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" In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in... "
United States Statutes at Large - Page 14
by United States - 1939
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United States Reports: Cases Adjudged in the Supreme Court, Volume 308

United States. Supreme Court - 1940 - 894 pages
...tear of property used in the trade or business, including a reasonable allowance for obsolescence. In the case of property held by one person for life...on the basis of the trust income allocable to each. 1 32 BTA 633. The Board found the depreciable life of the property to be fifty years, instead of forty...
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Cases Decided in the Court of Claims of the United States, Volume 111

United States. Court of Claims - 1948 - 886 pages
...tear of property used In the trade or business. Including a reasonable allowance for obsolescence. In the case of property held by one person for life...on the basis of the trust Income allocable to each. * . * * * * (o) CHARITABLE AND OTHIB CONTRIBUTIONS. — In the case of an Individual, contributions...
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Cases Decided in the Court of Claims of the United States, Volume 102

United States. Court of Claims - 1945 - 952 pages
...tear of property used in the trade or business, including a reasonable allowance for obsolescence. In the case of property held by one person for life...on the basis of the trust income allocable to each. Opinion of the Court Treasury Regulations 86 and 94 provided as follows : ART. 23 (Z)-1. Depreciation....
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Comparison of the Revenue Acts of 1926 and 1928: With Index

United States - 1928 - 268 pages
...tear of property used in the trade or business, including a reasonable allowance for obsolescence. In the case of property held by one person for life...on the basis of the trust income allocable to each. (1) Depletion. — In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable...
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Reports of the Joint Committee on Internal ..., Volumes 1-2; Volumes 8-11

United States. Congress. Joint Committee on Internal Revenue Taxation - 1927 - 626 pages
...prescribed by the commissioner, with the approval of the Secretary. In the case of leases the deduction shall be equitably apportioned between the lessor...income allocable to each. (For percentage depletion in case of oil and gas wells, see sec. 114 (b) (3).) REPORTS ON INTERNAL REVENUE TAXATION (m) Basis...
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Regulations 74 Relating to the Income Tax Under the Revenue Act of 1928

United States. Internal Revenue Service - 1931 - 502 pages
...tear of property used in the trade or business, including a reasonable allowance for obsolescence. In the case of property held by one person for life...on the basis of the trust income allocable to each. ART. 201. Depreciation. — A reasonable allowance for the exhaustion, wear and tear, and obsolescence...
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Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932

United States. Bureau of Internal Revenue - 1933 - 452 pages
...tear of property used in the trade or business, Including a reasonable allowance for obsolescence. In the case of property held by one person for life...on the basis of the trust income allocable to each. ART. 201. Depreciation.—A reasonable allowance for the exhaustion, wear and tear, and obsolescence...
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Revenue Act of 1935: Hearings Before the Committee on Finance, United States ...

United States U.S. Congress. Senate. Committee on finance - 1935 - 420 pages
...full cost of any property actually acquired after September 1, 1935, and prior to December 31, 1936. In the case of property held by one person for life...on the basis of the trust income allocable to each. Our motive in suggesting this amendment rests in the conviction that greater activity of our durable-goods...
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Revenue Act of 1935: Hearings Before the Committee on Finance, United States ...

United States. Congress. Senate. Committee on Finance - 1935 - 422 pages
...full cost of any property actually acquired after September 1, 1935, and prior to December 31, 1936. In the case of property held by one person for life...on the basis of the trust income allocable to each. Our motive in suggesting this amendment rests in the conviction that greater activity of our durable-goods...
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Regulations 86 Relating to the Income Tax Under the Revenue Act of 1934

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - 1935 - 502 pages
...be wholly or partially worthless and charged against the reserve account during the taxable year. 54 property held in trust the allowable deduction shall...on the basis of the trust income allocable to each. ART. 23(1)-1. Depreciation. — A reasonable allowance for the exhaustion, wear and tear, and obsolescence...
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