Fabio
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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 26 U.S.C. § 123 | Amounts received under insurance contracts for certain living expenses | us | united_states_code | code_section | 26 | INTERNAL REVENUE CODE | 1 | NORMAL TAXES AND SURTAXES | 123 | 26 U.S.C. § 123 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip | /us/usc/t26/s123 | data/legal/raw/us/code/title-26/usc26.xml | 2c6a77b68d038d29c0fd0603c2cfbe9458965bddb5a3ef1c0a87bccf4496937f | a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4 | 768061d5f22e12f35de013988e2cc8e3232ed5a1032f3aab035f9b8e324cc442 | 2026-07-04 | official |
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26 U.S.C. § 123 - Amounts received under insurance contracts for certain living expenses
Text
(a) General rule In the case of an individual whose principal residence is damaged or destroyed by fire, storm, or other casualty, or who is denied access to his principal residence by governmental authorities because of the occurrence or threat of occurrence of such a casualty, gross income does not include amounts received by such individual under an insurance contract which are paid to compensate or reimburse such individual for living expenses incurred for himself and members of his household resulting from the loss of use or occupancy of such residence.
(b) Limitation Subsection (a) shall apply to amounts received by the taxpayer for living expenses incurred during any period only to the extent the amounts received do not exceed the amount by which—
(1) the actual living expenses incurred during such period for himself and members of his household resulting from the loss of use or occupancy of their residence, exceed
(2) the normal living expenses which would have been incurred for himself and members of his household during such period.
(Added Pub. L. 91–172, title IX, § 901(a), Dec. 30, 1969, 83 Stat. 709.)
Notes
Editorial Notes
Prior ProvisionsA prior section 123 was renumbered section 140 of this title.
Statutory Notes and Related Subsidiaries
Effective DatePub. L. 91–172, title IX, § 901(c), Dec. 30, 1969, 83 Stat. 709, provided that: “The amendments made by this section [enacting this section] shall apply with respect to amounts received on or after January 1, 1969.”