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Sec. 1.503(d)-1 Future status of organizations denied exemption 1.503(d)-2 Fiscal years and short taxable years ending after March 1, 1954,

subject to the Internal Revenue Code of 1939. 1.503(e) statutory provisions; requirements for exemption; disallowance of cer

tain charitable, etc., deductions. 1.803(e)-1 Disallowance of certain charitable deductions. 1.503(f) Statutory provisions; requirements for exemption; definition. 1.503(g) Statutory provisions; requirements for exemption; special rule for loans. 1.503(g)-1 Cross references. 1.503(h) Statutory provisions; requirements for exemption; special rules relating

to lending by section 401(a) and section 501(c) (17) trusts to certain persons. 1.503(h)-1 Certain loans by employees' trusts and supplemental unemployment

benefit trusts. 1.503(b)-% Requirements. 1.503(1)-3 Effective dates. 1.503 (1) Statutory provisions; requirements for exemption; loans with respect

to which employers are prohibited from pledging certain assets. 1.503(1)-1 Loans by employers who are prohibited from pledging assets. 1.503(1) Statutory provisions; requirements for exemption; trusts benefiting cer

tain owner-employees. 1.503(j)-1 Trusts benefiting certain owner-employees. 1.504 Statutory provisions; denial of exemption. 1.504-1 Dental of exemption.

EXEMPT ORGANIZATIONS

PRIVATE FOUNDATIONS 1.507 Statutory provisions; termination of private foundation status; general rule. 1.507-1 General rule. 1.507-2 Special rules; transfer to, or operation as, public charity. 1.507-3 Special rules; transferee foundations. 1.5074 Imposition of tax. 1.507-5 Aggregate tax benefit; in general. 1.507–6 Substantial contributor defined. 1.507–7 Value of assets. 1.507–8 Liability in case of transfers. 1.507–9 Abatement of taxes. 1.508 Statutory provisions; special rules with respect to certain 501(c)(3)

organizations. 1.508-1 Notices. 1.508—2 Disallowance of certain charitable, etc., deductions. 1.508–3 Governing instruments. 1.508-4 Effective date. 1.509(a) Statutory provisions; private foundation defined; general rule. 1.509(a)-1 Definition of private foundation. 1.509(a)-2 Exclusion for certain organizations described in section 170(b) (1) (A). 1.509(a)-3 Broadly, publicly supported organizations. 1.509(a) 4 Supporting organizations. 1.509(a)-5 Special rules of attribution. 1.509(a)-6 Classiication under section 509(a). 1.509(a)-7 Reliance by grantors and contributors to section 509(a) (1), (2), and

(3) organizations. 1.509(b) statutory provisions; private foundation defined; continuation of private

foundation status. 1.509(b)-1 Continuation of private foundation status. 1.509(c) statutory provisions; private foundation defined; status of organization

after termination of private foundation status. 1.509(c)-1 Status of organization after termination of private foundation status. 1.509(d) Statutory provisions; private foundation defined; definition of support. 1.509(d)-1 Definition of support. 1.509(e) Statutory provisions; private foundation defined; definition of gross

investment income. 1.509(e)-1 Definition of gross investment income.

TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS 1.511 Statutory provisions; imposition of tax on unrelated business income of charitable, etc., organizations.

Sec. 1.511-1 Imposition and rates of tax. 1.511-2 Organizations subject to tax. 1.511-3 Provisions generally applicable to the tax on unrelated business income. 1.512(a) Statutory provisions; unrelated business taxable income; definition. 1.512(a)-1 Definition. 1.512(a)-2 Definition applicable to taxable years beginning before December 13,

