Source: http://taxtv.com/code/00189-USCODE-2011-title26-subtitleA-chap1-subchapB-partVI-sec163/
Timestamp: 2017-06-22 20:34:18
Document Index: 246621822

Matched Legal Cases: ['§163', '§163', '§163', '§1', '§224', '§221', '§304', '§205', '§1901', '§231', '§310', '§5', '§42', '§612', '§1', '§902', '§1301', '§1803', '§10102', '§1005', '§2004', '§7202', '§11701', '§13206', '§1703', '§312', '§503', '§1005', '§1604', '§4003', '§544', '§302', '§838', '§403', '§501', '§419', '§3', '§1232', '§502', '§759', '§502', '§502', '§502', '§502', '§1232', '§845', '§845', '§302', '§503', '§312', '§1604', '§1704', '§1703', '§13206', '§13228', '§13228', '§13228', '§11701', '§11701', '§11701', '§11701', '§1005', '§1005', '§1005', '§1006', '§1005', '§1005', '§1005', '§1005', '§1005', '§1005', '§1005', '§1009', '§902', '§10212', '§10102', '§10102', '§1', '§1803', '§1810', '§1810', '§1301', '§1', '§902', '§1009', '§1', '§42', '§127', '§1901', '§209', '§205', '§209', '§1906', '§1901', '§209', '§209', '§304', '§304', '§759', '§3', '§419', '§501', '§838', '§841', '§845', '§2', '§2', '§163']

IRC §163. Interest - TaxTV.com
IRC §163. Interest
View related content: IRC §163	Table of ContentsPREVNEXT
Investment income of the taxpayer for any taxable year shall be reduced by the amount of the passive activity loss to which section 469(a) does not apply for such taxable year by reason of section 469(m). The preceding sentence shall not apply to any portion of such passive activity loss which is attributable to a rental real estate activity with respect to which the taxpayer actively participates (within the meaning of section 469(i)(6)) during such taxable year.
(i) the amount which would be disallowed under this subsection if—
(I) paragraph (1) were applied by substituting “the sum of the ceiling amount and the net investment income” for “the net investment income”, and
(ii) the applicable percentage of the excess of—
1987 35 1988 60 1989 80 1990 90.
For purposes of clause (i), the term “disqualified yield” means the excess of the yield to maturity on the obligation over the sum referred to 1 subsection (i)(1)(B) plus 1 percentage point, and the term “total return” is the amount which would have been the original issue discount on the obligation if interest described in the parenthetical in section 1273(a)(2) were included in the stated redemption price at maturity.
(I) paid or accrued after December 31, 2011, or
(I) the corporation’s net interest expense, over
(II) the corporation’s net interest expense.
(A) such corporation’s distributive share of interest income paid or accrued to such partnership shall be treated as interest income paid or accrued to such corporation,
(B) such corporation’s distributive share of interest paid or accrued by such partnership shall be treated as interest paid or accrued by such corporation, and
(C) such corporation’s share of the liabilities of such partnership shall be treated as liabilities of such corporation.
(D) regulations providing for the reallocation of shares of partnership indebtedness, or distributive shares of the partnership’s interest income or interest expense.
No deduction shall be allowed under this chapter for any interest paid or accrued under section 6601 on any underpayment of tax which is attributable to the portion of any reportable transaction understatement (as defined in section 6662A(b)) with respect to which the requirement of section 6664(d)(2)(A) 2 is not met.
