Reports of the Tax Court of the United States, Volume 80U.S. Government Printing Office, 1983 - Taxation |
From inside the book
Results 1-5 of 100
Page 31
... capital gain ” under sec . 163 ( d ) ( 1 ) C ) or a " dividend " under sec . 163 ( d ) ( 1 ) ( B ) had the effect of permitting a taxpayer to increase his investment interest deduction . However , if the income were characterized as a ...
... capital gain ” under sec . 163 ( d ) ( 1 ) C ) or a " dividend " under sec . 163 ( d ) ( 1 ) ( B ) had the effect of permitting a taxpayer to increase his investment interest deduction . However , if the income were characterized as a ...
Page 34
... capital gain over net short - term capital loss . Under the 1982 Act , an S corporation ( officially designated as such by the 1982 Act ) , is treated as a conduit much like a partnership . Items of income , deduction , or credit , and ...
... capital gain over net short - term capital loss . Under the 1982 Act , an S corporation ( officially designated as such by the 1982 Act ) , is treated as a conduit much like a partnership . Items of income , deduction , or credit , and ...
Page 39
... capital gain rather than ordinary income . A complicat- ed transaction , consisting of a series of incorporations , transfers , liquidations , and mergers , was then devised to disguise the terms of the agreement involving the 100 ...
... capital gain rather than ordinary income . A complicat- ed transaction , consisting of a series of incorporations , transfers , liquidations , and mergers , was then devised to disguise the terms of the agreement involving the 100 ...
Page 60
... capital- ization of interest will be described later in greater detail . Because of a scandal during the early 1960's involving the 14The financial powers described above were expressed in the act as follows : SEC . 87. The district may ...
... capital- ization of interest will be described later in greater detail . Because of a scandal during the early 1960's involving the 14The financial powers described above were expressed in the act as follows : SEC . 87. The district may ...
Page 88
... capital contribution , Esteroy had no assets . It used as its address the same post office box as the partnership . On its Federal income tax return for the taxable year beginning April 23 , 1963 , and ending February 29 , 1964 ...
... capital contribution , Esteroy had no assets . It used as its address the same post office box as the partnership . On its Federal income tax return for the taxable year beginning April 23 , 1963 , and ending February 29 , 1964 ...
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Common terms and phrases
9th Cir acquired adjustment affd agreement allocation Alps Corp amount application assets bank basis benefit bonds bonus Brewer's Island California capital carryback cash Champlin claimed Commissioner contract corporation Court debt decedent deduction distribution district earnings easement Estero exchange exemption expenses fact fair market value Federal income tax filed fiscal Foster Bayou Foster City Foster Enterprises Foster partnership GRFF Hoblitzelle Foundation Income Tax Regs income tax return interest Internal Revenue Code Internal Revenue Service investment issue Jack Foster Kroger land lease liability Likins-Foster loan notice of deficiency operating loss paid parties partner payments percent petitioner petitioner's prior profits purposes pursuant qualified real property received record reinsurance rental Rept Republic National Bank respondent's rule San Mateo County section 482 shareholders shares specific supra T.C. Memo taxable income taxpayer tion trade or business transfer trust U.S. dollar United Westway
Popular passages
Page 142 - ... in order to prevent evasion of taxes or clearly to reflect the income of any of such organizations, trades, or businesses.
Page 141 - The legal right of a taxpayer to decrease the amount of what otherwise would be his taxes, or altogether avoid them, by means which the law permits, cannot be doubted.
Page 1066 - Receipts of shipowners' mutual protection and Indemnity associations; Dividends from China Trade Act corporations; Compensation of employees of foreign governments. (c) Inventories. — Whenever In the opinion of the Commissioner the use of Inventories is necessary In order clearly to determine the Income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best...
Page 188 - In contravention of the agreement between the partners, where the circumstances do not permit a dissolution under any other provision of this section, by the express will of any partner at any time...
Page 845 - In determining his income tax. each partner shall take into account separately his distributive share of the partnership's...
Page 501 - If an exchange would be within the provisions of paragraph (3) of sub-division (b) if it were not for the fact that the property received in exchange consists not only of stock or securities permitted by such paragraph to be received without the recognition of gain, but also of other property or money...
Page 300 - Basically, the question in each case is whether the facts alleged, under all the circumstances, show that there is a substantial controversy, between parties having adverse legal interests, of sufficient immediacy and reality to warrant the issuance of a declaratory judgment.
Page 774 - In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material incomeproducing factors...
Page 555 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close .of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 849 - An assignee for the benefit of creditors or any person appointed by the court shall have the right to enforce the contributions specified in clause (d) of this paragraph.