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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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Rent-to-own: Providing Opportunities Or Gouging Consumers ..., Volume 4

United States. Congress. House. Committee on Banking, Finance, and Urban Affairs, United States - 1993 - 755 pages
...held by the taxpayer (whether or not connected with his trade or business) , but does not include (1) 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; IRC 1221 (1992). Section 79-32,...
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Study of the Overall State of the Federal Tax System and Recommendations for ...

United States. Congress. Joint Committee on Taxation - 2001
...property held by the taxpayer other than certain listed exceptions. A principal exception applies to "stock in trade of the taxpayer or other property...taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business."58 This exception is intended...
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United States Statutes at Large

United States Department of State - 1939
...Title 31, 754). SEC. 117. CAPITAL GAINS AND LOSSES. (a) DEFINITIONS. As used in thisl chapter (1) CAPITAL ASSETS. The term "capital assets"...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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Practical Guide to Mergers, Acquisitions and Business Sales

Joseph B. Darby - 2006 - 512 pages
...generating ordinary income on sale, include the following (enumerated to conform to Code Sec. 1221 (a)): (1) 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;4 (2) property, used in his trade...
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Income Tax Regulations: Winter 2008 Edition

CCH Tax Law Editors - 2007 - 1170 pages
...Regardless of use in an active trade or business, section 367(a)(l) shall apply to the transfer of (1) 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 its trade or business; and (2) A copyright, a literary,...
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Federal Estate & Gift Taxes: Code & Regulations (Including Related Income ...

CCH Incorporated, CCH Tax Law Editors - 2008 - 1624 pages
...by the taxpayer (whether or not connected with his trade or business), but does not include (1) 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; (2) property, used in his trade...
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