The following items shall not be included in gross income and shall be exempt from
taxation under this subtitle:
I.R.C. § 933(1) Resident Of Puerto Rico For Entire Taxable Year —
In the case of an individual who is a bona fide resident of Puerto Rico during the
entire taxable year, income derived from sources within Puerto Rico (except amounts
received for services performed as an employee of the United States or any agency
thereof);
but such individual shall not be allowed as a deduction from his gross income any
deductions (other than the deduction under section 151, relating to personal exemptions), or any credit, properly allocable to or chargeable
against amounts excluded from gross income under this paragraph.
I.R.C. § 933(2) Taxable Year Of Change Of Residence From Puerto Rico —
In the case of an individual citizen of the United States who has been a bona fide
resident of Puerto Rico for a period of at least 2 years before the date on which
he changes his residence from Puerto Rico, income derived from sources therein (except
amounts received for services performed as an employee of the United States or any
agency thereof) which is attributable to that part of such period of Puerto Rican
residence before such date; but such individual shall not be allowed as a deduction
from his gross income any deductions
(other than the deduction for personal exemptions under section 151), or any credit, properly allocable to or chargeable against amounts excluded from
gross income under this paragraph.
(Aug. 16, 1954, ch. 736, 68A Stat. 293; Oct. 22, 1986,
Pub. L. 99-514, title XII, 1272(d)(3), 100 Stat. 2594.)
BACKGROUND NOTES
AMENDMENTS
1986--Pub. L. 99-514 inserted “,or any credit,” in pars. (1) and (2).
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by Pub. L. 99-514 applicable to taxable years beginning after Dec. 31, 1986, with certain exceptions
and qualifications, see section 1277 of Pub. L. 99-514, set out as a note under section 931 of this title.
