SCHEDULE C (Form 1120) UNITED STATES

U. S. Treasury Department

Toten Revenue Service SCHEDULE OF CAPITAL GAINS AND LOSSES
For Calendar Year 1949

Or fiscal year beginning 1949, and ending

(Insurance companies using this form see footnotes 1 to 3, inclusive)

_, 1950

ed

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 ~ iaraey ie i
tas Setuen. Form 1120 oF Garey the corporation did not
sell or exchange any

Form 1120M, for the tax-
able year, in case of sale --| capital assets during the

; Sic and abe)
or exchange of capital ¢ ? taxable year.
assets.!
2, Date Acquired | 3. Date Sold 4, Gross Seles Price | 5. Depreciation Allowed | 6, Cost or Other Basis 7. Expense of Sale
. ‘Contract Pele) {erallowable) Since | ‘and Cost of Improves
1. Desotiption of Property ‘Aoquattion or
Hae 11518

Mo. Day Year | Mo, Day Year (Furnish detaits)
SHORT-TERM CAPITAL GAINS AND LOSSES—ASSETS HELD FOR NOT MORE THAN 6 MONTHS

$. $2.

$...

1, Total
2. Net short-term capital gain (or loss) (column 4 plus column 5 minus the sum of columns 6 and 7, line 1).
8. Net capital loss carry-over * (attach statement)
4. Total net short-term capital gain (or loss).

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

Total net long-term capital gain (or loss) (column 4 plus column 5 minus the sum of columns 6 and 7, line 5)
SUMMARY OF CAPITAL GAINS AND LOSSES

es

2, GaIN OR Loss To BE TAKEN INTO ACCOUNT
(@) Gain (b) Lass

1, Chassivication

x

. Total net short-term capital gain (or loss) from line 4, above.
Total net long-term eapital gain (or loss) from line 6, abovi
Total net short-term capital gain (or excess of net short-term capital gain over net long-term capital
Joss) (line 7, col. 2 (a) minus line 8, col, 2 (b)). (Enter as item 12 (a), page 1, Form 1120 ®).
10. Total net long-term capital gain (or exeess of net long-term capital gain over net short-term capital loss)
(line 8, col. 2 (a) minus line 7, col. 2 (b)). (Enter as item 12 (0), page 1, Form 1120 ®)
._ Net loss in column 2, lines 7 and 8. _(No net loss allowable).
COMPUTATION OF ALTERNATIVE TAX
USE LINES 12 TO 28 IF THE NET LONG-TERM CAPITAL GAIN EXCEEDS THE NET SHORT-TERM CAPITAL LOSS OR IN CASE OF ONLY A NET LONG-TERM CAPITAL GAIN, AND LINE 5 OR 10,
12, Net income (item 34, page 1, Form 1120)
13. Less: Total net long-term capital gain (or excess of net long-term capital gain over net short-term capital loss) (line 10
of summary above).

e

2

KXXXXxx|xX Xx

L

FORM 1121, EXCEEDS $2,001

$..

14. Ordinary net income (line 12 minus line 13)...

15. Less: Interest on certain obligations of the United States and its instrumentalities issued prior to
March 1, 1941 (line 2, page 3, Form 1120).. $.

16, Dividends received credit (85 percent of column 2, Schedule E, but not in excess of 85 per-

cent of line 3, page 3, Form 1120)...
17. Income subject to normal tax.

NORMAL TAX COMPUTATION
18. Normal tax. If amount on line 17 is:
Not over $5,000; enter 15 percent of line 17..
Over $5,000 but not over $20,000; enter $750, plus 17 pereent of excess over $5,000.
Over $20,000 but not over $25,000; enter $3,300, plus 19 percent of excess over $20,000.
Over $25,000 but not over $50,000; enter $4,250, plus 31 percent of excess over $25,000.
Over $50,000; enter 24 percent of amount on line 17.

Nors. The normal tax of foreign corporations engaged in trade or busine:
income subject to normal tax, irrespective of the amount.
‘SURTAX COMPUTATION

within the United States is 24 percent of

19. Ordinary net income (line 14, above).

20, Less: Dividends received credit (85 percent of column 2, Schedule E,
but: not in excess of 85 percent of line 3, page 3, Form 1120,
excluding from the computation certain dividends received
on preferred stock of a public utility).

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

22. Income subject to surtax.
23, Surtax. If amount on line 22 is:
Not over $25,000; enter 6 percent of line 22 (8 percent in case of a consolidated return) -..

Over $25,000 but not over $50,000; enter $1,500, plus 22 percent of excess over $25,000 ($2,000, plus 24 percent of excess
over $25,000 in case of a consolidated return)
Over $50,000; enter 14 percent of amount on line 22 (16 percent in case of a consolidated return).

. Partial tax (line 18 plus line 23).
5. 25% of line 13...
. Alternative tax (line 24 plus line 25). senso
, Total normal tax and surtax (line 12, page 3, Form 1120)...
. Tax liability (line 26 or 27, whichever is lesser). (Inter as line 13, page 3, Form 1120).

BNSERE

Nore 1. Companies taxable under section 204 and having losses from capital assets sold or exchanged in order to obtain funds to mect abnormal insurance losses, ete,, shall attach a schedule corresponding
to Schedule D, Form 120M.
Nors 2, “Net capital los," with respect to companies taxable undor section 204 or section 207 (a) (1) of (3), means the empunt by whivl the losses (ar the tenable year {rom sales or exchanges of capital
‘assets exceed the sun 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 eapital assets) of
{G) lowes from the sale or exebange of capital assets sold or exchanged to obtain funds to mect abnormal insurance losses and to provide for the paymient of dividends and similar distributions to policyholders,
‘Nore 8, For companies taxable under section 207 (a) (1) of (3), all references to “item” or “line” numbers, Form 1120, shall be considered as referenoes to the appropriate “item” or “Tine” in Form 1120M,
It will be necessary for such companies to substitute, in len of linds 18 to 24, inclusive, a computation conforzuing to that on page 2 of Form 1120M.

te—s0486-1 Fev. &. covennuenT