1967. 1.512(b) Statutory provisions; unrelated business taxable income; modifications. 1.512(b)-1 Modifications. 1.512(c) Statutory provisions; unrelated business taxable income; special rules

applicable to partnerships. 1.512(c)-1 Special rules applicable to partnerships; in general. 1.513 Statutory provisions; unrelated trade or business. 1.513-1 Definition of unrelated trade or business. 1.513-2 Definition of unrelated trade or business applicable to taxable years be

ginning before December 13, 1967. 1.514(a) Statutory provisions; unrelated debt-financed Income; unrelated debt

financed income and deductions. 1.514(a)-1 Unrelated debt-financed Income and deductions. 1.514(a)-2 Business lease rents and deductions for taxable years beginning before

January 1, 1970. 1.514(b) Statutory provisions; unrelated debt-financed Income; definition of debt

financed property. 1.514(b)-1 Definition of debt-financed property. 1.514(c) Statutory provisions; unrelated debt-financed income; acquisition

Indebtedness. 1.514(c)-1 Acquisition indebtedness. 1.514(d) Statutory provisions; unrelated debt-financed income; basis of debt

financed property acquired in corporate liquidation. 1.514(d)-1 Basis of debt-financed property acquired in corporate liquidation. 1.514(e) Statutory provisions; unrelated debt-financed income; allocation rules. 1.514(e)-1 Allocation rules. 1.514(f) Statutory provisions; unrelated debt-financed Income; definition of busi

ness lease. 1.514(f)-1 Definition of business lease. 1.514(g) Statutory provisions; unrelated debt-financed income; business lease

indebtedness. 1.514(g)-1 Business lease indebtedness. 1.514(h) Statutory provisions; business leases; personal property leased with real

property. 1.515 Statutory provisions; taxes of foreign countries and possessions of the United States.

FARMERS' COOPERATIVES 1.521 Statutory provisions; exemption of farniers cooperatives from tax. 1.521-1 Farmers' cooperative marketing and purchasing associations; require

ments for exemption under section 521. 1.522 Statutory provisions; tax on farmers' cooperatives. 1.522-1 Tax treatment of farmers' cooperative marketing and purchasing associa

tions exempt under section 521. 1.522–2 Manner of taxation of cooperative associations subject to section 522. 1.522–3 Patronage dividends, rebates, or refunds, treatment as to cooperative as

sociations entitled to tax treatment under section 522. 1.522-4 Taxable years affected.

SHIPOWNERS' PROTECTION AND INDEMNITY ASSOCIATIONS 1.526 Statutory provisions; shipowners' protection and indemnity associations.

CORPORATIONS USED TO AVOID INCOME TAX ON SHAREHOLDERS

CORPORATIONS IMPROPERLY ACCUMULATING SURPLUS 1.531 Statutory provisions; imposition of accumulated earnings tax. 1.531-1 Imposition of tax. 1.532 Statutory provisions; corporations subject to accumulated earnings tax. 1.532–1 Corporations subject to accumulated earnings tax. 1.533 Statutory provisions; evidence of purpose to avoid income tax. 1.533–1 Evidence of purpose to avoid income tax.

Sec. 1.533_2 Statement required. 1.534 Statutory provisions; burden of proof. 1.534-1 Burden of proof as to unreasonable accumulations generally. 1.534-2 Burden of proof as to unreasonable accumulations in cases before the

Tax Court. 1.534–3 Jeopardy assessments in Tax Court cases. 1.5344 Taxable years subject to the Internal Revenue Code of 1939. 1.535 Statutory provisions; accumulated taxable income. 1.535–1 Definition. 1.535–2 Adjustments to taxable income. 1.535-3 Accumulated earnings credit. 1.536 Statutory provisions; income not placed on annual basis. 1.536–1 Short taxable years. 1.537 Statutory provisions; reasonable needs of the business. 1.537-1 Reasonable needs of the business. 1.537–2 Grounds for accumulation of earnings and profits. 1.537–3 Business of the corporation.

