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STATISTICS OF INCOME . . . 1957 -a'1
Individual
INCOME TAX RETURNS
tSis«ia£ss*
for 1957
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U. S. TREASURY DEPARTMENT • INTERNAL REVENUE SERVICE
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TATISTICS OF INCOME
Publications in Preparation
dOrpOrfttlOU income Tax Returns with accounting periods ended July 1957- June 1958, Preliminary
Summary of income statement Eind balance sheet items, tax, dividends paid; classified by major industrial groups.
Individual Income Tax Returns for 1958, Preliminary
Adjusted gross income, taxable income, income tax liability, sources of income, exemptions, tax credits, classified by size of adjusted gross income. Selected sources of income by States.
Fiduciary income Tax Returns, Gift Tax Returns, and EstatC Tax Returns, tiled during 1959
FIDUCIARY RETURNS: Sources of income, deductions, exemption, and tax. Classifications for income of estate or trust (also bank administered trust), by size of total income, size of taxable income, types of tax, and States. His- torical summary 1949-58.
GIFT TAX RETURNS: Total gifts, exclusions, deductions, specific exemption, and tax. Classifications by type of gifts, size of taxable gift and total gifts, tax status, identical donors, and consent status.
ESTATE TAX RETURNS: Gross estate by type of property, deductions, specific exemption, tax, and tax credits. Classifications for tax status, size of gross estate and net estate before exempticu, method of valuation, marital status, age, sex, and States. Historical summary 1950-59.
Recent Publications
Corporation Income Tax Returns with accounting periods ernkd July 1956- Jane
1957 (206 pp., $1.25) Fiduciary Income Tax Returns for 1956 (48 pp., 40^)
Estate and Gift Tax Returns filed during the calendar year 1957 (39 pp., 35^) Individual Income Tax Returns for 1956 (119 pp., 65<^)
Partnership Returns for income years ended July 1953- Jane 1954 (62 pp., 45^) Farmers' Cooperative Income Tax Returns for 1953 (42 pp., 40^)
Statistics of Income publications are for sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C.
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STATrSTICS OF INCOME . . . 1958
Individual
INCOME TAX RETURNS
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for 1958
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U. S. TREASURY DEPARTMENT • INTERNAL REVENUE SERVICE
Statistics of Income
1958
Individual
INCOME TAX RETURNS
for 1958
Prepared under the direction of the Commissioner oj Internal Revenue by the Statistics Division
U. S. TREASURY DEPARTMENT
Internal Revenue Service • Publication No. 79 (9-60)
Boston Public Library Superintendent Of Docuinents
NOV] 5 IS HO DEPOSITORY
UNITED STATKS
GOVKKNiMKNT PHINTING OFFICE
WASHINGTON : 1960
¥ov sale by the Superintendent of Documents, U.S. Government Printinp; Office, Washington 25, D.C. - Price 75 cents (paper cover)
LETTER OF TRANSMITTAL
Treasury Department, Office of Commissioner of Internal Revenue,
Washington, D. C, August 25, 1960.
Sir: I am submitting this report, Stat ist ics of Income— 1958, Individual Income Tax Returns, under the provisions of section 6108 of the Internal Revenue Code of 1954-, which requires preparation and pub- lication annually of statistics reasonably available with respect to the operation of income tax laws. These statistics relate to individual income tax returns. Forms 104-0 and 104-OA, for the income year 1958, which were filed primarily during the calendar year 1959.
The tabulations show classifications of taxpayers and of income, deductions, and exemptions. Special emphasis has been given to itemized deductions and also to Form 1040A returns with the extended income range covering earned income under $10,000. Sources of income and other data are shown by size of adjusted gross income. Also, there is information relative to taxable income, types of taxes, tax credits, tax withheld, and taxpayments . The major sources of income are presented for each State and for the two Standard Metropolitan Areas of Detroit and Pittsburgh.
Respectfully,
Dana Latham, Commissioner of Internal Revenue.
Honorable Robert B. Anderson, Secretary of the Treasury .
CONTENTS
INDIVIDUAL INCOME TAX RETURNS
Page
Number of returns, income, and taxes 3
Dividends 3
Excludable sick pay 5
Capital gain and losses 5
Itemized nonbusiness deductions 6
Contr ibut ions 6
Medical deduction and expense 7
Total itemized deductions 7
Marital status of taxpayer 8
Exempt ions 8
Form 1040A, Individual Income Tax Returns 10
Sole Proprietorships 12
Sources of data and description of sample 14
Sources of data 14
Description of sample 15
Explanation of classifications and terms 17
Classifications 17
Sources comprising adjusted gross income 18
Itemized nonbusiness deductions 21
Exempt ions 22
Measures of individual income 22
Tax items 23
Basic tables, 1958:
1. Number of returns, adjusted gross Income, taxable income, and income tax,
by adjusted gross income classes and classes cumulated 27
2. Sources of income and loss by returns with standard or itemized deduc-
t ions 28
'3. Sources of income and loss and nonbusiness deductions, by adjusted gross
income classes 29
4. Sources of income and loss, exemptions, taxable income, and tax items —
all returns, joint returns, and returns of single persons not head of household or surviving spouse, by adjusted gross income classes 30
5. Returns with itemized deductions — adjusted gross income, itemized deduc-
tions, exemptions, taxable income, and tax items, by adjusted gross income classes 42
6. Number of returns for selected sources of income or loss by size of
source 4,4
7. Number of returns for specified nonbusiness deductions by size of deduc-
tion 48
8. Returns with taxable income — taxable income, income tax, and tax credits,
by taxable income classes for applicable tax rates 50
9. Returns with income tax — adjusted gross income, taxable income, income
tax, average tax, and effective tax rate, by adjusted gross income classes and types of income tax 52
10. Adjusted gross income, exemptions, taxable income, and income tax — all
returns, returns with standard deduction, and returns with itemized deductions, by adjusted gross income classes and by marital status of taxpayer 53
11. Number of returns by adjusted gross income classes, by total number of
exemptions, and by marital status of taxpayer 59
12. Capital gains and losses, short- and long-term, and capital loss carry-
over, by adjusted gross income classes 62
13. Returns with self -employment tax — adjusted gross income, income tax, and
self-employment tax, by adjusted gross income classes 64
14. Returns with self-employment tax — adjusted gross income and self-employ-
ment tax, by States and Territories 65
15. Selected sources of income, adjusted gross income, taxable income, and
income tax, by States and Territories 66
16. Adjusted gross income and income tax, by adjusted gross income classes
and by States and Territories 67
VI CONTENTS
Historical tables, 1949-1958: Page
17. Number of retiirns by major characteristics, adjusted gross income and
deficit, taxable income, and tax 72
18. Returns with income tax — number, adjusted gross income, and average tax,
by adjusted gross income classes 73
19 . Sources of income by type 7,4
20. Itemized deductions on returns with adjusted gross income, by type 74
21. Selected sources of income by adjusted gross income classes 75
22. Niimber of returns, adjusted gross income, and income tax, by States and
Territories 7g
SYNOPSIS OF LAWS
A. Requirement for filing individual income tax returns, exemption allowances,
and minimum and maximum tax rates, 1949-58 83
B. Requirement for filing the self -employment tax schedule and self -employment
tax rates, 1951-58 33
FACSIMILES OF INDIVIDUAL INCOME TAX RETURNS
Form 1040, Individual Income Tax Retiirn 87
Schedule C IO7
Schedule D Ill
Schedule. F II3
Form 1040A, Individual Income Tax Return 119
INDEX Alphabetical index 12^;
Individual
Income Tax
Returns
INDIVIDUAL INCOME TAX RETURNS FOR 1958
statistics presented in this report were compiled from a sample representing all individual income tax returns filed for the income year 1958. The number of returns for 1958 was 59.1 million, about lAO thousand fewer than for the previous year. This decrease in the number of returns reflects the eco- nomic recession of 1957-58 and the accompanying drop in employment .
There were a few changes in the tax laws resulting from the "Technical Amendments Act of 1958" and the "Small Business Tax Revision Act of 1958" which affect the comparability of the detailed statistics contained in this report with similar data for 1957. These changes relate to: (1) Liberalization of the medical deduction for disabled persons aged 65 and over, (2) Additional first year depreciation, (3) Uninsured casualty and theft losses of business property and capital assets held more than 6 months for the production of income, (4) Stockholders share of income from a small business corporation that elected not to be taxed as a corporation, and (5) Allowance of exemption for an alien, adopted child living with a United States citizen residing abroad. These changes are noted in the text description of the item affected.
No revisions of data published in the Preliminary Report for 1958 were found necessary in compiling the tables for this report.
NUMBER OF RETURNS, INCOME, AND TAXES
Of the 59.1 million individual income tax returns for 1958,45.7 million were taxable and 13. <+ million nontaxable. Compared with the previous year, the number of taxable returns declined by 1.2 million, while the number of nontaxable returns increased nearly one-half million.
Even though there were fewer returns for 1958, adjusted gross income increased to a new high of -.2 billion, about $83'4 million above that for
T«ble A.— NUMBER OF RETURNS, INCOME, AND TAXES; 1958 AND 1957
Number of returns, total
Taxable
Nontaxable
Adjusted gross income (less deficit) Sources of income;
Salaries and wages
Dividends
Interest
Business or profession
Partnership
Sales of capital assets
Rents and royalties
Other
Income tax after credits
Self-employment tax
59,035,182 45,652,13* 13,433,048
59,825,121 46,865,315 12,959,806
-739,939
-1,213,181
■1-473,242
281,154
227,551 8,741 3,659 20,674 9,232 4,330
280,321
228,077 9,124 3,319 20,339 9,359
1957. However, not every source showed a rise over the previous year. Salaries and wages, dividends, partnership profits, and rents and royalties de- clined, while interest, business profit, and sales of capital assets, all showed a rise for 1958. The most noticeable increase occurred in gain from sales of capital assets with a net increase over 1957 of $8-44 million. Salaries and wages after excludable sick pay were $526 million less than for 1957.
Taxable income of $14-9.3 billion was slightly below the previous year and, correspondingly, the income tax after credits of $34.3 billion on the 1958 returns was somewhat below the previous year's income tax. The self-employment tax of $589 million was $8 million higher than the 1957 self-employment tax, reflecting the increased business profits for the current year.
Changes between the two years, 1958 and 1957, for the most significant items are presented in the text table A.
Chart 1 gives the components of adjusted gross income for 1958, with salaries and wages forming 81 percent, business profit 7 percent, and partnership profit and dividend income each 3 percent, of the total .
CliatI 1. COMPONENTS OF ADIUSTED GROSS INCOME, 1958
Poftnership Prol.l
DIVIDENDS
Domestic sind foreign dividends received during the income year 1958 by individuals filing Form 1040 were obtained from data in Schedule A, Income from Dividends. Dividend receipts totaled $9.1 billion which was $374.3 million below total receipts for the previous year. At least some of this decrease can be attributed to the more liberal use of the 1040A return. For the first time, this return could be used by wage earners with adjusted gross income of $5,000 under $10,000, and the maximum amount of
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Tal.li- 1).- |
-nlVIIlKNDS KLKilliLK \ |
>^D INKI.KIllil.K FOR EXCLDSION AND DIVIDENDS ELKilliI.E FDR T\\ CHEDIT. BY ADJUSTF.D C |
KOSS INCOME ('L \S.SE.S |
|||||||||||||
Dividends in adjusted gross income |
Domestic and foreign dividends received |
Dividend exclusions from gross income |
Dividends eligible for tax credit |
Tax credit for dividends received |
||||||||||||
Adjusted gross income classes |
Number of |
Amount |
Total |
Not eligible for exclusions |
Eligible for exclusions |
Number of |
Amount f Thoit^ani! |
Number of retum.-- |
Amount |
Number of |
Amount •loll,,,) |
|||||
Number of |
Amount |
Number of |
Amount |
Number of |
Amount |
|||||||||||
(1) |
(21 |
(3) |
(4) |
(5) |
(6) |
(7) |
(3) |
(9) |
(10) |
(U) |
(12) |
(13) |
(14) |
|||
Taxable returns: |
26,051 47,512 62,358 85,304 106,580 124,915 121,591 151,309 144,876 310,608 303,775 262,399 241,159 199,831 634,429 285,009 154,483 258,686 79,376 12,733 3,641 3,788 513 227 |
10,276 23,489 31,324 54,673 66,319 90,672 96,230 116,596 103,279 221,659 246,132 228,591 215,540 185,730 894,658 675,706 533,476 1,486.956 1,322,213 499,127 247,441 483,120 170,958 252,722 |
27,743 54,695 74,344 100,358 ^125,682 145,992 150,628 192,124 182,025 '397,*173 402,342 350,894 313,739 260,781 787,^13 321,414 167,528 272,309 80,701 12,810 3,643 3,792 515 227 |
''ll,586 26,016 34,645 59,450 72,^49 93,401 104,119 126, 592 112,970 ■■ 244,043 269,377 249,820 235,295 202,563 V49)'oi7 699,533 546,282 1,508,743 1,328,965 '560,2^9 247,756 483,445 171,000 252,739 |
(M 3,404 7,494 5,798 8,893 12,674 8,903 16,718 16,035 29,790 29,208 25,347 21,231 14,328 57,327 30,311 19,408 42,211 19,827 4,101 1,389 1,631 242 106 |
(') 351 1,372 1,006 651 1,098 2,074 2,392 1,478 5,013 3,277 6,150 3,458 1,281 16,081 11,189 10,443 33,237 23,103 9,761 6,022 10,867 3,134 3,709 |
27,395 53,335 70,249 ^97,618 "■ 121,943 137,086 145,142 183,904 173,823 ^383'; 15 5 387,169 340,270 303,811 256, ■342 775,331 316,510 165,503 269,830 30,318 .1 -,■ , 12,737 3,633 3,731 512 227 |
11,442 25,665 32,773 53,444 '71,«3 97,303 102,045 124,200 111,492 2'39,'035 266,100 243,670 231,837 201,282 ~93"5,'9"66 683,344 535,839 1,475,506 1,300,857 "490,478 241,734 472, 578 167,366 249,030 |
27,395 53,335 70,249 97,280 121,266 136,405 144,794 133,227 173,823 383,155 385,138 333,916 303,473 254,649 772,365 316,336 165,399 269,794 30,312 12,787 3,633 3,781 512 227 |
1,310 2,527 3,321 4,777 6,330 7,729 7,839 9,996 9,691 22,339 23,245 21,229 19,755 16,833 54,389 23,827 12,806 21,737 6,752 1,112 315 325 42 17 |
25,702 45,318 57,922 82,563 102,505 115,333 116,109 142,219 134,643 292,140 291,227 249,741 229,202 192,672 614,916 273,335 151,518 255,652 78,908 12,700 3,631 3,776 510 227 |
10,132 23,138 29,452 53,667_ 65,668 39,574 94,156 114,204 101,801 216,646 242,855 222,441 212,082 134,449 873, 577 664,517 523,033 1,453,719 1,294,105 489,366 241,419 472,253 167,324 249,013- |
19,218 33,058 46,302 67,915 81,293- 90,165 92,866 103,630 107,752 225,613 233,755 201,236 182,467 156,780 529,113 253,749 141,514 246,259 77,970 12,606 3,621 3,770 503 227 |
354; 386 687 1,231 1,742 2,435 2,706 3,181 3.193 7,199 7,429 7,485 7,484 6,321 31,533 24,421 19,231 54,806 47,986 17,646 3,449 15,956 5,154 6,972 |
||
n $1 $2 $2 $3 *3 $4 «.5 $6 $7 $8 $9 $1 $1 $2 $2 $5 $1 $1 $2 $5t |
000 under $1 500 under $2 000 under $2 500 under $3 000 under $3 500 under $4 000 under $4 500 under $5 000 under $6 000 under $7 000 under $8 000 under $9 000 under $1 ,000 under $ ,000 under $ ,000 under $ ,000 under $ ,000 under $ XD.OOO under )0,000 under »,000 under 0,000 under ! |
500 000 500 000 500 000 500 000 000 000 ooo 000 ,000 5,000 0,000 5,000 10,000 00,000 150,000 200,000 i500,000 .1,000,000.... |
||||||||||||||
Total taxable returns |
3,626,655 |
8,256,887 |
4,429,072 |
8,535,280 |
378,739 |
162,796 |
4,307,724 |
8,372,484 |
4,298,751 |
278, 393 |
3,477,969 |
3,094,091 |
2,916,437 |
233,757 |
||
Nont No Unc |
utable returns: adjusted gross income |
27,788 54,292 76,050 116,923 98,143 75,091 61,831 28,050 24,541 15,206 10,253 20,194 |
37,882 13,207 23,580 53,133 61,970 52,738 55,709 29,979 32,592 16,072 10,969 95,844 |
33,384 68,625 87,413 136,702 110,102 85,679 66,629 33,180 26,24S 15,552 11,968 21,259 |
39,715 16,274 27,749 60,449 68,112 57,784 59,740 32,035 34,341 17,280 11,721 97,286 |
5,788 6,874 10,610 10,222 8,172 9,207 3,772 3,422 Y 7,109 |
476 983 2,114 2,050 1,453 1,667 780 316 4,130 |
30,525 63,121 79,529 131.243 105,663 80,386 64,211 31,807 f 24,880 J 15,552 1 10,948 20,430 |
39,239 15,291 25,635 58, 399 66,659 56,117 58,960 31,719 32,798 17,039 11,449 95,212 |
30,182 61,768 77,836 127,854 104,308 79,867 63,534 31,807 24,880 15,552 10,943 20,430 |
1,833 3,067 4,169 7,316 6,142 5,046 4,031 2,056 1,749 1,208 752 1,442 |
23,900 43,449 67,151 110,429 93,027 69,619 59,076 26,676 23,173 15,204 9,232 19,016 |
37,406 12,224 21,466 51,083 60,517 51,071 54,929 29,663 31,049 15,831 10,697 93,770 |
5,764 21,044 21,535 21,717 7,838 9,835 6,823 (M 4,422 |
- |
|
$1,000 under tl $1,500 under $2 $2,000 under $2 $2,500 under $3 $3,000 under $3 $3,500 under $4 $4,000 under $4 |
500 |
31 312 477 743 202 347 206 |
||||||||||||||
500 |
||||||||||||||||
500 |
||||||||||||||||
500 |
||||||||||||||||
$5 |
152 |
|||||||||||||||
Total nontaxable returns... |
603,362 |
483,675 |
696,741 |
522,486 |
65,176 |
13,969 |
658,795 |
508,517 |
648,966 |
38,311 |
564,952 |
469,706 |
103,124 |
2,616 |
||
Grand total |
4,235,017 |
8,740,562 |
5,125,811 |
9,057,766 |
443,915 |
176,765 |
4,966,519 |
8,881,001 |
4,947,717 |
317,204 |
4,042,921 |
8,563,797 |
3,019,561 |
286,373 |
||
Retu Retu Retu |
■ns under $5,C ■ns $5,000 unc ■ns $10,000 o |
no er $10,000... |
1,459,164 1,339,538 1,436,315 |
980,689 1,141,067 6,618,806 |
1,729,073 1,742,727 1,654,013 |
1,071,628 1,245,722 6,740,416 |
144,462 121,271 178,132 |
22,961 19,984 133,320 |
1,648,860 1,687,857 1,629,802 |
1,043,667 1,225,738 6,606,596 |
1,636,310 1,632,441 1,628,966 |
90,939 104,655 121,610 |
1,368,750 1,270,712 1,403,459 |
957,728 1,121,083 6,484,986 |
745,951 1,003,921 1,269,639 |
18,149 36,057 232,167 |
showing separately. However, the grand
eludes data dele
other income, which included interest and dividends, was raised from $100 to $200 for all 10<40A returns. These changes allowed more taxpayers with larger amounts of dividend income in 1958 to file the lO^OA return. Since dividend income on Form lOAOk is not identified as such, it is not included in the divi- dend statistics. Taxpayers affected by these changes had filed on Form lOA-O for 1957 and the dividends reported were included in the dividend data for 1957.
Of the total dividends received, $317.2 million were excluded from adjusted gross incomes reported on Form 1040, under the provision that the first $50 of domestic dividends qualifying for the exclusion be eliminated from gross income. After this exclu- sion, $8.7 billion foreign and domestic dividends remained to be included in adjusted gross income for 1958.
Text table B presents the details reported by the taxpayer in Schedule A of the Form 10<+0. This table shows, by adjusted gross income classes, dividends in adjusted gross income, total foreign and domestic dividends received, dividends eligible and not eli- gible for exclusion, exclusions, dividends eligible for tax credit, and the frequency of returns with those items.
Dividends not eligible for exclusion were those received from life or mutual insurance companies.
China Trade Act corporations, tax-exempt organiza- tions, exempt farmers' cooperatives, certain corpo- rations doing business in possessions of the United States, and regulated investment companies unless specifically designated by the company to be taken into account for exclusion and tax credit. The so- called dividends from mutual and cooperative banks and savings and loan or building and loan associations were reported as interest for income tax purposes and therefore not eligible.
Dividends eligible for the exclusion were those from fully taxable qualifying domestic corporations, such as the regular industrial, mercantile, and com- mercial corporations, whether received directly or through shares of fiduciary income or untaxed part- nership profit. The exclusion applied to dividends on nonwithdrawal capital stock of building and loan associations or similar organizations, and the true dividends from regulated investment companies. Also eligible for the dividend exclusion were the distri- butions of entrepreneurial and partnership enter- prises that elected to be taxed as a corporation.
Exclusion of the first $50 of qualifying dividends was allowed in determining the amount of dividends to be included in gross income. If husband and wife filed jointly, each was entitled to apply the $50 exclusion against his respective qualifying divi-
INDIVIDUAL INCOME TAX RETURNS FOR 1958
dends . When a taxpayer received less than $50 of qualifying dividends, the exclusion equaled the amount received.
Dividends eligible for tax credit were the quali- fying dividends in adjusted gross income, that is, dividends eligible for exclusion less the applicable dividend exclusion.
Less than one-half million returns showed approx- imately $177 million of foreign and other dividends not eligible for exclusion or for tax credit. Divi- dends eligible for exclusion were reported on nearly 5 million returns and practically all of them showed that the exclusion was claimed.
Four million returns had dividends eligible for tax credit and a tax credit for dividends received was claimed on 3 million returns, practically all of which were taxable returns.
tions on the exclusion of benefits attributable to the employer's contributions. The employer-provided wage benefits were excludable at a rate not exceed- ing $100 per week.
Excludable sick pay, claimed only on Form lO'+O returns, amounted to $622.7 million for 1958, which was $'+8.6 million above a similar deduction for 1957. The sick pay deduction for 1958 was 6 percent of the $10.3 billion wages from which it was deducted. Sick pay was reported on 1.5 million returns repre- senting over K percent of the Form 1040 returns with salaries and wages.
Text table C, for 1958 returns showing excludable sick pay, gives the number of returns with this ex- clusion, the amount of salaries and wages remaining after the exclusion, and the excludable sick pay.
CAPITAL GAINS AND LOSSES
EXCLUDABLE SICK PAY
The Internal Revenue Code allows individuals to exclude from income amounts received under a wage continuation plan for the period of absence on account of sickness or personal injury. If both employer and employee contributed to the plan, bene- fits attributable to the employee's contributions were excluded without limit, but there were limita-
Tabls- C— EXCLUDiBLE SICK P4V BY ADJUSTED GROSS INCOME CLASSES
Taxable returns:
$600 under $1,000
$1,000 under $1,500. $1,500 under $2,000. $2,000 under $2,500.
$2,500 under $3,000. $3,000 under $3,500. $3,500 under $4,000. $4,000 under $4,500.
$10,00C.
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... Jl50,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total taxable
Under $t00
$600 under $1,000
$1,000 under $1,500. $1,500 under $2,000. $2,000 under $2,500.,
$2,500 under $3,000. $3,000 under $3,500. $3,500 under $4,000. $4,000 under $4,500. ?4,500 under $5,000.
,000
Total nontaxable returns.
Grand total.
Returns with excludable
5,415
9,909 8,591
16,436
23,832
72,779
132,884
242,653
311,482
411,935
519,499
1,198,987
1,145,451
1,083,771
940,676
853,876
1,509,630 351,215 166,792 303,296 147,076
28,983 11,546 13,945 2,701 330
l,895,o43 5,248,576 2,536,325
15,437
22,924 26,718 25,953 36,678 37,913 75,714 65,682 61,299 37,875 32,910
56,371 12,108 5,382 9,641
3,431 419
10,956 10, 6U 7,185 8,865 13,407
259,127 275,619 87,951
Capital gains of $4.9 billion were reported in adjusted gross income for 1958, on 3.5 million re- turns. However, only 50 percent of net long-term gain in excess of net short-term loss was taken into account for this purpose. The gain in adjusted gross income was 18 percent above that for 1957.
A capital loss deduction was taken on 921 thousand returns in computing adjusted gross income for 1958. Both the entire capital loss of $2 billion before statutory limitation and the deduction after limi- tation of $549 million were somewhat less than last year's losses. More than 27 percent of the entire capital loss before limitation was used in computing adjusted gross income for 1958.
Comparison of capital gain and loss data for 1958 and 1957 is shown in text table D below.
Table D.— C\PITAL GAINS AND LOSSES: 1956 AND 1957
(Taxable and nontaxable returns]
Capital gains in adjusted groSG income |
Capital losse.-i |
||||
Number of |
Amount |
Number of |
Amount (Thousand dol'ars) |
||
Before limitation |
After limitation |
||||
(1) |
(2) |
(3) |
(4) |
(5) |
|
3,4o9,064 2,936,564 |
4,879,114 4,128,228 |
920,578 1,038,203 |
1,997,682 2,036,866 |
549,110 |
|
W.2,695 |
|||||
DiTerence |
+532,500 |
+750, 83t |
-117,630 |
-39,184 |
-93,585 |
:xt for "Description of Sample. " ,e variability is too large to w eludes data deleted for this re;
Analysis of the returns with a capital loss used in computing adjusted gross income for 1958, shown in text table E, gives information as to the amount of capital loss available for carryover into the next year. Returns with a capital loss deduction are presented in two categories: (1) returns with capital loss completely deducted, that is, the cap- ital loss was small enough to be within the statu- tory limitation, and (2) returns with capital loss partially deducted, that is, the capital loss was so large that the deduction was limited to an amount equal to the smaller of (a) taxable income (adjusted gross income if tax table was used) computed with- out regard to capital gains and losses or personal exemptions, or (b) $1,000. The unused capital loss resulting from the limitation gives an indication of the amount of capital loss which can be carried into the subsequent year as a short-term capital loss.
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Number of |
Net loss |
Approximate |
||
Returns with- |
Before limitation |
After limitation |
carryover into 1959 |
|
(1) |
(2) |
(3) |
(4) |
|
5t>i,703 89,866 |
(Thousand dollars) |
|||
Capital loss completely deducted: |
176,166 47,068 |
176,165 47,068 |
||
With carryover from 1953-57 |
- |
|||
59.; , 569 |
223,234 |
223,234 |
||
Capital loss partially deducted: |
193,524 132,485 |
755, X8 1,019,100 |
193,441 132,435 |
5cl,907 |
With carryover from 1953-57 |
886,665 |
|||
326,009 |
1,774,448 |
325, 87e |
1,448,572 |
|
Rl- turns with capital loss |
920,578 |
1,997,682 |
549,110 |
1,448,572 |
In the first category, returns with capital loss completely deducted, there were 594,569 returns which had $223.2 million of capital loss before statutory limitation. On each of these returns the loss was small enough to be within the limitation, and therefore, was deducted in full even though some of these returns had a capital loss carryover from prior years .
In the second category, returns with capital loss partially deducted, there were 326,009 returns with capital loss before limitation of $1.8 billion. The capital loss on each of these returns was large enough that the statutory limitation was effective and the deductible loss was limited to $325.9 mil- lion, or 18 percent of the entire loss reported on these returns .
Among these returns with capital loss partially deducted, there were 193,524- returns that had no capital loss carryover from 1953-57. Therefore, the capital loss before limitation of $755.3 million was the result of current year sales. Since the statutory limitation allowed a deduction of only $193.4 million, the remaining disallowed loss of $561.9 million is a capital loss carryover to 1959.
Each of the remaining 132,485 returns with cap- ital loss partially deducted had a capital loss carryover from 1953-57. The entire loss before limitation reported on these returns amounted to $1 billion of which only $132.4 million could be used as a deduction because of the statutory limitation. The disallowed capital loss of $886.7 million gives an approximation of the capital loss to be carried into 1959 from these returns. It is slightly over- stated because the portion of a carryover loss arising in 1953 that was not absorbed by capital gains and the $1,000 deduction in the current ;y'^ar cannot be carried into 1959, as the 5-year carry- over period has expired. It was not possible to determine from the return schedule the amount of 1953 capital loss carryover which has expired.
The approximate capital loss carryover into 1959 consists of the unused loss of $561.9 million on re- turns with no carryover from 1953-57 and the $886.7 million excess capital loss on returns with carry- over from prior years, making a total of $1.4 billion.
ITEMIZED NONBUSINESS DEDUCTIONS
There were 20.8 million returns on which non- business deductions of $27.5 billion were itemized and subtracted from adjusted gross income. The amount of total deductions represented 18.9 percent of the adjusted gross income reported on these re-
turns. Contributions of $5.7 billion, interest paid of $6.3 billion, taxes of $7.5 billion, and medical deductions of $4.3 billion were higher than for any previous year for which such data were tabulated. Total itemized deductions increased $1.8 billion over itemized deductions for 1957. Ninety-seven percent of the 1958 returns with itemized deductions showed taxes, 96 percent contributions, 76 percent interest paid, and 59 percent a medical expense deduction. Of the 20.8 million itemized deduction returns, 19 million were taxable.
Chart 2 shows a comparison of itemized deductions for 1958 with those for 1956, the most recent year that detailed deductions were tabulated.
Chart 2 -ITEMIZED NONBUSINESS DEDUCTIONS: I95G AND 1958
I I I I I I
i 10 15 20 25 30
Contributions
Ninety-six percent of the 20.8 million returns with itemized deductions for 1958 had a deduction for contributions. The contributions occurred on 20 million returns and amounted to $5.7 billion. A description of allowable contributions is given among the itemized nonbusiness deductions later in this report.
In general, contributions equaling 20 percent of adjusted gross income were allowed as a deduction. However, there was an additional allowance to the extent of 10 percent of adjusted gross income, if such contributions consisted of gifts to churches, tax-exempt educational institutions, tax-exempt hospitals, and organizations directly engaged in continuous medical research. Also, an unlimited deduction for contributions was allowed individuals who met specified conditions.
Text table F shows, by adjusted gross income classes, the number of returns and the deduction for contributions, together with the returns that showed the deduction to be in excess of 20 percent of adjusted gross income. For 1958, there were 177 thousand returns with charitable deduction exceed- ing 20 percent of adjusted gross income and the ex- cess contributions were approximately $138 million.
INDIVIDUAL INCOME TAX RETURNS FOR 1958
These 177 thousand returns represented less than 1 percent of the 20 million returns with a deduction for contributions. Fifty-four percent of the returns with excess contributions were taxable returns on which 76 percent of the excess contribution appeared.
The deduction for contributions in excess of 20 percent of adjusted gross income is not the total amount of contributions allowed as a deduction to the special organizations. In some cases the special contributions exceeded the 10 percent limitation described above and the excess could be included with the contributions to which the 20 percent limitation applied. In other cases where the total contributions were less than 20 percent of adjusted gross income, any contribution to these special organizations would not be reflected in the group tabulated as having a deduction in excess of 20 percent of adjusted gross income. The tabulation denotes only that the total deduction for contribu- tions, without regard to type, was in excess of 20 percent of adjusted gross income.
