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48. Improvements by lessees

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49. Compensation for loss---

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50. Replacement fund for loss.

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51. Forgiveness of indebtedness.

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52. When included in gross income-

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53. Income not reduced to possession.

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54. Examples of constructive receipt.-

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Liberty Bond Act----

80. Liberty bond exemption after December 31, 1918.--- ---

80(a). Summary of tax exemptions of Liberty bonds and

Victory notes

81. Liberty bond exemption in the case of trusts...

82. Liberty bond exemption in the case of partnerships and

personal-service corporations

83. Income of foreign governments_

84. Income of States ---

85. Compensation of State officers--

86. Compensation of soldiers and sailors_.

87. Income accruing prior to March 1, 1913.

88. Subtraction for redemption of trading stamps.

Section 213(c). Gross income defined: nonresident alien individual.

Article 91. Gross income of nonresident alien individuals -

92. Income of nonresident alien individuals not subject to tax-

92(a). When the wages of a nonresident alien seaman are

derived from sources within the United States..

93. Income of nonresident aliens from United States bonds..

Section 214(a) 1. Deductions allowed: business expenses.

Article 101. Business expenses.

102. Cost of materials.-

103. Repairs

104. Professional expenses.

105. Compensation for personal services.

106. Treatment of excessive compensation..

107. Bonuses to employees---

108. Pensions

109. Rentals

110. Expenses of farmers_-

111. When charges deductible--

Section 214(a) 2. Deductions allowed: interest

Article 121. Interest

122. Interest on capital ----

Section 214(a) 3. Deductions allowed: taxes.

Article 131. Taxes ----

132. Federal duties and excise taxes...

133, Taxes for local benefits.-

134. Inheritance taxes_-

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uncertain

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Section 214(a) 4, 5, and 6. Deductions allowed: losses.

Article 141. Losses.

142. Voluntary removal of buildings.

143. Loss of useful value-----

144. Shrinkage in securities and stocks.

145. Losses of farmers.--

Section 214(a) 7. Deductions allowed: bad debts.

Article 151. Bad debts-----

152. Examples of bad debts--

153. Worthless mortgage debt--

154. Worthless securities

Section 214(a) 8. Deductions allowed: depreciation.

Article 161. Depreciation

162. Depreciable property-

163. Depreciation of intangible property---

164. Capital sum recoverable through depreciation allowances-

165. Method of computing depreciation allowance.

166. Modification of method of computing depreciation.

167. Depreciation of patent or copyright-----

168. Depreciation of drawings and models.

169. Charging off depreciation --

170. Closing depreciation account--

171. Depreciation in the case of farmers.

Section 214(a) 9. Deductions allowed: amortization

Article 181. Scope of provision for amortization.

182. Depreciation of amortized property-

183. Property cost of which may be amortized-

184. Cost which may be amortized -

185. Amortization period ----

186. Additional requirements for amortization.-

187. Redetermination of amortization allowance-

188. Sale of amortized property----

189. Information to be furnished by the taxpayer.

Section 214(a) 10. Deductions allowed: depletion.---

Article 201. Depletion of mines, oil and gas wells; depreciation of im-

provements.---

202. Capital recoverable through depletion deduction in the

case of an operating owner----

203. Capital recoverable through depletion deductions in the

case of lessee..

204. Capital recoverable through depletion in case of lessor--

205. Determination of cost of deposits-----

206. Determination of fair market value of mineral property-

207. Revaluation of mineral deposits not allowed--

208. Determination of mineral contents of mine.

209. Determination of quantity of oil in ground.

210. Computation of deduction for depletion of mineral de-

posits.

211, Computation of allowance for depletion of gas wells----

212. Gas-well pressure records to be kept-----

213. Computation of allowance where quantity of oil or gas

Section 214(a) 10. Deductions allowed: depletion-Continued.

Article 214. ('omputation of depletion allowance for combined hold- Page.

ings of oil and gas wells------

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215. Depletion-Adjustments of accounts based on bonus or

advanced royalty

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216. Depletion and depreciation accounts on books---

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217, Statement to be attached to return when depletion or de-

preciation of mineral property is claimed -

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218. Statement to be attached to return where depletion of

oil or gas claimed--

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219. Discovery of mines

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220. Oil and gas wells----

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220(a). Discovery-Proven tract or lease Property dispro-

portionate value ---

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221. Proof of discovery of oil and gas wells ----

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222. Allowable capital additions in case of mines.

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223. Charges to capital and to expense in the case of oil and

gas wells ----

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224. Depreciation in the case of mines---

92

225. Deprecation of improvements in the case of oil and

gas wells ---

93

226. Depletion and depreciation of oil and gas wells in years

before 1916-----

93

227. Depletion of timber----

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228. Capital recoverable through depletion allowance in the

case of timber ----

94

229. Computation of allowance for depletion of timber for

given year

94

230. Revaluation of timber not allowed.---

95

231. Charges to capital and to expenses in the case of timber-- 95

232. Depreciation of improvements in the case of timber--- 96

233. Information to be furnished by taxpayer claiming deple-

tion of timber..

96

234. Determination of fair market value of timber.-

97

235. Determination of quantity of timber----

98

236. Aggregating timber and land for purposes of valuation

and accounting-------

98

237. Timber depletion and depreciation accounts on books.- 99

Section 214(a) 11. Deductions allowed: charitable contributions..

100

Article 251. Charitable contributions -

100

Section 214(a) 12. Deductions allowed: loss in inventory-

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Article 261. Losses in inventory and from rebates..

102

262. Loss from rebates

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263. Loss in inventory-

102

264. Loss where goods have been sold.--

102

265, Loss where goods have not been sold..

102

266. Claims.--

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267. Disposition of claims

103

268. Effect of claim in abatement-

103

Section 214(b). Deductions allowed: nonresident alien individual -

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Article 271. Deductions allowed nonresident alien individuals.

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Section 215. Items not deductible------

106

Article 291. Personal and family expenses.

106

292. Traveling expenses

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