 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1958 - 910 pages
...the basis provisions of section 113 (a) (2) and not section 113 (a) (5). Section 113 (a) (2) states: If the property was acquired by gift after December...preceding owner by whom it was not acquired by gift, * * *. Defendant says that section 113 (a) (2) applies even where the value of the gift was included... | |
 | Philippines - Law - 1981 - 138 pages
...was acquired by inheritance. If the property was acquired by gift the basis shall be the same as it would be in the hands of the donor, or the last preceding owner by whom it was not acquired by gift, except that if such basis is greater than the fair market value of the property at the time of the... | |
 | United States - 1921 - 888 pages
...December 31, 1920, the basis for computing gain or loss shall be the same as the property would have in the hands of the donor or the last preceding owner...acquired by gift. If the facts necessary to determine the cost or other basis are unknown to the donee, the commissioner is empowered to obtain the necessary... | |
 | United States U.S. Congress. Senate. Committee on finance - 1921 - 802 pages
...intention is clearly expressed to treat a donee of property acquired by gift on "the same basis" as "the donor or the last preceding owner by whom it was not acquired by gift." In the absence of these words, and assuming that the other portions of HR 14198 were enacted into law,... | |
 | United States. Congress. House. Committee on Ways and Means - Internal revenue - 1921 - 292 pages
...intention is clearly expressed to treat a donee of property acquired by gift on " the same basis " as " the donor or the last preceding owner by whom it was not acquired by gift." In the absence of these words, and assuming that the other portions of HR 14198 were enacted into law,... | |
 | National City Company - Income tax - 1921 - 104 pages
...included in the inventory, the last inventory value is the basis for determining gain or loss. (2) In case the property was acquired by gift after December 31, 1920, the basis shall be what should have been the basis in the hands of the donor, if such donor did not acquire the property... | |
 | United States - Law - 1921 - 642 pages
...inventory, the basis shall be the last inventory value thereof; (2) In" the case of such property, acquired by gift after December 31, 1920, the basis shall be the same as that which it would have in in'nano!s of donor. the hands of the donor or the last preceding owner... | |
 | United States. Congress. Senate. Committee on Finance - Internal revenue - 1921 - 836 pages
...word " acquired, " on page 1, line 5, will be found the words ''by the vendor (or in case of gift, by the last preceding owner by whom it was not acquired by gift)." This language is inserted for the purpose of carrying out the thought expressed in lines'5 to 8 on... | |
 | John Harold Sears - Taxation - 1922 - 732 pages
...to such property acquired by gift after December 31, 1920, the basis is the same that it would have in the hands of the donor, or the last preceding owner by whom it was not acquired by gift. 3. As to such property acquired by gift on or before December 31, 1920, the basis is the fair market... | |
 | Emerson Emanuel Rossmoore - Income tax - 1922 - 592 pages
...equal to the difference, or $47 per share. REFERENCE: Sec. 202 (a) (2): "In the case of such property, acquired by gift after December 31, 1920, the basis shall be the same as that which it would have in the hands of the donor or the last preceding owner by whom it was not acquired... | |
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If the property was acquired by gift after December 31, 1920, the basis shall be the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift... 