Basic table 7 presents a frequency distribution of all returns with a deduction for contributions for 1958, in which the combined taxable and nontaxable returns are cross classified by adjusted gross in- come classes and size of deduction for contributions.
rabiD F.— DEDUCTIBLE rONTRIBl'TlONS IN EXCt INCOME BY ADJUSTED GKO> |
SS OF 20 PERCENT OF ADJUSTED GROSS S INCOME CLASSES |
||||
Number of returns with deduction for contribu- tions |
Deduction for contribu- tions |
Returns with deduction for contributions exceeding 20 percent of adjusted gross income |
|||
Adjusted gross income classes |
Number of returns |
Amount in excess of 20 percent |
|||
(1) |
(2) |
(3) |
(4) |
||
Taxable returns: |
58, a7 206,584 362,676 541,702 695,472 905,199 1,093,&15 1,285,522 1,440,071 3,078,354 2,530,482 1,756,085 1,203,373 780,867 1,473,232 419,662 210,280 320,517 86,284 13,694 3,743 3,874 520 233 |
4,046 18,621 41,005 72,167 103,003 148,178 188,521 240,248 280,948 634,740 596,236 453,201 346,873 252,343 608,465 248,775 160,936 373,091 254,318 98,895 47,933 113,269 43,612 81,248 |
6,136 5,793 7,998 7,176 7,186 5,853 7,923 6,190 7,918 5,455 3,788 J 4,155 5,490 2,255 1,869 3,618 2,801 1,073 433 799 168 83 |
(1) |
|
$1 $1 $2 $2 $3 $3 $4 $4 $5 $6 $7 $8 $9 $1 $1 $2 $2 $5 $1 $1 *2 $5 $1 |
000 under $1,500 500 under $2,000 000 under $2,500 500 under $3,000 000 under $3,500 500 under $4,000 000 under $4,500 |
437 545 679 1,226 1,463 929 638 1,287 |
|||
000 under $6,000 000 under $7,000 000 under $8,000 000 under $9,000 |
2,321 2,155 1,195 2,506 |
||||
),000 under $15,000 |
3,575 |
||||
),000 under $100,000 0,000 under $150,000 0,000 under $200,000 X),000 under $500,000 0,000 under $1,000,000 |
10,681 7,936 4,264 15,481 7,723 |
||||
Total taxable returns |
18,470,288 |
5,410,672 |
95,857 |
104, o88 |
|
Nont |
xable returns: |
17,496 110,214 176,470 183,324 213,684 191,740 155,593 140,875 101,692 79,311 119,666 |
2,li>; 10,389 22,446 25,230 31,922 31,646 28,085 29,500 23,502 18,003 60,277 |
•j,S43 15,125 18,881 12,700 7,21o 5,343 3,791 >■ 10,344 |
|
$6 $1 |
» under $1,000 000 under $1,500 |
1,520 2,391 |
|||
$2 $2 $3 $3 |
000 under $2,500 500 under $3,000 000 under $3,500 |
958 1,145 736 |
|||
$4 $4 |
000 under $4,500 |
23,221 |
|||
$5 |
|||||
Total nontaxable returns... |
1,490,065 |
283, It^ |
80,743 |
32,815 |
|
Retu] Retuj Hetui |
19,960,353 |
5,693,836 |
176,600 |
||
7,959,487 9,464,724 2,536,142 |
1,319,624 2,315,958 2,058,254 |
133,973 23,748 18,879 |
|||
ns $5,000 under $10,000 |
9,061 |
||||
for "Description of Sample variability is too largeto udes data deleted for this
showing separately. Howeve
Medical Deduction and Expenses
Of the 20.8 million returns with nonbusiness deductions itemized for 1958, 12.2 million had a deduction for medical and dental expenses . The de- duction amounted to $4-. 3 billion. This deduction is analyzed in text table G to show the amount claimed by taxpayers under 65 years of age and by those 65 years or over, together with the total medical and dental expense including drugs in excess of 1 per- cent of adjusted gross income, reported by each age jroup . The age group 65 years or over includes data from joint returns of husbands and wives where only one spouse was 65 years or more as well as joint returns where both spouses were 65 or over, and re- turns of all other individuals 65 years or more. When either spouse was 65 or more years of age, the medical expenses for both husband and wife on the joint return were allowed as though both were 65 years of age. The majority of returns with medical deduction fall in the age group under 65.
A description of expenses considered for this de- duction, the limitations on the amount allowed as a deduction, and rules relating to taxpayers age 65 or over are given under itemized nonbusiness deduc- tions later in this report.
Table G shows that for persons in the age group under 65 years, the total medical expenses reported were $5.3 billion, averaging $4-93 per return. This age group, which could deduct only the medical expenses in excess of 3 percent of adjusted gross income, deducted $3. A billion. This deduction was about 6-4 percent of the total medical expenses incurred, but only 5 percent of the adjusted gross income reported by this group .
Persons in the age group 65 or over claimed a medical deduction on 1.5 million returns, or 12 per- cent of the 12.2 million returns with a medical deduction. Total medical expenses of $926.'+ million were reported, with an average per return of $627. This group was allowed a more liberal deduction amounting to $900.9 million, or 97 percent of their total medical expenses. This deduction was nearly 8 percent of their adjusted gross income, and re- flects the increase allowed disabled persons 65 years or over who could deduct medical expenses to the extent of $15,000 per person, for 1958.
Basic table 7 presents a frequency distribution of the number of itemized deduction returns with a medical deduction by adjusted gross income classes cross classified by the size of the medical deduc- tion. In this table, the taxable and nontaxable returns are tabulated together. More than 5,000 returns had a medical deduction of $10,000 or more.
Total Itemized Deductions
A new table based on the total amount of deductions claimed was prepared from the returns with itemized deductions for 1958. Text table H gives a distri- bution of the number of returns with itemized deduc- tions by adjusted gross income classes and by size of total deductions. Of the 20.8 million itemized deduction returns, there were 9.6 million returns, or 4-6 percent of the total, that had itemized deduc- tions under $1,000. Less than 12 thousand returns showed total deductions of $30,000 or more.
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Tnblo (7.— MKDICVL DEOI |
rrioN \m e |
<PENSE, B^ |
\DJl!STED OltnSS INCOME CUSSES |
AND BY AGE nROUPS |
||||||||||||
Number of returns with medical |
Deduction for medical expense |
Under 65 years of age |
Age 65 ..-ears or over |
|||||||||||||
Number of returns |
Adjusted income |
Deduction for medical expense |
Medical expense reported |
Number of |
Adjusted gross |
Deduc tion for medical expense |
Medical expense reported |
|||||||||
Adjusted gross income classes |
Total (Th.ws»ncl |
Dl'Ugs in excess of lit of adjusted gross |
Other medical and dental expense CTftouMnrf ,hUtr,) |
Total |
Drugs in excess of 1* of adjusted |
Other medical and dental expense |
||||||||||
(1) |
(2) |
(3) |
(4) |
(5) |
(■'} |
(7) |
(8) |
(9) |
(10) |
(11) |
(12) |
(13) |
(14) |
|||
Taxable returns: |
29,656 129,446 239,082 373,197 494,778 635,408 743,602 365,873 943,682 1,953,010 1,539,558 991,603 634,443 409,956 631,075 162,982 68,322 88,222 25,102 4,896 1,388 1,474 190 79 |
2,849 21,577 46,267 85,429 127,564 170,242 205,940 257,430 270,333 579,625 461,887 308,551 225,670 160,393 330,429 123,056 68,798 117,877 53,373 9,865 3,230 3,955 725 332 |
29,655 128,425 209,840 328,754 429,349 543,452 649,605 770,947 859,534 1,324,310 1,464,109 939,362 594,771 332,338 601,723 122,110 44,154 43,337 5,794 392 125 82 2 1 |
26,439 163,159 371,339 743,862 1,183,001 1,766,414 2,445,749 3,278,139 4,084,238 10,001,805 9,464,059 7,022,446 5,035,525 3,620,300 7,051,619 2,081,596 973,255 1,406,531 437,672 68,359 21,184 21,542 1,704 1,126 |
2,349 21,434 41,564 75,456 109,476 141,869 175,763 218,824 235,488 521,684 425,236 279,458 197,473 140,089 256,449 83,269 37,202 56,518 17,282 1,752 465 355 7 10 |
3,e,;5 26,371 52,679 98,734 144,905 194,792 249,044 317,051 357,903 321,433 709,918 489,937 348,459 248,535 478,444 148 ,449 65,617 99,158 30,341 3,887 1.125 1,022 58 50 |
788 5,581 11,459 21,334 29,140 35,640 45,999 59,448 65,540 136,364 110,'035 71,055 52,043 31,865 51,437 11,019 3,618 3,225 400 43 2 3 |
2,857 20,790 41,220 77,400 115,766 159,152 203,045 257,503 292,363 585,059 599,833 418,922 296,426 216,770 426,957 137,430 62,999 95,933 30,441 3,844 1,124 1,019 58 50 |
(') 29,242 44,433 65,429 91,955 93,997 95,926 89,143 128,700 75,449 52,241 39,672 27,068 79,352 40,872 24,168 44,885 13,308 4,004 1,263 1,392 133 78 |
(M 52,366 100,559 130,150 299,059 352,186 407,352 422,635 705,399 487,072 390,483 334,123 256,646 964,156 704,562 539,782 1,542,461 1,244,058 477,806 217,343 394,925 127,944 146,542 |
(M 4,703 8,963 18,088 28,373 31,177 33,606 34,645 57,942 35,651 29,093 28,192 20,309 53,980 39,787 31 , 596 51,359 36,091 3,113 2,765 3,601 719 322 |
(M 4,868 9,293 18,927 29,764 32,978 40,214 36,533 59,762 37,214 30,676 30,608 20,500 55,592 40,300 32,077 62,419 36,&i2 8,255 2,775 3,642 1,104 441 |
(M 1,061 1,996 3,758 5,696 6,407 5,940 6,284 8,635 6,183 3,286 3,242 1,790 4,600 2,162 1,165 1,142 243 36 8 5 |
|||
$1 *1 $2 $2 *3 $3 *i $4 $5 $6 $7 $8 $9 $1 $1 $2 $2 $5 $1 $1 $2 $5 $1 |
000 under $1 500 under $2 000 under $2 500 under $3 000 under $3 500 under $4 000 under $4 500 under $5 000 under $6 000 under $7 000 under $6 000 under $9 000 under $1 ,000 under $ ,000 under $ ,000 under $ ,000 under $ ,000 under $ XI.OOO under 0,000 under 0,000 under 0,000 under |
500 000 500 000 500 000 500 000 000 000 000 000 ,000 5,000 0,000 5,000 0,000 00,000 1150,000 i200,000 1500,000. . . . 11,000,000. . |
(') 3,807 7,297 15,169 24,068 26,571 34,274 30,299 51,127 31,031 27,390 27,366 18,710 60,992 38,138 30,912 a, 277 36,399 8,230 2,770 3,634 1,099 |
|||||||||||||
Total taxable returns |
11,023,024 |
3,636,405 |
51974,233 |
61,276,753 |
3,052,037 |
4,893,219 |
746,148 |
4,147,071 |
1,(K8,791 |
10,349,093 |
584,358 |
504,738 |
63,644 |
541,094 |
||
Nont Un |
xable returns: |
13,023 81,932 142,555 154,436 179 ,469 159,675 125,390 106,699 75,960 57,306 91,950 |
3,553 21,903 57,176 76,557 84,207 74,001 71,413 64,350 42,750 37,160 114,056 |
6,21C 55,902 86,751 75,346 100,963 85,829 78,150 77,733 58,914 46,366 75,791 |
2,385 54,801 110,289 131,579 224,899 240,709 253,456 289,243 249,498 220,255 463,552 |
1,955 14,887 33,277 28,385 41,284 36,202 34,025 34,753 23,101 25,117 52,636 |
2,033 16,528 36,530 32,327 48,017 43,471 41,615 43,411 35,577 31,719 66,605 |
592 3,527 7,481 6,929 8,325 5,581 5,537 7,997 4,832 3,933 9,114 |
1,346 13,001 29,099 25,393 39,692 35,390 35,078 35,414 30,745 27,781 57,491 |
6,318 16,080 55,804 78,590 78,505 72,846 47,240 28,965 17,045 10,940 15,159 |
2,892 13,136 74,201 135,936 176,627 200,418 151,967 107,792 71,957 50,928 121,198 |
1,598 7,021 23,399 43,172 42,923 37,799 37,337 29,597 14,649 12,043 61,420 |
1,603 7,074 24,141 48,877 43,674 38,356 38,182 29,863 14,985 12,185 52,734 |
184 749 2,794 7,796 4,422 5,098 4,599 3,050 4,091 1,434 1,337 |
1,419 6,325 21,347 41,081 39,252 33,258 33,583 26,813 10,894 10,751 |
|
0 under $1,0 000 under $1 500 under $2 000 under $2 500 under $3 000 under $3 500 under $4 000 u-nder $4 500 under $5 |
||||||||||||||||
$1 $1 $2 $2 *3 $3 $4 $4 |
500 000 50.0 000 500 000 500 000 |
|||||||||||||||
Total nontaxable returns. |
1,188,450 |
647,141 |
750,.',55 |
2,240,763 |
330,633 |
397,888 |
55,953 |
331,935 |
427,995 |
1,108,152 |
315,508 |
321,674 |
35,554 |
285,120 |
||
Grand total |
12,211,474 |
4,283,546 |
10,734,l83 |
63,^17,531 |
3,382,570 |
5,2''1.107 |
312,101 |
4,479,00.;. |
1,.7,,,7S,-. |
ii„':7,:45 |
900,875 |
926,412 |
99,1?8 |
327,214 |
||
Retui Retui |
ns under $5,C ns $5,000 unc ns $10,000 01 |
)00 er $10,000. |
5,557,224 5,617,467 1,036,783 |
1,721,715 1,331,977 729,853 |
4,633,237 5,281,097 820,354 |
15,839,556 35,588,952 12,089,023 |
1,301,780 1,615,444 455,445 |
1,775,403 2,582,321 832,378 |
331,758 410,403 69,925 |
1,444,640 2,271,913 752,453 |
923,937 335,370 215,429 |
2,802,745 2,253,390 5,401,110 |
419,936 216,533 264,407 |
431,660 225,222 269,530 |
65,359 24,116 9,723 |
366,301 201 ,106 259,807 |
MARITAL STATUS OF TAXPAYER
EXEMPTIONS
Husbands and wives, filing 36.8 million joint returns, comprise the largest group of the five mar- ital classifications for taxpayers for 1958. Nearly 2 million other married persons filed returns sepa- rately from their spouse.
Single individuals who did not claim status as head of household or surviving spouse filed 19.2 million returns which was more than 500 thousand re- turns below the number filed by this group for 1957. The decrease in this group of returns forms the major part of the 74-0 thousand decrease in total returns filed for 1958. Nearly 1 million returns were filed by individuals claiming status as head of household and about 80 thousand returns were filed by surviv- ing widows and widowers for 1958. The 80 thousand returns filed by the latter group was 1/3 less than the number filed by surviving spouses for 1957.
In text table I, the number of returns and amounts of adjusted gross income and taxable income are shown for the five marital classifications of taxpayers.
Although there were about 3/<+ of a million fewer returns filed for the income year 1958, the total number of exemptions claimed increased 223 thousand. Since there were fewer taxpayer exemptions, the in- crease was among the exemptions for dependents and age and blindness of the taxpayer.
Exemptions include all those claimed for personal exemption of the taxpayer, and on joint returns his spouse who was considered a taxpayer, dependents, and additional exemptions for taxpayer's age 65 or over and blindness. Exemptions for children depend- ents were tabulated as such for the first time in many years . Children claimed as dependents were included even though their address differed from that of the taxpayer.
Text table J shows, for the five marital status classifications, the total number of exemptions, the per capita exemption of taxpayers, exemptions for children, and the aggregate number of exemptions for age, blindness, and dependents other than children.
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Tablo H.— NUMBER OF ITEMIZED DEDUCTrON RETURNS BV ADJUSTED GROS? INCOME CLASSES AND SIZE OF T0T4L DEDUCTIONS
Adjusted gross
$1CX) $200
$200 $300
$300 $«»
$400 $500
$500 $1,000
Taxable
$600 under $1,000... $1,000 under $1,500. $1,500 under $2,000. $2,000 under $2,500. $2,500 under $3,000. $3,000 under $3,500. $3,500 under $4,000. $4,000 under $4,500. $4,500 under $5,000.
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $8,000
$8,000 under $9,000
$9,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total taxable
Nontaxable
Under $600
$600 under $1,000. $1,000 1 $1,500 1 $2,000 under $2, $2,500 under $3 $3,000 under $3 $3,500 under $4 $4,000 under $4 $4,500 under $5 $5,000 or more.
Total nontaxable
Grand total
Returns under $5,000
Returns $5,000 under $10,000.
Returns $10,000 or more
Taxable returns: $600 under $1,000. $1,000 u $1,500 under $2,1 $2,000 under $2, $2,500 und. $3,000 under $3, $3,500 undi $4,000 undc $4,500 undi
000.
$5,000 under $6,( $6,000 under $7,< $7,000 unde:
$8,000 under $9,000
$9,000 under $10.000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000.
$1,000,000 or more
Total taxable returns. Nontaxable returns :
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $3,500
$3,500 under $4,000
$4,000 under $4,500
$4,500 under $5,000
$5,000 or more
Total nontaxable retun
Grand total
Returns under $5,000
Returns $5,000 under $10,000 Returns $10,000 or more
^Sample
67,066
228,159
389,618
584,426
744,640
948, 514
1,147,777
1,339,914
1,488,801
3,165,452
2,581,656
1,786,710
1,220,225
793,847
1,493,724
424,654
213,584
324,742
87,960
13,780 3,786 3,915
18,661 65,447 99,131 59,375
6,456 49,532 89,412 129,160
120,952 72,414 19,720
39,147 70,259 112,483 141,556 159,268 152,880
30,934 108,713 250,016 390,521 579,395 731,651 870,541 913,608 1,577,1 868,453 371,758 116,753
64,966 111,345 198,016 290,062 428,562 1,168,555 1,136,653 866,764 594,686 359,097 446,567 63,049 20,745 17,533 1,720
82
5,803,293
26,090 140,525 223,741 223,937 260,743 217,750 177,866 156,572 112,984
85,473 132,022
23,531 10,958 5,106
31,983 33,720 9,178
18,102 31,438 32,719 32,719
5,141 30,064 88,283 105,039 122,633 110,048 84,963 65,566 35,809 16,100 15,973
6,166 16,317 31,166 45,625 43,931 47,617 4A,170 40,796 30,771 31,756
8,564,601 9,675,145 2,571,676
$1,500 $2,000
3,797 17,085 36,249 69,635
491,290 95,577 35,432 31,821 2,310 140
147,558
(')
360,456 3,749
679,619
4,539,025
2,974,940
8,282
338,653
1,434,701
4,157,516
549,729
Size of total deduct
$2,000 $2,500
$2,500 under $3,000
$5,000 $10,000
$10,000
$20,000
$20,000 $30,000
78, 598
110,150 119,702 112,289 92,198
272,237 83,514 35,420 38,295 3,166 143
23,654 30,152 41,635 45,325 38,983 128,702 61,511 31,923 35,287 3,811
131
(')
7,819 20,153 15,038 25,274 21,064 96,255 65,936 39,147 61,371
7,944
438
4,817 8,531 5,445
31,136 26,864 21,543 4^,761 8,865 854
20,997 24,670 25,369 75,391
1,974 2,738 18,178 21,099
2,773 1,559 2,536
19,615 18,877 25,630 15,059 13,318 22,203
145,909
339,684
1,651,536
656,652
7,949 6,615 8,574 8,301 11,616 13,970
67,993
5,323 5,116 9,275
44,200 188,995 261,464
24,238 104,396 271,247
5,176 15,422
182,213
10
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Table I.— Nl. MBF.K OF RETl'HNS, ADJILSTED GROSS INCOME, AND T \X \BLE INCOME BY
MARIHL STATUS OF TAXPAYER
[Taxable and nontaxable returns]
Returns |
Adjusted gross income less deficit |
|||
Marital status of taxpayer |
Number |
Percent of total |
income |
|
(1) |
(2) |
(3) |
(4) |
|
Joint returns of husbands and wives Separate returns of husbands and wives.. |
36,794,585 1,990,772 972, 601 79,550 19,247,674 |
62.3 3.4 1.6 0.1 32.6 |
221,272,356 6,320,571 4,883,233 366,506 48,311,426 |
114,478,320 3,570,007 |
Returns of single persons not head of |
||||
Total |
59,085,132 |
100.0 |
281,154,092 |
|
Table J.— NUMBER OF EXEMPTIONS BY MARITAL STATUS OF TAXPAYER AND BY TYPE OF EXEMPTION
[Taxable and nontaxable returns]
Total number of exemptions |
Numbe |
r of exempti |
ons for— |
|
Taxpayers |
Children |
Age, blindness, and dependents other than children |
||
(1) |
(2) |
(3) |
(4) |
|
Joint returns of husbands and |
136,367,109 3,402,229 2,160,391 212,798 26,066,953 |
73,589,170 1,990,772 972, 601 79,550 19,247,674 |
55,105,908 1,103,149 541,339 103,678 2,603,932 |
|
Separate returns of husbands and |
||||
Returns of heads of household Returns of surviving spouse Returns of single persons not head of household or surviving |
»;6,451 29,570 |
|||
Total |
168,209,480 |
95,879,767 |
59,453,006 |
12,371,707 |
for 59.5 million
35 percent of the
In text table K,
Of the total 168.2 million exemptions claimed for 1958, there were 95.9 million per capita exemptions for taxpayers . With the reduction in number of re- turns filed for 1958, there was a corresponding reduction of taxpayer exemptions as compared with 1957.
Children dependents accounted exemptions for 1958, which was total exemptions for the year, data for returns with children dependents show the number of returns, number of children dependents, and taxable income reported on these returns, by marital status of taxpayer and by adjusted gross income classes .
FORM 1040A, INDIVIDUAL INCOME TAX RETURNS
The revised return Form 10-40A for 1958 was filed by employees who had less than $10,000 total income consisting of salaries and wages, supported by With- holding Statements (Form W-2), and not more than a total of $200 of interest, dividends after exclu- sions, and other wages not subject to income tax withholding. Joint returns could be filed on this form if the total income of husband and wife did not exceed the specified limits. Heads of household and surviving spouse were not permitted to use this form. Although data for all 1040A returns are included in tables throughout this report, emphasis was given to a study of the characteristics to be found on this new form. The results are presented in text tables L, M, N, and 0.
Table L shows sources, adjusted gross income, ex- emptions, taxable income, and income tax by adjusted gross income classes. Of the 17.1 million returns filed on Form lO'+OA, 2.3 million had adjusted gross income of $5,000 under $10,000, the extended income range for the revised form. Of these 2.3 million
returns, only 30.7 thousand returns were nontaxable, and nearly all were joint returns. Adjusted gross income of $47.5 billion was reported on the 1040A returns, with $14-. 8 billion of this being on returns with adjusted gross income of $5,000 or more. Slightly over 20 percent of all salaries and wages for 1958 were reported on the 104-OA returns. Other income of $38.9 million was reported for 1958, an increase of $23.6 billion over the amount reported for 1957. Only $8.8 million of this increase was on returns with adjusted gross income $5,000 under $10,000.
In table M, data for the 17.1 million lO^OA returns are distributed by marital status of the taxpayer. About 7 million of these returns were joint returns of husbands and wives, 9 million were returns of single persons not head of household or surviving spouse, and 1 million were returns of married persons filing separate returns. Exemptions of $23.7 billion were claimed on the 104-OA returns, representing about 40 million separate exemptions including the per capita exemption for taxpayers and exemptions for age, blindness, and dependents. Over 26 million exemptions were claimed on joint returns, 11.6 million on returns of single persons, and 1.6 million on separate returns of husbands and wives. The 40 million exemptions on the 1040A re- turns comprise 23.5 percent of the total exemptions claimed for 1958.
Table N is a tabulation of data from the joint returns filed on Form 1040A. This table presents data by adjusted gross income classes for two cate- gories of joint returns, namely, returns with one spouse employed (either husband or wife) and returns with both spouses employed. Returns were considered as having both spouses employed when two or more salaries were reported and at least one, but not all, was labeled as the wife's earnings. If no salary was labeled as earned by the wife or if all salaries were labeled as earned by the wife, the return was considered to have had only one spouse employed. Of the 6.9 million joint returns, 5.7 million returns showed only one spouse employed, while 1.2 million returns had wages for both husband and wife. On the latter returns with both spouses employed, approximately $2 billion of wages was labeled as the wife's income and $4 billion was income of the hus- band. The wages of $2 billion do not represent all working wives because the wife who was sole support of the family was classified as a return with one spouse employed.
Table 0 shows a frequency of the number of 1040A returns with other income reported, by adjusted gross income classes cross classified by size of the other income. Among the 1040A returns, about one return out of 30 showed receipt of other income. Of the 580.8 thousand returns with other income,
210.6 thousand returns, or 36 percent, had other income of $100 or more. In adjusted gross income classes $5,000 under $10,000, other income occurred on 139.6 thousand returns, all of which were taxable returns. In adjusted gross income classes under $5,000, the frequency of other income increased by
154.7 thousand returns, or 54 percent, over the frequency for 1957, and the amount of other income nearly doubled with an increase of $14.9 million for 1958.
INDIVIDUAL INCOME TAX RETURNS FOR 1958
11
Table K.— RETURNS WITH CHILDREN DEPENDENTS— NUMBER OF CHILDREN DEPENDENTS AND TAXABLE INCOME BV ADJUSTED GROSS INCOME CLASSES AND MARlr\L STATUS OF TAXPAYER
Adjusted gross
Number of children dependents
of husbands and wii
Number of children dependents
Taxable : $600 under $1,000. $1,000 unde; $1,500 under $2,( $2,000 under $2, $2,500 under $3 $3,000 under $3 $3,500 under $i $4,000 under $4 $4,500 under $5
000.
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $8,000
$8,000 under $9,000
$9,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000. . . $150,000 under $200,000... $200,000 under $500,000. . . $500,000 under $1,000,000. $1,000,000 or more
Total taxable retur: Nontaxable returns:
No adjusted gross incom'
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under ;' "
$2,500 under $3, $3,000 under $3 $3,500 under $4 $4,000 under $4 $4,500 under $5 $5,000 or more.
Total nontaxable Grand total
Returns under $5,000
Returns $5,000 under $10,000. Returns $10,000 or more
34,052 110,096 500,354
734,803
1,087,053
1,366,659
1,679,233
1,862,812
3,828,756
3,053,717
2,101,441
1,407,136
902,007
1,511,546
354,086
160,743
222,410
47,119
34,052
110,096
562,203
1,013,593
1,701,673
2,404,991
3,299,647
3,953,061
8,417,135
6,838,526
4,734,884
3,123,679
1,953,531
3,293,514
806,967
375,434
532,423
110,553
14,849
3,X3
3,270
2,524
37,033
163,970
375,531
824,016
1,387,074
2,131,848
2,927,005
8,012,184
8,779,789
7,822,843
6,456,855
4,972,842
11,332,243
4,314,571
2,686,140
5,886,423
2,524,674
545,556 198,850 310,857 101,405 129,700
546,199
865,415
1,145,255
1,482,773
1,714,358
3,632,113 2,964,951 2,052,554 1,384,551 891,799
1,488,372
346,116
156,655
216,613
45,786
5,772
1,392
1,346
742,169 1,373,953 2,055,624 2,978,590 3,700,400 8,077,497 6,678,486 4,650,713 3,084,226 1,935,094
523,469
108,262
14,551
3,240
3,151
153
226,458
566,962
1,048,829
1,760,452
2,585,248
7,458,221 8,460,529 7,605,575 6,339,599 4,907,215 11,U0,186 4,211,002 2,614,651 5,736,560 2,455,865
530,025 190,872 295,824 93,685 87,825
7,482 19,403 52,072
41,796 58,688 58,533 59,676 45,398
55,876 25,110 10,437 9,000 (M 5,359 2,710 1,488 1,243 262
91,461 116,450 35,175
102,680 49,965 19,373 13,919
(M
9,426 3,718 2,429 1,623
34,321 70,379 94,438 107,470 104,548
(M
48,871 37,005 27,400 32,923 12,685
2,220 2,582 33,251
757,251
146,064 301,172 423,214 761,053 905,531 817,697 736,055 599,447 449,877 234,735 160,622 183,569
343,856
583,456
820,775
1,492,296
1,845,248
2,118,749
2,190,890 2,064,802 1,821,375 1,066,090 778,631 1,043,739
133,233 215,167 275,741 526,730 734, 172 739,494 681,167 566,292 431,846 229,759 157,905 180,315
320, 582
447,788
590,695
1,117,837
1,505,168
1,914,168
2,016,213 1,944,619 1,754,713 1,048,293 766,716 1,031,065
16,509 32,358 49,476 32,574 11,219 10,898 7,830 4,921
27,238 51,926 74,096 64,256 32,310 37,287 32,694 18,475
16,169,907
4,871,821
14,457,367
28,205,484 26,106,198 5,146,324
7,351,960 36,046,788 28,032,574
10,745,772 11,1CK,683 2,263,897
24,577,804 25,452,177 5,075,927
6,253,288 34,773,. 27,358,591
511,219 103,973 11,663
Adjusted gross
of heads of household
Taxable
Number of children
dependent?
Number of children dependents
Taxable
$600 under $1,000. $1,000 under $1,501 $1,500 under $2,00i $2,000 under $2,50i $2,500 under $3 $3,000 under $3 $3,500 under $4 $4,000 under $4 $4,500 under $5
000.
$5,000 under ; $6,000 under $7,000 under :
$3,000 under $9,000
$9,000 under $10,000
$10,000 under $15,030
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000. $1,000,000 or more
Total taxable
$600 under $1,000. $1,000 under $1,501 $1,500 under $2,00f $2,000 under $2,501 $2,500 under $3 $3,000 under $3 $3,500 under $4 $4,000 under $4 $4,500 under $5
,000 <
Total nontaxable
Grand total
Returns under $5,000
Returns $5,000 under $10,000. Returns $10,000 or more
(M
3,138 12,579 19,671 33,511 37,975 36,035 33,346 56,400 28,604 17,246
5,077
3,123 2,623 1,273 2,502
(') 8,138 14,271 25,436 47,389 60,032 49,236 48,004
30,531 46,939 29,093 7,447
(M 2,469 7,146 15,253 37,561 51,510 70,677 80,392
169,484 101,894 74,688 27,211 (M
68,272 33,458 23,275 63,542 31,000 6,739 3,718 7,442 4,068 2,312
3,404 4,072
4,091
5,774 7,819 6,470 5,077 3,124
24,191 31,182 132,381 123,065 124,676 121,158 96,687 64,310 80,305 30,593 13,830
25,480 9,687 7,635 18,995 10,322
575 1,275
175,337
180,532
191,404
150,294
111,353
149,996
55,517
31,629
18,087
7,797
10,584
3,362
1,599
2,087
1,810 28,077 64,703 97,179 143,564 187,674 185,221 147,739 219,735 111,306 83,916 43,402 19,734
13,179 34,403 14,802
',492
(M 8,472 11,552 23,133 17,035 13,927
3,743 (') 4,076 3,510
7,142
7,123 6,334
11,212 63,040 106,953 171,946 124,799 57,347 37,529 21,336 11,069
20,580 96,187 164,198 281,688 246,302 149,649 122 , 104 78,624 44,110
228,665 110,423 15,287
265,126 389,323 243,826
1,379,993 143,450 10,972
2,316,000 269,360 18,572
356,542 483,593 152,272
566335 O - 60 -2
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Tiiblo L.— FIHtM 1040\ KKll KN
rwMii.F. rNriniF..
Adjusted gross income classes |
Number of |
Salaries and wages |
Other income |
Adjusted gross |
Exemptions |
Taxable Income |
Income tax |
|
(1) |
(2) |
(3) |
(4) |
(5) |
(f.) |
(7) |
||
Taxs $6( $1 $2 $3 t4 $5 $6 *7 $8 $9 Nont* Unt $6( $1 $2 $3 $4 $5 $6 $7 $8 $9 Retui Retui |
800,602 2,301,602 2,270,417 2,218,270 2,009,684 1,030,660 567,988 333,328 209,608 119,119 |
665,681 3,382,877 5,675,943 7,739, 129 8,999,768 5,610,344 3,665,093 2,481,352 1,770,984 1,122,929 |
1,241 3.972 3,771 5,539 6,421 2,984 2,298 1,619 1,030 822 |
666,922 3,336,849 5,679,714 7,744,718 9,006,189 5,613,323 3,667,391 2,432,971 1,772,014 1,123,751 |
480,361 1,585,253 2,328,187 2,919,283 3,299,645 1,936,168 1,132,499 682,505 411,037 232,205 |
120,266 1,464,103 2,785,068 4,052,389 4,306,982 3,116,774 2,169,055 1,552,338 1,183,790 779,380 |
24,015 |
|
293,020 |
||||||||
557,011 |
||||||||
821,025 |
||||||||
981,305 |
||||||||
634,788 |
||||||||
nnn rt *7'nnn |
443,070 |
|||||||
318,898 |
||||||||
246,242 |
||||||||
162,842 |
||||||||
Total taxable retiirns |
11,861,278 |
41,114,100 |
29,747 |
41,143,847 |
15,007,143 |
22,030,145 |
4,482,216 |
|
xable returns: |
2,401,806 640,072 1,055,710 652,854 379,852 107,872 25,562 I 5,112 |
744,402 475,493 1,517,418 . 1,612,413 1,311,590 474,296 137,306 34,250 |
2,718 1,187 2,044 1,773 1,234 177 |
747,120 476,680 1,519,462 1,614,186 1,312,824 474 ,473 137,306 34,250 |
1,743,839 807,350 2,125,123 1,961,321 1,424,826 503,930 137,422 36,196 |
~ |
||
_ |
||||||||
_ |
||||||||
_ |
||||||||
_ |
||||||||
_ |
||||||||
~ |
||||||||
5,268,840 |
6,307,168 |
9,133 |
6,316,301 |
8,740,057 |
- |
- |
||
17,130,118 |
47,421,268 |
33,880 |
47,460,148 |
23,747,200 |
22,030,145 |
4,482,216 |
||
14,838,741 2,291,377 |
32,599,010 14,322,258 |
30,127 8.753 |
32,629,137 14,831,011 |
19,179,168 4,5tS,032 |
13,228,808 8,801,337 |
2,676,376 |
||
1,805,340 |
||||||||
, of Sample" and "Expla
Table M.— FORM 1040A RETURNS— INCOME, |
EXEMPTIONS, TAXABLE INCOME |
, AND TAX BV MARITAL STATUS OP TAXPAYER |
||||||||
Marital status of taxpayer |
Number of |
Salaries and wages (Thousand |
Other income |
Adjusted gross |
Exemptions (T>,™„nrf |
Taxable |
||||
Number of returns |
Amount |
Income tax |
||||||||
ns: |
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |
||
Taxable retui |
4,807,191 708,067 6,X6,020 |
23,045,939 2,036,073 16,032,083 |
216.255 12,270 229,545 |
14 ,417 960 14,370 |
23,060,356 2,037,038 16,046,453 |
9,350,158 640,481 4,516,50i |
10,905,545 1,194,918 9,929,682 |
2,199,726 |
||
Separate r Returns of |
turns of husbands and wives |
|||||||||
s'nplp nersons ot head of household or surviving spouse |
2,038,883 |
|||||||||
taxable returns |
||||||||||
Total |
11,861,278 |
41,114,100 |
458,070 |
29,747 |
41,143,347 |
15,007,143 |
22,030,145 |
4,482,216 |
||
Nontaxable r Joint retm Separate r Returns of |
turns: |
2,096,595 251,530 2,920,715 |
4,519,600 220,742 1,566,826 |
68,506 5,112 49,077 |
5,207 450 3,476 |
4,524,807 221,192 1,570,302 |
5,963,407 310,732 2,465,918 |
: |
||
t f h ba ds and wives |
||||||||||
'Tte\e Dersons not head of household or survivinp s-pouse |
||||||||||
ontaxable returns |
||||||||||
Total |
5,268,840 |
6,307,168 |
122,695 |
9,133 |
6,316,301 |
3,740,057 |
- |
- |
||
0 a d |
17,130,118 |
47,421,268 |
580.765 |
36,880 |
47,4d0,148 |
23,747,200 |
22,030,145 |
|||
SOLE PROPRIETORSHIPS
Preliminary data relating to businesses and pro- fessions carried on by individuals and reported in the business schedule C, or farm schedule F, or the taxpayer's equivalent schedule attached to returns. Form 10-40, for the income year 1958 are shown in text table P. Accounting periods for these busi- nesses were primarily January 1 - December 31, 1958, but there were some noncalendar accounting periods included. Early in 1961, when tabulations for sole proprietorships have been completed, comprehensive tables will be published in the report. Statistics of Income— 1958-59, U. S. Business Tax Returns. Although subject to revision the estimates in table P represent a coverage of all businesses owned and operated by sole proprietors during the income year, exclusive of those few who elected to be taxed as
corporations. These estimates were compiled from the regular Statistics of Income sample of business returns. Form 1040.
