Internal Revenue Code · 26 U.S.C.
§ 108. Income from discharge of indebtedness
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 108
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- June 8, 1960 by Pub. L. 88–496
- Last amended
- July 4, 2025 by Pub. L. 119–21
- Amendments
- 27 dated changes in the source credit
- Length
- 9 subsections · 5,937 words · about 26 min to read
- Defines
- 18 terms
- Cross-references
- cites 30; cited by 8 Code sections and 26 other regulations
- Regulations
- 12 issued under this section
Subparagraphs (B), (C), (D), and (E) of paragraph (1) shall not apply to a discharge which occurs in a title 11 case.
Subparagraphs (C) and (D) of paragraph (1) shall not apply to a discharge to the extent the taxpayer is insolvent.
Paragraph (1)(B) shall not apply to a discharge to which paragraph (1)(E) applies unless the taxpayer elects to apply paragraph (1)(B) in lieu of paragraph (1)(E).
In the case of a discharge to which paragraph (1)(B) applies, the amount excluded under paragraph (1)(B) shall not exceed the amount by which the taxpayer is insolvent.
Any net operating loss for the taxable year of the discharge, and any net operating loss carryover to such taxable year.
Any carryover to or from the taxable year of a discharge of an amount for purposes for determining the amount allowable as a credit under section 38 (relating to general business credit).
The amount of the minimum tax credit available under section 53(b) as of the beginning of the taxable year immediately following the taxable year of the discharge.
Any net capital loss for the taxable year of the discharge, and any capital loss carryover to such taxable year under section 1212.
For provisions for making the reduction described in clause (i), see section 1017.
Any passive activity loss or credit carryover of the taxpayer under section 469(b) from the taxable year of the discharge.
Any carryover to or from the taxable year of the discharge for purposes of determining the amount of the credit allowable under section 27.
The reductions described in subparagraphs (B), (C), and (G) shall be 33⅓ cents for each dollar excluded by subsection (a). The reduction described in subparagraph (F) in any passive activity credit carryover shall be 33⅓ cents for each dollar excluded by subsection (a).
The reductions described in paragraph (2) shall be made after the determination of the tax imposed by this chapter for the taxable year of the discharge.
The reductions described in subparagraph (A) or (D) of paragraph (2) (as the case may be) shall be made first in the loss for the taxable year of the discharge and then in the carryovers to such taxable year in the order of the taxable years from which each such carryover arose.
The reductions described in subparagraphs (B) and (G) of paragraph (2) shall be made in the order in which carryovers are taken into account under this chapter for the taxable year of the discharge.
The taxpayer may elect to apply any portion of the reduction referred to in paragraph (1) to the reduction under section 1017 of the basis of the depreciable property of the taxpayer.
The amount to which an election under subparagraph (A) applies shall not exceed the aggregate adjusted bases of the depreciable property held by the taxpayer as of the beginning of the taxable year following the taxable year in which the discharge occurs.
Paragraph (2) shall not apply to any amount to which an election under this paragraph applies.
For provisions making the reduction described in subparagraph (A), see section 1017.
The amount excluded under subparagraph (D) of subsection (a)(1) shall not exceed the aggregate adjusted bases of depreciable real property (determined after any reductions under subsections (b) and (g)) held by the taxpayer immediately before the discharge (other than depreciable real property acquired in contemplation of such discharge).
For purposes of paragraph (3)(B), the term “qualified acquisition indebtedness” means, with respect to any real property described in paragraph (3)(A), indebtedness incurred or assumed to acquire, construct, reconstruct, or substantially improve such property.
The Secretary shall issue such regulations as are necessary to carry out this subsection, including regulations preventing the abuse of this subsection through cross-collateralization or other means.
For purposes of this section, the term “title 11 case” means a case under title 11 of the United States Code (relating to bankruptcy), but only if the taxpayer is under the jurisdiction of the court in such case and the discharge of indebtedness is granted by the court or is pursuant to a plan approved by the court.