(Aug. 16, 1954, ch. 736, 68A Stat. 46; Pub. L. 88–9, §1(a), (c), Apr. 10, 1963, 77 Stat. 6, 7; Pub. L. 88–272, title II, §224(c), Feb. 26, 1964, 78 Stat. 79; Pub. L. 91–172, title II, §221(a), Dec. 30, 1969, 83 Stat. 574; Pub. L. 92–178, title III, §304(a)(2), (b)(2), (d), Dec. 10, 1971, 85 Stat. 523, 524; Pub. L. 94–455, title II, §§205(c)(3), 209(a), title XIX, §§1901(b)(3)(K), (8)(C), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1535, 1542, 1793, 1794, 1834; Pub. L. 97–248, title II, §231(b), title III, §310(b)(2), Sept. 3, 1982, 96 Stat. 498, 596; Pub. L. 97–354, §5(a)(18), Oct. 19, 1982, 96 Stat. 1693; Pub. L. 98–369, div. A, title I, §§42(a)(3), 56(b), 127(f), 128(c), title VI, §612(c), July 18, 1984, 98 Stat. 556, 574, 652, 654, 911; Pub. L. 99– 4, title V, §1(a), (b), title IX, §902(e)(1), title XIII, §1301(j)(3), title XVIII, §§1803(a)(4), 1810(e)(1), Oct. 22, 1986, 100 Stat. 2244, 2246, 2382, 2657, 2793, 2825; Pub. L. 100–203, title X, §§10102(a), (b), 10212(b), Dec. 22, 1987, 101 Stat. 1330–384, 1330–386, 1330–406; Pub. L. 100–647, title I, §§1005(c)(1)–(9), (12), 1006(u)(1), 1009(b)(6), title II, §2004(b)(1), Nov. 10, 1988, 102 Stat. 3390–3392, 3427, 3449, 3598; Pub. L. 101–239, title VII, §§7202(a), (b), 7210(a), Dec. 19, 1989, 103 Stat. 2330, 2331, 2339; Pub. L. 101–508, title XI, §11701(b), (c), Nov. 5, 1990, 104 Stat. 1388–507; Pub. L. 103–66, title XIII, §§13206(d)(1), 13228(a)–(c), Aug. 10, 1993, 107 Stat. 467, 494, 495; Pub. L. 104–188, title I, §§1703(n)(4), 1704(f)(2)(A), (B), Aug. 20, 1996, 110 Stat. 1877, 1879; Pub. L. 105–34, title III, §312(d)(1), title V, §503(b)(2), title X, §1005(a), title XVI, §1604(g)(1), Aug. 5, 1997, 111 Stat. 839, 853, 911, 1099; Pub. L. 105–277, div. J, title IV, §4003(a)(1), Oct. 21, 1998, 112 Stat. 2681–908; Pub. L. 106–170, title V, §544, Dec. 17, 1999, 113 Stat. 1944; Pub. L. 108–27, title III, §302(b), May 28, 2003, 117 Stat. 762; Pub. L. 108–357, title VIII, §§838(a), 841(a), 845(a)–(d), Oct. 22, 2004, 118 Stat. 1596, 1597, 1600, 1601; Pub. L. 109–135, title IV, §403(a)(15), Dec. 21, 2005, 119 Stat. 2619; Pub. L. 109–222, title V, §501(a), (b), May 17, 2006, 120 Stat. 354; Pub. L. 109–432, div. A, title IV, §419(a), (b), Dec. 20, 2006, 120 Stat. 2967; Pub. L. 110–142, §3(a), Dec. 20, 2007, 121 Stat. 1804; Pub. L. 111–5, div. B, title I, §1232(a), (b), Feb. 17, 2009, 123 Stat. 341; Pub. L. 111–147, title V, §502(a)(1), (2)(B), (C), (c), Mar. 18, 2010, 124 Stat. 107, 108; Pub. L. 111–312, title VII, §759(a), Dec. 17, 2010, 124 Stat. 3323.)
2010—Subsec. (f)(2)(A)(ii) to (iv). Pub. L. 111–147, §502(a)(2)(B), inserted “or” at end of cl. (ii), substituted period for “, or” in cl. (iii), and struck out cl. (iv), which read as follows: “is described in subparagraph (B).”
Subsec. (f)(2)(B). Pub. L. 111–147, §502(a)(1), (2)(C)(i), redesignated subpar. (C) as (B), struck out “, and subparagraph (B),” after “subparagraph (A)” in introductory provisions, and struck out former subpar. (B) which related to certain obligations not included as registration-required obligations..
Subsec. (f)(2)(B)(i). Pub. L. 111–147, §502(a)(2)(C)(ii), amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: “in the case of—
Subsec. (f)(3). Pub. L. 111–147, §502(c), inserted before period at end “, except that a dematerialized book entry system or other book entry system specified by the Secretary shall be treated as a book entry system described in such section”.
