26 U.S.C. 642: Special rules for credits and deductions

2018

• Pub. L. 115–141 substituted "other than" for "other then". (Consolidated Appropriations Act, 2018) Law text · (c)

2017

• Pub. L. 115–97 added cl. (iii). Law text · (b)

2014

• Pub. L. 113–295 substituted "section 68(b)(1)(C)" for "section 151(d)(3)(C)(iii)". Law text · (b)

2002

• Pub. L. 107–134 reenacted heading without change and amended text of subsec. (b) generally. Prior to amendment, text read as follows: "An estate shall be allowed a deduction of $600. A trust which, under its governing instrument, is required to distribute all of its income currently sh… (Victims of Terrorism Tax Relief Act of 2001) Law text · (b)

1996

• Pub. L. 104–188 substituted "under section 2621(a)(2)" for "under 2621(a)(2)". (Small Business Job Protection Act of 1996) Law text · (g)

1993

• Pub. L. 103–66, §13113(d)(2), amended heading and text of par. (4) generally. Prior to amendment, text read as follows: "In the case of a trust, the deduction allowed by this subsection shall be subject to section 681 (relating to unrelated business income)." · (c)
• Pub. L. 103–66, §13261(f)(2), substituted "sections 169 and 197" for "section 169". · (f)

1990

• Pub. L. 101–508, §11812(b)(9), substituted "167(d)" for "167(h)". · (e)
• Pub. L. 101–508, §11801(c)(6)(B), substituted "section 169" for "sections 169, 184, 187, and 188". · (f)

1989

• Pub. L. 101–239 inserted after first sentence "Rules similar to the rules of the preceding sentence shall apply to amounts which may be taken into account under 2621(a)(2) or 2622(b)." · (g)

1986

• Pub. L. 99–514, §112(b)(2), amended subsec. (a) generally, substituting "Foreign tax credit allowed" for "Credits against tax" in heading, striking out designation and heading for par. (1), and striking out par. (2) which read as follows: "An estate or trust shall not be allowed the cr… · (a)
• Pub. L. 99–514, §301(b)(6), in heading, substituted "Coordination with section 681" for "Adjustments", and in text struck out first sentence which read as follows: "To the extent that the amount otherwise allowable as a deduction under this subsection consists of gain from the sale … · (c)
• Pub. L. 99–514, §612(b)(3), struck out subsec. (j) which provided a cross reference to section 116(c)(3). · (j)

1984

• Pub. L. 98–369, §474(r)(17), substituted "section 24" for "section 41". · (a)
• Pub. L. 98–369, §1001(b)(8), (e), substituted "6 months" for "1 year", applicable to property acquired after June 22, 1984, and before Jan. 1, 1988. See Effective Date of 1984 Amendment note below. · (c), (4)

1981

• Pub. L. 97–34 substituted "and 188" for "188, and 191". · (f)

1978

• Pub. L. 95–600 redesignated subsecs. (j) and (k) as (i) and (j), respectively. Former subsec. (i), which did not allow estates or trusts the deduction for contributions to candidates for public office provided by section 218, was struck out. · (i), (j), (k)

1977

• Pub. L. 95–30 struck out par. (1) which made a cross reference to section 142(b)(4) for disallowance of the standard deduction in the case of estates and trusts and struck out "(2)" at beginning of single remaining cross reference. · (k)

1976

• Pub. L. 94–455, §1901(b)(1)(H)(i), redesignated former pars. (2) and (3) as (1) and (2), respectively. Former par. (1), relating to the credit against tax for partially tax-exempt interest, was struck out. · (a)
• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (c)
• Pub. L. 94–455, §1402(b)(2), provided that "9 months" would be changed to "1 year". · (c), (4)
• Pub. L. 94–455, §1402(b)(1)(J), provided that "6 months" would be changed to "9 months" for taxable years beginning in 1977. · (c), (4)
• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (c), (d)
• Pub. L. 94–455, §§1906(b)(13)(A), 1951(c)(2)(B), 2124(a)(3)(B), substituted "sections 169, 184, 187, 188, and 191" for "sections 168, 169, 184, 187, and 188", and struck out "or his delegate" after "Secretary". · (f)
• Pub. L. 94–455, §§1906(b)(13)(A), 2009(d), inserted "(or as an offset against the sales price of property in determining gain or loss)" after "shall not be allowed as a deduction", and struck out "or his delegate" after "Secretary". · (g)
• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (h)
• Pub. L. 94–528 added subsec. (j) and redesignated former subsec. (j) as (k). · (j), (k)

1971

• Pub. L. 92–178, §701(b), added par. (3). · (a)
• Pub. L. 92–178, §303(c)(4), inserted reference to section 188. · (f)
• Pub. L. 92–178, §702(b), added subsec. (i) and redesignated former subsec. (i) as (j). · (i), (j)

1969

• Pub. L. 91–172, §201(b), designated existing provisions, with minor changes, as par. (1) and added pars. (2) to (6). · (c)
• Pub. L. 91–172, §704(b)(2), struck out reference to emergency or grain storage facilities both in heading and in text, and inserted reference to sections 184 and 187 in text. · (f)

1966

• Pub. L. 89–621 inserted "or of any other person" after "shall not be allowed as a deduction in computing the taxable income of the estate". · (g)

1964

• Pub. L. 88–272, §201(d)(6)(A), struck out par. (3) which related to dividends received by individuals. · (a)
• Pub. L. 88–272, §201(d)(6)(B), designated existing provisions as par. (1) and added par. (2). · (i)

1962

• Pub. L. 87–834 substituted a reference to section 167(h) for a reference to section 167(g). · (e)