Involuntary conversion of property, property acquired
by, gain or loss from sale.

Replacement fund..

Iowa drainage assessments, deduction___

Irrigation districts, taxability of interest on obligations

of..

Joint-stock companies, classification_.

Joint venture, classification__.

Joint-stock land banks, first mortgages, exemption_.

Judges, United States, salaries, gross income.

Judgments, against collectors, claims for refund.
Against United States, claims for refund...
Income from, when reported_

When deductible_

Premature termination, appreciation, income from
Rentals paid to lessor corporation's shareholders--

Leases, depletion. See also Depletion.

L

Labor organizations, exemption_.

Land, depreciation...

23(1)-2

Land banks, Federal, dividends and interest from

22(b)(4)-2

Laws, application to fiduciaries_.

Application to Title I..

61

Leasehold, cost of, deduction__

Depreciation. See also Depreciation.
Improvements by lessee_-

Lessee and lessor, depletion----

Oil and gas properties, depreciation of improve-
ments___

Timber properties, depletion and depreciation__.

Legacy taxes, deduction___

Lessee, improvements by, deduction__.

Levee districts, interest on obligations of

Liberty bonds, interest, exemption_..

Interest, exemption, partnerships and trusts_

Priority of debts due United States--
Life insurance. See Insurance.

Life insurance associations, benevolent, exemption....
Life insurance companies. See Insurance companies.
Life or terminable interests, depletion and deprecia-
tion-----

Life tenant, depletion, depreciation, and obsolescence-
Light districts, interest on obligations of, exemption__|

150

par. 39
pars. 40,41

23(a)-10
22(b)(4)−1

(22(b)(4)-4 to
22(b)(4)-6
22(b)(4)-5
150-1

23(1)-3

p. 397
p. 398

Liquidation dividend. See Dividends; Distributions.

life...

Literary organizations, exemption... - -

Live stock, cost and maintenance, how treated.

Depreciation allowances__

Inventories__

Losses, deduction___

Profit from sale, gross income_

Living expenses, deduction_.

Lobbying expenses, deduction__

Local benefits, deduction of assessments__

Deduction of assessments, insurance companies,

Automobile, damage to---

42-4

23(e)-3

24-2

23(e)-1
23(h)-1,
113(a)-1 to
113(a)(14)-1

23(h)-1

23

23

Military and naval forces of United States, compensa-
tion...

Extension of time for return when on duty abroad.

Mine,' "mineral deposit," "mineral property,"
"minerals," defined...

Mineral properties, determination of cost__

Depletion and depreciation, information in return_

Useful life, estimate of _

Value, determination of.

Minerals, bodies of, depreciation _ _

Mines, depletion_ - - -

Depletion, based on income....

114

23(m)-17
23(m)-5,

114-1

Models, depreciation allowance..

Obsolescence, improvements.

Value, determination of..

Mining business, gross income from__

Ministers, foreign governments, exemption of income

Ministers of the gospel, rental value of dwelling, exclu-

sion from income_

Minors, allowance to, deduction_.

Earnings, inclusion in return of parent_
Returns__

Mortgages, uncollectible deficiency, bad debts..

Municipality, income of, exemption...

22, 116

Mutual insurance companies.

See Insurance com-

panies.

Mutual savings banks, exemption__

101

101(2)-1

N

K

23(m)-17

119-11
22(c)-7
23(m)-17
23(m)-7
22(a)-5,

351-2

116-1

National farm loan associations, dividends and inter-

est, taxability---

National Guard, State, compensation of officers--

22(b)(4)−2
116-2

allowance for depletion) from the property," defined.

Nonresident alien beneficiary, returns for....

23(m)-1
142-5

Nonresident aliens, Canada and Mexico, credits, how
procured

Contributions__