Table P shows that 8.8 million separate businesses were operated with total receipts of $163.4 billion, and the profit and loss when combined resulted in $20.8 billion net profit. This is about one-eighth of the overall business receipts.
Number of businesses was the enumeration of each different type of business owned, or profession practiced, by any sole proprietor as reported on the attached business schedules, regardless of whether profit or loss was summarized on the face of the return, and/or included in adjusted gross income. If the business schedule included two or more kinds of business which could not be separated, the busi- ness was classified for the activity showing the largest percentage of total receipts. Since the
INDIVIDUAL INCOME TAX RETURNS FOR 1958
13
TVBLE N.— JOINT RETl'RNS. FORM 1
Nl'MBER. INCOME, EXEMPTIONS. TiXiBLE fSCOME, AND TAX FOR RETl'RNS WITH ONE OR BOTH SPCLSES EMPLOYED. BY ADJUSTED GROSS INCOME CLASSES
l^anber of Joint
spouse employed
Taxable
$600 under $1,000. .. $1,000 under $2,000. $2,000 under $3,000. $3,000 under $«,0OO., $4,000 under $5,000. $5,000 under $6,000., $6,000 under $7,000. $7,000 under $8,000., $8,000 under $9,000., $9,000 under $10,000, Total taxabli
Nontaxable returns:
Under $600
$600 under $1,000
$1,000 under $2,000
$2,000 under $3,000
$3,000 under $4,000
$4,000 under $5,000
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $8, OX)
$8,000 under $9,000
$9,000 under $10,000
Total nontaxable returj
Grand total
Returns under $5,000
Returns $5,000 under $10,000
153,372
615,022
961,643
1,177,386
783,731 495,903 308,278 196,316 115,540
132,922 529,645 802,136 969,822 626,780 355,312 135, 580 116,051 50,613
215,168 1,351,512 2,824,819 4,366,288 3,424,223 2,287,638 1,377,821 978,352 478,964
1,764 1,491 1,036
215,506 1,352,419 2,826,730 4,368,630 3,425,987 2,289,129 1,378,857 979,006 479,293
159,506
894,159
1,620,221
2,207,636
1,426,666
313, 178
424,227
258,278
111,348
34,510
323,237
924,563
1,724,505
1,656,767
1,247,055
816,755
622,836
320,016
6,902 64,620 185,064 345,070
331,231 250,469 165,600 127,769 66,362
17,304,785
17,315,557
7,915,219
7,670,294
163,597 191,715 662,567 582,302 359,402 106,849
25,051
156,951 182,513 598,151 528,111 322,082 98,669 21,472
4,601
54,876 148,663 833,733 1,306,708 1,114,703 434,708 115,738
1,228 1,352 1,082
55,060 149,126 884,961 1,308,060 1,115,785 434,744 115,738
299,075
365,945
1,332,802
1,601,317
1,213,786
464,104
115,642
; with both spouses employed
Salaries and uages
Taxable
$600 under $1,000
$1,000 under $2,000. $2,000 under $3,000. $3,000 under $.'.,CO0. $4,000 under $5,-000.
$5,000 under $6,000. $6,000 under $7,000. $7,000 under $8,000. $8,000 under $9,000. $9,000 under $10,000 Total taxable
Nontaxable returns:
Under $600
$600 under $1,000. . . $1,000 under $2,000. $2,000 under $3,000. $3,000 under $4,000. $4,000 under $5,000. $5,000 under $6,000. $6,000 under $7,000. $7,000 under $8,000. $8,000 under $9,000. $9,X0 under $10,000
Total nontaxable
Grand total
Returns under $5,000
Returns $5,000 under $10,000
See text for "Description of Sample" and "Explanation of Classificatioi -Sample variability is too large to warrant showi:ig separately. Howev*
20,450 35,377 159,507 207,564
156,951
140,591 122,698 80,265 64,927
35,190 218,356 560,134 938,674 363,277 915,711 917,831 681,447 610,534
21,255 134,051 369,458 646,676 623,544 641,447 626,164 443,071 411,100
13,935 84,305 190,676 291,998
239,733 274,264 291,667 238,376 199,434
35,211 218,613 560,761 939,378 863,739 916,162 918,217 681,770 610,948
24,539 135,274 296,008 404,288 309,193 264,720 239,260 143,556 118,096
61,579 208,566 440,979
468,178 559,832 587,141 470,042 431,760
1,435 12,315 41,770 88,262 93,597 112,829 U9,617 97,048 89,766
1,741,154
,824,388
656,639
6,646 9,202 64,416 54,191 37,320 8,180
3,262 7,525 97,771 134,853 128,840 35,066
2,134 4,108 62,721 92,690 97,439 29,150
1,128 3,417 35,050 42,163 31,401 5,916
3,340 7,574 97,965 135,105 128,992 35,208
12,883 16,871 143,863 166,562 138,955 35,582
ieted for this
count was on an ownership basis, separate businesses of husbands and wives filing jointly were separately- enumerated, even when each owned a similar type of business. However, if the same type of business involved several establishments, it was counted only once to reflect its ownership . In case of community property business income divided between husband and wife, it was assumed that unless otherwise stated, each type of business was jointly owned and as a result, it was counted only once. If on the
other hand, the wife reported a business as noncom- raunity income, it was counted separately regardless of other community property business .
In contrast to this method of enumeration was the method used in arriving at the frequency of profit or loss from business or profession tabulated in basic table 4-. This count represented the number of returns with profit or loss from businesses or farms summarized on the face of the return, and/or in- cluded in adjusted gross income, regardless of
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Ta |
ble O.-FORM 1040A RETURNS— NUMBER OF RETURNS WITH OTHER INCOME BY GROSS INCOME CLASSES AND BY SIZE OF OTHER INCOME |
VDJISTED |
|||
Number of returns with other income |
Size of other income |
||||
Adjusted gross income classes |
Under $100 |
$100 under $150 |
$150 through $200 |
||
(1) |
(2) |
(3) |
(4) |
||
Taxable returns: |
17,893 59,304 60,838 83,332 97,135 51,124 37,321 25,050 15,848 10,225 |
10,736 37,832 44,989 53,169 65,950 36,809 25,562 17,893 11,247 |
6,646 19,427 12,270 26,074 26,073 12,270 10,225 6,135 "I 7,158 |
||
$1 $2 $3 $4 $5 $6 $7 $8 $9 |
000 under $2,000 |
||||
000 under $4,000 |
|||||
000 under $6,000 |
|||||
000 under $10,000 |
|||||
Total taxable returns |
458,070 |
308,788 |
126,278 |
23,004 |
|
Nont Un $6 $1 $2 $3 $5 $6 $7 $8 $9 |
xable returns: |
38,854 16,359 27,096 21,471 15,848 |
23,517 9,202 12,781 7,668 6,134 (M |
14,315 7,157 13,804 12,781 9,714 (M |
^ |
30 under $1 ,000 |
|||||
000 under ^,000 |
|||||
_ |
|||||
_ |
|||||
_ |
|||||
_ |
|||||
Total nontaxable returns |
122,695 |
61,347 |
58,793 |
(M |
|
Retuj Retu. |
580, 7d5 |
370,135 |
185,071 |
25,559 |
|
441,197 139,568 |
274,023 96,112 |
149,283 35,788 |
17.891 |
||
rns $5,000 under $10,000 |
7,o68 |
See text for "Description of Sample" and "Explanation of Classifications and Terms." ^Sample variability is too large to warrant showing separately. However, the grand total includes data deleted for this reason.
Table P.— SOLE PROPRIETORSHIPS (Preliminary Data)
[Taxable and nontaxable returns]
Agriculture, forestry.
Mining
Construction
Manufacturing^
Transportatio
tion, and sanitary
Wholesale and retail trade^
Wholesale trade
Retail trade
Wholesale and retail trade not allocable.
Finance, insurance, and real estate
Services
Nat
of
3,489,164 35,413 604,910 179,967
290,225
1,880,131 255,457 1,552,566 72,108 436,296 1,825,988 57,617
25,913,881 1,286,608
13,561,916 6,323,870
3,929,658 85,157,755 16,855,588 63,811,388 4,490,779 6,106,808 20,710,408 408,085
Combined net profit and
545,104 5,281,021 1,122,102 3,910,975
247,94.4
1,363,723
7,189,981
76,948
^Definitions of manufacturing and trade groups have been changed slightly in accord- ance with revised 1957 Standard Industrial Classification. For details, see forth- coming Statistics of Income 1958-59, U. S. Business Tax Returns.
whether the profit or loss was supported by attached schedules. Thus while business or farm schedules served as the basis for tabulating the number of businesses, information from the face of the return was the basis for tabulating profit or loss from business or profession. Whereas information from community property returns with business income was counted only once for number of businesses, it was counted twice for purposes of table 4- since it in- volves two separate returns representing husband and wife. Moreover, there is no reference in table 4- to the number of different businesses owned by each sole proprietor filing a return.
Total receipts were the gross receipts from sales and services or other business activities reduced by the value of returned goods, rebates, and allow- ances from the sales price or service charge. Farmers included the gross sales price of items raised or purchased. However, dividends on corporate
stock received as business income were excluded from total business receipts so as to be reported with other dividends in the dividend schedule. It is quite probable that total receipts are somewhat understated because in some cases the sole proprietor failed to submit a detailed business schedule, or the schedule for some reason was not attached to the return.
Combined net profit and loss was the net profit reduced by the net loss, resulting in a net profit for each industry as a whole. Net profit or net loss was that amount determined for income tax purposes, rather than for self-employment tax. Separate busi- ness profit and loss are not included in this report.
SOURCES OF DATA AND DESCRIPTION OF SAMPLE Sources of Data
Statistical information in this report was esti- mated from a sample of unaudited individual income tax returns. Forms 1040 and 1040A, filed by citizens and residents during the calendar year 1959 in the district offices of the Internal Revenue Service and with the Director of the International Operations Division in the National Office. The sample repre- sented all 1958 returns regardless of when filed. Most of the returns covered income for the calendar year 1958, but a relatively small number of returns. Form 1040, had noncalendar year accounting periods. Tentative returns and returns with no information regarding income and tax were eliminated from the tabulations and amended returns were used only when the original returns were excluded.
An individual income tax return was required of every citizen or resident alien under 65 years of age (including minors) who had $600 or more of gross income for the year, every citizen or resident 65 years or over who had $1,200 or more of gross income for the year, and every person regardless of age or gross income who had self-employment earnings of $400 or more during the tax year. Gross income, for purposes of filing, included earned income from sources without the United States, even though tax exempt. Citizens of Puerto Rico who were also cit- izens of the United States and aliens who were bona fide residents of Puerto Rico filed a return if they met the income test. Persons with gross income be- low the filing requirement who had wages from which income tax was withheld filed to claim refund of tax, although not otherwise required to do so.
Two return forms were available for reporting 1958 income. Form 1040A, the card-form, could be used by employees (other than head of household or surviving spouse) who earned less than $10,000, consisting of wages on Withholding Statements (Form W-2) and not more than $200 total of dividends, interest, and other wages not subject to income tax withholding. Form 1040, a four-page form with additional sched- ules, was provided for persons who either (1) were not eligible to file Form 1040A, or (2) elected to use Form 1040 rather than Form 1040A. Facsimiles of these returns are to be found on pages 87-119.
There were 42 million returns filed on Form 1040 and 17 million on Form 1040A. The number of 1040A returns showed an increase of 2.9 million over the
INDIVIDUAL INCOME TAX RETURNS FOR 1958
15
number filed for 1957. This increase in the use of Form 104-OA was primarily the result of extending two limits on amounts which could be reported on this card-form: (1) total income was raised from under $5,000 to under $10,000, and (2) the total amount of dividends, interest, and wages not subject to income tax withholding was increased from $100 to $200. There were 2.3 million returns with adjusted gross income of $5,000 under $10,000 among the lOAOA's, and also an increase of 643 thousand returns with adjusted gross income under $5,000 for 1958. The 42 million returns. Form 1040, were 3.7 million be- low the number filed for 1957. The larger part of this decrease occurred in the adjusted gross income group, $5,000 under $10,000.
Taxpayers itemized their deductions on 20.8 mil- lion returns, or 35 percent of the total returns filed for 1958. This is the highest proportion of returns ever to show itemized deductions. One return out of every two filed on Form 1040 had itemized deductions. There were 38.3 million returns with election to use the standard deduction for 1958, a decrease of 1.4 million returns from the number showing standard deduction the previous year.
In text table Q below, the number of returns for the income years 1958 and 1957 are distributed to show the type of deduction (standard or itemized) elected by the taxpayer, the form of return used, and three broad adjusted gross income groups. This distribution shows that there were 2.3 million fewer Form 1040 returns with adjusted gross income $5,000 under $10,000 for 1958 than for 1957- The broad income group $10,000 or more was the only one to show an increase in the number of Form 1040 returns.
Table Q also shows the number of returns with ad- justed gross income under $5,000 on which the income tax was determined from the tax table. These figures reveal that the tax table was used on 28.8 million returns, which is 48.7 percent of the total returns filed for 1958. This represents a drop from the previous year of over 1 million returns on which the income tax was determined from the tax table. Of these 28.8 million returns, 14.8 million were filed on Form 1040Aandl4 million were filed on Form 1040.
Table Q.— NUMBER OF RETURNS BY FORM OF RETURN: 1958 AND 1957 [Taxable and nontaxable returns]
Form of re:um, adjusted gross income group, and type of deduction |
1958 |
1957 |
Change, 1958 from 1957 |
(1) |
(2) |
(3) |
|
59,085,182 |
59,825,121 |
||
33,273,760 20,811,422 28,791,518 17,130,118 |
39,669,760 20,155,361 29,899,888 14,195,972 |
||
With itemized deduction ( lOAO only) Returns on which tax table was used (included above ) Form 1040A With standard deduction, total |
+556,061 -1,108.370 +2.934,146 |
||
2,291,377 41,955,054 |
45,529,149 |
||
Adjusted gross Income $5,000 or more Form 1040 |
+2.^91,377 |
||
22,517,378 15,612,264 3,825,422 21,143,642 |
24,240,534 17,397,743 3,490,372 25,473,788 |
||
Adjusted gross income $5,000 under $10,000 |
-2,285.479 |
||
With standard deduction, total |
-4,330,145 |
||
13,952.777 5,937,119 1,253,746 20,811,422 |
15,703,916 8,530,781 1,239,091 20.155.361 |
||
Adjusted gross income $5,000 under $10,000.. Adjusted gross income $10,000 or more With itemized deduction, total |
-2,593,552 +14,555 +556.061 |
||
8,564,601 9,675,145 2,571,676 |
8,536.618 9,356,962 2,251,781 |
+27,983 +308,183 +319,895 |
|
Adjusted gross income $5,000 under $10,000.. Adjusted gross income $10,000 or more |
Description of Sample
The data presented for individual income tax returns for 1958 were based on a stratified system- atic sample of all Forms 1040 and 1040A filed during 1959. The total sample consisted of 321,606 returns, about 0.54 percent of the total number filed for the year.
Sample selection- — Uniform methods of classifying returns by type of form, presence or absence of business income, size of adjusted gross income, and taxpayment status were prescribed for each of the 64 district offices and the International Operations Division in Washington, D. C, to facilitate the administrative processing of returns for collection and audit purposes. These classifications also provided effective sampling strata since the char- acteristics on which the strata were based correlated highly with the principal income and tax character- istics being estimated. The sample design was therefore adapted to fit these regular return sorting procedures. All returns with adjusted gross income of $50,000 or more were sent to the Statistics Division of the National Office where they were either sampled or accepted 100 percent. Returns with adjusted gross income under $50,000 were sam- pled in the field offices.
Within each of the strata, returns were assigned consecutive account numbers and the sample was selected systematically by withdrawing from the various strata all returns with designated account number endings. For example. Form 1040A returns were selected according to the prescribed rate of 1 in 500, by drawing returns having account numbers ending with 222 and 777.
Text table R shows the number of returns filed, the number of returns in the sample, and the pre- scribed sampling rate by sampling strata.
Table R.— NUMBER OF INDIVIDUAL INCOME TAX RETURNS FILED, NUMBER OF RETURNS IN SAMPLE, AND THE PRESCRIBED SAMPLING RATE BV SAMPLING STRATA
[Taxable and nontaxable returns]
Sampling strata |
Number of filed |
Number of in sample |
Prescribed sampling |
ill |
(2) |
13) |
|
59.197,824 |
321,506 |
||
Form 1040A Form 1040, adjusted gross income — Under $10,000: |
17,178,839 29,021,881 5,666,692 3,147,335 '2,585,935 ^1,145,447 47,508 45,327 4,355 4,231 349,135 128 |
33,602 85,739 15,272 9,159 '75,453 ^32,513 14,037 45,327 4,355 4,231 769 128 |
2/1,000 3/1,000 3/1,000 3/1,000 3/100 3/100 3/10 1/1 1/1 1/1 3/1,000 1/1 |
Schedule C Schedule F $10,000 under $50,000: Nonbusiness Schedules C and F $50,000 under $150,000: |
|||
Schedules C and F $150,000 and over: |
|||
Schedules C and F Prior year delinquent: Adjusted gross income under $50,000 Adjusted gross income $50,000 and over |
Method of estimation Estimates for all returns
filed were determined by multiplying the sample data by "weighting factors" obtained by dividing the number of sample returns received from each sampling stratum into the total number of returns filed in that stratum. For instance, the "weighting factor"
16
INDIVIDUAL INCOME TAX RETURNS FOR 1958
of 511.2'+ for Form 1040A returns was obtained by dividing the number of returns in the sample, 33,602, into the total number of returns filed, 17,178,839. The primary sources of population data were counts made and submitted by the district offices and the International Operations Division showing the number of Form lO'+O and 104.0A returns filed during the calendar year 19,59.
A comparison of the estimated number of returns shown in the national tables of this report with the number of returns reported filed in the district offices, as shown in text table R, will disclose slight differences. These differences occur for the following reasons: (1) An estimated 112,6<i2 returns were excluded from the tables because they showed no income information, (2) Form lO'+O returns were classified in the proper adjusted gross income size class regardless of the sampling strata to which they were assigned in the field offices and, (3) Weighted estimates were rounded .
Separate "weighting factors" were used for the national tabulations and for the State tabulations . Reports received from each field office showing the number of returns filed by sampling stratum were used to derive "weighting factors" for the State tabulations. The "weighting factors" for the national tabulations were based on the aggregate number of returns filed in each stratum throughout all field offices. The achieved sampling ratios varied suffi- ciently among districts to warrant using two separate series of weights . The use of two separate series of weights is the reason for slight differences be- tween totals in the tables showing distributions by States and corresponding items in the national tables .
Sampling variability. — The data from returns show- ing adjusted gross income of $150,000 or more are not subject to sampling variability since all such returns were Included in the sample. However, the estimates which include data from returns showing adjusted gross income under $150,000 are subject to sampling variability. Text table S below shows the range, in percent, that would not be exceeded in 19 out of 20 estimates, based on a similar sampling system, for number of returns with adjusted gross income, amounts of adjusted gross income, taxable income, and income tax after credits, as shown in basic table 1 of this report, by adjusted gross in- come classes. In the presentation of this table, it was assumed that account number selection within strata would yield results equivalent to simple random sampling.
Text table T shows, for estimates of number of returns, the range in percent that would not be exceeded in 19 out of 20 estimates, prepared from similarly selected samples . Sampling variability patterns are presented separately for each inde- pendent estimating stratum. For instance, if data from returns showing adjusted gross income under $10,000 reveal 100,000 returns having a certain characteristic, then the relative sampling error will be 11.7 percent. As another example, if data from returns showing adjusted gross income of $10,000 under $50,000 reveal 100,000 returns having a certain characteristic, then the relative sampling error of this estimate will be 3.6 percent.
Data have been deleted from the tables where the estimated relative sampling variability was judged to be excessive. Where such a deletion has been
Tables.— liEHTlVE S\MPLINfi V\RUBILITY s^iocialcd with B3limat«s presented in Basic TTbIc 1)
[Taxable and nontaxable returns ]
Returns with adjusted gros.
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
I under $2,500
500 under 000 under 500 under 000 under 500 under 000 under 000 under 000 under 000 under 000 under
$3,000.. $3,500.. $4,000.. $4,500.. $5,000.. $6,000.. $7,000.. $8,000.. $9,000.. $10,000.
$10,000 under $15,000... $15,000 under $20,000... $20,000 under $25,000... $25,000 under $50,000... $50,000 under $100,000. .
$100,000 under $159,000. $150,000 under $200,000. $200,000 under $500,000. $500,000 under $1,000,00 $1,000,000 or more
Total.
Estimated Tela
Not subjec as all the were sampled
Hot applicable
Table T.— RELMIVE SAMPLING V [Taxable |
ARIABILITV OF ESriM\TED NUMBER OF RETUR.VS and nontaxable returns] |
||||
stimated number of retu |
n>s |
Returns with adjusted gross income — |
|||
Under $10,000 |
$10,000 under $50,000 |
$50,000 under $150,000 |
|||
(1) |
(2) |
l3) |
|||
(P.r„„„ |
|||||
(0 (1) 51.6 37.1 30.1 26.2 23.4 16.6 11.7 5.2 1.'3 |
36.6 25.9 16.4 11.6 9.5 8.2 7.3 5.2 3.6 2.2 1.5 1.0 |
9.3 |
|||
7.0 |
|||||
4.3 |
|||||
3.0 |
|||||
'i'nnn |
2.4 |
||||
2.0 |
|||||
1.7 |
|||||
' -- |
1.0 |
||||
. ' _^. |
|||||
n.a. |
|||||
n.a. |
|||||
n.a. |
|||||
^Sample too small to yield reliable estimate of sampling variability.
made, the applicable cells have been appropriately footnoted .
Response and other nonsampling errors In proc- essing returns for collection purposes in the dis- trict offices and, later, in processing the sample of such returns for statistical purposes, several steps were taken to reduce taxpayer-reporting errors and other errors introduced in data processing operations. In the district offices, approximately 88 percent of all individual returns filed during 1959 were mathematically verified before they were made availablef or sample selection. Any corrections resulting from mathematical verification of the tax- payer's entries are reflected in the data tabulated.
In transcribing and tabulating the information from the sampled returns, additional checks were imposed to improve the quality of the resulting es- timates. Returns which showed data in accompanying schedules but not on appropriate return lines, com- munity property returns on which the "halving" of income was incorrectly computed, and returns with other obvious errors were edited and recording
INDIVIDUAL INCOME TAX RETURNS FOR 1958
17
errors amended. Mechanical transcribing was verified by the process of repeat card punching and, prior to tabulating, numerous tests for consistency were applied using an electronic computer, to assure that proper balance and relationship between return items and statistical classifications were maintained.
An intensive system of sample management and control was used to insure the selection of the pre- scribed sample and prevent any serious imdercoverage . Sample controls were maintained on a district basis by the most detailed sampling strata. In addition, a name control file for internal use only, containing a historical record of tax return information for certain taxpayers who annually report large incomes, provided a further check on the completeness of the sample.
Coverage was improved also by the inclusion of prior-year delinquent returns in the sample for the purpose of estimating data for 1958 returns that were filed after December 31, 1959. It was felt that the characteristics of 1958 returns filed too late to be included could best be represented by a sample of previous year delinquent returns filed during 1959. As can be seen in text table R, the number of delinquent returns filed during 1959 was nearly 350 thousand.
However, the controls maintained overthe selection of the sample and the processing of the source data in the field offices did not completely elimi- nate the possibility of error. Also, practical operating considerations necessitated allowance of reasonable tolerance in controlling the processing of these data within the Statistics Division.
EXPLANATION OF CLASSIFICATIONS AND TERMS Classifications
Income statistics presented in the basic tables of this report are classified by adjusted gross in- come classes, size of taxable income, taxable and nontaxable status, form of deduction (standard or itemized), marital status of taxpayer, types of tax, size of income source and deduction, total number of exemptions, and States and Territories.
Adjusted sross income classes. — The basis used for classifying data by size of income was the amount of adjusted gross income reported by the taxpayer on his return. Adjusted gross deficit and breakeven in adjusted gross income were classified as "No adjusted gross income." Whenever taxable and non- taxable data are tabulated together, the nontaxable data are distributed by class according to the amount of ad justed gross income shown on the return, although when tabulated separately, nontaxable data from re- turns with adjusted gross income of $5,000 or more are grouped in the nontaxable class, $5,000 or more.
Taxable and nontaxable status. — Taxable and non- taxable classifications were dependent upon the presence or absence of an amount of income tax after credits, disregarding the self-employment tax.
Taxable returns showed an income tax remaining after all allowable tax credits. Tax credits did not apply to returns. Form 104-OA.
Nontaxable returns were without income tax after credits. Some nontaxable returns showed income tax before credits which was eliminated by the tax credits.
Returns with standard deduction or with itemized deductions. — Returns with standard deduction in- cluded (1) all Form lO^OA returns, (2) Form 1040 returns with adjusted gross income under $5,000 on which the income tax was determined from the tax table, (3) Form 104-0 returns with adjusted gross income of $5,000 or more on which the standard deduction was elected by the taxpayer, and (4) all returns with no adjusted gross income whether or not deductions were itemized .
Returns with itemized deductions were Form 1040 returns with adjusted gross income against which nonbusiness deductions were claimed by the taxpayer in the computation of taxable income. In the case of married persons filing separately, both parties were required to use the same form of deduction, standard or itemized. In a relatively few instances where the husband claimed all the itemized deduc- tions, leaving the wife with no deductions to claim, the wife's return was also regarded as an itemized deduction return.
Taxable income classes This classification was
applied to returns with a positive amount of tax- able income upon which the size class was based. Taxable income was reported on all Form 1040 returns with adjusted gross income $5,000 or more, and on those Form 1040 returns with adjusted gross income under $5,000 with itemized deductions. It was com- puted mechanically for Form 1040 and Form 1040A returns with adjusted gross income under $5,000 where the tax table was used, and for Form 1040A returns with adjusted gross income of $5,000 under $10,000. The class intervals coincide with the tax- able income brackets of the three income tax rate schedules applying to (l) joint returns and returns of surviving spouse, (2) separate returns of hus- bands and wives and returns of single persons not head of household or surviving spouse, and (3) returns of head of household .
ivlarital status of taxpayer — Marital status was determined by the taxpayer as of the last day of his tax year or the date of the death of a spouse . The 5 marital classifications — joint returns of husbands and wives, separate returns of husbands and wives, returns of heads of household, returns of surviving spouse, and returns of other single persons — were based on the marital condition indi- cated by the taxpayer with regard to name (or names) of taxpayer, joint signatures, exemption for the taxpayer or for himself and spouse, check mark denoting status as head of household or surviving spouse, and any other relevant data.
Joint returns of husbands and wives were those on which a married couple reported their combined income, or returns of married persons only one of whom had income but, nevertheless, exemption for both could be claimed .
Separate returns of husbands and wives were returns of married persons, each of whom filed a return irrespective of his spouse and reported only his own income, exemption, and tax. Returns with community income divided between husband and wife were in- cluded in this classification.
Returns of heads of household were Form 1040 re- turns on which the taxpayer signified this status. Head of household is an unmarried person (or one married to a nonresident alien) who furnished more than half the maintenance of a home which was his
18
INDIVIDUAL INCOME TAX RETURNS FOR 1958
residence and which he shared with any related person for whom he was entitled to the deduction for an exemption (except multiple support), or shared with his unmarried child, grandchild, or stepchild even though not a dependent, or who paid over half the cost of maintaining a household which was the principal abode of his parents, if either of them qualified as a dependent.
Returns of surviving spouse were Form 1040 returns of widows and widowers who indicated this status. A surviving spouse is a taxpayer whose spouse died during either of the two preceding tax years and who had not remarried, but who had maintained as his home a household which was also the principal abode of his child or stepchild for whom the tax- payer was entitled to a deduction for exemption.
Returns of single persons not head of household or surviving spouse were those of unmarried indi- viduals who did not claim status as head of house- hold or surviving spouse.
Types of tax. — Returns wereclassif ied for the type of income tax reported, namely, the regular normal tax and surtax combined, or the alternative tax. In addition, returns with the unrelated self- employment tax were classified independently based on the presence of this tax.
Returns with normal tax and surtax were those showing the regular normal tax and surtax including returns with tax determined from the tax table. Normal tax and surtax was found on all types of re- turns except those with long-term capital gain on which the alternative tax was less than the regular normal tax and surtax.
Returns with alternative tax were returns with income that contained an excess of net long-term capital gain over net short-term capital loss and on which the tax computed by the alternative method was less than the regular normal tax and surtax on statutory taxable income. The alternative tax did not occur on returns with taxable income under $18,000.
Returns with self-employment tax were those with a tax levied on the self-employment income of per- sons owning and operating a business (including partnerships) that conformed to the definition of trade or business as required for self-employment tax purposes.
Size of specific income or loss. — For a frequency distribution of returns with certain sources of in- come or loss in adjusted gross income, returns were segregated according to the size of the specified income or loss. To provide adequate classification of small amounts, size intervals are narrow at the lower end of the scale.
Size of deduction. — For four significant item- ized deductions — contributions, interest, taxes, and medical deduction — returns were classified according to the size of each of these deductions for separate frequency distributions of returns showing these items.
Total number of exemptions. — The total number of exemptions for the taxpayer, his spouse, age, blindness, and dependents was used for a frequency distribution of returns. Return frequencies are tabulated for each marital status and for all re- turns. The range for total number of exemptions presented is: 1 through 5 total exemptions and 6 or more total exemptions for all returns and for
joint returns; and 1 through 3 total exemptions and 4 or more total exemptions in the case of separate returns of husbands and wives, heads of household, surviving spouse, and other single persons.
States and Territories. — This classification for the 48 States, 2 Territories, District of Columbia, and Other areas was determined from the 64 internal revenue districts in which returns were filed and from the International Operations Division of the National Office. Internal revenue districts, or groups of districts, are identical with State and Territory boundaries except that Alaska is in the Seattle, Washington district and the District of Columbia is in the Baltimore, Maryland district. Although Alaska and the District of Columbia are not separate districts, returns with these addresses were classified apart from other returns in the respective districts. The International Operations Division had charge of all returns with addresses outside the United States, Alaska, and Hawaii. These returns included those from Puerto Rico, Virgin Islands, Canal Zone, and returns with foreign ad- dresses, all of which were classified as "Other areas. "
This year, returns having post office addresses within the two Standard Metropolitan Areas of Detroit, Michigan, and Pittsburgh, Pennsylvania, were separated from other returns filed in the respective States. Selected data are tabulated for each metro- politan area. Detroit, Michigan Metropolitan Area embraces Macomb, Oakland, and Wayne Counties. Pittsburgh, Pennsylvania Metropolitan Area embraces Allegheny, Beaver, Washington, and Westmoreland Counties.
Sources Comprising Adjusted Gross Income
Salaries and wages (net) tabulated were amounts of compensation included in adjusted gross income, with the exception of wages (less than $200 per return) that were reported in other income on returns. Form 1040A. Net salaries and wages excluded pay- ments covering an absence from work because of sickness or personal injury. Also, travel, trans- portation and other expenses connected with employ- ment were deducted from gross salaries and wages if they were excludable from adjusted gross income. (See definition of adjusted gross income page, 18. ) Gross salaries and wages prior to these adjustments comprised the full amount of wages, salaries, fees, commissions, tips, bonuses, and other forms of pay- ment for services performed for the employer, in- cluding value of merchandise or property received in payment, as well as the reimbursed expenses received by the employee from his employer.
Dividends (after exclusions) were the domestic and foreign dividends reported in adjusted gross income on returns, Form 1040. These dividends comprised:
1. Qualifying domestic dividends consisting of —
a. Dividends from fully taxable corporations, received directly, or as a beneficiary of income from estates and trusts, or as a partner' s share of untaxed partnership net profit, together with
b. The entire net profit of an entrepreneur who elected to be taxed as a corporation, and the entire share of net profit from any partnership that elected to be so taxed, the total of which was re- duced by an exclusion not exceeding $50, and
INDIVIDUAL INCOME TAX RETURNS FOR 1958
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2. Nonqualifying dividends, foreign and domestic, from which no exclusion was permitted.
On joint returns, if both husband and wife received qualifying dividends, each excluded up to $50 against his respective dividends. Nonqualifying dividends were those from life or mutual insurance companies, China Trade Act corporations, certain corporations doing business in possessions of the United States, and foreign corporations.
