Source: http://www4.law.cornell.edu/uscode/text/26/67?quicktabs_8=2
Timestamp: 2013-12-10 16:27:53
Document Index: 187234438

Matched Legal Cases: ['§ 67', '§ 67', '§ 67', '§ 132', '§ 1001', '§ 4011', '§ 7814', '§ 13213', '§ 4004', '§ 1', '§ 319', '§ 1001', '§ 4011', '§ 1001', '§ 1001', '§ 1001', '§ 4004', '§ 10104']

26 USC § 67 - 2-percent floor on miscellaneous itemized deductions | Title 26 - Internal Revenue Code | U.S. Code | LII / Legal Information Institute
USC › Title 26 › Subtitle A › Chapter 1 › Subchapter B › Part I › § 67 › prevnext
26 USC § 67 - 2-percent floor on miscellaneous itemized deductions
the deduction under section 165
(a) for casualty or theft losses described in paragraph (2) or (3) of section 165
(c) or for losses described in section 165
the deductions under section 170 (relating to charitable, etc., contributions and gifts) and section 642
(c) (relating to deduction for amounts paid or permanently set aside for a charitable purpose),
the deduction under section 691
(c) (relating to deduction for estate tax in case of income in respect of the decedent),
the deduction under section 72
(b)(3) (relating to deduction where annuity payments cease before investment recovered),
Disallowance of indirect deduction through pass-thru entity
Treatment of publicly offered regulated investment companies
Publicly offered regulated investment companies
Secretary may reduce 500 person requirement
Treatment of certain other entities
of a handicapped individual (as defined in section 190
(b)(3)) for attendant care services at the individual’s place of employment and other expenses in connection with such place of employment which are necessary for such individual to be able to work, and
the deductions allowable under sections 642
(b), 651, and 661,
Coordination with other limitation
This section shall be applied before the application of the dollar limitation of the second sentence of section 162
(Added Pub. L. 99–514, title I, § 132(a),Oct. 22, 1986, 100 Stat. 2113; amended Pub. L. 100–647, title I, § 1001(f), title IV, § 4011(a),Nov. 10, 1988, 102 Stat. 3351, 3655; Pub. L. 101–239, title VII, § 7814(f),Dec. 19, 1989, 103 Stat. 2414; Pub. L. 103–66, title XIII, § 13213(c)(2),Aug. 10, 1993, 107 Stat. 474; Pub. L. 105–277, div. J, title IV, § 4004(b)(1),Oct. 21, 1998, 112 Stat. 2681–910; Pub. L. 106–554, § 1(a)(7) [title III, § 319(2)], Dec. 21, 2000, 114 Stat. 2763, 2763A–646.)
2000—Subsec. (f). Pub. L. 106–554substituted “the second sentence” for “the last sentence”.
1998—Subsec. (b)(3). Pub. L. 105–277substituted “for casualty or theft losses described in paragraph (2) or (3) of section 165
(d)” for “for losses described in subsection (c)(3) or (d) ofsection 165”.
1993—Subsec. (b)(6) to (13). Pub. L. 103–66redesignated pars. (7) to (13) as (6) to (12), respectively, and struck out former par. (6) which read as follows: “the deduction under section 217 (relating to moving expenses),”.
1989—Subsec. (c)(4). Pub. L. 101–239struck out par. (4) which read as follows: “Termination.—This subsection shall not apply to any taxable year beginning after December 31, 1989.”
1988—Subsec. (b)(4). Pub. L. 100–647, § 1001(f)(2), substituted “deductions” for “deduction” and inserted before comma at end “and section 642
(c) (relating to deduction for amounts paid or permanently set aside for a charitable purpose)”.
Subsec. (c). Pub. L. 100–647, § 4011(a), amended subsec. (c) generally. Prior to amendment subsec. (c) read as follows: “The Secretary shall prescribe regulations which prohibit the indirect deduction through pass-thru entities of amounts which are not allowable as a deduction if paid or incurred directly by an individual and which contain such reporting requirements as may be necessary to carry out the purposes of this subsection. The preceding sentence shall not apply—
Pub. L. 100–647, § 1001(f)(4), amended last sentence generally. Prior to amendment, last sentence read as follows: “The preceding sentence shall not apply with respect to estates, trusts, cooperatives, and real estate investment trusts.”
Subsec. (e). Pub. L. 100–647, § 1001(f)(3), amended subsec. (e) generally. Prior to amendment, subsec. (e) read as follows: “For purposes of this section, the adjusted gross income of an estate or trust shall be computed in the same manner as in the case of an individual, except that the deductions for costs which are paid or incurred in connection with the administration of the estate or trust and would not have been incurred if the property were not held in such trust or estate shall be treated as allowable in arriving at adjusted gross income.”
Subsec. (f). Pub. L. 100–647, § 1001(f)(1), added subsec. (f).
Pub. L. 105–277, div. J, title IV, § 4004(c)(2),Oct. 21, 1998, 112 Stat. 2681–911, provided that: “The amendment made by subsection (b)(1) [amending this section] shall apply to taxable years beginning after December 31, 1986.”
Amendment by section 1001(f) ofPub. L. 100–647effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) ofPub. L. 100–647, set out as a note under section 1 of this title.
Section 4011(b) ofPub. L. 100–647provided that: “The amendment made by subsection (a) [amending this section] shall apply to taxable years beginning after December 31, 1987.”
Section applicable to taxable years beginning after Dec. 31, 1986, see section 151(a) ofPub. L. 99–514, set out as an Effective Date of 1986 Amendment note under section 1 of this title.
Pub. L. 100–203, title X, § 10104(a),Dec. 22, 1987, 101 Stat. 1330–386, provided that: