What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
Common terms and phrases
adjusted gross income aggregate allowed amount basic table basis beneficiaries bonds capital assets classes and money classified combined computed corporation deficit determined distributions dividends effective exceed excess excludes exemption expenses extent Federal figures in thousands filed footnotes Form gain or loss gains and losses gifts gross estate gross income classes husband income tax Individual returns interest itemized deductions less limited loss from sales money figures months net income nontaxable returns normal tax Number of returns overpayment partnership payments percent prior profit received reported resulting returns for 1948 returns with adjusted sales of capital sales or exchanges sample Schedule separate share short short-term capital showing shown spouse standard deduction tabulated tax liability tax paid tax returns tax withheld taxable and nontaxable taxable fiduciary returns Taxable returns taxpayer thousands of dollars tion Total income classes trusts United wages
Page 61 - partnership" includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation; and the term "partner" includes a member in such a syndicate, group, pool, joint venture, or organization.
Page 179 - In the case of any 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...
Page 27 - ... resulting from such distribution shall be considered as a gain from the sale or exchange of a capital asset held for not more than 6 months.
Page 462 - ... visual acuity is greater than 20/200 but is accompanied by a limitation in the fields of vision such that the widest diameter of the visual field subtends an angle no greater than 20 degrees.
Page 318 - USC 742a), interest upon obligations issued on or after March 1, 1941, by the United States, or any ag-ency or instrumentality thereof, shall not have any exemption, as such, from Federal...
Page 24 - Stock possessing at least 80 percent of the voting power of all classes of stock and at least 80 percent of each class of the nonvoting stock of each of the...
Page 47 - ... personal holding company income; and (2) at any time during the last half of the taxable year more than 50 percent in value of its outstanding stock is owned, directly or indirectly, by or for not more than five individuals. The term "personal holding company...
Page 486 - ... cost or market, whichever is lower, for their 1920 inventories. The basis properly adopted for that year or any subsequent year is controlling, and a change can now be made only after permission is secured from the Commissioner. Application for permission to change the basis of valuing inventories shall be made in writing and filed with the Commissioner as provided in paragraph (e) of § 1.446-1.
Page 424 - In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed, or acquired, on or after April 6, 1917, for the production of articles contributing to the prosecution of the present war...
Page 443 - For purposes of this section, the term "earned income" means wages, salaries, or professional fees, and other amounts received as compensation for personal services actually rendered, but does not include that part of the compensation derived by the taxpayer for personal services rendered by him to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered.