S.3120: A bill to amend the Internal Revenue Code of 1986 to increase the income limitations for qualified performing artists eligible for an above-the-line deduction for performance expenses.

Amends the Internal Revenue Code to increase from $16,000 to $30,000 the adjusted gross income limitation applicable to qualified performing artists who are eligible to deduct their performance expenses from gross income (above-the-line tax deduction). Provides for an inflation adjustment to such increased income limitation beginning in 2009.