Revenue Act of 1942-Continued. Income taxes-Continued. Estate tax- Basis of property in case of optional value for estate tax purposes - Deductions for ----------------- Estates- Deductions--------------------- Income received from, under gifts, bequests, etc--------------- Exchanges and distributions on order of Securities and Exchange Com- mission _ - ---- --- ---- --- ---- Exemption, personal, reduction -- -- Fiscal year taxpayers, certain ------ Fluorspar mines, percentage depletion for------------------------- Foreign corporations, treatment as nonresidents------------------ Foreign governments, employees of, reciprocal exemption of com- pensation-------------------- Foreign tax credit----------------- Gifts, basis of--------------------- Government obligations, interest on - Indebtedness, exclusion of income from discharge of------------- Insurance, denial of deduction if pro- ceeds used to pay for -------- Insurance companies- Life
Mutual, other than life or marine - Mutual marine----------------- Other than life or mutual------- Inventory, last-in first-out--------- . Inventory methods, report require- ment in connection with------- Investment companies, regulated- -- Last-in first-out inventory--------- Lessee, improvements by----------- Life insurance companies ---------- Life insurance contracts, etc., trans- fers of----------------------- Liquidation, distributions in------- Medical expenses, deduction for----- Metal mines, percentage depletion for_ Military personnel, additional allow- ance for --------------------- Mutual insurance companies. See under Insurance companies, supra. Naval personnel, additional allowance for ---------------------- Net operating losses- Credit, computation of---------- Two-year carry-over------------- Nontrade or nonbusiness deductions- Normal tax- Corporations--- --------------- Individuals-------------------- Page 840 861 861 809 881 827 837 840 860 842 856 840 811 811 827 867 872 870 870 814 814 878 814 812 867 80O 84] 825 84( 81' 81- 82 84 81 80 80 Revenue Act of 1942-Continued. Income taxes-Continued. Optional tax --------------------- Pension trusts ------------------ Personal exemption, reduction ----- Personal holding companies ------- Consolidated income------------ Deficiency dividends---------- 895, Distributions by--------------- Exemption of certain corporations- Rates of tax ------------------- Undistributed subchapter A net in- come, computation -------- Philippine Islands, employees of, re- ciprocal exemption of compensa- tion------------------------- Postponement of liability in certain cases byreason of war __------ Prior taxes, recovery of----------- Public Debt Act of 1941, amendments to conform Internal Revenue Code with ------------------ Railroad reorganizations, nonrecog- nition of loss and determination of basis in case of certain------ Refunds, statute of limitations on --- Retail sales taxes, State and local, deduction allowable to purchasers for ------------------------ Returns- Making of, under penalties for per- jury in lieu of oath -------- Period of less than 12 months--.-- Rock asphalt mines, percentage deple- tion for---------------------- Sales tax, retail, State and local, de- duction allowable to purchasers for ------------------------ Securities- Affiliated corporations, securities in, deduction for stock and bond losses----------------- Certain transactions in, not deemed trade or business ----------- Securities and Exchange Commission, exchanges and distributions on order of---------------------- Separate maintenance payments--- Services rendered for a period of 36 months or more, compensation for ----------------- --- Simplified return----------------- Sources without U. 3 ., income from -- Statute of limitations on refunds and credits --------------------- Stock and bond losses on securities in affiliated corporations, deduction for----
?age 803 862 827 894 895 897 895 894 894 895 842 961 812 811 838 876 820 836 834 840 820 820 875 881 816 837 803 841 876 820 INDEX LXXXIV
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