Dividends did not include the so-called "dividends" on deposits or withdrawal accounts in mutual savings banks, cooperative banks, domestic building and loan or savings and loan associations. Federal savings and loan associations, and Federal credit unions. All such receipts were considered interest for in- come tax purposes.
Interest received was tabulated from returns, Form 104-0, only. This item included interest from bonds, debentures, notes, mortgages, and personal loans, interest received or credited on bank deposits, savings accounts, and deposits in the organizations mentioned above, as well as partially tax-exempt interest and interest from tax-free covenant bonds received directly or through partnerships and fiduciaries.
Business net profit or net loss was reported by individuals who were sole proprietors of a business, farm, or profession, and who did not elect to be taxed as a corporation. When there were two or more sole proprietorship activities during the year, the single amount of profit or loss tabulated in adjusted gross income represents the combined profits and losses from all business activities. The sole proprietor was required to exclude divi- dends from the business receipts and to report them with dividends for the purpose of dividend exclusion and tax credit.
Business expenses deductible from business re- ceipts included such items as cost of goods sold, salaries and wages paid employees, interest on business indebtedness, taxes on business and busi- ness property, bad debts arising from sales or services, depreciation including the additional first-year depreciation, obsolescence, depletion, casualty losses on business property, rent, repairs, supplies, advertising, selling expenses, insurance, and other costs of operating the business. Com- pensation of the sole proprietor was not allowed as business expense and the net operating loss deduction was not reported among the business de- ductions.
Partnership net profit or net loss was reported by persons who were members of a partnership, syndicate, joint venture, or association that did not elect to be taxed as a corporation. The part- ner's profit or loss from such a partnership was his share of the ordinary income or loss of the enterprise including the payments made to him as salary or for the use of capital. If the individual was a member of more than one partnership, the single amount of partnership profit or loss reported was the combination of all his shares, whether or not actually received. The ordinary income of the partnership did not include dividends qualifying for the exclusion, net short- and long-term capital gain or loss, interest on tax-free covenant bonds, nor partially exempt interest. The taxpayer's share of each of these items was reported in its respec- tive source.
Net gain from sales of capital assets included in adjusted gross income was the amount of gain from sales or exchanges of property treated as capital assets. In computing this gain, the net short-term gain or loss was combined with the net long-term gain or loss after which the net long-term gain or the excess of net long-term gain over net short- term loss was reduced 50 percent. For the determi- nation of net short- and long-term gain and loss, the taxpayer included with his personal current-year transactions his five-year capital loss carryover as a short-term loss, and his share of (1) net short- and long-term gain received through fiduci- aries, (2) net short- and long-term gain and loss from partnerships, (3) distributed and undistributed long-term gain of regulated investment companies, and (4-) the excess net long-term gain over net short-term loss distributed by corporations that elected not to be taxed as such. The amount of net gain reported in adjusted gross income conforms to one of several conditions, namely, (1) 50 percent of the excess net long-term gain over net short- term loss which occurred on certain returns, (2) on returns with only a net long-term gain, 50 percent thereof, (3) on returns with both net short- and long-term gain, the entire amount of net short-term gain combined with 50 percent of the net long-term gain, (4-) on returns with only a net short-term gain, the entire net gain, and (5) the entire ex- cess of net short-term gain over net long-term loss reported on other returns.
Net loss from sales of capital assets reported as a component of adjusted gross income was the de- ductible loss resulting from sales or exchanges of property treated as capital assets. To determine the deductible loss, all short-term gains and losses were merged with the long-term gains and losses, and the excess loss was allowed to the extent of the smallest of (1) amount of capital loss, (2) taxable income (ad justed gross income if tax table was used) computed without regard to capital gains and losses and the deduction for personal exemptions, or (3) $1,000. In merging the capital gains and losses, (1) net short- and long-term gain received through fiduciaries, (2) net short- and long-term gain and loss from partnerships, (3) distributed and undis- tributed long-term gain from regulated investment companies, and (4) the excess net long-term gain over net short-term loss distributed by corporations that elected not to be taxed as such, were combined with the taxpayer's current-year transactions and his five-year capital loss carryover. Any part of the capital loss incurred in the current year which was not deductible because of the limitation, may be carried forward into each of 5 succeeding years as a short-term capital loss until such time as it has been absorbed by capital gains or through the allowable capital loss deduction. If the capital loss carryover is not eliminated in the 5-year period, the remaining loss cannot be used.
Short-term applied to gains and losses from sales or exchanges of capital assets held six months or less. Such gains and losses for the current year and the capital loss carryovers from the five pre- ceding years (treated as short-term losses) were combined to obtain the net short-term gain or loss. In this combination the net short-term capital gain or loss from partnerships and the net short-term capital gain from fiduciaries were also included.
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
Long-term applied to gains and losses from sales or exchanges of assets held more than six months which were treated as capital assets. Such current year gains and losses, taken into account at 100 percent, were combined with net long-term capital gain or loss received through partnerships and net long-terra capital gain received through fiduciaries to obtain the net long-term gain or loss for the year.
Capital loss carryover from 1953-57 was that por- tion of the net capital loss sustained in this 5-year period which the taxpayer had been unable to offset against his capital gains, or the $1,000 deduction allowed for capital loss in computing adjusted gross income in tax years subsequent to the year in which the capital loss arose. The carryover was reported with and treated as a short- term capital loss in the current year.
Net loss from sales of capital assets before limitation was the entire loss, resulting from sales of property treated as capital assets, which was reported on returns having a capital loss in ad- justed gross income. The loss was a combination of current year short-term gains and lasses, the 5-year capital loss carryover, and the current year long- term gains and losses, and was without regard to the statutory limitation on the deductible capital loss
Net long-term capi tai ^ain in excess of net short- term capital loss was the entire excess long-term capital gain reported on returns with alternative tax.
One-half excess long-term gain was one-half of the excess of net long-term capital gain over net short-term capital loss. It was also the amount of capital gain included in adjusted gross income which, in the alternative tax computation, is sub- tracted from total taxable income to obtain the amount subject to partial tax, that is, to the normal tax and surtax rates. The 25 percent tax on capital gains was obtained by multiplying one-half excess long-term gain by 50 percent. The sum of tax computed at the normal tax and surtax rates and the capital gains tax equals the total tax obtained by the alternative tax method.
Net gain or net loss from sales of property other than capital assets reported in adjusted gross in- come resulted from sales or exchanges of property which were not treated as capital assets. The entire amount of net gain from these transactions was included, and the net loss was fully deducted, in computing adjusted gross income.
Pensions and annuities reported in adjusted gross income were only the taxable portion of amounts received during the income year. These taxable receipts were reported under two methods: (I) the general rule, referred to as the life-expectancy method, and (II) the three-year method.
The life-expectancy method included the entire receipts from noncontrlbutory annuities and pensions, that is, where the employee contributed none of the cost, and also included the taxable portion of receipts from contributory pensions and annuities if the cost would not be recovered within 3 years. Receipts from such contributory annuities were in- cluded in adjusted gross income to the extent that they exceeded an amount, representing cost, computed according to the actuarial formula provided by the Income Tax Regulations. Once the excludable cost has been determined, it remains constant throughout
the annuitant's lifetime. Contributory pensions and annuities were those where the employee contri- buted to the cost or was previously taxed on his employer's contribution and those received, for reason other than death of the insured, under an annuity, endowment, or life insurance contract.
The three-year method included taxable receipts from contributory pensions and annuities, but only if the employer also contributed to the cost and the employee's cost would be returned in 3 years or less. If both conditions were met, all receipts were ex- cluded from gross income until the employee recovered the amount contributed by him plus contributions ' made by his employer on which the employee was pre- viously taxed. Thereafter, all amounts received became fully taxable. This method also applied to an employee's beneficiary if the employee died before receiving any annuity or pension payments.
Net income or net loss from rents and royalties comprising a part of adjusted gross income was reported as a single item in the schedule provided for this purpose on the return. Consequently, the net income or loss available for tabulation repre- sented a combination of the income from both types of investments. Rents included not only rentals from real estate but also amounts received from renting any kind of property including farm rentals received in cash or crop shares. Royalties Included revenues from copyrights, patents, trademarks, formulas, natural resources under lease, and the like. Deductions against the gross receipts re- ceived from these investments were claimed for maintenance, repairs, interest, taxes, depreciation and depletion, obsolescence, and other expenses pertaining to the respective income.
Income or loss from estates and trusts was the taxpayer's share of fiduciary income from any estate or trust under which he was a beneficiary. Income from estates and trusts included amounts required to be distributed and amounts credited to the beneficiary's account from current year fidu- ciary income, whether or not actually received by him, as well as amounts paid to him. It also in- cluded his share of any accumulation distribution made by the fiduciary of a complex trust which distributed income accumulated in prior tax years. The beneficiary's share of estate and trust income was reduced by his share of depreciation before reporting the amount as part of his adjusted gross income. The taxpayer excluded from his fiduciary income his share of capital gain, dividends quali- fying for the exclusion, and partially exempt interest, each of which was reported in its respec- tive source. A loss from estates and trusts was distributed to the beneficiary only upon termina- tion of a trust or an estate which had a net operating loss carryover, or a capital loss carry- over, or for its last tax year had deductions (other than exemption and charitable deduction) in excess of gross income.
Other sources of income included such items as alimony received, prizes, awards, sweepstakes win- nings, gambling profits, recovery of bad debts and taxes deducted in a prior year, insurance received as reimbursement for medical expenses taken in a previous year, and any other income subject to tax for which no entry was provided on the return form. A new item reported in other sources was the tax- payer's share of distributed or undistributed current-year taxable income (exclusive of long-term
INDIVIDUAL INCOME TAX RETURNS FOR 1958
21
capital gain) received from a small business corpo- ration which elected not to be taxed as a corporation. A total of $38,880,000 consisting of interest, dividends after exclusions, and wages not subject to income tax withholding was also included. Such income not exceeding $200 per return was reported in one sum as other income on 580,765 returns. Form 104-OA. For the purpose of a balanced adjusted gross income on returns. Form 1040, where a net operating loss deduction was claimed in computing adjusted gross income, the amount reported in other sources was reduced by the amount of net operating loss deduction.
Income attributable to several tax years which was reported by the taxpayer in his current year return was included in its entirety, even though the in- come was earned over a period of time including prior tax years and thereby afforded special tax treatment. Income attributable to several tax years originated from (a) back pay received for work per- formed in previous years, if the back pay exceeded 15 percent of gross income for the tax year, (b) inventions or artistic works, the creation of which required not less than 2K months and for which in- come received in the current year was at least 80 percent of the aggregate gross income received for the work, and (c) compensation received for long- term services performed by an individual or a partner over a period of 36 months or more, if the amount received within the tax year was at least 80 percent of the total compensation received for the services. For income tax purposes, such income was spread over specified periods, and the tax on the amount received in the current year was limited to the additional taxes that would have been paid for the years involved if the compensation had been in- cluded ratably in income over the period of the services.
In addition to the earned income mentioned above, two other types of income had tax treatment that spread or averaged the income over a number of years. Gain realized from lump-sum payment at maturity of endowment or life insurance contracts was spread one-third in the current year and each of the two preceding years to determine the minimum income tax. An accumulation distribution from a complex trust, also, was thrown back to the tax years in which the income was deemed to have been received by the trust, if this method resulted in a lower income tax to the beneficiary. Regardless of these tax adjustments, the entire amount of such income reported by the taxpayer was tabulated in whatever source reported.
Itemized Nonbusiness Deductions
Contributions deductible from adjusted gross in- come consisted of gifts to organizations created in the United States or its possessions, or under our laws, and operated for religious, charitable, scientific, literary, or educational purposes ex- clusively, or for the prevention of cruelty to children or animals, and gifts made to veterans' organizations or to governmental agencies which use the gifts for public purposes. Individuals who were members of a partnership also included their pro rata share of contributions made by their part- nerships. The deduction could not exceed 20 percent of the adjusted gross income, except that an addi- tional amount, not in excess of 10 percent of
adjusted gross income, was allowed for contributions made to churches, conventions or associations of churches (including the Salvation Army), tax-exempt educational institutions, tax-exempt hospitals, and certain organizations engaged in continuous medical research in conjunction with hospitals. Under specified conditions, there was an unlimited deduction for contributions.
Interest paid was deductible interest paid on personal debts, mortgages, bank loans, and install- ment purchases of real or personal property, but did not include interest on money borrowed to buy tax-exempt securities or single premium life in- surance and endowment contracts. Interest relating to business, royalties, and rentals was reported in those schedules.
Taxes allowed as a deduction from adjusted gross income included personal property taxes, State in- come taxes, certain State and local retail sales taxes. State gasoline taxes, automobile license fees, taxes paid to foreign countries or possessions of the United States unless a foreign tax credit was claimed, and real estate taxes except those levied for improvements that tended to increase the value of the property. Federal taxes were not de- ductible. Taxes paid on business property were reported in the business and rent and royalties schedules.
Medical and dental expense was allowed as a de- duction from adjusted gross income with limitations. Expenditures considered for this deduction were the actual amounts paid during the tax year regardless of when the expense arose, for the health care of the taxpayer, his spouse, dependents, and any other person who could be claimed as a dependent except for the fact that he or she had $600 or more gross in- come or filed a joint return with his or her spouse. Such expenses included payments to physicians, sur- geons, dentists, nurses, oculists, chiropractors, osteopaths, hospitals, premiums paid on health and hospital insurance, cost of x-rays, laboratory fees, diagnoses, therapy treatments, psychiatric care, den- tures, crutches, hearing aids, and so on. Any sick and health insurance or hospital coverage received reduced the total medical expenses. The amount paid for drugs and medicines could be included in medical expenses only to the extent that it exceeded 1 per- cent of adjusted gross income. The deductible expense for medical care and drugs was the amount of such expenses in excess of 3 percent of adjusted gross income, if within the maximum limitation for this deduction.
The maximum deduction allowed was ^2,500 multi- plied by the number of exemptions other than those for age and blindness, but could not exceed $10,000 for husband and wife filing a joint return, for head of household, or for surviving spouse, nor could it exceed $5,000 for other single persons or married persons filing separate returns. However, there were special rules for any person who was 65 years or over and for a married couple who filed a joint return if either was 65 or over. In these cases, the medical deduction for the taxpayer and spouse was not limited to the excess of 3 percent of adjusted gross income, but their medical ex- penses were allowed in full. Nevertheless, for other limitations for drugs and medicines, for dependent's medical expenses, and for maximum de- duction remained the same as set out above, unless the taxpayer or spouse was disabled. If 65 years
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
or over and disabled, head of household, surviving spouse, other single persons, and married persons filing separate returns were allowed a maximum deduction not in excess of $15,000. If on a joint return, only one spouse was 65 or over and disabled, the maximum was still $15,000. If both were 65 or over and both disabled, the maximum allowance was $30,000, but no more than $15,000 medical expense for each could be taken.
Other deductions included all other authorized nonbusiness deductions against adjusted gross in- come not elsewhere reported. Form 1040 for 1958 did not carry a separate schedule for child care nor for casualty losses. Therefore, other deduc- tions included the limited deduction for child care paid by employed women and widowers; loss from theft; casualty losses resulting from fire, storm, and other physical forces; and uninsured casualty and theft losses of business property and capital assets held for production of income for more than 6 months. Other deductible items were payments of alimony; expenses incurred in the collection of income or for management, conservation, or mainte- nance of property held for production of income subject to tax; taxpayer's share of interest and taxes paid by a cooperative apartment corporation; gambling losses not in excess of winnings reported in income; amortization of bond premium; expenses connected with taxpayer's employment, for example, dues to unions or professional societies, cost of tools and supplies for the job, and fees to employ- ment agencies; allowable expenses of taxpayer in connection with his employer's business which were in excess of the reimbursed amounts deducted from gross salaries; and expenses of education undertaken to maintain or improve skills required to perform duties of present employment status.
Exemptions
A deduction was allowed for personal exemption, exemption for dependents, and additional exemptions for age and blindness, in computing taxable income. The per capita exemption was $600 for the taxpayer and for his spouse if a joint return was filed, and for each son or daughter (including stepchild or adopted child) who was under 19 years of age or who was a student regardless of age, if the taxpayer furnished more than half of the support. If the child was 19 or over and not a student, exemption was allowed only if the child had less than $600 gross income and the taxpayer met the support test. Also a per capita exemption was allowed for each dependent, specified below, with less than $600 gross income who received more than half of his support from the taxpayer. To qualify as a depen- dent, the individual must have been a citizen or resident of the United States, or a resident of Canada, Mexico, Panama Canal Zone, the Republic of Panama, or under certain circumstances the Republic of the Philippines. Special provision was made in the 1958 Technical Amemdments Act for an exemption for an alien child adopted and living in the home of parents who are citizens residing abroad.
Additional exemptions of $600 for age 65 or over and $600 for blindness were allowed for the tax- payer and, if a joint return was filed, the taxpayer's spouse. These additional exemptions were not allowed for dependents.
If the income and dependency qualifications and the support test were met, an exemption of $600
was allowed for parent, grandparent, or other direct ancestor; grandson, granddaughter, or other direct descendant; brother, sister, half brother, half sister; stepmother, stepfather, stepbrother, stepsister; mother-in-law, father-in-law, brother- in-law, sister-in-law, son-in-law, daughter-in-law; uncle, aunt, nephew, or niece if related by blood; and any person who lived in the taxpayer's home for the entire year and who was a member of his household, whether or not related to the taxpayer. Birth or death during the year did not eliminate a dependent if the support and other tests were met for the part of the year during which the dependent lived.
An exception to the support test for a dependent provided that where an individual was supported by several persons none of whom contributed more than half, any one of the group who had contributed more than 10 percent of the total support could claim the exemption if each of the others who had contri- buted more than 10 percent, declared in writing that he would not claim the exemption for the year.
The number of exemptions and amount claimed, shown in this report, contain exemptions for all returns and include the exemptions automatically allowed through use of the tax table. There is some duplication of exemptions because (a) dependents with less than $600 gross income containing wages subject to income tax withholding filed a return to claim refund of tax, and (b) children dependents under 19 years of age and dependent children 19 years or over, who had gross income of $600 or more filed a return since their income met the require- ment for filing. Exemptions claimed on returns filed by these dependents were tabulated, as well as exemptions for the same dependents reported on re- turns of taxpayers rightfully claiming the depen- dents.
Measures of Individual Income
Adjusted gross income was gross income from all sources subject to income tax minus (a) ordinary and necessary expenses of operating a trade or business, (b) deductions attributable to rents and royalties, (c) expenses of outside salesmen attri- butable to earning salary or other compensation, (d) expenses of travel, meals, and lodging while away from home over night paid by an employee with respect to services rendered, (e) transportation costs related to the performance of services as an employee, (f) expenses paid or incurred in connec- tion with service as an employee under a reimbursed or other expense allowance arrangement with the employer, (g) exclusion for sick pay if the sick pay was included in gross salary, (h) depreciation and depletion allowed life tenants and income bene- ficiaries of property held in trust, (i) deductible losses from sales of capital assets and other property, (j) deduction equal to 50 percent of the excess of net long-term capital gain over net-short- term capital loss, and fk) net operating loss deduction.
Adjusted gross deficit occurred in the event that the deductions allowed for the computation of ad- justed gross income, stated above, exceeded the gross income.
Taxable income was adjusted gross income minus deductions, standard or itemized, and personal ex- emptions. The amount of taxable income shown throughout this report includes fa) the taxable in-
INDIVIDUAL INCOME TAX RETURNS FOR 1958
23
come reported on Form 104-0 by taxpayers who itemized their nonbusiness deductions, regardless of the amount of adjusted gross income, and by taxpayers with $5,000 or more adjusted gross income who used the standard deduction, all of whom entered their taxable income on the return and (b) a mechanically computed amount of taxable income for taxpayers who were not required to enter the amount of taxable Income on the return. Taxpayers who did not enter taxable income on the return itself were (1) those with adjusted gross income under $5,000 whose tax was determined from the tax table, whether filed on Form 1040 or 1040A, and (2) those with adjusted gross income of $5,000 under $10,000 who filed Form lO'+OA and computed the income tax, using standard deduction and regular tax rates, in a tax computa- tion schedule which they retained. The taxable income was not required to be transferred to the card-form itself.
In order that so significant an item as the tax base be presented for all taxpayers, the taxable income was computed for each return which lacked this important amount. Taxable income for tax- payers who employed the tax table was computed by (a) using the midpoint of the adjusted gross income bracket of the tax table into which the adjusted gross income fell as the amount of adjusted gross income, (b) providing a 10 percent standard deduc- tion based on the midpoint, and (c) allowing $600 for each exemption claimed. This formula produced the amount of taxable income upon which the tax- payer's tax was based by way of the tax table. Taxable income for taxpayers with adjusted gross income of $5,000 under $10,000 who filed Form 1040A was computed by (a) using the total income re- ported, (b) deducting 10 percent of the total income as the standard deduction but limited to $500 in the case of a separate return of husband or wife, and (c) allowing $600 for each exemption. This formula provided the amount of taxable income used by the taxpayer in his retained tax computa- tion schedule. If these computations resulted in a negative amount of taxable income, it was not used. Taxable income computed for the above tax- payers is the only item in the tabulations which was not reported on the return themselves.
Taxable income for partial tax, which occurred only on returns where the alternative tax was im- posed, was tabulated for the first time this year. Taxable income for partial tax was that part of taxable income subjected to normal tax and surtax rates in the computation of alternative tax. The amount of taxable income for partial tax was the regular taxable income reduced by an amount equal to fa) 50 percent of the net long-term capital gain, or (b) 50 percent of the excess of net long- term capital gain over the net short-term capital loss. Therefore, it excluded all long-term capital gain, but included the net short-term capital gain which was taxed at normal tax and surtax rates along with ordinary income.
Tax Items
Income tax rates on 1958 income remained the same as for the previous year, that is, 20 percent of the first $2,000 of taxable income, increasing to 91 percent of taxable income in excess of $200,000 for all persons except heads of household, in which case the maximum rate applied to taxable
income in excess of 4-300, 000. Under the split- income provision, however, the 91 percent rate was effective only on taxable income in excess of $400,000 on joint returns and returns of surviving spouse. In any case, the maximum income tax before credits was limited to 87 percent of the taxable income.
Income tax before credits was based on taxable income and calculated at the prescribed rates. It was either the regular normal tax and surtax com- bined, or tax from the tax table, or the alternative tax, before such amounts were reduced by tax credits. It did not include the self-employment tax.
Normal tax and surtax was the income tax based on taxable income, computed at the regular rates, that is, the 3 percent normal tax rate combined with the graduated surtax rates. Regular normal tax and surtax occurred on returns where tax was determined from the tax table, whether Form 1040 or 104-OA, and on other Form 1040 returns if the al- ternative tax was not applicable.
Alternative tax was imposed in the case of tax- payers who had an excess of net long-term capital gain over net short-term capital loss, but only if the alternative tax was less than the regular normal tax and surtax. The alternative tax method of computation was the sum of (1) a partial tax com- puted at the regular rates on taxable income reduced by 50 percent of the excess long-term cap- ital gain over net short-term capital loss, and (2) an amount equal to 25 percent of the entire excess. Alternative tax was not effective on tax- able income under $36,000 reported jointly or by surviving spouse, $24,000 reported by head of household, nor $18,000 reported by other persons on separate returns.
Tax credit for dividends received was allowed for qualifying domestic dividends included in ad- justed gross income. This tax credit was 4 percent of such dividends but could not exceed the smaller of (a) income tax reduced by foreign tax credit, or (b) 4 percent of the taxable income.
Tax credit for retirement income was allowed against the income tax if the taxpayer qualified with respect to earned income in prior years. This tax credit was 20 percent of the retirement income, as defined by the Code, with a maximum credit of $240 for each retiree. If eligible, both husband and wife claimed the credit on a joint return. However, the credit could not exceed the income tax reduced by the two interest credits, foreign tax credit, and dividends received credit.
Tax credit for foreign tax paid was permitted against the income tax only if nonbusiness deduc- tions were itemized and the foreign tax excluded from those deductions. The credit related to in- come and profits taxes paid to foreign countries or possessions of the United States, and included the taxpayer's share of such taxes paid through partnerships and fiduciaries. This tax credit was limited to the same proportion of the income tax before credits as the taxable income from foreign sources bore to the entire taxable income, but could not exceed the amount of foreign tax paid.
Other tax credits were those for tax paid at source on interest from tax-free convenant bonds, and credit for partially tax-exempt interest, al- lowed only if nonbusiness deductions were itemized. Also included was any "throwback tax credit"
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
claimed, on either standard or itemized deduction returns, by a beneficiary of an accumulation dis- tribution from a complex trust.
Credit was allowed for tax withheld at source by the issuing corporations on tax-free covenant bond interest. The issuing corporation was required to withhold 2 percent of the total interest earned. The taxpayer also included his share of this credit alloted to him through partnerships and fiduciaries.
Partially tax-exempt interest credit, allowed for interest on certain securities of the United States, was 3 percent of the amount of partially exempt interest included in adjusted gross Income reduced by the itemized deduction for amortization of bond premium on the bonds. But the credit could not ex- ceed the smaller of (a) 3 percent of the taxable income, or (b) income tax reduced by the credits for foreign tax paid and for dividends received.
The throwback tax credit was the beneficiary's pro rata portion of taxes paid by a complex trust in preceding tax years. Taxes paid on accumulation distributions deemed distributed in prior years were not refunded to the trust but were allowed as a credit against the tax of the beneficiaries to whom distributions were made. Credit in excess of total tax liability of the beneficiary was treated as an overpayment and as such was refundable.
Income tax after credits was the amount of income tax liability reported on the return exclusive of the self -employment tax. It was after the deduc- tion of all tax credits, but prior to the year-end adjustments for tax withheld from wages and payments on declaration of estimated tax which determined the overpayment of tax due status. Income tax after credits was the criteria for classifying taxable and nontaxable returns.
Self -employment tax was reported by each indivi- dual who had self-employment income derived from solely owned trade or business and from his share of partnership income even though the enterprises elected to be taxed as a corporation. Certain types of income and deductions were not allowed in computing self -employment earnings, such as invest- ment income, capital gain or loss, net operating loss deduction, and casualty losses. The maximum amount subject to social security self-employment tax was $'+,200, although this maximum was reduced by the amount of wages received on which the so- cial security employee tax had been withheld by an employer. No exemption was allowed against the self-employment income subject to tax and the tax rate was 3 3/8 percent. This tax was paid regard- less of the taxpayer's age and even though social security benefits were received.
Tax withheld, most of which was the income tax withheld from wages, also included the excess social security employee tax and credit for tax paid by a regulated investment company on undistributed capital gain. Income tax withheld from wages by employers was prescribed in withholding tables or was increased by agreement between employer and em- ployee. Withholding of social security employee tax in excess of $94.50 occurred in some cases where the employee worked for more than one employer during the year. Income tax on capital gain re- tained by a regiilated investment company was paid by the company and the taxpayer was allowed tax
credit or refund for his proportionate share of the tax.
Payments on 1958 declaration of estimated income tax were reported only on Form 1040. Payments on declaration also included the credit for an over- payment of the 1957 tax liability. Whether a taxpayer made payments on a declaration depended on the balance of estimated tax due after deducting his CI) estimated income tax to be withheld and (2) credit for prior-year tax overpayment. The prior- year tax overpayment credit was carried directly to Form 1040. Many declarations were nontaxable in the first instance. Others had no balance of estimated tax after deducting the estimated income tax to be withheld. Still others had a balance of estimated tax after deducting the estimated income tax to be withheld, but this balance was less than the prior-year tax overpayment credit. None of these taxpayers made payments on the declaration, although in the last type of case, the taxpayer carried the prior-year overpayment credit to his Form 1040. On declarations where a balance of es- timated tax due remained after deducting (1) the estimated income tax to be withheld and (2) the prior-year tax overpayment credit, the taxpayer made payments on the declaration. The prior-year overpayment credit and the payments on declaration were reported in one sum on Form 1040.
In general, a taxpayer whose income consisted of wages subject to income tax withholding and not more than $100 of other income was required to file a Declaration of Estimated Tax, Form 1040-ES, if gross income could reasonably be expected to exceed (a) $10,000 in the case of a head of household or surviving spouse, (b) $5,000 in the case of other single persons or a married person filing sepa- rately, and (c) $5,000 in the case of a married person entitled to file a joint declaration and the combined income of husband and wife exceeded $10,000. Also, if income from sources other than wages sub- ject to income tax withholding could reasonable be expected to exceed $100, a declaration was required if total income was estimated to exceed $600 multi- plied by the number of total exemptions, plus $400.
Tax due at time of filing was reported if the income tax withheld from wages and the payments on declaration (together with other items included therein) plus all current year tax credits were less than the income tax before credits combined with the self -employment tax.
Overpayment of tax occurred when the sum of all tax credits, income tax withheld from wages, and payments on declaration (as previously described) exceeded the combined income tax before credits and the self-employment tax. On Form 1040A, an overpayment of tax resulted in a refund. On Form 1040, the taxpayer who overpaid his tax could elect to receive: (1) a refund, (2) a credit on the subsequent year's estimated tax, or (3) a com- bination refund and credit.
Refund of tax included all overpayments on Form 1040A returns and the portion of overpayment which taxpayers requested as refund on returns, Form 1040.
Credit on 1959 tax was the amount of 1958 tax overpayment on returns. Form 1040, which the tax- payers specified be credited toward their estimated income tax for 1959.
BASIC TABLES INDIVIDUAL RETURNS. 1958
Page
1. Number of returns, adjusted gross income, taxable income, and
income tax,- by adjusted gross income classes and classes cumulated 27
2. Sources of income and loss by returns with standard or item-
ized deductions 28
3. Sources of income and loss and nonbusiness deductions, by
adjusted gross income classes 29
4-. Sources of income and loss, exemptions, taxable income, and tax items — all returns , joint returns, and returns of single persons not head of household or surviving spouse, by ad- justed gross income classes 30
5. Returns with itemized deductions — adjusted gross income, item-
ized deductions, exemptions, taxable income, and tax items,
by adjusted gross income classes U2
6. Number of returns for selected sources of income or loss by
size of source <M-
7. Number of returns for specified nonbusiness deductions by
size of deduction 48
8. Returns with taxable income — taxable income, income tax, and
tax credits, by taxable income classes for applicable tax rates 50
9. Returns with income tax — adjusted gross income, taxable in-
come, income tax, average tax, and effective tax rate, by adjusted gross income classes and types of income tax 52
10. Adjusted gross income, exemptions, taxable income, Eind in-
come tax — all returns, returns with standard deduction, and returns with itemized deductions, by adjusted gross income classes and by marital status of taxpayer 53
11. Number of returns by adjusted gross income classes, by total
number of exemptions, and by marital status of taxpayer.... 59
12. Capital gains and losses, short- and long-term, and capital
loss carryover, by adjusted gross income classes 62
13. Returns with self -employment tax — adjusted gross income, in-
come tax, and self-employment tax, by adjusted gross
income classes 6<+
14-. Returns with self-employment tax — adjusted gross income and
self-emplojrment tax, by States and Territories 65
15. Selected sources of income, adjusted gross income, taxable in-
come, and income tax, by States and Territories 66
16. Adjusted gross income and income tax, by adjusted gross income
classes and by States and Territories 67
25
INDIVIDUAL INCOME TAX RETURNS FOR 1958
27
Table 1.— NUMBER OF RETURNS, ADJUSTED GROSS INCOME, TAXABLE INCOME, AND INCOME TAX, BY ADJUSTED GROSS INCOME CLASSES AND CLASSES CUMULATED
[Taxable and nontaxable returns J
ADJUSTED GROSS INCOE CLASSES
$600 under $1,000
$1 ,000 under $1 , 500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $3,500
$3,500 under $4,000
$4,000 under $4,500
$4,500 under $5,000
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $9,000
$8,000 under $9,000
$9,000 under $10,000
$10,000 under $15.000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total
Returns with no adjusted gross Grsnd total
CUMULATED FRCM LOWEST ADJUSTED GROSS INCCME CLASS Returns with adjusted gross income:
Under
■ $1,000..
■ $1,500..
■ $2,000..
■ $2,500.. $3,000.. $3,500.. $4,000.. $4,500.. $5,000..
■ $6,000..
■ $7,000..
■ $8,000..
• $9,000..
• $10,000. 000.
• $20
Under $100,000.
Under
$150,000... $200,000... $500,000... $1,000,000.
