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definition</span><span class="chapeau indent0">Except as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not limited to) the following items:</span> <div class="paragraph indent1"><a name="a_1"></a><span class="num" value="1">(1)</span> <div class="content"> Compensation for services, including fees, commissions, fringe benefits, and similar items;</div> </div> <div class="paragraph indent1"><a name="a_2"></a><span class="num" value="2">(2)</span> <div class="content"> Gross income derived from business;</div> </div> <div class="paragraph indent1"><a name="a_3"></a><span class="num" value="3">(3)</span> <div class="content"> Gains derived from dealings in property;</div> </div> <div class="paragraph indent1"><a name="a_4"></a><span class="num" value="4">(4)</span> <div class="content"> Interest;</div> </div> <div class="paragraph indent1"><a name="a_5"></a><span class="num" value="5">(5)</span> <div class="content"> Rents;</div> </div> <div class="paragraph indent1"><a name="a_6"></a><span class="num" value="6">(6)</span> <div class="content"> Royalties;</div> </div> <div class="paragraph indent1"><a name="a_7"></a><span class="num" value="7">(7)</span> <div class="content"> Dividends;</div> </div> <div class="paragraph indent1"><a name="a_8"></a><span class="num" value="8">(8)</span> <div class="content"> Annuities;</div> </div> <div class="paragraph indent1"><a name="a_9"></a><span class="num" value="9">(9)</span> <div class="content"> Income from life insurance and endowment contracts;</div> </div> <div class="paragraph indent1"><a name="a_10"></a><span class="num" value="10">(10)</span> <div class="content"> Pensions;</div> </div> <div class="paragraph indent1"><a name="a_11"></a><span class="num" value="11">(11)</span> <div class="content"> Income from discharge of indebtedness;</div> </div> <div class="paragraph indent1"><a name="a_12"></a><span class="num" value="12">(12)</span> <div class="content"> Distributive share of partnership gross income;</div> </div> <div class="paragraph indent1"><a name="a_13"></a><span class="num" value="13">(13)</span> <div class="content"> Income in respect of a decedent; and</div> </div> <div class="paragraph indent1"><a name="a_14"></a><span class="num" value="14">(14)</span> <div class="content"> Income from an interest in an estate or trust.</div> </div> </div> <div class="subsection indent2 firstIndent-2"><a name="b"></a><span class="num bold" value="b">(b)</span><span class="heading bold"> Cross references</span> <div class="content"> <p>For items specifically included in gross income, see part II (sec. 71 and following). For items specifically excluded from gross income, see part III (sec. 101 and following).</p> </div> </div> <div class="sourceCredit">(Aug. 16, 1954, ch. 736, <a href="/rio/citation/68A_Stat._17">68A Stat. 17</a>; <a href="/rio/citation/Pub._L._98-369">Pub. L. 98–369, div. A, title V, § 531(c)</a>, <span class="date" date="1984-07-18">July 18, 1984</span>, <a href="/rio/citation/98_Stat._884">98 Stat. 884</a>; <a href="/rio/citation/Pub._L._115-97">Pub. L. 115–97, title I, § 11051(b)(1)(A)</a>, <span class="date" date="2017-12-22">Dec. 22, 2017</span>, <a href="/rio/citation/131_Stat._2089">131 Stat. 2089</a>.)</div> </div> </div></text> </div> <div class="tab-pane" id="tab_default_2">  <notes><div class="notes"> </div><div class="notes"> <div class="note" topic="editorialNotes"><span class="heading centered"><strong>Editorial Notes</strong></span></div> <div class="note" topic="amendments"><span class="heading centered smallCaps">Amendments</span> <p>2017—Subsec. (a)(8) to (15). <a href="/rio/citation/Pub._L._115-97">Pub. L. 115–97</a> redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.</p> <p>1984—Subsec. (a)(1). <a href="/rio/citation/Pub._L._98-369">Pub. L. 98–369</a> inserted reference to fringe benefits.