FEDERAL · 26 U.S.C. · Chapter 1
Foreign income
Current through Pub. L. 119-102
(a)S corporation treated as partnership, etc.
For purposes of subparts A and F of part III, and part V, of subchapter N (relating to income from sources without the United States)—
(1)an S corporation shall be treated as a partnership, and
(2)the shareholders of such corporation shall be treated as partners of such partnership.
(b)Recapture of overall foreign loss
For purposes of section 904(f) (relating to recapture of overall foreign loss), the making or termination of an election to be treated as an S corporation shall be treated as a disposition of the business.
Free access — add to your briefcase to read the full text and ask questions with AI
26 U.S.C. § 1373 (Foreign income) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Donahue v. Rodd Electrotype Co. of New England, Inc.
328 N.E.2d 505 (Massachusetts Supreme Judicial Court, 1975)
E. Keith Owens v. Commissioner of Internal Revenue
568 F.2d 1233 (Sixth Circuit, 1977)
Jasper L. House, Jr., and Edra F. House v. Commissioner of Internal Revenue
453 F.2d 982 (Fifth Circuit, 1972)
Valentino v. Franchise Tax Board
105 Cal. Rptr. 2d 304 (California Court of Appeal, 2001)
A. G. Attebury Et Ux. v. United States
430 F.2d 1162 (Fifth Circuit, 1970)
In Re Avien, Inc.
390 F. Supp. 1335 (E.D. New York, 1975)
Leslie A. Ludeking v. Robert H. Finch, Secretary of Health, Education and Welfare
421 F.2d 499 (Eighth Circuit, 1970)
Marie L. Detreville v. United States of America, Marie L. Detreville v. United States
445 F.2d 1306 (Fourth Circuit, 1971)
Kulick v. Department of Revenue
624 P.2d 93 (Oregon Supreme Court, 1981)
Swope v. Swope
834 P.2d 298 (Idaho Supreme Court, 1992)
United States v. Jack Nathan
536 F.2d 988 (Second Circuit, 1976)
Benderoff v. United States
270 F. Supp. 87 (S.D. Iowa, 1967)
Brown v. Department of Revenue
411 N.E.2d 882 (Appellate Court of Illinois, 1980)
Romano v. Weiss
524 N.E.2d 1381 (Massachusetts Appeals Court, 1988)
Somers v. Gardner
254 F. Supp. 35 (E.D. Virginia, 1966)
People v. Clark
215 Cal. App. 2d 734 (California Court of Appeal, 1963)
United States v. Silverman
359 F. Supp. 1113 (N.D. Illinois, 1973)
Rhude v. United States
592 F. Supp. 18 (D. Minnesota, 1984)
The Pants Rack, Inc. v. United States
669 F.2d 198 (Fourth Circuit, 1982)
Ertegun v. Commissioner of Internal Revenue
531 F.2d 1156 (Second Circuit, 1976)
Source Credit
History
(Added Pub. L. 97–354, §2, Oct. 19, 1982, 96 Stat. 1682.)
Editorial Notes
Editorial Notes
Prior Provisions
A prior section 1373, added Pub. L. 85–866, title I, §64(a), Sept. 2, 1958, 72 Stat. 1652; amended Pub. L. 89–389, §2(b)(3), Apr. 14, 1966, 80 Stat. 114; Pub. L. 91–172, title III, §301(b)(10), Dec. 30, 1969, 83 Stat. 586, related to taxation of corporation undistributed taxable income to shareholders, prior to the general revision of this subchapter by section 2 of Pub. L. 97–354.
Statutory Notes and Related Subsidiaries
Effective Date
Section applicable to taxable years beginning after Dec. 31, 1982, see section 6(a) of Pub. L. 97–354, set out as a note under section 1361 of this title.
Prior Provisions
A prior section 1373, added Pub. L. 85–866, title I, §64(a), Sept. 2, 1958, 72 Stat. 1652; amended Pub. L. 89–389, §2(b)(3), Apr. 14, 1966, 80 Stat. 114; Pub. L. 91–172, title III, §301(b)(10), Dec. 30, 1969, 83 Stat. 586, related to taxation of corporation undistributed taxable income to shareholders, prior to the general revision of this subchapter by section 2 of Pub. L. 97–354.
Statutory Notes and Related Subsidiaries
Effective Date
Section applicable to taxable years beginning after Dec. 31, 1982, see section 6(a) of Pub. L. 97–354, set out as a note under section 1361 of this title.