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applicable limitation amount

Defined in 1 place of the United States Code.

For purposes of paragraph (6), the term “applicable limitation amount” means—

(i) in the case of any taxable year beginning in calendar year 2025, $40,000,

(ii) in the case of any taxable year beginning in calendar year 2026, $40,400,

(iii) in the case of any taxable year beginning after calendar year 2026 and before 2030, 101 percent of the dollar amount in effect under this subparagraph for taxable years beginning in the preceding calendar year, and

(iv) in the case of any taxable year beginning after calendar year 2029, $10,000.

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