Returns with no adjusted gr Total returns
CUMJLATED FROM HIGHEST ADJUSTED GROSS INCCME CLASS
$500,000 . $200,000 ( $150,000 . $100,000 (
$10,000 < $9,000 o: $8,000 01 $7,000 O! $6,000 oi $5,000 01 $4,500 oi $4,000 01 $3,500 01 $3,000 oi $2,500 oi $2,000 oi $1,500 01 $1,000 01 $600 or 1 All retui Returns wi- Total retui
i, 950,030 1,060,247 ,120,276 1,570,536 1,689,218 1,723,909 1,742,848 1,729,578 1,745,242 1,639,977 1,375,555 ,676,947 1,226,844 ',171,701 ,452,594
,488,095 583,262 264,732 369,939 91,715 14,080
58,700,924 334,258
1,950,030 ',010,277 ,130,553
5,278,1 7,449,' 10,676,: 15,353, a,729,(
25,369,1 29,114,; 32,843,1 36,586,' 40,310,1 43,999,1 47,570,. 51,690,1 54,750,1 58,700,1
1,276,547 2,446,545 5,130,735 6,238,242 8,309,041
10,228,363 12,151,696 13,993,172 15,906,540 17,284,356 34,898,888 30,257,563 24,101,749 18,379,327 13,746,399
1,647,892 661,634
1,114,707 359,724 499,249
282,166,418 ^1,012,326
957,554 1,556,491 2,383,725 3,424,1 4,464,313 5,556,243 6,869,989 7,757,425 16,561,375 15,725,994 13,646,249 11,059,382 3,773,922 20,026,941 7,484,786 4,552,214 9,974,924 4,987,211
1,348,600 529,512 862,534 274,855 364,825
38,062 190,127 305,682 466,973
671,815 885,734 1,112,033 1,382,118 1,563,208 3,336,990 3,177,815 2,778,601 2,273,624 1,822,007
689,633 291,744 515,853
174,941 233,159
149,337,414
'281,154,092
357, 'JO.. |
„ |
|
586,642 |
50 |
c |
331,384 |
56 |
R |
971,361 |
63 |
0 |
347,416 |
73 |
8 |
024,363 |
81 |
a |
251,207 |
87 |
3 |
422,908 |
91 |
0 |
375, 502 |
93 |
5 |
363,597 |
97 |
7 |
951,859 |
98 |
7 |
216,591 |
99 |
2 |
586,530 |
99 |
3 |
673,245 |
99 |
9 |
692,:-;; |
I adjusted gross
1,276,547 11.9 3,723,092
8,853,827
15,092,069 .'3,401,110
33,629,473 45,731,169 59,779,341 75,685,881 92,970,237
127,869,125 158,126.688 182,228,437 200,607,764 214,354,163 243,563,354 253,623,824 259,505,231 271,833,160 277,883,212 279,531,104
;eo,i92,738
. «,X7,445 .31,667,169 ,82,166,413 ^1,012,326 ^231,154,092
499,249
358,973
1,973,680
2,635,314
4,283,206
10,333,258
22,661,187
28,542,594
38,598,064
67,812,255
81,553,654
99,937,981
124,039, 7X
154,297,293
189,196,181
206,430,537
222,387,077
236,385,249
248,536,945
258,765,308
267,074, X9 273.312,591 278,443,326
280,889,871
232,166,418
'1,012,326
^281,154,092
11.9 16.2 21.2 26.8 32.9
45.3 56.0 64.6
71.1 76.0
99.1 99.3 99.7 99.8
100.0
18.2 26.2 37.0
191,664 1,149,218 2,705,709 5,089,434 8,514,120 12,978,' 18,534,676 25,404,665 33,162,090 49,723,465 65,449,459 79,097,708 90,157,090 98,931,012 113,957,953 126,442,739 130,994,953 140,969,877 145,957,1 147,305,688 147,835,200 148,697,734 148,972,589 149,337,414
364,825
639,680
1,502,214
2,031,726
3,330,326
3,367,537
13,342,461
22,394,675
30,379,461
50,406,402
59,180,324
70,239,706
83,887,955
99,613,949
116,175,324
123,932,749
130,802,738
136,358,931
140,823,294
144,247,930
146,631,705
143,188,196
149,145,750
149,337,414
149,337,414
33.3 43.8 53.0 60.4 66.2 79.7 84.7 87.7 94.4 97.7 98.6 99.0 99.6 99.8 100.0
12.3 15.3 20.3 33.3 39.6 47.0 56.2 66.7 77.8 83.0 87.6 91.3 94.3 96.6 98.2 99.2 99.9 100.0 100.0
38,062
228,189
533,871
1,000,844
1,672,659 2,558,443 3,670,476 5,052,594 6,615,802 9,952,792 13,130,607 15,909,208 18,182,832 20,004,839 24,296,232 26,053,294 27,221,837 30,323,659 32,430,317 33,119,950 33,411,694 33,927,552 34,102,493 34,335,652
233,159 408,100 923,958 1,215,702 1,905,335 4,011,993 7,113,815 8,282,353 10,039,420 14,330,813 16,152,820 13,426,4 21,205,045 24,332,360 27,719,350 29,233,058 30,665,176 31,777,209 32,562,993 33.334,808
33,301,781 34,107,463 34,297,590 34,335,652 34,335,652
less adjusted gross defici
28
INDIVIDUAL INCOME TAX RETURNS FOR 1958
-SOURCES OF INCOME AND LOSS BY RETURNS WITH STANDARD OR ITEMIZED DEDUCTIONS
[Taxable and nontaxable returns]
Showing adjusted gross
Showing no adjusted gross
Salaries and wages (net)
Dividends (after exclusion) ;
Interest received
Business or profession:
Net profit
Net loss
Partnership:
Net profit
Net loss
Sales of capital assets:
Net gain
Net loss
Sales of property other than capital assets:
Net gain
Net loss.
Pensions and annuities:
Life expectancy method
3-year method
Rents and royalties:
Net Income
Net loss
Estates and trusts:
Other sources
Adjusted gross income or deficit
See text for "Description of Sample" and "Explanation of Classificat
^Sample variability is too large to warrant showing separately. How
^Not available.
^Negative "Other sources. "
^Adjusted gross income less adjusted gross deficit.
'Adjusted gross deficit.
51,588,438 4,235,017 7,407,870
227,550,557 8,740,562 3,659,211
1,909,920 *281,154,092
33,184,330 1,779,887 3,425,729
i, 424 ,459 ,497,949 ,353,679
8o5,967 .,807,4
deleted for ■
92,113 27,788 51,825
'280,732 '1,012,326
18,311,995 2,427,342 3,930,316
111,929,637 7,204,731 2,264,674
1,324,685
145,358.961
INDIVIDUAL INCOME TAX RETURNS FOR 1958
29
-g^«^ opr-r>-sr3
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jto<^'^ SoSom or
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oto-4-o--j •^t*-r~-D-'D coc*--jf---f iAo\irt-ju% "Aior^f^c^- f-ivrc^.HO -.ft-ic^TOsr ojtoOiHOj o*oc-od- r->r<>-*tcj
5 w ^ ^ oj 8^
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1?:?:^ §§«"9 S^w^S ^^5^. ^ l^i-
tHOOr-cn-t ■£> r-l U' f\l ■^ So^OO'fiCM -^(nCOrHrH rj'DrHO-}
aOo^OC-- r-soo^Q-4- -*0(^i-itv c--<(MiftO ^rjHooc f^ O tD N »A >0 u-i 3S OJ rt to OO rH Ov t> N O 00 nT M ^ rH tt) C
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,^^« ^^^"^ «^^^^ mil §§|§c i§i §§§§§ §§§§§ SSSSS o^„o?
30
INDIVIDUAL INCOME TAX RETURNS FOR 1958
^ e^
gs
1^
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
31
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CNJUSt^ -^O^Q^-H «-
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§ : i
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l^sll lllsl Isssl iiiii „„„„8 M " S o«,egg gggogi, -h -o ■e--o
OJ-adds dasad 3d333 ooooo SooS a -^c 333d3o to q SJa
3000 ooooo QOQQO O O O d O OOOOO O !o-^ 3oOO OOOOOO O t ^-t/X*
QJOOO OOgOO OOOOO ooooo .---o tH O-O *H OOO OOOOOO H O WMW
>«■«■■»-<*«» <**»«»-*ft*i *»***»*»«■ «*^«»-t<»«» wS-w*«*^ cz 5-^S^*» *^SS^^^ 555
32
INDIVIDUAL INCOME TAX RETURNS FOR 1958
i i;
5 ^:
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2 ^ f
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at.'O'Otj -S'S-O'O'D -D'C-O-O-n CCGCC §§§§0
t^SSSS SSSSS SSSSS 33333 ffffi
§§ §§§§! §§§§§
iiii mil
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
33
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s i;
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S^ -^ 2: "^ r- «0 00 c-> St <M O D- (-\ Q O r o I^ ^S^^ ;g t^ '^ c^ ov o* o S in .1
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S^§§§ §§§§§
x^-<'3--c»-^ i4-«»«>-***» -w-Jfr-w-S** -^w
34
INDIVIDUAL INCOME TAX RETURNS FOR 1958
^ e^
^OrHC-3 tT»S\D^"Sf
i^w S55S^ ^^i
si a3 -
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mil §§§§
^S§§§ §§§§§ §§§§
808 S0808 SqqS
08 g .| S^ §§§ §§§§§S 3 I |j
INDIVIDUAL INCOME TAX RETURNS FOR 1958
§ s
I I;
Q -a
a! I
!iS ^^SiKS 5r
WTO-j-> i><nov(^-4
-j>|inf>jc> r.i3r-o r-vO^Rr
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||111 11111 mil ^Plf 8888^
*SSS feSiSfei I S t8§
iiiii mils S ? |°-3
g**^US SSS*S-tt ^<S^«S"S^ ^^^^SJjS. -«.^^^^ ^ ^ :§ig,5^^ ^SS^iJ.^ 5 5 5
35
36
INDIVIDUAL INCOME TAX RETURNS FOR 1958
§ 34 I I?
crTOoaj-o nTit-iof*! io^moK -^-Jirt
-i^c^SS n^SSS
53&§ SgS§S SSSSS ^SSR! "'-""''"" 3335S 2-°":i'^''
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62
-■«}4e-«» «»-«-*5-*9-^ a> +J
:si=^
INDIVIDUAL INCOME TAX RETURNS FOR 1958
S%0-*TO<n F-^t^C
rv g" <C ^* tfC p-" c
I 1^
JO 5
isfoSsd'^ rofNiQfMC^ c^i^^j-sr
r 8^3 O'^iroS
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fliii 11111 mil
-i (M ogmn^-J u-l^DC-CpO^ r-l r-i e\i c
iiiio^Eij"'^!;!;^^
ooQoS ■S »« SS§5§ 5§§§§S ■3 I ?-
*«»«0 e-< oj-O h OOO OOQOOO £-1 O Ml
37
38
INDIVIDUAL INCOME TAX RETURNS FOR 1958
^goo^. CTi-JtMCOQ ->t Q ■^ ^ O O-J" rt'^\0'fl 0^00^^0>0 i-i rS c^ O r-t oj
I § il i
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39
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e^sss ssfess sssss H^ll mil mil lllll §§§§§
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
39
5 3 •
I
Ik
I 11 4 ei
§ ■■:
I i
si 9
»s
ig I
si I
3^ i
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3QOO OOOQO
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40
INDIVIDUAL INCOME TAX RETURNS FOR 1958
5 s-
Is
I I ^^s ;3;h S
"Be""
I £ '3 I -S
i3 a
11 i
2 S s
;3S
Ik
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islll lllll lllll 11111 ||ff§ •s .-s g^iii iiliis ■s ? fS'S
■§ooo ooooo ooQoo SiSgS 88880 1? 34 ^SoBB oooaos « S ^**
^o 0"~iog- « -gc
INDIVIDUAL INCOME TAX RETURNS FOR 1958
41
I 1 i
I I;
i
i
s I
i s
I I
§ 3^
h3 TlrHOnrvJ ^C^f^l>rH O'3'M'ntb tJi O
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3 88S
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III
42
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Adjusted gross
Number of
returns witl
itemized
deductions
Deduction for —
Contributions
$600 under $1,000. . . $1,000 under $1,500. $1,500 under $2,000. $2,000 under $2,500.
$2,500 under $3 $3,000 under $3 $3,500 under $4 $^,000 under $4 $i,500 under $5
',000 under $15,000. . ,000 under $20,000.. ,000 under $25,000.. ,000 under $50,000. . ,000 under $100,000.
$50
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000. $1,000,000 or more
Total taxable
Nontaxable returns:
Under $600
$600 under $1,000... $1,000 under $1,500. $1,500 under $2,000. $2,000 under $2,500.
000.
$2,
500 under $3i 000 under 500 under $4 000 under $4, 500 under ■,000 or more
Total nontaxable return;
Grand total
Returns under $5,000
Returns $5,000 under $10,000. Returns $10,000 or more
67,066 228,159 389,618 584,426
744,640
948,514
1,147,777
1,339,914
1,488,801
3,165,452 2,581,656
1,786,710
1,220,225
793,847
1,493,724 424,654 213,584 324,742 87,960
13,780 3,786 3,915
59,809
290,004
690,228
1,324,182
2,052,010 3,084,041 4,317,440 5,694,084 7,076,597
17,360,420 16,709,005 13,352,887 10,328,247 7,512,798
17,673,508 7,283,596 4,752,609
10,899,201 5,816,203
1,611,635 648,352
1,104,087 354,379 481,596
58,217 206,584 362,676 541,702
695,472
905,199
1,093,645
1,285,522
1,440,071
3,078,354 2,530,482 1,756,085 1,203,373 780,867
1,473,232 419,662 210,280 320,517 86,284
13,694 3,743 3,874
18,621 41,005 72,167
103,003 148,178 188,521 240,248 280,948
634,740 596,236 453,201 346,873 252,343
608,465 248,775 160,936 373,091 254,318
98,895 47,933 113,269 43,612 81,248
12,553 77,969 165,599 291,205
422 ,411 584,575 790,713 987,250 1,164,816
2,655,626 2,244,608 1,594,898 1,093,458 707,372
1,283,949 326,445. 154,281 222,244 56,744
5,817 18,009 40,769
62,747 105,265 172,196 241,798 321,423
865,604 875,957 704', 423 522,043 376,656
754,700 232,901 128,699 239,518 125,691
37,424 17,477 31,361 10,051 5,673
50,362 197,375 354,652 543,016
703,595
909,959
1,113,347
1,313,124
1,463,891
3,130,926 2,557,022 1,776,429 1,211,565 783,818
1,479,689 419,680 211,040 320,085
13,577 3,729 3,861
2,938 17,464 39,258 73,998
105,281 159,961 223,923 287,547 368,698
905,748 861,676 688,304 528,412 376,653
895,710 363,974 231,540 510,025 262,640
69,256 29,302 47,928 13,960 17,041
29,656 129,446 239,082 373,197
494,778 635,408 743,602 866,873 948,682
1,953,010
1,539,558
991,603
634,443
409,956
681,075 162,982 68,322 88,222 25,102
2,849 21,577 46,267 85,429
127,564 170,242 206,940 257,430 270,333
579,626 461,887 308,551 225,670 160,398
330,429 123,056
68,798 117,877
53,373
9,865 3,230 3,956
1,690 12,875 24,788 43,983
64,280 88,823 122,594 163,937 184,119
433,308 406,271 319,538 262,997 162,381
399,354 164,212 102,138 223,475 155,835
49,685 23,451 42,521 11,942 13,076
12,300 76,354 169,327 316,346
462,875
672,469
914,174
1,190,960
1,425,521
3,419,026 3,202,027 2,474,017 1,885,995 1,328,431
2,988,658 1,132,918
692,111 1,463,986
851,857
265,125 Ul,393 239,035 80,291 117,370
26,090 140,525 223,741 223,937 260,743
217,750 177,866 156,572 112,984 85,478 132,022
8,564,601 9,675,145 2,571,676
10,046 114,491 288,095 387,576 581,594
601,568 575,624 583,153 478,524 404,646 856,721
,882,043
28,613,717 66,010,081 50,735,163
17,496 110,214 176,470 183,324 213,684
191,740 155,593 140,875 101,692 79,311 119,666
7,959,487 9,464,724 2,536,142
2,164 10,389 22,446 25,230 31,922
31,646 28,085 29,500 23,502
1,319,624 2,315,958 2,058,254
8,912 39,182 73,400 94,365 126,228
126,091 117,536 116,565
5,361,140 8,405,150 2,062,574
2,129 7,090 15,904 23,349 34,693
40,901 41,929 42,792 39,459 36,187 87,742
372,175
1,253,234 3,408,430 1,607,490
19,557 110,544 183,794 196,272 233,355
197,161 164,155 146,320 107,481 81,715 122,433
4,066 15,101 33,439 39,085 43,456
46,558 44,749 33,397 33,230 28,131 67,897
1,610,280 3,415,033 2,455,033
13,023 81,982 142,555 154,436 179,469
159,675 125,390 106,699 75,960 57,306 91,950
,183,450
5,557,224 5,617,467 1,036,783
3,563 21,908 57,176 76,557 84,207
74,001 71,413 64,350 42,750 37,160 114,056
647,141
1,721,716
1,831,977
729,353
1,569 5,938 14,396 15,686 21,903
18,028 25,964 26,475 25,585 25,004 112,705
293,753
13,491 60,426 143,861 179,907 221,181
211,134 212,140 201,514 164,526 144,485 442,677
,792,991
12,632,246
;, 072, 671
for "Description of Sainple" and "Explanation of Classifications and Terms . "
INDIVIDUAL INCOME TAX RETURNS FOR 1958
43
Tax credit for—
Dividends received
Retirement in
Other dollar,)
(2t)
$600 under $1,000
$1,000 under $1,500. $1,500 under $2,000. $2,000 under $2,500.
$2,500 under $3,003. $3,000 under $3,500. $3,500 under $4,000. $4,000 under $4,500. $4,500 under $5,000.
$5,000 under $6,000. . $6,000 under $7,000.. $7,000 under $3,000.. $8,000 under $9,000. . $9,000 under $10,000.
$10,000 under $15,000.. $15,000 under $20,000.. $20,000 under $25,000.. $25,000 under $50,000.. $50,000 under $100,000.
$100,000 under $150,000
$150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000., $1,000,000 or more
Total taxable returns.
lontaxable
Under $600
$600 under $1,000
$1,000 under $1,500. $1,500 under $2,000. $2,000 under $2,500.
000.
$2,500 under $3,000 under $3,500 under $4 $4,000 under $4,500 under $5,000 or more
TOi-al nontaxable :
Returns under $5,000
Returns $5,000 under $10,000. Returns $10,000 or more
40,240 139,965 322,108 586,062
864,189 1,319,707 1,813,834 2,325,909 2,861,519
6,711,065 5,752,153 4,023,722 2,748,893 1,749,801
3,300,660 948,026 482,165 739,123 193,232
29,873
67,066 228, 159 389,618 584,426
74^,640
948,514
1,147,777
1,339,914
1,488,801
3,165,452 2,581,656 1,786,710 1,220,225 793,847
1,493,724 424,654 213,584 324,742 87,960
13,780 3,786 3,915
7,269 73,685 198,793
421,774
724,946 1,091,865 1,589,432 2,177,215 2,789,557
7,230,329 7,754,825 6,855,148 5,693,359 4,434,566
11,384,190 5,202,652 3,578,333 8,696,092 4,771,114
1,316,637 519,031 856,996
273,018 363,784
1,427 14,608 39,568 84,048
144,661 218,431 319,292 438,355 562,246
1,456,033 1,563,738 1,390,508 1,165,435 917,667
2,439,240 1,227,475 926,064 2,749,888 2,064,083
692,763 296,825
531,771 179,547 240,487
(1)
11,552 15,992 32,159
40,358 44,745 50,139 59,234 59,940
120,278 123,812 102,196 94,315 84,110
311,271 189,039 118,462 223,470 75,835
12,438 3,584
3,751
1,090 1,271 1,608 1,896
19,880 19,169 16,835 51,597 47,388
17,532 8,427
15,934 5,152 6,972
3,723 |
150 |
8,855 |
453 |
14,991 |
1,118 |
19,705 |
2,426 |
21,476 |
2,564 |
20,122 |
2,680 |
20,162 |
3,336 |
27,603 24,577 17,087 12,273 10,532
28,325 16,147
9,190 15,454
6,541
1,283
3,413 1,883 2,034
5,171 3,012 1,635 2,830 1,177
238
11,420 8,470 7,099 18,642 10,137
2,708 1,042 1,251
2,066 1,378 1,024 4,268
2,022 1,690
2,737
1,420 14,459 39,221 83,160
142,771 214,915 315,446 433,805 556,941
1,447,1 1,554,263 1,381,8 1,158,751 911,615
2,412,048 1,203,904 906,520 2,690,490 2,010,502
672,690 286,382 512,914 173,614 232,547
78,004,670
236,514
31,785 122,621 262,987 314,408 447,777
450,429 421,186 423,073 344,047 281,245 495,250
13,373,091 21,471,042 5,720,357
22,398 12,722 12,916 8,874 6,491 6,685
109,527
7,041,757 9,553,997 2,567,487
8,503 6,535 6,408 13,265
9,133,676 31,977,505 36,965,894
26,090 140,525 221,700 209,329 237,951
195,352 165,144 143,656 104,110 78,987 125,337
684 2,016
3,030 1,711 1,703 1,304 1,283 3,128
14,920
1,834,428 6,495,239 11,349,413
5,764 12,231
12,543 5,803 6,789 4,758
8,681 20,355 208,899
13,922 21,767
21,383 L2,045 12,219 8,874 6,152 5,061
103,464
207,775 96,820 78,289
1,176 1,143 1,179
23,166 16,976
14,307
4,754 15,561 61,327
1,802,138 6,454,205
11,101,611
al includes data deleted for this
566335 O - 60 ■
44
INDIVIDUAL INCOME TAX RETURNS FOR 1958
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45
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
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49
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
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52
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Table 9 . —RETURNS WITH INCOME TAX— ADJUSTED GROSS INCOME, TAXABLE INCOME, INCOME TAX, AVERAGE TAX, AND EFFECTIVE TAX RATE, BY ADJUSTED GROSS INCOME CLASSES AND TYPES OF INCOME TAX
ALL TAXABLE RETUHNS
$600 under $1,000...
,000 under $1,500.
$1,500 under $2,000.
$2,000 under $2,500.
,500 under $3,000. ,000 under $3,500. ,500 under $4,000. ,000 under $4,500. ,500 under $5,000.
i,000 under $6,000.
>,000 under $7,000.
',000 under $8,000.
1,000 under $9,000. ',000 under
000.
$50
,000 under $15,000..
,000 under $20,000..
,000 under $25,000..
,000 under $50,000..
,000 under $100,000.
),000 under $150,000. . .
$150,000 under $200,000...
$200,000 under $500,000...
$500,000 under $1,000,000.
.,000,000 or more
Total .
RETURNS WTH NORMAL TAX Affl) SURTAX
$600 under $1,000...
.,000 under $1,500.
$1,500 under $2,000.
$2,000 under $2,500.
:,500 under $3,000. 1,000 under $3,500. 1,500 under $4,000. ,000 under $4,500. ,500 under $5,000.
,000 under $6,000. 1,000 under $7,000. ,000 under $8,000. ,000 under $9,000. ,000 under
,000.
$50
,000 under $15,000..
,000 under $20,000..
,000 under $25,000..
,000 under $50,000..
,000 under $100,000.
0,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total.
RETURie WITH ALTERNATIVE TAX
Under $15,000
$15,000 under $20,000.. $20,000 under $25,000.. $25,000 under $50,000.. $50,000 under $100,000.
$100,000 under $150,000... 0,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. '1,000,000 or more
Total.
Returns under $5,000
Returns $5,000 under $10,000. Returns $10,000 or more
1,296,407 2,127,075 2,111,329 2,537,591
2,807,388 3,062,908 3,232,549 3,488,552 3,465,499
6,224,634 4,644,506 3,214,399 2,167,447 1,451,196
2,484,984 587,465 264,487 369,515 91,605
14,049 3,845 3,937
1,083,049 2,683,333 3,675,817 5,714,958
7,735,369 9,957,051 12,134,645 14,817,446 16,461,528
34,086,295 30,049,915 24,009,958 13,343,492 13,733,221
29,176,927 10,041,825
5,875,992 12,313,280
6,042,852
1,644,279 658, 563
1,109,680 356,220 482,640
191,196
953,797
1,534,510
2,351,308
3,390,578 4,446,465 5,537,377 6,859,499 7,749,024
16,553,8 15,724,265 13,645,969 11,059,382 8,773,922
20,026,310 7,484,521 4,551,665 9,973,1 4,986,906
1,348,568 529,147 862,534 274,855 364,825
38,062 190,127 305,632 466,973
671,815
885,784
1,112,033
1,382,118
1,563,208
3,336,990 3,177,815 2,778,601 2,273,624 1,822,007
4,291,393 1,757,062 1,163,543 3,101,822 2,106,658
1,727 2,991 4,418 8,394 22,997
49,088 75,876 131,028 329,456 987,962
262,188,335
752
1,296,407 2,127,075 2,111,329 2,537,591
2,807,388 3,062,908 3,232,549 3,488,552 3,465,499
6,224,634 4,644,506 3,214,399 2,167,447 1,451,196
2,484,984 587,363 261,306 344,196 46,794
1,083,049 2,683,333 3,675,817 5,714,958
7,735,369 9,957,051 12, IX, 645 14,817,446 16,461,528
34,086,295 30,049,915 24,009,953 18,343,492 13,733,221
29,176,927 10,039,791
5,804,355 11,291,464
3,003,517
554,530 179,397 250,142 66,374 125,539
191,196
953,797
1,534,510
2,351,308
3,390,578 4,446,465 5,537,377 6,859,499
7,749,024
16,553,1 15,724,265 13,645,969 11,059,382 8,773,922
20,026,310 7,482,641 4,488,554 9,094,440 2,430,167
440,786 133,365 181,446 45,661 72,097
466,973
671,815
885,784
1,U2,033
1,382,118
1,563,: "
3,336,990
3,177,815 2,778,601 2,273,624 1,822,007
4,291,393 1,756,468 1,147,015 2,774,855 1,024,621
235,337 82,659
122,740 35,714 59,435
1,727 2,990 4,390 8,062 21,1
47,313 78,873 135,774 368, 186 1,265,638
254,978,113
U3, 172, 119
692
3,181 25, 319 44,811
9,075 2,797 3,033
(')
71,637 1,021,816 3,039,335
1,089,749 479,166 859,533 289,846 357,101
63,111
878,646
2,556,739
907,732 390, 232 681,088 229,194 292,728
(')
21,528
326,967
1,082,037
454,296 209,085 393,118 139,227 173,674
50,060 74,753 129,614 320,800 918,910
7,210,222
31,487
24,129,298 17,702,182 3,820,654
74,263,196 120,222,881 67,702,253
33,013,754 65,757,398 50,402,417
6,615,302 13,389,037 14,330,813
See text for "Description of Sample" and "Explanation of Classifications and Terms."
^Sample variability is too large to warrant showing separately. However, the grand total includes data deleted for this
INDIVIDUAL INCOME TAX RETURNS FOR 1958
53
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54
INDIVIDUAL INCOME TAX RETURNS FOR 1958
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
55
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56
INDIVIDUAL INCOME TAX RETURNS FOR 1958
i?3
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57
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
1^ Is
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INDIVIDUAL INI30ME TAX RETURNS FOR 1958
61
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
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|||||||||||||||||||||
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INDIVIDUAL INCOME TAX RETURNS FOR 1958
63
^ss
^m;Jffl ?5 ^ S In3
64
INDIVIDUAL INCOME TAX RETURNS FOR 1958
Table 13.— RETURNS WITH SELF-EMPLOYMENT TAX— ADJUSTED GROSS INCOME, INCOME TAX, AND SELF-EMPLOYMENT TAX, BY ADJUSTED GROSS INCOME CLASSES
Adjusted gross .
Number of |
Adjusted |
Income tax |
Silf |
returns with |
gross |
after |
employment |
self- |
income |
credits |
tax |
employment |
|||
tax |
Ml.,.) |
'ZTi'.Z'') |
(Thovattnd doll.t.) |
(1) |
(2) |
(3) |
(4) |
69,815 |
58,246 |
1,971 |
1,959 |
150,908 |
195,036 |
9,138 |
5,724 |
214,477 |
376,308 |
23,391 |
10,861 |
288,012 |
648,884 |
37,815 |
17,862 |
325,492 |
895,803 |
57,487 |
23,993 |
335,623 |
1,092,826 |
71,021 |
28,973 |
353,909 |
1,325,759 |
95,613 |
33,029 |
378,865 |
1,606,688 |
120,445 |
40,026 |
322,125 |
1,531,941 |
125,128 |
34,318 |
532,202 |
2,914,980 |
267,752 |
57,085 |
365,150 |
2,357,611 |
240,111 |
40,492 |
259,488 |
1,933,776 |
223,289 |
30,278 |
216,803 |
1,833,994 |
225,711 |
26,073 |
159,265 |
1,510,549 |
198,911 |
19,697 |
397,020 |
4,772,620 |
711,813 |
51,671 |
163,201 |
2,802,686 |
502,894 |
22,084 |
80,333 |
1,781,513 |
366,438 |
11,063 |
106,000 |
3,496,839 |
906,823 |
14,525 |
23,573 |
1,557,123 |
565,047 |
3,253 |
3,669 |
436,044 |
188,409 |
507 |
956 |
163,071 |
74,918 |
128 |
852 |
238,735 |
113,585 |
112 |
97 |
63,638 |
31,952 |
13 |
39 |
75,963 |
36,802 |
5 |
4,747,874 |
33,675,633 |
5,196,464 |
473,731 |
57,684 |
'99,906 |
- |
2,738 |
229,026 |
101,973 |
. |
5,168 |
378,899 |
302,044 |
_ |
10,296 |
468,425 |
572,172 |
- |
17,469 |
334,625 |
589,747 |
- |
16,927 |
263,133 |
591,717 |
- |
15,848 |
184,904 |
501,451 |
_ |
13,304 |
153,318 |
494,886 |
_ |
12,986 |
94,303 |
355,463 |
_ |
9,051 |
48,254 |
201,042 |
_ |
5,180 |
28,971 |
136,364 |
- |
3,134 |
27,915 |
172,845 |
- |
3,336 |
2,269,457 |
^3,922,798 |
- |
115,437 |
7,017,331 |
^37, 598,431 |
5,196,464 |
589,168 |
4,680,768 |
^11, 481,444 |
542,009 |
308,346 |
1,560,118 |
10,710,127 |
1,155,774 |
176,888 |
776,445 |
15,406,860 |
3,498,c*l |
103,434 |
Taxable returns:
$600 under $1,000
$1,000 under $1,500., $1,500 under $2,000., $2,000 under $2,500.,
,500 under $3,
000.,
000.,
,500 under $5; sOOO under $6,( 1,000 under $7,( ',000 under 1,000 under ',000 under $10,000.,
,000 under $15,000. . ,000 under $20,000.. ,000 under $25,000.. ,000 under $50,000.. ,000 under $100,000.
$10
$15
$20
$25
$50
$100,000 under $150,000...
$150,000 under $200,000...
$200,000 under $500,000...
$500,000 under $1,000,000.
$1,000,000 or more
Total taxable returns.
Under $600 ,
$600 under $1,000. $1,000 under $1,50( $1,500 under $2,00( $2,000 under $2,50(
$2
500 under $3,i ,000 under $3,
500 under $4,i ,000 under $4,
500 under $5,i >,000 or more..
Total nontaxable ■
irns under $5,000.. Returns $5,000 under ; irns $10,000 or mo:
See text for "Descriptl' ^Adjusted gross deficit ^Adjusted gross
I of Sample" and"Explanation of Classifications and Terms." less adjusted gross deficit.
INDIVIDUAL INCOME TAX RETURNS FOR 1958
65
Table 14.— RETURNS WITH SELF-EMPLOYMENT TAX— ADJUSTED GROSS INCOME AND SELF -EMPLOYMENT TAX, BY STATES AND TERRITORIES
[Taxable and
States and Terri
Adjusted gross incom less deficit
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbii Florida
Georgia
Illinois
Indiana
Kansas
Kentucky
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
5,052 34,668 89,699 513,983
80,939 76,150 U,232 16,908 152,069
121,148 17,008 44,632 413,140 195,197
268,264 157,292 152,551 82,751 38,114
86,995 135,628 252,204 225,630
76,785
223,587 46,316
133,671 11,877 20,532
186,339 30,908 560,142 198,840 73,945
325, 354 124,564 83,435 358,098
24,811
74,793 78,949 142,757 387,547 31,863
19,319 126,453 106,014
51,205 218,585
18,032
414,083 34,680 243,940 298,318 3,839,499
482,913 515,784 83, 394 149,509 893, 373
574,396 111,724 213,518 2,471,624 922,571
1,205,904 703,347 550,682 472,283 163,498
538, 304 815,029 1,392,517 919,329 254,939
980,244 234,530 608,333 37,856 106,008
1,231,557 180,710
3,871,609 672,907 296,604
268,827 295, 64A 541,216 2,105,261 178,989
78,201 553, 396 716,717 202, 176
929, 342
3,502 5,8U 50, 117
7,307 7,325 1,172 1,511 12,660
8,859 1,36A 3,354 37,365 16,461
23,213 12,581 9,933 6,808 2,725
7,831 12,346 22,155 17,250
4,566
16,843 4,023
11,630 1,150 1,755
18,526 2,395 53,323 12,440 6,231
27,542 9,454 7,632
33,460 2,010
4,311 6,285 8,989 31,116 2,685
1,458 8,891
10,031 3,390
17,243
1,408
United States''
See text for "Description of Sample" and "Explanation of Classifications and Terms." ^Returns of citizens of Puerto Rico who are also citizens of United States, nonresid Zone or Virgin Islands, and citizens abroad.
^Includes Territories of Alaska and Hawaii and other areas listed in footnote 1.
iding in Puerto Ric
of United States :
66
INDIVIDUAL INCOME TAX RETURNS FOR 1958
-SELECTED SOURCES OF INCOME, ADJUSTED GROSS INCOME, TAXABLE INCOME, AND INCOME TAX, BY STATES AND TERRITORIES
[Taxable and nontaxable returns]
States and Te
Dividends (after
Combined partnership
Combined net gain and loss from sales of capital
(1)
(2)
M
(9)
(10)
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delairare
District of Columbia.
Florida
Georgia
Illinois
Indiana - . . . .
Kansas
Kentucky
Maine
Maryland
Massachusetts
Michigan, total
Detroit standard metropoli Remainder of State
Minnesota. . . Mississippi. Missouri ....
Montana
Nebraska ....
Nevada
New Hampshir< Neu Jersey. . New Mexico. . New York
Pennsylvania, total... Pittsburgh standard Remainder of State..
