Internal Revenue Code - Subtitle A - Index

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TITLE 26 - INTERNAL REVENUE CODE
This version of the Internal Revenue Code is up to date and current as of mid-2007.

Subtitle A - Income Taxes

CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter A - Determination of Tax Liability
PART I - TAX ON INDIVIDUALS
Sec. 1. Tax imposed
Sec. 2. Definitions and special rules
Sec. 3. Tax tables for individuals
(Sec. 4. Repealed. Pub. L. 94-455, title V, Sec. 501(b)(1), Oct. 4, 1976, 90 Stat. 1558)
Sec. 5. Cross references relating to tax on individuals
PART II - TAX ON CORPORATIONS
Sec. 11. Tax imposed
Sec. 12. Cross references relating to tax on corporations
PART III - CHANGES IN RATES DURING A TAXABLE YEAR
Sec. 15. Effect of changes
PART IV - CREDITS AGAINST TAX
Subpart A - Nonrefundable Personal Credits
Sec. 21. Expenses for household and dependent care services necessary for gainful employment
Sec. 22. Credit for the elderly and the permanently and totally disabled
Sec. 23. Adoption expenses
Sec. 24. Child tax credit
Sec. 25. Interest on certain home mortgages
Sec. 25A. Hope and Lifetime Learning credits
Sec. 25B. Elective deferrals and IRA contributions by certain individuals
Sec. 25C. Nonbusiness Energy Property
Sec. 25D. Residential Energy Efficient Property
Sec. 26. Limitation based on tax liability; definition of tax liability
Subpart B - Other Credits
Sec. 27. Taxes of foreign countries and possessions of the United States; possession tax credit
(Sec. 28. Renumbered Sec. 45C)
Sec. 29. Credit for producing fuel from a nonconventional source (REDESIGNATED Sec. 45K for tax years ending after 12/31/2005)
Sec. 30. Credit for qualified electric vehicles
Sec. 30A. Puerto Rico economic activity credit
Sec. 30B. Alternative motor vehicle credit
Sec. 30C. Alternative fuel vehicle refueling property credit
Subpart C - Refundable Credits
Sec. 31. Tax withheld on wages
Sec. 32. Earned income
Sec. 33. Tax withheld at source on nonresident aliens and foreign corporations
Sec. 34. Certain uses of gasoline and special fuels
Sec. 35. Health insurance costs of eligible individuals.
Sec. 36. Overpayments of tax
(Sec. 36. Repealed. Pub. L. 95-30, title I, Sec. 101(d)(3), May 23, 1977, 91 Stat. 133)
Subpart D - Business Related Credits
Sec. 38. General business credit
Sec. 39. Carryback and carryforward of unused credits
Sec. 40. Alcohol used as fuel
Sec. 40A. Biodiesel and renewable diesel used as fuel
Sec. 41. Credit for increasing research activities
Sec. 42. Low-income housing credit
Sec. 43. Enhanced oil recovery credit
Sec. 44. Expenditures to provide access to disabled individuals
(Sec. 44A. Renumbered Sec. 21)
(Sec. 44B. Repealed. Pub. L. 98-369, div. A, title IV, Sec. 474(m)(1), July 18, 1984, 98 Stat. 833)
(Sec. 44C. Renumbered Sec. 23)
(Sec. 44D. Renumbered Sec. 29)
(Sec. 44E. Renumbered Sec. 40)
(Sec. 44F. Renumbered Sec. 30)
(Sec. 44G. Renumbered Sec. 41)
(Sec. 44H. Renumbered Sec. 45C)
Sec. 45. Electricity produced from certain renewable resources
Sec. 45A. Indian employment credit
Sec. 45B. Credit for portion of employer social security taxes paid with respect to employee cash tips
Sec. 45C. Clinical testing expenses for certain drugs for rare diseases or conditions
Sec. 45D. New markets tax credit
Sec. 45E. Small employer pension plan startup costs
Sec. 45F. Employer-provided child care credit
Sec. 45G. Railroad track maintenance credit
Sec. 45H. Credit for production of low sulfur diesel fuel
Sec. 45I. Credit for producing oil and gas from marginal wells
Sec. 45J. Credit for production from advanced nuclear power facilities
Sec. 45K. Credit for producing fuel from a nonconventional source
Sec. 45L. New Energy Efficient Home Credit
Sec. 45M. Energy Efficient Appliance Credit
Sec. 45N. Mine rescue team training credit
Subpart E - Rules for Computing Investment Credit
Sec. 46. Amount of credit
Sec. 47. Rehabilitation credit
Sec. 48. Energy credit
Sec. 48A. Qualifying advanced coal project credit
Sec. 48B. Qualifying gasification project credit
Sec. 49. At-risk rules
Sec. 50. Other special rules
(Sec. 50A, 50B. Repealed. Pub. L. 98-369, div. A, title IV, Sec. 474(m)(2), July 18, 1984, 98 Stat. 833)
Subpart F - Rules for Computing Work Opportunity Credit
Sec. 51. Amount of credit
Sec. 51A. Temporary incentives for employing long-term family assistance recipients (repealed)
Sec. 52. Special rules
Subpart G - Credit Against Regular Tax for Prior Year Minimum Tax Liability
Sec. 53. Credit for prior year minimum tax liability
Subpart H - Nonrefundable Credit to Holders of Certain Bonds
Sec. 54. Credit to holders of clean renewable energy bonds.
(PART V - REPEALED)
PART VI - ALTERNATIVE MINIMUM TAX
Sec. 55. Alternative minimum tax imposed
Sec. 56. Adjustments in computing alternative minimum taxable income
Sec. 57. Items of tax preference
Sec. 58. Denial of certain losses
Sec. 59. Other definitions and special rules
PART VII - ENVIRONMENTAL TAX
Sec. 59A. Environmental tax
(PART VIII - REPEALED)
(Sec. 59B. Repealed. Pub. L. 101-234, title I, Sec. 102(a), Dec. 13, 1989, 103 Stat. 1980)
Subchapter B - Computation of Taxable Income
PART I - DEFINITION OF GROSS INCOME, ADJUSTED GROSS INCOME, TAXABLE INCOME, ETC
Sec. 61. Gross income defined
Sec. 62. Adjusted gross income defined
Sec. 63. Taxable income defined
Sec. 64. Ordinary income defined
Sec. 65. Ordinary loss defined
Sec. 66. Treatment of community income
Sec. 67. 2-percent floor on miscellaneous itemized deductions
Sec. 68. Overall limitation on itemized deductions
PART II - ITEMS SPECIFICALLY INCLUDED IN GROSS INCOME
Sec. 71. Alimony and separate maintenance payments
Sec. 72. Annuities; certain proceeds of endowment and life insurance contracts
Sec. 73. Services of child
Sec. 74. Prizes and awards
Sec. 75. Dealers in tax-exempt securities
(Sec. 76. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(14), Oct. 4, 1976, 90 Stat. 1765)
Sec. 77. Commodity credit loans
Sec. 78. Dividends received from certain foreign corporations by domestic corporations choosing foreign tax credit
Sec. 79. Group-term life insurance purchased for employees
Sec. 80. Restoration of value of certain securities
(Sec. 81. Repealed. Pub. L. 100-203, title X, Sec. 10201(b)(1), Dec. 22, 1987, 101 Stat. 1330-387)
Sec. 82. Reimbursement for expenses of moving
Sec. 83. Property transferred in connection with performance of services
Sec. 84. Transfer of appreciated property to political organization
Sec. 85. Unemployment compensation
Sec. 86. Social security and tier 1 railroad retirement benefits
Sec. 87. Alcohol and biodiesel fuels credits
Sec. 88. Certain amounts with respect to nuclear decommissioning costs
(Sec. 89. Repealed. Pub. L. 101-140, title II, Sec. 202(a), Nov. 8, 1989, 103 Stat. 830)
Sec. 90. Illegal Federal irrigation subsidies
Sec. 91. Punitive Damages Compensated by Insurance or Otherwise
PART III - ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME
Sec. 101. Certain death benefits
Sec. 102. Gifts and inheritances
Sec. 103. Interest on State and local bonds
(Sec. 103A. Repealed. Pub. L. 99-514, title XIII, Sec. 1301(j)(1), Oct. 22, 1986, 100 Stat. 2657)
Sec. 104. Compensation for injuries or sickness
Sec. 105. Amounts received under accident and health plans
Sec. 106. Contributions by employer to accident and health plans
Sec. 107. Rental value of parsonages
Sec. 108. Income from discharge of indebtedness
Sec. 109. Improvements by lessee on lessor's property
Sec. 110. Qualified lessee construction allowances for short-term leases
Sec. 111. Recovery of tax benefit items
Sec. 112. Certain combat zone compensation of members of the Armed Forces
(Sec. 113. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(7), Nov. 5, 1990, 104 Stat. 1388-520)
Sec. 114. Extraterritorial income - Repealed by PL 108-357
Sec. 115. Income of States, municipalities, etc
(Sec. 116. Repealed. Pub. L. 99-514, title VI, Sec. 612(a), Oct. 22, 1986, 100 Stat. 2250)
Sec. 117. Qualified scholarships
Sec. 118. Contributions to the capital of a corporation
Sec. 119. Meals or lodging furnished for the convenience of the employer
Sec. 120. Amounts received under qualified group legal services plans
Sec. 121. Exclusion of gain from sale of principal residence
Sec. 122. Certain reduced uniformed services retirement pay
Sec. 123. Amounts received under insurance contracts for certain living expenses
(Sec. 124. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(9), Nov. 5, 1990, 104 Stat. 1388-520)
Sec. 125. Cafeteria plans
Sec. 126. Certain cost-sharing payments
Sec. 127. Educational assistance programs
(Sec. 128. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(10), Nov. 5, 1990, 104 Stat. 1388-520)
Sec. 129. Dependent care assistance programs
Sec. 130. Certain personal injury liability assignments
Sec. 131. Certain foster care payments
Sec. 132. Certain fringe benefits
(Sec. 133. Repealed. Pub. L. 104-188, title I, Sec. 1602(a), Aug. 20, 1996, 110 Stat. 1833)
Sec. 134. Certain military benefits
Sec. 135. Income from United States savings bonds used to pay higher education tuition and fees
Sec. 136. Energy conservation subsidies provided by public utilities
Sec. 137. Adoption assistance programs
Sec. 138. Medicare Advantage MSA
Sec. 139. Disaster relief payments
Sec. 139A. Federal subsidies for prescription drug plans.
