) such amount of itemized deductions, or (2) so much of
            the taxable income ... as exceeds the dollar amount at which the 37
            percent rate bracket under section 1 begins
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:policies/irs/rev-proc-2025-32/income-tax-brackets#income_tax_bracket_6_threshold
          output: income_tax_bracket_6_threshold
          hash: >-
            sha256:71d48be45e0ef2301d016959a784d2f27cb18c8e2a1c79c941f096790199e1c2
versions:
  - effective_from: '2026-01-01'
    formula: >-
      if section_68_reduction_applies_to_individual: min(
      itemized_deductions_otherwise_allowable_after_other_limitations, max( 0,
      taxable_income_determined_without_section_68 +
      itemized_deductions_otherwise_allowable_after_other_limitations -
      income_tax_bracket_6_threshold ) ) else: 0

open in graph ↗

▸rulespec code

Shown source

statutes/26/68.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/68; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

itemized_deduction_reduction_numerator

Parameter

source: 26 USC 68(a)

- name: itemized_deduction_reduction_numerator
  kind: parameter
  dtype: Integer
  source: 26 USC 68(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: reduced by 2 / 37
  versions:
    - effective_from: '1990-01-01'
      formula: '2'

itemized_deduction_reduction_denominator

Parameter

source: 26 USC 68(a)

- name: itemized_deduction_reduction_denominator
  kind: parameter
  dtype: Integer
  source: 26 USC 68(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: reduced by 2 / 37
  versions:
    - effective_from: '1990-01-01'
      formula: '37'

section_68_reduction_applies_to_individual

Derived

source: 26 USC 68(a)-(b)

- name: section_68_reduction_applies_to_individual
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 68(a)-(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: In the case of an individual
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/68/b#section_68_applied_after_other_itemized_deduction_limitations
            output: section_68_applied_after_other_itemized_deduction_limitations
            hash: sha256:b414ea74c35ae01658716b730dec1427c8db0e9ae0b7e0be3f4c8f08a8ec5906
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        taxpayer_is_individual
        and section_68_applied_after_other_itemized_deduction_limitations

itemized_deduction_reduction_base

Derived

source: 26 USC 68(a)(1)-(2)

- name: itemized_deduction_reduction_base
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 68(a)(1)-(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: >-
              lesser of— (1) such amount of itemized deductions, or (2) so much of the taxable
              income ... as exceeds the dollar amount at which the 37 percent rate bracket under
              section 1 begins
        - path: versions[0].formula
          kind: import
          import:
            target: us:policies/irs/rev-proc-2025-32/income-tax-brackets#income_tax_bracket_6_threshold
            output: income_tax_bracket_6_threshold
            hash: sha256:71d48be45e0ef2301d016959a784d2f27cb18c8e2a1c79c941f096790199e1c2
  versions:
    - effective_from: '2026-01-01'
      formula: >-
        if section_68_reduction_applies_to_individual: min(
        itemized_deductions_otherwise_allowable_after_other_limitations, max( 0,
        taxable_income_determined_without_section_68 +
        itemized_deductions_otherwise_allowable_after_other_limitations -
        income_tax_bracket_6_threshold ) ) else: 0

itemized_deduction_reduction_under_section_68

Derived

source: 26 USC 68(a)

- name: itemized_deduction_reduction_under_section_68
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 68(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: shall be reduced by 2 / 37 of the lesser of
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        itemized_deduction_reduction_base
        * itemized_deduction_reduction_numerator
        / itemized_deduction_reduction_denominator

itemized_deductions_allowed_after_section_68

Derived

source: 26 USC 68(a)-(b)

- name: itemized_deductions_allowed_after_section_68
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 68(a)-(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: the amount of the itemized deductions otherwise allowable ... shall be reduced
        - path: versions[0].formula
          kind: ordering
          source:
            corpus_citation_path: us/statute/26/68
            excerpt: >-
              applied after the application of any other limitation on the allowance of any itemized
              deduction
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        max(
            0,
            itemized_deductions_otherwise_allowable_after_other_limitations
            - itemized_deduction_reduction_under_section_68
        )