US Code

Public Law 119-73 (01/23/2026)

26 U.S.C. § 246

Rules applying to deductions for dividends received

(a)

Deduction not allowed for dividends from certain corporations

(1)

In general

1

1 So in original. Probably should be followed by a comma.
The deductions allowed by sections 243  245, and 245A shall not apply to any dividend from a corporation which, for the taxable year of the corporation in which the distribution is made, or for the next preceding taxable year of the corporation, is a corporation exempt from tax under section 501 (relating to certain charitable, etc., organizations) or section 521 (relating to farmers’ cooperative associations).

(2)

Subsection not to apply to certain dividends of Federal Home Loan Banks

(A)

Dividends out of current earnings and profits

In the case of any dividend paid by any FHLB out of earnings and profits of the FHLB for the taxable year in which such dividend was paid, paragraph (1) shall not apply to that portion of such dividend which bears the same ratio to the total dividend as—
(i)
the dividends received by the FHLB from the FHLMC during such taxable year, bears to
(ii)
the total earnings and profits of the FHLB for such taxable year.
(B)

Dividends out of accumulated earnings and profits

In the case of any dividend which is paid out of any accumulated earnings and profits of any FHLB, paragraph (1) shall not apply to that portion of the dividend which bears the same ratio to the total dividend as—
(i)
the amount of dividends received by such FHLB from the FHLMC which are out of earnings and profits of the FHLMC—
(I)
for taxable years ending after , and
(II)
which were not previously treated as distributed under subparagraph (A) or this subparagraph, bears to
(ii)
the total accumulated earnings and profits of the FHLB as of the time such dividend is paid.
For purposes of clause (ii), the accumulated earnings and profits of the FHLB as of , shall be treated as equal to its retained earnings as of such date.
(C)

Coordination with section 243

To the extent that paragraph (1) does not apply to any dividend by reason of subparagraph (A) or (B) of this paragraph, the requirement contained in section 243(a) that the corporation paying the dividend be subject to taxation under this chapter shall not apply.

(D)

Definitions

For purposes of this paragraph—
(i)

FHLB

The term “FHLB” means any Federal Home Loan Bank.

(ii)

FHLMC

The term “FHLMC” means the Federal Home Loan Mortgage Corporation.

(iii)

Taxable year of FHLB

The taxable year of an FHLB shall, except as provided in regulations prescribed by the Secretary, be treated as the calendar year.

(iv)

Earnings and profits

The earnings and profits of any FHLB for any taxable year shall be treated as equal to the sum of—
(I)
any dividends received by the FHLB from the FHLMC during such taxable year, and
(II)
12 U.S.C. 1440 the total earnings and profits (determined without regard to dividends described in subclause (I)) of the FHLB as reported in its annual financial statement prepared in accordance with section 20 of the Federal Home Loan Bank Act ().
(b)

Limitation on aggregate amount of deductions

(1)

General rule

2

2 So in original.
222Except as provided in paragraph (2), the aggregate amount of the deductions allowed by section 243(a)(1), subsection  (a) and  (b) of section 245, and section 250 shall not exceed the percentage determined under paragraph (3) of the taxable income computed without regard to the deductions allowed by sections 172, 199A, 243(a)(1), subsection  (a) and  (b) of section 245, and 250, without regard to any adjustment under section 1059, and without regard to any capital loss carryback to the taxable year under section 1212(a)(1).

(2)

Effect of net operating loss

Paragraph (1) shall not apply for any taxable year for which there is a net operating loss (as determined under section 172).

(3)

Special rules

The provisions of paragraph (1) shall be applied—
(A)
first separately with respect to dividends from 20-percent owned corporations (as defined in section 243(c)(2)) and the percentage determined under this paragraph shall be 65 percent, and
(B)
then separately with respect to dividends not from 20-percent owned corporations and the percentage determined under this paragraph shall be 50 percent and the taxable income shall be reduced by the aggregate amount of dividends from 20-percent owned corporations (as so defined).
(c)

Exclusion of certain dividends

(1)

In general

1No deduction shall be allowed under section 243  245, or 245A, in respect of any dividend on any share of stock—
(A)
which is held by the taxpayer for 45 days or less during the 91-day period beginning on the date which is 45 days before the date on which such share becomes ex-dividend with respect to such dividend, or
(B)
to the extent that the taxpayer is under an obligation (whether pursuant to a short sale or otherwise) to make related payments with respect to positions in substantially similar or related property.
(2)

