Annual edition
Subsec. (b)(1). Pub. L. 105–277 amended heading and text of par. (1) generally. Prior to amendment, text read as follows: “The deduction for losses allowed by section 165(c)(3), but only if the loss is of property located within the United States.”
Source credit
Pub. L. 105–277, div. J, title IV, § 4004(b)(3), Oct. 21, 1998, 112 Stat. 2681–911.
Annual edition
Subsec. (b)(1). Pub. L. 98–369 substituted “for losses” for “, for losses of property not connected with the trade or business if arising from certain casualties or theft,”.
Source credit
Pub. L. 98–369, div. A, title VII, § 711(c)(2)(A)(iv), July 18, 1984, 98 Stat. 945
May 23, 1977 – Jul 18, 1984
Amended · full text not held
Subsec. (c). Pub. L. 95–30 struck out par. (1) which made a cross reference to section 142(b)(1) for disallowance of the standard deduction and struck out “(2)” at beginning of single remaining cross reference.
Source credit
Pub. L. 95–30, title I, § 101(d)(11), May 23, 1977, 91 Stat. 134
Oct 4, 1976 – May 23, 1977
Amended · full text not held
Subsec. (a). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
Source credit
Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834
Oct 27, 1972 – Oct 4, 1976
Amended · full text not held
Subsec. (b)(3). Pub. L. 92–580 substituted exception that only one exemption be allowed under section 151 unless the taxpayer is a resident of a contiguous country or is a national of the United States, for exception that in the case of a non-resident alien individual who is not a resident of a contiguous country only one exception be allowed under section 151.
Source credit
Pub. L. 92–580, § 1(b), Oct. 27, 1972, 86 Stat. 1276
Nov 13, 1966 – Oct 27, 1972
Amended · full text not held
Pub. L. 89–809 amended section generally, substituting “connected with income which is effectively connected with the conduct of a trade or business within the United States” for “connected with income from sources within the United States” in subsec. (a), striking out provisions relating to the deduction of losses not connected with a trade or business but incurred in transactions entered into for profit in subsec. (b), making the casualty loss deduction available even if the property giving rise to the loss is not effectively connected with the conduct of a trade or business in the United States if the property is located in this country, making the charitable contribution deduction available even though not related to the trade or business, and adding subsec. (c)(2) making a cross reference to section 906(b)(1) for rule that certain foreign taxes are not to be taken into account in determining deduction or credit.
Source credit
Pub. L. 89–809, title I, § 103(c)(1), Nov. 13, 1966, 80 Stat. 1550
Aug 16, 1954 – Nov 13, 1966
Enacted · full text not held
Source credit
Aug. 16, 1954, ch. 736, 68A Stat. 280
