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CHAPTER HINTERNAL REVENUE SERVICE

DEPARTMENT OF THE TREASURY

(Continued)

(Part 1, $$ 1.851 to 1.1200)

SUBCHAPTER A--INCOME TAX (continued) Part 1 Income tax; taxable years beginning after December 31, 1953 (continued). Supplementary Publications: Internal Revenue Service Looseleaf Regulations System.

Additional supplementary publications are issued covering Alcohol and Tobacco Tat Regulations, and Regulations Under Tat Conventions.

SUBCHAPTER A-INCOME TAX (Continued)

PART 1-INCOME TAX; TAXABLE YEARS BEGINNING AFTER DECEMBER 31,

1953 (Continued)

Normal Taxes and Surtaxes (Continued)

REGULATED INVESTMENT COMPANIES AND REAL ESTATE INVESTMENT TRUSTS

Sec. 1.851 Statutory provisions; definition of regulated investment company. 1.851–1 Definition of regulated investment company. 1.851-2 Limitations. 1.851-3 Rules applicable to section 851(b) (4). 1.851-4 Determination of status. 1.851-5 Examples. 1.851-6 Investment companies furnishing capital to development corporations. 1.852 Statutory provisions; taxation of regulated investment companies and theu

shareholders. 1.852–1 Taxation of regulated investment companies. 1.852-2 Method of taxation of regulated investment companies. 1.852–3 Investment company taxable income. 1.852–4 Method of taxation of shareh olders of regulated investment companies 1.852–5 Earnings and profits of a regulated investment company. 1.852–6 Records to be kept for purpose of determining whether a corporation

claiming to be a regulated investment company is a personal holding company. 1.852—7 Additional information required in returns of shareholders. 1.852–8 Information returns. 1.852–9 Special procedural requirements applicable to designation under section

852(b) (3) (D). 1.852–10 Distributions in redemption of interests in unit investment trusts. 1.853 Statutory provisions; foreign tax credit allowed to shareholders. 1.853–1 Foreign tax credit allowed to shareholders. 1.853-2 Effect of election. 1.853–3 Notice to shareholders. 1.853-4 Manner of making election.

Sec. 1.854 Statutory provisions; limitations applicable to dividends received from reg

ulated investment company. 1.854–1 Limitations applicable to dividends received from regulated investment

company. 1.854-2 Notice to shareholders. 1.864-3 Definitions. 1.855 Statutory provisions; dividends paid by regulated investment company after

close of taxable year. 1.855–1 Dividends paid by regulated investment company after close of taxable year.

REAL ESTATE INVESTMENT TRUSTS 1.856 Statutory provisions; definition of real estate investment trust. 1.856-1 Definition of real estate investment trust. 1.856-2 Limitations. 1.856–3 Definitions. 1.8564 Rents from real property. 1.857 Statutory provisions; taxation of real estate investment trusts and their

beneficiaries. 1.857-1 Taxation of real estate investment trusts. 1.857-2 Method of taxation of real estate investment trusts. 1.857–3 Real estate investment trust taxable income. 1.857-4 Method of taxation of shareholders of real estate investment trusts. 1.857-5 Earnings and profits of a real estate investment trust. 1.857-6 Records to be kept by a real estate investment trust. 1.857–7 Information required in returns of shareholders. 1.857-8 Information returns. 1.858 Statutory provisions; dividends paid by real estate investment trust after

close of taxable year. 1.858–1 Dividends paid by real estate investment trust after close of taxable year.

TAX BASED ON INCOME FROM SOURCES WITHIN OR WITHOUT THE UNITED STATES

DETERMINATION OF SOURCES OF INCOME

1.861 Statutory provisions; income from sources within the United States. 1.861-1 Income from sources within the United States. 1.861-2 Interest. 1.861-3 Dividends. 1.861-4 Compensation for labor or personal services. 1.861-5 Rentals and royalties. 1.861–6 Sale of real property. 1.861-7 Sale of personal property. 1.861-8 Computation of taxable income from sources within the United States. 1.862 Statutory provisions; income from sources without the United States. 1.862–1 Income specifically from sources without the United States. 1.863 Statutory provisions; items not specified in section 861 or 862. 1.863-1 Allocation of gross income under section 863(a). 1.863–2 Income derived partly from sources within and partly from sources

without the United States. 1.863–3 Income from the sale of personal property derived partly from within and

partly from without the United States. 1.863-4 Transportation service. 1.863–5 Telegraph and cable services. 1.863–6 Income from sources within a foreign country or possession of the United

States. 1.864 Statutory provisions; definitions. 1.864–1 Meaning of sale. 1.864-2 Trade or business within the United States.

NONRESIDENT ALIENS AND FOREIGN CORPORATIONS

NONRESIDENT ALIEN INDIVIDUALS 1.871 Statutory provisions; tax on nonresident alien individuals. 1.871-1 Taxation of aliens. 1.871-2 Determining residence of alien individuals. 1.871-3 Residence of alien seamen.

