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Coordination with income averaging for farmers and fishermen

Solely for purposes of this section, section 1301 (relating to averaging of farm and fishing income) shall not apply in computing the regular tax liability.

in view

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statutes/26/55.yaml

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Rules

amt_lower_rate

Parameter

source: 26 USC 55(b)(1)(A)(i)

- name: amt_lower_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 55(b)(1)(A)(i)
  versions:
    - effective_from: '2026-01-01'
      formula: '0.26'

amt_higher_rate

Parameter

source: 26 USC 55(b)(1)(A)(ii)

- name: amt_higher_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 55(b)(1)(A)(ii)
  versions:
    - effective_from: '2026-01-01'
      formula: '0.28'

amt_exemption_phaseout_rate

Parameter

source: 26 USC 55(d)(4)(A)(ii)(IV)

- name: amt_exemption_phaseout_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 55(d)(4)(A)(ii)(IV)
  versions:
    - effective_from: '2026-01-01'
      formula: '0.50'

amt_excluded_deductions

Derived

source: 26 USC 55(b)(2)(D), 26 USC 56(b)(1)(D)

- name: amt_excluded_deductions
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(2)(D), 26 USC 56(b)(1)(D)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if tax_unit_itemizes:
            salt_deduction + misc_deduction
        else:
            standard_deduction

amt_separate_addition

Derived

source: 26 USC 55(d)(2), 55(d)(4)(A)(ii)(IV)

- name: amt_separate_addition
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d)(2), 55(d)(4)(A)(ii)(IV)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if filing_status == 2:
            min(
                amt_exemption_base_amount,
                amt_exemption_phaseout_rate
                * max(
                    0,
                    taxable_income
                    + amt_excluded_deductions
                    - amt_exemption_complete_phaseout_separate
                )
            )
        else:
            0

amt_income

Derived

source: 26 USC 55(b)(2)(D), 26 USC 56

- name: amt_income
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(2)(D), 26 USC 56
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        taxable_income
        + amt_excluded_deductions
        + amt_separate_addition
        + exemptions

amt_exemption_phaseout

Derived

source: 26 USC 55(d)(2), 55(d)(4)

- name: amt_exemption_phaseout
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d)(2), 55(d)(4)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        amt_exemption_phaseout_rate
        * max(0, amt_income - amt_exemption_phaseout_start)

amt_exemption_before_kiddie_tax_limit

Derived

source: 26 USC 55(d)

- name: amt_exemption_before_kiddie_tax_limit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d)
  versions:
    - effective_from: '2026-01-01'
      formula: max(0, amt_exemption_base_amount - amt_exemption_phaseout)

amt_kiddie_tax_exemption_limit

Derived

source: 26 USC 59(j), Rev. Proc. 2025-32 section 3.11

- name: amt_kiddie_tax_exemption_limit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 59(j), Rev. Proc. 2025-32 section 3.11
  versions:
    - effective_from: '2026-01-01'
      formula: filer_adjusted_earnings + amt_kiddie_tax_exemption_addition

amt_exemption

Derived

source: 26 USC 55(d), 26 USC 59(j)

- name: amt_exemption
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d), 26 USC 59(j)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if amt_kiddie_tax_applies:
            min(
                amt_exemption_before_kiddie_tax_limit,
                amt_kiddie_tax_exemption_limit
            )
        else:
            amt_exemption_before_kiddie_tax_limit

amt_income_for_exemption_offset

Derived

source: 26 USC 55(b)(1)(B), 26 USC 59(j)

- name: amt_income_for_exemption_offset
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(B), 26 USC 59(j)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if amt_kiddie_tax_applies:
            taxable_income
        else:
            amt_income

amt_income_less_exemptions

Derived

source: 26 USC 55(b)(1)(B), 55(d), 26 USC 59(j)

- name: amt_income_less_exemptions
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(B), 55(d), 26 USC 59(j)
  versions:
    - effective_from: '2026-01-01'
      formula: max(0, amt_income_for_exemption_offset - amt_exemption)

amt_lower_base_tax

Derived

source: 26 USC 55(b)(1)(A)(i)

