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" ... there shall be included in computing the net income of each beneficiary his distributive share, whether distributed or not, of the net income of the estate or trust for the taxable year... "
Cases Decided in the United States Court of Claims - Page 228
by United States. Court of Claims - 1928
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Income Tax Accounting

John F. Sherwood - 1925 - 205 pages
...only in their individual capacity. There shall be included in computing the net income of each partner his distributive share, whether distributed or not, of the net income of the partnership for the taxable year, or, if his net income for such taxable year is computed upon the...
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Treasury Decisions Under Internal Revenue Laws of the United States, Volume 27

United States. Internal Revenue Service - 1926
...properly paid or credited to any legatee, heir, or other beneficiary. Subdivision (d) provides that there shall be included in computing the net income...whether distributed or not, of the net income of the estate or trust for the taxable year. A regulation of the Treasury Department has construed and interpreted...
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Reports of the U.S. Board of Tax Appeals, Volume 1

United States. Board of Tax Appeals - 1926
...net income upon which tax is to be paid by the fiduciary, the tax shall not be paid by the fiduciary, but there shall be included in computing the net income of each beneficiary that part of the income of the estate or trust for its taxable year which, pursuant to the Instrument...
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The Laws of Wisconsin

Wisconsin - 1927
...in their individual capacity. There shall be included in computing the * * * income of each partner his distributive share, whether distributed or not, of the net income of the partnership for the * * * income year, or if his * * * net income for such * * * income year is computed...
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Report of the Joint Committee on Internal Revenue Taxation

United States. Congress. Joint Committee on Internal Revenue Taxation - 1927
...PARTNERS. (a) General rule. There shall be included in computing the net income of each partner his distributive share, whether distributed or not, of the net income of the partnership for the taxable year, pr, if his net income for such taxable year is computed upon the...
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Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means ...

United States. Congress. House. Committee on Ways and Means - 1927 - 1014 pages
...of the corporation include (at the time of filing their returns) in their gross income their entire distributive share, whether distributed or not, of the net income of the corporation for such year." The rest of it merely elaborates on it. Now, that is fine so far as dividends...
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Comparison of the Revenue Acts of 1926 and 1928: With Index

United States - 1928 - 247 pages
...capacity. * * * SEC. 218. (a) * * * There shall be included in computing the net income of each partner his distributive share, whether distributed or not, of the net income of the partnership for the taxable year, or, if his net income for such taxable year is computed upon the...
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Reports of the U.S. Board of Tax Appeals, Volume 7

United States. Board of Tax Appeals - 1928
...income upon which tax is to be paid by the fiduciary, the tnx shall not be paid by the fiduciary, Inn there shall be included In computing the net income of each beneficiary that part of the Income of the estate or trust for its taxable year which, pursuant to the instrument...
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Treasury Decisions Under Internal Revenue Laws of the United States, Volume 30

United States. Internal Revenue Service - 1929
...she was entitled to the deduction for depreciation. It seems to be conceded that attention need only be given the revenue act of 1918, so far as the material...the net income of each beneficiary his distributive shares, whether distributed or not, of the net income" of the trust for the taxable year. The trust...
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Income Tax Procedure

Robert Hiester Montgomery - 1920
...taxed: section 218 (a) ". . . . There shall be included in computing the net income of each partner his distributive share, whether distributed or not, of the net income of the partnership for the taxable year " It is imperative that unlawful accumulations be taxed as if the...
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