SCHEDULE C (Form 1120)
Treasury Department
Internal Revenue Service

Or fiscal year beginning .

UNITED STATES

For Calendar Year 1948

_, 1948, and ending -

SCHEDULE OF CAPITAL GAINS AND LOSSES

, 1949

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

This schedule must be
filed with and as a part of
the corporation’s income
tax return, Form 1120 or
Form 1120M, for the tax-
able year, in case of sale
or exchange of capital
assets.!

PRINT PLAINLY CORPORATION'S NAME AND ADDRESS

Ramey

Do not file this form if
the corporation did not
sell or exchange any
capital assets during the
taxable year.

‘City’or town, postal zone narmber)

1, Deseription of Property

2, Date Acquired

3. Gross Sales Price
(Contract price)

45, Expense of Sele and
Gost of Improvements

ubsequent to Acqui-
sition or Mareh 1, 1913

4. Cost or Other Basis

(or allowable) Since
‘Acquisition or
March 1, 1913

(Furnish details)

8. Depreciation Allowed |

7. Gain or Loss (column
3 plus column 6 minus tho
‘sum of eolumins 4 and 5)

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)...

Pa

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 on Loss To B

= TAKEN INt0 Account

1, Cuasstricarion
(a) Gain

(b) Loss

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

=

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

7. Total net short-term capital gain or excess of net short-term capital gain over net long-term capital
loss (line 5, col. 2 (a) minus line 6, col. 2 (b)). (Enter as item 12 (a), page 1, Form 1120 §). -| 8.

xxxxxxx|x x

~

. Total net long-term capital gain or excess of net long-term capital gain over net short-term capital loss
(line 6, col. 2 (a) minus line 5, col. 2 (b)). (Enter as item 12 (b), page 1, Form 1120 -

xxxxxxx|x

9. Net loss in column 2, lines 5 and 6. (No net loss allowable).

$.

‘COMPUTATION OF ALTERNATIVE TAX

USE ONLY IF THERE IS A NET LONG-TERM CAPITAL GAIN OR AN EXCESS OF NET LONG-TERM CAPITAL GAIN OVER NET SHORT-TERM CAPITAL LOSS, AND LINE § OR 10. PAGE 3, FORM 1120, EXCEEDS $20,000

). Net income (item 34, page 1, Form 1120). .
Less: Total net: long-term capital gain or excess of net long-term capital gain over net short-term capital loss (line 8 of

ul
summary above).
12. Ordinary net income (line 10 minus line 11)..
13. Less: Interest on certain obligations of the United States and its instrumental
Mareh 1, 1941 (line 2, page 8, Form 1120)... -
M4. Dividends received credit (85 percent of column 2, Schedule F, but not in exeess of 85 per-
cent of line 3, page 3, Form 1120)...
15, Tneome subject to normal tax.. -
NORMAL TAX COMPUTATION |
16. Normal tax. If amount on line 15 is:
Not over $5,000; enter 15 percent of line 15
Over $5,000 but not over $20,000; enter $750, plus 17 percent of excess over $5,000.
Over $20,000 but not over $25,000; enter $3,300, plus 19 pereent of excess over $20,000.
Over $25,000 but not over $50,000; enter $4,250, plus 81 percent of excess over $25,000.
Over $50,000; enter 24 percent of amount on line 15. |
Nore. The normal tax of foreign corporations engaged in trade or business wit
income subject to normal tax, irrespective of the amount.
'SURTAX COMPUTATION
17. Ordinary net income (line 12, above).
18. Less: Dividends received credit (85 percent of column 2, Schedule E,
ut not in excess of 85 percent of line 3, page 3, Form 1120,
excluding from the computation eertain dividends received
on preferred stock of a publie utility).
19. Dividends paid on certain preferred stock if taxpayer is a public
utility... -
20. Income subject to surtax.
21. Surtax. If amount on line 20 is:
Not over $25,000; enter 6 percent of line 20 (8 percent: in case of consolidated retvrn)
Over $25,000 but not over $50,000; enter $1,500, plus 22 pereent of excess over $25,006 ($2,000, plus 24 pereent of excess
over $2,000 in case of a consolidated return). a -
Over $50,000; enter 14 percent of amount on line 20 (16 pereent in ease of a consolidated return). -
22, Partial tax (line 16 plus line 21)
23, 25% of line 11
24, Alternative tax (line 22 plus line 23)..
25, Total normal tax and surtax (Line 12, page 3, Form 1120) —
26. Tax liability (line 24 or 25, whichever is lesser). (Enter as line 13, page 3, Form 1120)

‘Nore 1, Companlas gable wader setion 204 and having losses fom capital ants slo exchange fn oder to obtain funds to meet oral nsurece ss, ete, shell atach a schedule corresponding

to Schedule'D, Form 120M.

Nore 2, “Net capital loss," with respect to com
assets exoved the stm of the gals from stich sales or exchanges and the lesser of (1) tae corporation surtax net incotie’ (con
Gyilosses ont the sue or exchenge of capital assets sold or exchanged to obtain funds to mneot abnormal insuranee losses arid to provide f

‘puted without regard to gains or losses from saies
‘the payment of dividends and simi

Note 3. For
It will be novessary for such companies to substitute, in lieu of lines 16 to 22, inclusive, a computation conforming to thet on page 2 of Form 1120M.
10—se548-1

nies taxable under seetion 204 or scetion 207 (a) (1) or (8), means the amount by whieh the losses for the taxable year from sales or exchanges of eapital
for exchanges of eapital assets) or
ilar distributions to policyholders,

companies taxable under section 207 (a) (1) or (3), all roferences to “item” or “ine” numbers, Form 1120, shall be considered as references to the appropriate “item” or “ine” in Form 120M.