For purposes of this section, the term “insolvent” means the excess of liabilities over the fair market value of assets. With respect to any discharge, whether or not the taxpayer is insolvent, and the amount by which the taxpayer is insolvent, shall be determined on the basis of the taxpayer’s assets and liabilities immediately before the discharge.
The term “depreciable property” has the same meaning as when used in section 1017.
In the case of an S corporation, subsections (a), (b), (c), and (g) shall be applied at the corporate level, including by not taking into account under section 1366(a) any amount excluded under subsection (a) of this section.
In the case of an S corporation, for purposes of subparagraph (A) of subsection (b)(2), any loss or deduction which is disallowed for the taxable year of the discharge under section 1366(d)(1) shall be treated as a net operating loss for such taxable year. The preceding sentence shall not apply to any discharge to the extent that subsection (a)(1)(D) applies to such discharge.
For purposes of subsection (e)(6), a shareholder’s adjusted basis in indebtedness of an S corporation shall be determined without regard to any adjustments made under section 1367(b)(2).
In any case under chapter 7 or 11 of title 11 of the United States Code to which section 1398 applies, for purposes of paragraphs (1) and (5) of subsection (b) the estate (and not the individual) shall be treated as the taxpayer. The preceding sentence shall not apply for purposes of applying section 1017 to property transferred by the estate to the individual.
An election referred to in subparagraph (A), once made, may be revoked only with the consent of the Secretary.
An election referred to in subparagraph (A) shall be made in such manner as the Secretary may by regulations prescribe.
For provision that no reduction is to be made in the basis of exempt property of an individual debtor, see section 1017(c)(1).
Except as otherwise provided in this section, there shall be no insolvency exception from the general rule that gross income includes income from the discharge of indebtedness.
No income shall be realized from the discharge of indebtedness to the extent that payment of the liability would have given rise to a deduction.
The amount taken into account with respect to any discharge shall be properly adjusted for unamortized premium and unamortized discount with respect to the indebtedness discharged.
For purposes of determining income of the debtor from discharge of indebtedness, to the extent provided in regulations prescribed by the Secretary, the acquisition of outstanding indebtedness by a person bearing a relationship to the debtor specified in section 267(b) or 707(b)(1) from a person who does not bear such a relationship to the debtor shall be treated as the acquisition of such indebtedness by the debtor. Such regulations shall provide for such adjustments in the treatment of any subsequent transactions involving the indebtedness as may be appropriate by reason of the application of the preceding sentence.
For purposes of this paragraph, sections 267(b) and 707(b)(1) shall be applied as if section 267(c)(4) provided that the family of an individual consists of the individual’s spouse, the individual’s children, grandchildren, and parents, and any spouse of the individual’s children or grandchildren.
For purposes of this paragraph, two entities which are treated as a single employer under subsection (b) or (c) of section 414 shall be treated as bearing a relationship to each other which is described in section 267(b).
In the case of any creditor who computes his taxable income under the cash receipts and disbursements method, proper adjustment shall be made in the amount taken into account under clause (ii) of subparagraph (A) for any amount which was not included in the creditor’s gross income but which would have been included in such gross income if such indebtedness had been satisfied in full.
For purposes of this paragraph, stock of a corporation in control (within the meaning of section 368(c)) of the debtor corporation shall be treated as stock of the debtor corporation.
For purposes of this paragraph, the term “debtor corporation” includes a successor corporation.
Under regulations prescribed by the Secretary, rules similar to the rules of the foregoing subparagraphs of this paragraph shall apply with respect to the indebtedness of a partnership.
Any amount included in gross income by reason of the discharge of indebtedness shall not be taken into account for purposes of paragraphs (2) and (3) of section 856(c).
For purposes of determining income of a debtor from discharge of indebtedness, if a debtor issues a debt instrument in satisfaction of indebtedness, such debtor shall be treated as having satisfied the indebtedness with an amount of money equal to the issue price of such debt instrument.
