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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... "
Report of the Joint Committee on Internal Revenue Taxation - Page 24
by United States. Congress. Joint Committee on Internal Revenue Taxation - 1927
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United States Reports: Cases Adjudged in the Supreme Court, Volume 345

United States. Supreme Court - 1953 - 874 pages
...— The term 'capital assets' means property held by the taxpayer (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 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 Court of Claims of the United States, Volume 86

United States. Court of Claims - 1938 - 834 pages
...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...taxpayer primarily for sale in the course of his trade or business. * * *. [Italics supplied.] The Commissioner of Internal Eevenue held in his construction...
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Cases Decided in the United States Court of Claims ... with ..., Volume 122

United States. Court of Claims, Audrey Bernhardt - 1952 - 936 pages
...— The term "capital assets" means property held by the taxpayer (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 to customers in the ordinary course of his trade or business, * * *. The contract with Twentieth...
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Cases Decided in the United States Court of Claims ... with ..., Volume 126

United States. Court of Claims, Audrey Bernhardt - 1954 - 1160 pages
...— The term "capital assets" means property held by the taxpayer ( whether or not connected with his trade or business), but does not include stock in...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 - 1308 pages
...paragraph, "capital assets" means property held by the taxpayer (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 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 - 1310 pages
...paragraph, "capital assets" means property held by the taxpayer (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 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 - 396 pages
...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 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 - 152 pages
...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...taxpayer primarily for sale in the course of his trade or business. (b) In the case of any taxpayer (other than a corporation) who for any taxable year derives...
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Income Tax Accounting

John F. Sherwood - 1925 - 206 pages
...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...taxpayer primarily for sale in the course of his trade or business. (b) In the case of any taxpayer (other than a corporation) who for any taxable year derives...
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Federal Income and Estate Tax Laws: Correlated and Annotated, Being a ...

Walter Elbert Barton, United States, Carroll Wright Browning - 1925 - 580 pages
...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 trade of the taxpayer or other property of CAPITAL GAIN. SEC. 206. (a) That for the purpose of this title : (1) The term "capital gain" means...
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