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
798,233
46,476
357,947
437,224
5,380,726
577,895
942.535
152,585
331,081
1,420,349
1,007,090
215,402
213,093
3,717,343
1,521,475
947,704
735, 522
833,388
815,793
335,518
1,147,038
1,965,671
2,575,775
1,275,178
1,300,597
1,141,280 414,701
1,439,689 225,722 496,852 101,535 222,377
2,218,235 261.903
6,411,995
1,236,162 206,125
3,300,687 698,374 586,487
4,056,485 860,346
3,196,139 314,252 571,968 224,344 990,437
2,776,751 270,570 128,313
1,199,987 964,507 560,207
1,353,315 111,200 119,297
2,779,641 254,300 1,365,060 1,159,447 23,727,656 2,124,748 4,153,354 711,856 1,367,407 4.711,378 3,457,977 756,912 643,006 16,033,985 5,833,200 2,612,140 2,367,545 2,592,825 2,961,744 1,005,710
4,831,623 7,686,864 10,947,201 5,986,069 4,961,132 3,815,858 1,155,133 5,112,595
626,810 1,327,388
443,577
772,787 9,970,770
967,385 27,429,449
3,627,303
442,031
13,736,643
2,277,336
2,187,418
15,746,951
3,627,773
12,119,178
1,170,517
1,753,740
474,219
3,144,535
9,942,140
1,030,651
377,907
4,324,186
4,037,081
1,918,390
4,856,128
399,499
409,212
43,611 19,871 909,013 33,806 300,702 105,592 61,171 303,950 87, 551 20,008 11,924 541,436 111,599 61,345 52,952 79,488 68,474 62,404 148,946 422,312 288,274 159,114 129,160
127,831 19,449
214,722 19,852 36,612 14,188 29,357
369,363
14,090
1,612,696
104,416 10,300
468,440 60,760 75,834
765,860 182,955 582.905 61,858 40,018 9,256 76,195 267,855 19,069 20,006
136,631 90,335 54,237
169,241
11,078 33,046
25,355 1,637 29,759 14,511 550,987
48,962 65,749 5.972 24,767
182,340 33,562 7,840 15,134
193.456 69,942 65,404 45,540 23,338 35,749 17,756 73,092
121,999
176,899 86,322 90,577 82,744 10,710 30,512 16,145 25,438 3,221 14,689
120,377 12,985
493,669
39,458 10,552
169,435 23,774 54, 531
150,430 30, 570
119,910 20,250 14,575 11,117 33, 503
141,965 14,225 8,066 45,111 82,311 11,995
103,017 11,736 7,032
208,130 10,814 116,208 165,921 1,976,423
264,098 303,386 38,758 54,633 431,817 306,288 49,004 143, 9b9 1,486,057 538,161
778,977 412,624 295,090 208,455
81,610 312,759 527,735 745,390 326,485 413,905 522, 394 111,603 549,779 147,872 410,560
44,173
69,287 674,624
78,626 1,940,503
393,638 202,278 1,035,820 273,183 247,808
1,202,651 245,474 957,177 77,032 141,045 191,203 241,318 1,106,490 85, 807 45,556
263,513 389,252 117,827 551,995 40,925 ^349
131.659 13,383 60,997 66,536 1,101,615 121,152 122,423 13,309 47,391 188,945 141,858 25,503 30,170 629,136 173,184
221,185 124,344 123,353 145,507 15,722 127,997 168,211 355,950 187,671 168,279 185,840 62,429 204,817 45,163 93,742 15,121 15,356 341,346 42,208 1,234,631
126,627 53,764 372,033 117,659 161,261 573,691 106,984 466,707 19,777 50,921 39,526 152,029 514,531 39,455 11,055 117,236 201,751 41,869 133,060 17,964 2,021
31,141 2,912 55,115 30,067
625,314 43,262 81,061 12,634 19,764
202,896 55,065 8,905 27,505
272,743 76,377
115,469 54,095 38,175 47,293 13,630 53,829 98,370
131,451 63,219 68,232
100,046
40,734 17,741 9,673
123,195 17,100
623,450 46,611 14,946
160,315 44,017 60,493
173,927 42,996
130,931 16,015 14,266
32,663 50,523
235,484 17,041 8,051 49,795 69,230 18,702
100,711 19,964 11,231
17,858 27,377
445,207 43,929 38,056 4,036 19,965 83,271 30,833 15,943 9,623
236,696 65,328 68,018
105,117 37,577 96,307
51,707 32,360 103,424 62,053 41,371 49,182 40,590 94,748 21,420 62,457
12,265
2,311 63,488 23,553
119,158 59,744 12,805
173,432 30,887 35,320
133,409 40,429 92,980 6,320 25,941
15,' 44,1 346,859 8,701 2,353 46,846 48,282 22,123 74,762 10,507 4,236
3,291,834 285,361 1,712,650 1,507,479 29,770,013 2,755,736 5,141,238 909,922 1,655,251 6,269,910
3,967,906 3,197,240 3,251,131 3,606,286 1,223,815
5,660,245 9,202,549
12,921,648 6,959,170 5,962,473 4,964,750 1,443,458 6,399,(
912,288
2,013,793
566, 527
931,225
11,863,692 1,137,707
34,017,074
4,455,781
761,562
16,310,287 2,933,377 2,836,326
18,967,329 4,321,
14,646,221 1,389,8 2,058,384
789,833 3,784,554 12,697,359 1,231,6
483,167 5,051,267 4,985,990 2,211,208 6,120,661
514,613
434,241
1.515.229
176,356
850,296
636,210
16,569,586
1,460,339
3,041,304
531,657
982,414
3,067,503
1,941,444
457,552
428, 354
11,282,683
3,720,036
1,993,281 1,629,411 1,575,718 1,785,097
582,094 3,083,139 4,953,339 6,991,099 3,968,799 3,022,300 2,518,019
534,140 3,405,471
454,727 1,007,842
325,475
472,565 6,731,995
586,380 18,569,948 1,821,959
336,166 3,987,155 1,424,447 1,539,619
10,253,154
2,450,521
7,802,633
737,228
844,443
367,703
1,756,789
6,561,319
591,267
216,703
2,528,751
2,792,723
1,070,733
3,172,724
270,776
216,049
341.908 38,812 194,233 143,410 3,816,218
329,270 719,754 153,451 231,221 718,672 437,015 101,791 93,716 2,622,089 825,964 435,864 362,454 351,212 412,281 128,329
635,079
1,124,516
1,607,459 927,239 680,170 565,036 127,704 731,955 100,269 223,876 76,320 101,790
1,539,359 130,050
4,494,095 405,310 73,364
2,040,652 325.006 343,661
2,367,996 563,715
1,799,231 171,729 181,999 80,214 405,425
1,540,539 127,678 47,254
558,767 622,938 237,411 700,507 59,940 45,417
57
United States^ 59,079,620 227,618,223 8,764,981 3,663,373 20,672,665
See text for "Description of Sample" and "Explanation ^Returns of citizens of Puerto Rico who are also citi; Zone or Virgin Islands, and citizens abroad. ^Net loss exceeded net profit. ^Includes Territories of Alaska and Hawaii and other i
332,646 3,214,103 281,251,669 149,400,911 34,350,979 57
of the United State
INDIVIDUAL INCOME TAX RETURNS FOR 1958
67
Table 16.— ADJUSTED GROSS INCOME AND INCOME TAX, BY ADJUSTED GROSS INCOME CLASSES AND BY STATES AND TERRITORIES
[Taxable and nontaxable returns]
Adjusted gross
No adjusted gross inci
Under $1,000
$1,000 under $2,000.. $2,000 under $3,000.. $3,000 under $4,000.. $4,000 under $5,000..
000 under $6,000.. 000 under $7,000.. 000 under $8,000. . 000 under $9,000. . 000 under $10,000.
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000... $200,000 under $500,000. . . $500,000 under $1,000,000. $1,000,000 or more
Total.
No adjusted gros:
Under $1,000
$1,000 under $2 $2,000 under $3 $3,000 under $4 $4,000 under $5
$5
$8
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... $150,000 under $200,000. . . $200,000 under $500,000. . . $500,000 under $1,000,000. $1,000,000 or more
Total.
No adjusted gros:
Under $1,000
$1,000 under $2 000 under $3 000 under $4 000 under $5
000 under $6,000.. 000 under $7,000.. 000 under $8,000.. 000 under $9,000.. 000 under $10,000.
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000. . . $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total.
No adjusted gross
Under $1,000
$1,000 under $2 $2,000 under $3, $3,000 under $4 $4,000 under $5
$5
000 under $6,(
000 under $7,( 000 under
000 under $9,000. .
000 under $10,000.
000.
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
111,195 117,456 131,773 107,410 89,547
85,826 48,938 31,127 22,551 14,087
23,566
58,440 176,763 328,367 375,779 401,295 470,449 316,052 232,389 190,764 133,695
275,653 80,985 44,111
131,039 56,270 9,423
31,280 26,814 24,809
17,753
33,122 20,645 3,891 2,106 2,284
2,776
4,490 3,629 3,911 2,847 3,121 3,483
6,821
1,029
469
■'1,667 2,717 5,856 9,895 10,447 19,924 19,822 25,308 21,488 26,190 32,751
2,175 3,124 2,659 3,276 3,855
35,511 45,523 43,981
43,066 33,614 20,363 11,803 10,070 14,341 3,590 1,927 2,395
•^26,308 22,479 67,232 89,268 159,483 196,707
233,833 217,860 152,970 100,805 96,333 167,601 61,422 42,569 77,542 30,943 8,772
18,210 20,464 16,724 11,807 12,033 24,041 10,366 8,295 20,023 11,025 3,511 1,436 1,996
4,495 82,410 78,241 79,033 61,495 40,353 30,299 18,396 15,236
8,379 2,173 1,186 1,646
'7,161 44,035 116,448 195,425 213,575 133,458 164,442 118,101 113,712 68,977 46,562
98,262 37,574 25,740 55,788 17,000
out
31,697 519,293 591,364 535,762 578,180 613,351 606,917 509,389 390,638 282,827 195,142 362,028 78,220 30,823 41,642 10,675 1,357 434
'32,723
272,925
375,336
1,337,943
2,032,237
2,772,843
3,326,601
3,299,824
2,918,376
2,395,649
1,848,246
4,249,068
1,330,824
684,603
1,378,314
706,276
163,237
74,327
115,231
31,227
39,549
31,174 158,895 249,835
315,786 342,529 324,461 236,754 242,469 617,818 232,868 136,914 352,041 244,534 64,959 31,633 50,798 15,760 19,074
6,496 67,983 63,604 63,111 75,034 76,613 59,485 43,309 31,789 24,709 12,863 25,177 5,314 2,642 3,395
'13,135 36,503 104,201 168,062 261,500 344,320 327,391 312,931 237,675 209,676 120,962
295,508 90,311 58,335 133,775 46,503 10,780 4,790 6,862 3,236
5,394 10,789 19,488 29,723
43,138 16,005 12,014 33,621 16,034
4,550 2,200 3,368 1,661
98,278 99,163
90,917
110,754
119,315
133,131
76,906
59,817
46,955
26,068
47,568
12,019
6,034
9,395
2,237
326
51,252 145,277 232,288 387,399 536,796 727,775 501,288 443,977 398,167 246,962 559,276 205,950 133,802 318,088 149,281 38,875 17,151 34,696 10,463 9,282
8,478 17,811
38,171 54,051
74,753 55,877 54,336 50,876 33,621 83,010 35,227 27,085 82,396 52,983 16,1
16,213 5,605 3,959
(M
12,346 17,619 20,650 16,878 18,431
17,583 11,320 8,361 9,348 3,801 8,628 2,403 1,209 1,106
5,967 25,734 51,016 59,344 82,630 95,456 77,570 62,561 84,485 36,242
102,751 41,521 26,776 36,860 36,341
5,811 6,937 17,904 17,605 40,892
'909,922
District of Columbi!
43,691 45,815 46,542 29,874 20,748 12,587 12,050 8,299 18,057 5,092 2,187 2,517
(M 16,386
74,304 107,745 162,199 209,742 163,147 134,566 95,000 101,730 79,423 215,196 87,529 48,473 81,984 45,721
12,984 4,777
10,583 1,112 3,519
19,887 16,305 11,666 14,544 10,066 33,674 16,017 9,828 21,208 15,937 5,490 2,091 4,735
15,389 175,228 214,813 217,978 202,220 162,670
133,361 94,194 55,337 41,442 23,760
49,661 13,740 7,735 9,367 2,324 335
'31,651 93,792 318,647 541,561 704,445 730,319 728,611 609,555 412,391 350,085 224,316 590,430 237,085 172,527 318,277 152,418 39,727 15,113 35,913 13,174 13,175
11,065 27,313 40,051 53,517 61,918 63,756 46,781 42,506 27,667 84,279 40,750 34,048 80,407 53,267 16,386 6,386 16,364 5,387 5,604
6,753
127,704
171,519
155,571
140,770
122,974
89,209
56,773
41,521
30,541
16,477
28,182
8^661
4,220
4,997
1,014
718,672
257,945 383, 349 491,232 550,707 487,385 368,212 310,756 258,263 154,359 329,362 150,956
93,443 169,083
66,701
15,653 7,295 5,789 4,966
8,604 17,492 31,815 44,158 42,353 37,004 34,144 32,020 19,300 47,690 25,273 17,966 40,939 22,762 6,422 3,322 2,584 2,512
31,505 36,036 30,235 34,703 21,000
15,684 10,599 12,325
7,058
(1)
. 17,244 51,009 76,823
123,097 93,539 85,892 68,177 92,111 59,557
104,769 34,081 18,190 38,239 14,763
(') 1,016 1,373
1111
(M
27,949 30,032 32,350 30,249 25,864 19,684 17,933 7,440 5,913
Total.
108,554 115,813 55,516 50,236 41,252
69,133
37,541 13,304 23,328
end of table. See
for "Deseriptii
'32,876 204,433 620,162 982,614 1,551,002 2,043,970
2,384,321
2,074,764
1,884,079
1,446,954
1,250,406
2,321,497
734,328
450,459
981,153
406,917
162,010
48,023
77,337
33,692
14,991
'19,640,236
and "Explanation of Clasaifi
1,836 4,215 6,952 9,701 9,679
11,551 6,572 6,366 5,374
10,334 6,614 2,591 5,972 2,470 1,942 243 409
21,234 331,751 416,959 393,367 441,398 453,762
434,440
319,560
251,960
171,093
132,188
199,212
43,136
20,303
28,857
6,179
1,324
282
278
2,254 29,358 73,175 139,232 200,670 249,693 220,723 223,074 183,289 168,686
344,953 130,071 91,918 255,233 149,586 74,677 22,340 36,897 17,732 8,028
10,236 179,047 176,123 186,430 198,696 209,414
131,005 133,058 75,696 46,975 42,683 57,210 11,045 5,037 7,100 1,411
189
'16,733 91,999 261,494 466,766 694,192 939,860 993,415 358,670 563,920 397,214 403,262
665,904 188,622 111,742 235,272 91,419 22,359 10,582 13,716 3,867 6,752
10,222 32,022 53,245
84,251
100,136 34,622 23,076 62,269 34,019
9,968 5,072 6,966 1,725 2,806
9,539
121,479
138,503
136,965
117,539
123,159
98,825
70,090
48,635
25,954
16,599
26,013
6,188
3,455
3,827
'19,015 68,058 201,430 346,297 407,245 551,600 540,796 450,635 363,686 219,865 155,757 306,196 106,798 77,168
8,017 2,434 5,216
68
INDIVIDUAL INCOME TAX RETURNS FOR 1958
16. —ADJUSTED GROSS INCOME AND INCOME TAX, BY ADJUSTED GROSS INCOME CLASSES AND BY STATES AND TERRITORIES-
[Taxable and nontaxable returns]
No a 1 justed gross
Under $1,000
$1,000 under $2 $2,000 under $3 $3,000 under $*; $A,000 under $5
000.
000
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $8,000
$8,000 under $9,000
$9,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000...
$200,000 under $500,000
$500,000 under $1,000,000.
$1,000,000 or more
Total
No adjusted gross
Under $1,000
$1,000 under $2,0 $2,000 under $3,0 $3,000 under $i,0 $^,000 under $5,0i
000 under $6.
000 I
$7,
$10, i
000 under
000 under $9,000
000 under $10,000
,000 under $15,000
,000 under $20,000
,000 under $25,000
,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000.
$1,000,000 or more
Total
No adjusted gross
Under $1,000
$1,000 under $2 $2,000 under $3 $3,000 under $4 $4,000 under $5
$5,
000
000 under $6,000
000 under $7,000
000 under $8,000
000 under $9,000
000 under $10,000...
1,000 under $15,000..
,000 under $20,000..
1,000 under $25,000..
,000 under $50,000..
1,000 under $100,000.
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000.
$1,000,000 or more
Total
,000 ■
,000.
$2,000 under $3,i
$3,000 under $4,000
$4,000 under $5,000
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $8,000
$8,000 under $9,000
$9,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000. . . $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
7,793 101,031 111,617 36,994 90,514 90,943 75,176 53,660 42,329 20,266 17,160 24,635 6,243 2,866 3,454
4,238 124,540 145,735 146,644 134,442 135,975 116,525 99,193 69,142 46,069 32,805
66,148 12,641 4,842 6,528 1,321
^14,565 53,617 166,055 217,873 315,277 403,809 410,361 347,558 314,637 172,015 162,740 283,274 107,369 64,928 113,477 47,509 6,802 3,787 9,022 1,645
^4,825 64,571 216,491 366,315 463,765 608,854 637,021 642,953 515,361 390,085 312,351 780,063 215,597 106,932 212,437 36,075 19,329 7,654 10,010 2,660 1,036
7,309 12,076 22,302 35,578 36,939 35,195 37,326 21,433 21,292 42,694 19,529 13,343 29,022 17,372
3,103
1,774
4,350
701
10,394 24,335 36,055 56,703 59,103 68,683 62,013 49,382 40,952 115,425 38,072 21,633 53,285 30,503
1,147,038 '5,660,245
Michigan — Continued
8,174
164,961
163,060
133,394
166,461
139,414
140,091
112,916
67,946
43,115
33,743
47,315
9,035
3,968
5,426
1,239
153
4,455 31,876 32,137 33,915 28,230 29,525 21,357 11,963 9,694 6,565 4,435
Remainder of Stat' ^12,442 83,166 235,292 345,523 581,508 354,646 767,095 731,766 506,618 407,025 313,269
84,469 17,982
9,050 19,151
6,960 26,013
Montana ^7,543 16,863 46,739 33,095 96,480 131,222
118,136 77,477 72,214 54,982 42,072
31,813 33,338
16,802
9,499 19,867 41,137 73,330 69,643 77,101 54,204 50,946 42,090
81,425 27,747 17,374 45,119
10,237 3,191 7,846 7,612 5,302
11,984 5,816 3,545
11,403
2,192
146
Total.
4,760
137,239
133,067
121,483
111,450
103,496
76,247
47,596
30,729
19,469
14,399
20,365
5,600
2,022
4,015
767
6,500 234,324 233,989 259,113 273,543 261,652
202,006 158,309 114,295 65,376 42,995
145,928
142,321
139,392
116,291
87,387
53,474
36,946
24,293
36,056
9,030
4,150
6,529
1,330
163
5,422 65,414 77,571 78,432 73,380 60,415
44,683 29,810 19,714 11,304 3,449
13,710 3,735 1,752 2,659
^19,778 76,895 194,330 301,824 390,052 465,233 416,321 305,310 228,411 163,460 U0,723
240,031 95,712 44,880 131,761 49,963 9,901 4,539 7,117
^11,352
120,158
351,151
647,293
955,382
1,171,521
1,107,257
1,023,226
853,156
553,997
405,201
762,919
304,516
193,777
431,525
225,800
48,432
21,490
27,681
3,390
1,024
•^19,182 83,113 235,797 369,318 496,143 623,342 633,330 566,713 393,710 310,425 230,648
423,793 155,369 92,639 212,034 35,677 19,591 8,538 16,538 7,796 3,813
'4,433 35,557 113,755 196,906 257,564 269,237
244,726 193,882 147,936 96,527 79,878
162,236 64,891 38,937 86,787 18,499 10,116 1,048 3,269
5,625 16,692 29,432 40,658 40,390 31,250 26,276 20,275 13,966 34,222 16,417 3,673 32,878 17,739 4,410 2,126 3,533
1,393 19,840 53,539 87,012 106,303 103,699 107,054 97,637 69,613 51,263 110,367 51,694 37,650 107,140 75,693
13,663 9,153
11,620 4,159
1,042 11,535 24,056 40,552 56,904 53,449 56,176 42,947 36,384 30,394
59,940 25,303 18,146 50,750 23,386 7,577 3,675 7,402 3,635 1,133
5,071 11,740 18,566 23,527 23,199 19,300 17,035 12,107
9,956 24,559 12,093
8,150 24,175
6,999
4,341
453
1,475
6,081 99,650 113,259 125,879 109,794 97,25 74,492 65,040 39,260 21,122 13,305 29,472 7,135 3,155
13,997 301,753 297,436 250,152 292,039 362,380 294,007 232,793 160,481 111,768
76,099 123,034
24, 594 9,947
15,677
3,665
493
3,584 80,530 75,669 68, 395 55,678 38,563 30,538 21,887 14,555 6,114 5,311
7,701 2,619
1,272 1,517
8,959 9,344 8,879 11,613 15,764 11,532 9,314 6,263 6,511 3,585
n2,303 50,870 168,356 315,459 383,723 433,063 404,685 419,293 290,619 178,412 173,381 344,537 121,104 70,676 143,605 73,940 20,400 8,473 10, 582 1,334 1,072
Total
2 32, 977
153,303
434,673
626,900
1,022,815
1,633,139
1,611,719
1,510,759
1,199,157
945,781
719,624
1,498,993 413,698 221,932 512,155 242,570
59,418 28,863 55,230 14,450 44,396
45,829 112,136 169,590 195,520 174,147 165,896 139,953 107,945 52,059 54,399 90,307 43,919 28,044 50,459 15,427
702 477
Nevada
3,965 13,021 21,160 41,411 63,920
63,179 60,684 46,561 54,947 34,335
4,172 2,220 2,172 1,170 3,755
5,933 16,495 23,466 32,313
33,215 21,934 23,630
51,182 22,150 15,120
(M
7,000 5,809 5,332 6,962
CM
53,781 61,290 45,044 50,963 40,992 32,752 17,467 10,493 5,355 5,066 5,780 1,731
1,521 18,392 37,616 75,132 149,152
152,976 161,403 137,263 118,273 96,294
222,048 73,964 44,010
130,071 89,273 25,886 13,519 28,318 3,773 23,505
274 2,714 6,941 10,536 10,263 13,835 13,966 12,022 6,012 6,866 13,080 6,325 5,169 11,894 5,315
5,823 136,797 134,376 111,758 125,578 172,966 153,916 119,377 92,535 63,653 42,356 30,769 15,559 5,979 10,251 2,376
345
117
Maine
25,312 90,869 113,541 178,318 183,528 179,320 112,727 78,253 49,553 43,074
67,630 29,371 20,506 41,214 13,936
7,683
standard luetropoli' '20,535 65,137 199,381 231,377 441,307 778,493 344,624 773,993 692,539 533,756 401,355 945,393 263,603 133,438 333,957 158,101 41,436 19,313 .36,129 7,490 18,378
16,521 187,595 193,171 211,936 171,062 169,240
152,593 107,243 76,677 43,972 26,942 48,737 11,056 6,434 8,937 2,045
273
(M
24,549 31,404 34,371 30,600 29,017 26,462 17,671 10,038 5,383
'55,697 95,732 285,326 523,198 596,532 757,342 331,230 693,060 573,426 414,948 254,636 571,384 190,394 143,892 298,243 133,404
33,063 17,933 23,461 4,327 7,664
(1) 11,492 47,025 86,959 106,759 128,605 145,328 114,467 75,324 45,579
65,355 32,340
15,771 22,855 11,054
(M
end of table. See text for "Description of Sample" and "Expla
of Classifications and Terms."
INDIVIDUAL INCOME TAX RETURNS FOR 1958
69
.—ADJUSTED GROSS INCOME AND INCOME TAX, BY ADJUSTED GROSS INCOME CLASSES AND BY STATES AND TERRITORIES - [Taxable and nontaxable returns]
Adjusted gross
No adjusted gross income...
Under $1,000
$1,000 under $2,000
$2,000 under $3,000
$3,000 under $^,000
$4,000 under $5,000
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $8,000
$3,000 under $9,000
$9,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000. . .
$200,000 under $500,000
$500,000 under $1,000,000.
$1,000,000 or more
Total
N3 adjusted gross income...
Under $1,000
$1,000 under $2,000
$2,000 jnder $3,000
$3,000 under $4,000
$i,000 under $5,000
$5,000 under $6,000
$6,000 under $7,000
$7,000 under $8,000
$8,000 under $9,000
$9,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... $150,000 under $203,000... $200,000 under $500,000... $500,000 under $1,000,000.
$1,000,000 or nxjre
Total
No adjusted gross inc
Under $1,000
$1,000 under $2,000. $2,000 under $3,000. $3,000 under $4,000. $4,000 under $5,000.
$5,
000 under $6,000
000 under $7,000
000 under $8,000
000 under $9,000
000 under $10,000
000 imder $15,000
000 under $20,000
000 under $25,000
000 under $50,000
000 under $100,000
1,000 'inder $150,000...
1,000 under $200,000...
1,000 under $500,000...
1,000 under $1,000,000.
No adjusted gross int
Under $1,000
$1,000 under $2,000. $2,000 under $3,000. $3,000 under $4,000. $4,000 under $5,000.
$5,
000 linder $6,000
000 under $7,000
000 under $8,000
000 under $9,000
000 under $10,000
000 under $15,000
000 under $20,000
000 under $25,000
$25,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000...,
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000.
$1,000,000 or more
Total
■ Jersey
New York
North Carolii
8,107 220,168 215,763 237,921 266,291 285,083 272,072 214,778 143,651 99,801 69,814 122,280 27,611 12,804 17,279 3,770 791
^16,627 118,471 319,642 596,677 931,802 1,280,420
1,493,325
1,390,552
1,074,046
845,276
660,342
1,441,891
469,269
283,888
568,855
244,000
89,648
19,668
32,155
11,121
9,271
1,325 15,463 45,022 81,772 120,585 148,189 152,793 123,895 107,260 90,303 211,709 81,393 56,595 142,566 87,208 39,750 3,975 15,493 5,236 3,827
4,149 38,799 37,674 25,763 27,336 30,647
24,660 24,877 13,304 10,733 6,621
12,557 2,050 1,185 1,272
^49,831 21,742 54,534 64,050 95,829 137,022 135,225 158,819 99,199 92,172 62,374 146,300 34,991 26,264 40,675 12,176
10,708 16,018 11,204 11,118 7,654
21,465 6,537 5,538
10,911 4,535
408
25,479 634,274 707,655 802,503 848,535 875,691 711,681 526,753 351,353 258,884 154,670 307,226 86,045 40,282 57,814 17,682 3,138 986 1,125
'116,376
330,647
1,058,485
2,017,426
2,972,259
3,931,483
3,896,420
3,402,317
2,627,477
2,187,025
1,465,179
3,629,951
1,474,757
897,386
1,954,291
1,178,548
381,371
169,622
317,276
96,891
144,639
3,786 47,879 135,540 246,8 363,270
372,295 352,703 297,488 265,551 189,941 519,983 246,450 168,210 455,307 372,025
145,323 69,816
136,451 43,754 61,435
8,051
186,169
224,804
242,195
179,251
131,611
87,415
64,038
36,723
23,989
9,367
25,103
7,293
3,455
5,243
587,424 478,128 413,261 273,626 203,537 93,564
294,231 124,454
76,496 179,779
53,662
9,948 4,728 5,504 2,117 5,044
,494,095
North Dakota
Ohio
Oregon
34,172 34,408 29,780 28,301 24,874 18,457 12,556 6,248
18,587 49,208 72,659 99,066 111,094
101,756
45,987 40,458 (1) 54,451 18,125 13,581 19,843 11,684
1,842 3,898 5,165 8,857 8,527 7,782 5,269 4,781 (M 3,059 3,232 2,551 5,133
15,509 375,306 385,150 341,812 389,657 448,262 398,648
^44,605
195,540
568,695
850,079
1,369,871
2,021,869
2,131,004
1,834,795
1,528,793
1,176,329
940,934
1,655,394
517,583
287,917
635,810
345,468
79,143
32,606
58,649
12,401
12,012
73,364 3,300,687 '16,310,287 2,040,652
2,113 26,826 57,353 114,994 137,775 215,736 200,762 181,876 150,502 127,545 247,596 91,020 57,618 161,643 125,918 34,906 14,787 29,083 5,693 6,846
7,909 85,547 110,851 100,867 93,096 83,339 69,532 42,626 25,9L2 21,812 12,138 22,430 5,461 2,530 2,836
^15,159 44,281 161,452 251,822 342,163 399,073 381,094 274,666 193,454 183,932 116,503 264,132 94,104 55,735 95,433 51,890
12,174 4,873
10,570 4,824 6,351
5,594 12,505 21,562 33,109 37,174 28,457 21,053 22,205 15,287
38,753 16,236 11,032 24,658 18,629 5,418 2,078 5,462 2,446 3,112
66,545 57,048 61,939
73,044
71,328 51,554 40,267 25,593 16,901 22,892 5,495 2,224 3,524 822
^23,822 42,681 98,138 141,938 217,746 349,800 388,979 332,601 301,516 215,706 160,212 269,011 92,590 49,994 122,173 55,789
Total
Pittsburgh standard metropolitan e
16,312 442,856 528,303 510,970 546,653 551,813 493,419 323,042 216,015 126,683 88,150 134,524 30,794 15,501 22,320 7,570
1,033
^50,970
233,553
782,010
1,276,331
1,915,128
2,486,635
2,701,475 2,088,372 1,612,410 1,072,290 336,046
123,795 42,914 59,762 27,823 52,065
2,811 39,163 95,155 163,721 222,728
267,953 223,815 191,443 135,506 110,908 238,395 94,503 69,955 196,369 177,414 53,065 20,000 29,327 12,969 22,791
056,485 '18,967,829 South Garolini
^3,398 45,618 141,990 240,793 320,135 296,330 243,288 211,445 119,931 95,511 66,718
127,509 51,735 31,536 42,562
22,578 4,765
4,846 86,328 95,352 97,265 92,717 66,267 44,736 32,802 16,229 11,375 7,070 10,812 3,009 1,421 1,323
4,136 10,489 19,093 21 ; 528 20,402 19,861 12,768 11,410
9,897 7,484 1,951
4,253 91,316
105,643 94, 317 96,174
103,275
127,478 70,535 53,174 31,158 27,346
36,257 8,368 3,709 5,658 1,267 255
45,196 156,774 232,194 336,118 469,160
697,143 455,434 396,797 262,577 253,303 424,379 142,153 32,220 139,612 33,275 30,355 12,052 19,335 7,479 23,128
8,373 16,429 32,384 44,637
71,528 48,642 50,321 32,714 34,650
16,903 49,779 30,662
13,397 5,830 9,420 3,128 8,995
3,816 37,532 43,852 35,141 30,887 20,503 19,610 9,205 7,422 6,334
63,431 87,942 108,354 90,851
106,553 59,075 55,925 53,151
52,799 22,32] 15,272 24,243 5,483
(M
833
7,313 4,055 3,417 6,432 1,959
(M
Remainder of Stat
Rhode Island
12,054 351,540 422,660 416,653 450,479 443,538
365,941 252,507 162,841 95,525 60,804 93,267 22,426 11,792 16,662 6,303 778
^43,384
188,357
625,236
1,044,637
1,579,010
2,017,475
2,004,327
1,632,933
1,215,613
309,713
577,243
1,156,225
386,483
263,160
553,479
421,694
93,440 30,862 40,427 20,349 23,937
2,352 30,785 78,726 131,337 178,091 196,425 175,173 141,122 102,792 76,253 173,461 63,988 53,047 146,590 146,752 39,668 14,170 19,907 9,841 13,796
32,427 46,076 46,932 45,706 46,434
33,629 22,319 15,406 7,223 4,504
8,150 2,165 1,085 1,659
'276 15,377 69,179 119,427 159,674 210,169 133,226 143,295 116,661 60,991 42,569
96,005 37,533 23,832 57,235 28,167
7,237 160,376 175,693 169,119 129,327 94,441
84,094 58,471 30,503 27,441 13,646
24,107 6,465 3,279 4,708 1,271
,221
'38,445 91,184 259,435 421,639 450,639 422,488 459,265 378,553 227,231 231,844 129,137 282,472 111,141 72,523 153,413 32,134 19,632 8,555 10,109 2,130
7,247 17,513 29,363 32,003 42,550 39,742 26,262 27,113 15,910 41,196 19,775 14,422 40,624 30,070
27,535 348,703 396,307 357,877 372,025 326,625 289,754 206,567 136,523 80,016 59,789 109,285 30,042 13,130 17,517
Texas
'71,455
191,638
534,830
893,662
1,299,625
1,465,911
1,588,838
1,337,333
1,023,353
679,082
565,352
1,232,042
513,506
292,139
574,379
262,853
70,317
32,956
57,714
22,163
30,571
end of table. See te
70
INDIVIDUAL INCOME TAX RETURNS FOR 1958
-ADJUSTED GROSS INCOME AND INCOME TAX, BY ADJUSTED GROSS INCOME CLASSES AND BY STATES AND TERRITORIES— Co
[Taxable and nontaxable returns)
No adjusted gross ini
Under $1,000
$1,000 under $2,000.
000 under $6,000 000 under $7,000, 000 under $8,000 000 under $9,000, 000 under
000.
