The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1967 - Administrative law The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
adjusted basis adjusted gross income allowed under section amended by T.D. amortization deduction amounts paid amounts received annuity apply asset attributable beneficiary bond premium calendar carryback carryover charitable contribution có có có contract corporation cost December 31 deduction allowable deduction under section depreciation described in section determined duction election employee erty excess excluded from gross exemptions expenditures expenses filed graph included in gross income tax individual Internal Revenue Code January joint return lease lessee ment method net operating loss operating loss paid or incurred paragraph payer payments percent period placed in service portion preferred stock purchase purposes of section regulations thereunder respect section 38 property section 72 spect spouse standard deduction Stat Statutory provisions subdivision subparagraph taken into account tax imposed taxable income taxable year ending taxable years beginning taxpayer tion trade or business treated
Popular passages
Page 415 - ... unrelated trade or business" means, in the case of any organization subject to the tax imposed by section 511, any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the...
Page 311 - ... visual acuity is greater than 20/200 but is accompanied by a limitation in the fields of vision such that the widest diameter of the visual field subtends an angle no greater than 20 degrees.
Page 112 - SEC. 61. Gross income defined — (a) General definition. Except as otherwise provided in this subtitle, gross Income means all Income from whatever source derived, including (but not limited to) the following items: (1) Compensation for services, including fees, commissions, and similar items...
Page 398 - In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant.
Page 376 - ... any other consistent method productive of an annual allowance which, when added to all allowances for the period commencing with the taxpayer's use of the property and including the taxable year, does not, during the first two-thirds of the useful life of the property, exceed the total of such allowances which would have been used had such allowances been computed under the method described in paragraph (2).
Page 524 - medical care" means amounts paid — (A) for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body (including amounts paid for accident or health insurance), or (B) for transportation primarily for and essential to medical care referred to in subparagraph (A).
Page 50 - Retirement income — (a) General rule. In the case of an individual who has received earned income before the beginning of the taxable year, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 17 percent.
Page 287 - Any amount received — (A) As a scholarship at an educational institution (as defined in section 151 (e) (4) ), or (B) As a fellowship grant, including the value of contributed services and accommodations; and (2) Any amount received to cover expenses for— (A) Travel, (B) Research, (C) Clerical help, or (D) Equipment, which are incident to such a scholarship or to a fellowship grant, but only to the extent that the amount is so expended by the recipient.
Page 323 - That (A) such payments are held in trust for the purpose of paying, either from principal or income or both, for the benefit of employees, their families and dependents...
Page 116 - farm " embraces the farm in the ordinarily accepted sense, and includes stock, dairy, poultry, fruit, and truck farms; also plantations, ranches, and all land used for farming operations. All individuals, partnerships, or corporations that cultivate, operate, or manage farms for gain or profit, either as. owners or tenants, are designated as farmers.