CORPORATIONS-Cont.

Credits against net income-Cont.

Dividends paid on certain preferred stock, § 26 (h).
Dividends received, § 26 (b).

Income subject to excess-profits tax, § 26 (e).
Interest on obligations of instrumentalities of

United States, § 26 (a).

Interest on obligations of United States, § 26 (a).
Net operating loss of preceding year, § 26 (c).
Credits for foreign taxes, § 131 (a) (1).

Credits for taxes of possessions of United States, § 131

(a) (1).

Definition, § 3797 (a) (3).

Dividends paid credit, § 27.

Excess profits taxes, § 710.

Exempt from income tax, see "Exempt Corporations."
Foreign, § 231.

Affiliation, § 238.

Allowance of deductions and credits, § 233.

Credits against income tax, § 234.

Deductions from gross income, § 232.

Charitable, etc., contributions, § 232 (b).
In general, § 232 (a).
Gross income, § 231 (c).
Invested capital, § 724.

Nonresident corporations, § 231 (a).

Imposition of tax, § 231 (a) (1).
Payment of income tax, § 236.

Time of payment, § 236 (a).

Rates of tax, § 14 (c).

Resident corporations, § 231 (b).

CORPUS

Distributions by estates and trusts, § 162 (d) (1).

COST

Basis for loss or gain, § 111.

Definition, 700 (f) (2).

Unjust enrichment tax, § 700 (f) (2).

COST OF LIVING ALLOWANCES

Certain officers and employees of United States, § 116
(j).

COURT REVIEW OF TAX COURT'S DECISIONS
See "Tax Court of the United States.''
Bond to stay assessment and collection, § 1145.
Change of Commissioner, § 1143.
Courts of review, § 1141.

Jurisdiction, § 1141 (a).
Powers, 1141 (c).

To affirm, modify, or reverse, § 1141 (c) (1).
To impose damages, § 1141 (c) (4).

To make rules, § 1141 (c) (2).

To require additional security, § 1141 (c) (3).
Venue, § 1141 (b).

Agreement of parties, § 1141 (b) (2).
Application of subsection, § 1141 (b) (3).
In general, §§ 1141 (b) (1), 1141 (b) (2).

Date when decision becomes final, § 1140.

Circuit Court of Appeals defined, § 1140 (e) (1).
Decision affirmed or petition for review dismissed,

§ 1140 (b).

After mandate of Supreme Court, § 1140 (b) (3).
Petition for certiorari denied, § 1140 (b) (2).
Petition for certiorari not filed on time, § 1140
(b) (1).

Decision modified or reversed, § 1140 (c).

Upon mandate of Circuit Court of Appeals, § 1140
(c) (2).

Upon mandate of Supreme Court, § 1140 (c) (1).
Mandate defined, § 1140 (e) (2).

Petition for review not filed on time, § 1140 (a).
Rehearing, § 1140 (d).

CREDITS AGAINST ESTATE TAX-Cont.
Inheritance taxes paid to state, territory or District
of Columbia, § 813 (b).

Legacy taxes paid to state, territory or District of
Columbia, § 813 (b).

Refund based on credit, § 813 (b) (2).

Succession taxes paid to state, territory or District
of Columbia, § 813 (b).

Where reversionary or remainder interest involved,
§ 927.

CREDITS AGAINST INCOME TAX

Benefit of, where tax withheld at source, § 143 (a).
China Trade Act Corporations, § 263.

Estates and trusts, § 168.

Taxes of foreign countries and possessions of
United States, § 168.

Foreign corporations, § 234.

Insurance companies other than life or mutual, § 205.
Nonresident aliens, §§ 215, 216.

Taxes of foreign countries and possessions of United
States, §§ 31, 131.

Adjustment on payment of accrued taxes, § 131 (e).
Allowance of credit, § 131 (a).

Alien residents of United States, § 131 (a) (3).
Citizens and domestic corporations, § 131 (a) (1).
Estates, § 131 (a) (4).

