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, 1978 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
acquired additional depreciation adjusted basis adjusted gross income allowed amount of gain apply arbitrage attributable capital asset carryback carryover computed December 31 determined disposition distribution dividend duction earnings and profits electing small business election under section erty Example exceed excess deductions account fair market value filed foreign corporation gain or loss gain realized gain recognized graph gross income held holding period income tax income under section Internal Revenue Code issue price January justment long-term capital gain long-term capital loss ment months obligation operating loss option ordinary income original issue discount paid paragraph partnership payment percent poration portion prior taxable purchase pursuant relating respect sale or exchange section 1250 property shareholder short sale short-term capital loss small business corporation spect Statutory provisions subdivision subpara subparagraph subsection taken into account taxable income taxable years beginning taxpayer term tier corporation tion trade or business transaction treated
Popular passages
Page 351 - If property (as a result of its 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 423 - ... 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 363 - The performance of service by an individual as an employee or employee representative as defined in section 3231; (4) The performance of service by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...
Page 368 - Any individual who is (Da duly ordained, commissioned, or licensed minister of a church or a member of a religious order (other than a member of a religious order who has taken a vow of poverty as a member of such order) or...
Page 41 - ... property used in the trade or business and capital assets held for more than 6 months into other property or money, exceed the recognized losses from such sales, exchanges, and conversions, such gains and losses shall be considered as gains and losses from sales or exchanges of capital assets held for more than 6 months. If such gains do not exceed such losses, such gains and losses shall not be considered as gains and losses from sales or exchanges of capital assets.
Page 363 - However, for taxable years ending after 1954 and before 1968, any individual who is a duly ordained, commissioned, or licensed minister of a church or a member of a religious order (other than a member of a religious order who has taken a vow of poverty as a member of such order...
Page 37 - In determining the period for which the taxpayer has held property however acquired there shall be Included the period for which such property was held by any other person, if under...
Page 34 - ... a taxpayer in whose hands the basis of such property is determined, for purposes of determining gain from a sale or exchange, in whole or part by reference to the basis of such property in the hands of a taxpayer described in subparagraph (A...
Page 86 - ... shall not exceed the amount of gain recognized to the transferor on the transfer of such property (determined without regard to this section). 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 200 - ... (3) Certain tax-free transactions. If the basis of property in the hands of a transferee is determined by reference to its basis in the hands of the transferor by reason of the application of section 332...