</p> </div> <div class="note" topic="statutoryNotes"><span class="heading centered"><strong>Statutory Notes and Related Subsidiaries</strong></span></div> <div class="note" topic="effectiveDateOfAmendment"><span class="heading centered smallCaps">Effective Date of 2017 Amendment</span> <p><a href="/rio/citation/Pub._L._115-97">Pub. L. 115–97, title I, § 11051(c)</a>, <span class="date" date="2017-12-22">Dec. 22, 2017</span>, <a href="/rio/citation/131_Stat._2090">131 Stat. 2090</a>, provided that: </p><div class="quotedContent" origin="/us/pl/115/97/tI/s11051/c"> <span class="inline">“The amendments made by this section [amending this section and sections <a aria-label="26 USC 62" href="/uscode/text/26/62">62</a>, <a aria-label="26 USC 121" href="/uscode/text/26/121">121</a>, <a aria-label="26 USC 152" href="/uscode/text/26/152">152</a>, <a aria-label="26 USC 219" href="/uscode/text/26/219">219</a>, <a aria-label="26 USC 220" href="/uscode/text/26/220">220</a>, <a aria-label="26 USC 223" href="/uscode/text/26/223">223</a>, <a aria-label="26 USC 382" href="/uscode/text/26/382">382</a>, <a aria-label="26 USC 408" href="/uscode/text/26/408">408</a>, <a aria-label="26 USC 3402" href="/uscode/text/26/3402">3402</a>, <a aria-label="26 USC 6724" href="/uscode/text/26/6724">6724</a>, and <a aria-label="26 USC 7701" href="/uscode/text/26/7701">7701</a> of this title and repealing sections <a aria-label="26 USC 71" href="/uscode/text/26/71">71</a>, <a aria-label="26 USC 215" href="/uscode/text/26/215">215</a>, and <a aria-label="26 USC 682" href="/uscode/text/26/682">682</a> of this title] shall apply to—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> any divorce or separation instrument (as defined in section 71(b)(2) of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> as in effect before the date of the enactment of this Act [<span class="date" date="2017-12-22">Dec. 22, 2017</span>]) executed after <span class="date" date="2018-12-31">December 31, 2018</span>, and</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> any divorce or separation instrument (as so defined) executed on or before such date and modified after such date if the modification expressly provides that the amendments made by this section apply to such modification.”</div> </div> </div> </div> <div class="note" topic="effectiveDateOfAmendment"><span class="heading centered smallCaps">Effective Date of 1984 Amendment</span> <p>Amendment by <a href="/rio/citation/Pub._L._98-369">Pub. L. 98–369</a> effective <span class="date" date="1985-01-01">Jan. 1, 1985</span>, see <a href="/rio/citation/Pub._L._98-369">section 531(h) of Pub. L. 98–369</a>, set out as an Effective Date note under <a href="/uscode/text/26/132">section 132 of this title</a>.</p> </div> <div class="note" topic="terminationDate"><span class="heading centered smallCaps">Termination Date of 1978 Amendment</span> <p><a href="/rio/citation/Pub._L._95-615">Pub. L. 95–615, § 210(a)</a>, <span class="date" date="1978-11-08">Nov. 8, 1978</span>, <a href="/rio/citation/92_Stat._3109">92 Stat. 3109</a>, provided that: </p><div class="quotedContent" origin="/us/pl/95/615/s210/a">“Title I of this Act [probably means sections 1 to 8 of <a href="/rio/citation/Pub._L._95-615">Pub. L. 95–615</a>, see Short Title of 1978 Amendment note under <a href="/uscode/text/26/1">section 1 of this title</a>] (other than sections 4 and 5 thereof) [amending <a href="/uscode/text/26/167">section 167 of this title</a>, enacting provisions set out as notes under this section and sections 61 and 62 of this title, and amending provisions set out as notes under sections 117, 167, and 382 of this title] shall cease to have effect on the day after the date of the enactment of this Act [<span class="date" date="1978-11-08">Nov. 8, 1978</span>].”