In general
The term “threshold amount” means, with respect to any taxable year, the greater of—
(I)#
$300,000 ($150,000 in the case of married individuals filing separately), or
(II)#
the excess (if any) of the aggregate amounts described in subparagraph (A)(ii)(I) for the 5-consecutive taxable year period preceding the taxable year over the aggregate amounts described in subparagraph (A)(i) for such period.