The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1974 - Administrative law The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
additional depreciation adjusted basis affiliated group allowed amended by T.D. apply April 15 attributable beginning after December calendar capital asset carryback common parent computed consolidated return contract or subcontract controlled foreign corporation December 31 deduction described in section determined distribution dividend earnings and profits electing small business erty Example excess profit fair market value filed foreign corporation gain or loss graph gross income included income tax Internal Revenue Code January justments long-term capital loss ment nonresident alien notice of allocation operating loss ordinary income paid paragraph partnership payment percent poration portion prior taxable pursuant refund respect sale or exchange section 1250 property separate return shareholder short-term capital loss small business corporation spect Statutory provisions subdivision subpara subparagraph subsection taken into account tax imposed taxable income taxable year ending taxable years beginning taxpayer tier corporation tion trade or business transaction treated
Popular passages
Page 37 - 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 455 - Secretary or his delegate that such exchange is not in pursuance of a plan having as one of its principal purposes the avoidance of Federal income taxes.
Page 38 - ... (3) a copyright, a literary, musical, or artistic composition, or similar property, held by (A) a taxpayer whose personal efforts created such property, or (B) a taxpayer in whose hands the basis of such property is determined, for the purpose of determining gain from a sale or exchange, in whole or in part by reference to the basis of such property in the hands of the person whose personal efforts created such property...
Page 44 - ... (2) General rule. — If, during the taxable year, the recognized gains upon sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or the threat or imminence thereof...
Page 371 - Payments for the use or occupancy of rooms or other space where services are also rendered to the occupant, such as for the use or occupancy of rooms or other quarters in hotels, boarding houses, or apartment houses furnishing hotel services, or in tourist camps or tourist homes, or payments for the use or occupancy of space in parking lots, warehouses, or storage garages, do not constitute rentals from real estate; consequently such payments are included in determining net earnings from self-employment.
Page 387 - PRACTITIONERS. — (1) WAIVER CERTIFICATE. — Any individual who is (A) a duly ordained, commissioned, or licensed minister of a church or a member of a religious order (other than a member of a religious order who has taken a vow of poverty as a member of such order) or (B) a Christian Science practitioner...
Page 42 - Included the period for which such property was held by any other person, if under this chapter such property has, for the purpose of determining gain or loss from a sale or exchange, the same basis in whole or in part in his hands as it would have in the hands of such other person.
Page 408 - ... (1) That portion of any scholarship or fellowship grant which is received by a nonresident alien individual who is temporarily present in the United States as a nonimmigrant under subparagraph (F) or (J) of section 101(a)(15) of the Immigration and Nationality Act, as amended...
Page 454 - The amount of the tax previously determined shall be the excess of— (1) the sum of (A) the amount shown as the tax by the taxpayer upon his return (determined as provided in section 271 (b) (1) and (3)), if a return was made by the taxpayer and an amount was...
Page 41 - Included the period for which he held the property exchanged, If under the provisions of section 113, the property received has, for the purpose of determining gain or loss from a sale or exchange, the same basis in whole or In part In his hands as the property exchanged.