...and the regulations thereunder. (d) Section 1221(4) excludes from the definition of "capital asset" accounts or notes receivable acquired in the ordinary course of trade or business for services rendered or from the sale of stock in trade or inventory or property held for...

...Copyrights, literary, artistic compositions, and similar property held by the creator of the property ; 4. Accounts or notes receivable acquired in the ordinary course of trade or business or from the sale of services or inventory ; or 5. A governmental obligation issued on a discount...

...17. Section 1221, paragraph 4, is a new provision which excepts from the definition of capital assets accounts or notes receivable acquired in the ordinary course of trade or business for services rendered, or from the sale of property (inventory) held by taxpayer primarily...

...trade or business but which has been held for a period of six months or less (section 1221(2)), and (2) Accounts or notes receivable acquired in the ordinary course of trade or business for services rendered or from the sale of inventory (section 1221(4)). This would include...

...provided that the following properties shall be excluded from the definition of inventory items: (i) accounts or notes receivable acquired in the ordinary course of trade or business for services rendered or from the sale of property Market Adjusted Basis Value Over Adjusted...

...trade or business but which has been held for a period of six months or less (section 1221(2)), and (2) Accounts or notes receivable acquired in the ordinary course of trade or business for services rendered or from the sale of inventory (section 1221(4)). This would include...

...Stock in trade or property of a kind includable in inventory; (6) property held primarily for sale to customers in the ordinary course of the taxpayer's...specifically excluded from the capital asset category, net gains realized on their sale or exchange are taxable at the alternative differential rate. Net losses,...

...1954 unless otherwise indicated.) uBut, cf. sec. 1221(4) excluding from the capital asset definition accounts or notes receivable acquired in the ordinary course of trade or business. "See McAllister v. Commfnnfoner (157 F. 2d 2;>3 (2d clr.. 1946)) treating a life estate;...

...1954 unless otherwise indicated.) 15 But, cf. sec. 1221(4) excluding from the capital asset definition accounts or notes receivable acquired in the ordinary course of trade or business. 11 See McAllister v. Commissioner (157 F. 2d 253 (2d cir.. 1946)) treating a life estate;...

...Stock in trade or property of a kind includable in inventory; (b) property held primarily for sale to customers in the ordinary course of the taxpayer's...specifically excluded from the capital asset category, net gains realized on their sale or exchange are taxable at the alternative differential rate. Net losses,...