Subsec. (i)(1). Pub. L. 111–5, §1232(b), in concluding provisions, inserted “(i)” before “permit a rate” and “, or (ii) permit, on a temporary basis, a rate to be used with respect to any debt instrument which is higher than the applicable Federal rate if the Secretary determines that such rate is appropriate in light of distressed conditions in the debt capital markets” before period at end.
Subsec. (l)(2). Pub. L. 108–357, §845(a), inserted “or equity held by the issuer (or any related party) in any other person” after “or a related party”.
Subsec. (l)(3). Pub. L. 108–357, §845(d), substituted “or any other person” for “or a related party” in introductory provisions.
2003—Subsec. (d)(4)(B). Pub. L. 108–27, §§302(b), 303, temporarily inserted at end “Such term shall include qualified dividend income (as defined in section 1(h)(11)(B)) only to the extent the taxpayer elects to treat such income as investment income for purposes of this subsection.” See Effective and Termination Dates of 2003 Amendment note below.
1997—Subsec. (h)(2)(E). Pub. L. 105–34, §503(b)(2)(B), struck out “or 6166 or under section 6166A (as in effect before its repeal by the Economic Recovery Tax Act of 1981)” after “section 6163”.
Subsec. (h)(4)(A)(i)(I). Pub. L. 105–34, §312(d)(1), substituted “section 121” for “section 1034”.
Subsec. (j)(2)(B)(iii). Pub. L. 105–34, §1604(g)(1), substituted “clause (ii)” for “clause (i)” in introductory provisions.
1996—Subsec. (j)(1)(B). Pub. L. 104–188, §1704(f)(2)(A), inserted before period at end “(and clause (ii) of paragraph (2)(A) shall not apply for purposes of applying this subsection to the amount so treated)”.
Subsec. (j)(6)(E)(ii). Pub. L. 104–188, §1703(n)(4), which directed that cl. (ii) be amended by substituting “which is” for “which is a”, could not be executed, because “which is a” does not appear.
1993—Subsec. (d)(4)(B). Pub. L. 103–66, §13206(d)(1), amended heading and text of subpar. (B) generally. Prior to amendment, text read as follows: “The term ‘investment income’ means the sum of—
Subsec. (j). Pub. L. 103–66, §13228(c)(2), substituted “for interest on certain indebtedness” for “for certain interest paid by corporation to related person” in heading.
Subsec. (j)(3). Pub. L. 103–66, §13228(a), amended heading and text of par. (3) generally. Prior to amendment, text read as follows: “For purposes of this subsection—
Subsec. (j)(5)(B). Pub. L. 103–66, §13228(c)(1), struck out “to a related person” after “by the taxpayer” in introductory provisions.
1990—Subsec. (e)(5)(A). Pub. L. 101–508, §11701(b)(1), amended last sentence generally. Prior to amendment, last sentence read as follows: “For purposes of clause (ii), rules similar to the rules of subsection (i)(3)(B) shall apply in determining the time when the original issue discount is paid.”
Subsec. (i)(3)(B). Pub. L. 101–508, §11701(b)(2)(A), struck out “(or stock)” after “obligation” wherever appearing.
Subsec. (j)(2)(A)(ii). Pub. L. 101–508, §11701(c)(2), substituted “or on any other day” for “and on such other days”.
Subsec. (j)(2)(C). Pub. L. 101–508, §11701(c)(1), substituted “reduced (but not below zero) by such” for “less such” in introductory provisions.
1988—Subsec. (d)(3)(A). Pub. L. 100–647, §1005(c)(1), substituted “properly allocable to” for “incurred or continued to purchase or carry”.
Subsec. (d)(4)(B). Pub. L. 100–647, §1005(c)(2), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “The term ‘investment income’ means the sum of—
Subsec. (d)(6)(A). Pub. L. 100–647, §1005(c)(3), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “The amount of interest disallowed under this subsection for any such taxable year shall be equal to the sum of—
Subsec. (e)(2)(B). Pub. L. 100–647, §1006(u)(1), substituted “paragraph (7)” for “paragraph (6)”.
Subsec. (h)(2)(A). Pub. L. 100–647, §1005(c)(4), substituted “properly allocable to” for “incurred or continued in connection with the conduct of”.
