Sec. 1312. Denial of deduction for expenses attributable to the trade or business of being an employee

166 words·~1 min read·/bill/115/hr/1/rh/section-1312

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Part IX of subchapter B of chapter 1 is amended by inserting after the item relating to section 262 the following new item: Except as otherwise provided in this section, no deduction shall be allowed with respect to any trade or business of the taxpayer which consists of the performance of services by the taxpayer as an employee. Subsection

(a)shall not apply to any deduction allowable (determined without regard to subsection (a)) in determining adjusted gross income. . Section 62(a)(2) is amended— by striking subparagraphs (B), (C), and (D), and by redesignating subparagraph

(E)as subparagraph (B). Section 62 is amended by striking subsections

(b)and

(d)and by redesignating subsections

(c)and

(e)as subsections

(b)and (c), respectively. Section 62(a)(20) is amended by striking subsection

(e)and inserting subsection

(c). Section 132(d) is amended by inserting (determined without regard to section 262A) after section 162 . The amendments made by this section shall apply to taxable years beginning after December 31, 2017.