Individual Income Tax Provisions of the Internal Revenue Code: Applicable to Taxable Years Beginning in 1944 Or Later |
From inside the book
Results 1-5 of 59
Page viii
... Capital gains and losses ... Sec . 118. Loss from wash sales of stock or securities 56 62 64 68 70 75 Sec . 119. Income from sources within United States . Sec . 120. Unlimited deduction for charitable and other contributions . Sec ...
... Capital gains and losses ... Sec . 118. Loss from wash sales of stock or securities 56 62 64 68 70 75 Sec . 119. Income from sources within United States . Sec . 120. Unlimited deduction for charitable and other contributions . Sec ...
Page 3
... CAPITAL GAINS OR LOSSES.- For rate and computation of alternative tax in lieu of normal tax and surtax in the case of a capital gain or loss from the sale or exchange of capital assets held for more than 6 months , see section 117 ( c ) ...
... CAPITAL GAINS OR LOSSES.- For rate and computation of alternative tax in lieu of normal tax and surtax in the case of a capital gain or loss from the sale or exchange of capital assets held for more than 6 months , see section 117 ( c ) ...
Page 15
... CAPITAL LOSSES.- ( 1 ) LIMITATION . - Losses from sales or exchanges of capital assets shall be allowed only to the extent provided in section 117 . ( 2 ) SECURITIES BECOMING WORTHLESS . - If any securities ( as defined in paragraph ( 3 ) ...
... CAPITAL LOSSES.- ( 1 ) LIMITATION . - Losses from sales or exchanges of capital assets shall be allowed only to the extent provided in section 117 . ( 2 ) SECURITIES BECOMING WORTHLESS . - If any securities ( as defined in paragraph ( 3 ) ...
Page 16
... capital assets , the loss resulting therefrom shall , * * for the purposes of this chapter , be considered as a loss from the sale or exchange , on the last day of such taxable year , of capital assets . * [ See also section 127 ( a ) ...
... capital assets , the loss resulting therefrom shall , * * for the purposes of this chapter , be considered as a loss from the sale or exchange , on the last day of such taxable year , of capital assets . * [ See also section 127 ( a ) ...
Page 24
... Secretary , are chargeable to capital account with respect to property , if the taxpayer elects , in accord- ance with such regulations , to treat such taxes or 24 § 23 ( aa ) ( 4 ) INDIVIDUAL INCOME TAX PROVISIONS Items not deductible_.
... Secretary , are chargeable to capital account with respect to property , if the taxpayer elects , in accord- ance with such regulations , to treat such taxes or 24 § 23 ( aa ) ( 4 ) INDIVIDUAL INCOME TAX PROVISIONS Items not deductible_.
Contents
138 | |
139 | |
140 | |
141 | |
142 | |
144 | |
145 | |
147 | |
75 | |
86 | |
94 | |
102 | |
105 | |
108 | |
112 | |
113 | |
114 | |
115 | |
116 | |
117 | |
118 | |
119 | |
120 | |
121 | |
124 | |
126 | |
127 | |
128 | |
129 | |
131 | |
132 | |
133 | |
134 | |
148 | |
149 | |
150 | |
151 | |
152 | |
154 | |
155 | |
156 | |
157 | |
158 | |
159 | |
160 | |
161 | |
162 | |
163 | |
164 | |
176 | |
177 | |
178 | |
179 | |
180 | |
181 | |
182 | |
188 | |
194 | |
Common terms and phrases
acquired adjusted basis adjusted gross income amended amortization applicable approval assessment beneficiary bond capital assets centum certificate chapter claim collected collector Commissioner computed corporation credit or refund decedent December 31 deficiency defined in section determined distraint distribution district dividend election employee estate or trust estimated tax exceed excess expiration extent February 28 fiduciary filed foreign personal holding gain or loss gross income income tax installment interest internal revenue June 29 liability ment months net income nonresident alien obligations operating loss overpayment paragraph partnership payment payroll period penalties period of limitation personal holding company prior taxable profits provided in section purposes regulations prescribed respect Revenue Act sale or exchange Secretary section 23 shareholder specified standard deduction Stat stock or securities subchapter subparagraph Supplement surtax Tax Court tax imposed taxable year beginning taxpayer term thereof tion trade or business United wages withholding exemptions
Popular passages
Page 229 - Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this chapter...
Page 106 - The net income of the estate or trust shall be computed in the same manner and on the same basis as in the case of an individual...
Page 24 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 58 - ... shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.
Page 39 - ... it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 238 - ... reasonably required and actually expended for the support during the settlement of the estate of those dependent upon the decedent, as are allowed by the laws of the jurisdiction, whether within or without the United States, under which the estate is being administered...
Page 116 - ... engaged in trade or business within the United States and not having an office or place of business therein, from sources within the United States as interest (except interest on deposits with persons carrying on the banking business), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable annual or periodical gains, profits, and income...
Page 51 - Is subject to a liability, shall be disregarded, or (D) a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor or its...
Page 50 - ... to be received without the recognition of gain, but also of other property or money, then the gain, if any, to the recipient shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property.
Page 240 - September 1, 1944), to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes...