Sec.

1.503 (d)-1 Future status of organizations denied exemption.

1.503(d)-2 Fiscal years and short taxable years ending after March 1, 1954, subject to the Internal Revenue Code of 1939.

1.503(e) Statutory provisions; requirements for exemption; disallowance of certain charitable, etc., deductions.

1.503(e)-1 Disallowance of certain charitable deductions.

1.503 (1) Statutory provisions; requirements for exemption; definition.

1.503(g) Statutory provisions; requirements for exemption; special rule for loans. 1.503(g)-1 Cross references.

1.503 (h)

Statutory provisions; requirements for exemption; special rules relating to lending by section 401(a) and section 501(c) (17) trusts to certain persons. 1.503 (h)-1 Certain loans by employees' trusts and supplemental unemployment benefit trusts.

1.503 (h)-2 Requirements.

1.503 (h)-3 Effective dates.

1.503 (1) Statutory provisions; requirements for exemption; loans with respect to which employers are prohibited from pledging certain assets.

1.503(1)-1 Loans by employers who are prohibited from pledging assets.

1.503 (j) Statutory provisions; requirements for exemption; trusts benefiting certain owner-employees.

1.503(j)-1 Trusts benefiting certain owner-employees.

1.504 Statutory provisions; denial of exemption.

1.504-1 Denial of exemption.

EXEMPT ORGANIZATIONS

PRIVATE FOUNDATIONS

1.507 Statutory provisions; termination of private foundation status; general rule. 1.507-1

General rule.

1.507-2 Special rules; transfer to, or operation as, public charity.

1.507-3 Special rules; transferee foundations.

1.507-4 Imposition of tax.

1.507-5 Aggregate tax benefit; in general.

Substantial contributor defined.

1.507-6

1.508 Statutory provisions; special rules with respect to certain 501(c)(3) organizations.

1.508-2 Disallowance of certain charitable, etc., deductions.

1.508-3 Governing instruments.

1.508-4 Effective date.

1.509(a) Statutory provisions; private foundation defined; general rule.

1.509(a)-1 Definition of private foundation.

1.509(a)-2 Exclusion for certain organizations described in section 170(b) (1) (A). 1.509(a)-3 Broadly, publicly supported organizations.

1.509(a)-7 Reliance by grantors and contributors to section 509 (a) (1), (2), and (3) organizations.

1.509(b) Statutory provisions; private foundation defined; continuation of private foundation status.

1.509(b)-1 Continuation of private foundation status.

1.509 (c) Statutory provisions; private foundation defined; status of organization after termination of private foundation status.

1.509(c)-1 Status of organization after termination of private foundation status. 1.509 (d) Statutory provisions; private foundation defined; definition of support. 1.509(d)-1 Definition of support.

1.509(e) Statutory provisions; private foundation defined; definition of gross

investment income.

1.509(e)-1 Definition of gross investment income.

TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS

1.511 Statutory provisions; imposition of tax on unrelated business income of charitable, etc., organizations.

Sec.

1.511-1 Imposition and rates of tax.

1.511-2 Organizations subject to tax.

1.511-3 Provisions generally applicable to the tax on unrelated business income. 1.512(a) Statutory provisions; unrelated business taxable income; definition. 1.512(a)-1 Definition.

1.512(a)-2 Definition applicable to taxable years beginning before December 13, 1967.

1.512(b) Statutory provisions; unrelated business taxable income; modifications. 1.512(b)-1 Modifications.

1.512(c) Statutory provisions; unrelated business taxable income; special rules applicable to partnerships.

1.512(c)-1 Special rules applicable to partnerships; in general.

1.513 Statutory provisions; unrelated trade or business.

1.513-1 Definition of unrelated trade or business.

1.513-2 Definition of unrelated trade or business applicable to taxable years beginning before December 13, 1967.

1.514(a) Statutory provisions; unrelated debt-financed income; unrelated debtfinanced income and deductions.

1.514(a)-1 Unrelated debt-financed income and deductions.

1.514(a)-2 Business lease rents and deductions for taxable years beginning before January 1, 1970.

1.514(b) Statutory provisions; unrelated debt-financed income; definition of debtfinanced property.

1.514(b)-1 Definition of debt-financed property.

1.514(c) Statutory provisions; unrelated debt-financed income; acquisition indebtedness.

1.514(c)-1 Acquisition indebtedness.

1.514(d) Statutory provisions; unrelated debt-financed income; basis of debtfinanced property acquired in corporate liquidation.

1.514(d)-1 Basis of debt-financed property acquired in corporate liquidation.

1.514(e) Statutory provisions; unrelated debt-financed income; allocation rules. 1.514(e)-1 Allocation rules.

1.514(f) Statutory provisions; unrelated debt-financed income; definition of business lease.

1.514(f)-1 Definition of business lease.

1.514(g) Statutory provisions; unrelated debt-financed income; business lease indebtedness.

1.514(g)-1 Business lease indebtedness.

