Statistics of Income from Returns of Net IncomeU.S. Government Printing Office, 1955 |
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... Deductions .. Types of tax .. TABLES FOR TAXABLE FIDUCIARY RETURNS , 1951 1. Number of returns , total income , and ... deductions , net income , exemption , tax , and frequencies - by total income classes ... 4 . 3. Income or loss from ...
... Deductions .. Types of tax .. TABLES FOR TAXABLE FIDUCIARY RETURNS , 1951 1. Number of returns , total income , and ... deductions , net income , exemption , tax , and frequencies - by total income classes ... 4 . 3. Income or loss from ...
Page 6
... deductions in excess of the standard deduction allowed through use of the tax table , he must file the long - form return and compute the tax liability on the basis of the net income less the allowable exemptions . Persons with adjusted ...
... deductions in excess of the standard deduction allowed through use of the tax table , he must file the long - form return and compute the tax liability on the basis of the net income less the allowable exemptions . Persons with adjusted ...
Page 7
... deductions , expenses of travel and lodging in connection with employment , reimbursed expenses in connection with employment , deductions attributable to rents and royalties , deduc- tions for depreciation and depletion allowable to ...
... deductions , expenses of travel and lodging in connection with employment , reimbursed expenses in connection with employment , deductions attributable to rents and royalties , deduc- tions for depreciation and depletion allowable to ...
Page 8
... deductions . The amount of these tax credits is not available . Self - employment tax is paid on net earnings from self - employment for the taxable year and no tax credit is allowed . Income tax liability is after the deduction for tax ...
... deductions . The amount of these tax credits is not available . Self - employment tax is paid on net earnings from self - employment for the taxable year and no tax credit is allowed . Income tax liability is after the deduction for tax ...
Page 12
... DEDUCTIONS Itemized deductions are not available for 1951 ; how- ever , the total amount of nonbusiness deductions , taken against adjusted gross income by taxpayers , is shown in Part II of table 2. Total deductions include contribu ...
... DEDUCTIONS Itemized deductions are not available for 1951 ; how- ever , the total amount of nonbusiness deductions , taken against adjusted gross income by taxpayers , is shown in Part II of table 2. Total deductions include contribu ...
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Common terms and phrases
adjusted gross deficit adjusted gross income allowed alternative tax capital assets computed depreciation dividends estate or trust estate tax excess exclusions expenses Explanation of Classifications Forms W-2 gain from sales gain or loss gains and losses gift tax gross estate gross income classes husband and wife included Income tax liability income tax returns individual returns interest Internal Revenue Internal Revenue Code itemized deductions joint return long-form long-term capital gain loss from sales Marital deduction net estate nonresident alien normal tax number of exemptions Number of returns partnership payments percent prior Rents and royalties reported RETURNS FOR 1951 returns Number returns with adjusted sale or exchange sales of capital self-employment tax separate returns Sole proprietorships spouse standard deduction surtax net income tabulated tax and surtax tax credits tax rate tax returns tax withheld Taxable and nontaxable taxpayer Thousand Thousand dollars Thousand Thousand Thousand tion total gifts Total receipts trade or business
Popular passages
Page 186 - As used in this subsection, the term "security" means any bond, debenture, note, or certificate or other evidence of indebtedness, issued by any corporation (Including...
Page 124 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 116 - Service performed by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...
Page 127 - ... nonbusiness debt becomes worthless within the taxable year, the loss resulting therefrom shall be considered a loss from the sale or exchange, during the taxable year, of a capital asset held for not more than 6 months. (2) Nonbusiness debt defined. For purposes of paragraph (1), the term "nonbusiness debt...
Page 176 - NET EARNINGS FROM SELF-EMPLOYMENT. — The term "net earnings from self-employment" means the gross income derived by an individual from any trade or business carried on by such individual, less the deductions allowed by...
Page 16 - ... resulting from such distribution shall be considered as a gain from the sale or exchange of a capital asset held for not more than 6 months.
Page 176 - In the case of any trade or business which is carried on by an individual or by a partnership and in which, if such trade or business were carried on exclusively by employees, the major portion of the services would constitute agricultural labor...
Page 135 - ... (c) Short-Term Obligations Issued on Discount Basis. — In the case of any obligation of the United States or any of its possessions, or of a State or Territory, or any political subdivision thereof, or of the District of Columbia, issued on or after March 1, 1941, on a discount basis and payable without interest at a fixed maturity date not exceeding one year from the date of issue...
Page 143 - Returns made on the basis of the calendar year shall be made on or before the 15th day of March following the close of the calendar year. Returns made on the basis of a fiscal year shall be made on or before the 15th day of the third month following the close of the fiscal year.
Page 82 - Georgia. 12. Idaho. 13. Illinois. 14. Indiana. 15. Iowa. 16. Kansas. 17. Kentucky. 18. Louisiana. 19. Maine. 20. Maryland. 21. Massachusetts. 22. Michigan. 23. Minnesota. 24. Mississippi. 25. Missouri. 26. Montana. 27. Nebraska. 28. Nevada. 29. New Hampshire.