Limitation based on adjusted gross income
(1) In general
(1)In general#
The amount of the credit allowed by subsection (a) (determined without regard to this subsection and subsection (f)) shall be reduced (but not below zero) by the amount which bears the same ratio to such credit (as so determined) as—
(A) the excess of— (i) the taxpayer’s adjusted gross income for such taxable year, over (ii) $75,000, bears to
(B) $5,000.
(1)(A)#
the excess of—
(i) the taxpayer’s adjusted gross income for such taxable year, over
(ii) $75,000, bears to
(1)(A)(i)#
the taxpayer’s adjusted gross income for such taxable year, over
(1)(A)(ii)#
$75,000, bears to
(1)(B)
(2)Special rules#
(A) Joint return or surviving spouse In the case of a joint return or a surviving spouse (as defined in section 2(a)), paragraph (1) shall be applied by substituting “$150,000” for “$75,000” and “$10,000” for “$5,000”.
(B) Head of household In the case of a head of household (as defined in section 2(b)), paragraph (1) shall be applied by substituting “$112,500” for “$75,000” and “$7,500” for “$5,000”.
(2)(A)Joint return or surviving spouse#
In the case of a joint return or a surviving spouse (as defined in section 2(a)), paragraph (1) shall be applied by substituting “$150,000” for “$75,000” and “$10,000” for “$5,000”.
(2)(B)Head of household#
In the case of a head of household (as defined in section 2(b)), paragraph (1) shall be applied by substituting “$112,500” for “$75,000” and “$7,500” for “$5,000”.