The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1966 - 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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... December 31 , 1965. All dates appearing in the source citations are dates of publication in the Federal Register and should not be construed as effective dates . Current regulatory material appearing in the daily issues of the Federal ...
... December 31 , 1965. All dates appearing in the source citations are dates of publication in the Federal Register and should not be construed as effective dates . Current regulatory material appearing in the daily issues of the Federal ...
Page 3
... December 31 , 1953 ( continued ) . Supplementary Publications : Internal Revenue Service Looseleaf Regulations System . Additional supplementary publications are issued covering Alcohol and Tobacco Tax Regulations , and Regulations ...
... December 31 , 1953 ( continued ) . Supplementary Publications : Internal Revenue Service Looseleaf Regulations System . Additional supplementary publications are issued covering Alcohol and Tobacco Tax Regulations , and Regulations ...
Page 8
... December 31 , 1920 . 1.1015-2 Transfer of property in trust after December 31 , 1920 . 1.1015-3 Gift or transfer in trust before January 1 , 1921 . 1.1015-4 1.1015-5 Transfers in part a gift and in part a sale . Increased basis for gift ...
... December 31 , 1920 . 1.1015-2 Transfer of property in trust after December 31 , 1920 . 1.1015-3 Gift or transfer in trust before January 1 , 1921 . 1.1015-4 1.1015-5 Transfers in part a gift and in part a sale . Increased basis for gift ...
Page 20
... December 31 , 1956 , designate under section 852 ( b ) ( 3 ) ( D ) an amount of undistributed capital gains to each shareholder of the company . For the definition of the term " undis- tributed capital gains " and for the treat- ment of ...
... December 31 , 1956 , designate under section 852 ( b ) ( 3 ) ( D ) an amount of undistributed capital gains to each shareholder of the company . For the definition of the term " undis- tributed capital gains " and for the treat- ment of ...
Page 21
... December 31 , 1964 ) , the exclusion from gross income under section 116 , and the deduction under sec- tion 243. See section 855 ( b ) and ( d ) and paragraphs ( c ) and ( f ) of § 1.855-1 for treatment by shareholders of divi- dends ...
... December 31 , 1964 ) , the exclusion from gross income under section 116 , and the deduction under sec- tion 243. See section 855 ( b ) and ( d ) and paragraphs ( c ) and ( f ) of § 1.855-1 for treatment by shareholders of divi- dends ...
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Common terms and phrases
adjusted basis allocated amount apply capital gains chain or group class of stock computed controlled foreign corporation Corporation's December 31 deductions deemed paid derived from sources described in section determined dividends domestic corporation earnings and profits election erty estate investment trust excluded export trade assets fair market value foreign base company foreign country foreign income tax foreign tax credit gain or loss gift tax graph gross income holding company income derived income from sources investments in less less developed country liability ment minimum distribution nonresident alien paid or accrued paragraph percent period poration Puerto Rico purchased qualified investments rata share real estate investment real property received respect sale or exchange section 959 Statutory provisions stock or securities subdivision subparagraph subpart F income subsection taxable income taxes paid taxpayer tion trade or business trolled foreign corporation United States dollar United States shareholder unused foreign tax
Popular passages
Page 57 - States, the net income may first be computed by deducting the expenses, losses or other deductions apportioned or allocated thereto and a ratable part of any expenses, losses or other deductions which cannot definitely be allocated to some items or class of gross income...
Page 437 - ... as is not in excess of his ratable share of the undistributed earnings and profits of the corporation accumulated after February 28, 1913. The remainder. if any, of the gain recognized under paragraph (1) shall be taxed as a gain from the exchange of property.
Page 376 - Gifts after December 31, 1920. If the property was acquired by gift after December 31, 1920, the basis shall be the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift...
Page 335 - February 28, 1913, or (2) out of the earnings or profits of the taxable year (computed as of the close of the taxable year without diminution by reason of any distributions made during the taxable year), without regard to the amount of the earnings and profits at the time the distribution was made.
Page 74 - The income of a nonresident alien individual which consists exclusively of earnings derived from the operation of a ship or ships documented under the laws of a foreign country which grants an equivalent exemption to citizens of the United States and to corporations organized in the United States shall not be included in gross income and shall be exempt from taxation under this chapter.
Page 406 - Secretary, expended in the acquisition of other property similar or related in service or use to the property so converted, or in the acquisition of control of a corporation owning such other property, or in the establishment of a replacement fund, no gain shall be recognized, but loss shall be recognized. If any part of the money is not so expended...
Page 402 - If the property was acquired, after February 28, 1913, upon an exchange described in section 112 (b) to (e), inclusive, the basis shall be the same as in the case of the property exchanged, decreased in the amount of any money received by the taxpayer and increased in the amount of gain or decreased in the amount of loss to the taxpayer that was recognized upon such exchange under the law applicable to the year in which the exchange was made.
Page 57 - For gains, profits, and income from the sale of personal property, see subsection (e). "(b) NET INCOME FROM SOURCES IN UNITED STATES. — From the items of gross income specified in subsection (a) of this section there shall be deducted the expenses, losses, and other deductions properly apportioned or allocated thereto and a ratable part of any expenses, losses, or other deductions which cannot definitely be allocated to some item or class of gross income.
Page 407 - If property (as a result of its destruction in whole or in part, theft, seizure, or requisition or condemnation or threat or imminence thereof) is compulsorily or Involuntarily converted...
Page 122 - For purposes of this section, the term "earned income" means wages, salaries, or professional fees, and other amounts received as compensation for personal services actually rendered, but does not include that part of the compensation derived by the taxpayer for personal services rendered by him to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered. In the case of a taxpayer engaged in...