Revenue Act of 1942: Hearings Before the Committee on Finance, United States Senate, Seventy-seventh Congress, Seventh Congress, Second Session, on H.R. 7378, an Act to Provide Revenue, and for Other Purposes, Հատոր 2

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Էջ 1407 - In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 271/i, per centum of the gross income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or incurred by the taxpayer in respect of the property.
Էջ 1566 - CONVERSIONS. (a) GENERAL RULE. — 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...
Էջ 1733 - 2) Non-trade or non-business expenses. In the case of an individual, all the ordinary and necessary expenses paid or incurred during the taxable year for the production or collection of income, or for the management, conservation or maintenance of property held for the production of income.
Էջ 1821 - ... (B) such employees as qualify under a classification set up by the employer and found by the Secretary or his delegate not to be discriminatory in favor of employees who are officers, shareholders, persons whose principal duties consist in supervising the work of other employees, or highly compensated employees...
Էջ 1808 - Domestic building and loan associations substantially all the business of which is confined to making loans to members; and cooperative banks without capital stock organized and operated for mutual purposes and without profit...
Էջ 1505 - Income" means the net income with the following adjustments: (a) Additional deductions. There shall be allowed as deductions — (1) Federal income, war-profits, and excess-profits taxes paid or accrued during the taxable year to the extent not allowed as a deduction under section 23; but not including the tax imposed by section 102, section 500, or a section of a prior income-tax law corresponding to either of such sections.
Էջ 1583 - That for the purpose of the tax the value of the net estate shall be determined — "(a) In the case of a resident, by deducting from the value of the gross estate...
Էջ 2038 - ... expenses paid during the taxable year add expenses unpaid at the end of the taxable year and deduct expenses unpaid at the end of the preceding taxable year. For the purpose of computing the...
Էջ 1583 - States — (2) An amount equal to the value of any property (A) forming a part of the gross estate situated in the United States of any person who died within five years prior to the death of the decedent...
Էջ 1354 - For the purposes of this section the expenditures for clearing ground, draining, road making, surveying, geological work, excavation, grading, and the drilling, shooting, and cleaning of wells, are considered not to be represented by physical property, and when charged to capital account are returnable through depletion.

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