Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924 - United States. Internal Revenue Service - Google grāmatas

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Section 213(b). Gross income defined: exclusions_.

Article 71. Exclusions from gross income-----

72. Proceeds of insurance Compensation-Pensions_-_-

73. Gifts and bequests----

74. Interest upon State obligations----

75. Dividends and interest from Federal land banks, Federal

intermediate credit banks, and national farm loan asso-

76. Dividends from Federal reserve bank.

77. Interest upon United States obligations___

78. Liberty bond exemptions, as amended and supplemented

by the Revenue Act of 1924___

79. Liberty bond exemption under Second, Third, and Fourth

Liberty Bond Acts____.

80. Exemption of Treasury (war) savings certificates___

81. Liberty bond exemption under Supplement to Second

Liberty Bond Act, as amended and supplemented by the

Revenue Act of 1924___

82. Summary of tax exemptions of Liberty bonds, Treasury

bonds, Treasury notes, Treasury certificates of indebt-

edness, and Treasury (war) savings certificates___

83. Liberty bond exemption in the case of trusts or partner-

84. Liberty bond exemption in the case of nonresident aliens

85. Return for fiscal year ending in 1924_--

86. Income of foreign governments, ambassadors, and consuls

87. Income of States-‒‒‒‒

88. Compensation of State officers and employees.

89. Additional exclusions from gross income-.

90. Income accrued prior to March 1, 1913-

91. Subtraction for redemption of trading stamps.

Section 213(c). Gross income defined: nonresident alien individual__

Article 92. Gross income of nonresident alien individuals__

93. When the wages of a nonresident alien seaman are de-

rived from sources within the United States_____

Section 214(a) (1). Deductions allowed individuals: business ex-

Article 101. Business expenses.

102. Traveling expenses_

103. Cost of materials.

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Section 214(a) (2). Deductions allowed individuals: interest_

Article 121. Interest

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Section 214(a) (3). Deductions allowed individuals: taxes.

Article 131. Taxes

132. Federal duties and excise taxes..

134. Federal estate and State inheritance taxes.

144. Shrinkage in value of stocks_.

133. Taxes for local benefits.

135. Tax on stock___.

Section 214(a) (4), (5), and (6). Deductions allowed individuals:

Article 141. Losses

142. Voluntary removal of buildings_

143. Loss of useful value_____

145. Losses of farmers___.

146. Losses from the sale and repurchase of securities--

Section 214(a) (7). Deductions allowed individuals: bad debts_.

Article 151. Bad debts___.

152. Examples of bad debts___.

153. Uncollectible deficiency upon sale of mortgaged or

pledged property.

154. Worthless securities...

155. Reserve for bad debts_

Section 214(a) (8). Deductions allowed individuals: depreciation_

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169. Charging off depreciation_

170. Closing depreciation account..

171. Depreciation in the case of farmers_.

Section 214(a) (9). Deductions allowed individuals: depletion____

Article 201. Depletion of mines, oil and gas wells; depreciation of im-

202. Amount returnable through depletion and depreciation

deductions in the case of an operating owner_-

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203. Amount returnable through depletion and depreciation

deductions in the case of lessee___

204. Amount returnable through depletion and depreciation

in case of lessor_

205. Determination of cost of deposits---

206. Determination of fair market value of mineral property

other than oil and gas--

207. Determination of fair market value of oil and gas prop-

208. Revaluation of mineral deposits not allowed__.

209. Determination of mineral contents of mine‒‒‒‒.

210. Determination of quantity of oil in ground_----

211. Computation of deduction for depletion of mineral de-

Section 214(a) (9)—Continued.

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Article 212. Computation of deduction for depletion of gas wells---

213. Gas well pressure records to be kept__

214. Computation of allowance where quantity of oil or gas

uncertain__‒‒‒

215. Computation of depletion allowance for combined hold-

ings of oil and gas wells___.

216. Depletion-Adjustments of accounts based on bonus or

advanced royalty -----

217. Depletion and depreciation accounts on books---

218. Statement to be attached to return when depletion or de-

preciation of mineral property is claimed___

219. Additional statement to be attached to return where

depletion of oil or gas is claimed___

220. Discovery of mines__

221. Oil and gas wells_-_-

222. Discovery-Proven tract or lease-Value disproportion-

ate to cost______

223. Proof of discovery of oil and gas wells__

224. Allowable capital additions in case of mines_.

225. Charges to capital and to expense in the case of oil and

227. Depreciation of improvements in the case of oil and

228. Depletion and depreciation of oil and gas wells in years

before 1916_----

229. Depletion of timber_

230. Capital recoverable through depletion allowance in the

case of timber_______

231. Computation of allowance for depletion of timber for

232. Revaluation of timber not allowed_.

233. Charges to capital and to expenses in the case of timber-

234. Depreciation of improvements in the case of timber_____

235. Information to be furnished by taxpayer claiming deple-

tion of timber_.

238. Aggregating timber and land for purposes of valuation

and accounting_-.

239. Timber depletion and depreciation accounts on books__

Section 214(a) (10). Deductions allowed individuals: contributions

Article 251. Contributions or gifts.

Section 214 (b). Deductions allowed: nonresident alien individual__

Article 271. Deductions allowed nonresident alien individuals.

Section 215. Items not deductible_

Article 291. Personal and family expenses.

292. Capital expenditures__

293. Premiums on business insurance_

294. Life or terminable interests___

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