Page 2 of Return-Form 201 RETURN OF TAXABLE INCOME 24. INCOME FROM PARTNERSHIPS, ESTATES AND TRUSTS (v) Cost or Goods SOLD PLOS TOTAL OTHER BUSINESS DEDUCTIONS (item m plus item u). (w) NET INCOME FROM BUSINESS on PROFESSION (Item e minus item v) ( net loss, enter in red in and subtract) 26. INCOME FROM RENTS AND ROYALTIES (See Instruction 26) 27. PROFIT (OR LOSS) FROM SALE OR EXCHANGE OF STOCKS AND BONDS (Not dealt in as a business and not included in Item 25) See Instruction 27 (a) Sale price (or fair market value of property received in exchange).......... (b) Cost (or fair market value on Jan. 1, 1919, if acquired prior thereto) of stocks and bonds sold or exchanged.. (c) PROFTT on LOSS FROM BALE on EXCHANGE OF STOCKS AND BONDS (item a minus item b) (If loss, enter in red ink and subtract) 28. PROFIT (OR LOSS) FROM SALE OR EXCHANGE OF LANDS, BUILDINGS AND OTHER PROPERTY (Not dealt in as a business and not included in Items 25 or 27) See Instruction 28 If there was more than one sale or exchange during the year, sudmil separate statement in similar form for each sale and enter net profit (or loss) on item K below (Original cost (or fair market value on Jan. 1, 1019, if aequired prior thereto) of property sold or exchanged. Cost of improvements, if any, after Jan. 1, 1919, or after date of purchase, if sequired since. (k) NET PROFIT ON SALE OR EXCHANGE OF LANDS, BUILDINGS, ETC. (item minus item j). (If net loss enter in red ink and subtract) Do not report exempt income here (b). TOTAL INCOME FROM ABOVE SOURCES (om 1 to 29 incluse) 30. 34. CONTRIBUTIONS (See Instruction 34) Submit details on Schedule A-Page 3 of return. This must not exceed 15% of item 33.. 35. NET INCOME SUBJECT TO TAX (Item 83 minus item 34) Heter on page 1 item 18. X X X X SCHEDULE A Page 3 of Return-Form 201 laws of New York State claimed as deductions in Item 34 Statement of Contributions to Charitable, Religious, Scientific and Educational Corporations incorporated by, and Associations organized under the STATE OF NEW YORK-COUNTY OF. I swear (or affirm) that to the best of my knowledge and belief, the statements contained in this return including the accompanying schedules and statements (if any) are true, and that this return claimed herein are allowable under the law and regulations. is a true and complete statement of all income, gains and profits received by or accrued to me (or the person for whom this return is made) during the taxable year 1919, and that all deductions entered or LONG FORM No. 201-PAGE 1 OF INSTRUCTIONS GENERAL INSTRUCTIONS A: HOW TO DECIDE WHETHER OR NOT TO MAKE A RETURN Calculate your net income by filling in page 2 of the return according to instructions. Report all your income from whatever source derived whether from within or without the state of New York. Add the net income of your wife (or husband) and dependent minor children, if any, unless they file separate returns. You should make the return if the total family net income, calculated in accordance with the law and these instructions, equals or exceeds: (a) $1,000, if you are single, or married and not living with your wife (or husband); (b) $2,000, if married and living with your wife (or husband). See Instruction 5 for personal exemptions. Husband and wife should file separate returns (a) if not living together, or (b) if either has a separate income of $10,000 or more. B: ACCRUED OR RECEIVED INCOME You may make your return: a. On a cash basis; that is, reporting income received and expenses, etc., paid, or, b. On an accrual basis; that is, showing income accrued and expenses, etc., incurred or accrued, in accord with the method of accounting regularly employed in keeping your books, provided such method clearly reflects your true income. If you do not keep books on the accrual basis you should report income received and expenses, etc., paid, but in any event, do not fail to include all your income even if it is not entered on your books. If you report income on a cash basis you must include all income constructively received, such as bank interest credited to your account, or interest coupons due and collectible, but not collected. C: PERIOD TO BE COVERED BY RETURN The dates on which the period covered by return began and ended, if other than the calendar year 1919, must be plainly stated at the head of the return. You must report your net income for the calendar year 1919, unless you keep books of account which were regularly closed in 1913 at the end of some month other than December, in which case you should make your return for the fiscal year which ended during the calendar year 1919. If you submit a return for. a fiscal year ending other than December 31, compute your income for the fiscal year ending in 1919, then determine the proportion of such income