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" No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale nor stocks, bonds, notes, choses in action, certificates of trust or... "
Comparison of the Revenue Acts of 1918 and 1921 - Page 9
by United States - 1924 - 240 pages
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Cases Decided in the Court of Claims of the United States, Volume 72

United States. Court of Claims - Law reports, digests, etc - 1932 - 800 pages
...of the revenue act of 1921 as amended (act of March 4, 1923, 42 Stat. 1560) reads as follows : "(1) When any such property held for investment, or for...interest) , is exchanged for property of a like kind or use." Under the provisions of the revenue act of 1921, no taxable gain was realized by plaintiff on...
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Cases Decided in the Court of Claims of the United States, Volume 83

United States. Court of Claims - Law reports, digests, etc - 1937 - 786 pages
...202 of the Revenue Act of 1021 is amended, to take effect January 1, 1923. to read as follows: (1) When any such property held for investment, or for...business (not including stock-in-trade or other property heM primarily for sale, and in the case of property hel.l for investment not including stock, bonds,...
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Statutes of the United States of America

United States - Law - 1921 - 642 pages
...a readily realizable market value, no gain or loss shall be recognized — ir tor similar prop- (i) When any such property held for investment, or for...stock-in-trade or other property held primarily for sale) , is exchanged for property of a like kind or use; when stock, etc., ro- (2) When in the reorganization...
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The Federal Statutes Annotated: Containing All the Laws of the ..., Volume 4

United States - Law - 1922 - 1028 pages
...received in exchange has a readily realizable market value, no gain or loss shall be recognized — (1) When any such property held for investment, or for...stock-in-trade or other property held primarily for sale), is exchanged for property of a like kind or use; (2) When in the reorganization of one or more corporations...
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Barnes' Federal Code: Containing All Federal Statutes of General and Public ...

United States - Law - 1922 - 756 pages
...received in exchange has a readily realizable market value, no gain or loss shall be recognized — (1) When any such property held for investment, or for...stock-in-trade or other property held primarily for sale), is exchanged for property of a like kind or use; (2) When in the reorganization of one or more corporations...
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Federal Income Tax Problems --1922

Emerson Emanuel Rossmoore - Income tax - 1922 - 592 pages
...received in exchange has a readily realizable market value, no gain or loss shall be recognized— "(1) When any such property held for investment, or for...stock-in-trade or other property held primarily for sale), is exchanged for property of a like kind or use; . . ." PROBLEM 27 Illustrating Basis for Determining...
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The Bulletin of the National Tax Association, Volumes 7-8

National Tax Association - Law - 1922 - 622 pages
...the recommendations of the Treasury. The revised section provides in effect that exchanges of stocks, bonds, notes, choses in action, certificates of trust...securities or evidences of indebtedness or interest shall constitute closed transactions, resulting immediately in taxable gain or deductible loss, except...
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Practical Questions and Answers on the Federal Tax Laws Affecting Individual ...

Irving Bank. Columbia Trust Company - Income tax - 1923 - 148 pages
...received in exchange has a readily realizable market value, no gain or loss shall be recognized — (1) When any such property held for investment, or for...stock-in-trade or other property held primarily for sale), is exchanged for property of a like kind or use; (2) When in the reorganization of one or more corporations...
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Treasury Decisions Under Internal Revenue Laws ..., Volume 22, Issues 2959-3111

United States. Internal Revenue Service, United States. Office of Commissioner of Internal Revenue - Taxation - 1924 - 406 pages
...received in exchange has a readily realizable market value, no gain or loss shall be recognized — (1) When any such property held for investment, or for...for investment not including stock, bonds, notes, chases in action, certificates of trust or beneficial interest, or other securities or evidences of...
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Accounting Principles Underlying Federal Income Taxes: 1924

Eric Louis Kohler - Accounting - 1924 - 514 pages
...received in exchange has a readily realizable market value, no gain or loss shall be recognized — (1) When any such property held for investment, or for...for investment not including stock, bonds, notes, chases in action, certificates of trust or beneficial interest, or other securities or evidences of...
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