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if you got $10,000 from the road and you put that $10,000 into stocks and bonds that netted you 6% interest then ofcourse, you would have to pay tax on that, but in the first instance, the money you got from the allotted land, now, John, that's so even though the land was patented for the purpose of selling it to the government.
(That's right, it loses its tax exempt status once its patented, for whatever reason, but there is no capital change tax payable on it, the department has dropped, as I understand it, all of those cases in which they asserted a patent was due where a man would get a patent and immediately sell. Because he was entitled to get his capital unimpaired. And you can't impair it by taking part of it for capital gains tax on the amount by which his allotment has increased in value since the time that it was allotted and thentill it was patented in fey. However, once it was patented in fey and taking its value on that fey, they can tax any inceome on it. Now its the same way with proceeds. You get those proceeds from the land when it comes out from under the trust, there's no tax payable on them, but if you reinvest or the government puts it in bonds, for instance, holds it in trust in the treasury and puts interest on it, that interest is taxable even though the money itself is in trust. It has lost its exemption under the General Allottment Act from a fee patent position.
Question:  Executive Order extending the Tribal ? Period for one year, was the Internal Revenue trying to supersede that order for purposes of taxing. Is that your question?
Until that period expires, (not clear at all) (Howard's statement not clear.) Thank you Howard, Would it be fair to say that probably the Bureau of Internal Revenue had nothing to do with that Executive Order. They said they had nothing to with the Executive Order, either not wanting it issued, or trying to supersede it or anything.

Transcription Notes:
mark for strikethrough E under (howard's statement not clear.) and unsure of word after "alloted land,".