Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and Index

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Division of the Federal Register, the National Archives, 1971

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Página 25 - If, during the taxable year, the recognized gains on 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...
Página 215 - ... in the exercise of his ministry, or by a member of a religious order in the exercise of duties required by such order...
Página 25 - ... property used in the trade or business and capital assets held for more than 6 months into other property or money, exceed the recognized losses from such sales, exchanges, and conversions, such gains and losses shall be considered as gains and losses from sales or exchanges of capital assets held for more than 6 months.
Página 218 - ... title upon the obligee, or to reimburse the obligee for any portion of the tax, or to pay the interest without deduction for any tax which the obligor may be required or permitted to pay thereon or to retain therefrom -under any law of the United States...
Página 23 - ... (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...
Página 23 - In determining the period for which the taxpayer has held property however acquired there shall be included the period for which such property was held by any other person, if under...
Página 221 - ... it has been established to the satisfaction of the 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.
Página 24 - ... 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.
Página 23 - Is subject to the allowance for depreciation provided in section 23 (1), or an obligation of the United States or any of its possessions, or of a State or Territory, or any political subdivision thereof, or of the District of Columbia, Issued on or after March 1, 1941, on a discount basis and payable without Interest at a fixed maturity date not exceeding one year from the date of issue, or real property used in the trade or business of the taxpayer; (2) Short-term capital gain. The term "short-term...
Página 25 - Such term also includes livestock, regardless of age, held by the taxpayer for draft, breeding, or dairy purposes, and held by him for 12 months or more from the date of acquisition. Such term does not include poultry. (4) UNHARVESTED CROP. — In the case of an unharvested crop on land used in the trade or business...

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