The Code of Federal Regulations of the United States of America

Front Cover
U.S. Government Printing Office, 1990
The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government.
 

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Page 328 - 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 219 - ... accounts or notes receivable acquired in the ordinary course of trade or business for services rendered...
Page 65 - 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 47 - 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 279 - ... (C) Except in the case of distributions in liquidation, between two corporations more than 50 per centum in value of the outstanding stock of each of which is owned, directly or indirectly, by or for the same individual...
Page 157 - This paragraph shall not apply to property acquired by a corporation by the Issuance of Its stock or securities as the consideration In whole or In part for the transfer of the property to It; "(7) Transfers to corporation where control of property remains In same persons.
Page 219 - Is subject to the allowance for depreciation provided in section 23 (1), or an obligation of the United States or any of its possessions, or of a State or Territory, or any political subdivision thereof, or of the District of Columbia, Issued on or after March 1, 1941, on a discount basis and payable without Interest at a fixed maturity date not exceeding one year from the date of issue, or real property used in the trade or business of the taxpayer; (2) Short-term capital gain. The term "short-term...
Page 82 - No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment.
Page 225 - 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 428 - 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.

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