PERSONAL HOLDING COMPANIES 1.541 Statutory provisions; imposition of personal holding company tax. 1.541-1 Imposition of tax. 1.542 Statutory provisions; definition of personal holding company. 1.542-1 General rule. 1.542-2 Gross income requirement. 1.542–3 Stock ownership requirement. 1.542–4 Corporations filing consolidated returns. 1.543 Statutory provisions; definition of personal holding company income. 1.543-1 Personal holding company income. 1.543–2 Limitation on gross income and personal holding company income in

transactions involving stocks, securities, and commodities. 1.544 Statutory provisions; rules for determining stock ownership. 1.544_1 Constructive ownership. 1.544–2 Constructive ownership by reason of indirect ownership. 1.544_3 Constructive ownership by reason of family and partnership ownership. 1.5444 Options. 1.544–5 Convertible securities. 1.544–6 Constructive ownership as actual ownership. 1.544–7 Option rule in lieu of family and partnership rule. 1.545 Statutory provisions; undistributed personal holding company income. 1.545-1 Definition. 1.545-2 Adjustments to taxable income. 1.545–3 Special adjustment to taxable income. 1.546 Statutory provisions; income not placed on annual basis. 1.547 Statutory provisions; deduction for deficiency dividends. 1.547-1 General rule. 1.547-2 Requirements for deficiency dividends. 1.547-3 Claim for credit or refund. 1.547-4 Effect on dividends paid deduction. 1.547-5 Deduction denied in case of fraud or wilful failure to flle timely return. 1.547–6 Suspension of statute of limitations and stay of collection. 1.547-7 Elective date.

FOREIGN PERSONAL HOLDING COMPANIES 1.551 Statutory provisions; foreign personal holding company income taxed to

United States shareholders. 1.551-1 General rule. 1.551-2 Amount included in gross income. 1.551-3 Deduction for obligations of the United States and its instrumentalities. 1.5514 Information in return. 1.551–5 Effect on capital account of foreign personal holding company and basis

of stock in hands of shareholders. 1.552 Statutory provisions; definition of foreign personal holding company. 1.552–1 Definition of foreign personal holding company. 1.852-2 Gross income requirement. 1.552–3 Stock ownership requirement.

Bec. 1.5524 Certain excluded banks. 1.552–5 United States shareholder of excluded bank. 1.553 Statutory provisions; foreign personal holding company income. 1.553–1 Foreign personal holding company income. 1.554 Statutory provisions; stock ownership. 1.554_1 Stock ownership. 1.555 Statutory provisions; gross income of foreign personal holding companies. 1.556–1 General rule. 1.555-2 Additions to gross income. 1.556 Statutory provisions; undistributed foreign personal holding company

income. 1.556–1 Definition. 1.55642 Adjustments to taxable income. 1.556–3 Lustration of computation of undistributed foreign personal holding

company income. 1.557 Statutory provisions; income not placed on annual basis. 1.558 Statutory provisions; returns of officers, directors, and shareholders of foreigna personal holding companies.

DEDUCTION FOR DIVIDENDS PAID 1.561 Statutory provisions; definition of deduction for dividends paid. 1.561-1 Deduction for dividends paid. 1.561-2 When dividends are considered paid. 1.562 Statutory provisions; rules applicable in determining dividends eligible for

dividends paid deduction. 1.562–1 Dividends for which the dividends paid deduction is allowable. 1.562–2 Preferential dividends. 1.562-3 Distributions by a member of an afiliated group. 1.563 Statutory provisions; rules relating to dividends paid after close of taxable

year. 1.563-1 Accumulated earnings tax. 1.563–2 Personal holding company tax. 1.563-3 Dividends considered as paid on last day of taxable year. 1.564 Statutory provisions; dividend carryover. 1.564_1 Dividend carryover. 1.565 Statutory provisions; consent dividends. 1.565–1 General rule. 1.565-2 Limitations. 1.565-3 Elect of consent. 1.565-4 Consent dividends and other distributions. 1.565–5 Nonresident aliens and foreign corporations. 1.565-6 Definitions.