For purposes of subparagraph (A), the issue price of any debt instrument shall be determined under sections 1273 and 1274. For purposes of the preceding sentence, section 1273(b)(4) shall be applied by reducing the stated redemption price of any instrument by the portion of such stated redemption price which is treated as interest for purposes of this chapter.
In the case of an individual, gross income does not include any amount which (but for this subsection) would be includible in gross income by reason of the discharge (in whole or in part) of any student loan if such discharge was pursuant to a provision of such loan under which all or part of the indebtedness of the individual would be discharged if the individual worked for a certain period of time in certain professions for any of a broad class of employers.
Paragraph (1) shall not apply to the discharge of a loan made by an organization described in paragraph (2)(D) if the discharge is on account of services performed for either such organization.
In the case of an individual, gross income shall not include any amount received under section 338B(g) of the Public Health Service Act, under a State program described in section 338I of such Act, or under any other State loan repayment or loan forgiveness program that is intended to provide for the increased availability of health care services in underserved or health professional shortage areas (as determined by such State).
Subparagraph (A) shall not apply with respect to any discharge during any taxable year unless the taxpayer includes the taxpayer’s social security number on the return of tax for such taxable year.
For purposes of this subparagraph, the term “social security number” has the meaning given such term in section 24(h)(7).
For purposes of subparagraph (A), the term “qualified person” has the meaning given to such term by section 49(a)(1)(D)(iv); except that such term shall include any Federal, State, or local government or agency or instrumentality thereof.
For purposes of subparagraph (A), the term “adjusted tax attributes” means the sum of the tax attributes described in subparagraphs (A), (B), (C), (D), (F), and (G) of subsection (b)(2) determined by taking into account $3 for each $1 of the attributes described in subparagraphs (B), (C), and (G) of subsection (b)(2) and the attribute described in subparagraph (F) of subsection (b)(2) to the extent attributable to any passive activity credit carryover.
For purposes of this paragraph, the term “qualified property” means any property which is used or is held for use in a trade or business or for the production of income.
For purposes of this paragraph, the adjusted basis of any qualified property and the amount of the adjusted tax attributes shall be determined after any reduction under subsection (b) by reason of amounts excluded from gross income under subsection (a)(1)(B).
For purposes of this section, the term “qualified principal residence indebtedness” means acquisition indebtedness (within the meaning of section 163(h)(3)(B), applied by substituting “$750,000 ($375,000” for “$1,000,000 ($500,000” in clause (ii) thereof and determined without regard to the substitution described in section 163(h)(3)(F)(i)(II)) with respect to the principal residence of the taxpayer.
Subsection (a)(1)(E) shall not apply to the discharge of a loan if the discharge is on account of services performed for the lender or any other factor not directly related to a decline in the value of the residence or to the financial condition of the taxpayer.
If any loan is discharged, in whole or in part, and only a portion of such loan is qualified principal residence indebtedness, subsection (a)(1)(E) shall apply only to so much of the amount discharged as exceeds the amount of the loan (as determined immediately before such discharge) which is not qualified principal residence indebtedness.
For purposes of this subsection, the term “principal residence” has the same meaning as when used in section 121.
For purposes of subparagraph (A), if any debt instrument is issued by an issuer and the proceeds of such debt instrument are used directly or indirectly by the issuer to reacquire an applicable debt instrument of the issuer, the debt instrument so issued shall be treated as issued for the debt instrument being reacquired. If only a portion of the proceeds from a debt instrument are so used, the rules of subparagraph (A) shall apply to the portion of any original issue discount on the newly issued debt instrument which is equal to the portion of the proceeds from such instrument used to reacquire the outstanding instrument.
The term “debt instrument” means a bond, debenture, note, certificate, or any other instrument or contractual arrangement constituting indebtedness (within the meaning of section 1275(a)(1)).