which the portion of the fiscal year falling within 1919 is of the full fiscal year. The income for the full fiscal year will, therefore, be shown on item 35 on page 2 of the return. Enter on item 12 on page 1 of the return, the proportion as herein stated and compute your tax on such amount, reducing your personal exemption to such portion of the full exemption as the number of months covered by the return bears to twelve months. D: WHEN AND WHERE THE RETURN SHOULD BE FILED AND TAX PAID District offices of the Income Tax Bureau have been established at the following places: Albany, Borough of Manhattan, Borough of Brooklyn, Borough of The Bronx, Jamaica, White Plains, Buffalo, Pochester, Syracuse, Utica, Elmira, Binghamton, and Kingston. You may send or bring your return to any one of the district offices of the Income Tax Bureau; but it is desirable that you send it to the office nearest your residence or place of business. The total tax due must be paid at the time this return is filed and at the office at which the return is filed. The tax is due on March 15, 1920, and if it is not paid on or before that date, penalties will be imposed. You will save time and find it more convenient if you will mail your return to the appropriate district office accompanied by a check, bank draft or money order drawn to the order of the "Comptroller of the State of New York," addressing it to the "N. Y. State Income Tax Bureau" in the city in which you decide to file your return. Checks do not have to be certified. Do not send cash through the mail or pay it in person except at an office of the Income Tax Bureau. If you pay in cash do not fail to secure a cash-register receipt at the time of payment. If you pay by check or money order that will serve as your receipt; but you can secure an additional receipt, on request. E: PENALTIES The law imposes severe penalties for failing to make a return making a false or fraudulent return and for failing to pay the tax when due. SPECIFIC INSTRUCTIONS NOTE: The following instructions are numbered to correspond with the questions of the return, and relate to the corresponding questions and items therein. CONCERNING PAGE 1 OF RETURN INSTRUCTION 5-PERSONAL EXEMP- INSTRUCTION 8-NON-TAXABLE IN- beritance, (but the income derived therefrom TION: (a) If during the taxable year you were married and living with your wife (or busband) or, if not married, were the head of a family, subtract from your net income, before calculating your tax, a family exemption of $2,000, plus $200 for each per son under eighteen years of age (or mentally or physically defective) who received his or her chief support from you during the taxable year. If husband and wife make separate returns, this exemption may be claimed by either (but not by both) or apportioned between them. (b) If you did not live with wife (or husband) or were not married and if you were not the head of a family you are entitled to a personal exemption of $1,000 plus $200 for each person under eighteen years of age (or mentally or physically defective) who received bis or her chief support from you during the taxable year. (c) The personal or family exemption must be reported on item 12 of the return and must be supported by answers to question 5. (d) A "head of a family" is a person who is the chief support of one or more persons living in his household, who are closely re lated to him, or her, by blood, marriage or adoption. COME: must be included in gross income, subject to the provisions of the law). (g) Proceeds of life insurance polleles and contracts paid on the death of the insured, to individual beneficiaries or the estate of the insured (but the income therefrom men b reported); but the amount by which the tatal received on surrender or expiration of policies during the life of the intured exceeds the total premiums paid, is income and must be reported in Item 29. (h) The amount received from accident and health insurance and under Workmen's Com pensation Acts and the amount of any dam ages received by suit or agreement on semant of personal injuries or sickness, and prasioES received because of personal injuries or sick Dess. NOTE: The following instructions are numbered to correspond with the questions of the return, and relate to the corresponding questionɔ and items INSTRUCTION 21-INCOME FROM (a) Report personal service compensation received by you or your wife (or husband) or dependent minor child from any one em CONCERNING PAGE 2 OF RETURN (c) Business service, such as transportation, (d) A profession such as medicine, law or you the income as though the rent had been paid in cash. Repairs, depreciation and depletion: See Instruction 25 above. Tases: Report taxes on rented or leased taxes for local property. Do not include benefits of a kind