</div> </div> <div class="note" topic="miscellaneous"><span class="heading centered smallCaps">Regulations</span> <p><a href="/rio/citation/Pub._L._95-427">Pub. L. 95–427, § 1</a>, <span class="date" date="1978-10-07">Oct. 7, 1978</span>, <a href="/rio/citation/92_Stat._996">92 Stat. 996</a>, as amended by <a href="/rio/citation/Pub._L._96-167">Pub. L. 96–167, § 1</a>, <span class="date" date="1979-12-29">Dec. 29, 1979</span>, <a href="/rio/citation/93_Stat._1275">93 Stat. 1275</a>; <a href="/rio/citation/Pub._L._97-34">Pub. L. 97–34, title VIII, § 801</a>, <span class="date" date="1981-08-13">Aug. 13, 1981</span>, <a href="/rio/citation/95_Stat._349">95 Stat. 349</a>; <a href="/rio/citation/Pub._L._99-514">Pub. L. 99–514, § 2</a>, <span class="date" date="1986-10-22">Oct. 22, 1986</span>, <a href="/rio/citation/100_Stat._2095">100 Stat. 2095</a>, provided that:</p><div class="quotedContent" origin="/us/pl/99/514/s2"> <div class="subsection indent0"><span class="num" value="a">“(a)</span><span class="heading"> In General.—</span><span class="chapeau">No fringe benefit regulation shall be issued—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> in final form on or after <span class="date" date="1978-05-01">May 1, 1978</span>, and on or before <span class="date" date="1983-12-31">December 31, 1983</span>, or</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> in proposed or final form on or after <span class="date" date="1978-05-01">May 1, 1978</span>, if such regulation has an effective date on or before <span class="date" date="1983-12-31">December 31, 1983</span>.</div> </div> </div> <div class="subsection indent0"><span class="num" value="b">“(b)</span><span class="heading"> Definition of Fringe Benefit Regulation.—</span> <div class="content">For purposes of subsection (a), the term ‘fringe benefit regulation’ means a regulation providing for the inclusion of any fringe benefit in gross income by reason of section 61 of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> [formerly I.R.C. 1954].”</div> </div> </div> <p><a href="/rio/citation/Pub._L._95-615">Pub. L. 95–615, § 3</a>, <span class="date" date="1978-11-08">Nov. 8, 1978</span>, <a href="/rio/citation/92_Stat._3097">92 Stat. 3097</a>, as amended by <a href="/rio/citation/Pub._L._99-514">Pub. L. 99–514, § 2</a>, <span class="date" date="1986-10-22">Oct. 22, 1986</span>, <a href="/rio/citation/100_Stat._2095">100 Stat. 2095</a>, provided that no regulations be issued in final form on or after <span class="date" date="1977-10-01">Oct. 1, 1977</span>, and before <span class="date" date="1978-07-01">July 1, 1978</span>, providing for inclusion of any fringe benefit in gross income by reason of section 61 of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> [formerly I.R.C. 1954], ceased to have effect on the day after <span class="date" date="1978-11-08">Nov. 8, 1978</span>, pursuant to section 210(a) of that Act.</p> </div> <div class="note" topic="miscellaneous"><span class="heading centered smallCaps">No Gain Recognized From Net Gifts Made Before <span class="date" date="1981-03-04">March 4, 1981</span></span> <p><a href="/rio/citation/Pub._L._98-369">Pub. L. 98–369, div. A, title X, § 1026</a>, <span class="date" date="1984-07-18">July 18, 1984</span>, <a href="/rio/citation/98_Stat._1031">98 Stat. 1031</a>, as amended by <a href="/rio/citation/Pub._L._99-514">Pub. L. 99–514, § 2</a>, <span class="date" date="1986-10-22">Oct. 22, 1986</span>, <a href="/rio/citation/100_Stat._2095">100 Stat. 2095</a>, provided that:</p><div class="quotedContent" origin="/us/pl/99/514/s2"> <div class="subsection indent0"><span class="num" value="a">“(a)</span><span class="heading"> In General.—</span> <div class="content">In the case of any transfer of property subject to gift tax made before <span class="date" date="1981-03-04">March 4, 1981</span>, for purposes of subtitle A of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> [formerly I.R.C. 1954, <a aria-label="26 U.S.C. 1" href="https://www.law.cornell.edu/uscode/text/26/1">26 U.S.C. 1</a> et seq.], gross income of the donor shall not include any amount attributable to the donee’s payment of (or agreement to pay) any gift tax imposed with respect to such gift.</div> </div> <div class="subsection indent0"><span class="num" value="b">“(b)</span><span class="heading"> Gift Tax Defined.