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" Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner may... "
Statutes of the United States of America - Page 251
by United States - 1921
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Cases Decided in the Court of Claims of the United States, Volume 88

United States. Court of Claims - 1939 - 690 pages
...insurance or otherwise. (j) Bad debts. — Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner,...Commissioner may allow such debt to be charged off in part. [Sec. 23.] The plaintiff contends that it is entitled to deduct the amount of the indebtedness due...
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Cases Decided in the Court of Claims of the United States, Volume 91

United States. Court of Claims - 1940 - 772 pages
...claims a deduction for a partial bad debt under that portion of section 23 (j) which reads as follows: And when satisfied that a debt is recoverable only...Commissioner may allow such debt to be charged off in part. This section, however, has in mind a transaction to be completed in the future, and not one already...
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Digest of the Federal Revenue Act of 1921: For Income and Excess Profits ...

National City Company - 1921 - 104 pages
...ordinary course of their business. 97 "(5) Debts ascertained to be worthless and charged off within the taxable year (or in the discretion of the Commissioner,...Commissioner may allow such debt to be charged off in part;" Provision for charge-off of a reserve or fractional loss is new. 98 "(6) The amount received as dividends...
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The Federal Statutes Annotated: Containing All the Laws of the ..., Volume 4

United States - 1922 - 1028 pages
...price or value as of March 1, 1913 ; (7) Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner,...Commissioner may allow such debt to be charged off in part.; (8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...
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Barnes' Federal Code: Containing All Federal Statutes of General and Public ...

United States - 1922 - 756 pages
...price or value as of March 1, 1913; (7) Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner,...Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...
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Journal of Accountancy, Volume 33

1922 - 500 pages
...there shall be allowed as a deduction : Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the commissioner,...commissioner may allow such debt to be charged off in part. The foregoing provision changes the previous practice in two particulars — first, by recognizing...
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Federal Income Tax Problems --1922

Emerson Emanuel Rossmoore - 1922 - 592 pages
...and charged off within the taxable year (or, in the discretion of the Commissioner, an» reasonable addition to a reserve for bad debts) ; and when satisfied...Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear and tear 120,123 of property used in the trade...
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Comparison of the Revenue Acts of 1918 and 1921: With Index ...

United States. Congress. House. Committee on Ways and Means - 1923 - 256 pages
...price or value as of March 1, 1913; (7) Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner,...Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...
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Practical Questions and Answers on the Federal Tax Laws Affecting Individual ...

Irving Bank. Columbia Trust Company - 1923 - 148 pages
...the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve fa bad debts); and when satisfied that a debt is recoverable...the Commissioner may allow such debt to be charged oft in part; (8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade...
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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - 1924 - 396 pages
...there shall be allowed as deductions:] (7) Debts ascertained to be worthless and charged off within the taxable year (or, In the discretion of the Commissioner,...Commissioner may allow such debt to be charged off in part; from income of an addition to a reserve for bad debts. Taxpayers were given an option for 1921 to select...
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