42 U.S.C. § 412 : US Code - Section 412: Self-employment income credited to calendar years

Search 42 U.S.C. § 412 : US Code - Section 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.