# Pub. L. 96-595: changes to the Internal Revenue Code

1980-12-24, 94 Stat. 3464. Source: <https://www.govinfo.gov/link/plaw/96/public/595>.

## Legislative history

- Bill: [H.R. 4968](https://www.congress.gov/bill/96th-congress/house-bill/4968)

## § 172: Net operating loss deduction

- § 172(b)(1): Pub. L. 96–595 generally revised subpar. (E) to permit a trust which was formerly a real estate investment trust an additional year of carryforward of net operating losses for each year it was denied a net operating loss carryback because of its status as a real estate investment trust, and removed the restriction that a net operating loss incurred before 1976 can be carried forward to the 6th, 7th, or 8th year only if it qualified as a real estate investment trust for all years from the loss year through the carryover year.

## § 911: Citizens or residents of the United States living abroad

- § 911: Pub. L. 96–595 § 4(c)(1), inserted “or from charitable services” after “camps” in section catchline.
- § 911(a): Pub. L. 96–595, § 4(a), inserted “or who performs qualified charitable services in a lesser developed country,” after “hardship area”.
- § 911(c)(1)(A): Pub. L. 96–595, § 4(b)(1), substituted “Dollar limitations” for “In general” in heading, redesignated existing provisions as cl. (i), and in cl. (i) as so redesignated, inserted “Camp residents—In the case of an individual who resides in a camp located in a hardship area” before “the amount excluded”, and added cls. (ii) and (iii).
- § 911(c)(1): Pub. L. 96–595, § 4(b)(2), added subpars. (D) and (E).