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" capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer... "
Federal Income, Estate and Gift Tax Laws, Correlated - Page 299
by United States, Walter Elbert Barton - 1944 - 1242 pages
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United States Code: Containing the General and Permanent Laws of the United ...

United States - 1953
...total amount received or accrued during such period from the sale, exchange, or other disposition of 941 +For sale by the Supt. of Docs., U.S. G.P.O." "...partnership " succeeding taxable year; (c) In the case of for sale to customers in the ordinary course of its trade or business; reduced by the amount of discounts,...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 356

United States. Supreme Court - 1958
...was taxable as ordinary income, subject to depletion. 4Section 117 (a)(l) provides in relevant part: "The term 'capital assets' means property held by...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in the trade...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 356

United States. Supreme Court - 1958
...was taxable as ordinary income, subject to depletion. 4 Section 117 (a)(1) provides in relevant part: "The term 'capital assets' means property held by...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in the trade...
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Tax Cases Decided with Opinions by the Supreme Court of the United States

Congress. Internal Revenue Taxation Joint Committee - 1959
...burdens on gains resulting from a conversion of capital 4 Section 117 (a) (1) provides in relevant part: "The term 'capital assets' means property held by...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in the trade...
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Tax Revision Compendium: Compendium of Papers on Broadening the ..., Volume 2

United States. Congress. House. Committee on Ways and Means - 1959 - 2382 pages
...all-important exclusions from "capital assets."' The first is that, in section 1221 ( 1 ) , of — stock in trade of the taxpayer or other property of...taxable year, or property held by the taxpayer primarily for sale to customers inthe ordinary course of his trade or business. * * * * The main objective of...
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Reports of the Tax Court of the United States, Volume 31

United States. Tax Court - 1959
...by the taxpayer (whether or not connected with his trade or business), but does not Include— (A) stock In trade of the taxpayer or other property of...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary coarse of his trade or buslnesi ; from the sale of stock of Canyon...
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Cases Decided in the United States Court of Claims ... with ..., Volume 143

United States. Court of Claims, Audrey Bernhardt - 1960
...by the taxpayer (whether or not connected with his trade or business), bat does not include — "(A) stock in trade of the taxpayer or other property of...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business ; "(B) property, used in hla...
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Internal Revenue Code of 1954, as Amended and in Force on January 3, 1961

United States, United States. Congress. Joint Committee on Internal Revenue Taxation - 1961 - 1148 pages
...by the taxpayer (whether or not connected with his trade or business), but does not include— (1) TSIDE SALESMEN. — The deductions allowed by part...as an employee and if such trade or business is to for sale to customers in the ordinary course of his trade or business ; (2) property, used in his trade...
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Reports of the Tax Court of the United States, Volume 5

United States. Tax Court - 1945
...they are subject to the limitation as determined by the Commissioner. Section 117 (a) (1) provides: The term "capital assets" means property held by the...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in the trade...
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Reports of the Tax Court of the United States, Volume 8

United States. Tax Court - 1947
...117. CAPITAL GAINS AND LOSSES. (a) DEFINITIONS.—As used In this chapter— (1) CAPITAL ASSETS.—The term "capital assets" means property held by the taxpayer...taxable year, or property held by the taxpayer primarily for sale to customers In the ordinary course of his trade or business, or property, used In the trade...
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