(1) Name and address of the lessor and the, lessee. (2) Date lease was effective (3) Date of expiration of lease. (4) Royalty rate (5) Whether bonus was in cash or property (6) Any unusual terms of lease 2. Date of disposal of property 3. Manner of disposal of property (sale, trade, gift, etc.)... 4. (a) Amount received in cash, stock, bonds, and other considerations (to be detailed) (b) Par value of the stock, bonds, or other obligations (to be detailed) (c) Actual cash value of the stock, bonds, or other considerations on the date of disposal of the property (to be detailed) (d) How were these cash values established. (e) Name and address of the party determining or establishing these values 5. (a) Name and address of the party to whom the property was transferred (b) The connection, if any, between the party or parties disposing of the property and the party making the purchase or with any of his associates or associated companies 6. In disposing of the property, was the price at which the property was sold fixed for the purpose of a bona fide purchase and sale by which the property passed to an owner in fact as well as in form different from the vendor? No fictitious for inflated sale price will be permitted to form (Yes) or (No). 7. Give any evidence, facts, statements, etc., which you desire to have considered as proof in the determination of the bona fide character of the transaction. SCHEDULE VIII. FOR COMPUTATION OF PROFIT OR LOSS FROM SALE OF CAPITAL ASSETS. Note. This page is not to be filled out until the questions in the schedules called for herein have been answered and the computations called for therein made. With respect to each property disposed of during the year you are requested to furnish the following information: 1. Description of property. . . . . 2. Date of disposal of property 3. Manner of disposal of the property (sale, trade, gift, etc.) (d) Name and address of the party determining this value.. 8. Cash value of all considerations received for property..$.. 9. Value of property as of March 1, 1913, or its cost if acquired subsequent to that date. (See Schedule I, question 8 (g), or Schedule II, question 13).. $...... ..... 10. Total of all additions to capital returnable through depletion added subsequent to March 1, 1913, or subsequent to date of acquisition if property acquired subsequent to March 1, 1913. (See Schedule V, question 5 (b).) $. 11. Total of all additions to capital returnable through depreciation added subsequent to March 1, 1913, or subsequent to date of acquisition if acquired subsequent to March 1, 1913. (See Schedule VI, question 3 (b).) $... 12. Gross value of property as of date of disposition. (Total 9, 10, and 11.) $.. 13. Total depletion sustained during period from March 1, 1913, or from date of acquisition, if acquired subsequent to March 1, 1913, to date of disposities of property. (See Schedule V, question 5 (g).). . . . . . . . . . . $. . . 14. Total depreciation sustained during period from March 1, 1913, or from date of acquisition, if acquired subsequent to March 1, 1913, to date of disposition of property. (See Schedule VI, question 3 (c).)...$.. 15. Net value of property as of date of disposition of property (12 less the sum of 13 and 14) .$. 16. Profit or loss-sustained from disposition of property (difference between 8 and 15) .... SCHEDULE IX. FOR PROVING THAT THE PRINCIPAL VALUE HAS BEEN DEMONSTRATED BY PROSPECTING OR EXPLORATION AND DISCOVERY WORK DONE BY THE TAXPAYERS. In the case of the bona fide sale of mineral properties, or any interest therein, in order to take advantage of the clause in Section 211-b of the Revenue Act of 1918, which limits the portion of the tax imposed by said Act attributable to such sale to a sum not to exceed twenty per centum of the selling price of such property or interest, you will be required to furnish the following, under oath, in order to satisfy the Commissioner that the principal value of the property has been demonstrated by prospecting or exploration and discovery work done by the taxpayer: 1. Description of the property. (a) Give a legal description of the property, including its location in section (or farm), township, range, county, and state.. (b) Are you the sole owner?.. (Yes) or (No). If not, give vour ownership interest therein, and the names and addresses and ownership interest of each of the other joint owners. (c) Is the property a leasehold?. ing information: If so, furnish the follow (Yes) or (No). (1) Name and address of the lessor and the lessee.. 2. The value of the property immediately prior to the date of beginning prospecting or exploration and discovery work done by you leading to the discovery claimed. (This value must be established through filling out Schedule II, as of the specified date immediately prior to the discovery.) 3. The proof that a discovery has been made. (To furnish this proof you will be required to fill out Schedule IV.) 4. The value of the property at any specified date within a reasonable time after the discovery was made. (This value may be established by filling out Schedule II as of the specified date.) 5. Give any evidence, facts, statements, etc., which you desire to have con sidered as showing that the principal value of the property has been demon strated by prospecting or exploration and discovery work done by you. I swear (or affirm) that the answers to the questions herein, including statements and figures entered in the accompanying schedules and in any additiona statements and schedules attached hereto, are, to my best knowledge ani belief, true and correct in each and every particular. (Signature of individual or agent.) Sworn to and subscribed before me this..........day of... (Year.) (Signature.) (Month.) We, the undersigned, general officers of (Name of corporation, partnership, or association.) being severally duly sworn, each for himself deposes and says that the answers to the questions herein, including statements and figures entered in the accompanying schedules and in any additional statements and schedules attached hereto, are, to his best knowledge and belief, true and correct in each and every particular. GENERAL FOREST INDUSTRIES QUESTIONNAIRE. GENERAL INFORMATION FORM T. 1. The taxpayer in this case is an: Individual........ Partnership.... ..... Corporation. (Place "Yes" after proper one.) 2. (Indicate relation to other companies, if any.) 3. Date of original organization.. 6. Books located at 7. Manufacturing plants located at. 8. Income tax return filed in.. (City.) (Location of Internal Revenue Collector's office.) (State.) 9. President of corporation. (Name.) 10. Manager of corporation.. (Name.) (Address.) (Address.) 11. If forest industry part of business is subsidiary to principal business of corporation, give also name and address of man managing forest industry portion of business. (Name.) TIMBERLAND BLOCKS (Address.) 12. Definition: The block is- An operation unit which includes all of the taxpayer's timber which would logically go to a single given point of manufacture (or to one of a group of interchangeable points of manufacture); however, in those cases in which the point of manufacture is at a considerable distance, or in which the logs will probably be sold in a log market, as on Puget Sound, the block may be a logging unit which includes all of the taxpayer's timber which would logically be removed by a single logging development. (The " grouping of species'' within a given block, which may be especially authorized by the Commissioner, is discussed under number 167.) Since it is required for depletion purposes that there be carried on the books of the taxpayer a separate account for each block of timber, or for each species or group of species valued separately, the block should, for simplicity 923 |