Limitation on use of preceding year’s tax
(i) In general
(i)In general#
If the adjusted gross income shown on the return of the individual for the preceding taxable year beginning in any calendar year exceeds $150,000, clause (ii) of subparagraph (B) shall be applied by substituting “110 percent” for “100 percent”.
(ii)Separate returns#
In the case of a married individual (within the meaning of section 7703) who files a separate return for the taxable year for which the amount of the installment is being determined, clause (i) shall be applied by substituting “$75,000” for “$150,000”.
(iii)Special rule#
In the case of an estate or trust, adjusted gross income shall be determined as provided in section 67(e).