phaseout percentage

(4) Application of phaseout to high income individuals (A) In general Subsection (a)(2) shall be applied by substituting “the phaseout percentage” for “20 percent”. (B) Phaseout percentage The term “phaseout percentage” means 20 percent reduced (but not below zero) by 1 percentage point for each $2,000 (or fraction thereof) by which the taxpayer’s adjusted gross income for the taxable year exceeds $400,000.

Source

26 USC § 21(g)(4)

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Scoping language

None identified, default scope is assumed to be the parent (subpart A) of this section.

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