Pub. L. 97-354 Oct. 19, 1982

96 Stat. 1691 · Changed 44 sections of the Code

Bill H.R. 6055

§ 31 Tax withheld on wages

    § 40 Alcohol, etc., used as fuel

    • (d)(5) Pub. L. 97–354 substituted “Pass-thru in the case of estates and trusts” for “Pass-through in the case of subchapter S…

    § 41 Credit for increasing research activities

    • (f)(2)(A) Pub. L. 97–354, § 5(a)(3)(A), substituted “Pass-thru in the case of estates and trusts” for “Pass-through in the case…
    • (g)(1) Pub. L. 97–354, § 5(a)(3)(B), substituted “an S corporation” for “an electing small business corporation (within the…

    § 45K Credit for producing fuel from a nonconventional source

    • (d) Pub. L. 97–354 substituted “Pass-thru in the case of estates and trusts” for “Pass-through in the case of subchapter S…

    § 46 Amount of credit

    • § 46 Pub. L. 97–354, § 5(a)(4), substituted “section 1374 (relating to tax on certain capital gains of S corporations)” for…
    • § 46 Pub. L. 97–354, § 5(a)(5), substituted “S corporation” for “electing small business corporation (within the meaning of…
    • § 46 Pub. L. 97–354, § 5(a)(6), substituted “an S corporation” for “an electing small business corporation (as defined in…

    § 48 Energy credit

    • (c)(2)(D) Pub. L. 97–354 substituted “Partnerships and S corporations” for “Partnerships” in subpar. heading, and inserted “A…
    • (e) Pub. L. 97–354, § 5(a)(7), struck out subsec. (e) relating to apportionment among shareholders of qualified investments…
    • § 48 Pub. L. 97–354, § 5(a)(8), substituted “an S corporation” for “an electing small business corporation (within the…

    § 52 Special rules

    • (d) (e) § 52 Pub. L. 97–354 struck out subsec. (d) relating to apportionment of credit among shareholders, and redesignated subsecs.…

    § 62 Adjusted gross income defined

    • § 62 Pub. L. 97–354 repealed par. (9) relating to the deduction allowed by section 1379(b)(3).

    § 108 Income from discharge of indebtedness

    • (d)(6) Pub. L. 97–354 inserted “or S corporation shareholder level” in heading and inserted “In the case of an S corporation…

    § 163 Interest

    • (d)(4) Pub. L. 97–354 redesignated subpar. (D) as (B). Former subpars. (B) and (C), relating to partnerships and shareholders…

    § 168 Accelerated cost recovery system

    • (f) Pub. L. 97–354, § 5(a)(19), substituted “an S corporation” for “an electing small business corporation (within the…
    • (f) Pub. L. 97–354, § 5(a)(20), in par. (8) as amended by section 209(a) of Pub. L. 97–248, substituted “an S corporation”…

    § 170 Charitable, etc., contributions and gifts

    • (e)(3)(A) Pub. L. 97–354, § 5(a)(21)(A), substituted “an S corporation” for “an electing small business corporation within the…
    • (e)(4)(D)(i) Pub. L. 97–354, § 5(a)(21)(B), substituted “an S corporation” for “an electing small business corporation (as defined…

    § 172 Net operating loss deduction

    • (f) Pub. L. 97–354 struck out subsec. (f) relating to net operating loss of electing small business corporation.

    § 179 Election to expense certain depreciable business assets

    • (d)(8) Pub. L. 97–354 substituted “partnerships and S corporations” for “partnerships” in heading, and inserted “A similar…

    § 183 Activities not engaged in for profit

    • (a) Pub. L. 97–354 substituted “an S corporation” for “an electing small business corporation (as defined in section…

    § 194 Treatment of reforestation expenditures

    • (b)(2)(B) Pub. L. 97–354 substituted “Partnerships and S corporations” for “Partnerships” in heading, and inserted “A similar…

    § 267 Losses, expenses, and interest with respect to transactions between related taxpayers

    • (b)(10) (b)(11) (b)(12) Pub. L. 97–354, § 3(h)(1), (3), added pars. (10) to (12).
    • (f) Pub. L. 97–354, § 3(h)(2), added subsec. (f).

    § 280A Disallowance of certain expenses in connection with business use of home, rental of vacation homes, etc.