- name: amt_lower_base_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A)(i)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        amt_lower_rate
        * min(amt_income_less_exemptions, amt_twenty_eight_percent_threshold)

amt_higher_base_tax

Derived

source: 26 USC 55(b)(1)(A)(ii)

- name: amt_higher_base_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A)(ii)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        amt_higher_rate
        * max(
            0,
            amt_income_less_exemptions - amt_twenty_eight_percent_threshold
        )

amt_base_tax

Derived

source: 26 USC 55(b)(1)(A)

- name: amt_base_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A)
  versions:
    - effective_from: '2026-01-01'
      formula: amt_lower_base_tax + amt_higher_base_tax

amt_tax_before_foreign_tax_credit

Derived

source: 26 USC 55(b)(1)(A), 55(b)(3)

- name: amt_tax_before_foreign_tax_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A), 55(b)(3)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if amt_part_iii_required:
            min(amt_base_tax, amt_tax_including_capital_gains)
        else:
            amt_base_tax

alternative_minimum_tax

Derived

source: 26 USC 55(a), 55(b)(1)(A)

- name: alternative_minimum_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(a), 55(b)(1)(A)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        max(
            0,
            (
                amt_tax_before_foreign_tax_credit
                - alternative_minimum_tax_foreign_tax_credit
            )
            - max(
                0,
                regular_tax_before_credits
                + capital_gains_tax
                - alternative_minimum_tax_foreign_tax_credit
                - form_4972_lumpsum_distributions
            )
        )

income_tax_before_credits

Derived

source: 26 USC 1 and 55(a)

- name: income_tax_before_credits
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 1 and 55(a)
  versions:
    - effective_from: '2026-01-01'
      formula: income_tax_main_rates + capital_gains_tax + alternative_minimum_tax

▸citations (1)

References

This rule cites 1 other rule.

26 USC § 1301inferredUS Federal › Statutes › Title 26 › § 1301

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us/statute/26/55/c/2 — Coordination with income averaging for farmers and fishermen · Axiom

Coordination with income averaging for farmers and fishermen

Official source

Solely for purposes of this section, section 1301 (relating to averaging of farm and fishing income) shall not apply in computing the regular tax liability.

in view

Whole section

▸rulespec code

Shown source

statutes/26/55.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/55; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

amt_lower_rate

Parameter

source: 26 USC 55(b)(1)(A)(i)

- name: amt_lower_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 55(b)(1)(A)(i)
  versions:
    - effective_from: '2026-01-01'
      formula: '0.26'

amt_higher_rate

Parameter

source: 26 USC 55(b)(1)(A)(ii)

- name: amt_higher_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 55(b)(1)(A)(ii)
  versions:
    - effective_from: '2026-01-01'
      formula: '0.28'

amt_exemption_phaseout_rate

Parameter

source: 26 USC 55(d)(4)(A)(ii)(IV)

- name: amt_exemption_phaseout_rate
  kind: parameter
  dtype: Rate
  source: 26 USC 55(d)(4)(A)(ii)(IV)
  versions:
    - effective_from: '2026-01-01'
      formula: '0.50'

amt_excluded_deductions

Derived

source: 26 USC 55(b)(2)(D), 26 USC 56(b)(1)(D)

- name: amt_excluded_deductions
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(2)(D), 26 USC 56(b)(1)(D)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if tax_unit_itemizes:
            salt_deduction + misc_deduction
        else:
            standard_deduction

amt_separate_addition

Derived

source: 26 USC 55(d)(2), 55(d)(4)(A)(ii)(IV)

- name: amt_separate_addition
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d)(2), 55(d)(4)(A)(ii)(IV)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if filing_status == 2:
            min(
                amt_exemption_base_amount,
                amt_exemption_phaseout_rate
                * max(
                    0,
                    taxable_income
                    + amt_excluded_deductions
                    - amt_exemption_complete_phaseout_separate
                )
            )
        else:
            0

amt_income

Derived

source: 26 USC 55(b)(2)(D), 26 USC 56

- name: amt_income
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(2)(D), 26 USC 56
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        taxable_income
        + amt_excluded_deductions
        + amt_separate_addition
        + exemptions

amt_exemption_phaseout

Derived

source: 26 USC 55(d)(2), 55(d)(4)

