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acquired activity addition adjusted allocation allowed amends amount apply assessment assets attributable base basis beginning believed benefits capital carryover Code Congress considered contract contributions corporation costs Court December 31 deduction depreciation determination distribution dividend earned effect Effective date election employee estate tax example excess exchange exempt expenses extent farm Federal filed fiscal foreign gain gift gross held income tax increase individual intended interest Internal Revenue investment issue liability limited loss ment method million operating ordinary organization paid partnership payment percent period permitted person present prior law production profits provision purchase qualified Reasons recapture receipts received reduced regulations relating respect result risk rules securities Service shareholders tax credit tax return taxable taxpayer tion trade or business transaction transfer treated treatment trust United
Page 275 - ... possession of the United States; and ***** (3) If, in the case of such citizen, 50 per centum or more of his gross income (computed without the benefit of this section) for such period or such part thereof was derived from the active conduct of a trade or business within a possession of the United States either on his own account or as an employee or agent of another.
Page 589 - ... intended to take effect in possession or enjoyment at or after his death, or of which he has at any time made a transfer, by trust or otherwise, under which he has retained for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...
Page 583 - For purposes of the tax imposed by section 2001, the value of the taxable estate shall, except as limited by subsections (b), (c), and (d), be determined by deducting from the value of the gross estate an amount equal to the value of any interest in property which passes or has passed from the decedent to his surviving spouse, but only to the extent that such interest is included in determining the value of the gross estate.
Page 426 - ... 50 percent of the excess of net long-term capital gains over net short-term capital losses.
Page 226 - If before the transfer it has been established to the satisfaction of the Commissioner that the transfer is not in pursuance of a plan having as one of its principal purposes the avoidance of Federal income taxes.
Page 92 - ... with respect to a partner who sells or exchanges less than his entire interest in the partnership or with respect to a partner whose interest is reduced, but such partner's distributive share of items described in section 702 (a) shall be determined by taking into account his varying interests in the partnership during the taxable year.
Page 380 - Extensive hearings followed before the House Committee on Ways and Means, and the Senate Committee on Finance.
Page 457 - ... the determination of the amount of such rent depends in whole or in part on the income or profits derived by any person from the property leased (other than an amount based on a fixed percentage or percentages of receipts or sales).
Page 299 - Property with respect to which a deduction for depletion is allowable under section 611 but not under section 613, and (4) All other remaining properties.