The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 2000 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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30-percent capital gain absorption ratio acquired adjusted basis adjusted gross income allocable allowed under section amortizable amortization amounts paid apply assets capital gain property carryback charitable contributions clude computation period contributed property corporation December 31 deduction allowable deduction under section depreciation described in paragraph described in section determined dividends duction erty expenditures fair market value farming filed gible graph income tax Internal Revenue Code inventory January lease LIFO limitation ment method of accounting organization paid or incurred partnership payer payment penditures penses percent person poration portion preferred stock production prop purchase purposes of section pursuant qualified real property regulations thereunder relating resale respect riod section 197 intangible section 263A costs spect spouse subdivision subpara subparagraph taken into account taxable income taxable years beginning taxpayer tion trade or business transaction treated as paid tribution unit
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9. lappuse - The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.
15. lappuse - ... an educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on...
17. lappuse - support" does not include — (1) Any amounts received from the exercise or performance by an organization of its charitable, educational, or other purpose or function constituting the basis for its exemption under section 501 (a).
93. lappuse - ... any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the profits derived) to the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption...
59. lappuse - Future interests" is a legal term, and includes reversions, remainders, and other interests or estates, whether vested or contingent, and whether or not supported by a particular interest or estate, which are limited to commence in use, possession, or enjoyment at some future date or time.
318. lappuse - Expenses, to be deductible under section 212, must be "ordinary and necessary". Thus, such expenses must be reasonable in amount and must bear a reasonable and proximate relation to the production or collection of taxable income or to the management, conservation, or maintenance of property held for the production of income.
410. lappuse - February 28, 1913, or (2) out of the earnings or profits of the taxable year (computed as of the close of the taxable year without diminution by reason of any distributions made during the taxable year), without regard to the amount of the earnings and profits at the time the distribution was made.
78. lappuse - Introduction. A medical research organization is described in section 170(b)(l)(A)(iii) if the principal purpose or functions of such organization are medical research and if it is directly engaged in the continuous active conduct of medical research in conjunction with a hospital. In addition, for purposes of the 50 percent limitation of section 170(b)(l)(A) with respect to a contribution, during the calendar year in which the contribution is made such organization must be committed to spend such...
14. lappuse - Additional 10-percent deduction— (1) In general In addition to the deduction which may be allowed for contributions subject to the general 20-percent limitation, an individual may deduct charitable contributions made during the taxable year to the organizations specified in section 170(b)(l)(A) to the extent that such contributions in the aggregate do not exceed 10 percent of his adjusted gross income (computed without regard to any net operating loss carryback to the taxable year under section...
11. lappuse - Except as otherwise provided in subdivision (iii) of this subparagraph, a contribution consisting of a transfer, after December 31, 1963, in a taxable year ending after such date, of a future interest in tangible personal property shall be treated as made only when— (a) All Intervening interests in, and rights to the actual possession or enjoyment of, the property have expired, or (b) Are held by persons other than the taxpayer or those standing in a relationship to the taxpayer described in section...