Amended 1993, 1998, 2001, 2013, 2017, 2025
- 2025 Pub. L. 119-21 Pub. L. 119–21 amended section generally. Prior to amendment, section consisted of subsecs. (a) to (f) relating, respectively, to general rule, applicable amount, exception for certain itemized deductions, coordination with other limitations, exception for estates and trusts, and this section not applying to any taxable year beginning after Dec. 31, 2017, and before Jan. 1, 2026.
- 2017 Pub. L. 115-97 Pub. L. 115–97, § 11046(a), added subsec. (f).
- 2013 Pub. L. 112-240 Pub. L. 112–240, § 101(b)(2)(A)(ii), struck out subsecs. (f) and (g), which related to phaseout of limitation and termination of applicability of section, respectively.
- 2001 Pub. L. 107-16 Pub. L. 107–16 added subsecs. (f) and (g).
- 1998 Pub. L. 105-277 Pub. L. 105–277 substituted “for casualty or theft losses described in paragraph (2) or (3) of section 165(c) or for losses described in section 165(d)” for “for losses described in subsection (c)(3) or (d) of section 165”.
- 1993 Pub. L. 103-66 Pub. L. 103–66, § 13204, struck out heading and text of subsec. (f). Text read as follows: “This section shall not apply to any taxable year beginning after December 31, 1995.”
(a) In general In the case of an individual, the amount of the itemized deductions otherwise allowable for the taxable year (determined without regard to this section) shall be reduced by 2⁄37 of the lesser of—
(1) such amount of itemized deductions, or
(b) Coordination with other limitations This section shall be applied after the application of any other limitation on the allowance of any itemized deduction.
Amended 1993, 2013, 2017, 2018
- 2018 Pub. L. 115-141 Pub. L. 115–141 substituted “shall be” for “shall be shall be” in introductory provisions.
- 2017 Pub. L. 115-97 Pub. L. 115–97, § 11002(d)(2), substituted “1(f)(3)(A)(ii)” for “1(f)(3)(B)” and “2016” for “1992”.
- 2013 Pub. L. 112-240 Pub. L. 112–240, § 101(b)(2)(A)(i), added subsec. (b) and struck out former subsec. (b). Prior to amendment, text read as follows:
- 2013 “(1) In general.—For purposes of this section, the term ‘applicable amount’ means $100,000 ($50,000 in the case of a separate return by a married individual within the meaning of section 7703).
- 2013 “(2) Inflation adjustments.—In the case of any taxable year beginning in a calendar year after 1991, each dollar amount contained in paragraph (1) shall be increased by an amount equal to—
“(A) such dollar amount, multiplied by
“(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, by substituting ‘calendar year 1990’ for ‘calendar year 1992’ in subparagraph (B) thereof.”
- 1993 Pub. L. 103-66 Pub. L. 103–66, § 13201(b)(3)(E), substituted “1992” for “1989”.