The phrase
"phaseout threshold" refers to a specific point or level at which something is gradually reduced or eliminated.
Full definition
[9] At this income level, Bobbie and Emil's itemized deductions are reduced by 3 % of the excess of their AGI ($ 445,000) over the 2018
phaseout threshold of $ 320,000, or by $ 3,750.
It also raises the adjusted gross
income phaseout threshold, starting at the adjusted gross income of $ 400,000 for joint filers and $ 200,000 for all others.
the higher
EITC phaseout threshold for married couples filing jointly ($ 5,000 above that for single filers, indexed for inflation);
[13] At this income level, David and Valerie's itemized deductions are reduced by 3 % of the excess of their AGI ($ 450,000) over the 2018
phaseout threshold of $ 320,000, or by $ 3,900.
For example, the child tax credit decreases by $ 50 for every $ 1,000 or part of $ 1,000 in additional income above
the phaseout threshold.
The new doubles the maximum allowance to $ 1 million and increases
the phaseout threshold to $ 2.5 million.
Phaseouts that are not adjusted for inflation affect more taxpayers over time, as inflation raises nominal incomes and thus lifts more taxpayers above
the phaseout thresholds.
The phaseout thresholds are not indexed for inflation.
In 2018, the credit will be available to far more households, thanks to a massive raise in
the phaseout thresholds.
A married couple is treated as a single taxpayer with respect to the dollar limit and
phaseout threshold, which are indexed for inflation.
* The credit is reduced if your adjusted gross income is above the predetermined amount (or
phaseout threshold) for qualification.