[Code of Federal Regulations]
[Title 20, Volume 2]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR404.144]

[Page 68-69]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
               CHAPTER III--SOCIAL SECURITY ADMINISTRATION
 
PART 404_FEDERAL OLD-AGE, SURVIVORS AND DISABILITY INSURANCE (1950	 )
--Table of Contents
 
            Subpart B_Insured Status and Quarters of Coverage
 
Sec. 404.144  How we credit self-employment income to calendar years 
for taxable years beginning after 1977.

    In crediting quarters of coverage under Sec. 404.143(a), we credit 
self-employment income you derived during a taxable year that begins 
after 1977 to calendar years as follows:
    (a) If your taxable year is a calendar year or begins and ends 
within the same calendar year, we credit your self-employment income to 
that calendar year.
    (b) If your taxable year begins in one calendar year and ends in the 
following

[[Page 69]]

calendar year, we allocate proportionately your self-employment income 
to the two calendar years on the basis of the number of months in each 
calendar year which are included completely within your taxable year. We 
consider the calendar month in which your taxable year ends as included 
completely within your taxable year.

    Example: For the taxable year beginning May 15, 1978, and ending May 
14, 1979, your self-employment income is $1200. We credit 7/12 ($700) of 
your self-employment income to calendar year 1978 and 5/12 ($500) of 
your self-employment income to calendar year 1979.