is amended by striking subparagraph (D) and by inserting after subparagraph (C) the following new subparagraph: (D) Applicable limitation amount For purposes of this paragraph, the term applicable limitation amount means the amount that is the sum of— (i) $10,000, and (ii) $2,000 for each individual described in subparagraph (A) or (B) of section 21(b)(1) with respect to the taxpayer. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2024.