taxpayer for the taxable year. (b) Qualified textile reuse and recycling activity income For purposes of this section— (1) In general The term qualified textile reuse and recycling activity income means the excess (if any) of— (A) the gross income of the taxpayer derived in the course of a trade or business from— (i) the resale, repair, rental, or remanufacturing of finished textile products, (ii) the transformation of otherwise unsalable textile fiber products into new finished or unfinished goods, (iii) the collection of textile fiber products, (iv) the sorting of finished textile products and textile fiber products for activities described in clause (i) or (ii), and (v) the preparation of textile fiber products for activities described in clause (ii), over (B) the deductions (including taxes) properly allocable to such gross income. (2) Finished textile products The term finished textile products has the meaning given such term under section 139J(c). (3) Textile fiber products The term textile fiber products has the meaning given such term under section 139K(c). (c) Special rules (1) Application to partnerships and S corporations In the case of a partnership or S corporation— (A) this section shall be applied at the partner or shareholder level, and (B) each partner or shareholder shall take into account such person's allocable share of each qualified item of income, gain, deduction, and loss. (2) Coordination with minimum tax For purposes of determining alternative minimum taxable income under section 55, qualified textile reuse and recycling activity income shall be determined without regard to any adjustments under sections 56 through 59. . (2) Coordination with deduction for qualified business income Section 199A(c)(3)(B) of the Internal Revenue Code of 1986 is amended by redesignating clause (vii) as clause (viii) and by inserting after clause (vi) the following new clause: (vii) Any item of income, gain, deduction, or loss taken into account under section 199B(b)(1). . (3) Conforming amendments (A) (i)