Source: http://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section163&num=0&edition=prelim
Timestamp: 2019-06-18 00:58:08
Document Index: 349705803

Matched Legal Cases: ['§ 163', '§163', '§1', '§224', '§221', '§304', '§205', '§1901', '§231', '§310', '§5', '§42', '§612', '§511', '§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', '§204', '§104', '§220', '§152', '§11043', '§40202', '§401', '§101', '§1409', '§401', '§401', '§11043', '§221', '§204', '§502', '§502', '§1232', '§419', '§841', '§503', '§1704', '§13206', '§13228', '§11701', '§7202', '§1005', '§1005', '§1005', '§1005', '§1005', '§10212', '§10102', '§511', '§56', '§1901', '§304', '§1', '§401', '§401', '§40202', '§11043', '§13301', '§152', '§104', '§204', '§759', '§1232', '§3', '§419', '§501', '§838', '§841', '§845', '§503', '§1005', '§1704', '§13228', '§7202', '§7210', '§1005', '§10102', '§511', '§56', '§209', '§2', '§304', '§221', '§224', '§1005', '§1066', '§2']

[USC10] 26 USC 163: Interest
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26 USC 163: Interest Text contains those laws in effect on June 16, 2019
§163. Interest
(b) Installment purchases where interest charge is not separately stated
If personal property or educational services are purchased under a contract-
The term "investment interest" shall not include-
The term "net investment income" means the excess of-
The term "investment income" means the sum of-
The term "property held for investment" shall include-
(ii) any interest held by a taxpayer in an activity involving the conduct of a trade or business-
(3) Special rule for original issue discount on obligation held by related foreign person
For purposes of subparagraph (A), the term "related foreign person" means any person-
(5) Special rules for original issue discount on certain high yield obligations
In the case of an applicable high yield discount obligation issued by a corporation-
(B) Disqualified portion treated as stock distribution for purposes of dividend received deduction
For purposes of clause (i), the dividend equivalent portion of any amount includible in gross income under section 1272(a) in respect of an applicable high yield discount obligation is the portion of the amount so includible-
(C) Disqualified portion
For purposes of this paragraph, the disqualified portion of the original issue discount on any applicable high yield discount obligation is the lesser of-
(F) Suspension of application of paragraph
(i) Temporary suspension
The term "registration-required obligation" means any obligation (including any obligation issued by a governmental entity) other than an obligation which-
Clauses (ii) and (iii) of subparagraph (A) shall not apply to any obligation if-
For purposes of this subsection, the term "personal interest" means any interest allowable as a deduction under this chapter other than-
The term "qualified residence interest" means any interest which is paid or accrued during the taxable year on-
The term "acquisition indebtedness" means any indebtedness which-
The term "home equity indebtedness" means any indebtedness (other than acquisition indebtedness) secured by a qualified residence to the extent the aggregate amount of such indebtedness does not exceed-
In the case of any pre-October 13, 1987, indebtedness-
The term "pre-October 13, 1987, indebtedness" means-
Subclause (II) of clause (iii) shall not apply to any indebtedness after-
Clause (i) shall not apply to amounts-
(F) Special rules for taxable years 2018 through 2025
In the case of taxable years beginning after December 31, 2017, and before January 1, 2026-
(iii) Treatment of refinancings of indebtedness
The term "qualified residence" means-
If a married couple does not file a joint return for the taxable year-
The term "qualified mortgage insurance" means-
(i) Applicable high yield discount obligation
For purposes of this section, the term "applicable high yield discount obligation" means any debt instrument if-
(B) the yield to maturity on such instrument equals or exceeds the sum of-
For purposes of paragraph (1)(C), a debt instrument shall be treated as having significant original issue discount if-
(A) the aggregate amount which would be includible in gross income with respect to such instrument for periods before the close of any accrual period (as defined in section 1272(a)(5)) ending after the date 5 years after the date of issue, exceeds-
For purposes of determining whether a debt instrument is an applicable high yield discount obligation-
The Secretary shall prescribe such regulations as may be appropriate to carry out the purposes of this subsection and subsection (e)(5), including-
(j) Limitation on business interest
The amount allowed as a deduction under this chapter for any taxable year for business interest shall not exceed the sum of-
(4) Application to partnerships, etc.
