Exemption--- Interinsurers, deductions.. Intestacy, property acquired by, gain or loss from sale_- Dealers in securities-- Depreciation, deduction_.. Discounts, treatment in computing cost. Farm price method. Farmers. Change of basis, adjustments for prior years- Live stock raisers. Loss of useful value- Manufacturers _ _ Market basis_ Merchandise business, use of.. Miners__ Necessity for 113 592 102, 411 Investment expenses, insurance companies, life- Insurance companies, other than life or mutual. by, gain or loss from sale. Iowa drainage assessments, deduction....... Irrigation districts, taxability of interest on obligations of Investment company, evasion of surtax, prima facie evi- 101, 106 Distinguished from partnership.. Joint-stock land banks, first mortgages, exemption. Judgments, against collectors, claims for refund. Against United States, claims for refund.. Income from, when reported.. Interest on When deductible... 1312 1313 Leasehold, cost of, deduction.. 130 Premature termination, appreciation, income from_ 63 70 Improvements by lessee.. Leases, depletion. See Depletion. Lessee and lessor, depletion... Depreciation. See Depreciation. Oil and gas properties, depreciation of improvements. 245 Timber properties, depletion and depreciation....... 247, 248 Legacy taxes, by whom deductible.. Lessee, improvements by, deduction_ 130 Levee districts, interest on obligations of 84 Liberty bonds, interest, exemption...--- Interest, exemption, partnerships and trusts_ 89 License, collection of foreign items.- Liens, release of, Revised Statutes amended. 613 Life insurance, premiums, deduction___ Life insurance associations, benevolent, exemption.. Limitation period, abatement claim, effect of. Assessment of tax- Corporation, income reported by shareholders_- Failure to file return.. Fiduciaries, claims against.. Lodges, exemption... Long-term contracts___ 24 281 262 23 151, 153 Deduction of assessments, insurance companies, life- Lodging expenses, deduction Losses, abandonment of property. Assessment paid by shareholder of bank.... Automobile, damage to.--- Basis for determining-- Sale of stock, bonds, or assets by corporation_ Methods of accounting. See Accounting methods. Military and naval forces of United States, compensation_ Extension of time for return when on duty abroad.. Salaries paid to employees in.. Mineral properties, depletion and depreciation, informa- tion in return. Value, determination of__ 210 172 107 55 104 83 141 525 52 123 122 643 55 323 411 Mineral deposit, mineral property, minerals, defined.. Useful life, estimate of Minerals, bodies of, depreciation_ Mines, depletion.......... 23 Depletion, discovery value_-_ 114 { Capital additions and expense items_ . Capital recoverable_ _ _ Computation of deduction__ Mineral content, determination. 202 221-242 611 242 Revaluation of mineral deposits. Depreciation, capital additions and expense charges.. Capital recoverable_ Lessors and lessees.. Improvements - Expense items, depletion and depreciation in relation Income from sources within United States_ 681 107 244 226 Mines and oil or gas wells, surtax, sale where discovery Ministers, foreign governments, exemption of income.. 641 Minors, allowance to, deduction.... clusion from income_ Earnings, inclusion in return of parent- 22, 116 281 383 383 Returns. 383, 742 Models, depreciation allowance__ 208 Mortgages, uncollectible, deficiency bad debts. 193 708 Mutual insurance companies. See Insurance companies. Trusts, computation - - 162 Net income of the taxpayer (computed without allow- Net losses _ _ Capital net gain or loss, effect of 862 221 Claim for, how to be made____ Computation. Deduction of.... Deductions allowable in computing- Defined Estates.. 651, 653 652 |