Reduction in permitted contributions based on adjusted gross income
(1) In general
(1)In general#
In the case of a contributor who is an individual, the maximum amount the contributor could otherwise make to an account under this section shall be reduced by an amount which bears the same ratio to such maximum amount as—
(A) the excess of— (i) the contributor’s modified adjusted gross income for such taxable year, over (ii) $95,000 ($190,000 in the case of a joint return), bears to
(B) $15,000 ($30,000 in the case of a joint return).
(1)(A)#
the excess of—
(i) the contributor’s modified adjusted gross income for such taxable year, over
(ii) $95,000 ($190,000 in the case of a joint return), bears to
(1)(A)(i)#
the contributor’s modified adjusted gross income for such taxable year, over
(1)(A)(ii)#
$95,000 ($190,000 in the case of a joint return), bears to
(2)Modified adjusted gross income#
For purposes of paragraph (1), the term “modified adjusted gross income” means the adjusted gross income of the taxpayer for the taxable year increased by any amount excluded from gross income under section 911, 931, or 933.