applicable fraction
Defined in 2 places of the United States Code.
For purposes of subparagraph (A), the term “applicable fraction” means the fraction the numerator of which is the amount described in subparagraph (A)(ii) and the denominator of which is the amount described in subparagraph (A)(i).
Source
- 1994–present26 U.S.C. § 135Internal Revenue Code · Income from United States savings bonds used to pay higher education tuition and fees · in this section
For purposes of subparagraph (A), the term “applicable fraction” means the smaller of the unit fraction or the floor space fraction.
Source
- 1994–present26 U.S.C. § 42Internal Revenue Code · Low-income housing credit · for purposes of this section