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SUBTITLE A. Income Taxes.

CHAPTER 1. Normal Taxes and Surtaxes..

CHAPTER 2. Tax on Self-Employment Income.

CHAPTER 3. Withholding of Tax on Nonresident Aliens and Foreign

Corporations and Tax-Free Covenant Bonds---

CHAPTER 4. Rules Applicable to Recovery of Excessive Profits on

Government Contracts..

CHAPTER 5. Tax on Transfers to Avoid Income Tax...

CHAPTER 6. Consolidated Returns..

SUBTITLE B. Estate and Gift Taxes..

CHAPTER 11. Estate Tax....

CHAPTER 12. Gift Tax..

SUBTITLE C. Employment Taxes..

CHAPTER 21. Federal Insurance Contributions Act..

CHAPTER 22. Railroad Retirement Tax Act--

CHAPTER 23. Federal Unemployment Tax Act.---

CHAPTER 24. Collection of Income Tax at Source on Wages...

CHAPTER 25. General Provisions Relating to Employment Taxes.

SUBTITLE D. Miscellaneous Excise Taxes...

CHAPTER 31. Retailers Excise Taxes..

CHAPTER 32. Manufacturers Excise Taxes..

CHAPTER 33. Facilities and Services...

CHAPTER 34. Documentary Stamp Taxes.--

CHAPTER 35. Taxes on Wagering-

CHAPTER 36. Certain Other Excise Taxes...

CHAPTER 37. Sugar, Coconut and Palm Oil...

CHAPTER 38. Import Taxes.-

CHAPTER 39. Regulatory Taxes_

CHAPTER 40. General Provisions Relating to Occupational Taxes.--

SUBTITLE E. Alcohol, Tobacco, and Certain Other Excise Taxes..--

CHAPTER 51. Distilled Spirits, Wines, and Beer--

CHAPTER 52. Tobacco, Cigars, Cigarettes, and Cigarette Papers and


CHAPTER 53. Machine Guns and Certain Other Firearms.

SUBTITLE F. Procedure and Administration..

CHAPTER 61. Information and Returns..

CHAPTER 62. Time and Place for Paying Tax..

CHAPTER 63. Assessment..

CHAPTER 64. Collection...

CHAPTER 65. Abatements, Credits, and Refunds.

CHAPTER 66. Limitations..

CHAPTER 67. Interest..

CHAPTER 68. Additions to the Tax, Additional Amounts, and Assess-

able Penalties.

CHAPTER 69. General Provisions Relating to Stamps..

CHAPTER 70. Jeopardy, Bankruptcy and Receiverships.----

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SUBTITLE F. Procedure and Administration-Continued

CHAPTER 71. Transferees and Fiduciaries.-
CHAPTER 72. Licensing and Registration..
CHAPTER 73. Bonds..
CHAPTER 74. Closing Agreements and Compromises.
CHAPTER 75. Crimes, Other Offenses, and Forfeitures..
CHAPTER 76. Judicial Proceedings-
CHAPTER 77. Miscellaneous Provisions..
CHAPTER 78. Discovery of Liability and Enforcement of Title.
CHAPTER 79. Definitions..

CHAPTER 80. General Rules..
SUBTITLE G. The Joint Committee on Internal Revenue Taxation...

CHAPTER 91. Organization and Membership of the Joint Committee.

CHAPTER 92. Powers and Duties of the Joint Committee....

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Sec. 71. Alimony and separate maintenance payments.

Sec. 72. Annuities; certain proceeds of endowment and

life insurance contracts.

Sec. 73. Services of child.

Sec. 74. Prizes and awards..

Sec. 75. Dealers in tax-exempt securities.

Sec. 76. Mortgages made or obligations issued by

joint-stock land banks..

Sec. 77. Commodity credit loans..







CHAPTER 1. Normal Taxes and Surtaxes-Continued

SUBCHAPTER B. Computation of taxable income-Continued

Part III. Items specifically excluded from gross income.

Sec. 101. Certain death benefits..

Sec. 102. Gifts and inheritances.

Sec. 103. Interest on certain governmental obligations.

