26 U.S.C. 165: Losses

2017

• Pub. L. 115–97, §11050(a), inserted at end "For purposes of the preceding sentence, in the case of taxable years beginning after December 31, 2017, and before January 1, 2026, the term 'losses from wagering transactions' includes any deduction otherwise allowable under this chapter inc… Law text · (d)
• Pub. L. 115–97, §11044(a), added par. (5). Law text · (h)

2014

• Pub. L. 113–295, §211(c)(1)(C), substituted "Dollar" for "$100" in heading. Law text · (h)
• Pub. L. 113–295, §221(a)(27)(A), redesignated par. (4) as (3) and struck out former par. (3) which related to special rule for losses in federally declared disasters. Law text · (h)
• Pub. L. 113–295, §221(a)(27)(B), substituted "paragraph (2)" for "paragraphs (2) and (3)". Law text · (h)
• Pub. L. 113–295, §221(a)(27)(A), redesignated par. (5) as (4). Former par. (4) redesignated (3). Law text · (h), (5)
• Pub. L. 113–295, §221(a)(27)(C)(i), struck out "(as defined by clause (ii) of subsection (h)(3)(C))" after "disaster area" and "(as defined by clause (i) of such subsection)" after "federally declared disaster". Law text · (i)
• Pub. L. 113–295, §221(a)(27)(C)(ii), struck out "(as defined by subsection (h)(3)(C)(i)" after "federally declared disaster". Law text · (i)
• Pub. L. 113–295, §221(a)(27)(C)(iii), added par. (5). Law text · (i)

2010

• Pub. L. 111–147 struck out "except that clause (iv) of subparagraph (A), and subparagraph (B), of such section shall not apply" before period. (Hiring Incentives to Restore Employment Act) Law text · (j)

2008

• Pub. L. 110–343, §706(c), substituted "$500 ($100 for taxable years beginning after December 31, 2009)" for "$100". (Emergency Economic Stabilization Act of 2008) Law text · (h)
• Pub. L. 110–343, §706(a)(1), added par. (3). Former par. (3) redesignated (4). (Emergency Economic Stabilization Act of 2008) Law text · (h)
• Pub. L. 110–343, §706(a)(1), redesignated par. (3) as (4). Former par. (4) redesignated (5). (Emergency Economic Stabilization Act of 2008) Law text · (h)
• Pub. L. 110–343, §706(a)(2)(A), substituted "paragraphs (2) and (3)" for "paragraph (2)". (Emergency Economic Stabilization Act of 2008) Law text · (h)
• Pub. L. 110–343, §706(a)(1), redesignated par. (4) as (5). (Emergency Economic Stabilization Act of 2008) Law text · (h)
• Pub. L. 110–343, §706(a)(2)(B), substituted "loss occurring in a disaster area (as defined by clause (ii) of subsection (h)(3)(C)) and attributable to a federally declared disaster (as defined by clause (i) of such subsection)" for "loss attributable to a disaster occurring in an ar… (Emergency Economic Stabilization Act of 2008) Law text · (i)
• Pub. L. 110–343, §706(a)(2)(C), substituted "federally declared disaster (as defined by subsection (h)(3)(C)(i)" for "Presidentially declared disaster (as defined by section 1033(h)(3))". (Emergency Economic Stabilization Act of 2008) Law text · (i)

2004

• Pub. L. 108–311 inserted "Robert T. Stafford" before "Disaster Relief and Emergency Assistance Act". (Working Families Tax Relief Act of 2004) Law text · (i), (k)

2000

• Pub. L. 106–554, §1(a)(7) [title III, §318(b)(2)], struck out last sentence of concluding provisions which read as follows: "As used in subparagraph (A), the term 'stock' does not include nonvoting stock which is limited and preferred as to dividends." (Consolidated Appropriations Act, 2001) Law text · (g)
• Pub. L. 106–554, §1(a)(7) [title III, §318(b)(1)], amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "stock possessing at least 80 percent of the voting power of all classes of its stock and at least 80 percent of each class of its nonvoting stock is… (Consolidated Appropriations Act, 2001) Law text · (g)

1997

• Pub. L. 105–34 added par. (4). (Taxpayer Relief Act of 1997) Law text · (i)

1988

• Pub. L. 100–707 substituted "and Emergency Assistance Act" for "Act of 1974". · (i), (k)
• Pub. L. 100–647 added pars. (5) and (6), redesignated former par. (6) as (7), and struck out former par. (5) which read as follows: "Election.—Any election by the taxpayer under this subsection may be revoked only with the consent of the Secretary and shall apply to all losse… · (l)

1986

• Pub. L. 99–514, §1004(a), added subpar. (E). · (h)
• Pub. L. 99–514, §905(a), added subsec. (l) and redesignated former subsec. (l) as (m). · (l), (m)