90-day rule in the case of certain preference dividends

In the case of stock having preference in dividends, if the taxpayer receives dividends with respect to such stock which are attributable to a period or periods aggregating in excess of 366 days, paragraph (1)(A) shall be applied—
(A)
by substituting “90 days” for “45 days” each place it appears, and
(B)
by substituting “181-day period” for “91-day period”.
(3)

Determination of holding periods

For purposes of this subsection, in determining the period for which the taxpayer has held any share of stock—
(A)
the day of disposition, but not the day of acquisition, shall be taken into account, and
(B)
paragraph (3) of section 1223 shall not apply.
(4)

Holding period reduced for periods where risk of loss diminished

The holding periods determined for purposes of this subsection shall be appropriately reduced (in the manner provided in regulations prescribed by the Secretary) for any period (during such periods) in which—
(A)
the taxpayer has an option to sell, is under a contractual obligation to sell, or has made (and not closed) a short sale of, substantially identical stock or securities,
(B)
the taxpayer is the grantor of an option to buy substantially identical stock or securities, or
(C)
under regulations prescribed by the Secretary, a taxpayer has diminished his risk of loss by holding 1 or more other positions with respect to substantially similar or related property.
The preceding sentence shall not apply in the case of any qualified covered call (as defined in section 1092(c)(4) but without regard to the requirement that gain or loss with respect to the option not be ordinary income or loss), other than a qualified covered call option to which section 1092(f) applies.
(5)

Special rules for foreign source portion of dividends received from specified 10-percent owned foreign corporations

(A)

1-year holding period requirement

For purposes of section 245A—
(i)
paragraph (1)(A) shall be applied—
(I)
by substituting “365 days” for “45 days” each place it appears, and
(II)
by substituting “731-day period” for “91-day period”, and
(ii)
paragraph (2) shall not apply.
(B)

Status must be maintained during holding period

For purposes of applying paragraph (1) with respect to section 245A, the taxpayer shall be treated as holding the stock referred to in paragraph (1) for any period only if—
(i)
the specified 10-percent owned foreign corporation referred to in section 245A(a) is a specified 10-percent owned foreign corporation at all times during such period, and
(ii)
the taxpayer is a United States shareholder with respect to such specified 10-percent owned foreign corporation at all times during such period.
(d)

Dividends from a DISC or former DISC

No deduction shall be allowed under section 243 in respect of a dividend from a corporation which is a DISC or former DISC (as defined in section 992(a)) to the extent such dividend is paid out of the corporation’s accumulated DISC income or previously taxed income, or is a deemed distribution pursuant to section 995(b)(1).

Aug. 16, 1954, ch. 73668A Stat. 74Pub. L. 85–866, title I72 Stat. 1614Pub. L. 88–272, title II, § 214(b)(2)78 Stat. 55Pub. L. 91–172, title IV, § 434(b)(1)83 Stat. 625Pub. L. 92–178, title V, § 502(a)85 Stat. 549Pub. L. 94–455, title X, § 1051(f)(3)90 Stat. 1646Pub. L. 97–248, title II, § 213(c)96 Stat. 465Pub. L. 98–369, div. A, title I98 Stat. 567Pub. L. 99–514, title VI, § 611(a)(3)100 Stat. 2249Pub. L. 100–203, title X, § 10221(c)(1)101 Stat. 1330–409Pub. L. 100–647, title I, § 1018(u)(10)102 Stat. 3590Pub. L. 104–188, title I, § 1616(b)(4)110 Stat. 1856Pub. L. 105–34, title X, § 1015(a)111 Stat. 921Pub. L. 108–311, title IV, § 406(f)118 Stat. 1190Pub. L. 108–357, title I, § 102(d)(4)118 Stat. 1429Pub. L. 109–135, title IV, § 402(a)(4)119 Stat. 2610Pub. L. 113–295, div. A, title II, § 221(a)(41)(E)128 Stat. 4044Pub. L. 115–97, title I131 Stat. 2071Pub. L. 115–141, div. U, title IV, § 401(d)(1)(D)(vi)132 Stat. 1207(, ; , §§ 18(a), 57(c)(2), , , 1646; , , ; , title V, § 512(f)(3), , , 641; , , ; , title XIX, § 1906(b)(13)(A), , , 1834; , , ; , §§ 53(b), (d)(2), 177(b), title VIII, § 801(b)(2)(A), , , 568, 709, 995; , title XII, § 1275(a)(2)(B), title XVIII, §§ 1804(b)(1)(A), (B), 1812(d)(1), , , 2598, 2798, 2835; , , ; , , ; , , ; , (b), , , 922; , , ; , title VIII, § 888(d), , , 1643; , , ; , , ; , §§ 11011(d)(2), 13002(c), 13305(b)(1), 14101(b), (c)(1), 14202(b)(2), , , 2100, 2126, 2191, 2216; , , .)

Editorial Notes

Amendments

Pub. L. 115–1412018—Subsec. (e). struck out subsec. (e). Prior to amendment, text read as follows: “No deduction shall be allowed under section 243(a) with respect to a dividend received pursuant to a distribution described in section 936(h)(4).”

Pub. L. 115–97, § 14101(c)(1)2017—Subsec. (a)(1). , substituted “245, and 245A” for “and 245”.

Pub. L. 115–97, § 14202(b)(2)(B)Subsec. (b)(1). , which directed amendment of par. (1) by substituting “subsection (a) and (b) of section 245, and 250” for “and subsection (a) and (b) of section 245” the second place appearing, was executed by making the substitution for “and subsection (a) or (b) of section 245”, to reflect the probable intent of Congress.

Pub. L. 115–97, § 14202(b)(2)(A), which directed amendment of par. (1) by substituting “, subsection (a) and (b) of section 245, and section 250” for “and subsection (a) and (b) of section 245” the first place appearing, was executed by making the substitution for “and subsection (a) or (b) of section 245”, to reflect the probable intent of Congress.

Pub. L. 115–97, § 13305(b)(1), struck out “199,” after “sections 172,”.

Pub. L. 115–97, § 11011(d)(2), which directed insertion of “199A,” before “243(a)(1)”, was executed by making the insertion before “243(a)(1)” the second place appearing, to reflect the probable intent of Congress.

Pub. L. 115–97, § 13002(c)(1)Subsec. (b)(3)(A). , substituted “65 percent” for “80 percent”.

Pub. L. 115–97, § 13002(c)(2)Subsec. (b)(3)(B). , substituted “50 percent” for “70 percent”.

Pub. L. 115–97, § 14101(b)(1)Subsec. (c)(1). , substituted “245, or 245A” for “or 245” in introductory provisions.

Pub. L. 115–97, § 14101(b)(2)Subsec. (c)(5). , added par. (5).

Pub. L. 113–295, § 221(a)(41)(E)(i)2014—Subsec. (a)(1). , struck out “, 244,” after “sections 243”.

Pub. L. 113–295, § 221(a)(41)(E)(ii)Subsec. (b)(1). , substituted “section 243(a)(1)” for “sections 243(a)(1), 244(a),” and “and subsection (a) or (b) of section 245,” for “244(a), subsection (a) or (b) of section 245, and 247,”.

Pub. L. 113–295, § 221(a)(41)(E)(iii)Subsec. (c)(1). , struck out “, 244,” after “section 243” in introductory provisions.

Pub. L. 109–1352005—Subsec. (c)(3)(B). substituted “paragraph (3) of section 1223” for “paragraph (4) of section 1223”.

Pub. L. 108–357, § 102(d)(4)2004—Subsec. (b)(1). , inserted “199,” after “172,”.

Pub. L. 108–311, § 406(f)(1)Subsec. (c)(1)(A). , substituted “91-day period” for “90-day period”.

Pub. L. 108–311, § 406(f)(2)Subsec. (c)(2)(B). , substituted “181-day period” for “180-day period” and “91-day period” for “90-day period”.

Pub. L. 108–357, § 888(d)Subsec. (c)(4). , inserted “, other than a qualified covered call option to which section 1092(f) applies” before period at end of concluding provisions.

Pub. L. 105–34, § 1015(a)1997—Subsec. (c)(1)(A). , amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “which is held by the taxpayer for 45 days or less, or”.

Pub. L. 105–34, § 1015(b)(1)Subsec. (c)(2). , amended heading and text of par. (2) generally. Prior to amendment, text read as follows: “In the case of any stock having preference in dividends, the holding period specified in paragraph (1)(A) shall be 90 days in lieu of 45 days if the taxpayer receives dividends with respect to such stock which are attributable to a period or periods aggregating in excess of 366 days.”

Pub. L. 105–34, § 1015(b)(2)Subsec. (c)(3). , inserted “and” at end of subpar. (A), redesignated subpar. (C) as (B), and struck out former subpar. (B) which read as follows: “there shall not be taken into account any day which is more than 45 days (or 90 days in the case of stock to which paragraph (2) applies) after the date on which such share becomes ex-dividend, and”.