Subsec. (h)(2)(E). Pub. L. 100–647, §1005(c)(12), inserted “or under section 6166A (as in effect before its repeal by the Economic Recovery Tax Act of 1981)” before period at end.
Subsec. (h)(3)(C). Pub. L. 100–647, §1005(c)(5), effective as if enacted immediately before enactment of Pub. L. 100–203 (see 1987 Amendment note below), amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: “The amount under subparagraph (B)(ii)(I) at any time after August 16, 1986, shall not be less than the outstanding aggregate principal amount (as of such time) of indebtedness which was incurred on or before August 16, 1986, and which was secured by the qualified residence on August 16, 1986.”
Subsec. (h)(4). Pub. L. 100–647, §1005(c)(6)(A), effective as if enacted immediately before enactment of Pub. L. 100–203 (redesignating par. (5) as (4), see 1987 Amendment note below), amended heading by substituting “Other definitions and special rules—For purposes of this subsection—” for “Other definitions and special rules”.
Subsec. (h)(4)(A). Pub. L. 100–647, §1005(c)(6)(B)(i), (7), effective as if enacted immediately before enactment of Pub. L. 100–203 (redesignating par. (5) as (4), see 1987 Amendment note below), amended subpar. (A) by striking out “For purposes of this subsection—” after “Qualified residence” in introductory provisions, “used or” after “Residence not” in cl. (iii) heading, and “or use” after “does not rent” in cl. (iii) text.
Subsec. (h)(4)(B). Pub. L. 100–647, §1005(c)(6)(B)(ii), effective as if enacted immediately before enactment of Pub. L. 100–203 (redesignating par. (5) as (4), see 1987 Amendment note below), amended subpar. (B) by substituting “Any” for “For purposes of this paragraph, any”.
Pub. L. 100–647, §1005(c)(9), substituted “but for this paragraph” for “but for this subsection”.
Subsec. (i)(2). Pub. L. 100–647, §1009(b)(6), made technical correction to directory language of Pub. L. 99– 4, §902(e)(1), see 1986 Amendment note below.
1987—Subsec. (d)(4)(E). Pub. L. 100–203, §10212(b), substituted “section 469(m)” for “section 469(l)”.
Subsec. (h)(3). Pub. L. 100–203, §10102(a), amended par. (3) generally. Prior to amendment (see 1988 Amendment note above), par. (3) read as follows: “For purposes of this subsection—
Subsec. (h)(4), (5). Pub. L. 100–203, §10102(b), redesignated par. (5) as (4) and struck out former par. (4) which defined “qualified indebtedness” for purposes of this subsection.
1986—Subsec. (d). Pub. L. 99– 4, §1(a), substituted “Limitation on investment interest” for “Limitation on interest on investment indebtedness” in heading, and amended text generally, revising and restating as pars. (1) to (6) provisions of former pars. (1) to (7).
Subsec. (e)(2)(C). Pub. L. 99– 4, §1803(a)(4), added subpar. (C).
Subsec. (e)(3)(A). Pub. L. 99– 4, §1810(e)(1)(A), inserted “The preceding sentence shall not apply to the extent that the original issue discount is effectively connected with the conduct by such foreign related person of a trade or business within the United States unless such original issue discount is exempt from taxation (or is subject to a reduced rate of tax) pursuant to a treaty obligation of the United States.”
Subsec. (e)(5). Pub. L. 99– 4, §1810(e)(1)(B), redesignated par. (4), relating to cross references, as (5).
Subsec. (f)(3). Pub. L. 99– 4, §1301(j)(3), substituted “section 149(a)(3)” for “section 103(j)(3)”.
Subsec. (h). Pub. L. 99– 4, §1(b), added subsec. (h). Former subsec. (h) redesignated (i).
Subsec. (i)(2). Pub. L. 99– 4, §902(e)(1), as amended by Pub. L. 100–647, §1009(b)(6), substituted “section 265(a)(2)” for “section 265(2)”.
Pub. L. 99– 4, §1(b), redesignated former subsec. (h) as (i).
Subsec. (e)(1). Pub. L. 98–369, §42(a)(3), substituted “debt instrument” for “bond” in two places and struck out “by an issuer (other than a natural person)” before “, the portion of the original issue”.