—</span><span class="chapeau">For purposes of subsection (a), the term ‘gift tax’ means—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> the tax imposed by chapter 12 of such Code [<a aria-label="26 U.S.C. 2501" href="https://www.law.cornell.edu/uscode/text/26/2501">26 U.S.C. 2501</a> et seq.], and</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> any tax imposed by a State (or the District of Columbia) on transfers by gifts.</div> </div> </div> <div class="subsection indent0"><span class="num" value="c">“(c)</span><span class="heading"> Statute of Limitations.—</span> <div class="content">If refund or credit of any overpayment of tax resulting from subsection (a) is prevented on the date of the enactment of this Act [<span class="date" date="1984-07-18">July 18, 1984</span>] (or at any time within 1 year after such date) by the operation of any law or rule of law (including res judicata), refund or credit of such overpayment (to the extent attributable to subsection (a)) may nevertheless be made or allowed if claim therefor is filed within 1 year after the date of the enactment of this Act.”</div> </div> </div> </div> <div class="note" topic="miscellaneous"><span class="heading centered smallCaps"><a href="/topn/payment-in-kind_tax_treatment_act_of_1983">Payment-in-Kind Tax Treatment Act of 1983</a></span> <p><a href="/rio/citation/Pub._L._98-4">Pub. L. 98–4</a>, <span class="date" date="1983-03-11">Mar. 11, 1983</span>, <a href="/rio/citation/97_Stat._7">97 Stat. 7</a>, as amended by <a href="/rio/citation/Pub._L._98-369">Pub. L. 98–369, div. A, title X, § 1061(a)</a>, <span class="date" date="1984-07-18">July 18, 1984</span>, <a href="/rio/citation/98_Stat._1046">98 Stat. 1046</a>; <a href="/rio/citation/Pub._L._99-514">Pub. L. 99–514, § 2</a>, <span class="date" date="1986-10-22">Oct. 22, 1986</span>, <a href="/rio/citation/100_Stat._2095">100 Stat. 2095</a>; <a href="/rio/citation/Pub._L._100-647">Pub. L. 100–647, title VI, § 6252(a)(1)</a>, <span class="date" date="1988-11-10">Nov. 10, 1988</span>, <a href="/rio/citation/102_Stat._3752">102 Stat. 3752</a>, provided that:</p><div class="quotedContent" origin="/us/pl/100/647/tVI/s6252/a/1"> <div class="section"><span class="num" value="1">“SECTION 1.</span><span class="heading"> SHORT TITLE.</span> <div class="content"> <p>“This Act may be cited as the ‘<a href="/topn/payment-in-kind_tax_treatment_act_of_1983">Payment-in-Kind Tax Treatment Act of 1983</a>’.</p> </div> </div> <div class="section"><span class="num" value="2">“SEC. 2.</span><span class="heading"> INCOME TAX TREATMENT OF AGRICULTURAL COMMODITIES RECEIVED UNDER A 1983 PAYMENT-IN-KIND PROGRAM.</span> <div class="subsection indent0"><span class="num" value="a">“(a)</span><span class="heading"> Income Tax Deferral, Etc.—</span><span class="chapeau">Except as otherwise provided in this Act, for purposes of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> [formerly I.R.C. 1954]—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> a qualified taxpayer shall not be treated as having realized income when he receives a commodity under a 1983 payment-in-kind program,</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> such commodity shall be treated as if it were produced by such taxpayer, and</div> </div> <div class="paragraph indent1"><span class="num" value="3">“(3)</span> <div class="content"> the unadjusted basis of such commodity in the hands of such taxpayer shall be zero.</div> </div> </div> <div class="subsection indent0"><span class="num" value="b">“(b)</span><span class="heading"> Effective Date.—</span> <div class="content">This section shall apply to taxable years ending after <span class="date" date="1982-12-31">December 31, 1982</span>, but only with respect to commodities received for the 1983 crop year.</div> </div> </div> <div class="section"><span class="num" value="3">“SEC. 3.</span><span class="heading"> LAND DIVERTED UNDER 1983 PAYMENT-IN-KIND PROGRAM TREATED AS USED IN FARMING BUSINESS, ETC.</span> <div class="subsection indent0"><span class="num" value="a">“(a)</span><span class="heading"> General Rule.