Sec. 139B. Benefits provided to volunteer firefighters and emergency medical responders
Sec. 140. Cross references to other Acts
PART IV - TAX EXEMPTION REQUIREMENTS FOR STATE AND LOCAL BONDS
Subpart A - Private Activity Bonds
Sec. 141. Private activity bond; qualified bond
Sec. 142. Exempt facility bond
Sec. 143. Mortgage revenue bonds- qualified mortgage bond and qualified veterans' mortgage bond
Sec. 144. Qualified small issue bond; qualified student loan bond; qualified redevelopment bond
Sec. 145. Qualified 501(c)(3) bond
Sec. 146. Volume cap
Sec. 147. Other requirements applicable to certain private activity bonds
Subpart B - Requirements Applicable to All State and Local Bonds
Sec. 148. Arbitrage
Sec. 149. Bonds must be registered to be tax exempt; other requirements
Subpart C - Definitions and Special Rules
Sec. 150. Definitions and special rules
PART V - DEDUCTIONS FOR PERSONAL EXEMPTIONS
Sec. 151. Allowance of deductions for personal exemptions
Sec. 152. Dependent defined
Sec. 153. Cross references
PART VI - ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS
Sec. 161. Allowance of deductions
Sec. 162. Trade or business expenses
Sec. 163. Interest
Sec. 164. Taxes
Sec. 165. Losses
Sec. 166. Bad debts
Sec. 167. Depreciation
Sec. 168. Accelerated cost recovery system
Sec. 169. Amortization of pollution control facilities
Sec. 170. Charitable, etc., contributions and gifts
Sec. 171. Amortizable bond premium
Sec. 172. Net operating loss deduction
Sec. 173. Circulation expenditures
Sec. 174. Research and experimental expenditures
Sec. 175. Soil and water conservation expenditures
Sec. 176. Payments with respect to employees of certain foreign corporations
(Sec. 177. Repealed. Pub. L. 99-514, title II, Sec. 241(a), Oct. 22, 1986, 100 Stat. 2181)
Sec. 178. Amortization of cost of acquiring a lease
Sec. 179. Election to expense certain depreciable business assets
Sec. 179A. Deduction for clean-fuel vehicles and certain refueling property
Sec. 179B. Deduction for capital costs incurred in complying with Environmental Protection Agency sulfur regulations.
Sec. 179C. Election to Expense Certain Refineries.
Sec. 179D. Energy Efficient Commercial Buildings Deduction.
Sec. 179E. Election to expense advanced mine safety equipment
Sec. 180. Expenditures by farmers for fertilizer, etc
Sec. 181. Treatment of Certain Qualified Film and Television Productions
(Sec. 181. Repealed. Pub. L. 88-272, title II, Sec. 203(a)(3) (B), Feb. 26, 1964, 78 Stat. 34)
(Sec. 182. Repealed. Pub. L. 99-514, title IV, Sec. 402(a), Oct. 22, 1986, 100 Stat. 2221)
Sec. 183. Activities not engaged in for profit
(Sec. 184. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(12), Nov. 5, 1990, 104 Stat. 1388-520)
(Sec. 185. Repealed. Pub. L. 99-514, title II, Sec. 242(a), Oct. 22, 1986, 100 Stat. 2181)
Sec. 186. Recoveries of damages for antitrust violations, etc
(Sec. 187. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(31), Oct. 4, 1976, 90 Stat. 1769)
(Sec. 188. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(13), Nov. 5, 1990, 104 Stat. 1388-520)
(Sec. 189. Repealed. Pub. L. 99-514, title VIII, Sec. 803(b)(1), Oct. 22, 1986, 100 Stat. 2355)
Sec. 190. Expenditures to remove architectural and transportation barriers to the handicapped and elderly
(Sec. 191. Repealed. Pub. L. 97-34, title II, Sec. 212(d)(1), Aug. 13, 1981, 95 Stat. 239)
Sec. 192. Contributions to black lung benefit trust
Sec. 193. Tertiary injectants
Sec. 194. Treatment of reforestation expenditures
Sec. 194A. Contributions to employer liability trusts
Sec. 195. Start-up expenditures
Sec. 196. Deduction for certain unused business credits
Sec. 197. Amortization of goodwill and certain other intangibles
Sec. 198. Expensing of environmental remediation costs
Sec. 199. Deduction relating to income attributable to domestic production activities
PART VII - ADDITIONAL ITEMIZED DEDUCTIONS FOR INDIVIDUALS
Sec. 211. Allowance of deductions
Sec. 212. Expenses for production of income
Sec. 213. Medical, dental, etc., expenses
(Sec. 214. Repealed. Pub. L. 94-455, title V, Sec. 504(b)(1), Oct. 4, 1976, 90 Stat. 1565)
Sec. 215. Alimony, etc., payments
Sec. 216. Deduction of taxes, interest, and business depreciation by cooperative housing corporation tenant-stockholder
Sec. 217. Moving expenses
(Sec. 218. Repealed. Pub. L. 95-600, title I, Sec. 113(a)(1), Nov. 6, 1978, 92 Stat. 2778)
Sec. 219. Retirement savings
Sec. 220. Archer MSAs
Sec. 221. Interest on education loans
Sec. 222. Qualified tuition and related expenses
Sec. 223. Health Savings Accounts
Sec. 224. Cross reference
PART VIII - SPECIAL DEDUCTIONS FOR CORPORATIONS
Sec. 241. Allowance of special deductions
(Sec. 242. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(33), Oct. 4, 1976, 90 Stat. 1769)
Sec. 243. Dividends received by corporations
Sec. 244. Dividends received on certain preferred stock
Sec. 245. Dividends received from certain foreign corporations
Sec. 246. Rules applying to deductions for dividends received
Sec. 246A. Dividends received deduction reduced where portfolio stock is debt financed
Sec. 247. Dividends paid on certain preferred stock of public utilities
Sec. 248. Organizational expenditures
Sec. 249. Limitation on deduction of bond premium on repurchase
(Sec. 250. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(15), Nov. 5, 1990, 104 Stat. 1388-520)
PART IX - ITEMS NOT DEDUCTIBLE
Sec. 261. General rule for disallowance of deductions
Sec. 262. Personal, living, and family expenses
Sec. 263. Capital expenditures
Sec. 263A. Capitalization and inclusion in inventory costs of certain expenses
Sec. 264. Certain amounts paid in connection with insurance contracts
Sec. 265. Expenses and interest relating to tax-exempt income
Sec. 266. Carrying charges
Sec. 267. Losses, expenses, and interest with respect to transactions between related taxpayers
Sec. 268. Sale of land with unharvested crop
Sec. 269. Acquisitions made to evade or avoid income tax
Sec. 269A. Personal service corporations formed or availed of to avoid or evade income tax
Sec. 269B. Stapled entities
(Sec. 270. Repealed. Pub. L. 91-172, title II, Sec. 213(b), Dec. 30, 1969, 83 Stat. 572)
Sec. 271. Debts owed by political parties, etc
Sec. 272. Disposal of coal or domestic iron ore
Sec. 273. Holders of life or terminable interest
Sec. 274. Disallowance of certain entertainment, etc., expenses
Sec. 275. Certain taxes
Sec. 276. Certain indirect contributions to political parties
Sec. 277. Deductions incurred by certain membership organizations in transactions with members
(Sec. 278. Repealed. Pub. L. 99-514, title VIII, Sec. 803(b)(6), Oct. 22, 1986, 100 Stat. 2356)
Sec. 279. Interest on indebtedness incurred by corporation to acquire stock or assets of another corporation
(Sec. 280. Repealed. Pub. L. 99-514, title VIII, Sec. 803(b)(2)(A), Oct. 22, 1986, 100 Stat. 2355)
Sec. 280A. Disallowance of certain expenses in connection with business use of home, rental of vacation homes, etc
Sec. 280B. Demolition of structures
Sec. 280C. Certain expenses for which credits are allowable
(Sec. 280D. Repealed. Pub. L. 100-418, title I, Sec. 1941(b)(4)(A), Aug. 23, 1988, 102 Stat. 1324)
Sec. 280E. Expenditures in connection with the illegal sale of drugs
Sec. 280F. Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes
Sec. 280G. Golden parachute payments
Sec. 280H. Limitation on certain amounts paid to employee-owners by personal service corporations electing alternative taxable years
PART X - TERMINAL RAILROAD CORPORATIONS AND THEIR SHAREHOLDERS
Sec. 281. Terminal railroad corporations and their shareholders
PART XI - SPECIAL RULES RELATING TO CORPORATE PREFERENCE ITEMS
Sec. 291. Special rules relating to corporate preference items
Subchapter C - Corporate Distributions and Adjustments
PART I - DISTRIBUTIONS BY CORPORATIONS