Partnerships, § 131 (a) (4).

Residents of United States, § 131 (a) (2).

Corporations treated as foreign, § 131 (g).

Credit for taxes in lieu of income, etc., taxes, § 131

(h).

Limitation on credit, § 131 (b).

Proof of credits, § 131 (e).

Tax withheld at source, § 131 (i).

Taxes of foreign subsidiary, § 131 (f).

Foreign subsidiary of domestic corporation, § 131
(f) (1).

Foreign subsidiary of foreign corporation, § 131
(f) (2).

Year in which credit taken, § 131 (d).

Under Sec. 400, § 403.

When income from possessions of United States, § 251
(h).

Withheld at source, §§ 32, 143 (f).

On wages, § 35.

CREDITS AGAINST NET INCOME

Beneficiaries, § 163 (b).

China Trade Act Corporation, § 262.
Corporations

Bank affiliates, § 26 (d).

Consent dividend credit, § 28.

Dividends paid on certain preferred stock, § 26 (h).
Dividends received, § 26 (b).

Income subject to excess-profits tax, § 26 (e).
Interest on obligations of instrumentalities of

United States, § 26 (a).

Interest on obligations of United States, § 26 (a).
Net operating loss of preceding year, § 26 (c).
Decedent's, § 126 (b).

Estates or trusts, § 163 (a).

In case of bond premium, § 163 (e).
Individuals

Dependents, § 25 (b) (2).

Earned income credit, § 25 (a) (3).

DEBT RETIREMENT

Credit against excess profits tax, § 783. DEBTS OR INDEBTEDNESS

See "Bad Debts."'

Assumption of, § 112 (k).

Discharge of, §§ 22 (b) (9), 113 (b) (3). Retirement of, § 783.

DECEDENTS

Abatement of tax of armed forces, § 421.
Deductions accrued at death, § 43.
Estate tax. See "Estate Tax."
Gross income accrued at death, § 42.
Income in respect of, § 126.

Allowance of deductions and credits, § 126 (b).
Depletion, § 126 (b) (2).
Expenses, § 126 (b) (1).

Interest, § 126 (b) (1).

Taxes, § 126 (b) (1).

ENRICHMENT

Deduction for estate tax, § 126 (c).

CREDITS FOR BOTH NORMAL AND SURTAX

Credits, § 25 (b) (1).

CREDITS FOR SURTAX ONLY

Credits, § 25 (b) (1).

Definition of dependent, § 25 (b) (3).
Determination of status, § 25 (b) (2).

CREDITS OF ESTATE TAXES

See "Refunds and Credits of Estate Taxes.''

CREDITS OF GIFT TAXES

See Refunds and Credits of Gift Taxes."

CREDITS OF INCOME TAXES

See "Refunds and Credits of Income Taxes."

CURED

Definition, § 119 (f).

CURRENT TAX PAYMENT ACT OF 1943

Relief from double payments in 1943, fn. 9, p. 176, Ninth Edition.

CURTESY

Gross estate, § 811 (b).

D

DAILY INVESTED CAPITAL

Definition, § 717.

DATE OF CESSATION OF HOSTILITIES IN THE PRESENT WAR

Definition, §§ 175 (b), 780 (e).

DATE OF THE TERMINATION OF THE FED

ERAL EXCISE TAX

Defined, 700 (j) (2).

DEALERS IN PERSONAL PROPERTY Installment basis, § 44 (a).

DEATH

Contemplation of, §§ 811 (c), (d), (f), 862 (b).

Gain or loss on property transferred at, § 113 (a) (5). Transfers at, estate tax, § 811.

DEDUCTIONS FROM GROSS ESTATE

Citizens or residents of United States, § 810.
Administration expenses, § 812 (b) (2).
Charitable purposes, § 812 (d).
Claims against estate, § 812 (b) (3).
Educational purposes, § 812 (d).
Exemption, § 812 (a).

