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" If, during the taxable year, the recognized gains upon sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure,... "
Federal Income, Estate and Gift Tax Laws, Correlated - Page 314
by United States, Walter Elbert Barton - 1944 - 1242 pages
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Reports of the Tax Court of the United States, Volume 44

United States. Tax Court - 1965
...provided in part as follows : (a) GENERAL RULE. — If, during the taxable year, the recognized gains on sales or exchanges of property used In the trade or...losses from sales or exchanges of capital assets. For purposes of this subsection — • •••••• (2) losses upon the destruction, In whole or...
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Legislative History of the Internal Revenue Code of 1954 ..., Volumes 8-11

Floyd Morse Hubbard, United States. Congress. Joint Committee on Internal Revenue Taxation - 1967 - 1374 pages
...follows (68A Stat. 325) : "(a) GENERAL RULE. — If, during the taxable year, the recognized gains on sales or exchanges of property used in the trade or...losses from sales or exchanges of capital assets. For purposes of this subsection — "(0 in determining under this subsection whether gains exceed losses,...
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Reports of the Tax Court of the United States, Volume 47

United States. Tax Court - 1967
...taxable year, the recognized gains on sales or eichanges of property used In the trade or business, plug the recognized gains from the compulsory or Involuntary...considered as gains and losses from sales or exchanges of capital assets. • • * • * * * • • • (b) DEFINITION OP PROPERTY USED IN THE TRADE OR...
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The Code of Federal Regulations of the United States of America

1967
...In the trade or business, plus the recognized gnlus from the compulsory or involuntary conversation (as a result of destruction In whole or In part, theft...capital assets held for more than 6 months. If such gams do not exceed such losses, such gains and losses shall not be considered as gains and losses from...
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Reports of the Tax Court of the United States, Volume 21

United States. Tax Court - 1954
...INVOLUNTARY CONVERSION AND FBOM THE SALE OB EXCHANGI OF CERTAIN PROPERTY USED IN THE TRADE OR BUSINESS. — (2) GENERAL RULE. — If, during the taxable year,...capital assets. For the purposes of this paragraph : (A) In determining under this paragraph whether gains exceed losses, the gaini described therein...
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Internal Revenue Cumulative Bulletin

United States. Internal Revenue Service - 1974
...(a) of the Code provides, in part, as follows: If, during the taxable year, the recognized gains on sales or exchanges of property used in the trade or...considered as gains and losses from sales or exchanges of capital assets. Section 1231 (b) of the Code defines property "used in the trade or business" for...
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Reports of the United States Tax Court, Volume 23

United States. Tax Court - 1956
...upon sales or exchanges of property used In the trade or business, plus the recognized gains from tlie compulsory or Involuntary conversion (as a result...considered as gains and losses from sales or exchanges of capital assets. • • * by section 151 (b) of the Revenue Act of 1042, and are subject to the...
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Reports of the Tax Court of the United States, Volume 56

United States. Tax Court - 1971
...AND INVOLUNTARY CONVERSIONS. (a) GENERAL RULE.—If, during the taxable year, the recognized gains on sales or exchanges of property used In the trade or...capital assets held for more than 6 months. If such Stains do not exceed such losses, such gains and losses shall not be considered as sains and losses...
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Internal Revenue Cumulative Bulletin

United States. Internal Revenue Service - 1973
...pertinent part, as follows: (a) GENERAL RULE.— If, during the taxable year, the recognized gains on sales or exchanges of property used in the trade or...or exchanges of capital assets held for more than 6 months. * • • Section 1238 of the Code provides that gain from the sale or exchange of property,...
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Reports of the Tax Court of the United States, Volume 20

United States. Tax Court - 1954
...hereinafter. or Imminence thereof) of property used In the trade or business and capital assets held (or more than 6 months Into other property or money, exceed...capital assets. For the purposes of this paragraph : (A) In determining under this paragraph whether gains exceed losses, the trains and losses described...
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