Sec.
1.8714 Proof of residence of aliens.
1.871-5 Loss of residence by an alien.
1.871–6 Duty of employer to determine status of alien employee.
1.871–7 Tax on nonresident alien individuals.
1.871-8 Definition of engaging in trade or business within the United States.
1.872 Statutory provisions; gross income.
1.872–1 Gross income of nonresident alien individuals.
1.872–2 Exclusions from gross income of nonresident alien individuals.
1.873 Statutory provisions; deductions.
1.873–1 Deductions allowed nonresident alien individuals.
1.874 Statutory provisions; allowance of deductions and credits.
1.874-1 Allowances of deductions and credits to nonresident alien individuals.
1.875 Statutory provisions; partnerships.
1.875–1 Partnerships.
1.876 Statutory provisions; alien residents of Puerto Rico.
1.876-1 Alien residents of Puerto Rico.
1.877 Statutory provisions; certain foreign exempt organizations.

FOREIGN CORPORATIONS 1,881 Statutory provisions; tax on foreign corporations not engaged in business in

the United States. 1.881-1 Taxation of foreign corporations. 1.881–2 Tax on nonresident foreign corporations. 1.882 Statutory provisions; tax on resident foreign corporations. 1.882–1 Tax on resident foreign corporations. 1.882–2 Gross income of foreign corporations. 1.882–3 Deductions allowed foreign corporations. 1.882-4 Allowance of deductions to foreign corporations. 1.883 Statutory provisions; exclusions from gross income. 1.883–1 Exclusions from gross income of foreign corporations. 1.884 Statutory provisions; cross references.

MISCELLANEOUS PROVISIONS 1.891 Statutory provisions; doubling of rates of tax on citizens and corporations

of certain foreign countries. 1.892 Statutory provisions; income of foreign governments and of international

organizations. 1.892–1 Income of foreign governments and international organizations. 1.893 Statutory provisions; compensation of employees of foreign governments or

international organizations. 1.893–1 Compensation of employees of foreign governments or international

organizations. 1.894 Statutory provisions; income exempt under treaty. 1.894–1 Income exempt under treaty. 1.895 Statutory provisions; income derived by a foreign central bank of issue from

obligations of the United States. 1.895–1 Income derived by a foreign central bank of Issue from obligations of the

United States.

INCOME FROM SOURCES WITHOUT THE UNITED STATES

FOREIGN TAX CREDIT 1.901 Statutory provisions; taxes of foreign countries and of possessions of the

United States. 1.901-1 Allowance of credit for taxes. 1.901–2 Definitions. 1.902 Statutory provisions; credit for corporate stockholder in foreign corporation. 1.902–1 Credit for domestic corporate shareholder of a foreign corporation (before

amendment by Revenue Act of 1962). 1.902–2 Special rules for payments from certain wholly-owned foreign corpora

tions (before amendment by Revenue Act of 1962). 1.902–3 Credit for domestic corporate shareholder of a foreign corporation (after

amendment by Revenue Act of 1962). 1.902–4 Definition of less developed country corporation for purposes of section

902.

Boc. 1.902–5 Effective dates for the application of section 902 (as amended by Revenue

Act of 1962), 1.903 Statutory provisions; credit for taxes in lieu of income, etc., taxes. 1.903–1 Definition of taxes in lieu of income, war profits, or excess profits taxes 1.904 Statutory provisions; limitation on credit. 1.904-1 Limitation on credit for foreign taxes. 1.904–2 Carryback and carryover of unused foreign tax. 1904_3 Carryback and carryover of unused foreign tax by husband and wife. 1.905 Statutory provisions; applicable rules. 1.905–1 When credit for taxes may be taken. 1.905-2 Conditions of allowance of credit. 1.905–3 Redetermination of the tax when credit proves incorrect. 1.9054 Credit for taxes accrued but not paid. 1.905–5 Credit for United Kingdom income taxes paid with respect to royalties.

EARNED INCOME OF CITIZENS OF UNITED STATES 1.911 Statutory provisions; earned income from sources without the United States 1.911-1 Earned income from sources without the United States attributable to serv

ices performed before 1963. 1.911-2 Earned income from sources without the United States attributable to sery

ices performed after 1962. 1.912 Statutory provisions; exemption for certain allowances. 1.912–1 Exclusion of certain cost-of-living allowances. 1.912–2 Exclusion of certain allowances of Foreign Service personnel.