Subpart A - Effects on Recipients
Sec. 301. Distributions of property
Sec. 302. Distributions in redemption of stock
Sec. 303. Distributions in redemption of stock to pay death taxes
Sec. 304. Redemption through use of related corporations
Sec. 305. Distributions of stock and stock rights
Sec. 306. Dispositions of certain stock
Sec. 307. Basis of stock and stock rights acquired in distributions
Subpart B - Effects on Corporation
Sec. 311. Taxability of corporation on distribution
Sec. 312. Effect on earnings and profits
Subpart C - Definitions; Constructive Ownership of Stock
Sec. 316. Dividend defined
Sec. 317. Other definitions
Sec. 318. Constructive ownership of stock
PART II - CORPORATE LIQUIDATIONS
Subpart A - Effects on Recipients
Sec. 331. Gain or loss to shareholders in corporate liquidations
Sec. 332. Complete liquidations of subsidiaries
(Sec. 333. Repealed. Pub. L. 99-514, title VI, Sec. 631(e)(3), Oct. 22, 1986, 100 Stat. 2273)
Sec. 334. Basis of property received in liquidations
Subpart B - Effects on Corporation
Sec. 336. Gain or loss recognized on property distributed in complete liquidation
Sec. 337. Nonrecognition for property distributed to parent in complete liquidation of subsidiary
Sec. 338. Certain stock purchases treated as asset acquisitions
Subpart C - Collapsible Corporations
Sec. 341. Collapsible corporations - REPEALED
(Sec. 342. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(47), Oct. 4, 1976, 90 Stat. 1772)
Subpart D - Definition and Special Rule
Sec. 346. Definition and special rule
PART III - CORPORATE ORGANIZATIONS AND REORGANIZATIONS
Subpart A - Corporate Organizations
Sec. 351. Transfer to corporation controlled by transferor
Subpart B - Effects on Shareholders and Security Holders
Sec. 354. Exchanges of stock and securities in certain reorganizations
Sec. 355. Distribution of stock and securities of a controlled corporation
Sec. 356. Receipt of additional consideration
Sec. 357. Assumption of liability
Sec. 358. Basis to distributees
Subpart C - Effects on Corporation
Sec. 361. Nonrecognition of gain or loss to corporations; treatment of distributions
Sec. 362. Basis to corporations
(Sec. 363. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(49), Oct. 4, 1976, 90 Stat. 1773)
Subpart D - Special Rule; Definitions
Sec. 367. Foreign corporations
Sec. 368. Definitions relating to corporate reorganizations
(PART IV - REPEALED)
(Sec. 370 to 372. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(19), Nov. 5, 1990, 104 Stat. 1388-521)
(Sec. 373. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(52), Oct. 4, 1976, 90 Stat. 1773)
(Sec. 374. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(19), Nov. 5, 1990, 104 Stat. 1388-521)
PART V - CARRYOVERS
Sec. 381. Carryovers in certain corporate acquisitions
Sec. 382. Limitation on net operating loss carryforwards and certain built-in losses following ownership change
Sec. 383. Special limitations on certain excess credits, etc
Sec. 384. Limitation on use of preacquisition losses to offset built-in gains
PART VI - TREATMENT OF CERTAIN CORPORATE INTERESTS AS STOCK OR INDEBTEDNESS
Sec. 385. Treatment of certain interests in corporations as stock or indebtedness
(PART VII - REPEALED)
(Sec. 386. Repealed. Pub. L. 100-647, title I, Sec. 1006(e)(8)(A), Nov. 10, 1988, 102 Stat. 3401)
(Sec. 391 to 395. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(55), Oct. 4, 1976, 90 Stat. 1773)
Subchapter D - Deferred Compensation, Etc
PART I - PENSION, PROFIT-SHARING, STOCK BONUS PLANS, ETC
Subpart A - General Rule
Sec. 401. Qualified pension, profit-sharing, and stock bonus plans
Sec. 402. Taxability of beneficiary of employees' trust
Sec. 402A. Optional treatment of elective deferrals as Roth contributions
Sec. 403. Taxation of employee annuities
Sec. 404. Deduction for contributions of an employer to an employees' trust or annuity plan and compensation under a deferred-payment plan
Sec. 404A. Deduction for certain foreign deferred compensation plans
(Sec. 405. Repealed. Pub. L. 98-369, div. A, title IV, Sec. 491(a), July 18, 1984, 98 Stat. 848)
Sec. 406. Employees of foreign affiliates covered by section 3121(l) agreements
Sec. 407. Certain employees of domestic subsidiaries engaged in business outside the United States
Sec. 408. Individual retirement accounts
Sec. 408A. Roth IRAs
Sec. 409. Qualifications for tax credit employee stock ownership plans
Sec. 409A. Inclusion in gross income of deferred compensation under nonqualified deferred compensation plans
Subpart B - Special Rules
Sec. 410. Minimum participation standards
Sec. 411. Minimum vesting standards
Sec. 412. Minimum funding standards
Sec. 413. Collectively bargained plans, etc
Sec. 414. Definitions and special rules
Sec. 415. Limitations on benefits and contribution under qualified plans
Sec. 416. Special rules for top-heavy plans
Sec. 417. Definitions and special rules for purposes of minimum survivor annuity requirements
Subpart C - Special Rules for Multiemployer Plans
Sec. 418. Reorganization status
Sec. 418A. Notice of reorganization and funding requirements
Sec. 418B. Minimum contribution requirement
Sec. 418C. Overburden credit against minimum contribution requirement
Sec. 418D. Adjustments in accrued benefits
Sec. 418E. Insolvent plans
Subpart D - Treatment of Welfare Benefit Funds
Sec. 419. Treatment of funded welfare benefit plans
Sec. 419A. Qualified asset account; limitation on additions to account
Subpart E - Treatment of Transfers to Retiree Health Accounts
Sec. 420. Transfers of excess pension assets to retiree health accounts
PART II - CERTAIN STOCK OPTIONS
Sec. 421. General rules
Sec. 422. Incentive stock options
(Sec. 422A. Renumbered Sec. 422)
Sec. 423. Employee stock purchase plans
Sec. 424. Definitions and special rules
(Sec. 425. Renumbered Sec. 424)
PART III - RULES RELATING TO MINIMUM FUNDING STANDARDS AND BENEFIT LIMITATIONS
Subpart A - Minimum Funding Standards for Pension Plans
Sec. 430. Minimum Funding Standards for Single-Employer Defined Benefit Pension Plans
Sec. 431. Minimum Funding Standards for Multiemployer Plans
Sec. 432. Additional Funding Rules for Multiemployer Plans in Endangered Status or Critical Status
Subpart B - Benefit Limitations Under Single-Employer Plans
Sec. 436. Funding-Based Limits on Benefits and Benefit Accruals Under Single-Employer Plans
Subchapter E - Accounting Periods and Methods of Accounting
PART I - ACCOUNTING PERIODS
Sec. 441. Period for computation of taxable income
Sec. 442. Change of annual accounting period
Sec. 443. Returns for a period of less than 12 months
Sec. 444. Election of taxable year other than required taxable year
PART II - METHODS OF ACCOUNTING
Subpart A - Methods of Accounting in General
Sec. 446. General rule for methods of accounting
Sec. 447. Method of accounting for corporations engaged in farming
Sec. 448. Limitation on use of cash method of accounting
Subpart B - Taxable Year for Which Items of Gross Income Included
Sec. 451. General rule for taxable year of inclusion
(Sec. 452. Repealed. June 15, 1955, ch. 143, Sec. 1(a), 69 Stat. 134)
Sec. 453. Installment method
Sec. 453A. Special rules for nondealers
Sec. 453B. Gain or loss disposition of installment obligations
(Sec. 453C. Repealed. Pub. L. 100-203, title X, Sec. 10202(a)(1), Dec. 22, 1987, 101 Stat. 1330-388)
Sec. 454. Obligations issued at discount
Sec. 455. Prepaid subscription income
Sec. 456. Prepaid dues income of certain membership organizations
Sec. 457. Deferred compensation plans of State and local governments and tax-exempt organizations
Sec. 458. Magazines, paperbacks, and records returned after the close of the taxable year
Sec. 460. Special rules for long-term contracts
Subpart C - Taxable Year for Which Deductions Taken
Sec. 461. General rule for taxable year of deduction
