# 26 U.S.C. § 1373: Foreign income

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s1373>. Cite pinpoints as 26 U.S.C. § 1373(a)(1).

## § 1373(a) S corporation treated as partnership, etc.

For purposes of subparts A and F of part III, and part V, of subchapter N (relating to income from sources without the United States)—

**§ 1373(a)(1)** an S corporation shall be treated as a partnership, and

**§ 1373(a)(2)** the shareholders of such corporation shall be treated as partners of such partnership.

## § 1373(b) Recapture of overall foreign loss

For purposes of section 904(f) (relating to recapture of overall foreign loss), the making or termination of an election to be treated as an S corporation shall be treated as a disposition of the business.

## Connections

Cites: § 904 Limitation on credit

Cited by: none

## Prior provisions

- A prior section 1373, added Pub. L. 85–866, title I, § 64(a), Sept. 2, 1958, 72 Stat. 1652; amended Pub. L. 89–389, § 2(b)(3), Apr. 14, 1966, 80 Stat. 114; Pub. L. 91–172, title III, § 301(b)(10), Dec. 30, 1969, 83 Stat. 586, related to taxation of corporation undistributed taxable income to shareholders, prior to the general revision of this subchapter by section 2 of Pub. L. 97–354.

## Amendments

- 1982-10-19: [Pub. L. 97-354](/26/act/97-354.md), 96 Stat. 1682