1.514(h) Statutory provisions; business leases; personal property leased with real

property.

1.515 Statutory provisions; taxes of foreign countries and possessions of the United States.

FARMERS' COOPERATIVES

1.521 Statutory provisions; exemption of farniers' cooperatives from tax. 1.521-1 Farmers' cooperative marketing and purchasing associations; requirements for exemption under section 521.

1.522 Statutory provisions; tax on farmers' cooperatives.

1.522-1 Tax treatment of farmers' cooperative marketing and purchasing associations exempt under section 521.

1.522-2 Manner of taxation of cooperative associations subject to section 522. 1.522-3 Patronage dividends, rebates, or refunds, treatment as to cooperative associations entitled to tax treatment under section 522.

1.522-4 Taxable years affected.

SHIPOWNERS' PROTECTION AND INDEMNITY ASSOCIATIONS

1.526 Statutory provisions; shipowners' protection and indemnity associations. CORPORATIONS USED TO AVOID INCOME TAX ON SHAREHOLDERS CORPORATIONS IMPROPERLY ACCUMULATING SURPLUS

1.531 Statutory provisions; imposition of accumulated earnings tax.

1.531-1 Imposition of tax.

1.532 Statutory provisions; corporations subject to accumulated earnings tax. 1.532-1 Corporations subject to accumulated earnings tax.

1.533 Statutory provisions; evidence of purpose to avoid income tax. 1.533-1 Evidence of purpose to avoid income tax.

Sec.

1.533-2 Statement required.

1.534 Statutory provisions; burden of proof.

1.534-1 Burden of proof as to unreasonable accumulations generally.

1.534-2 Burden of proof as to unreasonable accumulations in cases before the Tax Court.

1.534-3 Jeopardy assessments in Tax Court cases.

1.534-4 Taxable years subject to the Internal Revenue Code of 1939.

1.535 Statutory provisions; accumulated taxable income.

1.535-1

1.535-2

1.535-3

1.536

Definition.

Adjustments to taxable income.

Accumulated earnings credit.

Statutory provisions; income not placed on annual basis.

1.536-1 Short taxable years.

1.537 Statutory provisions; reasonable needs of the business. 1.537-1 Reasonable needs of the business.

1.537-2 Grounds for accumulation of earnings and profits. 1.537-3 Business of the corporation.

PERSONAL HOLDING COMPANIES

1.541 Statutory provisions; imposition of personal holding company tax. 1.541-1 Imposition of tax.

1.542 Statutory provisions; definition of personal holding company. 1.542-1

General rule.

1.542-2 Gross income requirement.

1.542-3 Stock ownership requirement.

1.542-4 Corporations filing consolidated returns.

1.543 Statutory provisions; definition of personal holding company income. 1.543-1

Personal holding company income.

1.543-2 Limitation on gross income and personal holding company income in transactions involving stocks, securities, and commodities.

1.544 Statutory provisions; rules for determining stock ownership.

1.544-1 Constructive ownership.

1.544-2 Constructive ownership by reason of indirect ownership.

1.544-3 Constructive ownership by reason of family and partnership ownership. 1.544-4 Options.

1.544-5

1.544-6

Convertible securities.

Constructive ownership as actual ownership.

1.544-7 Option rule in lieu of family and partnership rule.

1.545 Statutory provisions; undistributed personal holding company income. 1.545-1

1.545-2

1.545-3

Definition.

Adjustments to taxable income.

Special adjustment to taxable income.

1.546 Statutory provisions; income not placed on annual basis.

1.547 Statutory provisions; deduction for deficiency dividends.

1.547-2 Requirements for deficiency dividends.

1.547-3 Claim for credit or refund.

1.547-4 Effect on dividends paid deduction.

1.547-5 Deduction denied in case of fraud or wilful failure to fille timely return. 1.547-6

Suspension of statute of limitations and stay of collection.

1.547-7 Effective date.

FOREIGN PERSONAL HOLDING COMPANIES

1.551 Statutory provisions; foreign personal holding company income taxed to United States shareholders.

1.551-1

General rule.

1.551-2 Amount included in gross income.

1.551-3 Deduction for obligations of the United States and its instrumentalities. 1.551-4

Information in return.

1.551-5 Effect on capital account of foreign personal holding company and basis of stock in hands of shareholders.

1.552 Statutory provisions; definition of foreign personal holding company.

1.552-1 Definition of foreign personal holding company.

1.552-2 Gross income requirement.

1.552-3 Stock ownership requirement.

Sec.

1.552-4 1.552-5

Certain excluded banks.

United States shareholder of excluded bank.

1.553 Statutory provisions; foreign personal holding company income.

1.553-1 Foreign personal holding company income.

1.554 Statutory provisions; stock ownership.

1.554-1 Stock ownership.

1.555 Statutory provisions; gross income of foreign personal holding companies. 1.555-1 General rule.

1.555-2 Additions to gross income.