The term “acquisition” shall, with respect to any applicable debt instrument, include an acquisition of the debt instrument for cash, the exchange of the debt instrument for another debt instrument (including an exchange resulting from a modification of the debt instrument), the exchange of the debt instrument for corporate stock or a partnership interest, and the contribution of the debt instrument to capital. Such term shall also include the complete forgiveness of the indebtedness by the holder of the debt instrument.
In the case of a partnership, S corporation, or other pass-thru entity, the election under this subsection shall be made by the partnership, the S corporation, or other entity involved.
If a taxpayer elects to have this subsection apply to an applicable debt instrument, subparagraphs (A), (B), (C), and (D) of subsection (a)(1) shall not apply to the income from the discharge of such indebtedness for the taxable year of the election or any subsequent taxable year.
In the case of the death of the taxpayer, the liquidation or sale of substantially all the assets of the taxpayer (including in a title 11 or similar case), the cessation of business by the taxpayer, or similar circumstances, any item of income or deduction which is deferred under this subsection (and has not previously been taken into account) shall be taken into account in the taxable year in which such event occurs (or in the case of a title 11 or similar case, the day before the petition is filed).
The rule of clause (i) shall also apply in the case of the sale or exchange or redemption of an interest in a partnership, S corporation, or other pass-thru entity by a partner, shareholder, or other person holding an ownership interest in such entity.
In the case of a partnership, any income deferred under this subsection shall be allocated to the partners in the partnership immediately before the discharge in the manner such amounts would have been included in the distributive shares of such partners under section 704 if such income were recognized at such time. Any decrease in a partner’s share of partnership liabilities as a result of such discharge shall not be taken into account for purposes of section 752 at the time of the discharge to the extent it would cause the partner to recognize gain under section 731. Any decrease in partnership liabilities deferred under the preceding sentence shall be taken into account by such partner at the same time, and to the extent remaining in the same amount, as income deferred under this subsection is recognized.
(Aug. 16, 1954, ch. 736, 68A Stat. 32; June 29, 1956, ch. 463, § 5, 70 Stat. 403; Pub. L. 88–496, § 1(a), June 8, 1960, 74 Stat. 164; Pub. L. 94–455, title XIX, §§ 1906(b)(13)(A), 1951(b)(2)(A), Oct. 4, 1976, 90 Stat. 1834, 1836; Pub. L. 96–589, § 2(a), Dec. 24, 1980, 94 Stat. 3389; Pub. L. 97–354, § 3(e), Oct. 19, 1982, 96 Stat. 1689; Pub. L. 97–448, title I, § 102(h)(1), title III, § 304(d), Jan. 12, 1983, 96 Stat. 2372, 2398; Pub. L. 98–369, div. A, title I, § 59(a), (b)(1), title IV, § 474(r)(5), title VII, § 721(b)(2), title X, § 1076(a), July 18, 1984, 98 Stat. 576, 839, 966, 1053; Pub. L. 99–514, title I, § 104(b)(2), title II, § 231(d)(3)(D), title IV, § 405(a), title VI, § 621(e)(1), title VIII, §§ 805(c)(2)–(4), 822(a), (b)(1)–(3), title XI, § 