...basis of such property in the hands of a taxpayer described in subparagraph (A) or (B); (4) Accounts or notes receivable acquired In the ordinary course of...for services rendered or from the sale of property described In paragraph (1); or (5) An obligation of the United States or any of Its possessions, or...

...the copyright law. (d) Section 1221 (4) excludes from the definition of "capital asset" accounts or notes receivable acquired in the ordinary course of...business for services rendered or from the sale of stock in trade or inventory or property held for sale to customers in the ordinary course of trade...

...the copyright law. (d) Section 1221 (4) excludes from the definition of "capital asset" accounts or notes receivable acquired in the ordinary course of...business for services rendered or from the sale of stock in trade or inventory or property held for sale to customers in the ordinary course of trade...

...the copyright law. (d) Section 1221 (4) excludes from the definition of "capital asset" accounts or notes receivable acquired in the ordinary course of...business for services rendered or from the sale of stock in trade or Inventory or property held for sale to customers in the ordinary course of trade...

...of capital asset accounts or notes receivable acquired in the ordi26 CFR Ch. I (4-1-94 Edition) nary course of trade or business for services rendered or from the sale of stock in trade or inventory or property held for sale to customers in the ordinary course of trade...

...1221, paragraph 4, is a new provision which excepts from the definition of capital assets accounts or notes receivable acquired in the ordinary course of...for services rendered, or from the sale of property (inventory) held by taxpayer primarily for sale to customers in the ordinary course of his trade or...

...business but which has been held for a period of six months or less (section 1221(2)), and (2) Accounts or notes receivable acquired in the ordinary course of...business for services rendered or from the sale of inventory (section 1221(4) ). This would include accounts receivable of an accrual basis partnership...

...business but which has been held for a period of six months or less (section 1221(2)), and (2) Accounts or notes receivable acquired in the ordinary course of...business for services rendered or from the sale of inventory (section 1221(4)). This would include accounts receivable of an accrual basis partnership...

...obligations issued on or after March 1, 1941, at a discount payable without interest and maturing at a fixed date not exceeding one year from date of issue; (!)...sale of property referred to in (a) or (b) above. Special rules apply to dealers in securities for determining capital gain or ordinary loss on the sale...

...literary, musical, or artistic compositions. letters or memorandums, or similar property; (4) accounts or notes receivable acquired in the ordinary course of...for services rendered or from the sale of property described in (1) above; or (5) certain short-term Federal, State, and municipal obligations issued...