Funeral expenses, § 812 (b) (1).

Governmental purposes, § 812 (d).

In money or money's worth defined, § 812 (b) (5).
Indebtedness in respect of property, § 812 (b) (4).
Literary purposes, § 812 (d).

Marital deduction, § 812 (e).
Property previously taxed, § 812 (c).

Amount otherwise deductible under this subsec-
tion defined, § 812 (c) (2).

General claims, § 812 (c) (2).

Property subject to general claims, § 812 (c) (2).
Property subject to claims defined, § 812 (b) (5).
Religious purposes, § 812 (d).

Scientific purposes, § 812 (d).

Support of dependents, § 812 (b) (5).

Unpaid mortgages, § 812 (b) (4).

Nonresident aliens, § 860.

Charitable purposes, § 861 (a) (3).

Condition of allowance of deductions, § 861 (b).
Educational purposes, § 861 (a) (3).
Exemption, § 861 (a) (4).

Expenses, § 861 (a) (1).

Governmental purposes, § 861 (a) (3).
Indebtedness, § 861 (a) (1).

Literary purposes, § 861 (a) (3).
Losses, § 861 (a) (1).

Property previously taxed, § 861 (a) (2).

Public purposes, § 861 (a) (3).
Religious purposes, § 861 (a) (3).
Scientific purposes, § 861 (a) (3).
Taxes, 861 (a) (1).

DEDUCTIONS FROM GROSS INCOME-Cont.

Amortization-Cont.

Payment by United States of unamortized cost of
facility, § 124 (h).

Remaindermen, § 124 (i).

Termination of amortization deduction, § 124 (c).

Termination of amortization period, § 124 (d).
Attributable to rents and royalties, § 22 (n) (4).
Bad debts, § 23 (k).

Blind individuals, § 23 (y).

Business expenses, § 23 (a) (1).

Capital losses, § 23 (g).

Charitable, etc., contributions, § 23 (o).

By corporations, §§ 23 (a) (1), 23 (q) (2).
Compensation under deferred payment plan, § 23 (p).
Contributions by corporations, §§ 23 (a) (1), 23 (q).
Contributions to employees' annuity plan, § 23 (p).
Contributions to employees' trust, § 23 (p).

Cost of living allowances, § 116 (j).

Decedents, §§ 23 (w), 126 (b), (c).
Dental expenses, § 23 (x).

Depletion, § 23 (m).

Depreciation, § 23 (1).

Dividends paid on certain preferred stock, § 121.
Educational contributions, § 23 (o).

Estates and trusts, § 162.

Excess deductions in case of estate and trusts, § 162
(d) (4).

Excess of $50,000 for five consecutive years, § 130.
Excess profits tax under Chapter 2 E, § 23 (c) (2).
Excise taxes, § 23 (c) (1) (F).

Expenses, § 23 (a).

Foreign corporations, § 232.

Charitable, etc., contributions, § 232 (b).
In general, § 232 (a).

Foreign personal holding companies, § 336.
Contributions or gifts, § 336 (a) (2).
Deductions not allowed, § 336 (b).

Expenses and depreciation, § 336 (b) (2).

Net loss carry-over, § 336 (b) (3).

1941 capital loss carry-over, § 336 (c).

Taxes and pension trusts, § 336 (b) (1).

Federal income, war and excess profits taxes, § 336

DEDUCTIONS FROM GROSS INCOME-Cont.

Life insurance companies, § 201 (c) (7).
Depreciation, § 201 (c) (7) (D).
Interest paid, § 201 (c) (6).

Investment expenses, § 201 (c) (7) (B).
Tax free interest, § 201 (c) (7) (A).

Life tenants, § 22 (n) (5).

Literary contributions, § 23 (0).

Losses by corporations, § 23 (f).

Losses by individuals, § 23 (e).

