Reports of the Tax Court of the United States, Volume 3U.S. Government Printing Office, 1945 Final issue of each volume includes table of cases reported in the volume. |
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agreed agreement amended amount applied assets assignment bank basis beneficiary bonds capital stock cash certificates certiorari claimed COMMISSIONER OF INTERNAL common stock contract corporation corpus Court death debentures decedent decedent's December 31 deduction deficiency determined distributed dividends Docket drilling earnings estate tax excess profits tax executors expenses fair market value Fidelity Trust Co filed FINDINGS OF FACT follows gain gift tax grantor gross estate gross income held Helvering included income tax income tax returns indebtedness interest Internal Revenue Code issue January June 30 land lease liability liquidation loans ment mortgage net income obligation opinion paid parties partnership payable payment Pepsi-Cola percent peti petitioner policies preferred stock premiums prior purchase purpose question received referred respect respondent Revenue Act royalties section 23 securities settlor shares statute stipulated stockholders supra taxable taxpayer Texas thereof tion tioner transfer trust instrument
Popular passages
Page 194 - Includes gains, profits, and Income derived from salaries, wages, or compensation for personal service, of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and Income derived from any...
Page 594 - Rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or Is not taking title or In which he has no equity.
Page 263 - There shall be allowed as an additional deduction in computing the net income of the estate or trust the amount of the income of the estate or trust for its taxable year which is to be distributed currently...
Page 263 - ... the net income of the estate or trust the amount of the income of the estate or trust for its taxable year which is properly paid or credited during such year to any legatee, heir, or beneficiary...
Page 45 - The net income of the estate or trust shall be computed in the same manner and on the same basis as in the case of an individual...
Page 45 - (a) There shall be allowed as a deduction (In lieu of the deduction for charitable, etc., contributions authorized by section 23 (n)) any part of the gross Income, without limitation, which pursuant to the terms of the will or deed creating the trust. Is during the taxable year paid or permanently set aside...
Page 674 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 607 - ... exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 615 - That for the purpose of the tax the value of the net estate shall be determined— (a) In the case of a resident, by deducting from the value of the gross estate...
Page 463 - 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 if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...