13) Phaseout of § 24 Child credit phased out: child credit Single or HH: $75,000 variousi [(AGI 75,000) ÷ 1,000](round up to – − Statutory rate + 5% whole number) × $50 (1 M) Joint: $110,000 variousi [(AGI 110,000) ÷ 1,000](round up to – − whole number) × $50 Provision Effective MTR Relevant Adjusted Income (estimated number How Phaseout Works Code § (AGI) Range by Filing Status in relevant AGI range) 14) Phaseout of § 469(i) Maximum allowable deduction: Statutory rate × 1.5 (assuming allowable rental maximum deduction of $25,000 if not $100,000 $150,000i – real estate loss for phaseout)q $25,000 × deduction [1 (AGI $100,000) ÷ $50,000] – – (Not available) 15) Phaseout of § 23 $201,920 $241,920i Credit: Credit: Statutory rate + 0.337 (assumes – adoption credit $Adoption expenses (maximum maximum credit of $13,460 if not for $13,460) × [1 (AGI $201,920) ÷ phaseout)r − − (Not available) $40,000] 16) 10% floor for § 213 Any taxpayer claiming medical Deduction phased out: Statutory rate × 1.10 medical deductions deductions 10% × AGI (7.5% if taxpayer is age 65 or over) (11 M) (1.075 if taxpayer is age 65 or over) 17) 2% floor for § 67 Any taxpayer claiming miscellaneous Deduction phased out: Statutory rate × 1.02 miscellaneous deductions subject to the 2% floor 2% × AGI deductions (12 M) 18) 10% floor for § 165 Any taxpayer claiming casualty loss Deduction phased out: Statutory rate × 1.10 casualty loss (h)(2) deductions 10% × AGI deductions (0.1 M)
13) Phaseout of child credit (1 M) § 24 Single or HH: $75,000 – variousi Joint: $110,000 – variousi Child credit phased out: [(AGI − 75,000) ÷ 1,000](round up to whole number) × $50 [(AGI − 110,000) ÷ 1,000](round up to whole number) × $50 Statutory rate + 5% Provision (estimated number in relevant AGI range) Code § Relevant Adjusted Income (AGI) Range by Filing Status How Phaseout Works Effective MTR 14) Phaseout of allowable rental real estate loss deduction (Not available) § 469(i) $100,000 – $150,000i Maximum allowable deduction: $25,000 × [1 – (AGI – $100,000) ÷ $50,000] Statutory rate × 1.5 (assuming maximum deduction of $25,000 if not for phaseout)q 15) Phaseout of adoption credit (Not available) § 23 $201,920 – $241,920i Credit: $Adoption expenses (maximum $13,460) × [1 − (AGI − $201,920) ÷ $40,000] Credit: Statutory rate + 0.337 (assumes maximum credit of $13,460 if not for phaseout)r 16) 10% floor for medical deductions (11 M) § 213 Any taxpayer claiming medical deductions Deduction phased out: 10% × AGI (7.5% if taxpayer is age 65 or over) Statutory rate × 1.10 (1.075 if taxpayer is age 65 or over) 17) 2% floor for miscellaneous deductions (12 M) § 67 Any taxpayer claiming miscellaneous deductions subject to the 2% floor Deduction phased out: 2% × AGI Statutory rate × 1.02 18) 10% floor for casualty loss deductions (0.1 M) § 165 (h)(2) Any taxpayer claiming casualty loss deductions Deduction phased out: 10% × AGI Statutory rate × 1.10
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