Losses from sales or exchanges of property, § 22 (n)

(6).

Medical expenses, § 23 (x).

Mutual insurance companies other than life or mu-
tual, § 207 (b) (4).

Capital losses, § 207 (b) (4) (F).
Depreciation, § 207 (b) (4) (D).
Double, § 207 (f).

Foreign corporations, § 207 (e).
Interest, § 207 (b) (4) (E).

Investment expenses, § 207 (b) (4) (B).
Real estate expenses, § 207 (b) (4) (C).
Rental value of real estate, § 207 (c).
Tax-free interest, § 207 (b) (4) (A).

Net operating losses, § 122.

Non-business debts, § 23 (k) (4).
Non-business expenses, § 23 (a) (2).
Nonresident aliens, §§ 213, 215.

Non-trade expenses, § 23 (a) (2).

Ordinary and necessary expenses, § 23 (a) (1).

Optional standard, for individuals, § 23 (aa).
Period for which taken, § 43.

Personal holding companies, § 505.

Possessions of United States, § 251 (e).

Reimbursed expenses in connection with employment,

§ 22 (n) (3).

Religious contributions, § 23 (0).

Retail sales tax, § 23 (c) (3).

Scientific contributions, § 23 (o).

Securities becoming worthless, § 23 (k) (2).

Capital losses on, § 23 (g) (2).

Securities of affiliated corporations, § 23 (k) (5).
Stamp taxes, § 23 (c) (1) (F).

Stock of affiliated corporations, § 23 (g) (4).
Taxes generally, § 23 (c).

Taxes of shareholder paid by corporation, § 23 (d).
Taxes to co-operative apartment corporation, § 23 (z).
Trade or business expenses, §§ 23 (a) (1), 22 (n) (1).
Traveling and lodging, § 22 (n) (1).

Under prior income tax acts, § 23 (p) (2).
Unjust enrichment tax, § 700 (c) (1).

Unlimited deduction for charitable, etc., contributions,
§ 120.

Wagering losses, § 23 (h).

War losses, § 127.

DEFICIENCY DIVIDENDS

Surtax on personal holding companies

Credit against unpaid deficiency, § 506 (a).

Credit or refund of deficiency paid, § 506 (b).

Claim required, § 506 (d).

Denied in case of

Fraud, § 506 (f).

No return filed, § 506 (f).

Deficiency dividends-paid credit or refund
Claim required, § 506 (d).

No return filed, § 506 (f).

Effect of deficiency dividends paid, § 506 (c) (2).
DEFICIENCY NOTICE

Estate taxes, § 871 (a) (1).

Jeopardy assessment, § 872 (b).

Gift taxes, §§ 1012 (a) (1), 1013 (b).
Jeopardy assessment, § 1012 (j).
Income taxes, § 272 (a) (1), (f).

Jeopardy assessment, § 273 (b).

DEFICIENCY OF ESTATE TAXES
Claims in abatement, § 873.
Definition, § 870.

Interest. See "Interest.''
Jeopardy assessments, § 872.

Amount assessable after decision of Board, § 872
(d).

Amount assessable before decision of Board, § 872

(c).

Authority to make, § 872 (a).

Bond to stay collection, § 872 (f).

Collection of unpaid amounts, § 872 (i).
Deficiency letters, § 872 (b).

Expiration of right to assess, § 872 (e).

Waiver of stay, § 872 (h).

Penalty. See "Penalties."
Procedure in general, § 871.

Collection of deficiency found by Board, § 871 (b).
Extension of time for payment, § 871 (h).
Failure to file petition, § 871 (c).

50% addition treated as deficiency, § 871 (i).
Final decision of Board, § 871 (g).

Further deficiency letters restricted, § 871 (f).

Increase of deficiency after notice mailed, § 871 (e).

Petition to Board, § 871 (a) (1).

Waiver of restrictions, § 871 (d).

Statute of Limitations. See "Statute of Limita-