[ Ispričavamo se, sadržaj ove stranice je ograničen ]

...under section 202. shall be recognized, except as hereinafter provided in this section. "(b) (1) No gain or loss shall be recognized if property held...held primarily for sale, nor stocks, bonds, notes, chosc-s in action, certificates of trust or beneficisl interest, or other securities or evidences of...

...property held primarily for sale, and in the case of property held for investment not including stock. bonds, notes, choses in action, certificates of trust...evidences of indebtedness or interest) , is exchanged for property of a like kind or use." Under the provisions of the revenue act of 1921, no taxable gain...

[ Ispričavamo se, sadržaj ove stranice je ograničen ]

[ Ispričavamo se, sadržaj ove stranice je ograničen ]

[ Ispričavamo se, sadržaj ove stranice je ograničen ]

[ Ispričavamo se, sadržaj ove stranice je ograničen ]

...with the recommendations of the Treasury. The revised section provides in effect that exchanges of stocks, bonds, notes, choses in action, certificates...securities or evidences of indebtedness or interest shall constitute closed transactions, resulting immediately in taxable gain or deductible loss, except...

...1923, to read as follows: "(1) When any such property held for productive use in trade or business (not including stock in trade or other property held primarily for sale) is exchanged for property of a like use." SEC. 201. Subdivision (e) of section 202 of the revenue act...

...under section 202, shall be recognized, except' as hereinafter provided in this section. (b) (1) No gain or loss shall be recognized if property held...is exchanged solely for property of a like kind to he held either for productive use in trade or business or for investment, or if common stock in a corporation...