(Sec. 462. Repealed. June 15, 1955, ch. 143, Sec. 1(b), 69 Stat. 134)
(Sec. 463. Repealed. Pub. L. 100-203, title X, Sec. 10201(a), Dec. 22, 1987, 101 Stat. 1330-387)
Sec. 464. Limitations on deductions for certain farming
Sec. 465. Deductions limited to amount at risk
(Sec. 466. Repealed. Pub. L. 99-514, title VIII, Sec. 823(a), Oct. 22, 1986, 100 Stat. 2373)
Sec. 467. Certain payments for the use of property or services
Sec. 468. Special rules for mining and solid waste reclamation and closing costs
Sec. 468A. Special rules for nuclear decommissioning costs
Sec. 468B. Special rules for designated settlement funds
Sec. 469. Passive activity losses and credits limited
Sec. 470. Limitation on deductions allocable to property used by governments or other tax-exempt entities
Subpart D - Inventories
Sec. 471. General rule for inventories
Sec. 472. Last-in, first-out inventories
Sec. 473. Qualified liquidations of LIFO inventories
Sec. 474. Simplified dollar-value LIFO method for certain small businesses
Sec. 475. Mark to market accounting method for dealers in securities
PART III - ADJUSTMENTS
Sec. 481. Adjustments required by changes in method of accounting
Sec. 482. Allocation of income and deductions among taxpayers
Sec. 483. Interest on certain deferred payments
Subchapter F - Exempt Organizations
PART I - GENERAL RULE
Sec. 501. Exemption from tax on corporations, certain trusts, etc
Sec. 502. Feeder organizations
Sec. 503. Requirements for exemption
Sec. 504. Status after organization ceases to qualify for exemption under section 501(c)(3) because of substantial lobbying or because of political activities
Sec. 505. Additional requirements for organizations described in paragraph (9), (17), or (20) of section 501(c)
PART II - PRIVATE FOUNDATIONS
Sec. 507. Termination of private foundation status
Sec. 508. Special rules with respect to section 501(c)(3) organizations
Sec. 509. Private foundation defined
PART III - TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS
Sec. 511. Imposition of tax on unrelated business income of charitable, etc., organizations
Sec. 512. Unrelated business taxable income
Sec. 513. Unrelated trade or business
Sec. 514. Unrelated debt-financed income
Sec. 515. Taxes of foreign countries and possessions of the United States
PART IV - FARMERS' COOPERATIVES
Sec. 521. Exemption of farmers' cooperatives from tax
(Sec. 522. Repealed. Pub. L. 87-834, Sec. 17(b)(2), Oct. 16, 1962, 76 Stat. 1051)
PART V - SHIPOWNERS' PROTECTION AND INDEMNITY ASSOCIATIONS
Sec. 526. Shipowners' protection and indemnity associations
PART VI - POLITICAL ORGANIZATIONS
Sec. 527. Political organizations
PART VII - CERTAIN HOMEOWNERS ASSOCIATIONS
Sec. 528. Certain homeowners associations
PART VIII - HIGHER EDUCATION SAVINGS ENTITIES
Sec. 529. Qualified tuition programs
Sec. 530. Coverdell education savings accounts
Subchapter G - Corporations Used to Avoid Income Tax on Shareholders
PART I - CORPORATIONS IMPROPERLY ACCUMULATING SURPLUS
Sec. 531. Imposition of accumulated earnings tax
Sec. 532. Corporations subject to accumulated earnings tax
Sec. 533. Evidence of purpose to avoid income tax
Sec. 534. Burden of proof
Sec. 535. Accumulated taxable income
Sec. 536. Income not placed on annual basis
Sec. 537. Reasonable needs of the business
PART II - PERSONAL HOLDING COMPANIES
Sec. 541. Imposition of personal holding company tax
Sec. 542. Definition of personal holding company
Sec. 543. Personal holding company income
Sec. 544. Rules for determining stock ownership
Sec. 545. Undistributed personal holding company income
Sec. 546. Income not placed on annual basis
Sec. 547. Deduction for deficiency dividends
PART III - FOREIGN PERSONAL HOLDING COMPANIES - <<REPEALED>> Effective for tax years after December 31, 2004
Sec. 551. Foreign personal holding company income taxed to United States shareholders - REPEALED effective for tax years after December 31, 2004
Sec. 552. Definition of foreign personal holding company- REPEALED effective tax years after 12/31/2004
Sec. 553. Foreign personal holding company income- REPEALED effective tax years after 12/31/2004
Sec. 554. Stock ownership- REPEALED effective tax years after 12/31/2004
Sec. 555. Gross income of foreign personal holding companies- REPEALED effective tax years after 12/31/2004
Sec. 556. Undistributed foreign personal holding company income- REPEALED effective tax years after 12/31/2004
Sec. 557. Income not placed on annual basis- REPEALED effective tax years after 12/31/2004
Sec. 558. Returns of officers, directors, and shareholders of foreign personal holding companies- REPEALED effective tax years after 12/31/2004
PART IV - DEDUCTION FOR DIVIDENDS PAID
Sec. 561. Definition of deduction for dividends paid
Sec. 562. Rules applicable in determining dividends eligible for dividends paid deduction
Sec. 563. Rules relating to dividends paid after close of taxable year
Sec. 564. Dividend carryover
Sec. 565. Consent dividends
Subchapter H - Banking Institutions
PART I - RULES OF GENERAL APPLICA- TION TO BANKING INSTITUTIONS
Sec. 581. Definition of bank
Sec. 582. Bad debts, losses, and gains with respect to securities held by financial institutions
(Sec. 583. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(82), Oct. 4, 1976, 90 Stat. 1778)
Sec. 584. Common trust funds
Sec. 585. Reserves for losses on loans of banks
(Sec. 586. Repealed. Pub. L. 99-514, title IX, Sec. 901(c), Oct. 22, 1986, 100 Stat. 2378)
PART II - MUTUAL SAVINGS BANKS, ETC
Sec. 591. Deduction for dividends paid on deposits
(Sec. 592. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(83), Oct. 4, 1976, 90 Stat. 1778)
Sec. 593. Reserves for losses on loans
Sec. 594. Alternative tax for mutual savings banks conducting life insurance business
(Sec. 595, 596. Repealed. Pub. L. 104-188, title I, Sec. 1616(b)(8), (9), Aug. 20, 1996, 110 Stat. 1857)
Sec. 597. Treatment of transactions in which Federal financial assistance provided
(Sec. 601. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(85), Oct. 4, 1976, 90 Stat. 1778)
Subchapter I - Natural Resources
PART I - DEDUCTIONS
Sec. 611. Allowance of deduction for depletion
Sec. 612. Basis for cost depletion
Sec. 613. Percentage depletion
Sec. 613A. Limitations on percentage depletion in case of oil and gas wells
Sec. 614. Definition of property
(Sec. 615. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(88), Oct. 4, 1976, 90 Stat. 1779)
Sec. 616. Development expenditures
Sec. 617. Deduction and recapture of certain mining exploration expenditures
(PART II - REPEALED)
(Sec. 621. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(28), Nov. 5, 1990, 104 Stat. 1388-521)
PART III - SALES AND EXCHANGES
Sec. 631. Gain or loss in the case of timber, coal, or domestic iron ore
(Sec. 632. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(90), Oct. 4, 1976, 90 Stat. 1779)
PART IV - MINERAL PRODUCTION PAYMENTS
Sec. 636. Income tax treatment of mineral production payments
PART V - CONTINENTAL SHELF AREAS
Sec. 638. Continental shelf areas
Subchapter J - Estates, Trusts, Beneficiaries, and Decedents
PART I - ESTATES, TRUSTS, AND BENEFICIARIES
Subpart A - General Rules for Taxation of Estates and Trusts
Sec. 641. Imposition of tax
Sec. 642. Special rules for credits and deductions
Sec. 643. Definitions applicable to subparts A, B, C, and D
Sec. 644. Taxable year of trusts
Sec. 645. Certain revocable trusts treated as part of estate
Sec. 646. Tax treatment of electing Alaska Native Settlement Trusts
Subpart B - Trusts Which Distribute Current Income Only
Sec. 651. Deduction for trusts distributing current income only
Sec. 652. Inclusion of amounts in gross income of beneficiaries of trusts distributing current income only
Subpart C - Estates and Trusts Which May Accumulate Income or Which Distribute Corpus
