Page:United States Statutes at Large Volume 47 Part 1.djvu/272

 248 72d CONGRESS. SESS. I. CH. 209. JUNE 6, 1932 . GIFT TARES (B) a corporation, or trust, or community chest, fund, or . Corporation. foundation, organized and operated exclusively for religious, reli- gious, ches t, etc ., purposes. urp es. charitable, scientific, literary, educational including gious the encouragement of art nd the preven purposes, ion of ruelty to children or animals ; no part of the net earnings of which in- ures to the benefit of any private shareholder or individual ; (C) a fraternal society, order, or association, operating under the lodge system, but only if such gifts are to be used exclusively for religious, charitable, scientific, literary, or educational pur- poses, including the encouragement of art and the prevention of cruelty to children or animals ; et War veteran posts, (D) posts or organizations of war veterans, or auxiliary units or societies of any such posts or organizations, if such posts, organizations, units, or societies are organized in the United States or any of its possessions, and if no part of their net earnings inures to the benefit of any private shareholder or individual ; vo cat io nal rebabiu- ration fund. (E) the special fund for vocational rehabilitation authorized . Vol. 43, p. sii. by section 12 of the World War Veterans' Act, 1924. Nonresident aliens. Deductions. (b) NONRESIDENTS .-In the case of a nonresident not a citizen of the , U nited St ates, th e amount of all gifts ma de during such ye ar to or for the use of- For public purposes. (1 ) the Unit ed Sta tes, any S tate, Terri tory, or a ny pol itica l subdivision thereof, or the District of Columbia, for exclusively public purposes ; Domestic corpora. (2) a domestic corporation organized and operated exclusively tion for rel igio us, char fi . itable,etc.,purposes, for religious, charitable, scientific, literary, or educational pur- poses, including the encouragement of art and the prevention of cruelty to children or animals ; no part of the net earnings of which inures to the benefit of any private shareholder or indi- vidual ; Comm unity chest (3) a trust, or community chest, fund, or foundation, organized ands' etc. and operated exclusively for religious, charitable, scientific, liter- a ry, or educ atio nal purp oses, in clud ing the encouragement of Restriction, art and the prevention of cruelty to children or animals ; but only if such gifts are to be used within the United States exclusively for such purposes ; Fraternal' societies, (4) a fraternal society, order, or association, operating under etc ' the lodge system, but only if such gifts are to be used within the Restriction . Unit ed States exclusiv ely for religious, charitable, scie ntific, liter- ary, or educational purposes, including the encouragement of art and the prevention of cruelty to children or animals ; War veteran or gan- (5) posts or organizations of war veterans, or auxiliary units nations, ere . or societies of any such posts or organizations, if such posts, organizations, units, or societies are organized in the United States Restriction. or any of its possessions, and if no part of their net earnings inures to the benefit of any private shareholder or individual ; Vocational rehabili- (6) the special fund for vocational rehabilitation authorized by tation fund. section 12 of the World War Veterans' Act, 1924 . restrict- ed. restrict (c) The deductions provided in subsection (a) (2) or (b) shall be allowed only to the extent that the gifts therein specified are included in the amount of gifts against which such deductions are applied. t3ilts ma de in prop- SEC. 506. GIFTS MADE IN PROP ERTY. er value o f, to be con- If the gift is made in property, the value thereof at the date of sidered. the gif t shall be consid ered the amount of the g ift. Returns. SEC. 507. RETURNS. Sworn statements in (a) REQuIREEIENT .-Any individual who within the calendar year duplicate to be made. 1932 or any calendar ye ar thereafter makes any transfers by gi ft