In the case of any partnership-
(ii) the adjusted taxable income of each partner of such partnership-
(B) Special rules for carryforwards
The amount of any business interest not allowed as a deduction to a partnership for any taxable year by reason of paragraph (1) for any taxable year-
If a partner is allocated any excess business interest from a partnership under clause (i) for any taxable year-
(iii) Basis adjustments
The term "excess taxable income" means, with respect to any partnership, the amount which bears the same ratio to the partnership's adjusted taxable income as-
The term "trade or business" shall not include-
(iv) the trade or business of the furnishing or sale of-
For purposes of this paragraph, the term "electing farming business" means-
For purposes of this subsection, the term "adjusted taxable income" means the taxable income of the taxpayer-
(A) computed without regard to-
The term "floor plan financing indebtedness" means indebtedness-
(l) Disallowance of deduction on certain debt instruments of corporations
For purposes of paragraph (2), indebtedness shall be treated as payable in equity of the issuer or any other person only if-
(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. 99–514, title V, §511(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 ; Pub. L. 112–240, title II, §204(a), (b), Jan. 2, 2013, 126 Stat. 2323 ; Pub. L. 113–295, div. A, title I, §104(a), title II, §§220(h), 221(a)(25)(A), Dec. 19, 2014, 128 Stat. 4013 , 4036, 4040; Pub. L. 114–113, div. Q, title I, §152(a), Dec. 18, 2015, 129 Stat. 3066 ; Pub. L. 115–97, title I, §§11043(a), 13301(a), Dec. 22, 2017, 131 Stat. 2086 , 2117; Pub. L. 115–123, div. D, title I, §40202(a), Feb. 9, 2018, 132 Stat. 145 ; Pub. L. 115–141, div. U, title IV, §401(a)(48), (b)(12), (c)(1)(C), (3)(B), Mar. 23, 2018, 132 Stat. 1186 , 1202, 1205, 1206.)
Section 199A(g)(2), referred to in subsec. (j)(7)(C)(ii), probably should be a reference to section 199A(g)(4), which defines "specified agricultural or horticultural cooperative" after the general amendment of section 199A(g) by Pub. L. 115–141, div. T, §101(a)(1), Mar. 23, 2018, 132 Stat. 1151 .
Section 6664(d)(2)(A), referred to in subsec. (m), was redesignated as section 6664(d)(3)(A) by Pub. L. 111–152, title I, §1409(c)(2)(A), Mar. 30, 2010, 124 Stat. 1069 .
2018-Subsec. (d)(4)(E). Pub. L. 115–141, §401(b)(12), struck out subpar. (E). Text read as follows: "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."
Subsec. (e)(4). Pub. L. 115–141, §401(c)(3)(B), amended par. (4) generally. Prior to amendment, text read as follows: "This subsection shall not apply to any debt instrument described in-
2017-Subsec. (h)(3)(F). Pub. L. 115–97, §11043(a), added subpar. (F).
2015-Subsec. (h)(3)(E)(iv)(I). Pub. L. 114–113 substituted "December 31, 2016" for "December 31, 2014".
2014-Subsec. (d)(6). Pub. L. 113–295, §221(a)(25)(A)(i), struck out par. (6) which related to phase-in of disallowance.
2013-Subsec. (h)(3)(E)(iv)(I). Pub. L. 112–240, §204(a), substituted "December 31, 2013" for "December 31, 2011".
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)(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-
2009-Subsec. (e)(5)(F), (G). Pub. L. 111–5, §1232(a), added subpar. (F) and redesignated former subpar. (F) as (G).
2007-Subsec. (h)(3)(E)(iv)(I). Pub. L. 110–142 substituted "December 31, 2010" for "December 31, 2007".
2006-Subsec. (h)(3)(E). Pub. L. 109–432, §419(a), added subpar. (E).
2005-Subsec. (j)(6)(A)(i)(III), (IV). Pub. L. 109–135 added subcl. (III) and redesignated former subcl. (III) as (IV).
2004-Subsec. (e)(3)(B), (C). Pub. L. 108–357, §841(a), added subpar. (B) and redesignated former subpar. (B) as (C).
2003-Subsec. (d)(4)(B). Pub. L. 108–27 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."
1999-Subsec. (j)(3)(C). Pub. L. 106–170 added subpar. (C).
1998-Subsec. (h)(2)(F). Pub. L. 105–277 added subpar. (F).
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".
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)".
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)(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-
"(A) In general.-Except as provided in subparagraph (B), the term 'disqualified interest' means any interest paid or accrued by the taxpayer (directly or indirectly) to a related person if no tax is imposed by this subtitle with respect to such interest.
"(B) Exception for certain existing indebtedness.-The term 'disqualified interest' does not include any interest paid or accrued under indebtedness with a fixed term-
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."
