See ee Om UNITED STATES

Unemal Revenue Service SCHEDULE OF CAPITAL GAINS AND LOSSES
For Calendar Year 1943

-, 1944

Or fiscal year beginning. . _, 1943, and ending...

(Insurance companies using this form should follow notes 1 to 3, inclusive)

PRINT PLAINLY CORPORATION'S NAME AND ADDRESS

This schedule must be

filed with and as a part of . Do not file this form if
the corporation ’s income (Name) the corporation did not
Form 1120'M, for the tax- sell or exchange any
able year, in’ case of sale erect snd waren) capital assets during the
or exchange of capital taxable year.
assets.)
(Post Office and State)
5, Expense of Sale and | & Deprrelation Allowed
, . 3. Gross Sales Price is | Gost of Improvements (or allowable) Since 7. Goin or Loss (column
1, Description of Property | 2. Date Acquired Caeti act aries) 4. Cost or Other Basis | ECRsequent to nequls Acauis fh a 8 pis olan € minus the
0 umes

sition or March 1, 1913, (Furnish

SHORT-TERM CAPITAL GAINS AND LOSSES—ASSETS HELD FOR NOT MORE THAN 6 MONTHS

Total net short-term capital gain (or loss) a
LONG-TERM CAPITAL GAINS AND LOSSES—ASSETS HELD FOR MORE THAN 6 MONTHS

Total net long-term capital gain (or loss)..

SUMMARY OF CAPITAL GAINS AND LOSSES

2. Gain or Loss to be Taken Into Account

1, Classification: —_—
(@) Goin | () Loss

1. Total net short-term capital gain (or loss) from column 7, above...
2. Total net long-term capital gain (or loss) from column 7, above.
3. Net capital loss carry-over? (attach statement).
4. Net gain in column 2, lines 1,2, and 3, (Enter as item 12 (a), page 1, Form 11208)_..
5. Net loss in column 2, lines 1, 2, and 3. (No net loss allowable).

COMPUTATION OF ALTERNATIVE TAX
USE ONLY IF THERE IS AN EXCESS OF NET LONG-TERM CAPITAL GAINS OVER NET SHORT-TERM CAPITAL LOSSES

1. Net income (item 35, page 1, Form 1120).
Net long-term capital gain (line 2, column 2 (a), of summary above).
. Less: Net short-term capital loss (line 1, column 2 (b), plus line 8, of summary above).
. Excess of net long-term capital gain over net short-term capital loss.

. Net income reduced by excess in line 4 (line 1 minus line 4)..
Less: Interest on certain obligations of the United States an
36, page 1, Form 1120)

. Adjusted net income (line 5 minus line 6)..

its instrumentalities issued prior to March 1, 1941 (item

Less: Income subject to excess profits tax (item 38, page 1, Form 1120)...
Dividends received credit (85 percent of column 2, Schedule E, but not in excess of 85 per-
cent of item 37, minus item 38, page 1, Form 1120).......

10, Balance subject to normal tax..

CPN oa pwn

NORMAL TAX COMPUTATION: | Column 1 Column 3
DOMESTIC CORPORATIONS WITH NORMAL-TAX NET INCOMES OF NOT OVER $50,000

11, Adjusted normal-tax net income (line 10).
12, Portion of line 11 (not in excess of $5,000); and tax at 15 percent.
18. Portion of line 11 (in excess of $5,000 and not in excess of $20,000) ; and tax at 17 percen
14, Portion of line 11 (in excess of $20,000 and not in excess of $25,000) ; and tax at 19 percen
15, Portion of line 11 (in excess of $25,000); and tax at 31 percent.

16, Total normal tax (total tax in column 8 of lines 12, 13, 14, and 15)..

DOMESTIC CORPORATIONS WITH NORMAL-TAX NET INCOMES OVER $50,000 AND FOREICN CORPORATIONS ENGAGED IN BUSINESS
W THIN TLE UNITED STATES IRRESPECTIVE OF AIMOUNT OF NORMAL-TAX NET INCOME

17. Adjusted normal-tax net income (line 10)..
18, Normal tax (24 percent of line 17)

24%

SURTAX COMPUTATION
19, Net income from line 5, above.

20. Less: Income subject to excess profits tax...
21, Dividends received credit (85 percent of column 2, Schedule E, exchiding certain
dividends received on preferred stock of a public utility), but not in excess of
85 percent of line 17 minus line 18, page 2, Form 1120)

22, Dividends paid on certain preferred stock if taxpayer is a public utility.

23, Adjusted surtax net income...

CORPORATIONS WITH SURTAX NET INCOME NOT OVER $50,000
24, Portion of line 23 (not in excess of $25,000); and tax at 10 percent (or 12 percent in the
ease of a consolidated return).. . 10%
25. Portion of line 23 (in excess of $25,CC0 and not in excess of $50,000); and tax at 22 percent
(or 24 percent in the case of a consolidated return)

26. Total surtax in column 8 of lines 24 and 25...
CORPORATIONS WITH SURTAX NET INCOME OVER $50,000

27. Adjusted surtax net income (line 23)...

28, Surtax (16 percent of line 27) (or 18 percent in the case of a consolidated return ).-.
29, Partial tax (line 16 or 18 plus 26, or 28, whichever is applicable).
30. 25% of line 4..
31. Alternative tax (line 29 plus line 30)...
82. Total normal tax and surtax (line 27, page 2, Form 1120).
33. Tax liability (line 31 or 32, whichever is lesser), (Enter as line 28, page 2, Form 1190)...

Non 1. Companies taxable uncer section 204 and having losses from eapital asets sold or exchanged in order to obtain funds to meet abnormal insurance losses, ete., shall attach a schedule corre

sponding to'Sebedule D, Form 11:

Note 2, “Net capital loss," with respect to companies taxablo under section 204 or section 207 (a) (1) or (3), means the amount by which the losses for the taxable year from sales or exchanges of
capital assets exceed tho sum of the gains from such sales or exchanges and the lesser of (1) te corporation surtax net income (somputed witaout regard to gains or losses fro:n sales or e<changes of capital
sets) of (2) losses from tho sale or exchange of eapitalassts sold or exchanged to ootain fands to meet abaoramal iasurance loses a1 to provide for tho payment of dividends and similar distributions to
policyholders.

Nore 3. For companies taxable under section 207 (a) (1) or (8), all references to “item” or “line” numbers, Form 1120, shall be considered as references to the appropriate “item” or “line” in Form
120M. It will be necessary for such companies to substitute, in lieu Gf lines 11 to 29, inclusive, a computation conforming to that on page 2 of Forne 120M.

16—35060-1 Fv, 5. GOVERNMENT PRINTING OFFICE 1 1943