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