—</span><span class="chapeau">For purposes of the provisions specified in subsection (b), in the case of any land diverted from the production of an agricultural commodity under a 1983 payment-in-kind program—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> such land shall be treated as used during the 1983 crop year by the qualified taxpayer in the active conduct of the trade or business of farming, and</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> any qualified taxpayer who materially participates in the diversion and devotion to conservation uses required under a 1983 payment-in-kind program shall be treated as materially participating in the operation of such land during such crop year.</div> </div> </div> <div class="subsection indent0"><span class="num" value="b">“(b)</span><span class="heading"> Provisions to Which Subsection (a) Applies.—</span><span class="chapeau">The provisions specified in this subsection are—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> section 2032A of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> (relating to valuation of certain farm, etc., real property),</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> section 6166 of such Code (relating to extension of time for payment of estate tax where estate consists largely of interest in closely held business),</div> </div> <div class="paragraph indent1"><span class="num" value="3">“(3)</span> <div class="content"> chapter 2 of such Code (relating to tax on self-employment income), and</div> </div> <div class="paragraph indent1"><span class="num" value="4">“(4)</span> <div class="content"> title II of the <a href="/topn/old_age_pension_act">Social Security Act</a> [<a aria-label="42 U.S.C. 401" href="https://www.law.cornell.edu/uscode/text/42/401">42 U.S.C. 401</a> et seq.] (relating to Federal <span link="https://liicornell.org/liifedent/ssa_old-age_survivors_and_disability_insurance" occur="1" src="named_federal_agencies">old-age, survivors, and disability insurance</span> benefits).</div> </div> </div> </div> <div class="section"><span class="num" value="4">“SEC. 4.</span><span class="heading"> ANTIABUSE RULES.</span> <div class="subsection indent0"><span class="num" value="a">“(a)</span><span class="heading"> General Rule.—</span> <div class="content">In the case of any person, sections 2 and 3 of this Act shall not apply with respect to any land acquired by such person after <span class="date" date="1983-02-23">February 23, 1983</span>, unless such land was acquired in a qualified acquisition.</div> </div> <div class="subsection indent0"><span class="num" value="b">“(b)</span><span class="heading"> Qualified Acquisition.—</span><span class="chapeau">For purposes of this section, the term ‘qualified acquisition’ means any acquisition—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> by reason of the death of a qualified transferor,</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> by reason of a gift from a qualified transferor, or</div> </div> <div class="paragraph indent1"><span class="num" value="3">“(3)</span> <div class="content"> from a qualified transferor who is a member of the family of the person acquiring the land.</div> </div> </div> <div class="subsection indent0"><span class="num" value="c">“(c)</span><span class="heading"> Definitions and Special Rules.—</span><span class="chapeau">For purposes of this section—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span><span class="heading"> Qualified transferor.—</span><span class="chapeau">The term ‘qualified transferor’ means any person—</span> <div class="subparagraph indent2"><span class="num" value="A">“(A)</span> <div class="content"> who held the land on <span class="date" date="1983-02-23">February 23, 1983</span>, or</div> </div> <div class="subparagraph indent2"><span class="num" value="B">“(B)</span> <div class="content"> who acquired the land after <span class="date" date="1983-02-23">February 23, 1983</span>, in a qualified acquisition.</div> </div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span><span class="heading"> Member of family.