The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-22

clude dividends In your return me IN
terest ON the note 10. however. an Aiiowa-
bic deduction from your other Income
CD Dividends from Insurance companies
do not have 20 be included either.
90 II the wood sold was eturnpase
We should think that II was sale or
assets and therefore not income. The
cost Of new building could not OF course
BE- deducted from your Income. but II the
farm Was operated at loss tina loss
should be an allowable deduction.
Income From Trust Fund.
it7-G z, o. ann .ayt s BY 20, Sod ~sd
s Ss opis,on the fe II actual facts:
As sister y died in New York CITY. leaving
to be KEEP, Invested in good interest bearing
securities and the interest TO be paid to 4
snngsiiy so ons as he shall Ill, i've. At A. 80
Other reis,ives This fund 10 ana for years
has been invested in w nor and -o,,,
I'M. fund held by the trustee under the WI
him TO pay an income tax Must he include
in his return OF income under the tax Law
this $500 cor nve ssths Of IT ,or ten months
In thi. easel or :. II tsken gu, OF the opera
annual sif, Of about 5000 per annum during
Answer---A should certainly include the
5000 ~ part OF his income. We do not
think tina, such income can be considered
at all a gift under the income tax
law.
Goods sold ON Instruments.
ISIS J This sus,nes. Ta n, "a
I signing for trial ANerward they are sen
orally purchased on conditional sales
~ Can any shipments escept those which
were made between March l. lsis and Jan
unary 4. 1914, be considered as furnishing
/ Inc ONE for this present return
| % What payments on such shipments
isis7 Those .e,usIiy received in Inc period
OF course. but as g deferred payments to be
.idsr.d as Income Tor the year isls!
0p A. to payments received In mi. ten
arisinx from shipments and transactions
prior to March !, 1919 can these he con,
They are simply COLLECTION. OF and upon
previous investments wl,nou, any nronl
Only a change in he torn Of an asset pr.
! viousiy held; namely. It's conversion into al
! equivalent smount Of cash
Answer 90 We should think not.
CD We should think that the full salt
price OF the goods should be oonsideres
income regardless OF whether the goods
are paid for In full or not.
lD We think that such payment
would not be considered income for 1919
How TO Figure Net Income.
yss BY rRr srs 1G .rs my.. H Of Fry't s.
Ing y sub.criber for many years and All
sending you an exact copy OF nve-s ixths .
, ON, sixth.
y. i"sSfS' and July, ,s, $1,000 0r!ss
. Tebrusry and August. isl?b 10000 lsss
An sy an. sSd s Ss,%Ss i;;ii sSS
unite. state. ,...,.. $500. ' 81. GO ": ~.
. preisrrsd =" -, 1900 so:sco
. Dlvidsnds on Auto
. Elec '''''''''''' li'"'t
: nsO7s sS55: iss,
I ,sIW72 slsII
Less interest paid ..s,
p, Less tsIss paid,
. VITO .t.tt''''''' itos 49,.
y Ne, rec.,p,- Observation-Disclosures. ,ss5s'
+ Technically ! am exempt from reporting e
r ten months Of 1919, but VIII not be Tor AZ
as Isii Income VIII exceed $1,000 4
coupon. cnshsd In fan across bank ~ounte
! know il entry should be in column 4 or
. psEe :, Form ioto, Wiii you kindly advi
\ me how should make out my return
. Answsr---lf the above represents 20,
& income for 1913 It Is probably nece
i sary for you to make "A return, II IN In
possible TO tell from your statement, HOY
;. ever, Just how much of this income W;
!. due and payable between March al
:. December a.. 1919. All coupons paid {
n or after March should be included
v your 1918 return Assuming that on
i halt Of the items (a) and % were d.
" ana payable in January and FebraSl
!. your Income from coupons alone would
S3.203 for the 1913 taxable period. Z