1984

• Pub. L. 98–369, §711(c)(2)(A)(i), extended limitation to losses of property not connected with a transaction entered into for profit. · (c)
• Pub. L. 98–369, §711(c)(2)(A)(ii), substituted heading "Treatment of casualty gains and losses" for "Casualty and theft losses"; substituted par. (1) "$100 limitation per casualty" provision for former par. (1) "General rule" provision stating that: "Any loss of an individual described… · (h)
• Pub. L. 98–369, §711(c)(1), amended par. (2) by redesignating subpar. (B) as (C) and by adding a new subpar. (B) relating to the determination of adjusted gross income in case of estates and trusts. · (h)
• Pub. L. 98–369, §42(a)(4), substituted "section 1287" for "subsection (d) of section 1232". · (j)
• Pub. L. 98–369, §1051(a), added subsec. (k) and redesignated former subsec. (k) as (l). · (k), (l)

1982

• Pub. L. 97–248, §203(b), inserted "except as provided in subsection (h)," before "losses of property" and struck out provisions that a loss described in this paragraph would be allowed only to the extent that the amount of loss to such individual arising from each casualty, or from … · (c)
• Pub. L. 97–248, §203(a), added subsec. (h) relating to casualty and theft losses. Former subsec. (h), relating to disaster losses, redesignated (i). · (h)
• Pub. L. 97–248, §203(a), redesignated former subsec. (h), relating to disaster losses, as (i), in subsec. (i), as so redesignated, further redesignated existing unnumbered provisions as pars. (1) and (2), in par. (1), as so redesignated, substituted "be taken into account for the taxab… · (i)
• Pub. L. 97–248, §310(b)(5), added subsec. (j) relating to denial of deduction for losses on certain obligations not in registered form. Former subsec. (j), setting forth cross references, redesignated (k). · (j)
• Pub. L. 97–248, §203(a), redesignated former subsec. (i), setting forth cross references, as (j). · (j)
• Pub. L. 97–248, §310(b)(5), redesignated former subsec. (j), setting forth cross references, as (k). · (k)

1976

• Pub. L. 94–455 redesignated subsec. (j) as subsec. (i). Former subsec. (i), which related to property confiscated by Cuba, was struck out. · (i), (j)

1974

• Pub. L. 93–288 substituted "Disaster Relief Act of 1974" for "Disaster Relief Act of 1970". · (h)

1972

• Pub. L. 92–418 struck out par. (1) provisions relating to losses attributable to a disaster occurring during period following close of taxable year and on or before time prescribed by law for filing the income tax return for the taxable year without regard to any extension of time, str… · (h)
• Pub. L. 92–336 substituted provisions relating to losses attributable to a disaster which occurs during the period after the close of the taxable year and on or before the last day of the 6th calendar month beginning after the close of the taxable year, for provisions relating to lo… · (h)

1971

• Pub. L. 91–687 substituted "stock possessing at least 80 percent of the voting power of all classes of its stock and at least 80 percent of each class of its nonvoting stock" for "at least 95 percent of each class of its stock" in subpar. (A), and inserted at the end of the subsecti… · (g)
• Pub. L. 91–677, §1(a)(1), (2), struck out "or (2)" after "paragraph (1)" in cl. (B), and substituted "one or more days in the period beginning on December 31, 1958, and ending on May 16, 1959" for "December 31, 1958". · (i)
• Pub. L. 91–677, §1(a)(3), substituted "one or more days during the period beginning on December 31, 1958, and ending on May 16, 1959" for "December 31, 1958" and "the first day in such period on which the property was held by the taxpayer" for "December 31, 1958". · (i)
• Pub. L. 91–677, §1(a)(4), struck out subsec. (i)(3) which authorized a refund or credit to be given for any overpayment attributable to the application of par. (1), provided that a claim was filed for such refund or credit before Jan. 1, 1965. · (i)

1970

• Pub. L. 91–606 substituted "the Disaster Relief Act of 1970" for "sections 1855–1855g of title 42". · (h)

1964

• Pub. L. 88–272, §208(a), inserted requirement that losses must exceed $100 to be deductible. · (c)
• Pub. L. 88–348 designated existing provisions as par. (1), substituted provisions permitting individuals who were citizens of the United States or resident aliens on Dec. 31, 1958, who sustained any loss of property prior to Jan. 1, 1964, and which was not a loss described in par. (1) … · (i)
• Pub. L. 88–272, §238, added subsec. (i). Former subsec. (i) redesignated (j). · (i)
• Pub. L. 88–272, §238, redesignated former subsec. (i) as (j). · (j)

1962

• Pub. L. 87–426 added subsec. (h) and redesignated former subsec. (h) as (i). · (h), (i)

1958

• Pub. L. 85–866, §7, substituted "rental of" for "rental from". · (g)
• Pub. L. 85–866, §57(c)(1), added pars. (3) and (4). · (h), (4)
• Pub. L. 85–866, §202(a), added par. (5). · (h)