—</span> <div class="content">The term ‘member of the family’ has the meaning given such term by section 2032A(e)(2) of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a>.</div> </div> <div class="paragraph indent1"><span class="num" value="3">“(3)</span><span class="heading"> Mere change in form of business.—</span> <div class="content">Subsection (a) shall not apply to any change in ownership by reason of a mere change in the form of conducting the trade or business so long as the land is retained in such trade or business and the person holding the land before such change retains a direct or indirect 80-percent interest in such land.</div> </div> <div class="paragraph indent1"><span class="num" value="4">“(4)</span><span class="heading"> Treatment of certain acquisitions of right to the crop.—</span> <div class="content">The acquisition of a direct or indirect interest in 80 percent or more of the crop from any land shall be treated as an acquisition of such land.</div> </div> </div> </div> <div class="section"><span class="num" value="5">“SEC. 5.</span><span class="heading"> DEFINITIONS AND SPECIAL RULES.</span> <div class="subsection indent0"><span class="num" value="a">“(a)</span><span class="heading"> General Rule.—</span><span class="chapeau">For purposes of this Act—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span><span class="heading"> 1983 payment-in-kind program.—</span><span class="chapeau">The term ‘1983 payment-in-kind program’ means any program for the 1983 crop year—</span> <div class="subparagraph indent2"><span class="num" value="A">“(A)</span><span class="chapeau"> under which the Secretary of Agriculture (or his delegate) makes payments in kind of any agricultural commodity to any person in return for—</span> <div class="clause indent3"><span class="num" value="i">“(i)</span> <div class="content"> the diversion of farm acreage from the production of an agricultural commodity, and</div> </div> <div class="clause indent3"><span class="num" value="ii">“(ii)</span> <div class="content"> the devotion of such acreage to conservation uses, and</div> </div> </div> <div class="subparagraph indent2"><span class="num" value="B">“(B)</span> <div class="content"> which the Secretary of Agriculture certifies to the Secretary of the Treasury as being described in subparagraph (A).</div> </div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span><span class="heading"> Crop year.—</span> <div class="content">The term ‘1983 crop year’ means the crop year for any crop the planting or harvesting period for which occurs during 1983. The term ‘1984 crop year’ means the crop year for wheat the planting and harvesting period for which occurs during 1984.</div> </div> <div class="paragraph indent1"><span class="num" value="3">“(3)</span><span class="heading"> Qualified taxpayer.—</span> <div class="content">The term ‘qualified taxpayer’ means any producer of agricultural commodities (within the meaning of the 1983 payment-in-kind programs) who receives any agricultural commodity in return for meeting the requirements of clauses (i) and (ii) of paragraph (1)(A).</div> </div> <div class="paragraph indent1"><span class="num" value="4">“(4)</span><span class="heading"> Receipt includes right to receive, etc.—</span> <div class="content">A right to receive (or other constructive receipt of) a commodity shall be treated the same as actual receipt of such commodity.</div> </div> <div class="paragraph indent1"><span class="num" value="5">“(5)</span><span class="heading"> Amounts received by the taxpayer as reimbursement for storage.—</span> <div class="content">A qualified taxpayer reporting on the cash receipts and disbursements method of accounting shall not be treated as being entitled to receive any amount as reimbursement for storage of commodities received under a 1983 payment-in-kind program until such amount is actually received by the taxpayer.</div> </div> <div class="paragraph indent1"><span class="num" value="6">“(6)</span><span class="heading"> Commodity credit loans treated separately.