(Name of corporation, joint stock company or association) the principal place of business of which is located at.... (The "year" as hereinafter used means the calendar year or fiscal year as the case may be.) 1. Total amount of paid-up capital stock outstanding at close of the year, or if no capital stock, the capital employed in the business at the close of 2. Total amount of bonded and other indebtedness out standing at close of year..... 3. GROSS INCOME (see Note A, and instructions, paragraphs 10, 17, 18, and 19 supra). DEDUCTIONS 4. (a) Total amount of all the ordinary and necessary expenses paid within the year in the maintenance and operation of the business and properties of the corporation EXCLUSIVE OF INTEREST PAYMENTS. (See Note B.).............. $...... (b) All rentals or other payments required to be made as a condition to the continued use or possession of the property (see paragraph 12).. $. 5. (a) Total amount of losses sustained during the year not compensated by insurance or otherwise.... $. (b) Total amount of depreciation for the year. (See paragraphs 13 and 14.)...... 6. (a) Total amount of interest accrued and paid within the year on an amount of bonded or other indebtedness not exceeding one-half of the sum of its interest-bearing indebtedness and its paid .... $...... up capital stock outstanding at the close of the the year (b) Total amount of interest received upon obligations of a State or political subdivision thereof and upon the obligations of the United States or its possessions.... 7. (a) Total taxes paid during the year, imposed under authority of the United States or any State⚫ or Territory thereof.... (b) Foreign taxes paid..... TOTAL DEDUCTIONS.. 8. Net income on which tax at 1 per centum is calcu NOTE.-The above blank spaces for figures should show the amount of each respective item. If there is nothing to return as to any item, the word "none" must be written in such blank spaces. [VERIFICATION AS IN FORM 1031.] NOTE A.-Gross income shall consist of the total of the gross revenues derived from the operation and management of its business and properties, together with all amounts of income from other sources, including dividends received on stock of other organizations, whether subject to this tax or not, and interest received upon obligations of a State or political subdivision thereof, and upon the obligations of the United States or its possessions, as shown by entries upon its books during the year for which the return is made. NOTE B.-The deductions authorized shall include all expense items under the various heads acknowledged as liabilities by the corporation making the return and entered on its books during the year. Amounts of income expended in paying dividends on stock, preferred or common, or in making permanent improvements or betterments, etc., or in any way transferred to capital account, are not proper deductions in ascertaining annual net income. Interest paid on mortgage indebtedness on real estate occupied or used by a corporation may be deducted in Item 4, if the interest is paid, as a rental or franchise charge, payment of which is required to be made as a condition to the continued use and possession of the property. The amount so paid and included in Item 4 should be stated separately under Item 4 (b). (See paragraph 12 in Form 1031 supra.) [INSTRUCTIONS AS IN FORM 1031 supra.] RETURN OF ANNUAL INCOME BY FIDUCIARIES. (FORM 1041) (As provided by Act of Congress approved October 3, 1913.) RETURN OF INCOME RECEIVED OR ACCRUED DURING THE YEAR ENDED DECEMBER 31, 191.. (For the year 1913, from March 1, to December 31.) Filed by. of..... ..(name of fiduciary), acting in the capacity . (state whether trustee, executor, etc.), for the bene ficiaries of the estate or trust of....... (Fill in pages 2 and 3 before making entries on this page.) 1. GROSS INCOME (see page 2, line 11)..... 2. TOTAL DEDUCTIONS (see page 3, line 9)... 3. Amount of income paid or payable to beneficiaries on which the normal tax of 1 per cent has been deducted and withheld as listed below... [Page 2 of Form 1041] GROSS INCOME. This statement must show in the proper spaces the entire amount of gains, profits, and income coming into the custody or control and management of the fiduciary, for the benefit of the beneficiaries of the trust or estate, during the year specified on page 1. Amount of in- 1. Total amount derived from salaries, wages, or compensation for personal service of whatever kind and in whatever form paid.... 2. Total amount derived from professions, vocations, businesses, trade, commerce, or sales or dealings in property, whether real or personal, growing out of the ownership or use of or interest in real or personal property, including bonds, stocks, etc...... $. 3. Total amount derived from rents and from 6. Total amount of income derived from cou- $... B. Amount of income on which tax has NOT been deducted and withheld at the source. gages or like obligations (not payable in the 7. Total amount of income derived from any $. 8. TOTALS..... $...... .$ NOTE. Enter total of Column A on line 8 of third page. 9. AGGREGATE TOTALS OF COLUMNS A AND B...... $........ 10. Total amount of income derived from dividends on the stock or from the net earnings of corporations, jointstock companies, associations, or insurance companies subject to like tax...... (To be entered on line 7 of third page.) 11. AGGREGATE TOTAL of "Gross Income" (to be entered on line 1 of first page)... [Page 3 of Form 1041] DEDUCTIONS. 1. The amount of necessary expenses actually paid in carrying on business, but not including business expenses of partnerships, and not including personal, living, or family expenses. 2. All interest paid within the year on personal indebtedness of taxpayer...... 3. All United States, State, county, school, and municipal taxes paid within the year (not including those assessed against local benefits)..... 4. Losses actually sustained during the year incurred in trade or arising from fires, storms, or shipwreck, and not compensated for by insurance or otherwise....... $...................... |