$25
000 under $15,000. . 000 under $20,000.. 000 under $25,000.. 000 under $50,000.. 000 under $100,000.
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total.
No adjusted gross inci
Under $1,000
$1,000 under $2,000.. $2,000 under $3,000.. $3,000 under $i,O0O. . $4,000 under $5,000..
,000 under $6,000..
,000 under $7,000. .
,000 under $8,000..
,000 under $9,000..
,000 under $10,000.
$6
',000 under $15,000..
,000 under $20,000..
1,000 under $25,000..
,000 under $50,000..
1,000 under $100,000.
$25 $50,
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total.
(M
36,240
31,523
27,015
27,880
33,478
38,854
21,411
19,431
11,574
ington
66,362 99,199 152,708 213,457 139,069 145,574 98,599 65,000 134,477 34,428 19,163 28,046 15,211
(M
2,260 2,972 6,024 10,641
17,806 12,379 14,623 11,292 7,592
5,271
12,881 26,670 20,974 19,813 16,956
2,719 559
7,182 38,893 52,698
2,370 2,473 4,570
5,306 1,193 (1)'
6,863 162,483 205,326 171,373 160,919 133,168 104,658 75,026 49,476 33,431 26,800
^23,629 94,460 303,316 423,740 564,764 599,016
571,803 485,776 368,265 283,386 253,390 586,744 180,176
92,418 150,506
63,022
1,013 11,365 23,116 40,321 51,099
54,157 52,355 43,400 35,779 34,265 86,210 31,011 18,121 34,507 21,674 8,003
75,513 49,189 30,971 49,315 10,021 3,443 5,859 1,191 194
'17,536 51,991 141,419 224,415 356,447 579,849 664,853 574,805 563,787 416,239 293,492 577,772 171,340 77,605 192,282 78,623 22,310 5,975 9,053
67,841 53,558 42,154 22,467 12,914 7,323 13,134 3,722 1,222
45,810 134,310 201,123 256,628 305,410 292,565 273,362 168,647 109,668
69,590 153,076
64,083
560,207 '2,211,208
24,783 27,284 29,991 19,423 14,179 9,411
23,195 11,873
5,854 17,785 12,387
4,377 547
1,545
8,196 175,452 184,044 157,637 161,168 177,253 153,231 111,609 79,292 48,960 29,594
43,824 10,418 4,630
237,411 1,353,315
^10,407 96,937 269,865 398,928 567,378 801,325 840,471 723,826 589,567 412,863 280,012
510,968 180,400 103,570 207,016 90,863 26,550 8,706 17,756
1,045 13,513 26,211 43,711 76,398 77,061 75,497 69,146 51,773 37,884 74,789 30,409 20,012 49,090 30,096 11,051 3,542 7,396
(1)
12,506
15,208
13,308
11,920
11,536
14,433 11,380 6,423 3,557
4,247
See text for "Description of ^Sample variability is too la ^Adjusted gross deficit. 'Adjusted gross income less adjusted gross defi ^Returns of citizens of Puerto Rico who are alsi Virgin Islands, and citizens abroad.
22,840 32,772 42,073
74,229 46,795 30,148
50,407 15,610 11,487 22,533 5,002
(M
1,380 1,758 3,284 4,336 7,179 7,107 5,291 3,605
7,813 2,871 2,360 6,005 1,901
(M
7,295 23,781 21,192 15,066 15,878
7,014
4,719
^937 10,612 29,923
38,801 54,618 31,406 25,374 28,667 37,119 39,645
of United States
deleted for
iding in Puerto Rici
14,350 27,869 56,769
64,013 60,160 64,367 53,435 41,008 87,290 31,692 16,373 49,713 30,462
9,049
2,730 4,389
2,240 2,766 2,263
11,109 4,587
1,933
of United States residing in Panama Canal Zone
HISTORICAL TABLES INDIVIDUAL RETURNS. 1949-1958
Page
17. Number of returns by major characteristics, adjusted gross
income and deficit, taxable income, and tax 72
18. Returns with income tax — number, adjusted gross income, and
average tax, by adjusted gross income classes 73
19 . Sources of income by type 74-
20 • Itemized deductions on returns with adjusted gross income, by
type 74.
21. Selected sources of income by adjusted gross income classes.. 75
22. Number of returns, adjusted gross income, and income tax, by
States and Territories 78
71
72
INDIVIDUAL INCOME TAX RETURNS, 1949-1958
Table 17.— NUMBER OF RETURNS BY MAJOR CHARACTERISTICS, ADJUSTED GROSS INCOME AND DEFICIT, TAXABLE INCOME, AND TAX
of
leturns with adjusted gross i: Taxable:
With income tax
Self-employTiient tax only. Nontaxable:
Self-employment tax only.
Other nontaxables
Returns with :
adju
gros
Nontaxable;
Self-employment tax only. Other nontaxables^
Number of —
Taxable returns Nontaxable
Returns with itemized deductions. Taxable
Nontaxable:
With adjusted gross income... With no adjusted gross income
Returns with standard deduction..
Taxable
Nontaxable:
with adjusted gross income
With no adjusted gross income^.
Number of returns '
self-employment taxable income. .
Number of returns by source of inco
Salaries and wages
Dividends in adjusted gross inc
Interes t received^
Annuities and pensions:
Life expectancy method
3-year method
Income from estates and trusts.
Business profit
Partnership profit
Net gain from sales of capital assets. Net gain from sales of other property.
Rents and royalties net income
Other :
Business loss
Partnership loss
Net loss from sales of capital assets. , Net loss from sales of other property..
Rents and royalties net loss
Net operating loss deduction*
Loss from estates and trusts
Amount of adjusted gross
Amount of adjusted gross deficit, total. Returns with only self -employment tax.
59,085,182 58,700,92.4
20,811,'i22
19,053,714
38,273,760 26,598,420
51,588,438 4,235,017 7,407,670
740,180
268,920
370,879
6,880,831
1,611,329
3,469,064
104,270
4,039,106
1,499,888 266,259 920,573
130,753 1,513,200
59,825,121 59,407,673
20,155,361 18,569,233
39,669,760 28,296,082
6,992,226 47,116,645
52,596,961 4,168,499 7,286,314
659,356
261,085
362,324
6,775,335
1,606,524
2,936,564
127,417
4,097,602
1,474,967 265,951
1,038,208 150,294
1,404,920
20,167
59,197,004 53,798,843
18,458,563 16,972,938
40,733,441 29,285,703
51,912,814 3,924,583 6,715,135
613,747
209,212
375,008
7,381,270
1,550,819
3,148,460
98,875
4,090,501
1,591,397 244,719 783,596 206,108
1,319,253
28,102
58,250,188 57,818,164
16,891,084 15,434,733
41,359,104 29,254,332
51,255,701 3,715,617 6,330,784
575,633
192,029
360,155
6,736,435
1,687,570
2,899,881
109,983
3,985,860
1,508,662 267,102 654,121 157,919
1,253,080
20,978
56,747,008 56,306,704
is, 701, 595 13,711,830
41,CK5,413 28,921,230
4,211,656 42,814,133
49,925,305 3,631,007 6,124,385
[ 730,279 368,806
6,320,812 1,538,046 2,411,147 135,062 3,363,618
1,464,726 223,949 664,034 207,456 1,143,837 34,781 12,258
57,838,184 57,415,885
12,209,756 422,299
14,426,417 12,932,132
1,089,008 405,277
43,411,767 32,291,019 11,120,748
4,217,492
50,373,912 4,495,133 5,579,720
735,471 426,823 6,121,474 1,&;9,591 1,987,723 93,741 4,061,630 1,861,744
1,281,395
241,505 789,370 151,152 1,192,880 38,205
56,528,817 56,107,089
12,240,257 421,728
12,835,776 11,462,609
43,693,041 32,413,664
49,842,862 4,218,722 5,196,439
634,381 425,659 5,791,797 1,625,320 2,034,196 98,733 3,865,368
124,402
1,054,992
29,987
55,447,009 55,042,597
12,405,800 404,412
11,581,695 10,212,822
43,865,313 32,435,788
48,538,699 4,033,391 4,324,056
598,330 432,106 6,127,629 1,692,545 2,132,037 100,765 3,835,520 2,353,892
1,017,713 219,839 582,413 180,335 977,980 30,570
53,060,098 52,655,564 38,186,682
14,468,832 404,534
10,320,293 8,724,545
42,739,9 29,462,136
45,147,211 3,668,423 4,410,271
525,514 387,298 5,876,922 1,872,550 1,895,963 117,067 3,727,762 2,273,576
250,928 668,038 182,540 899,337
149,337,414
281,308,431
835,201 149,363,077
141,532,061 33,265,247
229,863,409
216,087,449
203,097,033
179,374,473
726,202 726,202
13,374,922 18,374,922
'Excludes returns with no information 1953-56 and 1958.
^Reported on Form 1O40.
^Not available after 1953. Includes Forms 1O40A showing wages
'Not available prior to 1951 nor for 1955-53.
exceeding $100 per retuj'n, reported
INDIVIDUAL INCOME TAX RETURNS, 1949-1958
73
Tabu 18.— RETURNS WITH INCOME TAX— NUMBER, ADJUSTED GROSS INCOME, INCOME TAX, AND AVERAGE TAX, BY ADJUSTED GROSS INCOME CLASSES
NUMBER OF RETURNS
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,00a under $4,000
$i,000 under $5,000
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000
$1,000,000 or more
Total
ADJUSTED GROSS INCCME
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000
$1,000,000 or more
Total
INCOME TAX AFTER CREDITS
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 ujider $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000
$1,000,000 or more
Total
AVEEAGE INCOME TAX PER TAXABLE RETURN
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
,150,000 under $200,000
.,'jO,000 under $500,000
■ 10,000 under $1,000,000
,-,000,300 or more
,296,407 1,127,075 1,111,329 1,537,591 1,807,388 ,,295,457 ,,954,051 ',702,182 1,484,984 587,465 264,487
369,515 91,605 14,049 3,345 3,937 531 236
1,338,986
2,257,213
2,252,645
2,764,261
2,930,022
6,682,982
7,454,551
17,697,020
2,211,504
543,154
250,583
366,156
93,289
14,089
1,117,050 2,831,221 3,937,439 6,225,270 8,079,602 23,443,457 33,541,308 119,494,167
25,971,375 9,294,499 5,576,891
12,220,088
6,124,500
1,681,598
632,301
1,122,465
393,591
427,474
262,188,335 252,169,296
.,083,049 1,683,333 1,675,817 i, 714, 958 ',735,369 1,091,696 .,278,974 1,222,381
1,176,927 1,041,325 ,,875,992 !,313,280
.,644,279 658,563 ,109,680 356,220 482,640
38,062
190, 127
305,532
456,973
671,315
1,997,817
2,945,326
13,389,037
4,291,393 1,757,062 1,168,543
\ 3,101,822 2,106,658 689,633 291,744 515,358 174,941 233,159 34,335,652
39,228
201,203
332,570
520,852
716,095
2,169,991
3,150,403
13,381,929
3,851,330
1,638,348
1,120,885
3,104,270
2,173,193
716,994
307,373
536,036
200,731
231,648
1,727
2,991
4,418
8,394
22,997
49,083
75,376
131,023
329,456
987,952
423 756 1,742 3,016 4,473 8,478 23,295 50,390 77, U4
1,357,447
2,392,096
2,364,317
2,873,453
3,169,007
7,153,365
7,650,165
16,179,494
1,918,975
497,449
234,745
346,246
39,095
1,130,213 3,005,109 4,129,399 6,474,182 8,737,643 25,144,783 34,380,979 3,296,216 22,543,784 8,531,736 5,215,782
5,900,331
1,679,344
659,130
1,138,037
396,602
549,625
249,551,275
39,381
213,334
344,842
548,045
769,289
2,312,101
3,186,754
12,190,219
3,369,114
1,520,665
1,053,133
3,009,248
2,128,630
708,331 297,130 545,677 202,455 288,234
1,437,846
2,483,242
2,447,663
2,961,513
3,313,528
7,529,308
7,619,205
14,328,468
1,517,076
425,730
210, 172
I 120,427
I 190,539
77,563
1,200,421 3,106,659 4,265,817 6,666,813 9,157,665 26,407,948 34,203,137 94,801,910
3,284,321 I 7,133,272
5,149,111
1,542,840 674,131
1,140,318 414,315 550,864
42, 172
216,479
352,943
551,714
793,795
2,381,762
3,129,354
10,614,024
2,692,340
1,308,272
961,030
( 745,939
I 1,962,136
1,852,467
653,397
305,830
549,179
209,848
290,935
23,892
50,425 77,317 135,370 341,408 1,075,500
I 6,194
I 10,295
23,883
50,643
77,631
136,987
336,295
1,106,410
663
1,292,938 2,426,670 2,431,232 3,073,559 3,452,029 7,924, 537 7,545,254 12,355,239
291,668 161,897 70,332
11,617 3,192 3,234
437
1,078,798 3,047,987 4,237,823 6,922,726 9,505,225 27,312,489 33,328,835 81,237,475
1,389,769 546,951 915,760 293,111 406,532 209,668,830
37,648
213,519
344,535
575,180
817,847
2,467,295
3,049,831
9,210,378
614, 555 257,014 455,363 154,785 222, 374
1,361,444 2,632,034 2,787,231 3,335,910
3,685,629 8,202,537 7,656,402 12,490,576
264,008 150,981 60,260
12,461 2,692
1,146,237 3,299,462 4,365,679 7,493,336 10, 156, 359 28,746,397 34,370,599 31,752,318
753,081 252,379 275,263
210,483,602
255,864 449,372 695,210
988,259 2,871,975 3,545,531 10,443,227
1,566,556 1,786,009 1,645,090
414,246 149,012 169,496
1,420,812 2,760,133 2,963,805 3,568,839
3,883,813 8,552,203 7,279,244 10,609,222
14,114 3,195
1,610,092
2,754,583
3,115,581
3,814,784
4,173,241
8,858,530
6,949,135
3,699,138
831,819
295,919
( 154,766
I 93,693
149,837
67,447
( 12,045
42,333,675 41,594,222
1,191,714 3,463,102 5,176,733 3,030,291 10,717,097 29,930,509 32,575,069 68,763,095
891,963 273,310 289,224
1,354,605 3,452,761 5,446,167 8,578,144 11,530,006 30,946,234 31,016,829 55,338,593
9,923,727
5,073,155
( 3,447,638
I 2,556,301
5,651,016
4,500,312
I 1,440.965
I 687,244
1, 100,454
349,694
344,640
183,243,590
46,964
271,039
477,751
748,512
1,022,509
2,941,669
3,323,844
8,349,348
2,024,375
1,153,592
1,520,457
1,830,556
1,811,292
934,889 495,354 164,954 130,195
52,901 80,518 140,805 354,199 1,106,333 625
i 65,203
153,380
400,570
1,168,938
2,059 3,575 6,026
155,200
396,543
1,217,541
50, 542 241,320 461,740 721,975
998,321 2,728,262 2,919,638 5,607,556 1,594,410 978,921 I 759,746 I 628,012 1,677,416 1,773,160
( 687,725
I 356,130
612,801
211,452
213,653
1,570,113
2,653,365
3,333,412
4,132,168
4,585,740
8,668,606
5,740,400
6,114,699
679,114
255,019
139,837
83,645
136,462
62,689
1,310,310 3,331,544 5,318,935 9,290,893 12,652,390 30,154,936 25,557,691 39,046,068 8,143,940 4,396,990 3,110,433 2,281,381 5,144,080 4,192,517 1,386,519 676,791 1,141,235 419,452 433,407
40,337
197,079
413,125
647,370
890,984
2,177,241
2,043,783
3,983,698
1,157,379
757,996
615,381
505,853
1,382,086
1,517,006
613, 196 328,914 602,558 239,881 260,550
I 6,703
11,195 26,364
[ 57,096
I 83,855
156,927
404,306
1,249,433
651
1,704
2,961
4,401
6,048
10,128
24, 199
53,026
83,312
U3,486
385,042
1,189,726
431
74
INDIVIDUAL INCOME TAX RETURNS. 1949-1958
Table 19.— SOURCES OF INCOME BY TYPE
[eturns with adjusted gross income: Positive income:
Sa laries and wages^
Dividends in adjusted gross income^...
Interest received^
Annuities and pensions:
Life expectancy method
3-year method
Income from estates and trusts
Business profit
Partnership profit
Net gain from sales of capital assets. Net gain from sales of other property.
Rents and royalties net income
Other sources*
Total
Losses:
Business loss
Partnership loss
Net loss from sales of capital assets. Net loss from sales of other property.
Rents and royalties net loss
Net operating loss deduction^
Loss from estates and trusts
Total
Adjusted gross income
;eturns with no adjusted gross income: Positive income:
Salaries and wages^
Dividends in adjusted gross deficit^..
Interest received^
Annuities and pensions:
Life expectancy method
3-year method
Income from estates and trusts
Business profit
Partnership profit
Net gain from sales of capital assets. Net gain from sales of other property.
Rents and royalties net income
Other sources'
Total
Business loss
Partnership loss
Net loss fYom sales of capital assets. Net loss from sales of other property.
Rents and royalties net loss
Net operating loss deduction^
Loss from estates and trusts
Other sources ( negative)
Total
Adjusted gross deficit
227,354,096 |
227,949,466 |
215,482,206 |
200,580,472 |
185,794,926 |
137,607,362 |
174,193,394 |
160,336,699 |
138,956,127 |
124,798,953 |
8,702,680 |
9,090,207 |
8,566,577 |
7,819,949 |
7,030,900 |
5,804,993 |
5,334,215 |
6,030,895 |
6,130,906 |
5,218,206 |
3,618,353 |
3,290,387 |
2,846,566 |
2,555,609 |
2,349,915 |
2,0a,369 |
1,822,337 |
1,684,015 |
1,582,398 |
1,511,555 |
883,443 435,429 |
754,404 384,057 |
655,595 284,477 |
624,567 244,995 |
> 799,292 |
670,329 |
581,672 |
499,306 |
429,767 |
441,969 |
613,471 |
616,593 |
617,738 |
565,036 |
583,434 |
1,636,754 |
1,700,139 |
1,739,064 |
1,639,754 |
1,435,302 |
22,868,229 |
22,462,196 |
23,629,9(>i |
20,566,259 |
19,218,571 |
18,646,959 |
18,180,679 |
18,131,463 |
16,846,649 |
15,613,095 |
9,792,725 |
9,936,979 |
9,36£,565 |
9,530,872 |
8,973,393 |
3,784,424 |
8,799,142 |
8,352,180 |
8,554,469 |
7,894,590 |
4,792,409 |
4,048,433 |
4,874,682 |
5,024,200 |
3,614,012 |
2,473,486 |
2,761,088 |
3,185,644 |
3,181,051 |
1,886,459 |
74,426 |
87,146 |
71,854 |
93,616 |
104,930 |
60,359 |
102,826 |
83,761 |
101,494 |
100,890 |
3,9a,429 |
3,888,584 |
3,859,966 |
3,660,430 |
3,497,917 |
3,605,573 |
3,432,513 |
3,299,943 |
3,183,655 |
3,024,215 |
2,190,652 |
1,932,052 |
1,297,767 |
792,714 |
679,067 |
889,025 |
794,378 |
1,199,951 |
1,008,812 |
1,030,824 |
285,247,342 |
284,440,504 |
271,555,897 |
252,058,719 |
232,746,855 |
232,251,633 |
213,202,383 |
205,042,926 |
131,655,582 |
162,955,058 |
1,385,671 |
1,351,743 |
1,491,639 |
1,297,251 |
1,293,519 |
1,073,477 |
1,009,459 |
939,922 |
840,420 |
635,138 |
372,488 |
337,673 |
333,264 |
330,305 |
259,724 |
266,799 |
241,285 |
231,766 |
223,547 |
248,785 |
528,572 |
622,057 |
421,409 |
357,641 |
362,625 |
437,349 |
348,557 |
268,302 |
313,886 |
331,192 |
111,585 |
116,990 |
162,611 |
121,497 |
' 129,023 |
111,682 |
89,145 |
126,056 |
132,306 |
101,086 |
665,037 |
640,838 |
540,132 |
509,487 |
401,740 58,329 |
457,509 40,391 |
383,212 43,724 |
342,834 36,511 |
230,930 |
266,667 |
17,571 |
12,772 |
23,028 |
13,360 |
5,540 |
- |
- |
- |
- |
- |
3,080,924 |
3,132,073 |
2,972,083 |
2,629,541 |
2,511,000 |
2,338,207 |
2,115,332 |
1,945,391 |
1,791,139 |
1,582,868 |
282,166,418 |
281,308,431 |
268,583,814 |
249,429,132 |
230,235,855 |
229,863,409 |
216,087,449 |
203,097,033 |
179,374,478 |
161,373,205 |
196,461 |
127,443 |
135,775 |
131,633 |
157,697 |
126,058 |
145,638 |
144,998 |
116,998 |
84,195 |
37,882 |
33,550 |
39,079 |
30,954 |
16,966 |
23,286 |
25,409 |
25,120 |
26,793 |
28,021 |
40,858 |
28,563 |
25,447 |
28,000 |
20,315 |
20,780 |
24,562 |
13,200 |
12,706 |
16,275 |
'!> |
(°) |
1,713 |
(') |
} 6,777 |
(») |
2,139 |
503 |
2,048 |
1,439 |
4,547 |
(») |
7,639 |
578 |
(») |
4,722 |
11,096 |
22,361 |
10,318 |
8,066 |
21,747 |
63,750 |
31,986 |
30,964 |
16,041 |
30,740 |
14,314 |
31,078 |
16,735 |
16,451 |
17,433 |
26,739 |
24,413 |
22,572 |
30,150 |
18,476 |
34,656 |
13,865 |
21,038 |
17,638 |
86,705 |
79,795 |
116,449 |
102,150 |
117,350 |
65,040 |
74,777 |
96,777 |
77,520 |
69,061 |
(') |
(') |
(») |
3,134 |
2,881 |
2,526 |
13,770 |
5,142 |
1,694 |
5,e02 |
40,474 |
56,668 |
60,488 |
36,839 |
38,375 |
53,693 |
56,583 |
53,415 |
40,797 |
35,417 |
15,706 |
5,013 |
11,624 |
19,731 |
6,958 |
8,598 |
10,262 |
9,965 |
||
449,152 |
422,510 |
459,401 |
393,914 |
420,382 |
365,487 |
409,902 |
425,057 |
336,959 |
292,130 |
830,727 |
834,836 |
885,605 |
869,969 |
1,015,290 |
940,584) |
873,919 |
756,666 |
758,250 |
763,734 |
205,914 |
217,129 |
207,389 |
199,192 |
213,518 |
248,9161 |
150,234 |
227,316 |
187,740 |
189,353 |
20,538 |
20,638 |
17,056 |
17,572 |
16,821 |
24,88f! |
16,905 |
16,373 |
16,742 |
19,501 |
45,929 |
44,489 |
148,910 |
97,067 |
70,035 |
70,954 |
50,624 |
73,267 |
53,140 |
72,716 |
70,124 |
45,329 |
36,209 |
101,810 |
27,802 |
73,894 |
24,892 |
38,322 |
47,293 |
46,104 |
- |
- |
86,136 |
161,411 |
90,865 |
68,668 |
- |
- |
||
280,732 |
245,824 |
- |
- |
- |
- |
- |
- |
- |
|
1,416,478 |
1,410,375 |
1,318,947 |
1,292,773 |
1,434,862 |
1,520,647 |
1,207,439 |
1,185,612 |
1,063,165 |
1,091,408 |
1,012,32b |
987,865 |
859,546 |
898,865 |
1,014,480 |
1,155,153 |
797,541 |
760,548 |
726,202 |
799,280 |
o income tax withholding, reported eived through partnerships and fidu
^Excludes wages, for 1949-57 less than $100 and for 1958 less than $200 per return, not subje 1954, salaries and wages are after excludable sick pay and allowable employee expense.
^Dividends reported on Forms 1040. Beginning 1954, includes dividends eligible for exclusion after exclusions.
■'interest reported on Forms 1040. Includes partially tax-exempt interest received directly or through partnerships and fiduciaries.
''includes wages not subject to income tax withholding, dividends, and interest, not exceeding $100 per return for 1949-57 nor $200 for 19 Beginning 1955, reduced by net operating loss deduction.
'por 1949-50, net operating loss deduction was reported as a business deduction; for 1955-58, it was an adjustment which reduced "Other
^For 1954-58, salaries and wages are after excludable sick pay and allowable employee expense.
''For 1955-56, reduced by net operating loss deduction.
^Sample variability is too large to warrant showing separately. However, the total contains data deleted for this reason.
income on Fv^rms 1040A. Beginning All tabulated amounts, however, art
reported in one sum on Forms 1040A.
Table 20.— ITEMIZED DEDUCTIONS ON RETURNS WITH ADJUSTED GROSS INCOME, |
BY TYPE |
|||||||||
Type of deduction |
1958 1 1957 1 1956 | 1955 | 1954 | 1953 |
1952 |
1951 1 1950 |
1949 |
||||||
mous.nd dollar,) |
||||||||||
6,269,154 7,430,346 5,693,336 4,283,546 3,771,026 |
L (Not (available) |
r 4,810,079 5,827,909 4,877,793 < 3,472,903 110,577 347,894 L 3,165,569 |
1 (Not ravailable) |
3,201,287 4,076,630 3,891,173 2,971,172 87,960 444,245 2,730,760 |
2,735,359 3,639,153 3,552,448 2,391,339 392,644 2,878,234 |
2,221,353 3,167,773 3,114,739 2,133,130 367,517 2,552,035 |
•avi?ia\le, |
■ 1,494,928 2,199,940 2,258,009 1,556,294 306,572 2,097,950 |
1,224,004 |
|
Taxes |
1,952,731 |
|||||||||
Contributions |
2,029,550 |
|||||||||
Medical and dental exnense |
1,432,699 |
|||||||||
227,596 |
||||||||||
Other deductions |
1,337,155 |
|||||||||
27,497,903 |
25,691,588 |
22,612,729 |
19,997,485 |
■ 17,403,227 |
15,589,177 |
13,556,552 |
11,856,378 |
9,913,693 |
8,753,738 |
|
INDIVIDUAL INCOME TAX RETURNS, 1949-1958
75
Adjusted gross
Table 21 . —SELECTED SOURCES OF INCOME BY ADJUSTED GROSS INCOME CLASSES
SALARIES AM) UAGESl Returns vith adjusted gross income
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000^
$5,000 under $10,000
$10,000 under $15,000
$15,000 imder $20,000
$20,000 under $25,000
$25,000 under $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000
$1,000,000 or more
Total
Returns vith no adjusted gross inci Grand total
1,128,719 1,862,471 3,904,993 4,846,089 6,662,191
8,522,612 22,510,230 29,557,033 109,423,351
22,647,613 5,700,081 2,741,831
,068,182
451,670 146,630 177,335 25,978 10,643
1,083,262 1,858,101 3,974,643 5,048,631 7,087,397
8,810,665 23,876,171 32,022,396 109,093,871
19,541,232 5,067,839 2,532,595 4,995,800 2,115,655
463,642 155,813 180,197 32,507 9,049
227,949,466
1,087,986 1,853,051 4,165,125 5,252,048 7,289,584
9,393,512 25,456,095 32,675,903 98,046,618
16,256,390 4,426,768 2,273,670 4,456,298 2,029,914
215,482,206
1,074,269 1,970,417 4,378,953 5,688,277 7,603,711
10,165,026 27,079,405 32,788,655 85,563,600
12,313,204 3,655,396 1,947,202 ( 1,285,890 I 2,628,218 1,680,933
407,839 142,553 167,679 31,409 7,836
200,712,105
1,137,682 1,958,083 4,433,881 5,873,995 8,119,186
10,641,552 28,790,162 32,468,575
72,550,811
375,500 120,346 142,322 17,062 6,108
135,952,623
1,208,770 1,974,738 4,587,925 6,257,596 8,470,037
10,956,687 29,243,923 32,721,872 73,196,798
2,714,536 2,272,934 1,383,787
430,495
124,054
16,289
4,193
187,733,920
1,197,251 1,964,031 4,763,672 6,761,372 9,147,821
11,757,228 30,554,952 31,342,772 60,361,693
2,435,160 2,102,804 1,415,540
463,227
140,743
17,596
4,439
1,146,950 2,154,234 4,765,215 7,062,581 9,758,258
12,
,191
31,270,695 29,561,094 47,621,929
5,626,778
2,308,530
' 1,455,628
372,495 139,834 160,592 24,074 4,077
1,093,015 2,247,748 5,003,951 7,866,925 10,880,058
13,995,835 30,717,185 23,861,823 31,515,233
4,175,514 1,855,309 1,205,394 847,817 1,768,317 1,256,908
330,615 133,105 164,845 27,827 7,693
138,956,127
Returns with adjusted gross :
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000^
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
13,207 33,856 76,622 93,294 107,411
122,028
249,473
246,916
1,141,067
902,4
686,7
534,650
1,490,635
1,325,594
500,945 248,850 486,348 173,778 268,788
Total.
adjusted gross
13,190 46,286 76,218 103,416 112,009
126,162
243,555
248,651
1,205,321
909,330
687,088
555,163
1,515,706
1,337,553
543,819 272,131 513,149 192,143 289,307
9,090,207
33,550
11,016 30,433 66,284 83,725 102,587
101,644
238,110
226,897
1,007,925
852,897
664,455
511,237
1,595,905
1,285,630
543,917 251,820 495,611 191,563 298,920
3,566,577
39,079
13,273 35,254 73,884 85,559 95,903
109,095 219,895 225,344 986,005
745,815 560,954 447,336 382,213 1,022,511 1,128,788
503,035 239,550 471,294 137,071 286,153
7,819,949
30,954
10,178 36,901 65,505 95,448 93,973
94,509 200,461 243,493 946,788
780,502
868,526
1,003,075
420,263 200,724 376,622 143,601 202,998
7,030,900
16,966
16,520 45,296 91,6.47 104,656 103,491
109,970 194,240 202,211 923,150
613,459 719,058 730,003
441,507 259,377 93,413 118,724
5,804,993
23,286
18,235 42,557 68,815 39,243 90,594
101,725 196,131 199,570 845,370
593,130 729,432 802,253
312,377 100,881 132,139
5,SX,215
25,409
11,126 39,959
71,780
102,454 199,416 229,364 853,185
551,141 404,406 326,531 273,148 735,213 841,279
359,342 199,297 354,894 130,601 149,702
5,030,895
25,120
13,255 44,003 83,102 88,256 93,955
101,619 207,767 227,541 780,146
525,703 398,190 335,540 267,081 758,936 866,875
335,392 205,692 408,822 158,822 179,203
INTEREST RECEIVED'
Returns with adjusted gross
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000^
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
,000 under $30,
,000 under $50,
,000 under $100
$50
,000. ,
$100,000 under $150,000... $150,000 under $200,000... $200,000 under $500,000... $500,000 under $1,000,000. $1,000,000 or more
Total Returns
th 1
adjusted gross
30,360 66,408 119,714 125,110 142,054
130,464 256,374 246,323 937,560
451,995 255,049 169,785 373,004 190,775
52,735
20,476 31,907 8,473 8,237
23,563 54,264 110,631 129,774 119,550
122,393 224,553 209,724 861,455
403, 510 235,591 147,336 344,640 190,032
43,108 19,207 30,545
3,290,387 28,563
21,968 52,878 100,672 109,234 112,167
334,714 190,415 127,420 324,563 157,602
43,300 16,623 24,363
7,451
29,683 49,508 97,353 110,399 99,520
104,748 174,364 196,225
622,810
282,214 157,421 114,601 36,428 195,793 135,470
37,487 15,302 23,153 6,483 5,145
21,955 53,966 94,934 107,508 106,019
92,533 176,014 186,123
544,4
33,203 13,916 21,099
5,441 5,851
2,349,915
20,315
21,171 58,011 39,031 94,303 85,395
83,890 167,893 153,417 463,900
18,497 4,969 4,948
2,021,.
20,730
19,515 48,018 31,132
75,985 128,429 138,933 397,137
1,822,337 24,562
17,963 45,531 71,327 75,550 74,709
71,350 131,510 128,559 358,724
165,038 102,492 71,158 56,769 129,139 105,539
31,971 14,334 20,710 5,124 5,358
19,571 44,154 74,529 77,865
56,922 119,395 125,364 313,921
145,219 92,049 63,633 53,721
126,715 98,633
31,302
14,514 23,040 7,035 6,148
1,582,1
12,706
Footnotes at end of table.
