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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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United States Reports: Cases Adjudged in the Supreme Court, Volume 345

United States. Supreme Court - 1953
...year, the recognized gains upon sales or exchanges of property used in the trade or business . . . exceed the recognized losses from such sales, exchanges,...considered as gains and losses from sales or exchanges of capital assets. . . ." 56 Stat. 846, 26 USC 117 (j). 544 MINTON, J., dissenting. and in the absence...
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Cases Decided in the United States Court of Claims ... with ..., Volume 126

United States. Court of Claims, Audrey Bernhardt - 1954
...year, the recognized gains upon sales or exchanges of property used In the trade or business, plus tbe recognized gains from the compulsory or Involuntary...of capital assets held for more than 6 months. If snch gains do not exceed such losses, such gains and losses shall not be considered as gains and losses...
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Cases Decided in the United States Court of Claims ... with ..., Volume 113

United States. Court of Claims, Audrey Bernhardt - 1949
...recognized gains Opinion of the Court from the compulsory or involuntary conversion * * * of property used in the trade or business and capital assets held...or exchanges of capital assets held for more than 6 months. * * * It is undisputed that the two vessels sold by the partnership in 1941 had been owned...
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United States Code: Containing the General and Permanent Laws of the United ...

United States - 1953
...date of acquisition. Such term does not include poultry. 117 TITLE 26. INTERNAL REVENUE CODE 1117 (2) General rule. If, during the taxable year, the...or exchanges of capital assets held for more than в months. If such gains do not exceed such losses, such gains and losses shall not be considered as...
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Reports of the Tax Court of the United States, Volume 47

United States. Tax Court - 1967
...INVOLUNTARY CONVERSIONS. (a) GENERAL RULI. If, during the taxable year, the recognized (fains on sales or exchanges of property used In the trade or...considered as gains and losses from sales or exchanges of capital assets. * (b) DEFINITION or PROPERTY USED in HIE TBADB...
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Individual Income Tax Provisions of the Internal Revenue Code: Applicable to ...

United States. Congress. Joint Committee on Internal Revenue Taxation - 1944 - 312 pages
...term also includes timber with respect to which subsection (k) (1) or (2) is applicable. (2) GENEEAL RULE. If, during the taxable year, the recognized...capital assets. For the purposes of this paragraph (A) In determining under this paragraph whether gains exceed losses, the gains and losses described...
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Individual Income Tax Provisions of the Internal Revenue Code (second ...

United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 312 pages
...exchanges, and conversions such gains and losses shall be considered as gains and losses fror 75 sales or exchanges of capital assets held .for more than...capital assets. For the purposes of this paragraph (A) In determining under this paragraph whether gains exceed losses, the gains and losses described...
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Individual Income Tax Provisions of the Internal Revenue Code: Applicable to ...

United States. Congress. Joint Committee on Internal Revenue Taxation - 1946 - 385 pages
...business. Such term also includes timber with respect to which subsection (k) (1) or (2) is applicable. (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 gains and losses described...
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Reports of the Tax Court of the United States, Volume 7

United States. Tax Court - 1946
...Imminence thereof) of property used in the trade or business and capital assets held for more than 0 months into other property or money, exceed the recognized...capital assets. For the purposes of this paragraph : "(A) In determining under this paragraph whether gains exceed losses, the gains and losses described...
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Reports of the Tax Court of the United States, Volume 8

United States. Tax Court - 1947
...exchanges, and conversions, such gains and losses shall be considered as gains and loon from sales or exchanges of capital assets held for more than...capital assets. For the purposes of this paragraph ; (A) In determining under this paragraph whether gains exceed losses, the gains and losses described...
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