The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-26
Anmony .. Not an Allowable Deduction

c.mber al, 1914. / ma a gross incom. .,
'3.375. ! paid allm!ny. OF 1900. leaving
again and living with my wife. do / have
TO make a return. and ~ 40. on what
Answer-You should maxi a return.
although o will not have TO pay any
tar.
Exemption ~ widower.
&c. p. Ms a widower with tive de.
pendent children over 81 exempted TO the
amount OF $4,000 Kindly answer az coon
as possible.
Answer-No. His exemption 10 only
$4,000.
which Column Interest should be Entered.
66-r n S-Shonld income ~ ~,nt.-..,
from mortgages and savings bank, be On.
tered under column A or II in income tar
Form 1870 NndividuaO | assume "
should go in A as l receive my full in.
terest.
Answer should 90 IN column h
A Return should he FILED.
Sill. r. IA man and ~. nav.
Ii2 900. net income line ~ OF $500. o,
which. $500 : from dividends on stock.
dIne ~ and $4,000 from coupons Of bonds
exemption cline 60 II $4,000. OF course no
psys no tax. but should he fle a return7
Answer-Yes.
Dividends.
Go. C.-Please give reason for your
] answer TO some inlulfefS thAF - IL not
necessary 10 include stock dividends In The
return unless a person income. inrlYd rg
such dividends, Is in excess OF SO 600
last years form did not calling fAr A
] statement rs 10 the amount OF such tivl-
dends. and. so FAR as appears. an answer
payer even though the same amount i'
also Included In the, deductions On the
first page Of the blank.
Answer-The Treasury Department
] ruIirCs do not repufrA that diNidtrts ta
reported, even though there is a space
for them, unless the income totals
$40, 900 OF over.
Transactions In securities.
ss-A CD A bought certain $50 -
Nv. or ten years ago. lie so'' 'ha0u -
year with a profit, which 90 the greatest
extent has been accumulated .u H-
years Is he entitled 20 prort'e 81. &C.,
FOR the last YEAR t2l \ pr.r1f" g.f.
IA. invested a large capiio' a"' tsen.
lions + e. he Is doing mo-e o. - l-
Investment bushes L. he en-" '
making OUT his income tax return
Answer-GD He can prora'" ' "1'
he must include the profit FOR 1913 "'e
the income tax law went INTO ."..' ts
well as 1914. go Not unless he = q
recognized dealer in securities
Withholding R-nt--Ciaiming Rcfnnd.
7o-H. II BID our corporation -er'.
It's hoor space ana power =" -, s
diviiual. not a corporation Th" Gems -
rent and power are not s.paft''. ~ o.'
.eg~s or on our bills. ShnJ.' 80 Vlt
ho'l a tax IN EXCESS q, 3 .1o minimum
- one Of our officers + raai 2 -' az, %
- being married he IS entitled N a I.
suo'ion %, 81, 600, OF cour-- We ht,- ~'h
he'd tho TAX on me fiooo 'lN'h.- ana
Paid same This oTeer has Other ts'ls
. lions such as taxes. a.. MA hH . fHf
'srtly enti,'ed 20 orer a.. o-l.~r 90 GOV
eminent regulations. yet $50 k'.v D.: 40
rule whereby We are - rreoF'as 'N"-s
Deductions II We pay HE ''N e.' AA'r'
him w.th II, ws"re an n." '.".
Arswer-l Yes. ~ Hs should
have fled with the corporation 'er'"-
cate 1908 before Jtnuury - 1875
showing the additional deductions TH'
corporation would then return 20 I'm -.
excess tax withheld II h" did not Hl-
such n certificate the only rr.nlr-' H.N
is TO enter a claim against the oi,y'-n-
ment. which IL likely 10 be a pro,raf''f
process.
Front on Stocks.
Tt. -R-oirrnr 90 40
matter ~ one branch - oI- 'g ~
co-rcSpo01"rcr le' ne ~n' 'Nt' '"' 80 u
! sod AZ, year was an .rv's'm,.t MA
tven'y-three wears ag' at - d -Naf'
until | sod - last YEAR A. pt- ? as .r'e 49,
a. 2 PER cent from da'a o. rI~. ht.-
Does he amount above The o''r r.
stl,u'e a prort' = vas % '-"f' '....
action and the corporation. ! .~at''s''
mas gone out 90 existence ! s.0lG .
on, even. The interest amo.n'-t 90 a. D..
sl.loO.
Answer-we should mink MAT -
amount above the original cos ~.
profit, but this can be prora'et
Claiming Exemption on salary
&C r IA man ---yes 5 go
salary on which income AK = -''t''"' a.
! source.
This would be ......,'' HtN.'
Less exemption. ....,. -.. ".'
a. ~ -. L. -