Pub. L. 104–188section 596 of this title1996—Subsec. (f). struck out subsec. (f) which provided a cross reference to for special rule relating to mutual savings banks, etc., to which section 593 applies.

Pub. L. 100–6471988—Subsec. (c)(1)(A). substituted “which” for “Which”.

Pub. L. 100–203, § 10221(c)(1)(A)1987—Subsec. (b)(1). , substituted “the percentage determined under paragraph (3)” for “80 percent”.

Pub. L. 100–203, § 10221(c)(1)(B)Subsec. (b)(3). , added par. (3).

Pub. L. 99–514, § 1812(d)(1)(A)1986—Subsec. (a)(2)(B). , substituted “In” for “For purposes of subparagraph (A), in” in introductory provisions and substituted cl. (i)(II) for former cl. (i)(II) which read as follows: “which were not taken into account under subparagraph (A), bears to”.

Pub. L. 99–514, § 1812(d)(1)(B)Subsec. (a)(2)(C), (D). , (C), added subpar. (C), redesignated former subpar. (C) as (D), and added cl. (iv) to subpar. (D).

Pub. L. 99–514, § 611(a)(3)Subsec. (b)(1). , substituted “80 percent” for “85 percent”.

Pub. L. 99–514, § 1804(b)(1)(A)Subsec. (c)(1)(A). , amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “which is sold or otherwise disposed of in any case in which the taxpayer has held such share for 45 days or less, or”.

Pub. L. 99–514, § 1804(b)(1)(B)Subsec. (c)(4). , substituted “determined for purposes of this subsection” for “determined under paragraph (3)”.

Pub. L. 99–514, § 1275(a)(2)(B)Subsec. (e). , struck out “or 934(e)(3)” after “936(h)(4)”.

Pub. L. 98–369, § 177(b)1984—Subsec. (a). , amended subsec. (a) generally, designating existing provisions as par. (1) and adding par. (2).

Pub. L. 98–369, § 801(b)(2)(A)Subsec. (b)(1). , substituted “subsection (a) or (b) of section 245” for “245” in two places.

Pub. L. 98–369, § 53(d)(2), substituted “without regard to any adjustment under section 1059, and without regard” for “and without regard”.

Pub. L. 98–369, § 53(b)(1)Subsec. (c)(1)(A). , substituted “45” for “15”.

Pub. L. 98–369, § 53(b)(3)Subsec. (c)(1)(B). , substituted “to make related payments with respect to positions in substantially similar or related property” for “to make corresponding payments with respect to substantially identical stock or securities”.

Pub. L. 98–369, § 53(b)(1)Subsec. (c)(2). , substituted “45” for “15”.

Pub. L. 98–369, § 53(b)(4)Subsec. (c)(3). , struck out last sentence which directed that the holding periods determined under the preceding provisions of this paragraph be appropriately reduced (in the manner provided in regulations prescribed by the Secretary) for any period (during such holding periods) in which the taxpayer had an option to sell, was under a contractual obligation to sell, or had made (and not closed) a short sale of, substantially identical stock or securities.

Pub. L. 98–369, § 53(b)(1)Subsec. (c)(3)(B). , substituted “45” for “15”.

Pub. L. 98–369, § 53(b)(2)Subsec. (c)(4). , added par. (4).

Pub. L. 97–2481982—Subsecs. (e), (f). added subsec. (e) and redesignated former subsec. (e) as (f).

Pub. L. 94–455, § 1051(f)(3)1976—Subsec. (a). , struck out references to dividends from corporations organized under the China Trade Act, 1922, and corporations to which section 931 (relating to income from sources within possessions of the United States) applies.

Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (c)(3). , struck out “or his delegate” after “Secretary”.

Pub. L. 92–1781971—Subsecs. (d), (e). added subsec. (d) and redesignated former subsec. (d) as (e).

Pub. L. 91–172, § 512(f)(3)1969—Subsec. (b)(1). , substituted “and 247, and without regard to any capital loss carryback to the taxable year under section 1212(a)(1)” for “and 247”.

Pub. L. 91–172, § 434(b)(1)Subsec. (d). , added subsec. (d).

Pub. L. 88–2721964—Subsec. (b). substituted “243(a)(1), 244(a)” for “243(a), 244” wherever appearing.

Pub. L. 85–866, § 57(c)(2)1958—Subsec. (b)(1). , substituted “243(a)” for “243” wherever appearing.