1171(b)(4), title XVIII, § 1847(b)(7), Oct. 22, 1986, 100 Stat. 2105, 2179, 2224, 2266, 2362, 2373, 2513, 2856; Pub. L. 100–647, title I, § 1004(a)(1)–(4), (6), Nov. 10, 1988, 102 Stat. 3385, 3387; Pub. L. 101–508, title XI, §§ 11325(a)(1), (b), 11813(b)(6), Nov. 5, 1990, 104 Stat. 1388–466, 1388–551; Pub. L. 103–66, title XIII, §§ 13150(a)–(c)(5), 13226(a)(1), (2)(B), (b)(1)–(3), Aug. 10, 1993, 107 Stat. 446–448, 487, 488; Pub. L. 104–188, title I, § 1703(n)(2), Aug. 20, 1996, 110 Stat. 1877; Pub. L. 105–34, title II, § 225(a), Aug. 5, 1997, 111 Stat. 820; Pub. L. 105–206, title VI, § 6004(f), July 22, 1998, 112 Stat. 795; Pub. L. 107–147, title IV, § 402(a), Mar. 9, 2002, 116 Stat. 40; Pub. L. 108–357, title III, § 320(a), title VIII, § 896(a), Oct. 22, 2004, 118 Stat. 1473, 1648; Pub. L. 110–142, § 2(a)–(c), Dec. 20, 2007, 121 Stat. 1803, 1804; Pub. L. 110–343, div. A, title III, § 303(a), Oct. 3, 2008, 122 Stat. 3807; Pub. L. 111–5, div. B, title I, § 1231(a), Feb. 17, 2009, 123 Stat. 338; Pub. L. 111–148, title X, § 10908(a), Mar. 23, 2010, 124 Stat. 1021; Pub. L. 112–240, title II, § 202(a), Jan. 2, 2013, 126 Stat. 2323; Pub. L. 113–295, div. A, title I, § 102(a), Dec. 19, 2014, 128 Stat. 4013; Pub. L. 114–113, div. Q, title I, § 151(a), (b), Dec. 18, 2015, 129 Stat. 3065; Pub. L. 115–97, title I, § 11031(a), Dec. 22, 2017, 131 Stat. 2081; Pub. L. 115–123, div. D, title I, § 40201(a), Feb. 9, 2018, 132 Stat. 145; Pub. L. 116–94, div. Q, title I, § 101(a), (b), Dec. 20, 2019, 133 Stat. 3227; Pub. L. 116–260, div. EE, title I, § 114(a), (b), Dec. 27, 2020, 134 Stat. 3050; Pub. L. 117–2, title IX, § 9675(a), Mar. 11, 2021, 135 Stat. 185; Pub. L. 119–21, title VII, § 70119(a), July 4, 2025, 139 Stat. 168.)
Terms defined here
Where the text says “the term … means”. Select a term to jump to its definition.
- adjusted tax attributes § 108(g)(3)(B)
- applicable debt instrument § 108(i)(3)(A)
- debt instrument § 108(i)(3)(B)
- debtor corporation § 108(e)(7)(D)
- depreciable property § 108(d)(5)
- indebtedness of the taxpayer § 108(d)(1)
- insolvent § 108(d)(3)
- principal residence § 108(h)(5)
- qualified acquisition indebtedness § 108(c)(4)
- qualified person § 108(g)(1)(B)
- qualified principal residence indebtedness § 108(h)(2)
- qualified property § 108(g)(3)(C)
- qualified real property business indebtedness § 108(c)(3)
- reacquisition § 108(i)(4)(A)
- social security number § 108(f)(5)(C)(ii)
- student loan § 108(f)(2)
- student loan § 108(f)(2)(D)(ii)
- title 11 case § 108(d)(2)
Regulations under this section
Treasury regulations (26 CFR) issued under § 108
- § 1.108-2 Acquisition of indebtedness by a person related to the debtor.
- § 1.108-3 Intercompany losses and deductions.
- § 1.108-4 Election to reduce basis of depreciable property under section 108(b)(5) of the Internal Revenue Code .
- § 1.108-5 Time and manner for making election under the Omnibus Budget Reconciliation Act of 1993.
- § 1.108-6 Limitations on the exclusion of income from the discharge of qualified real property business indebtedness.
- § 1.108-7 Reduction of attributes.
- § 1.108-8 Indebtedness satisfied by partnership interest.
- § 1.108-9 Application of the bankruptcy and the insolvency provisions of section 108 to grantor trusts and disregarded entities.
- § 1.108(i)-0 Definitions and effective/applicability dates.
