Meaning of contribution base | Babel Free

Definitions

The adjusted gross income of a taxpayer, excluding any deductions for net operating loss carrybacks.

uncountable

Equivalents

Examples

“The maximum federal income tax charitable contribution deduction for a tax year for an individual is 50 percent of his or her contribution base.”

“As the average annual growth in the contribution base over the same period was only 0.3 percent, the common simplification that the rate of return equals the growth in the contribution base revealed less than half of the true return.”

“Such taxpayers calculate their contribution base jointly and can deduct charitable contributions, by whomever made, up to the applicable percentage of the joint contribution base.”

CEFR level