WESTERN HEMISPHERE TRADE CORPORATIONS 1.921 Statutory provisions; definition of Western Hemisphere trade corporations. 1.921–1 Definition of Western Hemisphere trade corporation. 1.922 Statutory provisions; special deduction. 1.922–1 Special deduction of Western Hemisphere trade corporation,

POSSESSIONS OF THE UNITED STATES 1.931 Statutory provisions; income from sources within possessions of the United

States. 1.931-1 Citizens of the United States and domestic corporations deriving income

from sources within a certain possession of the United States. 1.932 Statutory provisions; taxation of citizens of possessions of the United States. 1.932–1 Status of citizens of United States possessions. 1.933 Statutory provisions; income from sources within Puerto Rico. 1.933-1 Exclusion of certain income from sources within Puerto Rico. 1.934 Statutory provisions; limitation on reduction in income tax liability incurred

to the Virgin Islands. 1.934-1 Limitation on reduction in income tax liability incurred to the Virgin Islands.

CHINA TRADE ACT CORPORATIONS 1.941 Statutory provisions; special deduction for China Trade Act corporations. 1.941-1 Special deduction for China Trade Act corporations. 1.941–2 Meaning of terms used in connection with China Trade Act corporations 1.941-3 Illustration of principles. 1.942 Statutory provisions; disallowance of foreign tax credit. 1.943 Statutory provisions; exclusion of dividends to residents of Formosa or Hong

Kong. 1.943–1 Withholding by a China Trade Act corporation.

CONTROLLED FOREIGN CORPORATIONS 1.951 Statutory provisions; amounts included in gross income of United States

shareholders. 1.951-1 Amounts included in gross income of United States shareholders. 1.951-2 Coordination of subpart F with election of a foreign investment company

to distribute income. 1.951-3 Coordination of subpart F with foreign personal holding company pro

visions. 1.952 Statutory provisions; subpart Fincome defined. 1.952-1 Subpart F income defined.

Sec

1.952–2 Determination of gross income and taxable income of a foreign corpora

tion. 1.953 Statutory provisions; income from insurance of United States risks. 1.953-1 Income from insurance of United States risks. 1.953-2 Actual United States risks. 1.953–3 Risks deemed to be United States risks. 1.953-4 Taxable income to which section 953 applies. 1.953–5 Corporations not qualifying as insurance companies. 1.953–6 Relationship of sections 953 and 954. 1.954 Statutory provisions; foreign base company income. 1.954–1 Foreign base company income. 1.954–2 Foreign personal holding company income. 1.954–3 Foreign base company sales income. 1.954–4 Foreign base company services income. 1.954–5 Increase in qualified investments in less developed countries. 1.955 Statutory provisions; withdrawal of previously excluded subpart F income

from qualified investment. 1.955–1 Shareholder's pro rata share of amount of previously excluded subpart F

income withdrawn from investment in less developed countries, 1.955–2 Amount of a controlled foreign corporation's qualified investments in less

developed countries. 1.955–3 Election as to date of determining qualified investments in less developed

countries. 1.955–4 Definition of less developed country. 1.955-5 Definition of less developed country corporation. 1.955–6 Gross income from sources within less developed countries. 1.956 Statutory provisions; investment of earnings in United States property. 1.956–1 Shareholders pro rata share of a controlled foreign corporation's in

crease in earnings invested in United States property. 1.956-2 Definition of United States property. 1.957 Statutory provisions; controlled foreign corporations; United States persons. 1.957–1 Definition of controlled foreign corporation. 1.957—2 Controlled foreign corporation deriving income from insurance of United

States risks. 1.957–3 Corporations organized in United States possessions. 1.957-4 United States person defined. 1.958 Statutory provisions; rules for determining stock ownership. 1.958-1 Direct and indirect ownership of stock. 1.958–2 Constructive ownership of stock. 1.959 Statutory provisions; exclusion from gross income of previously taxed earn

ings and profits. 1.959–1 Exclusion from gross income of United States persons of previously taxed

earnings and profits. 1.959–2 Exclusion from gross income of controlled foreign corporations of previ

ously taxed earnings and profits. 1.959–3 Allocation of distributions to earnings and profits of foreign corporations. 1.959–4 Distributions to United States persons not counting as dividends. 1.961 Statutory provisions; adjustments to basis of stock in controlled foreign

corporations and of other property. 1.961-1 Increase in basis of stock in controlled foreign corporations and of other

property. 1.961-2 Reduction in basis of stock in foreign corporations and of other property. 1.962 Statutory provisions; election by individuals to be subject to tax at corporate

rates. 1.962-1 Limitation of tax for individuals on amounts included in gross income

under section 951(a). 1.962-2 Election of limitation of tax for individuals. 1.962-3 Treatment of actual distributions. 1.962-4 Transitional rules for certain taxable years. 1.963 Statutory provisions; receipt of minimum distributions by domestic corpo

rations. 1.963-1 Exclusion of subpart F income upon receipt of minimum distribution. 1.963–2 Determination of the amount of the minimum distribution. 1.963–3 Distributions counting toward a minimum distribution. 1.963-4. Limitations on minimum distribution from a chain or group.

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