Tax Aspects of Real Estate Transactions |
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Page 58
... supra . 6 / See authorities cited , notes 2 and 3 , supra . 7 / Note 1 , supra . 8 / I. R. C. sections 301 ( c ) , 316. See also , section 312 ( j ) which increases earnings and profits of a corporation owning property subject to a ...
... supra . 6 / See authorities cited , notes 2 and 3 , supra . 7 / Note 1 , supra . 8 / I. R. C. sections 301 ( c ) , 316. See also , section 312 ( j ) which increases earnings and profits of a corporation owning property subject to a ...
Page 59
... supra . See also , authorities cited , note 4 , supra . Foreclosure constitutes a " sale " even though the taxpayer is not personally liable for the debt : Commissioner v . Abramson , 124 F. ( 2d ) 416 ( C. A. 2 , 1942 ) ; Welch v ...
... supra . See also , authorities cited , note 4 , supra . Foreclosure constitutes a " sale " even though the taxpayer is not personally liable for the debt : Commissioner v . Abramson , 124 F. ( 2d ) 416 ( C. A. 2 , 1942 ) ; Welch v ...
Page 117
... supra , note 7. But see Standard Envelope Mfg . Co .. 15 T.C. 41 ( 1950 ) ; May Dept. Stores Co. , 16 T.C. 547 ... supra , note 7 : loss disallowed ( 95 year lease ) ; Standard Envelope Mfg . Co. , supra , note 9 : loss allowed ( 25 year ...
... supra , note 7. But see Standard Envelope Mfg . Co .. 15 T.C. 41 ( 1950 ) ; May Dept. Stores Co. , 16 T.C. 547 ... supra , note 7 : loss disallowed ( 95 year lease ) ; Standard Envelope Mfg . Co. , supra , note 9 : loss allowed ( 25 year ...
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acquired acquisition adjusted basis allocated allowed amount apartment house bad debt building buys capital asset capital gains tax capital loss cash cert Chapter collapsible corporation Commissioner construction cost dealer December 31 deductible deemed depreciation distribution dividend earnings and profits Example exceeds expenses extent fair market value foreclosure funds gain is recognized gain or loss gift tax Helvering I. R. C. section I. T. Regs improvements income tax installment sale interest investment involuntary conversion land lease lessee lessor liability loan method mortgage mortgaged property mortgagor offset option ordinary income ordinary loss owner paid partnership payment personal holding company personally liable piece of property property held purchase price real estate tax real property realized reduced reinvested rent rental residence result section 341 seller selling price shareholders sold stockholders supra surtax tax purposes tax-free exchange taxable taxpayer tenant tion trade or business transaction transfer treated