- § 1.108(i)-1 Deferred discharge of indebtedness income and deferred original issue discount deductions of C corporations.
- § 1.108(i)-2 Application of section 108(i) to partnerships and S corporations.
- § 1.108(i)-3 Rules for the deduction of OID.
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 30 other sections
- § 38 General business credit
- § 53(b) Credit for prior year minimum tax liability
- § 1212 Capital loss carrybacks and carryovers
- § 1017 Discharge of indebtedness
- § 469(b) Passive activity losses and credits limited
- § 27 Taxes of foreign countries and possessions of the United States
- § 1366(a) Pass-thru of items to shareholders
- § 1367(b)(2) Adjustments to basis of stock of shareholders, etc.
- § 1398 Rules relating to individuals’ title 11 cases
- § 267(b) Losses, expenses, and interest with respect to transactions between related taxpayers
- § 707(b)(1) Transactions between partner and partnership
- § 414 Definitions and special rules
- § 118 Contributions to the capital of a corporation
- § 1245 Gain from dispositions of certain depreciable property
- § 166 Bad debts
- § 354(a) Exchanges of stock and securities in certain reorganizations
- § 368(c) Definitions relating to corporate reorganizations
- § 856(c) Definition of real estate investment trust
- § 1273 Determination of amount of original issue discount
- § 1274 Determination of issue price in the case of certain debt instruments issued for property
- § 170(b)(1)(A)(ii) Charitable, etc., contributions and gifts
- § 501(c)(3) Exemption from tax on corporations, certain trusts, etc.
- § 24(h)(7) Child tax credit
- § 49(a)(1)(D)(iv) At-risk rules
Show 6 more
Cited by 8 Code sections
- § 118(e)(2) Contributions to the capital of a corporation
- § 147(c)(2)(C)(iii) Other requirements applicable to certain private activity bonds
- § 163(e)(5)(F)(i) Interest
- § 382(l)(5)(C) Limitation on net operating loss carryforwards and certain built-in losses following ownership change
- § 703(b)(1) Partnership computations
- § 1017(a)(1) Discharge of indebtedness
- § 1503(e)(1)(B) Computation and payment of tax
- § 6213(g)(2)(X) Restrictions applicable to deficiencies; petition to Tax Court
Cited in 26 regulations not issued under it
- § 1.56(g)-1 Adjusted current earnings.
- § 1.61-12 Income from discharge of indebtedness.
- § 1.168(k)-1 Additional first year depreciation deduction.
- § 1.168(k)-2 Additional first year depreciation deduction for property acquired and placed in service after September 27, 2017.
- § 1.221-1 Deduction for interest paid on qualified education loans after December 31, 2001.
- § 1.221-2 Deduction for interest due and paid on qualified education loans before January 1, 2002.
- § 1.338-1 General principles; status of old target and new target.
- § 1.338-4 Aggregate deemed sale price; various aspects of taxation of the deemed asset sale.
- § 1.338-5 Adjusted grossed-up basis.
- § 1.385-1 General provisions.
- § 1.472-2 Requirements incident to adoption and use of LIFO inventory method.
- § 1.706-4 Determination of distributive share when a partner's interest varies.
- § 1.988-2 Recognition and computation of exchange gain or loss.
- § 1.1001-2 Discharge of liabilities.
- § 1.1017-1 Basis reductions following a discharge of indebtedness.
- § 1.1366-1 Shareholder's share of items of an S corporation.
- § 1.1502-11 Consolidated taxable income.
- § 1.1502-13 Intercompany transactions.
- § 1.1502-19 Excess loss accounts.
- § 1.1502-21 Net operating losses.
- § 1.1502-28 Consolidated section 108.
- § 1.1502-32 Investment adjustments.
- § 1.1502-36 Unified loss rule.
- § 1.1502-76 Taxable year of members of group.
Amendment history
From the source credit and the official notes, newest first.
