The deduction may not exceed $12,500, or $25,000 on a joint return
What the document says“The amount allowed as a deduction under this section for any taxable year shall not exceed $12,500 ($25,000 in the case of a joint return).”
The section caps the deduction at $12,500 for a taxable year, or $25,000 on a joint return.
What the document actually says“The amount allowed as a deduction under this section for any taxable year shall not exceed $12,500 ($25,000 in the case of a joint return).”
That sentence, in plain words
The deduction may not top $12,500. On a joint return the cap is $25,000.
What this is about
Overtime above that gets no break. The cap does not grow with prices. It is fixed in the law.
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