Pub. L. 85–866, § 18(a)Subsec. (c). , added subsec. (c).

Statutory Notes and Related Subsidiaries

Effective Date of 2017 Amendment

section 11011(d)(2) of Pub. L. 115–97section 11011(e) of Pub. L. 115–97section 62 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

section 13002(c) of Pub. L. 115–97section 13002(f) of Pub. L. 115–97section 243 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

section 13305(b)(1) of Pub. L. 115–97section 13305(c) of Pub. L. 115–97section 74 of this titleAmendment by applicable to taxable years beginning after , except as provided by transition rule, see , set out as a note under .

Pub. L. 115–97section 14101(f) of Pub. L. 115–97section 245A of this titleAmendment by section 14101(b), (c)(1) of applicable to distributions made after , see , set out as an Effective Date note under .

section 14202(b)(2) of Pub. L. 115–97section 14202(c) of Pub. L. 115–97section 172 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Effective Date of 2014 Amendment

Pub. L. 113–295section 247 of this titlePub. L. 113–295section 221(a)(41)(K) of Pub. L. 113–295section 172 of this titleAmendment by not applicable to preferred stock issued before (determined in the same manner as under as in effect before its repeal by ), see , set out as a note under .

section 221(a) of Pub. L. 113–295Pub. L. 113–295section 221(b) of Pub. L. 113–295section 1 of this titleExcept as otherwise provided in , amendment by effective , subject to a savings provision, see , set out as a note under .

Effective Date of 2005 Amendment

Pub. L. 109–135Pub. L. 109–5815 U.S.C. 79section 402(m) of Pub. L. 109–135section 23 of this titleAmendment by effective as if included in the provisions of the Energy Policy Act of 2005, , to which it relates, but not applicable with respect to any transaction ordered in compliance with the Public Utility Holding Company Act of 1935 ( et seq.) before its repeal, see , set out as an Effective and Termination Dates of 2005 Amendments note under .

Effective Date of 2004 Amendments

section 102(d)(4) of Pub. L. 108–357section 102(e) of Pub. L. 108–357section 56 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Pub. L. 108–357, title VIII, § 888(e)118 Stat. 1643

“The amendments made by this section [amending this section and sections 1092 and 1258 of this title] shall apply to positions established on or after the date of the enactment of this Act [].”
, , , provided that:

Pub. L. 108–311Pub. L. 105–34section 406(h) of Pub. L. 108–311section 55 of this titleAmendment by effective as if included in the provisions of the Taxpayer Relief Act of 1997, , to which such amendment relates, see , set out as a note under .

Effective Date of 1997 Amendment

Pub. L. 105–34, title X, § 1015(c)111 Stat. 922

“(1)

In general .—

The amendments made by this section [amending this section] shall apply to dividends received or accrued after the 30th day after the date of the enactment of this Act [].
“(2)

Transitional rule .—

The amendments made by this section shall not apply to dividends received or accrued during the 2-year period beginning on the date of the enactment of this Act if—
“(A)
the dividend is paid with respect to stock held by the taxpayer on , and all times thereafter until the dividend is received,
“(B)
such stock is continuously subject to a position described in section 246(c)(4) of the Internal Revenue Code of 1986 on , and all times thereafter until the dividend is received, and
“(C)
such stock and position are clearly identified in the taxpayer’s records within 30 days after the date of the enactment of this Act.
Stock shall not be treated as meeting the requirement of subparagraph (B) if the position is sold, closed, or otherwise terminated and reestablished.”
, , , provided that:

Effective Date of 1996 Amendment

Pub. L. 104–188section 1616(c) of Pub. L. 104–188section 593 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Effective Date of 1988 Amendment

Pub. L. 100–647Pub. L. 99–514section 1019(a) of Pub. L. 100–647section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .

Effective Date of 1987 Amendment

Pub. L. 100–203section 10221(e)(2) of Pub. L. 100–203section 243 of this titleAmendment by applicable to taxable years beginning after , see , as amended, set out as a note under .

Effective Date of 1986 Amendment

Pub. L. 99–514, title VI, § 611(b)100 Stat. 2249

“(1)

In general .—

The amendments made by subsection (a) [amending this section and sections 243, 244, 246A, and 805 of this title] shall apply to dividends received or accrued after , in taxable years ending after such date.
“(2)

Amendment relating to limitation on deductions .—

The amendment made by subsection (a) to section 246(b) of the Internal Revenue Code of 1986 shall apply to taxable years beginning after .”
, , , provided that:

section 1275(a)(2)(B) of Pub. L. 99–514section 1277 of Pub. L. 99–514section 931 of this titleAmendment by applicable to taxable years beginning after , with certain exceptions and qualifications, see , set out as a note under .

