The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-18

Us. ~. II. ID FOE INC ytNT I
understand the. full exemption win be I'VE
slxths OF the full amount; in other words
the .p.sins sAemp,,1n ai,.Ssa OF s.SS0 to
Is this your understanding
is under s2.5oc Of married man living
with his wife whose net income is under
Ss.3s3.s3 required to make any return
90 should husbands ana wife's returns he
90 Is the dividend on bank stock to be
included in the owner. income, or Is II
paid az the bank. and II paid az the bank
does the owner have 70 notify the collector
(5j Is the Interest on railroad bonds to
paid by the railroad, and II paid by tho
railroad does the owner have to notify the
collector of internal revenue OF his claim OF
90 II the individual claims exemption on
late date may he give such notice and
how?
Answer-G) You are correct.
(2) A married man should make a re-
turn II his income exceeded $500.
go Yes. II the wife has a separate in
come of 80, 900 or over she may make
a separate return.
90 No. Dividends on stock need not
be included in the return. All corpora
tons are required to pay tax OF per
cent. on their net income.
CD Interest on railroad bonds should
be included. Unless you claim exemption
when you cash your coupons. the tax
will he withheld by the corporation or its
Withholding agent. The return form
1900 which you are required to file az
your income exceeds the above anounts)
before March I, 1914. will show the
amount of exemption to which you are
entitled.
90 He must claim exemption when the
coupons are paid.
Dividends.
should make a return whose net income Is
derived entirely from dividends from a cor.
pors,on In Sths Srd from me n Er%s' an
loans and $4,000 In dividends from cor
inrton on the fth inst which Indicates that
such return is unnecessary.
Answer-you do not have to include
dividends In your return IT you have
10 other income besides the $1,000 inter-
est Oh loans it is not necessary for you
TO make IA return.
Income Of Minor Son.
p.H SsS , y ns NY r.s ARE ss, s,sG by
comes the props,T o. her ssn; lss i. n ysn1s
TO about 1900. Net income would amount
from SEQ to ,sSO ,na WI rsspor, to III"
Answer--No.
Losses on stocks.
iei-w. " W: bought ssSngii.. in
1918 at an approEi Innate loss OF 5000.
In my return to the Government ] am de-
Quoting hve -sixths of this loss from my
.ncome--an actual loss to me
Do you think am right In doing sof
Answer-You Vhould figure your loss
as the difference between the market
value Of the securities AZ Of March I,
1918, and the price at which you sold
them.
Exemption.
10.--R FOR the period from March !
to December 81. 1913, what Ia the limit OF
Inc ome subject 10 the normal tax only
Answer-Ail income In excess Of s2-
500 In the case of "A single man or S.
333.33 In the case Of a married map 10
subject to the normal tax.
County Employees.
IN Kings county. not married. and having
salary of $500 year. DO have to make
u return?
Answer--No. The statute particularly
exempts employees OF a State or any
political subdivision thereof"
Bssiaess RUn ~ . Ioss.
1o&--w, H. My business has been run at
have been using some OF my capital and
what income I have from some other In
vestmsnts to continue business.
As do not keep coinplete set OF books