1.556 Statutory provisions; undistributed foreign personal holding company income.

1.556-1 Definition.

1.556-2 Adjustments to taxable income.

1.556-3 Illustration of computation of undistributed foreign personal holding company income.

1.557 Statutory provisions; income not placed on annual basis.

1.558 Statutory provisions; returns of officers, directors, and shareholders of foreign personal holding companies.

DEDUCTION FOR DIVIDENDS PAID

1.561 Statutory provisions; definition of deduction for dividends paid.

1.561-1

Deduction for dividends paid.

1.561-2 When dividends are considered paid.

1.562 Statutory provisions; rules applicable in determining dividends eligible for dividends paid deduction.

1.562-1 Dividends for which the dividends paid deduction is allowable.

1.562-2

Preferential dividends.

1.562-3 Distributions by a member of an affiliated group.

1.563 Statutory provisions; rules relating to dividends paid after close of taxable

year.

1.563-1 Accumulated earnings tax.

1.563-2 Personal holding company tax.

1.563-3 Dividends considered as paid on last day of taxable year.

1.564 Statutory provisions; dividend carryover.

1.564-1 Dividend carryover.

1.565 Statutory provisions; consent dividends.

1.565-1

1.565-2

General rule.

Limitations.

1.581-2 Mutual savings banks, building and loan associations, and cooperative

banks.

1.581-3 Definition of bank prior to September 28, 1962.

1.582 Statutory provisions; bad debts, losses, and gains with respect to securities held by financial institutions.

1.582-1 Bad debts, losses, and gains with respect to securities held by financial institutions.

1.583 Statutory provisions; deductions of dividends paid on certain preferred

stock.

1.584 Statutory provisions; common trust funds.

1.584-1 Common trust funds.

1.584-2 Income of participants in common trust fund.

1.584-3 Computation of common trust fund income.

1.584-4 Admission and withdrawal of participants in the common trust fund. 1.584-5

Returns of banks with respect to common trust funds.

1.584-6 Net operating loss deduction.

Sec.

MUTUAL SAVINGS BANKS, ETC.

1.591 Statutory provisions; deduction for dividends paid on deposits. 1.591-1 Deduction for dividends paid on deposits.

1.592 Statutory provisions; deduction for repayment of certain loans.

1.592-1 Repayment of certain loans by mutual savings banks, building and loan associations, and cooperative banks.

1.593 Statutory provisions; reserves for losses on loans.

1.593-1 Additions to reserve for bad debts.

1.593-2 Additions to reserve for bad debts where surplus, reserves, and undivided profits equal or exceed 12 percent of deposits or withdrawable accounts.

1.593-6 Addition to reserve for losses on qualifying real property loans. 1.593-7

Establishment and treatment of reserves for bad debts.

1.593-8 Allocation of pre-1952 surplus to opening balance of reserve for losses on qualifying real property loans.

1.593-9 Taxable income for taxable years beginning in 1962 and ending in 1963. 1.593-10 Certain distributions to shareholders by a domestic building and loan association.

1.593-11 Qualifying real property loan and nonqualifying loan defined.

1.594 Statutory provisions; alternative tax for mutual savings banks conducting life insurance business.

1.594-1 Mutual savings banks conducting life insurance business.

1.595 Statutory provisions; foreclosure on property securing loans.

1.595-1 Treatment of foreclosed property by certain creditors.

1.596 Statutory provisions; limitation on dividends received deduction. 1.596-1 Limitation on dividends received deduction.

BANK AFFILIATES

1.601 Statutory provisions; special deduction for bank affiliates. 1.601-1 Special deduction for bank affiliates.

NATURAL RESOURCES

DEDUCTIONS

1.611 Statutory provisions; allowance of deduction for depletion. 1.611-0 Regulatory authority.

1.611-2 Rules applicable to mines, oil and gas wells, and other natural deposits. 1.611-3 Rules applicable to timber.

1.611-4 Depletion as a factor in computing earnings and profits for dividend

purposes.

1.611-5 Depreciation of improvements.

1.812 Statutory provisions; basis for cost depletion.

1.612-1 Basis for allowance of cost depletion.

1.612-2 Allowable capital additions in case of mines.

1.612-3 Depletion; treatment of bonus and advanced royalty.

1.612-4 Charges to capital and to expense in case of oil and gas wells.

1.613 Statutory provisions; percentage depletion.

1.613-1 Percentage depletion; general rule.

1.613-4 Gross income from the property in the case of minerals other than oil and gas.

1.613-5 Taxable income from the property.

1.613-6 Statement to be attached to return when depletion is claimed on percentage basis.

1.613-7 Application of percentage depletion rates provided in section 613(b) to certain taxable years ending in 1954.

1.614 Statutory provisions; definition of property.

1.614-2 Election to aggregate separate operating mineral interests under section 614(b) prior to its amendment by Revenue Act of 1964.

1.614-3 Rules relating to separate operating mineral interests in the case of mines.

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