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" INCOME. 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... "
Reports of the U.S. Board of Tax Appeals - Page 357
by United States. Board of Tax Appeals - 1939
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Income Tax Accounting

John F. Sherwood - 1925 - 205 pages
...shall be computed upon the net income of the estate or trust, and shall be paid by the fiduciary. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in section 212, except that — (1) There shall be allowed as a deduction (in...
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Federal Income and Estate Tax Laws: Correlated and Annotated, Being a ...

Walter Elbert Barton, United States, Carroll Wright Browning - 1925 - 549 pages
...both of income of the class described in paragraph (4) of subdivision (a) of this section and other income, the net income of the estate or trust shall be computed and a return thereof made by the fiduciary in accordance with subdivision (b) and the tax shall be...
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Report of the Joint Committee on Internal Revenue Taxation

United States. Congress. Joint Committee on Internal Revenue Taxation - 1927
...(relating to revocable trusts) and section 167 (relating to income for benefit of the grantor). SEC. 162. NET INCOME. The net income of the estate or trust...basis as in the case of an individual, except that— (a) There shall be allowed as a deduction (in lieu of the deduction for charitable, etc., contributions...
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Comparison of the Revenue Acts of 1926 and 1928: With Index

United States - 1928 - 247 pages
...net income of the estate or trust, and shall be paid by the fiduciary. * * * SEC. 219 (b) * * * The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in section 212, except that — (1) There shall be allowed as a deduction (in...
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Statistics of Income, Part 1

United States. Internal Revenue Service - 1950
...credits provided for individuals apply also to estates and trusts. Net income of an estate or trust is computed in the same manner and on the same basis as in the case of an individual, except that there is allowed as a deduction, in lieu of the deduction for contributions to charitable, religious,...
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Statistics of Income for ...

1953
...a portion is distributable to beneficiaries. In general, the net income of an estate or a trust is computed in the same manner and on the same basis as in the case of individuals, except that in lieu of the deduction for contributions to charitable, religious, scientific,...
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Income Tax Procedure

Robert Hiester Montgomery - 1923
...others are not, the fiduciary in every case is required to make a return of income The net income of an estate or trust shall be computed in the same manner and on the same basis as the net income of an individual, except that in place of the deduction allowed individuals...
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Regulations 74 Relating to the Income Tax Under the Revenue Act of 1928

United States. Internal Revenue Service - 1931 - 491 pages
...(relating to income for benefit of the grantor). For return made by beneficiary, see section 143. SEC. 162. NET INCOME. The net income of the estate or trust...basis as in the case of an individual, except that — (a) There shall be allowed as a deduction (in lieu of the deduction for charitable, etc., contributions...
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Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - 1933 - 423 pages
...(relating to income for benefit of the grantor). For return made by beneficiary, see section 142. SEC. 162. NET INCOME. The net income of the estate or trust...basis as in the case of an individual, except that— (a) There shall be allowed as a deduction (in lieu of the deduction for charitable, etc., contributions...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 290

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1934
...shall be computed upon the net income of the estate or trust, and shall be paid by the fiduciary. The net income of the estate or trust shall be computed in the same manner and on the same basis as provided in section 212, except that — . . . Opinion of the Court. 290 US which lay...
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