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Rev. Rul. 55-352, 1955-1 CB 372

REV-RUL, Determination of period for which capital assets are held., Rev. Rul. 55-352, 1955-1 CB 372, (Jan. 01, 1955)

REGULATIONS 118, SECTION 39.117(h)-1: Determination of period for which capital assets are held.

For the purposes of section 117(h) of the Internal Revenue Code of 1939 relating to the determination of the period for which property is held, the holding period of timber, acquired by a corporation (transferee) in a nontaxable exchange under section 112(b)(5) of the Code and subsequently cut by such corporation under the elective treatment accorded the cutting of timber under section 117(k)(1) of the Code, includes the period during which such timber was held by the transferor. Compare G. C. B. 25301, C. B. 1947-2, 83.