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" capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer... "
Federal Income, Estate and Gift Tax Laws, Correlated - Page 299
by United States, Walter Elbert Barton - 1944 - 1242 pages
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 345

United States. Supreme Court - 1953
...under that sec«"SEC. 117. CAPITAL GAINS AND LOSSES. "(a) DEFINITIONS. — As used in this chapter — "(1) CAPITAL ASSETS. — The term 'capital assets'...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in the trade...
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Cases Decided in the United States Court of Claims, Volume 86

United States. Court of Claims - 1938
...capital deductions. (8) "Capital assets" means property held by the taxpayer for more than two years (whether or not connected with his trade or business),...taxable year, or property held by the taxpayer primarily for sale in the course of his trade or business. * * *. [Italics supplied.] The Commissioner of Internal...
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Cases Decided in the United States Court of Claims ... with ..., Volume 126

United States. Court of Claims, Audrey Bernhardt - 1954
...section 117. The definition of "capital assets" as it appears in section 117 (a) (1) reads as follows: Capital Assets. — The term "capital assets" means...of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable...
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The Laws of Wisconsin

Wisconsin - 1935
...centum if the capital asset has been held for more than 10 years. 2. For the purposes of this paragraph, "capital assets" means property held by the taxpayer...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business. 3. For the purpose of paragraph...
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Wisconsin Session Laws

Wisconsin - 1935
...centum if the capital asset has been held for more than 10 years. 2. For the purposes of this paragraph, "capital assets" means property held by the taxpayer...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business. 3. For the purpose of paragraph...
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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - 1924 - 363 pages
...deductions; and (8) The term "capital assets " means property held by the. taxpayer for more than two years (whether or not connected with his trade or business:),...taxable year, or property held by the taxpayer primarily for sals in the course of his trade or business. (b) In the case of any taxpayer (other than a corporation)...
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Questions and Answers on Federal Tax Laws: Based on Revenue Act of 1924 and ...

Irving Bank-Columbia Trust Company - 1925 - 143 pages
...deductions; and (8) The term "capital assets" means property held by the taxpayer for more than two years (whether or not connected with his trade or business),...taxable year, or property held by the taxpayer primarily for sale in the course of his trade or business. (b) In the case of any taxpayer (other than a corporation)...
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Income Tax Accounting

John F. Sherwood - 1925 - 205 pages
...capital gain; (8) The term "capital assets" means property held by the taxpayer for more than two years (whether or not connected with his trade or business),...taxable year, or property held by the taxpayer primarily for sale in the course of his trade or business. (b) In the case of any taxpayer (other than a corporation)...
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Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means ...

United States. Congress. House. Committee on Ways and Means - 1927 - 1014 pages
...follows : " The term ' capital assets ' means property held by the taxpayer for more than two years (whether or not connected with his trade or business),...taxable year, or property held by the taxpayer primarily for sale in the course of his trade, or business." • (The italicized words are the important addition.)...
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Report of the Joint Committee on Internal Revenue Taxation

United States. Congress. Joint Committee on Internal Revenue Taxation - 1927
...assets" means property held by the taxpayer for more than two years (whether or not connected with his_ trade or business), but does not include stock in...taxable year, or property held by the taxpayer primarily for sale in the course of his trade or business. For the purposes of this definition — (A) In determining...
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