INDEX. cmu Income Tax, Title II, Reverzue Act o P¤8¤· Ing me Taz ‘ ire.;-comma. I ° mzZ'3Z’mi£as€?””“° "°‘ °’ P““°‘ Ewtl years returns; application to gross income excluded; China. Trade pnrtnershipsm .. - -T ... 262 Act corporation dividends to credit or refund of tux paid under Ching residents _______________ 269 Act_ of 1921 .. .: .,. 262 nonresident aliens from United States cgpliel gains and losses described ____ 262 sources only __________________ 269 meaningcagftategngssg "cspital gain," 262 deductions in computing net income;
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‘idednctnon," "ordinnry dcductions" 262 traveling, etcF€?§??,.--lli(?l1i1llj§ 269 ‘ capital', net guins," "cnpital net — interest on debts ,_.,__,,_.,_ _ _____ 270 H loss . ---t .. _ ; .. - . 262 taxeswlasses and exceptions specified- 270 uordinnry net income - . _-_ 263 business losses _...,_,. 270 capital assets, property not in- losses not connected with the busieluded-: . 263 ness; nonresident aliens 270 tax levied in lieu of normal and surtax sales of stock, etc., if similar propertv on other than corporation .. 263 acquired, excepted, etc . --1 270 based on capital net gain; net loss-, 263 casualty losses not connected with application to partnerships or trusts; business and not compensated ¤PP¤Y¤*€ f€t¤1”¤¤ ... -- - 263 by insurance, etc ______ 270 eameii m00¤1€ Pl’0Vi¤i§>¤S . 263 basis for determining deduetion___ 270 meaning of {earned income" as com- worthless debts; if recoverable in p¢¤¤¤tion for personal services part .__.,__.________________ _ 270 rendered . 263 allowance for exhaustion, etc., of •¥X¤€Pil0¤S ... -- 263 business property ,___, 270 reasonable nllowsnce, if combined depletion, etc., of mines, oil and gas “ W“·h_¢8D|t8»l .. : ... 263 _ wells, timber, etc _,__,,_._____ 270 nearned mcorne deductrons" ... 264 gifts to public and charitable organiurued net mcome;" minimum and zations, etc.; educational reha- _ !¤881mum 264 bilitation fund; War veterans, credit ulluwed in computing individual etc.; limit ..,____, 271 nvrmal or surtsx .. 264 by nonresident aliens limited . 271 !¤¤¤b€¥S of partnerships ... 264 deductions of nonresident aliens only normal taxon net income of individuals 264 as to United States sources of inllP¤¤ first $4,000, of citizens or resi- come 271 dellts; next $4,000 264 citizens from sources in United ucuresident alien for personal serv- States possessions . 271 mes, not exceeding $4,000 .. 264 no deductions allowed in computing net additional if exceedbgg family ex- income for personal, etc., exemption and $4, ; exceeding penses ... 271 $4,000 ________. - .._._ 264 new buildings, permanent improve- ¤l1!’li8X in addition to normal tax; rates- 265 ments, etc- -, _... 271 maximum from sale of mines, oil or restoring exhaustion, etc., of property 271 _ gas wells, etc _ 267 payments for life insurance on em- H9? income denned; basis for computin 267 ployees, etc., for benefit of taxlf taxpayer changes accounting period 267 payer . - .. 272 gross income def;ined;sources included- 267 income from life interest, etc., ac- Salaries of the President, Judicial and quired by gift - ... 272 Government officers and em- credits allowed for normal tax; tax ployees ______________________ 267 paid dividends from domestic professions, ti-ade, businesses, rents, corporations, etc -_._.-...----. 272 dividends, etc _,_-_-.--- - ,--__ 267 foreign corporations from United received in taxable year --.--..-.. 267 States sources ...-.- 1 -...----- 272 excluded; income from life insurance interest on Federal securit1es._ ---- _ -- 272 policies, returns of premiums personal exemption of $1,000 if a smpaid _____ _ _______ _ ___________ 267 gle person ____________________ 272 gifts, beqiiegtg, sic ________ _ _____ 268 $2,500 if head of family; $2,000 if interest on State, etc., obligations; income of husband or wife ex- Federal bonds, etc.; limitation-- 268 ceeds $5,000 .. _ 272 income of foreign governments additional $400 each for minors from investments in United and dependents ... 272 States securities, etc .., 268 for nonresident aliens, ew, $1,000- 222 payment for personal injuries, etc- 268 status of taxpayer ... 2; public utility receipts by States, allowed on change of taxable years 2; etc., oprwnted under contracts; in case of death, etc_ . 243 restrictions ... - ... 268 income of nonresident aliens, etc .. 273 nonresident aliens, from foreign items_of gross incomes deemed from ships; conditions .._... 269 Lnited States S0¤1'¢€=i§ l¤t€l`€$@ War Risk and rehabilitation allow- on bonds, etc., of resident coranees; pensions _________,,____ 269 Rorntions, etc.; exceptions ______ 273 from domestic building and loan dividends from domestic corporanssocintions; limit __.,...__ 269 tions, veto.; from corporatmns rentals for dwellings furnished to from United States sources - 273 ministers _______ __ _____________ 269 persona.! services in United States- 273 shipowners mutual associations; rentals, royalties, etc., from proplimit ____________ _ ___________ 269 erty in United States .. 273 45822°—25i--95
