 | United States. Congress. House. Committee on Ways and Means - 1950 - 982 pages
...regularly sells or disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment...payments actually received in that year which the gross profit realized or to be realized when payment is completed, bears to the total contract pdice."... | |
 | United States, Walter Elbert Barton - 1950 - 1126 pages
...bears to the total contract price. Sec. 44. (b) Sales of realty and casual sales of personalty.—In the case (1) of a casual sale or other casual disposition of personal property (other than property of a kind which would properly be included in the inventory of the taxpayer if... | |
 | United States. Tax Court - 1951 - 1050 pages
...disposes of personal property on the Installment plan may return as Income therefrom In any taxahle year that proportion of the Installment payments actually received In that year which the gross profit realized or to be realized when payment Is completed, bears to the total contract price.... | |
 | United States. Tax Court - 1953 - 1328 pages
...not title remains in the vendor until the property is fully paid for, may return as income therefrom in any taxable year that proportion of the installment...payments actually received in that year which the total or gross profit (that is, sales less cost of goods sold) realized or to be realized when the property... | |
 | United States. Congress. House. Committee on Ways and Means - 1953 - 1536 pages
...personalty) is hereby amended to read as follows: "'(b) SALES OF REALTY AND CASUAL SALES OF PERSON ALTT. — In the case (1) of a casual sale or other casual disposition of personal property (other than property of a kind which would properly be included in the inventory of the taxpayer if... | |
 | United States. Internal Revenue Service - 1954 - 1182 pages
...transactions included in section 39.44-2(b) (1), the vendor may return as Income from such transactions in any taxable year that proportion of the installment...the total profit realized or to be realized when the property Is paid for bears to Hie total contract price. ******* PAR. 6. Section 39.44-4(a) is amended... | |
 | United States. Tax Court - 1954 - 1158 pages
...44. INSTALLMENT BASIS. • •••••• (b) SALES OF REALTY AND CASUAL SALES op PERSONALTY. — In the case (1) of a casual sale or other casual disposition...of personal property * * • for a price exceeding ?1,000, or (2) of a sale or other disposition of real property, If In either case the Initial payments... | |
 | United States. Internal Revenue Service - 1954 - 726 pages
...not title remains in the vendor until the property is fully paid for, may return as income therefrom in any taxable year that proportion of the installment...payments actually received in that year which the total or cross profit (that is, sales less cost of goods sold) realized or to be realized when the property... | |
 | United States. Tax Court - 1954 - 1170 pages
...properly be Included In the Inventory of the taxpayer If on hand at the close of the taxable year), for a price exceeding $1,000, or (2) of a sale or other disposition of reaJ, 300431"— 54 12 The short answer is that the petitioner and his wife, having exercised in their... | |
 | United States. Internal Revenue Service - 1955 - 1158 pages
...provides in part that under the installment basis, there is reportable as income in any taxable year only that proportion of the installment payments actually received in that year which the gross profit realized or to be realized when payment is completed bears to the total contract price.... | |
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BASIS. (a) DEALERS IN PERSONAL PROPERTY. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom... 