Sec. 104. Compensation for injuries or sickness...

Sec. 105. Amounts received under accident and health


Sec. 106. Contributions by employer to accident and

health plans.---

Sec. 107. Rental value of parsonages.

Sec. 108. Income from discharge of indebtedness..

Sec. 109. Improvements by lessee on lessor's property--

Sec. 110. Income taxes paid by lessee corporation.

Sec. 111. Recovery of bad debts, prior taxes, and de-

linquency amounts.--

Sec. 112. Certain combat pay of members of the Armed


Sec. 113. Mustering-out payments for members of the

Armed Forces..

Sec. 114. Sports programs conducted for the American

National Red Cross.--

Sec. 115. Income of States, municipalities, etc..

Sec. 116. Partial exclusion of dividends received by in-


Sec. 117. Scholarships and fellowship grants.-

Sec. 118. Contributions to the capital of a corporation.

Sec. 119. Meals or lodging furnished for convenience of


Sec. 121. Cross references to other acts.

Part IV. Standard deduction for individuals.

Sec. 141. Standard deduction.--

Sec. 142. Individuals not eligible for standard deduc-


Sec. 143. Determination of marital status.

Sec. 144. Election of standard deduction.

Sec. 145. Cross reference

Part V. Deductions for personal exemptions.

Sec. 151. Allowance of deductions for personal exemp-


Sec. 152. Dependent defined.

Sec. 153. Determination of marital status..

Sec. 154. Cross references..

Part VI. Itemized deductions for individuals and corporations.

Sec. 161. Allowance of deductions..

Sec. 162. Trade or business expenses.

Sec. 163. Interest...

Sec. 164. Taxes..

Sec. 165. Losses.

Sec. 166. Bad debts.

Sec. 167. Depreciation.

Sec. 168. Amortization of emergency facilities.

Sec. 169. Amortization of grain-storage facilities

Sec. 170. Charitable, etc., contributions and gifts.

Sec. 171. Amortizable bond premium.

Sec. 172. Net operating loss deduction.

Sec. 173. Circulation expenditures..

Sec. 174. Research and experimental expenditures -

Sec. 175. Soil and water conservation expenditures..

Sec. 176. Payments with respect to employees of certain

foreign corporations.-

Sec. 177. Trademark and trade name expenditures..--

Sec. 178. Depreciation or amortization of improvements

made by lessee on lessor's property.

Sec. 179. Additional first-year depreciation allowance

for small business.

Sec. 180. Expenditures by farmers for fertilizer, etc...

CHAPTER 1. Normal Taxes and Surtaxes-Continued

SUBCHAPTER B. Computation of taxable income-Continued

Part VII. Additional itemized deductions for Individuals.

Sec. 211. Allowance of deductions..--

Sec. 212. Expenses for production of income.

Sec. 213. Medical, dental, etc., expenses...

Sec. 214. Expenses for care of certain dependents..

Sec, 215. Alimony, etc., payments.---

Sec. 216. Amounts representing taxes and interest paid

to cooperative housing corporation....

Sec. 217. Cross references.

Part VIII. Special deductions for corporations.

Sec. 241. Allowance of special deductions...

Sec. 242. Partially tax-exempt interest ---

Sec. 243. Dividends received by corporations.

Sec. 244. Dividends received on certain preferred stock.

Sec, 245. Dividends received from certain foreign cor-


Sec. 246. Rules applying to deductions for dividends


Sec. 247. Dividends paid on certain preferred stock of

public utilities...

Sec. 248. Organizational expenditures..

Part IX. Items not deductible.

Sec. 261. General rule for disallowance of deductions...

Sec. 262. Personal, living, and family expenses.

Sec. 263. Capital expenditures..

Sec. 264. Certain amounts paid in connection with in-

surance contracts..

Sec. 265. Expenses and interest relating to tax-exempt


Sec. 266. Carrying charges..

Sec. 267. Losses, expenses, and interest with respect to

transactions between related taxpayers.

Sec. 268. Sale of land with unharvested crop..

Sec. 269. Acquisitions made to evade or avoid income


Sec. 270. Limitation on deductions allowable indi-

viduals in certain cases.

Sec. 271. Debts owed by political parties, etc..

Sec. 272. Disposal of coal.

Sec. 273. Holders of life or terminable interest..

SUBCHAPTER C. Corporate distributions and adjustments.

Part I. Distributions by corporations.

Subpart A. Effects on recipients.

Sec. 301. Distributions of property-

Sec. 302. Distributions in redemption of stock.

Sec. 303. Distributions in redemption of stock to pay

death taxes.

Sec. 304. Redemption through use of related corpora-


Sec. 305. Distributions of stock and stock rights..

Sec. 306. Dispositions of certain stock.

Sec. 307. Basis of stock and stock rights acquired in dis-


Subpart B. Effects on corporation.

Sec. 311. Taxability of corporation on distribution..---

Sec. 312. Effect on earnings and profits ---

Subpart C. Definitions; constructive ownership of stock.

Sec. 316. Dividend defined..

Sec. 317. Other definitions..

Sec. 318. Constructive ownership of stock.

Part II. Corporate liquidations.

Subpart A. Effects on recipients.

Sec. 331. Gain or loss to shareholders in corporate liqui-


Sec. 332. Complete liquidations of subsidiaries..

Sec. 333, Election as to recognition of gain in certain


Sen 334. Basis of property received in liquidations.










CHAPTER 1. Normal Taxes and Surtaxes-Continued

SUBCHAPTER C. Corporate distributions and adjustments-Con.

Part II. Corporate liquidations—Continued

Subpart B. Effects on corporation.

Sec. 336. General rule.....

Sec. 337. Gain or loss on sales or exchanges in connec-

tion with certain liquidations..

Sec. 338. Effect on earnings and profits --

Subpart C. Collapsible corporations; foreign personal hold-

ing companies.

Sec. 341. Collapsible corporations.-

Sec. 342. Liquidation of certain foreign personal holding


Subpart D. Definition.

Sec. 346. Partial liquidation defined.---

Part III. Corporate organizations and reorganizations.

Subpart A. Corporate organizations.

Sec. 351. Transfer to corporation controlled by trans-


Subpart B. Effects on shareholders and security holders.
Sec. 354. Exchanges of stock and securities in certain


Sec. 355. Distribution of stock and securities of a con-

trolled corporation.

Sec. 356. Receipt of additional consideration.-

Sec. 357. Assumption of liability-

Sec. 358. Basis to distributees...

Subpart C. Effects on corporation.

Sec. 361. Nonrecognition of gain or loss to corpora-


Sec. 362. Basis to corporations.

Sec. 363. Effect on earnings and profits ..

Subpart D. Special rule; definitions.

Sec. 367. Foreign co


Sec. 368. Definitions relating to corporate reorganiza-


Part IV. Insolvency reorganizations.

Sec. 371. Reorganization in certain receivership and

bankruptcy proceedings..

Sec. 372. Basis in connection with certain receivership

and bankruptcy proceedings.

Sec. 373. Loss not recognized in certain railroad reor-


Sec. 374. Gain or loss not recognized in certain railroad


Part V. Carryovers.

Sec. 381. Carryovers in certain corporate acquisitions..

Sec. 382. Special limitations on net operating loss


Part VI. Effective date of subchapter C.

Sec. 391. Effective date of part I.

Sec. 392. Effective date of part II.

Sec. 393. Effective dates of parts III and IV-

Sec. 394. Effective date of part V..

Sec. 395. Special rules for application of this sub-


SUBCHAPTER D. Deferred compensation, etc.

Part I. Pension, profit-sharing, stock bonus plans, etc.

Sec. 401. Qualified pension, profit-sharing, and stock

bonus plans --

Sec. 402. Taxability of beneficiary of employees' trust..

Sec. 403. Taxation of employee annuities---

Sec. 404. Deduction for contributions of an employer to

an employees' trust or annuity plan and

compensation under à deferred-payment


Part II. Miscellaneous provisions.

Sec. 421. Employee stock options.--

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