threshold amount

(i)The term “threshold amount” means, with respect to any taxable year, the greater of— (I)$300,000 ($150,000 in the case of married individuals filing separately), or (II)the excess (if any) of the aggregate amounts described in subparagraph (A)(ii)(I) for the 5-consecutive taxable year period preceding the taxable year over the aggregate amounts described in subparagraph (A)(i) for such period. (ii)For purposes of clause (i)(II)— (I)notwithstanding the disregard in subparagraph (A)(i) of any disallowance under paragraph (1), in the case of any loss which is carried forward under paragraph (2) from any taxable year, such loss (or any portion thereof) shall be taken into account for the first taxable year in which a deduction for such loss (or portion) is not disallowed by reason of this subsection, and (II)the Secretary shall prescribe rules for the computation of the aggregate amounts described in such clause in cases where the filing status of the taxpayer is not the same for the taxable year and each of the taxable years in the period described in such clause. (C)

Source

26 USC § 461(j)(4)(B)(i)


Scoping language

None: Default is title Scope
Is this correct? or