pease limitation calculator Pease Limitation calculator is here to make the life of taxpayers easy ! As you know the Pease limitation  was added to the Internal Revenue Code under section 68 in the year 1991. This provision limits the amount of certain itemized deductions . The Pease limitation affects taxpayers who are  in the 33% marginal table rates and above. In effect , this limitation on deduction actually garners more dollars for federal government from rich tax payer without raising tax rates for them.The reduction amount  is the lesser of

  • 3% of AGI  over a threshold or
  • by 80% of total deductions.

The calculation  is based on the adjusted gross income (AGI) of the taxpayer . You can read what is pease limitation here

Pease limitation calculator

Care is taken to make the pease limitation calculator error free. Please give feedback if you find an error

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Prashant Thakur

Prashant Thakur

Prashant Thakur is a practicing tax advisor on Income Tax Act of India . He also blogs on US taxation law (IRC) . He has more than 30 years of experience in dealing with tax issues ( 20 years on the other side of the table i.e for Income Tax department) . He has written three books - Tax Evasion Through Shares( 2008 & 2012) , Taxing Question Simple Answer (2013) and Crypto Taxation in USA (2022) . Other than taxation , he has great interest in cloud technology, WordPress and is found of small tech company .
Prashant Thakur
Prashant Thakur
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