    • (a) (e)(1) Pub. L. 97–354, § 5(a)(26)(A), (B), substituted “an S corporation” for “an electing small business corporation”.
    • (f)(2) Pub. L. 97–354, § 5(a)(26)(C), substituted “shareholders of S corporation” for “electing small business corporation” in…

    § 291 Special rules relating to corporate preference items

    • (a) Pub. L. 97–354, § 5(a)(27)(A), substituted “a corporation” for “an applicable corporation” wherever appearing.
    • (b) Pub. L. 97–354, § 5(a)(27)(A), substituted “a corporation” for “an applicable corporation”.
    • (e)(2) (e) Pub. L. 97–354, § 5(a)(27)(B), redesignated par. (3) as (2). Former par. (2), defining “applicable corporation”, was…

    § 447 Method of accounting for corporations engaged in farming

    • (c)(1) Pub. L. 97–354, § 5(a)(28), substituted “an S corporation” for “an electing small business corporation (within the…
    • § 447 Pub. L. 97–354, § 5(a)(29), substituted in subpar. (A)(i) “an S corporation” for “an electing small business…

    § 464 Limitations on deductions for certain farming expenses

    • (c) Pub. L. 97–354 substituted “an S corporation” for “an electing small business corporation (as defined in section…

    § 465 Deductions limited to amount at risk

    • (a)(1) Pub. L. 97–354, § 5(a)(31)(A), redesignated subpar. (C) as (B). Former subpar. (B), relating to an electing small…
    • (a)(3) Pub. L. 97–354, § 5(a)(31)(B), substituted “paragraph (1)(B)” for “paragraph (1)(C)” in heading and text.
    • (c)(2) Pub. L. 97–354, § 5(a)(31)(C), substituted “an S corporation” for “an electing small business corporation” the first…
    • (c)(3)(B)(ii) Pub. L. 97–354, § 5(a)(31)(D), substituted “an S corporation” for “electing small business corporation (as defined in…
    • (c)(4)(A) Pub. L. 97–354, § 5(a)(31)(E), substituted “subsection (a)(1)(B)” for “subsection (a)(1)(C)”.

    § 613A Limitations on percentage depletion in case of oil and gas wells

    • (c) Pub. L. 97–354 added par. (13).

    § 992 Requirements of a domestic international sales corporation

    • (d) Pub. L. 97–354 substituted “an S corporation” for “an electing small business corporation (as defined in section…

    § 1016 Adjustments to basis

    • (a)(18) Pub. L. 97–354 substituted “section 1367” for “section 1376”, “indebtedness owed to” for “indebtedness owing”, and “an…

    § 1212 Capital loss carrybacks and carryovers

    • (a)(3) (a)(4) Pub. L. 97–354 struck out par. (3) relating to electing small business corporations, and redesignated par. (4) as (3).

    § 1254 Gain from disposition of interest in oil, gas, geothermal, or other mineral properties

    • (b)(2) Pub. L. 97–354 substituted “an S corporation” for “an electing small business corporation (as defined in section…

    § 1256 Section 1256 contracts marked to market

    • (e)(3)(B) Pub. L. 97–354 substituted “an S corporation” for “an electing small business corporation within the meaning of section…

    § 1361 S corporation defined

    § 1362 Election; revocation; termination

    § 1363 Effect of election on corporation

    § 1366 Pass-thru of items to shareholders

    § 1367 Adjustments to basis of stock of shareholders, etc.

    § 1368 Distributions

    § 1371 Coordination with subchapter C

    § 1372 Partnership rules to apply for fringe benefit purposes

    § 1373 Foreign income

    § 1374 Tax imposed on certain built-in gains

    § 1375 Tax imposed when passive investment income of corporation having accumulated earnings and profits exceeds 25 percent of gross receipts

    § 1377 Definitions and special rule

    § 1378 Taxable year of S corporation

    § 1379 Transitional rules on enactment

    § 6037 Return of S corporation

    • § 6037 Pub. L. 97–354 substituted “S corporation” for “electing small business corporation” in section catchline, substituted…

    § 6042 Returns regarding payments of dividends and corporate earnings and profits

    • (b)(2) Pub. L. 97–354 redesignated cl. (A)(i) as subpar. (A) and cl. (A)(ii) as subpar. (B). Former subpar. (B), excluding…