tending to increase the value of the property assessed. ployer, of $1,000 or more during the year, port your salary in item 25, any income in or continued to purchase or carry the prop on a separate line togethe. with the occupation or position and the employers' name and address. All other income from personal services of less than $1,000 from any one source should be combined and reported on a single line. (b) Do not include in this item compensatlon earned prior to January 1, 1919, even if received on or after that date. In general, report item 23. Income received from the sale of lands, buildings, equipment, stocks, bonds and other reported under items 27 or 28. INSTRUCTION 22-INCOME FROM IN- property not dealt in as a business should be (a) Report bere all dividends including those from personal service corporations received in 1919 whether paid in cash, stock or other property except dividends received in 1910 which were declared payable to steckholders of record in 1918. (b) When dividends are paid in property or stock of the corporation the fair market value of property or stock of the corporation at the time made payable should be reported and a statement should be attached to the return explaining the valuation placed on such dividends. (c) The time when the profite distributed in dividends were earned by the corporation is of no significance under the State Income Tax Income Accrued or Received: See Instrue- Income from Professions: In reporting in- OTHER BUSINESS DEDUCTIONS Item Salaries, etc.: Do not deduct salary or wages for your own services or services of your family unless these items are included as income in item 21, or reported in a separate return, and do not include any withdrawal of profits. Interest: Do not deduct Interest, incurred erty. Deductible interest should be claimed specifically under item 31-a. INSTRUCTION 27-PROFIT (OR LOSS) FROM THE SALE OR EXCHANGE Bale price: State the actual consideration or price, or in the case of an exchange, the fair market value of the property received. Report the fair market value at time of gift of securities given to others. Cost: Enter the original cost of the preperty, or if it was acquired before January 1, 1919, the fair market value on that date. For the manner of determining the fair market value on January 1, 1919, ase regulations. INSTRUCTION 28-PROFIT (OR LOSS) FROM THE SALE OR EXCHANGE Sale price: State the actral consideration er price, or in the case of an exchange, the fair market value of the property received. Report fair market value at time of gift of lands, etc., given to others Cost: Enter in Item F the cost of the property, or if it was acquired before January 1, 1919, its fair market value on that date. Depreciation: See Instruction 25 above. Law that law differing somewhat in that to be claimed specifically as a deduction in INSTRUCTION 31-GENERAL DEDUC respect from the Federal Income Tax Law. AND (a) If you received a salary from a partnership in addition to your share of the profits, report such salary in item 21. ас Interest: Do not include here interest on -Tares: Do not include taxes for here: TIONS: Interest on Indebtedness: Show the total in terest paid by you whether on business or personal indebtedness. If you have no nontaxable income you may deduct all interest paid by you. If you have non-taxable inReport entitled to deduct only a pro come you are (a) Minor repairs required to keep property portion of the interest (b) Report your distributive share (whether in usable condition; est paid, to be determined distributed or not) in the net income of the (b) A reasonable allowance for exhaustion, as follows: To your gross taxable income add partnership, during the partnership's your non-taxable income. That will give you your total gross" jucome. You are entitled counting period (whether fiscal or calendar wear and tear to the extent not offset by repairs, replacements or losses claimed as deto deduct such a proportion of your interest year) which during your taxable year ductions in this return: ended (whether fiscal or calendar year). (e) Any claim for depletion of mines, oll paid which your gross taxable income bears (e) If the scal year of the partnership beto your total gross income. and gas wells or timber lands. gan la 1918 and ended in 1919, you should Do not claim depreciation for articles that report that proportion of Your distributive share of the net income of the partnership, have been taken into your inventory. The amount claimed for depreciation should which the portion of the partnership's acaccounting counting period falling within your taxable method and must be based on the cost of the Approved year, bears to the full year. property (or its value on January 1, 1979, INSTRUCTION FROM acquired before that date). |