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(2) property, used in his trade or business,
of a character which is subject to the allowance
for depreciation provided in section 167, or real
property used in his trade or business;
(3) a copyright, a literary, musical, or
artistic composition, a letter or memorandum, or
similar property, held by-–
(A) a taxpayer whose personal efforts
created such property,
(B) in the case of a letter, memorandum,
or similar property, a taxpayer for whom such
property was prepared or produced, or
(C) a taxpayer in whose hands the basis
of such property is determined, for purposes
of determining gain from a sale or exchange,
in whole or part by reference to the basis of
such property in the hands of a taxpayer
described in subparagraph (A) or (B);
(4) accounts or notes receivable
acquired in the ordinary course of trade or
business for services rendered or from the
sale of property described in paragraph (1);
(5) a publication of the United States
Government (including the Congressional Record)
which is received from the United States
Government or any agency thereof, other than by
purchase at the price at which it is offered for
sale to the public, and which is held by-–
(A) a taxpayer who so received such
publication, or
(B) a taxpayer in whose hands the basis
of such publication is determined, for
purposes of determining gain from a sale or
exchange, in whole or in part by reference to
the basis of such publication in the hands of
a taxpayer described in subparagraph (A). ***
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Last modified: May 25, 2011