Sec. 661. Deduction for estates and trusts accumulating income or distributing corpus
Sec. 662. Inclusion of amounts in gross income of beneficiaries of estates and trusts accumulating income or distributing corpus
Sec. 663. Special rules applicable to sections 661 and 662
Sec. 664. Charitable remainder trusts
Subpart D - Treatment of Excess Distributions by Trusts
Sec. 665. Definitions applicable to subpart D
Sec. 666. Accumulation distribution allocated to preceding years
Sec. 667. Treatment of amounts deemed distributed by trust in preceding years
Sec. 668. Interest charge on accumulation distributions from foreign trusts
(Sec. 669. Repealed. Pub. L. 94-455, title VII, Sec. 701(d)(1), Oct. 4, 1976, 90 Stat. 1578)
Subpart E - Grantors and Others Treated as Substantial Owners
Sec. 671. Trust income, deductions, and credits attributable to grantors and others as substantial owners
Sec. 672. Definitions and rules
Sec. 673. Reversionary interests
Sec. 674. Power to control beneficial enjoyment
Sec. 675. Administrative powers
Sec. 676. Power to revoke
Sec. 677. Income for benefit of grantor
Sec. 678. Person other than grantor treated as substantial owner
Sec. 679. Foreign trusts having one or more United States beneficiaries
Subpart F - Miscellaneous
Sec. 681. Limitation on charitable deduction
Sec. 682. Income of an estate or trust in case of divorce, etc
Sec. 683. Use of trust as an exchange fund
Sec. 684. Recognition of gain on certain transfers to certain foreign trusts and estates
Sec. 685. Treatment of funeral trusts
PART II - INCOME IN RESPECT OF DECEDENTS
Sec. 691. Recipients of income in respect of decedents
Sec. 692. Income taxes of members of Armed Forces, astronauts, and victims of certain terrorist attacks on death
Subchapter K - Partners and Partnerships
PART I - DETERMINATION OF TAX LIABILITY
Sec. 701. Partners, not partnership, subject to tax
Sec. 702. Income and credits of partner
Sec. 703. Partnership computations
Sec. 704. Partner's distributive share
Sec. 705. Determination of basis of partner's interest
Sec. 706. Taxable years of partner and partnership
Sec. 707. Transactions between partner and partnership
Sec. 708. Continuation of partnership
Sec. 709. Treatment of organization and syndication fees
PART II - CONTRIBUTIONS, DISTRIBUTIONS, AND TRANSFERS
Subpart A - Contributions to a Partnership
Sec. 721. Nonrecognition of gain or loss on contribution
Sec. 722. Basis of contributing partner's interest
Sec. 723. Basis of property contributed to partnership
Sec. 724. Character of gain or loss on contributed unrealized receivables, inventory items, and capital loss property
Subpart B - Distributions by a Partnership
Sec. 731. Extent of recognition of gain or loss on distribution
Sec. 732. Basis of distributed property other than money
Sec. 733. Basis of distributee partner's interest
Sec. 734. Adjustment to basis of undistributed partnership property where section 754 election or substantial basis reduction
Sec. 735. Character of gain or loss on disposition of distributed property
Sec. 736. Payments to a retiring partner or a deceased partner's successor in interest
Sec. 737. Recognition of precontribution gain in case of certain distributions to contributing partner
Subpart C - Transfers of Interests in a Partnership
Sec. 741. Recognition and character of gain or loss on sale or exchange
Sec. 742. Basis of transferee partner's interest
Sec. 743. Special rules where section 754 election or substantial built-in loss
Subpart D - Provisions Common to Other Subparts
Sec. 751. Unrealized receivables and inventory items
Sec. 752. Treatment of certain liabilities
Sec. 753. Partner receiving income in respect of decedent
Sec. 754. Manner of electing optional adjustment to basis of partnership property
Sec. 755. Rules for allocation of basis
PART III - DEFINITIONS
Sec. 761. Terms defined
PART IV - SPECIAL RULES FOR ELECTING LARGE PARTNERSHIPS
Sec. 771. Application of subchapter to electing large partnerships
Sec. 772. Simplified flow-through
Sec. 773. Computations at partnership level
Sec. 774. Other modifications
Sec. 775. Electing large partnership defined
Sec. 776. Special rules for partnerships holding oil and gas properties
Sec. 777. Regulations
Subchapter L - Insurance Companies
PART I - LIFE INSURANCE COMPANIES
Subpart A - Tax Imposed
Sec. 801. Tax imposed
Subpart B - Life Insurance Gross Income
Sec. 803. Life insurance gross income
Subpart C - Life Insurance Deductions
Sec. 804. Life insurance deductions
Sec. 805. General deductions
Sec. 806. Small life insurance company deduction
Sec. 807. Rules for certain reserves
Sec. 808. Policyholder dividends deduction
Sec. 809. Reduction in certain deductions of mutual life insurance companies - REPEALED
Sec. 810. Operations loss deduction
Subpart D - Accounting, Allocation, and Foreign Provisions
Sec. 811. Accounting provisions
Sec. 812. Definition of company's share and policyholders' share
(Sec. 813. Repealed. Pub. L. 100-203, title X, Sec. 10242(c)(1), Dec. 22, 1987, 101 Stat. 1330-423)
Sec. 814. Contiguous country branches of domestic life insurance companies
Sec. 815. Distributions to shareholders from pre-1984 policyholders surplus account
Subpart E - Definitions and Special Rules
Sec. 816. Life insurance company defined
Sec. 817. Treatment of variable contracts
Sec. 817A. Special rules for modified guaranteed contracts
Sec. 818. Other definitions and special rules
PART II - OTHER INSURANCE COMPANIES
Sec. 831. Tax on insurance companies other than life insurance companies
Sec. 832. Insurance company taxable income
Sec. 833. Treatment of Blue Cross and Blue Shield organizations, etc
Sec. 834. Determination of taxable investment income
Sec. 835. Election by reciprocal
PART III - PROVISIONS OF GENERAL APPLICATION
Sec. 841. Credit for foreign taxes
Sec. 842. Foreign companies carrying on insurance business
Sec. 843. Annual accounting period
Sec. 844. Special loss carryover rules
Sec. 845. Certain reinsurance agreements
Sec. 846. Discounted unpaid losses defined
Sec. 847. Special estimated tax payments
Sec. 848. Capitalization of certain policy acquisition expenses
Subchapter M - Regulated Investment Companies and Real Estate Investment Trusts
PART I - REGULATED INVESTMENT COMPANIES
Sec. 851. Definition of regulated investment company
Sec. 852. Taxation of regulated investment companies and their shareholders
Sec. 853. Foreign tax credit allowed to shareholders
Sec. 854. Limitations applicable to dividends received from regulated investment company
Sec. 855. Dividends paid by regulated investment company after close of taxable year
PART II - REAL ESTATE INVESTMENT TRUSTS
Sec. 856. Definition of real estate investment trust
Sec. 857. Taxation of real estate investment trusts and their beneficiaries
Sec. 858. Dividends paid by real estate investment trust after close of taxable year
Sec. 859. Adoption of annual accounting period
PART III - PROVISIONS WHICH APPLY TO BOTH REGULATED INVESTMENT COMPANIES AND REAL ESTATE INVESTMENT TRUSTS
Sec. 860. Deduction for deficiency dividends
PART IV - REAL ESTATE MORTGAGE INVESTMENT CONDUITS
Sec. 860A. Taxation of REMIC's
Sec. 860B. Taxation of holders of regular interests
Sec. 860C. Taxation of residual interests
Sec. 860D. REMIC defined
Sec. 860E. Treatment of income in excess of daily accruals on residual interests
Sec. 860F. Other rules
Sec. 860G. Other definitions and special rules
PART V - FINANCIAL ASSET SECURITIZATION INVESTMENT TRUSTS - REPEALED
Sec. 860H. Taxation of a FASIT; other general rules - REPEALED
Sec. 860I. Gain recognition on contributions to a FASIT and in other cases - REPEALED
Sec. 860J. Non-FASIT losses not to offset certain FASIT inclusions - REPEALED
Sec. 860K. Treatment of transfers of high-yield interests to disqualified holders - REPEALED