1989-Subsec. (e)(5), (6). Pub. L. 101–239, §7202(a), added par. (5) and redesignated former par. (5) as (6).
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. (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.
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-
"(A) In general.-The term 'qualified residence interest' means interest which is paid or accrued during the taxable year on indebtedness which is secured by any property which (at the time such interest is paid or accrued) is a qualified residence of the taxpayer.
"(B) Limitation on amount of interest.-The term 'qualified residence interest' shall not include any interest paid or accrued on indebtedness secured by any qualified residence which is allocable to that portion of the principal amount of such indebtedness which, when added to the outstanding aggregate principal amount of all other indebtedness previously incurred and secured by such qualified residence, exceeds the lesser of-
"(ii) the sum of-
"(C) Cost not less than balance of indebtedness incurred on or before august 16, 1986.-
"(i) In general.-The amount under subparagraph (B)(ii)(I) at any time after August 16, 1986, shall not be less than the outstanding principal amount (as of such time) of indebtedness-
"(ii) Limitation on period of refinancing.-Subclause (II) of clause (i) shall not apply to any indebtedness after-
"(D) Time for determination.-Except as provided in regulations, any determination under subparagraph (B) shall be made as of the time the indebtedness is incurred."
1986-Subsec. (d). Pub. L. 99–514, §511(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).
1984-Subsec. (d)(3)(D). Pub. L. 98–369, §56(b), designated existing provisions as cl. (i) and added cl. (ii).
1982-Subsec. (d)(4). Pub. L. 97–354 redesignated subpar. (D) as (B). Former subpars. (B) and (C), relating to partnerships and shareholders of electing small business corporations, respectively, were struck out.
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 151(e)(4)) and which is provided for a student of such institution".
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".
1969-Subsecs. (d), (e). Pub. L. 91–172 added subsec. (d). Former subsec. (d) redesignated (e).
1964-Subsec. (b)(1). Pub. L. 88–272 included the purchase of educational services, and defined "educational services".
1963-Subsecs. (c), (d). Pub. L. 88–9, §1(a), (c), added subsec. (c), redesignated former subsec. (c) as (d) and added par. (5).
Pub. L. 115–141, div. U, title IV, §401(c)(1)(H), Mar. 23, 2018, 132 Stat. 1205 , provided that: "The amendments made by this paragraph [amending this section and sections 1271, 1272, and 1278 of this title] shall apply to debt instruments issued on or after July 2, 1982."
Pub. L. 115–141, div. U, title IV, §401(c)(3)(C), Mar. 23, 2018, 132 Stat. 1206 , provided that: "The amendments made by this paragraph [amending this section and section 1272 of this title] shall apply to obligations issued on or after March 2, 1984."
Pub. L. 115–123, div. D, title I, §40202(b), Feb. 9, 2018, 132 Stat. 145 , provided that: "The amendment made by this section [amending this section] shall apply to amounts paid or accrued after December 31, 2016."
Pub. L. 115–97, title I, §11043(b), Dec. 22, 2017, 131 Stat. 2087 , provided that: "The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 2017."
Pub. L. 115–97, title I, §13301(c), Dec. 22, 2017, 131 Stat. 2121 , provided that: "The amendments made by this section [amending this section and sections 381 and 382 of this title] shall apply to taxable years beginning after December 31, 2017."
Pub. L. 114–113, div. Q, title I, §152(b), Dec. 18, 2015, 129 Stat. 3066 , provided that: "The amendment made by this section [amending this section] shall apply to amounts paid or accrued after December 31, 2014."
Pub. L. 113–295, div. A, title I, §104(b), Dec. 19, 2014, 128 Stat. 4013 , provided that: "The amendment made by this section [amending this section] shall apply to amounts paid or accrued after December 31, 2013."
Pub. L. 112–240, title II, §204(c), Jan. 2, 2013, 126 Stat. 2323 , provided that: "The amendments made by this section [amending this section] shall apply to amounts paid or accrued after December 31, 2011."
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. 111–5, div. B, title I, §1232(c), Feb. 17, 2009, 123 Stat. 341 , provided that:
"(1) Suspension.-The amendments made by subsection (a) [amending this section] shall apply to obligations issued after August 31, 2008, in taxable years ending after such date.
"(2) Interest rate authority.-The amendments made by subsection (b) [amending this section] shall apply to obligations issued after December 31, 2009, in taxable years ending after such date."
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."
Pub. L. 105–34, title V, §503(d), Aug. 5, 1997, 111 Stat. 853 , provided that:
"(1) In general.-The amendments made by this section [amending this section and sections 2053, 6166, and 6601 of this title] shall apply to estates of decedents dying after December 31, 1997.