- Amended by Pub. L. 119–21Parts changed in 2025: (f)(5)
- Amended by Pub. L. 117–2Parts changed in 2021: (f)(5)
- Amended by Pub. L. 116–260Parts changed in 2020: (a)(1)(E) (h)(2)
- Amended by Pub. L. 116–94Parts changed in 2019: (a)(1)(E) (h)(2)
- Amended by Pub. L. 115–123Parts changed in 2018: (a)(1)(E)
- Amended by Pub. L. 115–97Parts changed in 2017: (f)(5)
- Amended by Pub. L. 114–113Parts changed in 2015: (a)(1)(E)
- Amended by Pub. L. 113–295Parts changed in 2014: (a)(1)(E)
- Amended by Pub. L. 112–240Parts changed in 2013: (a)(1)(E)
- Amended by Pub. L. 111–148Parts changed in 2010: (f)(4)
- Amended by Pub. L. 111–5Parts changed in 2009: (i)
- Amended by Pub. L. 110–343Parts changed in 2008: (a)(1)(E)
- Amended by Pub. L. 110–142Parts changed in 2007: (a)(1)(E) (a)(2)(A) (a)(2)(C) (h)
- Amended by Pub. L. 108–357Parts changed in 2004: (e)(8) (f)(4)
- Amended by Pub. L. 107–147Parts changed in 2002: (d)(7)(A)
- Amended by Pub. L. 105–206Parts changed in 1998: (f)(2) (f)(3)
- Amended by Pub. L. 105–34Parts changed in 1997: (f)(2) (f)(2)(B) (f)(3)
- Amended by Pub. L. 104–188Parts changed in 1996: (d)(9)(A)
- Amended by Pub. L. 103–66Parts changed in 1993: (a)(1)(D) (a)(2)(A) (a)(2)(B) (b)(2)(C) (b)(2)(F) (b)(2)(G) (b)(3)(B) (b)(4)(B) (b)(4)(C) (c) (d) (d)(6) (d)(7)(B) (d)(9)(A) (e)(6) (e)(8) (e)(10) (g)(3)(B)
- Amended by Pub. L. 101–508Parts changed in 1990: (e)(8) (e)(10)(B) (e)(11) (g)(1)(B)
- Amended by Pub. L. 100–647Parts changed in 1988: (a)(1)(C) (a)(2) (b) (d) (d)(6) (d)(7)(A) (g)
- Amended by Pub. L. 99–514Parts changed in 1986: (a)(1)(C) (a)(2) (b)(2)(B) (b)(2)(E) (b)(3) (c) (d) (d)(4) (d)(6) (d)(7)(B) (d)(9)(A) (e)(7)(A)(ii)(I) (e)(7)(B) (e)(7)(E) (e)(10)(C) (g)
- Amended by Pub. L. 98–369Parts changed in 1984: (b)(2)(B) (d)(6) (d)(7) (e)(10) (e)(10)(C) (f)
- Amended by Pub. L. 97–448Parts changed in 1983: (b)(2)(B)(v) (e)(7)(A)(iii)
- Amended by Pub. L. 97–354Parts changed in 1982: (d)(6)
- Amended by Pub. L. 96–589
- Amended by Pub. L. 94–455
- Enacted by Pub. L. 88–496Parts changed in 1960: (b)
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter B Computation of Taxable Income
- Part III ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME
Nearby sections
- § 104 Compensation for injuries or sickness
- § 105 Amounts received under accident and health plans
- § 106 Contributions by employer to accident and health plans
- § 107 Rental value of parsonages
- § 108 Income from discharge of indebtedness
- § 109 Improvements by lessee on lessor’s property
- § 110 Qualified lessee construction allowances for short-term leases
- § 111 Recovery of tax benefit items
- § 112 Certain combat zone compensation of members of the Armed Forces
Official notes
The Law Revision Counsel's notes for this section (amendments, effective dates and related laws) are long, so they have their own page.