 Debts ascertained to be worthless and charged off within the taxable year (or, In the discretion of the Commissioner, a reasonable addition to a reserve for bad debts); and when satisfied that a debt is recoverable only In part, the Commissioner may allow...  United States Code - Page 3296by United States - 1953Full view - About this book
 | United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 350 pages
...SALES OF STOCK OR SECURITIES. — For disallowance of loss deduction in the case of sales of stock oi~ securities where within thirty days before or after...year, as a deduction. This paragraph, shall not apply * * * with respect to a debt evidenced by a security as defined in paragraph (3) of this subsection.... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - Income tax - 1946 - 428 pages
...other disposition of property. . (j) Loss ON WASH SALES OF STOCK OR SECURITIES. — For disallowance of loss deduction in the case of sales of stock or securities...year, as a deduction. This paragraph shall not apply * * * with respect to a debt evidenced by a security as defined in paragraph (3) of this subsection.... | |
 | Administrative law - 1954 - 1486 pages
...which become worthless within the taxable year; or (in the discretion of the Commisstoner) a reasonable addition to a reserve for bad debts; and when satisfied...amount not in excess of the part charged off within the tax. able year, as a deduction. This paragraph shall not apply in the case of a taxpayer. other than... | |
 | United States, Walter Elbert Barton - Income tax - 1950 - 1126 pages
...has acquired substantially Identical property, see section 118. Sec. 23. (k) Bad debts. See. 23. (k) (1) General rule Debts which become worthless within...Commissioner may allow such debt, in an amount not in excess sf the part charged off which 4jooomoe worthloca within the taxable fear, as a deduction. This para... | |
 | United States. Tax Court - Taxation - 1953 - 1328 pages
...the extent provided In section 117. ••••••• (k| BAD DEBTS. — (1) GENERAL BOLE. — Debts which become worthless within the taxable year;...may allow such debt. In an amount not in excess of the port charged off within the taxable year, as a deduction. • • • This paragraph shall not... | |
 | United States. Tax Court - Law reports, digests, etc - 1953 - 1326 pages
...shall be allowed as deductions : • •••••• (k) BAD DBBTB. — (1) GENERAL IUJI.E. — Debts which become worthless within the taxable year;...in part, the Commissioner may allow such debt. In nn amount not in excess of the part charged off within the taxable year, as a deduction. This paragraph... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1957 - 1100 pages
...amended, 26 USC 23, provides : In computing net income there shall be allowed as deductions : ***** (k) Bad debts. (1) General rule. Debts which become...charged off within the taxable year, as a deduction. * * * The record amply supports the finding of the commissioner of this court that the plaintiff's... | |
 | United States. Tax Court - Taxation - 1957 - 1178 pages
...connected wltb the trade or business ; or • •••••• (k) BAD DEBTS. — (1) GENERAL BULK. — Debts which become worthless within the taxable year;...excess of the part charged off within the taxable year. »» a deduction. • • • as above; (3) if not so regarded, the corporation should be found to... | |
 | United States. Tax Court - Law reports, digests, etc - 1957 - 1306 pages
...there shall be allowed as deductions : • »*••»• (k) BAD DEBTS. — (1) GENERAL BULB. — Debts which become worthless within the taxable year...recoverable only in part, the Commissioner may allow each debt, in an amount not in excess of the part charged off within the taxable year, as a deduction.... | |
 | United States. Tax Court - Law reports, digests, etc - 1959 - 1608 pages
...BAD DEBTS. — (1) GENERAL RULE. — Debts which become worthless within the taxable year • • • and when satisfied that a debt Is recoverable only...paragraph shall not apply In the case of a taxpayer, other than a corporation, with respect to a non-business debt, as defined In paragraph (4) of this subsection.... | |
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