Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and IndexDivision of the Federal Register, the National Archives, 2000 Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
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Common terms and phrases
accrual period additional depreciation adjusted basis allocated amount of gain amount realized apply basis of property bond capital gain computed debt instru debt instrument December 31 determined disposition distribution earnings and profits erty exchange group fair market value gain or loss gain realized gain recognized gift gift tax graph gross income held holder holding period identified included income under section Internal Revenue Code January justment long-term capital gain long-term capital loss maturity ment mixed straddle obligation option ordinary income paragraph partnership percent poration portion prop property acquired purchase purposes of section pursuant put option qualified intermediary real property recognized under section replacement property respect sale or exchange section 1250 property section 1254 costs section 1256 contract series E bond shareholder sold Special rules spect stock or securities strument subdivision subpara subparagraph taxable income taxable years beginning taxpayer term tion trade or business trans transfer treated
Popular passages
Page 57 - If the property was acquired after December 31, 1920, by a transfer in trust (other than by a transfer in trust by a bequest or devise) the basis shall be the same as it would be in the hands of the grantor, increased in the amount of gain or decreased in the amount of loss recognized to the grantor upon such transfer under the law applicable to the year in which the transfer was made.
Page 369 - It has been established to the satisfaction of the Secretary or his delegate that such exchange Is not In pursuance of a plan having as one of Its principal purposes the avoidance of Federal Income taxes.
Page 72 - Whenever it appears that the basis of property in the hands of the taxpayer is a substituted basis, then the adjustments provided in paragraph (1) of this subsection shall be made after first making in respect of such substituted basis proper adjustments of a similar nature in respect of the period during which the property was held by the transferor, donor, or grantor, or during which the other property was held by the person for whom the basis is to be determined. A similar rule shall be applied...
Page 197 - It shall be the duty of the Commission, as soon as practicable after January 1, 1938: (1) To require by order, after notice and opportunity for bearing, that each registered holding company, and each subsidiary company thereof, shall take such action as the Commission shall find necessary to limit the operations of the holding-company system of which such company is a part to a single Integrated public-utility system, and to such other businesses as are reasonably incidental, or economically necessary...
Page 266 - If, during the taxable year, the recognized gains on sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or the threat or imminence thereof...
Page 56 - If the property was acquired by gift after December 31, 1920, the basis shall be the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift...
Page 199 - affiliated group" means one or more chains of corporations connected through stock ownership with a common parent corporation If — (1) At least 95 per centum of the stock of each of the corporations (except the common parent corporation) is owned directly by one or more of the other corporations; and...
Page 119 - One year after the close of the first taxable year in which any part of the gain upon the conversion Is realized...
Page 466 - This paragraph shall not apply to a disposition to an organization (other than a cooperative described in section 521) which, is exempt from the tax imposed by this chapter.
Page 79 - ... like kind to be held either for productive use in trade or business or for investment.