BANKING INSTITUTIONS RULES OF GENERAL APPLICATION TO BANKING INSTITUTIONS 1.581 Statutory provisions; definition of bank, 1.581-1 Tax on banks. 1.581-2 Mutual savings banks, building and loan associations, and cooperative

banks. 1.581-3 Definition of bank prior to September 28, 1962. 1.582 Statutory provisions; bad debts, losses, and gains with respect to securities

held by financial institutions. 1.582_1 Bad debts, losses, and gains with respect to securities held by financial

institutions. 1.583 Statutory provisions; deductions of dividends paid on certain preferred

stock. 1.584 Statutory provisions; common trust funds. 1.584-1 Common trust funds. 1.584-2 Income of participants in common trust fund. 1.584_3 Computation of common trust fund income. 1.5844 Admission and withdrawal of participants in the common trust fund. 1.584_5 Returns of banks with respect to common trust funds. 1.584–6 Net operating loss deduction.

MUTUAL SAVINGS BANKS, ETC. Sec. 1.591 Statutory provisions; deduction for dividends paid on deposits. 1.591-1 Doduction for dividends paid on deposits. 1.592 Statutory provisions; deduction for repayment of certain loans. 1.592–1 Repayment of certain loans by mutual savings banks, building and

loan associations, and cooperative banks. 1.593 Statutory provisions; reserves for losses on loans. 1.593–1 Additions to reserve for bad debts. 1.593–2 Additions to reserve for bad debts where surplus, reserves, and undivided

proits equal or exceed 12 percent of deposits or withdrawable accounts. 1.593-3 Taxable years affected. 1.5934 Organizations to which section 593 applies. 1.593–5 Addition to reserves for bad debts. 1.593–6 Addition to reserve for losses on qualifying real property loans. 1.593–7 Establishment and treatment of reserves for bad debts. 1.593-8 Allocation of pre-1952 surplus to opening balance of reserve for losses on

qualifying real property loans. 1.593-9 Taxable income for taxable years beginning in 1962 and ending in 1963. 1.593–10 Certain distributions to shareholders by a domestic building and loan

association. 1.593-11 Qualifying real property loan and nonqualifying loan defined. 1.594 Statutory provisions; alternative tax for mutual savings banks conducting

wife insurance business. 1.594-1 Mutual savings banks conducting life insurance business. 1.595 Statutory provisions; foreclosure on property securing loans. 1.595–1 Treatment of foreclosed property by certain creditors. 1.596 Statutory provisions; limitation on dividends received deduction. 1.596-1 Limitation on dividends received deduction.

BANK ASTILIATES 1.601 Statutory provisions; special deduction for bank afliates. 1.601-1 Special deduction for bank afiliates.

NATURAL RESOURCES

DEDUCTIONS 1.611 Statutory provisions; allowance of deduction for depletion. 1.611-0 Regulatory authority. 1.611-1 Allowance of deduction for depletion. 1.611–2 Rules applicable to mines, oil and gas wells, and other natural deposits. 1.611–3 Rules applicable to timber. 1.611-4 Depletion as a factor in computing earnings and profits for dividend

purposes. 1.611-5 Depreciation of improvements. 1.612 Statutory provisions; basis for cost depletion. 1.812–1 Basis for allowance of cost depletion. 1.812-2 Allowable capital additions in case of mines. 1.612–3 Depletion; treatment of bonus and advanced royalty. 1.6124 Charges to capital and to expense in case of oil and gas wells. 1.613 Statutory provisions; percentage depletion. 1.613–1 Percentage depletion; general rule. 1.613–2 Percentage depletion rates. 1.613-3 Gross income from the property. 1.613-4 Gross income from the property in the case of minerals other than oll

and gas. 1.613-5 Taxable income from the property. 1.613–6 Statement to be attached to return when depletion is claimed on percentage

basis. 1.613–7 Application of percentage depletion rates provided in section 613(b) to

certain taxable years ending in 1954. 1.614 Statutory provisions; definition of property. 1.614-0 Introduction. 1.614_1 Definition of property. 1.614–2 Election to aggregate separate operating mineral interests under section

614(b) prior to its amendment by Revenue Act of 1964. 1.614-3 Rules relating to separate operating mineral interests in the case of mines.

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