"(2) Election.-In the case of the estate of any decedent dying before January 1, 1998, with respect to which there is an election under section 6166 of the Internal Revenue Code of 1986, the executor of the estate may elect to have the amendments made by this section apply with respect to installments due after the effective date of the election; except that the 2-percent portion of such installments shall be equal to the amount which would be the 4-percent portion of such installments without regard to such election. Such an election shall be made before January 1, 1999 in the manner prescribed by the Secretary of the Treasury and, once made, is irrevocable."
Pub. L. 105–34, title X, §1005(b), Aug. 5, 1997, 111 Stat. 912 , provided that:
"(1) In general.-The amendment made by this section [amending this section] shall apply to disqualified debt instruments issued after June 8, 1997.
"(2) Transition rule.-The amendment made by this section shall not apply to any instrument issued after June 8, 1997, if such instrument is-
Pub. L. 104–188, title I, §1704(f)(2)(C), Aug. 20, 1996, 110 Stat. 1879 , 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]."
Pub. L. 103–66, title XIII, §13228(d), Aug. 10, 1993, 107 Stat. 495 , 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."
Pub. L. 101–239, title VII, §7202(c), Dec. 19, 1989, 103 Stat. 2332 , provided that:
"(1) In general.-Except as provided in paragraph (2), the amendments made by this section [amending this section] shall apply to instruments issued after July 10, 1989.
"(A) The amendments made by this section shall not apply to any instrument if-
"(i) such instrument is issued in connection with an acquisition-
"(ii) the term of such instrument is not greater than-
"(iii) the use of such instrument in connection with such acquisition (and the maximum amount of proceeds from such instrument) was determined on or before July 10, 1989, and such determination is evidenced by written documents-
"(C) The amendments made by this section shall not apply to any instrument issued to refinance an original issue discount debt instrument to which the amendments made by this section do not apply if-
Pub. L. 101–239, title VII, §7210(b), Dec. 19, 1989, 103 Stat. 2342 , provided that:
"(1) In general.-The amendment made by this section [amending this section] shall apply to interest paid or accrued in taxable years beginning after July 10, 1989.
"(2) Special rule for demand loans, etc.-In the case of any demand loan (or other loan without a fixed term) which was outstanding on July 10, 1989, interest on such loan to the extent attributable to periods before September 1, 1989, shall not be treated as disqualified interest for purposes of section 163(j) of the Internal Revenue Code of 1986 (as added by subsection (a))."
Pub. L. 100–647, title I, §1005(c)(13), Nov. 10, 1988, 102 Stat. 3392 , 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."
Pub. L. 100–203, title X, §10102(c), Dec. 22, 1987, 101 Stat. 1330–386 , provided that: "The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 1987."
Pub. L. 99–514, title V, §511(e), Oct. 22, 1986, 100 Stat. 2249 , 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."
Pub. L. 98–369, div. A, title I, §56(d), July 18, 1984, 98 Stat. 574 , 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."
Pub. L. 94–455, title II, §209(b), Oct. 4, 1976, 90 Stat. 1543 , as amended by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095 , provided that:
"(1) In general.-Except as provided in paragraph (2), the amendments made by subsection (a) [amending this section] shall apply to taxable years beginning after December 31, 1975.
"(2) Indebtedness incurred before september 11, 1975.-In the case of indebtedness attributable to a specific item of property which-
Pub. L. 92–178, title III, §304(e), Dec. 10, 1971, 85 Stat. 524 , 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."
Pub. L. 91–172, title II, §221(b), Dec. 30, 1969, 83 Stat. 576 , provided that: "The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 1971."
Pub. L. 88–272, title II, §224(d), Feb. 26, 1964, 78 Stat. 79 , 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."
Pub. L. 100–647, title I, §1005(c)(14), Nov. 10, 1988, 102 Stat. 3392 , provided that:
"(A) For purposes of applying section 163(h) of the 1986 Code to any taxable year beginning during 1987, if, incident to a divorce or legal separation-
"(B) The amount determined under this subparagraph shall be equal to the excess (if any) of-
Pub. L. 98–369, div. A, title X, §1066, July 18, 1984, 98 Stat. 1048 , as amended by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095 , provided that:
"(b) Qualified Income.-For purposes of subsection (a), the term 'qualified income' means any income other than income which is attributable to personal services performed by the shareholder for the corporation.
"(c) Election.-The election under subsection (a)(2) shall be made at such time and in such manner as the Secretary of the Treasury or his delegate may by regulations prescribe."