PUBLIC LAW 95-600—NOV. 6, 1978
92 STAT. 2871
used by him as his principal residence, and any part of such gain was not recognized by reason of subsection (a). "(2) SUBSEQUENT SALE CONNECTED WITH COMMENCING WORK AT
NEW PLACE.—Paragraph (1) shall not apply with respect to the sale of the taxpayer's residence if— "(A) such sale was in connection with the commencement of work by the taxpayer as an employee or as a self-employed individual at a new principal place of work, and "(B) if the residence so sold is treated as the former residence for purposes of section 217 (relating to moving 26 USC 217. expenses), the taxpayer would satisfy the conditions of subsection (c) of section 217 (as modified by the other subsections of such section)." (b) RELATED TECHNICAL AMENDMENT.—Paragraph (4) of section 1034(c) is amended by adding at the end thereof the following new 26 USC 1034. sentence: "If a principal residence is sold in a sale to which subsection (d)(2) applies within 18 months after the sale of the old residence, for purposes of applying the preceding sentence with respect to the old residence, the principal residence so sold shall be treated as the last residence used during such 18-month period." (c) CLERICAL AMENDMENTS.—
(1) The section heading of section 1034 is amended to read as follows:
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"SEC. 1034. ROLLOVER OF GAIN ON SALE OF PRINCIPAL RESIDENCE."
(2) The table of sections for part III of subchapter O of chapter 1 is amended by striking out the item relating to section 1034 and inserting in lieu thereof the following new item: "Sec. 1034. Rollover of gain on sale of principal residence."
(3) Subparagraph (B) of section 1083(e)(1) (relating to certain 26 USC 1083. acquisitions of real property) is amended by striking out "(relating to sale or exchange of residence)" and inserting in lieu thereof "(relating to rollover of gain on sale of principal residence)". (4) Subparagraph (A) of section 1250(d)(7) (relating to gain from 26 USC 1250. dispositions of certain depreciable realty) is amended by striking out "relating to sale or exchange of residence" and inserting in lieu thereof "relating to rollover of gain on sale of principal residence". (5) Subparagraph (C) of section 6212(c)(2) (relating to cross 26 USC 6212. references) is amended by striking out "personal residence" and inserting i n l i e u the r e o f "principal residence".
(6) Paragraph (4) of section 6504 (relating to cross references) 26 USC 6504. is amended by striking out "residence" and inserting in lieu the r e o f "principal residence'. (d) EFFECTIVE DATE.—The amendments made by this section shall
26 USC 1034 apply to sales and exchanges of residences after July 26, 1978, in note, taxable years ending after such date.
Subtitle B—Minimum Tax Provisions SEC. 421. ALTERNATIVE MINIMUM TAX FOR TAXPAYERS OTHER THAN CORPORATIONS.
(a) IN GENERAL.—Part VI of subchapter A of chapter 1 (relating to minimum tax for tax preferences) is amended by inserting immediately before section 56 the following new section:
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