Show I II j Income Tax I I III I 0 O 17 11 The revenue act ot of 1924 pro pro- pro Ides that the basis for Cor determining determining ing Ine ble gain fain Or deductible losS lo from Crom tho the tile or Other disposition of propel ty acquired after 1 ebru- ebru ary any 28 35 the 1923 1 23 the first me tax X law e 1 1913 shall 1913 1 shall hall be the tho cot cost co t of such suell property with Ith certain 1 Ille he first Is thit th It if the prope t v should ha hate ha e been Included In itt the lh tapa taxpayers or er slut 5 last lant In ln onto the tho baI ba ls shall be the last lat Ins Inventor alue salue thereof roe For example It II ft cant mci-cant In 1 1923 bought boucht a 1 certaIn certai article and It was as not sold by b him prior to December ll U 1923 h MAM n In n In was In hIs ns hi Inventory Inventor a as ot of that date dato the th gain glIn gainor callor Or deductible loi would bo tho difference between the selling lc price and the amount at the article I was as carried In the tho lh In- In Inventor Inventory Inventory It Ie the tho th property was U acquired by gift after aCter December II n 1920 1020 the basis shall hall hall bo b as It would bo be boIn bein bIn In the tb n h s of tho the don r or last preceding owner by whom ham It was as not acquired by gift elft For a man III In 1921 bought stock tock In a corporation corporation at a n aha sha o 0 kept It until J 1322 1922 hen allen It WIlS wa-s worth north and then gao Bate It to his hl son eon who In 1933 1923 trans trans- cans cans- It to hi his wife nife tIe tl-e stock then being worth orth a 0 share har I It Ie In 1924 1024 th the tho wit wife sold the stock for or SOO n a share her tauble profit Is not 10 60 but ashore a share harth the gain cain over the tho cost to the la last t preceding 0 owner ner who ho did not ac- ac acquIre quIre the tho th ek by gift eitt In computing th the tho gain cain or lo loss front from tho the sale salo ale or other othor disposition of oC property acquired by gift lift or transfer In Jn trust on or e Do- Do comber 31 1 1920 1520 20 or b bequest device or Inheritance th the basis basi hall hall halI ho bo b the tho th fair Calr market or o ot of such nt at the time of acquisition For example a taxpayer In 1919 1 1 e d i gift of at real state estate as tate hoIng hat ho Ine Ing a fair mar mar- markot market markt kot ket value o of oC which he sold n n 1924 for tor The Tho original cost to tho the donor In 1916 was as The Tho Th taxable tanabi l tin ln ho hoe boneer e cr Is If |