Sec. 860L. Definitions and other special rules - REPEALED
Subchapter N - Tax Based on Income From Sources Within or Without the United States
PART I - SOURCE RULES AND OTHER GENERAL RULES RELATING TO FOREIGN INCOME
Sec. 861. Income from sources within the United States
Sec. 862. Income from sources without the United States
Sec. 863. Special rules for determining source
Sec. 864. Definitions and special rules
Sec. 865. Source rules for personal property sales
PART II - NONRESIDENT ALIENS AND FOREIGN CORPORATIONS
Subpart A - Nonresident Alien Individuals
Sec. 871. Tax on nonresident alien individuals
Sec. 872. Gross income
Sec. 873. Deductions
Sec. 874. Allowance of deductions and credits
Sec. 875. Partnerships; beneficiaries of estates and trusts
Sec. 876. Alien residents of Puerto Rico, Guam, American Samoa, or the Northern Mariana Islands
Sec. 877. Expatriation to avoid tax
Sec. 877A. Tax Responsibilities of Expatriation
Sec. 878. Foreign educational, charitable, and certain other exempt organizations
Sec. 879. Tax treatment of certain community income in the case of nonresident alien individuals
Subpart B - Foreign Corporations
Sec. 881. Tax on income of foreign corporations not connected with United States business
Sec. 882. Tax on income of foreign corporations connected with United States business
Sec. 883. Exclusions from gross income
Sec. 884. Branch profits tax
Sec. 885. Cross references
Subpart C - Tax on Gross Transportation Income
Sec. 887. Imposition of tax on gross transportation income of nonresident aliens and foreign corporations
Subpart D - Miscellaneous Provisions
Sec. 891. Doubling of rates of tax on citizens and corporations of certain foreign countries
Sec. 892. Income of foreign governments and of international organizations
Sec. 893. Compensation of employees of foreign governments or international organizations
Sec. 894. Income affected by treaty
Sec. 895. Income derived by a foreign central bank of issue from obligations of the United States or from bank deposits
Sec. 896. Adjustment of tax on nationals, residents, and corporations of certain foreign countries
Sec. 897. Disposition of investment in United States real property
Sec. 898. Taxable year of certain foreign corporations
PART III - INCOME FROM SOURCES WITHOUT THE UNITED STATES
Subpart A - Foreign Tax Credit
Sec. 901. Taxes of foreign countries and of possessions of United States
Sec. 902. Deemed paid credit where domestic corporation owns 10 percent or more of voting stock of foreign corporation
Sec. 903. Credit for taxes in lieu of income, etc., taxes
Sec. 904. Limitation on credit
Sec. 905. Applicable rules
Sec. 906. Nonresident alien individuals and foreign corporations
Sec. 907. Special rules in case of foreign oil and gas income
Sec. 908. Reduction of credit for participation in or co-operation with an international boycott
Subpart B - Earned Income of Citizens or Residents of United States
Sec. 911. Citizens or residents of the United States living abroad
Sec. 912. Exemption for certain allowances
(Sec. 913. Repealed. Pub. L. 97-34, title I, Sec. 112(a), Aug. 13, 1981, 95 Stat. 194)
(Subpart C - Repealed)
(Sec. 921 to 927. Repealed. Pub. L. 106-519, Sec. 2, Nov. 15, 2000, 114 Stat. 2423)
Subpart D - Possessions of the United States
Sec. 931. Income from sources within Guam, American Samoa, or the Northern Mariana Islands
Sec. 932. Coordination of United States and Virgin Islands income taxes
Sec. 933. Income from sources within Puerto Rico
Sec. 934. Limitation on reduction in income tax liability incurred to the Virgin Islands
(Sec. 934A. Repealed. Pub. L. 99-514, title XII, Sec. 1275(c)(3), Oct. 22, 1986, 100 Stat. 2599)
(Sec. 935. Repealed. Pub. L. 99-514, title XII, Sec. 1272(d)(2), Oct. 22, 1986, 100 Stat. 2594)
Sec. 936. Puerto Rico and possession tax credit
Sec. 937. Residence and source rules involving possessions
Subpart E - Qualifying Foreign Trade Income - DELETED by PL 108-357
Sec. 941. Qualifying foreign trade income - REPEALED by PL 108-357
Sec. 942. Foreign trading gross receipts - REPEALED by PL 108-357
Sec. 943. Other definitions and special rules - REPEALED by PL 108-357
Subpart F - Controlled Foreign Corporations
Sec. 951. Amounts included in gross income of United States shareholders
Sec. 952. Subpart F income defined
Sec. 953. Insurance income
Sec. 954. Foreign base company income
Sec. 955. Withdrawal of previously excluded subpart F income from qualified investment
Sec. 956. Investment of earnings in United States property
(Sec. 956A. Repealed. Pub. L. 104-188, title I, Sec. 1501(a)(2), Aug. 20, 1996, 110 Stat. 1825)
Sec. 957. Controlled foreign corporations; United States persons
Sec. 958. Rules for determining stock ownership
Sec. 959. Exclusion from gross income of previously taxed earnings and profits
Sec. 960. Special rules for foreign tax credit
Sec. 961. Adjustments to basis of stock in controlled foreign corporations and of other property
Sec. 962. Election by individuals to be subject to tax at corporate rates
(Sec. 963. Repealed. Pub. L. 94-12, title VI, Sec. 602(a)(1), Mar. 29, 1975, 89 Stat. 58)
Sec. 964. Miscellaneous provisions
Sec. 965. Temporary dividends received deduction.
Subpart G - Export Trade Corporations
Sec. 970. Reduction of subpart F income of export trade corporations
Sec. 971. Definitions
(Sec. 972. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(120), Oct. 4, 1976, 90 Stat. 1784)
(Subpart H - Repealed)
(Sec. 981. Repealed. Pub. L. 94-455, title X, Sec. 1012(b)(2), Oct. 4, 1976, 90 Stat. 1614)
Subpart I - Admissibility of Documentation Maintained in Foreign Countries
Sec. 982. Admissibility of documentation maintained in foreign countries
Subpart J - Foreign Currency Transactions
Sec. 985. Functional currency
Sec. 986. Determination of foreign taxes and foreign corporation's earnings and profits
Sec. 987. Branch transactions
Sec. 988. Treatment of certain foreign currency transactions
Sec. 989. Other definitions and special rules
PART IV - DOMESTIC INTERNATIONAL SALES CORPORATIONS
Subpart A - Treatment of Qualifying Corporations
Sec. 991. Taxation of a domestic international sales corporation
Sec. 992. Requirements of a domestic international sales corporation
Sec. 993. Definitions
Sec. 994. Inter-company pricing rules
Subpart B - Treatment of Distributions to Shareholders
Sec. 995. Taxation of DISC income to shareholders
Sec. 996. Rules for allocation in the case of distributions and losses
Sec. 997. Special subchapter C rules
PART V - INTERNATIONAL BOYCOTT DETERMINATIONS
Sec. 999. Reports by taxpayers; determinations
(Sec. 1000. Reserved)
Subchapter O - Gain or Loss on Disposition of Property
PART I - DETERMINATION OF AMOUNT OF AND RECOGNITION OF GAIN OR LOSS
Sec. 1001. Determination of amount of and recognition of gain or loss
(Sec. 1002. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(b)(28)(B)(i), Oct. 4, 1976, 90 Stat. 1799)
PART II - BASIS RULES OF GENERAL APPLICATION
Sec. 1011. Adjusted basis for determining gain or loss
Sec. 1012. Basis of property - cost
Sec. 1013. Basis of property included in inventory
Sec. 1014. Basis of property acquired from a decedent
Sec. 1015. Basis of property acquired by gifts and transfers in trust
Sec. 1016. Adjustments to basis
Sec. 1017. Discharge of indebtedness
(Sec. 1018. Repealed. Pub. L. 96-589, Sec. 6(h)(1), Dec. 24, 1980, 94 Stat. 3410)
Sec. 1019. Property on which lessee has made improvements
(Sec. 1020. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(125), Oct. 4, 1976, 90 Stat. 1784)
Sec. 1021. Sale of annuities
Sec. 1022. Treatment of property acquired from a decedent dying after December 31, 2009
Sec. 1023. Cross references
(Sec. 1024. Renumbered Sec. 1023)
PART III - COMMON NONTAXABLE EXCHANGES
Sec. 1031. Exchange of property held for productive use or investment
Sec. 1032. Exchange of stock for property
