self-employment income of certain individuals temporarily living outside the united states

self-employment income of certain individuals temporarily living outside the united states Sec. 124. (a) Section 211(a) of the Social Security Act is amended— (1) by striking out “and” at the end of paragraph (8); (2) by striking out the period at the end of paragraph (9) and inserting in lieu thereof “; and”; and (3) by inserting after paragraph (9) the following new paragraph: “(10) In the case of an individual who has been a resident of the United States during the entire taxable year, the exclusion from gross income provided by section 911(a) (2) of the Internal Revenue Code of 1954 shall not apply.” (b) Section 1402(a) of the Internal Revenue Code of 1954 (relating to definition of net earnings from self-employment) is amended— (1) by striking out “and” at the end of paragraph (9); (2) by striking out the period at the end of paragraph (10) and inserting in lieu thereof “; and”; and (3) by inserting after paragraph (10) the following new paragraph: “(11) in the case of an individual who has been a resident of the United States during the entire taxable year, the exclusion from gross income provided by section 911(a)(2) shall not apply.” (c) The amendments made by this section shall apply with respect to taxable years beginning after December 31, 1972.