Subsec. (f)(2)(C)(i). Pub. L. 98–369, §127(f), redesignated existing provision as subcl. (I), and in subcl. (I) as so redesignated, inserted reference to subpar. (A) and substituted “or” for “and”, and added subcl. (II).
1976—Subsec. (b)(1). Pub. L. 94–455, §1901(b)(8)(C), substituted “organization described in section 170(b)(1)(A)(ii) and which is provided for a student of such organization” for “institution (as defined in section 1 (e)(4)) and which is provided for a student of such institution”.
Subsec. (d)(1). Pub. L. 94–455, §209(a)(1), among other changes, substituted in subpar. (A) “$10,000” for “$25,000” and “$5,000” for “$12,500”, struck out subpar. (C) relating to the excess of net long-term capital gain over short-term capital loss and subpar. (D) relating to the excess of investment interest over amounts in subpar. (A), and in provisions following lettered paragraphs substituted “$10,000” for “$25,000” and struck out provisions relating to the determination of the amount referred to in subpar. (C).
Subsec. (d)(3)(B)(iii). Pub. L. 94–455, §§205(c)(3), 1901(b)(3)(K), substituted “1250, and 1254” for “and 1250”, and “ordinary income” for “gain from the sale or exchange of property which is neither a capital asset nor property described in section 1231”. Section 205(c)(3) of Pub. L. 94–455, which directed the amendment of subsec. (d)(3)(A)(iii), was executed by amending subsec. (d)(3)(B)(iii) to reflect the probable intent of Congress.
Subsec. (d)(3)(E). Pub. L. 94–455, §209(a)(3), substituted “limitation in paragraph (1)” for “limitations in paragraphs (1) and (2)(A)”.
Subsec. (d)(4)(B), (C). Pub. L. 94–455, §1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Pub. L. 94–455, §1901(b)(3)(K), directed the amendment of par. (5) by substituting “ordinary income” for “gain from the sale or exchange of property which is neither a capital asset nor property described in section 1231”, such par. (5) having been struck out by Pub. L. 94–455, §209(a)(4).
Subsec. (d)(6). Pub. L. 94–455, §§209(a)(4), 1906(b)(13)(A), redesignated par. (7) as (6) and struck out in provision following subpar. (B) “or his delegate” after “Secretary”. Former par. (6) redesignated (5).
1971—Subsec. (d)(1)(B). Pub. L. 92–178, §304(b)(2), inserted “the amount (if any) by which the deductions allowable under this section (determined without regard to this subsection) and sections 162, 164(a)(1) or (2), or 212 attributable to property of the taxpayer subject to a net lease exceeds the rental income produced by such property for the property year, plus” after “plus”.
Subsec. (d)(4)(A)(i). Pub. L. 92–178, §304(a)(2)(A), inserted “of the lessor” after “deductions” and “(other than rents and reimbursed amounts with respect to such property)” after “section 162”.
Pub. L. 111–312, title VII, §759(b), Dec. 17, 2010, 124 Stat. 3323, provided that: “The amendment made by this section [amending this section] shall apply to amounts paid or accrued after December 31, 2010.”
Pub. L. 110–142, §3(b), Dec. 20, 2007, 121 Stat. 1804, provided that: “The amendment made by this section [amending this section] shall apply to amounts paid or accrued after December 31, 2007.”
Pub. L. 109–432, div. A, title IV, §419(d), Dec. 20, 2006, 120 Stat. 2968, provided that: “The amendments made by this section [amending this section and section 6050H of this title] shall apply to amounts paid or accrued after December 31, 2006.”
Pub. L. 109–222, title V, §501(c), May 17, 2006, 120 Stat. 354, provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning on or after the date of the enactment of this Act [May 17, 2006].”
Pub. L. 108–357, title VIII, §838(b), Oct. 22, 2004, 118 Stat. 1597, provided that: “The amendments made by this section [amending this section] shall apply to transactions in taxable years beginning after the date of the enactment of this Act [Oct. 22, 2004].”
Pub. L. 108–357, title VIII, §841(c), Oct. 22, 2004, 118 Stat. 1598, provided that: “The amendments made by this section [amending this section and section 267 of this title] shall apply to payments accrued on or after the date of the enactment of this Act [Oct. 22, 2004].”
