Adjustment for inflation
In the case of any taxable year beginning after December 31, 2013 , the dollar amount in paragraph (1) shall be increased by an amount equal to—
(A)#
such amount, multiplied by
(B)#
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which such taxable year begins by substituting “calendar year 2012” for “calendar year 2016” in subparagraph (A)(ii) thereof.
If any increase determined under this paragraph is not a multiple of $50, such increase shall be rounded to the next lowest multiple of $50.