Phase out

A phase-out in the financial world refers to the gradual reduction of a tax credit that a taxpayer is eligible for as their income approaches the limit to qualify for that credit. A specified income range determines who qualifies for a specific tax credit. The lower income is eligible for the maximum amount, and the higher income is eligible for the minimal amount. Taxpayer’s income that exceeds the upper limit is ineligible for the credit—Read more at Investopedia. Kagan, Julia. “Phase Out.” 28 February 2018