Pub. L. 99–514, title XVIII, § 1804(b)(1)(C)100 Stat. 2798

“The amendments made by this paragraph [amending this section] shall apply to stock acquired after .”
, , , provided that:

section 1812(d)(1) of Pub. L. 99–514Pub. L. 98–369, div. Asection 1881 of Pub. L. 99–514section 48 of this titleAmendment by effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, , to which such amendment relates, see , set out as a note under .

Effective Date of 1984 Amendment

section 53(d)(2) of Pub. L. 98–369section 53(b) of Pub. L. 98–369Pub. L. 98–369section 1059 of this titleAmendment by applicable to distributions after , in taxable years ending after such date, and amendment of subsec. (c) of this section by , applicable to stock acquired after , in taxable years ending after such date, see section 53(e)(1), (2) of , set out as an Effective Date note under .

section 177(b) of Pub. L. 98–369section 177(d) of Pub. L. 98–369section 172 of this titleAmendment by , effective , see , set out as a note under .

section 801(b)(2)(A) of Pub. L. 98–369section 805(a)(1) of Pub. L. 98–369section 245 of this titleAmendment by applicable to transactions after , in taxable years ending after such date, see , as amended, set out as a note under .

Effective Date of 1982 Amendment

Pub. L. 97–248, title II, § 213(e)96 Stat. 466Pub. L. 99–514, § 2100 Stat. 2095

“(1)

In general .—

Except as provided in paragraphs (2) and (3), the amendments made by this section [amending this section and sections 367, 934, and [former] 936 of this title] shall apply to taxable years beginning after .
“(2)

Certain sales made after .—

Paragraph (6) of [former] section 936(h) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954], and so much of section 934 to which such paragraph applies by reason of section 934(e)(4) of such Code, shall apply to taxable years ending after .
“(3)

Certain transfers of intangibles made after .—

section 367 of this titleSubsection (d) [amending ] shall apply to taxable years ending after .”
, , , as amended by , , , provided that:

Effective Date of 1976 Amendment

section 1051(f)(3) of Pub. L. 94–455section 1051(i) of Pub. L. 94–455section 27 of this titleFor effective date of amendment by , see , set out as a note under .

section 1906(b)(13)(A) of Pub. L. 94–455section 1906(d)(1) of Pub. L. 94–455section 6013 of this titleAmendment by effective , see , set out as a note under .

Effective Date of 1971 Amendment

Pub. L. 92–178section 507 of Pub. L. 92–178section 991 of this titleAmendment by applicable with respect to taxable years ending after , except that a corporation may not be a DISC for any taxable year beginning before , see , set out as an Effective Date note under .

Effective Date of 1969 Amendment

section 512(f)(3) of Pub. L. 91–172section 512(g) of Pub. L. 91–172section 1212 of this titleAmendment by applicable with respect to net capital losses sustained in taxable years beginning after , see , set out as a note under .

Pub. L. 91–172, title IV, § 434(c)83 Stat. 625

section 596 of this title“The amendments made by this section [enacting and amending this section] shall apply to taxable years beginning after .”
, , , provided that:

Effective Date of 1964 Amendment

Pub. L. 88–272section 214(c) of Pub. L. 88–272section 243 of this titleAmendment by applicable to dividends received in taxable years ending after , see , set out as a note under .

Effective Date of 1958 Amendment

Pub. L. 85–866, title I, § 18(b)72 Stat. 1615

“The amendment made by subsection (a) [amending this section] shall apply with respect to taxable years ending after , but only with respect to shares of stock acquired or short sales made after .”
, , , provided that:

section 57(c)(2) of Pub. L. 85–866section 57(d) of Pub. L. 85–866section 243 of this titleAmendment by applicable with respect to taxable years beginning after , see , set out as a note under .

Savings Provision

Pub. L. 115–141section 401(e) of Pub. L. 115–141section 23 of this titleFor provisions that nothing in amendment by be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to , for purposes of determining liability for tax for periods ending after , see , set out as a note under .

Plan Amendments Not Required Until January 1, 1989

Pub. L. 99–514section 1140 of Pub. L. 99–514section 401 of this titleFor provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after , see , as amended, set out as a note under .