U. S. TREASURY DEPARTMENT INTERNAL REVENUE SERVICE STATISTICS OF INCOME FOR 1948 PART 1 COMPILED FROM INDIVIDUAL INCOME TAX RETURNS, TAXABLE FIDUCIARY INCOME TAX RETURNS, ESTATE TAX RETURNS, AND GIFT TAX RETURNS For sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D, C. LETTER OF TRANSMITTAL TREASURY DEPARTMENT, OFFICE OF COMMISSIONER OF INTERNAL REVENUE, Washington, D. C., September 25, 1953. SIR: In accordance with the provisions of section 63 of the Internal Revenue Code, requiring the annual preparation and publication of statistics with respect to the operation of the Federal income tax laws, I have the honor to transmit herewith a report, "Statistics of Income for 1948, Part 1," setting forth by various classifications, data relative to income, deductions, exemptions, credits, tax liability, tax withheld on wages and other tax payments, tax refunds, and other pertinent facts reported on individual income tax returns and on taxable fiduciary income tax returns for 1948, filed during 1949. This report also contains data from estate tax returns, filed during 1949, for estates of individuals irrespective of the date of death, and data from gift tax returns for 1948, filed during 1949. In addition, there are historical presentations of significant data, published in previous reports, and a synopsis of tax rates, credits, and other provisions of the Federal tax laws which affect the comparability of historical data. 1. Simple and cumulative distributions of number of returns, adjusted gross income, and tax liability, with corresponding percentage dis- 2. Income or loss from each of the sources comprising adjusted gross income, adjusted gross income, itemized deductions, exemption, and items of tax-by adjusted gross income classes and by returns with 3. Frequency distributions of returns for each specific source of income or loss comprising adjusted gross income, for each itemized deduction, for each type of taxpayment, and for tax overpayment-by ad- justed gross income classes and by returns with standard deduction 4. Frequency distributions of returns-by adjusted gross income classes and by size of each specific source of income or loss comprising |