SCHEDULE C (Form 1120) UNITED ST. ‘ATES

Treasury Department

Intra Rerene Serie, SCHEDULE OF CAPITAL GAINS AND LOSSES
For Calendar Year 1945

Or fiscal year beginning _ ., 1945, and ending _

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

-, 1946

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 the corporation did mot

tax return, Form 1120 or

Form 1120 M, for the tax- sell or exchange any

able year, in case of sale (Street and number) capital assets during the
or exchange of capital taxable year.
assets. - -
(City or town, postal zone number) (State)
5, Expense of Sale and | Depreciation Allowed
a i 3. Gross Sales Price " Cost of Improvements (or allowable) Since 7. Gain or Loss (column
1, Description of Property 2. Date Acauired ice) 4. Cost or Other Basis i- Acquisition or 8 plus column 6 minus the
iP (Contract price) Subsequent to Acqui- ‘March 1, 1913 ‘Bim of columns 4 and 6)

sition or March 1, 1913 (Furnish details)

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

Net short-term capital gain (or loss)
Net capital loss carry-over ? (attach statement).
Total net short-term capital gain (or loss)...

LONG-TERM CAPITAL GAINS AND LOSSES—ASSETS HELD FOR MORE THAN 6 MONTHS

8. | 8

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

SUMMARY OF CAPITAL GAINS AND LOSSES

2 GAIN oR Loss 70 BE TAKEN INTO ACCOUNT
(a) Gain (b) Loss

4. Cxassivication

. Total net short-term capital gain (or loss) from column 7, above...

po oe

. Total net long-term capital gain (or loss) from column 7, above...

. Excess of net short-term capital gain over net long-term capital loss (line 1, col. 2 (2) minus line

2, col. 2(b)). (Enter as item 12 (a), page 1, Form 1120*)

. Excess of net long-term capital gain over net short-term capital loss (line 2, col. 2 (a) minus line
1, col. 2 (b)). (Enter as item 33, page 1, Form 1120 8).

Net loss in column 2, lines 1 and 2, (No net loss allowable)

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

1, Net income (item 36, page 1, Form 1120)..

cy

-

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xxxuxxxx| xx

2. Less: Excess of net long-term capital gain over net short-term capital loss (line 4, of summary above)-.
3. Net income reduced by excess in line 4 (line 1 minus line 2)... .
4, Less: Interest on certain obligations of the United States and its instrumentalities issued prior to March 1, 1941 (item

37, page 1, Form 1120)
5. Adjusted net income (line 3 minus line 4)...

6G. Less: Income subject to excess profits tax (item 39, page 1, Form 1120)... -
7. Dividends received credit (85 percent of column 2, Schedule E, but not in excess of 85 per-
cent of item .38 minus item 39, page 1, Form 1120)...

8, Balance subject to normal tax...

NORMAL TAX COMPUTATION | Column 1 | col. 2 Column 3
DOMESTIC CORPORATIONS WITH NORMAL-TAX NET INCOMES OF NOT OVER $50,000

9. Adjusted normal-tax net income (line 8)...
10. Portion of line 9 (not in excess of $5,000); and tax at 15 percent.
11. Portion of line 9 (in excess of $5,000 and not in excess of $20,000); and tax at 17 percent.
12. Portion of line 9 (in excess of $20,000 and not in excess of $25,000) ; and tax at 19 percent..._...
13. Portion of line 9 (in excess of $25,000); and tax at 31 percent...

14, ‘Total normal tax (total tax in column 8 of lines 10, 11, 12, and 13)

DOMESTIC CORPORATIONS WITH NORMAL-TAX NET INCOMES OVER $50,000 AND FOREIGN CORPORATIONS ENGAGED IN BUSINESS
‘WITHIN THE UNITED STATES IRRESPECTIVE OF AMOUNT OF NORMAL-TAX NET INCOME,

15, Adjusted normal-tax net income (line 8)..

16, Normal tax (24 percent of line 15)...

SURTAX COMPUTATION

17. Net income from line 8, above...

18. Less: Income subject to excess profits tax... --

19. Dividends received credit (85 percent of column 2, Schedule E, but not in excess
of 85 percent of line 17 minus line 18, page 2, Form 1120 (excluding from the
computation dividends received on certain preferred stock of a public utility))

20. Dividends paid on certain preferred stock if taxpayer is a publie utility...

21. Adjusted surtax net income.

CORPORATIONS WITH SURTAX NET INCOME NOT OVER $50,000
22. Portion of line 21 (not in excess of $25,000); and tax at 10 percent (or 12 percent in the
case of a consolidated return)... - a -
23. Portion of line 21 (in excess of $25,000 and not in excess of $50,000); and tax at 22 percent
(or 24 percent in the ease of a consolidated return)..

24, Total surtax in column 3 of lines 22 and 23...
CORPORATIONS WITH SURTAX NET INCOME OVER $50,000

25. Adjusted surtax net income (line 21).

26, Surtax (16 percent of line 25) (or 18 percent in the ease of a consolidated return )
27. Partial tax (line 14 or 16, plus 24 or 26, whichever is applicable).
28, 25% of line 2...
29, Alternative tax (tine 27 plus line 28)...
30. Total normal tax and surtax (line 27, page 2, Form 1120)...

31. Tax liability (line 29 or 30, whichever is lesser), (Enter as line 28, page 2, Form 1120)...

Nore 1. Companies taxable under section 204 and having losses from capital assets sold or exchanged in order to obtain funds to meet abnormal insurance losses, ete., shall attach a schedule corre-
sponding to Schedule D, Form J120M.
; fet capital loss,” with respect to companies taxable under section 204 or section 207 (a) (1) or (8), means the amount by which the losses for the taxable year from sales or exchanges of
capital assels exceed the sum of the gains from such Sales or exchanges and the lesser of (1) the corporation surtax net income (computed without regard to gains or losses from sales or exchanges of capital
assets) ot (2) losses from the sale or exchange of capital assets sold or exchanged to obtain fands to meet abnormal insurance losses and to provide for the payment of dividends and simllar distributions to
policyholders.

Not 8. For companies taxable under section 207 (@) (1) or (3), all references to “item” or “line” numbers, Form 1120, shall be considered as references to the appropriate “item” or “line” in Form.
320M, It will be necessary for such companies to substitute, in lieu of lines 9 to 27, inclusive, a computation conforming to that on page 2 of Form 1120M.

18—41471-2