net unearned income

(A)The term “net unearned income” means the excess of— (i)the portion of the adjusted gross income for the taxable year which is not attributable to earned income (as defined in), over (ii)the sum of— (I)the amount in effect for the taxable year under section 63(c)(5)(A) (relating to limitation on standard deduction in the case of certain dependents), plus (II)the greater of the amount described in subclause (I) or, if the child itemizes his deductions for the taxable year, the amount of the itemized deductions allowed by this chapter for the taxable year which are directly connected with the production of the portion of adjusted gross income referred to in clause (i). (B)The amount of the net unearned income for any taxable year shall not exceed the individual’s taxable income for such taxable year. (C)For purposes of this subsection, in the case of any child who is a beneficiary of a qualified disability trust (as defined in), any amount included in the income of such child under sections 652 and 662 during a taxable year shall be considered earned income of such child for such taxable year.

Source

26 USC § 1(g)(4)(A)


Scoping language

None: Default is title Scope
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