- name: amt_exemption_phaseout
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d)(2), 55(d)(4)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        amt_exemption_phaseout_rate
        * max(0, amt_income - amt_exemption_phaseout_start)

amt_exemption_before_kiddie_tax_limit

Derived

source: 26 USC 55(d)

- name: amt_exemption_before_kiddie_tax_limit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d)
  versions:
    - effective_from: '2026-01-01'
      formula: max(0, amt_exemption_base_amount - amt_exemption_phaseout)

amt_kiddie_tax_exemption_limit

Derived

source: 26 USC 59(j), Rev. Proc. 2025-32 section 3.11

- name: amt_kiddie_tax_exemption_limit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 59(j), Rev. Proc. 2025-32 section 3.11
  versions:
    - effective_from: '2026-01-01'
      formula: filer_adjusted_earnings + amt_kiddie_tax_exemption_addition

amt_exemption

Derived

source: 26 USC 55(d), 26 USC 59(j)

- name: amt_exemption
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(d), 26 USC 59(j)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if amt_kiddie_tax_applies:
            min(
                amt_exemption_before_kiddie_tax_limit,
                amt_kiddie_tax_exemption_limit
            )
        else:
            amt_exemption_before_kiddie_tax_limit

amt_income_for_exemption_offset

Derived

source: 26 USC 55(b)(1)(B), 26 USC 59(j)

- name: amt_income_for_exemption_offset
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(B), 26 USC 59(j)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if amt_kiddie_tax_applies:
            taxable_income
        else:
            amt_income

amt_income_less_exemptions

Derived

source: 26 USC 55(b)(1)(B), 55(d), 26 USC 59(j)

- name: amt_income_less_exemptions
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(B), 55(d), 26 USC 59(j)
  versions:
    - effective_from: '2026-01-01'
      formula: max(0, amt_income_for_exemption_offset - amt_exemption)

amt_lower_base_tax

Derived

source: 26 USC 55(b)(1)(A)(i)

- name: amt_lower_base_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A)(i)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        amt_lower_rate
        * min(amt_income_less_exemptions, amt_twenty_eight_percent_threshold)

amt_higher_base_tax

Derived

source: 26 USC 55(b)(1)(A)(ii)

- name: amt_higher_base_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A)(ii)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        amt_higher_rate
        * max(
            0,
            amt_income_less_exemptions - amt_twenty_eight_percent_threshold
        )

amt_base_tax

Derived

source: 26 USC 55(b)(1)(A)

- name: amt_base_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A)
  versions:
    - effective_from: '2026-01-01'
      formula: amt_lower_base_tax + amt_higher_base_tax

amt_tax_before_foreign_tax_credit

Derived

source: 26 USC 55(b)(1)(A), 55(b)(3)

- name: amt_tax_before_foreign_tax_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(b)(1)(A), 55(b)(3)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        if amt_part_iii_required:
            min(amt_base_tax, amt_tax_including_capital_gains)
        else:
            amt_base_tax

alternative_minimum_tax

Derived

source: 26 USC 55(a), 55(b)(1)(A)

- name: alternative_minimum_tax
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 55(a), 55(b)(1)(A)
  versions:
    - effective_from: '2026-01-01'
      formula: |-
        max(
            0,
            (
                amt_tax_before_foreign_tax_credit
                - alternative_minimum_tax_foreign_tax_credit
            )
            - max(
                0,
                regular_tax_before_credits
                + capital_gains_tax
                - alternative_minimum_tax_foreign_tax_credit
                - form_4972_lumpsum_distributions
            )
        )

income_tax_before_credits

Derived

source: 26 USC 1 and 55(a)

- name: income_tax_before_credits
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 1 and 55(a)
  versions:
    - effective_from: '2026-01-01'
      formula: income_tax_main_rates + capital_gains_tax + alternative_minimum_tax

▸citations (1)

References

This rule cites 1 other rule.

26 USC § 1301inferredUS Federal › Statutes › Title 26 › § 1301