26 U.S.C. § 68
Overall limitation on itemized deductions
# (a) In general
In the case of an individual, the amount of the itemized deductions otherwise allowable for the taxable year (determined without regard to this section) shall be reduced by 2 ⁄37 of the lesser of— (1) such amount of itemized deductions, or (2) so much of the taxable income of the taxpayer for the taxable year (determined without regard to this section and increased by such amount of itemized deductions) as exceeds the dollar amount at which the 37 percent rate bracket under section 1 begins with respect to the taxpayer.
# (b) Coordination with other limitations
This section shall be applied after the application of any other limitation on the allowance of any itemized deduction.
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Cited by 9
- 26 CFR § 1.1301-1 — Averaging of farm and fishing income.
- 26 CFR § 1.1411-0 — Table of contents of provisions applicable to section 1411.
- 26 CFR § 1.1411-4 — Definition of net investment income.
- 26 U.S.C. § 1 — Tax imposed
- 26 U.S.C. § 151 — Allowance of deductions for personal exemptions
- 26 U.S.C. § 164 — Taxes
- 26 U.S.C. § 199A — Qualified business income
- 26 U.S.C. § 56 — Adjustments in computing alternative minimum taxable income
- 26 U.S.C. § 642 — Special rules for credits and deductions
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