
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC412]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                       CHAPTER 7--SOCIAL SECURITY
 
  SUBCHAPTER II--FEDERAL OLD-AGE, SURVIVORS, AND DISABILITY INSURANCE 
                                BENEFITS
 
Sec. 412. Self-employment income credited to calendar years

    (a) For the purposes of determining average monthly wage and 
quarters of coverage the amount of self-employment income derived during 
any taxable year which begins before 1978 shall--
        (1) in the case of a taxable year which is a calendar year, be 
    credited equally to each quarter of such calendar year; and
        (2) in the case of any other taxable year, be credited equally 
    to the calendar quarter in which such taxable year ends and to each 
    of the next three or fewer preceding quarters any part of which is 
    in such taxable year.

    (b) For the purposes of determining average indexed monthly 
earnings, average monthly wage, and quarters of coverage the amount of 
self-employment income derived during any taxable year which begins 
after 1977 shall--
        (1) in the case of a taxable year which is a calendar year or 
    which begins with or during a calendar year and ends with or during 
    such year, be credited to such calendar year; and
        (2) in the case of any other taxable year, be allocated 
    proportionately to the two calendar years, portions of which are 
    included within such taxable year, on the basis of the number of 
    months in each such calendar year which are included completely 
    within the taxable year.

For purposes of clause (2), the calendar month in which a taxable year 
ends shall be treated as included completely within that taxable year.

(Aug. 14, 1935, ch. 531, title II, Sec. 212, as added Aug. 28, 1950, ch. 
809, title I, Sec. 104(a), 64 Stat. 492, 504; amended Pub. L. 95-216, 
title III, Sec. 351(b), Dec. 20, 1977, 91 Stat. 1549.)


                               Amendments

    1977--Pub. L. 95-216 designated existing provisions as subsec. (a), 
substituted provisions relating to crediting of self-employment income 
to calendar years for provisions relating to crediting of self-
employment income to calendar quarters, and added subsec. (b).


                    Effective Date of 1977 Amendment

    Amendment by Pub. L. 95-216 effective Jan. 1, 1978, see section 
351(d) of Pub. L. 95-216, set out as a note under section 409 of this 
title.

                  Section Referred to in Other Sections

    This section is referred to in sections 413, 415 of this title.