Sec. 1033. Involuntary conversions
(Sec. 1034. Repealed. Pub. L. 105-34, title III, Sec. 312(b), Aug. 5, 1997, 111 Stat. 839)
Sec. 1035. Certain exchanges of insurance policies
Sec. 1036. Stock for stock of same corporation
Sec. 1037. Certain exchanges of United States obligations
Sec. 1038. Certain reacquisitions of real property
(Sec. 1039. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(33), Nov. 5, 1990, 104 Stat. 1388-521)
Sec. 1040. Transfer of certain farm, etc., real property
Sec. 1041. Transfers of property between spouses or incident to divorce
Sec. 1042. Sales of stock to employee stock ownership plans or certain cooperatives
Sec. 1043. Sale of property to comply with conflict-of-interest requirements
Sec. 1044. Rollover of publicly traded securities gain into specialized small business investment companies
Sec. 1045. Rollover of gain from qualified small business stock to another qualified small business stock
PART IV - SPECIAL RULES
Sec. 1051. Property acquired during affiliation
Sec. 1052. Basis established by the Revenue Act of 1932 or 1934 or by the Internal Revenue Code of 1939
Sec. 1053. Property acquired before March 1, 1913
Sec. 1054. Certain stock of Federal National Mortgage Association
Sec. 1055. Redeemable ground rents
Sec. 1056. Basis limitation for player contracts transferred in connection with the sale of a franchise - REPEALED
(Sec. 1057. Repealed. Pub. L. 105-34, title XI, Sec. 1131(c)(2), Aug. 5, 1997, 111 Stat. 980)
Sec. 1058. Transfers of securities under certain agreements
Sec. 1059. Corporate shareholder's basis in stock reduced by nontaxed portion of extraordinary dividends
Sec. 1059A. Limitation on taxpayer's basis or inventory cost in property imported from related persons
Sec. 1060. Special allocation rules for certain asset acquisitions
Sec. 1061. Cross references
(PART V - REPEALED)
(Sec. 1071. Repealed. Pub. L. 104-7, Sec. 2(a), Apr. 11, 1995, 109 Stat. 93)
PART VI - EXCHANGES IN OBEDIENCE TO S.E.C. ORDERS
Sec. 1081. Nonrecognition of gain or loss on exchanges or distributions in obedience to orders of S.E.C
Sec. 1082. Basis for determining gain or loss
Sec. 1083. Definitions
PART VII - WASH SALES; STRADDLES
Sec. 1091. Loss from wash sales of stock or securities
Sec. 1092. Straddles
(PART VIII - REPEALED)
(Sec. 1101 to 1103. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(34), Nov. 5, 1990, 104 Stat. 1388-521)
(PART IX - REPEALED)
(Sec. 1111. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(134), Oct. 4, 1976, 90 Stat. 1786)
Subchapter P - Capital Gains and Losses
PART I - TREATMENT OF CAPITAL GAINS
Sec. 1201. Alternative tax for corporations
Sec. 1202. Partial exclusion for gain from certain small business stock
PART II - TREATMENT OF CAPITAL LOSSES
Sec. 1211. Limitation on capital losses
Sec. 1212. Capital loss carrybacks and carryovers
PART III - GENERAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES
Sec. 1221. Capital asset defined
Sec. 1222. Other terms relating to capital gains and losses
Sec. 1223. Holding period of property
PART IV - SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES
Sec. 1231. Property used in the trade or business and involuntary conversions
(Sec. 1232 to 1232B. Repealed. Pub. L. 98-369, div. A, title I, Sec. 42(a)(1), July 18, 1984, 98 Stat. 556)
Sec. 1233. Gains and losses from short sales
Sec. 1234. Options to buy or sell
Sec. 1234A. Gains or losses from certain terminations
Sec. 1234B. Gains or losses from securities futures contracts
Sec. 1235. Sale or exchange of patents
Sec. 1236. Dealers in securities
Sec. 1237. Real property subdivided for sale
(Sec. 1238. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(35), Nov. 5, 1990, 104 Stat. 1388-521)
Sec. 1239. Gain from sale of depreciable property between certain related taxpayers
(Sec. 1240. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(139), Oct. 4, 1976, 90 Stat. 1787)
Sec. 1241. Cancellation of lease or distributor's agreement
Sec. 1242. Losses on small business investment company stock
Sec. 1243. Loss of small business investment company
Sec. 1244. Losses on small business stock
Sec. 1245. Gain from dispositions of certain depreciable property
Sec. 1246. Gain on foreign investment company stock - REPEALED effective after 12/31/2004
Sec. 1247. Election by foreign investment companies to distribute income currently - REPEALED effective after 12/31/2004
Sec. 1248. Gain from certain sales or exchanges of stock in certain foreign corporations
Sec. 1249. Gain from certain sales or exchanges of patents, etc., to foreign corporations
Sec. 1250. Gain from dispositions of certain depreciable realty
(Sec. 1251. Repealed. Pub. L. 98-369, div. A, title IV, Sec. 492(a), July 18, 1984, 98 Stat. 853)
Sec. 1252. Gain from disposition of farm land
Sec. 1253. Transfers of franchises, trademarks, and trade names
Sec. 1254. Gain from disposition of interest in oil, gas, geothermal, or other mineral properties
Sec. 1255. Gain from disposition of section 126 property
Sec. 1256. Section 1256 contracts marked to market
Sec. 1257. Disposition of converted wetlands or highly erodible croplands
Sec. 1258. Recharacterization of gain from certain financial transactions
Sec. 1259. Constructive sales treatment for appreciated financial positions
Sec. 1260. Gains from constructive ownership transactions
PART V - SPECIAL RULES FOR BONDS AND OTHER DEBT INSTRUMENTS
Subpart A - Original Issue Discount
Sec. 1271. Treatment of amounts received on retirement or sale or exchange of debt instruments
Sec. 1272. Current inclusion in income of original issue discount
Sec. 1273. Determination of amount of original issue discount
Sec. 1274. Determination of issue price in the case of certain debt instruments issued for property
Sec. 1274A. Special rules for certain transactions where stated principal amount does not exceed $2,800,000
Sec. 1275. Other definitions and special rules
Subpart B - Market Discount on Bonds
Sec. 1276. Disposition gain representing accrued market discount treated as ordinary income
Sec. 1277. Deferral of interest deduction allocable to accrued market discount
Sec. 1278. Definitions and special rules
Subpart C - Discount on Short-Term Obligations
Sec. 1281. Current inclusion in income of discount on certain short-term obligations
Sec. 1282. Deferral of interest deduction allocable to accrued discount
Sec. 1283. Definitions and special rules
Subpart D - Miscellaneous Provisions
Sec. 1286. Tax treatment of stripped bonds
Sec. 1287. Denial of capital gain treatment for gains on certain obligations not in registered form
Sec. 1288. Treatment of original issue discount on tax-exempt obligations
PART VI - TREATMENT OF CERTAIN PASSIVE FOREIGN INVESTMENT COMPANIES
Subpart A - Interest on Tax Deferral
Sec. 1291. Interest on tax deferral
Subpart B - Treatment of Qualified Electing Funds
Sec. 1293. Current taxation of income from qualified electing funds
Sec. 1294. Election to extend time for payment of tax on undistributed earnings
Sec. 1295. Qualified electing fund
Subpart C - Election of Mark to Market for Marketable Stock
Sec. 1296. Election of mark to market for marketable stock
Subpart D - General Provisions
Sec. 1297. Passive foreign investment company
Sec. 1298. Special rules
Subchapter Q - Readjustment of Tax Between Years and Special Limitations
PART I - INCOME AVERAGING
Sec. 1301. Averaging of farm income
PART II - MITIGATION OF EFFECT OF LIMITATIONS AND OTHER PROVISIONS
Sec. 1311. Correction of error
Sec. 1312. Circumstances of adjustment
Sec. 1313. Definitions
Sec. 1314. Amount and method of adjustment
(Sec. 1315. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(143), Oct. 4, 1976, 90 Stat. 1788)
(PART III - REPEALED)
(Sec. 1321. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(144), Oct. 4, 1976, 90 Stat. 1788)
