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.30 Interest on Education Loans. For taxable years beginning in 2023, the $2,500 maximum deduction for interest paid on qualified education loans under § 221 begins to phase out under § 221(b)(2)(B) for taxpayers with modified adjusted gross income in excess of $75,000 ($155,000 for joint returns), and is completely phased out for taxpayers with modified adjusted gross income of $90,000 or more ($185,000 or more for joint returns). .31 Limitation on Use of Cash Method of Accounting. For taxable years beginning in 2023, a corporation or partnership meets the gross receipts test of § 448(c) for any taxable year if the average annual gross receipts of such entity for the 3-taxable-year period ending with the taxable year which precedes such taxable year does not exceed $29,000,000. .32 Threshold for Excess Business Loss. For taxable years beginning in 2023, in determining a taxpayer’s excess business loss, the amount under § 461(l)(3)(A)(ii)(II) is $289,000 ($578,000 for joint returns). .33 Treatment of Dues Paid to Agricultural or Horticultural Organizations. For taxable years beginning in 2023, the limitation under § 512(d)(1), regarding the exemption of annual dues required to be paid by a member to an agricultural or horticultural organization, is $191. .34 Insubstantial Benefit Limitations for Contributions Associated with Charitable Fund-Raising Campaigns. (1) Low cost article. For taxable years beginning in 2023, for purposes of defining the term “unrelated trade or business” for certain exempt organizations under § 513(h)(2), “low cost articles” are articles costing $12.50 or less.

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.30 Interest on Education Loans. For taxable years beginning in 2023, the $2,500 maximum deduction for interest paid on qualified education loans under § 221 begins to phase out under § 221(b)(2)(B) for taxpayers with modified adjusted gross income in excess of $75,000 ($155,000 for joint returns), and is completely phased out for taxpayers with modified adjusted gross income of $90,000 or more ($185,000 or more for joint returns). .31 Limitation on Use of Cash Method of Accounting. For taxable years beginning in 2023, a corporation or partnership meets the gross receipts test of § 448(c) for any taxable year if the average annual gross receipts of such entity for the 3-taxable-year period ending with the taxable year which precedes such taxable year does not exceed $29,000,000. .32 Threshold for Excess Business Loss. For taxable years beginning in 2023, in determining a taxpayer’s excess business loss, the amount under § 461(l)(3)(A)(ii)(II) is $289,000 ($578,000 for joint returns). .33 Treatment of Dues Paid to Agricultural or Horticultural Organizations. For taxable years beginning in 2023, the limitation under § 512(d)(1), regarding the exemption of annual dues required to be paid by a member to an agricultural or horticultural organization, is $191. .34 Insubstantial Benefit Limitations for Contributions Associated with Charitable Fund-Raising Campaigns. (1) Low cost article. For taxable years beginning in 2023, for purposes of defining the term “unrelated trade or business” for certain exempt organizations under § 513(h)(2), “low cost articles” are articles costing $12.50 or less.