Pub. L. 108–357, title VIII, §845(e), Oct. 22, 2004, 118 Stat. 1601, provided that: “The amendments made by this section [amending this section] shall apply to debt instruments issued after October 3, 2004.”
Section 503(d) of Pub. L. 105–34 provided that:
Section 1005(b) of Pub. L. 105–34 provided that:
Section 1704(f)(2)(C) of Pub. L. 104–188 provided that: “The amendments made by this paragraph [amending this section] shall apply as if included in the amendments made by section 7210(a) of the Revenue Reconciliation Act of 1989 [Pub. L. 101–239].”
Section 13228(d) of Pub. L. 103–66 provided that: “The amendments made by this section [amending this section] shall apply to interest paid or accrued in taxable years beginning after December 31, 1993.”
Section 7202(c) of Pub. L. 101–239 provided that:
Section 7210(b) of Pub. L. 101–239 provided that:
Section 1005(c)(13) of Pub. L. 100–647 provided that: “For purposes of applying the amendments made by this subsection [amending this section and sections 467, 1255, and 7872 of this title] and the amendments made by section 10102 of the Revenue Act of 1987 [section 10102 of Pub. L. 100–203, amending this section], the provisions of this subsection shall be treated as having been enacted immediately before the enactment of the Revenue Act of 1987.”
Amendment by sections 1006(u)(1) and 1009(b)(6) of Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99– 4, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Section 10102(c) of Pub. L. 100–203 provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 1987.”
Amendment by section 10212(b) of Pub. L. 100–203 effective as if included in the amendments made by section 501 of the Tax Reform Act of 1986, Pub. L. 99– 4, see section 10212(c) of Pub. L. 100–203, set out as a note under section 58 of this title.
Section 1(e) of Pub. L. 99– 4 provided that: “The amendments made by this section [amending this section and sections 467, 703, 1255, 1363, and 7872 of this title] shall apply to taxable years beginning after December 31, 1986.”
Amendment by section 902(e)(1) of Pub. L. 99– 4 applicable to taxable years ending after Dec. 31, 1986, with certain exceptions and qualifications, see section 902(f) of Pub. L. 99– 4, set out as a note under section 265 of this title.
Amendment by section 1301(j)(3) of Pub. L. 99– 4 applicable to bonds issued after Aug. 15, 1986, except as otherwise provided, see sections 1311 to 1318 of Pub. L. 99– 4, set out as an Effective Date; Transitional Rules note under section 141 of this title.
Amendment by sections 1803(a)(4) and 1810(e)(1) of Pub. L. 99– 4 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99– 4, set out as a note under section 48 of this title.
Section 56(d) of Pub. L. 98–369 provided that: “The amendments made by this section [amending this section and sections 263 and 265 of this title] shall apply to short sales after the date of enactment of this Act [July 18, 1984] in taxable years ending after such date.”
Section 209(b) of Pub. L. 94–455, as amended by Pub. L. 99– 4, §2, Oct. 22, 1986, 100 Stat. 2095, provided that:
Section 304(e) of Pub. L. 92–178 provided that: “The amendments made by this section to section 57 of the Internal Revenue Code of 1954 shall apply to taxable years beginning after December 31, 1969. The amendments made by this section to section 163 of such Code shall apply to taxable years beginning after December 31, 1971.”
Section 221(b) of Pub. L. 91–172 provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 1971.”
Section 224(d) of Pub. L. 88–272 provided that: “The amendments made by subsections (a) [enacting section 483 of this title] and (b) [amending the analysis preceding section 481 of this title] shall apply to payments made after December 31, 1963, on account of sales or exchanges of property occurring after June 30, 1963, other than any sale or exchange made pursuant to a binding written contract (including an irrevocable written option) entered into before July 1, 1963. The amendments made by subsection (c) [amending this section] shall apply to payments made during taxable years beginning after December 31, 1963.”
Section 1005(c)(14) of Pub. L. 100–647 provided that:
Section 1066 of Pub. L. 98–369, as amended by Pub. L. 99– 4, §2, Oct. 22, 1986, 100 Stat. 2095, provided that:
View related content: IRC §163