(PART IV - REPEALED)
(Sec. 1331 to 1337. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(145)(A), Oct. 4, 1976, 90 Stat. 1788)
PART V - CLAIM OF RIGHT
Sec. 1341. Computation of tax where taxpayer restores substantial amount held under claim of right
(Sec. 1342. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(147), Oct. 4, 1976, 90 Stat. 1788)
(PART VI - REPEALED)
(Sec. 1346. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(148), Oct. 4, 1976, 90 Stat. 1788)
(Sec. 1347. Repealed. Pub. L. 94-455, title XIX, Sec. 1951(b)(12)(A), Oct. 4, 1976, 90 Stat. 1840)
(Sec. 1348. Repealed. Pub. L. 97-34, title I, Sec. 101(c)(1), Aug. 13, 1981, 95 Stat. 183)
PART VII - RECOVERIES OF FOREIGN EXPROPRIATION LOSSES
Sec. 1351. Treatment of recoveries of foreign expropriation losses
Subchapter R - Election To Determine Corporate Tax on Certain International Shipping Activities Using Per Ton Rate
Sec. 1352. Alternative tax on qualifying shipping activities
Sec. 1353. Notional shipping income
Sec. 1354. Alternative tax election; revocation; termination
Sec. 1355. Definitions and special rules
Sec. 1356. Qualifying shipping activities
Sec. 1357. Items not subject to regular tax; depreciation; interest
Sec. 1358. Allocation of credits, income, and deductions
Sec. 1359. Disposition of qualifying vessels
(Subchapter R - Repealed)
(Sec. 1361. Repealed. Pub. L. 89-389, Sec. 4(b)(1), Apr. 14, 1966, 80 Stat. 116)
Subchapter S - Tax Treatment of S Corporations and Their Shareholders
PART I - IN GENERAL
Sec. 1361. S corporation defined
Sec. 1362. Election; revocation; termination
Sec. 1363. Effect of election on corporation
PART II - TAX TREATMENT OF SHAREHOLDERS
Sec. 1366. Pass-thru of items to shareholders
Sec. 1367. Adjustments to basis of stock of shareholders, etc
Sec. 1368. Distributions
PART III - SPECIAL RULES
Sec. 1371. Coordination with subchapter C
Sec. 1372. Partnership rules to apply for fringe benefit purposes
Sec. 1373. Foreign income
Sec. 1374. Tax imposed on certain built-in gains
Sec. 1375. Tax imposed when passive investment income of corporation having accumulated earnings and profits exceeds 25 percent of gross receipts
PART IV - DEFINITIONS; MISCELLANEOUS
Sec. 1377. Definitions and special rule
Sec. 1378. Taxable year of S corporation
Sec. 1379. Transitional rules on enactment
Subchapter T - Cooperatives and Their Patrons
PART I - TAX TREATMENT OF COOPERATIVES
Sec. 1381. Organizations to which part applies
Sec. 1382. Taxable income of cooperatives
Sec. 1383. Computation of tax where cooperative redeems nonqualified written notices of allocation or nonqualified per-unit retain certificates
PART II - TAX TREATMENT BY PATRONS OF PATRONAGE DIVIDENDS AND PER-UNIT RETAIN ALLOCATIONS
Sec. 1385. Amounts includible in patron's gross income
PART III - DEFINITIONS; SPECIAL RULES
Sec. 1388. Definitions; special rules
Subchapter U - Designation and Treatment of Empowerment Zones, Enterprise Communities, and Rural Development Investment Areas
PART I - DESIGNATION
Sec. 1391. Designation procedure
Sec. 1392. Eligibility criteria
Sec. 1393. Definitions and special rules
PART II - TAX-EXEMPT FACILITY BONDS FOR EMPOWERMENT ZONES AND ENTERPRISE COMMUNITIES
Sec. 1394. Tax-exempt enterprise zone facility bonds
PART III - ADDITIONAL INCENTIVES FOR EMPOWERMENT ZONES
Subpart A - Empowerment Zone Employment Credit
Sec. 1396. Empowerment zone employment credit
Sec. 1397. Other definitions and special rules
Subpart B - Additional Expensing
Sec. 1397A. Increase in expensing under section 179
Subpart C - Nonrecognition of Gain on Rollover of Empowerment Zone Investments
Sec. 1397B. Nonrecognition of gain on rollover of empowerment zone investments
Subpart D - General Provisions
Sec. 1397C. Enterprise zone business defined
Sec. 1397D. Qualified zone property defined
PART IV - INCENTIVES FOR EDUCATION ZONES
Sec. 1397E. Credit to holders of qualified zone academy bonds
PART V - REGULATIONS
Sec. 1397F. Regulations
Subchapter V - Title 11 Cases
Sec. 1398. Rules relating to individuals' title 11 cases
Sec. 1399. No separate taxable entities for partnerships, corporations, etc
Subchapter W - District of Columbia Enterprise Zone
Sec. 1400. Establishment of DC Zone
Sec. 1400A. Tax-exempt economic development bonds
Sec. 1400B. Zero percent capital gains rate
Sec. 1400C. First-time homebuyer credit for District of Columbia
Subchapter X - Renewal Communities
PART I - DESIGNATION
Sec. 1400E. Designation of renewal communities
PART II - RENEWAL COMMUNITY CAPITAL GAIN; RENEWAL COMMUNITY BUSINESS
Sec. 1400F. Renewal community capital gain
Sec. 1400G. Renewal community business defined
PART III - ADDITIONAL INCENTIVES
Sec. 1400H. Renewal community employment credit
Sec. 1400I. Commercial revitalization deduction
Sec. 1400J. Increase in expensing under section 179
Subchapter Y - Short-Term Regional Benefits
Part I - TAX BENEFITS FOR NEW YORK LIBERTY ZONE
Sec. 1400L. Tax Benefits for New York Liberty Zone
PART II - TAX BENEFITS FOR GO ZONES
Sec. 1400M. Definitions
Sec. 1400N. Tax benefits for Gulf Opportunity Zone
Sec. 1400O. Education tax benefits
Sec. 1400P. Housing tax benefits
Sec. 1400Q. Special rules for use of retirement funds
Sec. 1400R. Employment relief
Sec. 1400S. Additional tax relief provisions
Sec. 1400T. Special rules for mortgage revenue bonds
CHAPTER 2 - TAX ON SELF-EMPLOYMENT INCOME
Sec. 1401. Rate of tax
Sec. 1402. Definitions
Sec. 1403. Miscellaneous provisions
CHAPTER 3 - WITHHOLDING OF TAX ON NONRESIDENT ALIENS AND FOREIGN CORPORATIONS
Subchapter A - Nonresident Aliens and Foreign Corporations
Sec. 1441. Withholding of tax on nonresident aliens
Sec. 1442. Withholding of tax on foreign corporations
Sec. 1443. Foreign tax-exempt organizations
Sec. 1444. Withholding on Virgin Islands source income
Sec. 1445. Withholding of tax on dispositions of United States real property interests
Sec. 1446. Withholding (FOOTNOTE 1) tax on foreign partners' share of effectively connected income
Subchapter B - Application of Withholding Provisions
(Sec. 1451. Repealed. Pub. L. 98-369, div. A, title IV, Sec. 474(r)(29)(A), July 18, 1984, 98 Stat. 844)
Sec. 1461. Liability for withheld tax
Sec. 1462. Withheld tax as credit to recipient of income
Sec. 1463. Tax paid by recipient of income
Sec. 1464. Refunds and credits with respect to withheld tax
(Sec. 1465. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(a)(156), Oct. 4, 1976, 90 Stat. 1789)
(CHAPTER 4 - REPEALED)
(Sec. 1471. Repealed. Pub. L. 94-455, title XIX, Sec. 1901(b)(13)(A), Oct. 4, 1976, 90 Stat. 1840)
(Sec. 1481, 1482. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(37), Nov. 5, 1990, 104 Stat. 1388-521)
(CHAPTER 5 - REPEALED)
(Sec. 1491, 1492. Repealed. Pub. L. 105-34, title XI, Sec. 1131(a), Aug. 5, 1997, 111 Stat. 978)
(Sec. 1493. Repealed. Pub. L. 89-809, title I, Sec. 103(l)(2), Nov. 13, 1966, 80 Stat. 1554)
(Sec. 1494. Repealed. Pub. L. 105-34, title XI, Sec. 1131(a), Aug. 5, 1997, 111 Stat. 978)
CHAPTER 6 - CONSOLIDATED RETURNS
Subchapter A - Returns and Payment of Tax
Sec. 1501. Privilege to file consolidated returns
Sec. 1502. Regulations
Sec. 1503. Computation and payment of tax
Sec. 1504. Definitions
Sec. 1505. Cross references
Subchapter B - Related Rules
PART I - IN GENERAL
Sec. 1551. Disallowance of the benefits of the graduated corporate rates and accumulated earnings credit
Sec. 1552. Earnings and profits
PART II - CERTAIN CONTROLLED CORPORATIONS
Sec. 1561. Limitations on certain multiple tax benefits in the case of certain controlled corporations
(Sec. 1562. Repealed. Pub. L. 91-172, title IV, Sec. 401(a)(2), Dec. 30, 1969, 83 Stat. 600)
Sec. 1563. Definitions and special rules
(Sec. 1564. Repealed. Pub. L. 101-508, title XI, Sec. 11801(a)(38), Nov. 5, 1990, 104 Stat. 1388-521)

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