Pease limitation for high-income earners
GPTKB entity
Statements (21)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
tax provision
|
| gptkbp:alsoKnownAs |
Pease limitation
|
| gptkbp:appliesTo |
itemized deductions
high-income taxpayers |
| gptkbp:compatibleWith |
medical expenses
casualty and theft losses investment interest gambling losses |
| gptkbp:country |
gptkb:United_States
|
| gptkbp:enactedBy |
gptkb:Omnibus_Budget_Reconciliation_Act_of_1990
|
| https://www.w3.org/2000/01/rdf-schema#label |
Pease limitation for high-income earners
|
| gptkbp:IRSSection |
Section 68 of the Internal Revenue Code
|
| gptkbp:maximumReduction |
up to 80% of itemized deductions
|
| gptkbp:namedAfter |
gptkb:Donald_Pease
|
| gptkbp:reasonForSuspension |
gptkb:Tax_Cuts_and_Jobs_Act_of_2017
2018 through 2025 |
| gptkbp:reduces |
itemized deductions
|
| gptkbp:reductionRate |
3% of adjusted gross income above threshold
|
| gptkbp:thresholdIndexedTo |
filing status
|
| gptkbp:bfsParent |
gptkb:American_Taxpayer_Relief_Act_of_2012
|
| gptkbp:bfsLayer |
5
|