—</span> <div class="content">Subsection (a) of section 2 shall apply to the receipt of any commodity under a 1983 payment-in-kind program separately from, and without taking into account, any related transaction or series of transactions involving the satisfaction of loans from the <span link="https://liicornell.org/liifedent/usda_commodity_credit_corporation" occur="1" src="named_federal_agencies">Commodity Credit Corporation</span>.</div> </div> </div> <div class="subsection indent0"><span class="num" value="b">“(b)</span><span class="heading"> Extension to Wheat Planted and Harvested in 1984.—</span><span class="chapeau">In the case of wheat—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> any reference in this Act to the 1983 crop year shall include a reference to the 1984 crop year, and</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> any reference to the 1983 payment-in-kind program shall include a reference to any program for the 1984 year for wheat which meets the requirements of subparagraphs (A) and (B) of subsection (a)(1).</div> </div> </div> <div class="subsection indent0"><span class="num" value="c">“(c)</span><span class="heading"> Regulations.—</span> <div class="content">The Secretary of the Treasury or his delegate (after consultation with the Secretary of Agriculture) shall prescribe such regulations as may be necessary to carry out the purposes of this Act, including (but not limited to) such regulations as may be necessary to carry out the purposes of this Act where the commodity is received by a cooperative on behalf of the qualified taxpayer.”</div> </div> </div> </div> <p>[<a href="/rio/citation/Pub._L._98-369">Pub. L. 98–369, div. A, title X, § 1061(b)</a>, <span class="date" date="1984-07-18">July 18, 1984</span>, <a href="/rio/citation/98_Stat._1047">98 Stat. 1047</a>, provided that: </p><div class="quotedContent" origin="/us/pl/98/369/dA/tX/s1061/b">“The amendments made by this section [amending <a href="/rio/citation/Pub._L._98-4">Pub. L. 98–4</a> set out above] shall apply with respect to commodities received for the 1984 crop year (as defined in section 5(a)(2) of the <a href="/topn/payment-in-kind_tax_treatment_act_of_1983">Payment-in-Kind Tax Treatment Act of 1983</a> [<a href="/rio/citation/Pub._L._98-4">Pub. L. 98–4</a>, set out above] as amended by subsection (a)).”</div> ] </div> <div class="note" topic="miscellaneous"><span class="heading centered smallCaps">Cancellation of Certain Student Loans</span> <p><a href="/rio/citation/Pub._L._94-455">Pub. L. 94–455, title XXI, § 2117</a>, <span class="date" date="1976-10-04">Oct. 4, 1976</span>, <a href="/rio/citation/90_Stat._1911">90 Stat. 1911</a>, as amended by <a href="/rio/citation/Pub._L._95-600">Pub. L. 95–600, title I, § 162</a>, <span class="date" date="1978-11-06">Nov. 6, 1978</span>, <a href="/rio/citation/92_Stat._2810">92 Stat. 2810</a>; <a href="/rio/citation/Pub._L._99-514">Pub. L. 99–514, § 2</a>, <span class="date" date="1986-10-22">Oct. 22, 1986</span>, <a href="/rio/citation/100_Stat._2095">100 Stat. 2095</a>, provided that no amount be included in gross income of an individual for purposes of <a aria-label="26 U.S.C. 61" href="https://www.law.cornell.edu/uscode/text/26/61">26 U.S.C. 61</a> by reason of the discharge made before <span class="date" date="1983-01-01">Jan. 1, 1983</span> of the indebtedness of the individual under a student loan if the discharge was pursuant to a provision of the loan under which the indebtedness of the individual would be discharged if the individual worked for a certain period of time in certain geographical areas or for certain classes of employers.