SCHEDULE € (Form 3320) UNITED STATES

Totemal Revenue Service SCHEDULE OF CAPITAL GAINS AND LOSSES
For Calendar Year 1947

Or fiscal year beginning . _y 1947, and ending _

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

, 1948

. I PRINT PLAINLY CORPORATION'S NAME AND ADDRESS
This schedule must be

filed with and as a part of Do not file this form if
e corporation’s income | - (Name) "| the corporation did not
tax return, Form 1120 or

Form 1120M, for the tax- sell or exchange any
able year, in case of sale eee sad wets capital assets during the

or exchange of capital taxable year.

assets.’

6. Depreciation Allowed.

3, Gross Sales Price 5, Expense of Sale and (or allowable) Sinee 7, Gain or Loss (column
1, Deseription of Property 2, Date Acquired (Contract pried 4. Cost or Other Basis | Gost of Improvements Acquisition or 3 plus column 6 minus the
Subsequent to Aequi- March 1, 1913, sum of columns 4 and 5)

sition or Mareh 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 HEI

8.

8.

Total net long-term capital gain (or loss)

SUMMARY OF CAPITAL GAINS AND LOSSES

2. GaIN or Loss To Be TAKEN INTO ACCOUNT

uve 1. CLasstricati0N
(@) Gain (©) Loss

I, Total net short-term capital gain (or loss) from column 7, abov'

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

IIT. Excess of net short-term capital gain over net long-term capital loss (line I, eol. 2 (a) minus line
II, col. 2 (b)). (Enter as item 12 (a), page 1, Form 11204).
TV. Excess of net long-term capital gain over net short-term capital loss (line II, col. 2 (a) minus line
I, col. 2 (b)). (Enter as item 12 (b), page 1, Form 1120)

V. Net loss in column 2, lines I and II. (No net loss allowable).__... ~ xxXxxxxx/]xx

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

XXXXxXxx |x x

xxxxxxx] x x

1. Net income (item 31, page 1, Form 1120)........
2. Less: Excess of net long-term capital gain over net short-term capital loss (line IV of summary above)
3. Net income reduced by excess in line 2 (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 32, page 1, Form 1120). -
5. Dividends received credit (85 percent of column 2, Schedule E, but not in excess of

85 percent of item 33, page 1, Form 1120).
6. Balanceysubject to normal tax..

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

7. Balance subject to normal tax (line 6).
8. Portion of line 7 (not in excess of $5,000); and tax at 15 percent...
9. Portion of line 7 (in excess of $5,000 and not in excess of $20,000); and tax at 17 percent.
10. Portion of line 7 (in excess of $20,000 and not in excess of $25,000) ; and tax at 19 percent.
11, Portion of line 7 (in excess of $25,000); and tax at 31 percent...
12, Total normal tax (total tax in column 3 of lines 8, 9, 10, and 11)..

DOMESTIC CORPORATIONS WITH NORMAL-TAX NET INCOMES OVER f5100 AND FOREIGN CORPORATIONS ENGAGED IN BUSINESS
THIN THE UNITED STATES IRRESPECTIVE OF AMOUNT OF NORMAL-TAX NET INCOME

13. Balance subject vid normal tax (Jine 6)...

15%
17%
19%
31% |.

14, Normal tax (24 percent of line 13)..

‘SURTAX COMPUTATION

15. Net income from line 3, above...

16. Less: Dividends received credit (85 percent of column 2, Schedule E, but not in excess
of 85 percent of item 33, page 1, Form 1120 (excluding from the computation
dividends received on certain preferred stock of a public utility))

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

18. Balance subject to surtax_.

CORPORATIONS WITH SURTAX NET INCOME NOT. OVER $50,000

19. Balance subject to surtax (line 18)..
20. Portion of line 19 (not in excess of $25,000); and tax at 6 percent (or 8 percent in the
case of a consolidated return) -

21. Portion of line 19 (in excess of $25,000 and not in excess of $50,000); and tax at 22 percent.
(or 24 percent in the case of a consolidated return)...

22. Total surtax in column 3 of lines 20 and 21...
CORPORATIONS WITH SURTAX NET INCOME OVER $50,000

23, Balance subject to surtax (line 18).
24. Surtax (14 percent of line 23) (or 16 percent in the case of a consolidated return).
25, Partial tax (line 12 or 14, plus line 22 or 24, whichever is applicable)
26. 25% of line 2...
27. Alternative tax (line 25 plus line 26)...
28. Total normal tax and surtax (line 18, page 3, Form 1120).
29. Tax liability (line 27 or 28, whichever is lesser). (Enter as line 19, page 3, Form 1120)

|. 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 corresponding.
to schedule Is, Fann lahat

Nore 2. “Net capital toss,” with respect to companies taxable under section 204 or section 207 (a) (1) or (8), means the amount by which the losses forthe taxable year from sales or exchanges of capital
assets 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) or
G2) ees from the sale or exchange of capital ‘ssots sold or exchanged to obtain funds to meet abnormal insurance losses and to provide for the payment of dividends and similar distributions to policyholders
fore 3. For companies taxable under section 207 (a) (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 120M.

It will be neoassery fof such companies to substitute A lio of fine fee 28, inclusive, @ computation conforming to that on page 2 of Form 1120M.

10—W0504-2 YEU. 5. GOVERNMENT PRINTING OFFICE