applicable tax limit
Defined in 1 place of the United States Code.
For purposes of this paragraph, the term “applicable tax limit” means—
(i) in the case of a taxable year to which section 26(a)(2) applies, the limitation imposed by section 26(a)(2) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 25D, and 1400C), and
(ii) in the case of a taxable year to which section 26(a)(2) does not apply, the limitation imposed by section 26(a)(1) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, 25A(i), 25B, 25D, 30, 30B, 30D, and 1400C).
Source
- 2009–201226 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means—
(i) in the case of a taxable year to which section 26(a)(2) applies, the limitation imposed by section 26(a)(2) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 25D, and 1400C), and
(ii) in the case of a taxable year to which section 26(a)(2) does not apply, the limitation imposed by section 26(a)(1) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, 25B, 25D, 30D, and 1400C).
Source
- 2008–200926 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means—
(i) in the case of a taxable year to which section 26(a)(2) applies, the limitation imposed by section 26(a)(2) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 25D, and 1400C), and
(ii) in the case of a taxable year to which section 26(a)(2) does not apply, the limitation imposed by section 26(a)(1) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, 25B, 25D, and 1400C).
Source
- 2005–200826 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means—
(i) in the case of a taxable year to which section 26(a)(2) applies, the limitation imposed by section 26(a)(2) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 25D,1 and 1400C), and
(ii) in the case of a taxable year to which section 26(a)(2) does not apply, the limitation imposed by section 26(a)(1) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 24, 25A(i), 25B, 25D, 30, 30B, 30D, and 1400C).
Source
- 2010–201126 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section).
Source
- 1994–199626 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and section 23).
Source
- 1996–199826 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, 25B, and 1400C).
Source
- 2001–200526 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 25D, and 1400C).
Source
- 2012–201826 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23 and 1400C).
Source
- 1998–200126 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section
For purposes of this paragraph, the term “applicable tax limit” means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23 and 25D).
Source
- 2018–present26 U.S.C. § 25Internal Revenue Code · Interest on certain home mortgages · for purposes of this section