</p> </div> <div class="note" topic="miscellaneous"><span class="heading centered smallCaps">Regulations Relating to Tax Treatment of Certain Prepublication Expenditures of Publishers</span> <p><a href="/rio/citation/Pub._L._94-455">Pub. L. 94–455, title XXI, § 2119</a>, <span class="date" date="1976-10-04">Oct. 4, 1976</span>, <a href="/rio/citation/90_Stat._1912">90 Stat. 1912</a>, as amended by <a href="/rio/citation/Pub._L._99-514">Pub. L. 99–514, § 2</a>, <span class="date" date="1986-10-22">Oct. 22, 1986</span>, <a href="/rio/citation/100_Stat._2095">100 Stat. 2095</a>, provided that:</p><div class="quotedContent" origin="/us/pl/99/514/s2"> <div class="subsection indent0"><span class="num" value="a">“(a)</span><span class="heading"> General Rule.—</span><span class="chapeau">With respect to taxable years beginning on or before the date on which regulations dealing with prepublication expenditures are issued after the date of the enactment of this Act [<span class="date" date="1976-10-04">Oct. 4, 1976</span>], the application of sections 61 (as it relates to cost of goods sold), 162, 174, 263, and 471 of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> [formerly I.R.C. 1954] to any prepublication expenditure shall be administered—</span> <div class="paragraph indent1"><span class="num" value="1">“(1)</span> <div class="content"> without regard to Revenue Ruling 73–395, and</div> </div> <div class="paragraph indent1"><span class="num" value="2">“(2)</span> <div class="content"> in the manner in which such sections were applied consistently by the taxpayer to such expenditures before the date of the issuance of such revenue ruling.</div> </div> </div> <div class="subsection indent0"><span class="num" value="b">“(b)</span><span class="heading"> Regulations To Be Prospective Only.—</span> <div class="content">Any regulations issued after the date of the enactment of this Act [<span class="date" date="1976-10-04">Oct. 4, 1976</span>] which deal with the application of sections 61 (as it relates to cost of goods sold), 162, 174, 263, and 471 of the <a href="/topn/internal_revenue_code_of_1954">Internal Revenue Code of 1986</a> to prepublication expenditures shall apply only with respect to taxable years beginning after the date on which such regulations are issued.</div> </div> <div class="subsection indent0"><span class="num" value="c">“(c)</span><span class="heading"> Prepublication Expenditures Defined.—</span> <div class="content">For purposes of this section, the term ‘prepublication expenditures’ means expenditures paid or incurred by the taxpayer (in connection with his trade or business of publishing) for the writing, editing, compiling, illustrating, designing, or other development or improvement of a book, teaching aid, or similar product.”</div> </div> </div> </div> <div class="note" topic="miscellaneous"><span class="heading centered smallCaps">Reimbursement of Moving Expenses of Employees of Certain Corporations Excluded From Gross Income; Claim for Refund or Credit; Limitations; Interest</span> <p><a href="/rio/citation/Pub._L._86-780">Pub. L. 86–780, § 5</a>, <span class="date" date="1960-09-14">Sept. 14, 1960</span>, <a href="/rio/citation/74_Stat._1013">74 Stat. 1013</a>, provided for the exclusion from gross income of any amount received after <span class="date" date="1949-12-31">Dec. 31, 1949</span>, and before <span class="date" date="1955-10-01">Oct. 1, 1955</span>, by employees of certain corporations as reimbursement for moving expenses, and the refund or credit of any overpayments.</p> </div> </div></notes> </div> </div> </div> </div> </div> </div> </div> <div id="page-bottom" aria-hidden="true"> <div class="region region-bottom"> <div id="block-liidfp-2" class="block block-liidfp first last odd"> <div class="gfs"> <div id="div-gpt-ad-bottom" data-google-query-id="CNH77Z7C7d8CFURLAQodp9oMpg"> <script type="text/javascript"> googletag.cmd.push(function () { googletag.display('div-gpt-ad-bottom'); }); </script> </div> </div> </div> </div> </div> </div> <aside id="supersizeme" class="col-sm-4" aria-label="Sponsor Listings and Toolbox panel"> <div class="block" id="toolbox"> <h2 class="title toolbox"><span class="glyphicon glyphicon-briefcase"></span> U.S. Code Toolbox </h2> <div class="clear-block wexlink"> <a href="/wex/wex_articles">Law about... 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