Page:United States Statutes at Large Volume 45 Part 2.djvu/1519

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Income Tax, Title I, Revenue Act of 19f8- Continued. m~~nin~ of term~; "cap~~al net loss" __ ordmary net mcome ___________ _ "capital assets" _________________ _ property not included __________ _ property received on exchange ___ _ perlOd of property holder _______ _ stock recel ved on reorganization __ collection and payment of tax o~ net gain and net 1088 _____________ _ sales of mines, and oil or gas wells, tax on selling price ______________ _ limit on 12~ per cent rate of tax ___ _ exemption of tax on corporations____ _ labor, agricultural, etc., organiza- tions _______________________ _ mutual savings banks ____________ _ fraternal beneficiary societies _____ _ domestic building and loan associa.- tions _______________________ _ mutual cemetery companies _______ _ corporations, community chests, etc., for religious, scientific, etc., pur- poses _______________________ _ business leagues _________________ _ civic leagues, employees' associations, etc _________________________ _ pleasure clubs ___________________ _ local life insurance, mutual ditch, etc., companies ______________ _ farmers mutual insurance companies_ cooperative association of farmers, etc., for marketing their prod- ucts ________________________ _ purchasing supplies and equipment for members_________________ _ capital stock associations re- stricted _____________________ _ limitation on marketing products of nonmembers ______________ _ organizations by exempt associations for financing crop products of members ____________________ _ restrictions as to dividend rate of stock; reserve allowed ________ _ trustees for exempted organization __ Federal loan banks, farm loan asso- ciations, intermediate credit banks ______________________ _ voluntary employees beneficiary as- sociation for life, accident, etc., benefit _____________________ _ teachers retirement fund associa- tions _______________________ _ tax on income of corporations accumu- lating gains, etc., to avoid surtax on its shareholders ___________ _ additional to corporation tax _____ _ evidence of p'urpose of evasion _____ _ meanin/$ of 'net income" as used __ _ additlOnal tax not applicable if distributive share mcluded in income of shareholders ________ _ subsequent distributlOn exempt__ _ computation of tax for period beginning in one calendar year and ending in the following ______________ _ computation of net income __________ _ basis of determining gain or loss on disposal of property __________ _ computation; adjustment to capital loss ________________________ _ deductions on exchange of property; limitation___________________ _ INDEX. 3173 811 811 811 812 812 812 812 812 812 812 812 812 812 812 812 813 813 813 813 813 813 813 813 813 813 814 814 814 814 814 814 814 814 814 815 815 815 815 815 815 815 815 815 I ncome Tax, Title It Revenue Act of 19f8- Continued. basis of determining gain or loss; com- putation; if acquired before ~arch 1,1913_______________ _ in case of stock ________________ _ amount realized on sale of property_ determination of gain or loss ______ _ installment sales _______________ _ recognition of entire gain or loss on sales or exchange of property __ no gain or loss on exchange for similar __ for similar stock in same corporation_ stock received for stock on reorgani- zation ______________________ _ property ~or .stock of party to fa- orgawzatlOn ________________ _ transfers for stock of corporation under same controL _________ _ gain from exchanges not solely in kind __ for property received additional to that on which gain recognized __ reorganization distribution consid- ered as taxable dividends _____ _ reorganization with property and other stock received __________ _ no gain if distributed on organiza. - tion ________________________ _ gain recognized if not distributed __ no loss if property received other than that on which gain or loss recog- nized _______________________ _ no gain or 108s for involuntary conver- sion into similar property_____ _ gain recognized on part not used__ _ no gain if additional stock received on reorganization, and holding not surrendered _________________ _ stock distributed on reorganization not construed as earnings, etc _____ _ definition of "reorganization"; corpo- ration acts constituting _______ _ corporations included as "a party to a reorganization" ___ ___ __ ___ __ _ ownership of stock constituting con- trol __________ ~ ___ ___ __ ___ __ _ basis for determining gain or 1088 ____ _ property acquired after February 28, 1913, the cost thereoL _______ _ inventory value ________________ _ value of gifts after December 31, 1920; ascertainment _________ _ trust property acquired after De- cember 31, 1920, value as in hand of grantor _____________ _ gi'ts or trusts before December 31, 1920, fair market value_______ _ property acquired by bequest, etc., for fair market value _________ _ transfers in trust with right of revo- cation ______________________ _ property acquired on exchanges; partly by exchange and other property ____________________ _ stock issues as consideration, ex- cepted ______________________ _ property other than stock acquired by same corporation after December 31,1917 ____________________ _ not applicable to stock issues ___ _ acquired after December 31, 1920, on reorganization and same party in controL _____________ _ stock, etc., distributed on reorgani- zation after December 31, 1923_ 816 816 816 816 816 816 816 816 816 g16 816 817 817 817 817 817 817 817 817 817 818 818 818 818 818 818 818 818 818 819 819 819 819 819 819 819 820 820 820