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TITLE 26-INTERNAL REVENUE CODE cluded from gross income, see part III (sec. 101 and fol- lowing). (Aug. 16, 1954, ch. 736, 68A Stat. 17.) CANCELLATION OF CERTAIN STUDENT LOANS Pub. L. 94-455, title XXI, § 2117, Oct. 4, 1976, 90 Stat. 1911, provided that: "(a) In General.-In the case of an individual, no amount shall be included in gross income for purposes of section 61 of the Internal Revenue Code of 1954 [this section] by reason of the discharge of all or part of the indebtedness of the individual under a student loan if such discharge was pursuant to a provision of such loan under which all or part of the indebtedness of the individual would be discharged if the individual worked for a certain period of time in certain geo- graphical areas or for certain classes of employers. "(b) Student loan.-For purposes of this section the term 'student loan' means any loan to an individual to assist the individual in attending an educational orga- nization described in section 170(b)(1)(A)ii) of such Code [section 170(b)(1)(A)(ii) of this title]- "(1) by the United States, or an instrumentality or agency thereof, or a State, territory, or possession of the United States, or any political subdivision there- of, or the District of Columbia, or "(2) by any such educational organization pursu- ant to an agreement with the United States, or an instrumentality or agency thereof, or a State, terri- tory, or possession of the United States, or any po- litical subdivision thereof, or the District of Colum- bia under which the funds from which the loan was made were provided to such educational organiza- tion. "(c) Effective date.-The provisions of this section shall apply to discharges of indebtedness made before January 1, 1979." REGULATIONS RELATING TO TAX TREATMENT OF CERTAIN PREPUBLICATION EXPENDITURES OF PUBLISHERS Pub. L. 94-455, Title XXI, § 2119, Oct. 4, 1976, 90 Stat. 1912, provided that: "(a) General rule.-With respect to taxable years be- ginning on or before the date on which regulations dealing with prepublication expenditures are issued after the date of the enactment of this Act [Oct. 4, 1976), the application of sections 61 (as it relates to cost of goods sold), 162, 174, 263, and 471 of the Inter- nal Revenue Code of 1954 [sections 61, 162, 174, 263, and 471 of this title] to any prepublication expendi- ture shall be administered- "(1) without regard to Revenue Ruling 73-395, and "(2) in the manner in which such sections were ap- plied consistently by the taxpayer to such expendi- tures before the date of the issuance of such revenue ruling. "(b) Regulations to be prospective only.-Any regu- lations issued after the date of the enactment of this Act [Oct. 4, 1976] which deal with the application of sections 61 (as it relates to cost of goods sold), 162, 174, 263, and 471 of the Internal Revenue Code of 1954 [sections 61, 162, 174. 263, and 471 of this title] to pre- publication expenditures shall apply only with respect to taxable years beginning after the date on which such regulations are Issued. (c) Prepublication expenditures defined.-For pur- poses of this section, the term 'prepublication expendi- tures' means expenditures paid or incurred by the tax- payer (in connection with his trade or business of pub- lishing) for the writing, editing, compiling, illustrat- ing, designing, or other development or improvement of a book, teaching aid, or similar product." REIMBURSEMENT OF MOVINGr EXPENSES OF EMPLOYEES OF CERTAIN CORPORATIONS EXCLUDED FROM GROSS INCOME; CLAIM FOR REFUND OR CREDIT; LIMITATIONS; INTEREST Pub. L. 86-780, § 5, Sept. 14, 1960, 74 Stat. 1013 pro- vided for the exclusion from gross income of any amount received after Dec. 31, 1949 and before Oct. 1, 1955 by employees of certain corporations as reim. bursement for moving expenses, and the refund or credit of any overpayments. CROSS REFERENCES Capital gains and losses, see section 1201 et seq. of this title. Guaranteed payments to partner for services or use of capital considered as made to one not member of partnership for purposes of this section, see section 707 of this title. Income from sources- Within the United States, see section 861 of this title. Without the United States, see section 862 of this title. Items specifically excluded from gross income- Certain death benefits, see section 101 of this title. Income from discharge of indebtedness, see section 108 of this title. Items specifically included in gross income- Alimony and separate maintenance payments, see section 71 of this title. Annuities; certain proceeds of endowment and life insurance contracts, see section 72 of this title. Recipients of income in respect of decedents, see sec- tion 691 of this title. Trust income attributable to grantors and others as substantial owners includible hi gross income, see sec- tion 671 of this title. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 208A, 305, 351, 356, 408, 671, 707, 6103 of this title. SECTION REFERRED TO IN D.C. CODE This section is referred to in section 1-1182 of the District of Columbia Code. § 62. Adjusted gross income defined For purposes of this subtitle, the term "ad- justed gross income" means, in the case of an individual, gross income minus the following deductions: (1) Trade and business deductions The deductions allowed by this chapter (other than by part VII of this subchapter) which are attributable to a trade or business carried on by the taxpayer, if such trade or business does not consist of the performance of services by the taxpayer as an employee. (2) Trade and business deductions of employees (A) Reimbursed expenses The deductions allowed by part VI (see. 161 and following) which consist of ex- penses paid or incurred by the taxpayer, in connection with the performance by him of services as an employee, under a reimburse- ment or other expense allowance arrange- ment with his employer. (B) Expenses for travel away from home The deductions allowed by part VI (sec. 161 and following) which consist of ex- penses of travel, meals, and lodging while away from home, paid or incurred by the taxpayer in connection with the perfor- mance by him of services as an employee. (C) Transportation expenses The deductions allowed by part VI (sec. 161 and following) which consist of ex- penses of transportation paid or incurred by Page 95