Reports of the U.S. Board of Tax Appeals, Volume 7U.S. Government Printing Office, 1928 - Taxation |
From inside the book
Results 1-5 of 99
Page 61
... loss of $ 59,572.46 and for the year 1921 a net operating loss of $ 82,742.09 in the operation of the Annandale Farm at Mount Kisco . During the five - month period from August to December , 1921 , petitioner sustained a net operating ...
... loss of $ 59,572.46 and for the year 1921 a net operating loss of $ 82,742.09 in the operation of the Annandale Farm at Mount Kisco . During the five - month period from August to December , 1921 , petitioner sustained a net operating ...
Page 63
... loss was incurred in the initial stages of so large an enterprise does not necessarily show the contrary . But ... loss . The amount of his losses for the years questioned here are not disputed . Raising and breeding horses may well be ...
... loss was incurred in the initial stages of so large an enterprise does not necessarily show the contrary . But ... loss . The amount of his losses for the years questioned here are not disputed . Raising and breeding horses may well be ...
Page 124
... loss in the amount of $ 87,682.25 ? If there was such a loss do the facts bring it within the provision of the law which allows deductions from gross income on account of losses sustained during the taxable year and not compensated for ...
... loss in the amount of $ 87,682.25 ? If there was such a loss do the facts bring it within the provision of the law which allows deductions from gross income on account of losses sustained during the taxable year and not compensated for ...
Page 125
... loss which it has measured and determined by capitalizing the earning power of the balance of assets carried forward . In its income and profits- tax return for 1919 it deducted the amount of the loss so determined and " made an ...
... loss which it has measured and determined by capitalizing the earning power of the balance of assets carried forward . In its income and profits- tax return for 1919 it deducted the amount of the loss so determined and " made an ...
Page 206
... loss . Other debits during 1914 .. Balance January 1 , 1915 .. Share of 1915 loss .. Other debits during 1915 . Balance January 1 , 1916 . Share of 1916 profits . Other credits in 1916 .. A. F. Riegger C. Riegger $ 116 , 768. 11 6 , 092 ...
... loss . Other debits during 1914 .. Balance January 1 , 1915 .. Share of 1915 loss .. Other debits during 1915 . Balance January 1 , 1916 . Share of 1916 profits . Other credits in 1916 .. A. F. Riegger C. Riegger $ 116 , 768. 11 6 , 092 ...
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Common terms and phrases
acquired acres agreement alleged allowed amount Appeal assessment assets basis Board bonds Boyne City building calendar capital stock cash cent claimed coal COMMISSIONER OF INTERNAL common stock computing contract corporation cost Cotter Pin debts December 31 deduction from gross deficiency in income depreciation determined disallowed dividends Docket evidence executors expenses February 28 filed FINDINGS OF FACT fiscal year ended gross income held income-tax return installment interest INTERNAL REVENUE inventory invested capital issued January John Parrott June 16 June 30 land lease Lessee liability loss Lumber March Mastin mortgage net income notes operations opinion paid par value parties partnership payment period peti petitioner petitioner's preferred stock prior proceeding Promulgated June purchase real estate received redetermination respondent Revenue Act Rule 50 salaries shares sold statute stockholders surplus taxable taxpayer thereof thereto timber tion tioner Trust Company White Company
Popular passages
Page 609 - That the tax imposed by sections 210 and 211 shall apply to the income of estates or of any kind of property held in trust...
Page 228 - taxable year" means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the net income is computed under section 212 or 232. The term "fiscal year" means an accounting period of twelve months ending on the last day of any month other than December. The term "taxable year...
Page 177 - ... gains, profits, and income derived from salaries, wages, or compensation for personal service of whatever kind and in whatever form paid, or from professions, vocations...
Page 177 - July seventeenth, nineteen hundred and sixteen; the compensation of the present President of the United States during the term for which he has been elected, and the judges of the Supreme and inferior courts of the United States now in office, and the compensation of all officers and employees of a State, or any political subdivision thereof, except when such compensation is paid by the United States Government.
Page 455 - ... (e) LOSSES BY INDIVIDUALS. — In the case of an individual, losses sustained during the taxable year and not compensated for by insurance or otherwise — if incurred in trade or business ; or if incurred in any transaction entered into for profit, though not connected with the trade or business...
Page 492 - ... that proportion of the installment payments actually received in that year which the total profit realized or to be realized when the payment is completed, bears to the total contract price.
Page 224 - ... factors, a reasonable allowance as compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits of such trade or business, shall be considered as earned income.
Page 182 - Act of 1918, a tax equal to the sum of the following percentages of the value of the net estate (determined as provided in Section 403) is hereby imposed upon the transfer of the net estate of every decedent dying after the passage of this Act, whether a resident or nonresident of the United States : ******* "Sec.
Page 975 - Income may be defined as the gain derived from capital, from labor, or from both combined," provided it be understood to include profit gained through a sale or conversion of capital assets, to which it was applied in the Doyle Case (pp.
Page 609 - ... there shall be allowed as an additional deduction in computing the net income of SESSION LAWS the estate or trust the amount of the income of the estate or trust for its taxable year which is properly paid or credited during such year to any legatee, heir or beneficiary.