76
INDIVIDUAL INCOME TAX RETURNS, 1949-1958
Table 21.— SELECTED SOURCES OF INCOME BY ADJUSTED GROSS INCOME CLASSES— Continued
Adjusted gross
BUSIKESS PROFIT Returns with adjusted gross income
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000^
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000
$1,000,000 or more
Total
Returns with no adjusted gross inc Grand total
141,708 311,799 631,416 745,8
946,780 2,104,r " 2,099,512 5,906,726
2,832,505 1,739,041 1,240,592
639,4
84,856 22,057 23,266 5,586 3,523
953,238 2,016,971 1,966,346 5,719,711
2,814,309 1,755,545 1,162,654 2,384,638 820,783
105,207 24,420 31,271
22,462,196 63,750
141,559 365,389 722,451 912,076 1,067,262
1,163,462 2,223,430 2,166,671 5,851,631
2,844,344 1,716,864 1,182,472 2,383,227
729,112
97,246 27,552 25,177 3,521 5,958
148,721 363,410 740,022 907,243 1,033,484
1,0
1,601
4,817,069
2,439,150 1,489,921 1,095,738
687,976 1,278,793
594,
87,752 26,552 22,151
20,566,259 30,964
140,3
351,725
727,315
874,895
982,191
1,068,887 2,030,897 1,659,320 4,587,587
97,073 25,205 25,587 4,815 3,393
19,218,571
16,041
1,117,768 2,161,646 1,738,647 4,437,881
109,996 23,707 3,950 3,622
18,646,959
30,740
105,506 300,727 672,572 922,504 995,599
1,137,327 1,994,450 1,608,172 4,087,451
1,952,696 1,207,256
1,338,082
37,901 8,703
4,537
110,282 295,738 728,071 963,095 1,143,414
1,199,742 2,137,1 1,643,200 3,845,706
1,845,160
1,111,531
722,619
530,230
1,030,518
592,563
120,883 45,980 49,098 10,149 5,593
114,250
324,004
760,470
1,023,688
1,112,335
1,148,598 1,987,815 1,512,663 3,433,953
1,672,103 930,517 657,762 466,571 915,644 518,650
108,929 45,033 42,470 10,005 5,684
16,846,649
16,785
PARTNERSHIP PROFIT Returns with adjusted gross income:
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000 139,833
$3,000 under $4,000 390,792
$4,000 under $5,000' 434,593
$5,000 under $10,000 1,982,053
$10,000 under $15,000 1,333,276
$15,000 under $20,000 993,434
$20,000 under $25,000 746,657
$25,000 under $30,000 I -, onn /oj
$30,000 under $50,000 ( ' '
$50,000 under $100,030 1,077,687
$100,000 under $150,000 236,710
$150,000 under $200,000.
$200,000 under $500,00 101,435
$500,000 under $1,000,000 18,500
$1,000,000 or more 8,655
Total .-. . 9,792,725
sted gross income 17,433
14,152 30,353 77,919 91,119 136,536
143,858
366,^52
472,467
2,028,768
1,392,921 984,322 747,154
1,945,585
1,033,209
96,576
19,137 11,435
9,936,979
26,739
16,694 29,404 66,949 90,795 111,029
151,173
395,649
441,200
1,932,182
1,778,210 927,671
229,513 75,232 99,149 14,935 3,767
9,368,565
24,413
21,249 39,528 75,846 109,059
197,795
475,302
516,311
2,017,557
1,261,849 900,070 681,380 525,325
1,221,649 864,953
236,442 85,299
108,622 21,633 16,359
15,953 42,612 73,154 109,592 139,110
195,356
499,378
524,379
1,918,999
1,106,191
1,085,314
345,897
226,849 76,267 , 97,570 18,696 9,141
8,973,893
30,150
28,178 41,165 122,912 136,535 191,775
189,498
488,679
543,540
1,907,899
83,977 7,504 9,238
8,784,424
18,476
19,096 30,079 99,112 122,307 167,412
208,154
481,853
523,664
1,397,693
324, 103
94,503 12,179 6,737
,799,142
34,656
16,706 48,311 96,867 160,234 200,335
262,254
1,051,772 705,792 537,934 443,065
1,075,101 860,375
263,131 120,821 130,461 22,340 11,971
21,497 60,550 141,159 194,078 258,331
296,255
590,004
533,728
1,671,464
979,046 655,394 531,980 396,470 945,936 790,584
232,332 104,599 120,174 20,875 9,513
8,554,469
21,038
RENTS AND ROYALTIES NET INCOME
Returns with adjusted gross i
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000
$3,000 under $4,000
$4,000 under $5,000'
$5,000 under $10,000
$10,000 under $15,000
$15,000 under $20,000
$20,000 under $25,000
$25,000 under $30,000
$30,000 under $50,000
$50,000 under $100,000
$100,000 under $150,000... 000 under $200,000... ,000 under $500,000... ,000 under $1,000,000.
$500
$1,000,000 or more
Total
Returns with no adjusted gross Grand total
Footnotes at end of table.
49,915 102,791 184,871 168,828
173,451
163,074 299,092 265,693 920,658
436,454 256,399 177,907 391,164 186,049
65,984 19,963 38,440 8,494 7,202
39,071 97,569 199,338 189,541 173,646
143,580 260,990 272,386 916,936
413,785 245,380 175,094
55,799 24,582 38,761
3,888,584 56,668
98,725 165,689 139,740 182,279
150,352 290,067 284,039 922,922
407,483 244,176 148,185 393,462 206,348
63,314 22,200 31,251 11,175
49,025 99,395
193,780 193,291 160,259
168,491 248,386 275,361 856,754
370,803 213,825 151,199 115,945 252,711 179,863
60,149 22,093 26,598 11,563 9,939
3,660,430
36,839
41,127 104,290 188,819 187,277 179,552
54,837 16,968 23,660 7,544 11,577
3,497,917
38,375
45,824 124,392 222,799 202,593 177,305
156,324
55,024 22,779 7,812 7,633
3,605,573 53,693
50,957 126,343 205,770 180,549 193,229
164,104 298,717 309,033 703,866
30,245 9,747 9,457
3,432,513
56,583
48,165 122,690 183,913 184,474 163,302
173,332 286,648 269,209 725,908
275,666 164,292 113,690
49,728 24,002 38,128 10,807 5,835
3,299,948
53,415
50,527 123,492 193,824 191,576 192 ,682
163,665 293,103 274,183 634,310
266,130 157,472 106, 199 85,523 186,746 143,211
46,093
20,212 31,614
3,183,655 40,797
INDIVIDUAL INCOME TAX RETURNS, 1949-1958
77
Table 21.— SELECTED SOURCES OF INCOME BY ADJUSTED GROSS INCOME CLASSES— Continued
Adjusted gross
NET GAIN FROM SALES OF CAPITAL ASSETS' Returns with adjusted gross income:
Under $600
$600 under $1,000
$1,000 under $1,500
$1,500 under $2,000
$2,000 under $2,500
$2,500 under $3,000.. $3,000 under $4,000.. $^,000 under $5,000^. $5,000 under $10,000.
$50,
000 under $15,000.. ,000 under $20,000. . 000 under $25,000.. ,000 under $30,000.. ,000 under $50,000.. 000 under $100,000.
$100,000 under $150,000. . .
$150,000 under $200,000
$200,000 under $500,000
$500,000 under $1,000,000. $1,000,000 or more..
Total.
37,784 40, 186 64,185 68,271 90,877
102,852 226,943
200,402 770,713
478,126 313,791 236,069
543,000
232,796 130,035 288,404 131,512 207,989
,792,409
23,284 30,565 63,473
77,517 76,570
96, 596
153,870 147,009 658,133
418,554 265,128 201,438
499,430
450,835
215,374 118,403 268,416 150,959 132,829
4,048,433 79,795
24,671 35,604 68,933 91,719 82,148
78,381 177,789 157,514 723,981
484,023 315,623 225,448 675,595
584,060
292,570 138,576 321,853 154,496 241,698
4,874,682 116,449
25,150 31,594 63,294 66,171 85,536
78,582 160,465 166,223 737,695
505,190 315,266 24.4,3i9 206,135 545,813 584,414
279,105 155,398 352,739 172,962 248,119
5,024,200 102,150
20,495 30,410 57,167 58,313 66,076
66,450 150,584 133,241 554,328
190,598 103,502 244,209 107,312 166,997
3,614,012 117,850
23,168 24,137 57,547
67,681 120,881 124,908 429,908
191,165
212,733 239,314
148,129 69,489
70,806
2,473,-186 65,040
26,232 27,556 52,306 75,277 72,695
71,874 137,801 144,446 445,218
209,578 242,771 290,963
176,568 86,991 74,005
21,807 27,239 58,668 74,925 80,772
94,152 168,461 155,947 526,485
268,752 177,354 136,261 109,252 280,244 319,090
153,938 96,578
236,179 99,022
100,518
25,107 52,092 61,613 60,680
82,557 150,798 169,433 548,260
271,947 178,163 134,689 101,002 275,264 304,552
156,603 98,251 229,949 132,378 131,283
2,761,088 74,777
3,185,644 96,777
3,181,051
77,520
21,097 24,145 38,513 53,935 58,201
62,442 137,437 137,385 364,957
158,883 96,901 67,610 51,114 134,720 149,645
68,994 42,776 97,455 46,193 74,057
1,886,459 69,061
^Excludes wages, for 1949-57 less than $100 and for 1958 less than $200 per return, i alaries and 'rages are after excludable sick pay and allowable employee expense. ^For 1949-52, includes nontaxable returns with income exceeding the class limit. 'Dividends reported on Forms 1040. Beginning 1954, includes dividends eligible for <
ithholding, reported i
I Forms 1040A. For 1954-58,
ed through partnerships
eluded from adjusted gross
All tabulated i
short-term gain <
78
INDIVIDUAL INCOME TAX RETURNS, 1949-1958
Table 22.— NUMBER OF RETURNS, ADJUSTED GROSS INCOME, AND INCOME TAX, |
BY STATES AND TERRITORIES |
|||||||||
States and Territories |
1958 |
1957 |
1956 |
1955 |
1954 |
1953 |
1952 |
1951 |
1950 |
1949 |
mJWER OF RETUHNSl |
798,233 46,476 357,947 437,224 5,380,726 577,895 942,535 152,585 331,081 1,420,349 1,007,090 215,402 213,CS3 3,717,343 1,521,475 947,704 755,522 833,388 815,793 . 335,513 1,147,038 1,965,671 2,575,775 1,141,280 414,701 1,439,689 225,722 496,852 101,535 222,377 2,218,235 261,903 6,411,995 1,236,162 206,125 3,300,687 698,374 586,487 4,056,485 314,252 571,968 224, 34i 990,437 2,776,751 270,570 128,313 1,199,987 964,507 560,207 1,353,315 111,200 119,297 |
797,638 49,789 344,657 437,599 5,361,993 575,065 953,721 153,896 337,129 1,377,490 1,006,981 212,520 213,015 3,794,017 1,547,965 953,282 745,702 .861,887 819,737 343,808 1,177,889 1,984,951 2,699,377 1,156,436 412,648 1,455,037 230,389 497,461 99,205 225,714 2,248,216 253,793 6,522,596 1,240,340 205,814 3,416,230 705,955 591,142 4,162,856 320,589 571,904 224,341 999,391 2,780,837 269,233 132,575 1,199,797 969,665 593,185 1,374,699 116,263 97, 132 |
783,854 38,440 321,053 435,817 5,155,868 571,640 948,846 151,794 332,361 1,282,833 989,083 207,901 211,155 3,789,915 1,560,526 959,867 746,312 849,680 785,486 341,666 1,190,659 1,978,612 2,715,040 1,148,791 409,517 1,467,753 230,720 504,203 99,000 219,487 2,230,3Ce 238,738 6,458,901 1,210,540 206,616 3,422,694 703,782 603,542 4,168,160 325,855 564,304 225,008 987,464 2,726,396 262,742 133,980 1,187,217 971,396 586,368 1,365,707 111,087 61,883 |
739,524 47,185 300,697 415,988 5,089,543 552,922 941,287 146,365 342,596 1,182,710 962,294 205,298 207,584 3,745,696 1,552,459 968,399 751,806 833,055 753,639 330,246 1,142,863 1,967,702 2,726,998 1,137,958- 377,712 1,466,425 239,700 506,436 95,964 221,136 2,182,689 225,458 6,393,653 1,163,918 206,016 3,424,898 690,467 592,592 4,134,583 23,360 329,620 542,655 229,308 947,411 2,643,005 258,100 132,868 1,152,305 956,097 572,779 1,355,304 112,669 29,451 |
713,389 279,907 390,897 4,733,521 522,393 919,793 140,203 346,729 1,093,433 386,480 196,816 199,676 3,664,301 1,528,812 949,318 733,946 797,181 726,310 337,301 1,084,152 1,946,708 2,631,029 1,109,306 336,270 1,443,093 218,442 497, 166 89,406 215,998 2,140,475 211,876 6,347,819 1,102,039 200,647 3,218,821 663,978 573,796 4,115,703 21,325 317,935 518,343 224,952 908,671 2,536,573 247,331 128,901 1,105,919 982,470 568,245 1,324,829 108,252 |
731,401 269,193 399,306 4,640,312 527,275 932,475 142,296 358, 314 1,051,866 920,035 200,739 200,197 3,780,956 1,582,879 960,696 744,285 823,859 745,188 341,047 1,220,258 2,013,856 2,706,164 1,136,124 345,964 1,467,128 221,685 501,474 84,721 222,857 2,191,420 211,922 6,510,765 1,099,125 201,670 3,365,384 674,504 582,873 4,261,351 333,802 525,688 220,008 928,575 2,492,889 248,910 133,947 1,100,376 994,502 607,584 1,353,327 111,093 |
710,102 263,003 384,817 4,598,269 509,876 903,371 139,153 397,855 979,277 884,181 198,799 204,223 3,702,381 1,560,771 956,125 735,424 300, 319 706,734 341,265 1,240,093 2,010,392 2,550,756 1,114,900 331,583 1,432,531 219,313 502,039 82,165 216,777 2,117,199 204,076 6,435,701 1,067,239 211,000 3,254,058 652,877 536,167 4,217,689 331,571 514,812 221,491 873,469 2,454,639 249,544 132,687 1,082,020 979,781 610,803 1,335,781 106,711 |
706,228 235,389 366,990 4,290,151 501,563 896,247 134,674 371 , 578 904,277 344,144 189,836 199,127 3,711,052 1,521,399 953,011 709,666 781,023 674,174 328,614 1,309,272 1,965,876 2,555,269 1,082,642 320,712 1,398,118 218,104 502,962 69 ,903 216,956 2,089,995 194,157 6,299,130 1,034,528 203,780 3,207,570 675,187 574,454 4,180,637 335,221 490,804 222,991 856,721 2,374,600 241,693 131,591 1,001,078 953,480 589,091 1,319,702 106,318 |
634,960 214,002 344,316 4,078,066 471,209 870,345 128,079 373,762 822,036 770,782 179,871 191,116 3,593,433 1,464,200 938,132 669,904 715,431 637,844 320,483 1,162,059 1,931,414 2,477,041 1,076,359 291,822 1,345,958 208,597 478,657 65,544 210,103 2,008,440 179,164 6,123,930 958,858 198,629 3,066,256 606,613 552,769 4,060,469 327,753 452,555 215,239 804,601 2,237,638 225,356 126,495 956,580 910,934 599,684 1,285,947 101,191 |
610,931 |
fll^ V |
- |
|||||||||
. |
||||||||||
A V |
||||||||||
459,267 |
||||||||||
r ticut |
||||||||||
1 |
||||||||||
. '. . - mlumbia |
||||||||||
PI -d 2 |
770,264 |
|||||||||
725,497 |
||||||||||
Tri h |
||||||||||
. . |
||||||||||
954,663 |
||||||||||
654,528 |
||||||||||
„ +,.„w |
||||||||||
- |
||||||||||
J |
1,104,645 |
|||||||||
, ,. |
||||||||||
M' 'q-^iDDi |
||||||||||
1,358,024 |
||||||||||
. . |
||||||||||
1,941,010 |
||||||||||
2,977,078 |
||||||||||
n ^ |
||||||||||
Pi t^ Ri d Virpin Islands |
- |
|||||||||
321,008 |
||||||||||
_ th DakQt |
||||||||||
T |
||||||||||
216,304 |
||||||||||
Virginia |
917,380 906,292 |
|||||||||
. y-pp-„io |
||||||||||
1,267,743 |
||||||||||
101,625 |
||||||||||
Other areas' |
- |
|||||||||
59,079,620 |
59,823,551 |
59,180,568 |
58,251,893 |
56,305,881 |
57,422,765 |
56,316,869 |
55,041,685 |
52,664,631 |
51,499,609 |
|
a/.o..w |
do/;.r=) |
|||||||||
3,291,834 285,361 1,712,650 1,507,479 29,770,013 2,755,736 5,141,238 909,922 1,655,251 6,269,910 4,167,257 896,695 890,415 19,640,236 7,004,294 3,967,906 3,197,240 3,251,131 3,606,286 1,223,815 5,660,245 9,202,549 12,921,648 4,964,750 1,443,458 6,399,098 912,288 2,018,793 566,527 931,225 11,863,692 1,137,707 34,017,074 4,455,781 761,562 |
3,216,964 290,254 1,598,086 1,423,375 28,559,931 2,579,683 5,151,011 895,720 1,556,075 6,056,183 4,011,521 897,985 849,284 19,923,139 7,252,595 3,654,332 2,962,089 3,359,160 3,640,116 1,255,725 5,685,935 9,106,049 14,238,093 4,907,244 1,392,740 6,249,130 974,573 1,749,155 530,165 908,346 11,667,443 1,111,271 33,893,484 4,467,355 673,681 |
2,964,568 234,171 1,456,967 1,417,590 26,643,536 2,551,364 4,984,439 874,233 1,523,972 5,414,935 3,793,532 835,360 832,577 19,234,581 7,032,222 3,474,393 2, 821, 165 3,121,415 3,296,122 1,193,432 5,511,023 8,751,324 13,910,812 4,716,179 1,351,135 6,188,542 890,246 1,767,094 496,276 839,322 11,135,104 965,266 32,208,136 4,230,500 663,252 |
2,679,330 244,100 1,263,300 1,311,805 25,132,639 2,225,143 4,625,939 794,649 1,555,827 4,607,886 3,519,978 801,826 729,642 17,270,748 6,592,920 3,270,824 2,739,766 2,920,886 3,025,241 1,028,641 4,928,627 8,285,733 13,401,902 4,373,102 1,204,171 5,936,919 897,301 1,679,067 455,553 797,094 10,304,398 891,310 30,427,648 3,984,982 575,222 |
2,445,188 1,133,078 1,221,340 22,023,493 2,137,817 4,330,913 659,777 1,474,718 4,069,109 3,149,890 719,347 750,695 16,597,198 6,103,459 3,276,360 2,748,186 2,772,582 2,800,016 1,031,944 4,531,032 7,553,935 12,194,265 4,077,055 1,076,518 5,494,885 840,262 1,666,113 410,893 750,875 9,626,661 804,415 28,907,625 3,591,944 552,491 |
2,451,310 1,065,139 1,178,792 20,361,528 2,072,906 4,275,815 691,070 1,488,332 3,807,180 3,080,357 705,874 676,761 16,558,187 6,309,457 3,282,905 2,687,459 2,733,890 2,731,283 1,066,856 4,828,309 7,809,602 12,619,118 4,010,779 1,053,530 5,639,955 811,641 1,703,596 368,385 760,947 9,623,391 805,671 28,338,061 3,503,692 581,462 |
2,287,810 1,028,023 1,064,449 20,100,403 1,924,615 3,901,967 652,433 1,666,677 3,447,667 3,040,741 662,693 685,693 15,797,279 5,865,932 3,093,004 2,556,368 2,625,929 2,515,010 1,036,442 4,716,487 7,494,638 10,847,852 3,911,846 1,012,679 5,181,397 784,291 1,636,387 365,899 663,649 8,855,507 792,097 26,946,431 3,358,545 591,704 |
2,247,438 853,869 1,075,003 17,781,044 1,800,684 3,656,371 603,774 1,465,478 3,068,460 2,670,363 653,243 669,047 15,291,223 5,542,162 3,057,144 2,372,300 2,389,652 2,307,898 924,022 4,528,162 6,882,364 10,414,660 3,608,219 954,077 4,889,219 772,597 1,648,425 277,413 657,231 8,256,719 696,934 25,421,567 3,150,874 617,192 |
1,836,199 747,769 948,913 15,558,376 1,609,065 3,219,023 545,893 1,413,048 2,594,907 2,308,074 583,616 530,309 13,469,090 4,816,972 2,387,396 2,075,564 2,116,609 2,079,747 847,446 3,317,212 6,309,165 9,204,619 3,429,054 820,156 4,346,393 694.052 1,474,351 257,323 578,200 7,307,069 620,901 22,977,615 2,759,007 549,467 |
1,634,742 |
|
- |
||||||||||
. |
642,640 |
|||||||||
Ark |
||||||||||
r 1 'f |
||||||||||
1,454,309 |
||||||||||
n 1 |
||||||||||
m t 'ot of rolumbia |
||||||||||
2 |
2,263,498 |
|||||||||
2,064,459 |
||||||||||
Hawaii |
||||||||||
2,735,521 |
||||||||||
K t k |
||||||||||
M ■ |
||||||||||
3,381,243 |
||||||||||
U' hf |
7,760,425 |
|||||||||
Minnesota |
||||||||||
4,152,012 |
||||||||||
6,453,503 |
||||||||||
New Mexico |
||||||||||
end of table.
INDIVIDUAL INCOME TAX RETURNS, 1949-1958
79
Table 22.— NIIMBER OF RETURNS, ADJUSTED GROSS INCOME, AND INCOME TAX, BY STATES AND TERRITORIES— Cone
and Territorii
ADJUSTED CffiOSS INCOME^— Continued
Ohio
Oklahoma
Oregon
Pennsylvania
Puerto Rico and Virgin Islands
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington^
West Virginia
Wyoming
Other areas*
United states'
INCCME TAX AFTER CREDITS
Alabama
Alaska
Ar i zona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida''
Illinois
Indiana
Kansas
Kentucky
Maine
Maryland-'
Massachusetts
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York'
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Puerto Rico and Virgin Islands
Rhode Island
South Carol ina
South Dakota
Tennessee
Utah
Virginia
Washington^
West Virginia
Wisconsin
Wyoming
Other areas'
United States'
310,287 933,377 836,326 967,829
389,818 058,384 789,833 784,554 697,359
281,689 483,167 051,267 985,990 211,208
6,120,661 514,613 434,241
281,251,669
341,908 38,812 194,233 143,410 3,816,218
329,270 719,754 153,451 231,221
437,015 101,791 93,716 2,622,089 825,964
435,864 362,454 351,212 412,281 128,329
685,079
1,124,516
1.007,459
565,036
127,704
781,955 100,269 223,876 76,320 101,790
1,539,359
130,050
4,494,095
405,310
73,364
2,040,652 325,006 343,661
2,367,996
171,729 181,999 80,214 405,425 1,540,539
127,678 47,254 558,767 622,938 237,411
700,507 59,940 45,417
17,389,492 2,871,543 2,584,107
19,513,876
693,770 3,796,296 12,356,351
1,210,617 485,857 4,997,439 4,665,784 2,491,355
6,157,596 543,190 380,569
323,363 38,312 183,156 133,857 3,650,876
308,411 727,089 164,399 213,070 712,895
419,306 101,430 83,035 2,695,317 894,409
382,461 321,627 370,527 427,308 129,248
675,769
1,111,125
1,844,636
550,228
119,481
1,487,159 127,330
4,434,724 416,596 63,730
2,219,449 328,978 291,606
2,480,178
164,769 179,898 63,286 389,588 1,536,437
123,060 46,491 542,757 564,834 279,447
716,869
60,955 49,447
16,919,511 2,762,684 2,748,824
18,814,973
1,357,408 1,953,856 671,758 3,673,637 11,581,769
1,155,318 480,734 4,752,338 4,526,620 2,298,203
5,916,479 493,013 221,342
267,653,322
293,807 32,080 166, 183 133,344 3,373,902
311,905 711,347 161,748 207,224 644,329
385,097 92,403 89,123 2,611,643 851,909
350,576 303,256 326,503 388,475 122,745
646,807
1,053,170
1,839,256
526,262
119,728
746,046 97,412
191,471 69,245 90,742
1,411,688 106,494
4,232,431 381,101 60., 074
2,149,144 300,680 332,267
2,373,040
166,319 175,210 59,847 377,869 1,404,530
116,232 48,531 520,952 544,624 243,830
686,386 58,905 17,169
15,917,578 2,572,734 2,501,058
17,358,034 58,333
1,305,004 1,838,845 645,905 3,295,848 10,696,062
1,041,548 406,288 4,384,985 4,202,739 2,055,O?2
5,480,112
248,779,023
265,376 32,282 140,561 114,137 3,203,108
261,289 629,646 155,364 211,851 521,484
354,661
84,356
69,637
2,189,678
774,859
327,874 295,560 299,348 337,321 99,482
563,566
1,023,410
1,687,906
479,228
101,591
707,178 93,183
178,280 62,559 83,282
1,265,901 96,338
3,947,023 351,336 51,462
1,978,564 269,320 285,104
2,080,488 994
165,508 159,573 53,270 325,301 1,284,540
100,444 40,617 460,397 501,047 205,292
622,459 49,734 11,191
13,985,208 2,440,907 2,427,856
16,167,247 54,759
1,145,238 1,697,197 653,976 3,115,501 10,243,638
916,952
395,251
4,040,840
4,263,326
1,909,633
122,154
112,351
2,712,536
242,683 579,527 122,882 198,493 441,261
324,799 285,953 279,260 301,572
94,161
511,408 861,447 1,523,997 428,629 93,956
636,757 89,707
176,026 55,585 74,769
3,643,412 304,673 45,446
1,670,881 257,366 270,500
1,871,750 1,230
133,240 140,929 55,392 297,279 1,208,671
83,989 33,979 415,799 500,075 184,974
34,350,979 34,382,205 32,706,061 29,653,960 26,707,201 29,447,266 27,889,716 24,268,092 18,389,534
14,793,481 2,426,682 2,290,259
16,851,700
1,213,827 1,738,783 631,981 3,121,764 9,636,925
930,959
381,610
3,889,100
4,140,917
2,063,685
123,797
109,740
2,836,356
257,037 621,055 128,749 219,126 450,395
322,706 82, 129 68,342 2,343,043 792,854
358, 389 307,052 305,518 321,701 110,151
595,562
1,014,510
1,772,474
472,187
97, 173
734,844 94,791
194,096 49,767 87,626
1,275,118
91,501
3,851,980
330,854
53,685
2,024,999 276,194 290,606
2,185,934
154,676 161,242 59,375 332,233 1,223,160
99,119 38,227 443,127 541,342 209,892
13,298,984 2,259,852 2,316,087
15,877,555
909,692
387,605
3,721,293
3,963,940
2,065,157
128,813
100,262
2,761,782
250,542 593,247 124,124 249,113 408,481
340,067
30,683
77,978
2,215,931
710,958
331,511 306,250 285,662 310,305 110,076
596,218 980,446 1,470,551 457,051 97,146
681,645 90, 524
183,130 52,654 72,411
1,166,757
94,464
3,656,252
327,289
53,426
1,794,080 267,793 302, 123
2,055,379
152,007 177,746 56,670 300,640 1,222,734
92,647 37,008 427,054 530,356 219,542
12,579,855 2,209,293 2,228,677
15,140,296
1,130,209 1,500,042 626,089 2,690,510 8,793,470
847,179
384,539
3,271,159
3,789,088
1,837,849
97,987
95,093
2,320,749
209,202 499,452 113,465 205,066 347,360
270,254
72,761
64,198
2,000,619
628,066
304,518 248,399 232,064 254,235
86,170
512,850 830,396 1,287,949 378,824 86,585
581,951 84,505
177,406 39,455 66,059
998,208
77,542
3,315,250
288,634 56,000
1,550,625 230,307 273,303
1,797,449
75,732 34,330 346,541 472,971 163,267
10,711,935 1,925,065 2,004,8
13,420,151
1,055,155 1,306,858 557,368 2,376,817 7,874,215
712,171
352,663
2,927,108
3,254,719
1,727,911
74,810
74,320
1,739,734
160,012 379,930 110,057 170,054 254,167
247,277 191,037 178,429 201,705 65,225
367,626 650,438 968,137 299,539 66,753
438,202 63,894
135,422 32,262 49,153
742,887
57,740
2,626,329
218,691
41,173
1,037,976 180,553 205,952
1,344,389
109,031 101,903 40,509 210,346 882, 519
53,033 26,871 253,349
335,349 132,030
^Excludes returns with no adjusted gross income, 1949-54, and for 1955-56 and 1958 returns with no informatii
^Includes returns from Panama Canal Zone, 1949-55.
^For 1949-51, includes all returns from Puerto Rico and Virgin Islands and for 1952 part of such returns.
* Includes part of the returns from Puerto Rico and Virgin Islands for 1952 and all such returns for 1953.
'For 1949-54, includes returns from Alaska.
'For 1955, returns with foreign addresses except those with Canadian and Mexican addresses filed in States co Puerto Rico who are also citizens of the United States, nonresident aliens residing in Puerto Rico, citizens o and citizens abroad.
'includes Territories of Alaska and Hawaii and other areas listed in footnote 6.
^Adj'usted gross income less adj'usted gross deficit, 1955-58.
Synopsis of Laws
SYNOPSIS OF LAWS
Page
Table A — Requirement for filing individual income tax returns, exemption allowances, and mininrom and maximum tax rates, 19-49-58 83
Table B. — Requirement for filing the self -employment tax schedule
and self-employment tax rates, 1951-58 83
82
SYNOPSIS OF LAWS
83
Table A. —REQUIREMENT FOR FILING INDIVIDUAL INCOME TAX RETURNS, EXEMPTION ALLOWANCES, AND MINIMUM
AND MAXIMUM TAX RATES, 1949-58
Items |
1958 |
1957 |
1956 |
1955 |
195'i |
1953 |
1952 |
1951 |
1950 |
19-^9 |
(Dollars) |
||||||||||
V / |
||||||||||
600 |
||||||||||
Additional exemptions for age 65 or older and for blindness^ |
600 |
|||||||||
(Percent) |
||||||||||
20.^ 91.0 87.2 |
17.4 80.0 |
|||||||||
20.0 91.0 |
22.2 92.0 |
16.6 82.1 77.0 |
||||||||
■ |
^For 1954-58, persons 65 years of age or over, gross income $1,200. Gross income for 1958 includes earned income from sources without the United States, even though tax-exempt.
^Additional exemptions allowed only for taxpayer and, if joint return was filed, his wife.
^Income tax before credits need not exceed the indicated percentages of net income for 1949-53, nor of taxable income for 1954-58.
Table B. —REQUIREMENT FOR FILING THE SELF -EMPLOYMENT TAX SCHEDULE AND SELF -EMPLOYMENT
TAX RATES, 1951-58
Items |
1958 |
1957 |
1956 |
1955 |
1954 |
1953 |
1952 |
1951 |
(Dollars) |
||||||||
V ; |
||||||||
Self-employment net earnings requirement for filing return Maximum self-employment income subject to self -employment tax... |
400 4,200 |
400 3,600 |
||||||
(-Percent; |
||||||||
X, J |
||||||||
3 |
0 l// |
|||||||
Facsimiles of
Individual Income
Tax Returns,
1958
RETURN FORMS
Page
Form 1040: Individual Income Tax Return 1958 87
Schedule C, Profit (or Loss) From Business or Profes- sion 107
Schedule D, Gains and Losses From Sales or Exchanges
of Property Ill
Schedule F, Farm Income and Expenses 113
Form lO^OA: Individual Income Tax Return 1958 119
86
FACSIMILES OF TAX RETURNS, 1958
87
U. S. INDiVIDOAL INCOME TAX RETURN-1958
or Other Taxable Year Beginning --, 1958. Ending ,
(PLEASE TYPE OR PRINT)
Name .
Home address .
(If this is a joint return of husband and wife, use hrst names and middle initials of both)
(Number and street or rural route)
(City, town, or post office)
(Postal zone number)
Your Social Security Number
Wife's Social Security Number
If Income Was All From Salaries and Wages, Use Pages 1 and 2 Only. See Page 3 of the Instructions.
Check blocks which apply. f(a) Regular $600 exemption D Yourself □ Wifel Enter
Check for wife if she had no ) (y Additional J600 exemption if 65 or over at end of taxable year . D Yourself D Wife } «emptlon*s income or tier income is 1 [ checked
included in this return. i(c) Additional $600 exemption if blind at end of taxable year. ... D Yourself D WifeJ >.
List first names of your children who Enter number
qualify as dependents,- give ' "' <>♦ children
address if different from yours. - lilted ^
Enter number of exemptions claimed For other persons listed at top of page 2
Enter tfie total number of exemptions claimed on lines 1 , 2, and 3
Enter all wages, salaries, bonuses, commissions, tips, and other compensation before payroll deductions (Including any excess of expense account or similar allowance paid by your employer over your ordinary and necessary business expenses. See instructions, pp. 5-6.)
Employer's Name
Where Employed (City and State)
5^ = C/) |
6. |
i |
7 |
Oi |
|
() |
8 |
u_ |
9 |
o |
10. |
00 |
11. |
Enter totals here -
Less: Excludable "Sick Pay" in line 5 (See instructions, page 7. Attach required statement). . .
Balance (line 5 less line 6)
Profit (or loss) from business from separate Schedule C 4
Profit (or loss) from farming from separate Schedule F 4
Other income (or loss) from page 3 (dividends, interest, rents, pensions, etc.). . ADJUSTED GROSS INCOME (sum of lines 7, 8,9, and 10) »
(b) Income Tax Withheld
If either you or your wife had more than one employer and the social security tax (PICA) withheld from wages exceeded $94.50, see Instruc- tions, page 5.
Unmarried or legally separated persons qualifying as "Heed | — , Widows and widowers with dependent child who are entitled to the . — . of Household," see instructions, page 7, and check here I I special tax computation, see Instructions, page 8, and check here I I
12.
Tax on income on line 11. (If line 1 1 is under $5,000, and you do not itemize deductions, use Tax Table on page 1 6 of instructions to find your tax and check here D- If line 1 1 is $5,000 or more, or if you itemize deductions, compute your tax on page 2 and enter here the amount from line 9, page 2).
1 3. (a) Dividends received credit from line 5 of Schedule J $
(b) Retirement income credit from line 12 of Schedule K. . . . |
14. Balance (line 12 less line 13)
was all
from wages, < omit lines 13 through 16
1 5. Enter your self-employment tax from separate Schedule C or F. V 1 6. Sum of lines 1 4 and 15
(a) Tax withheld (line 5 above). Attach Forms W-2, Copy B 13
(b) Payments and credits on 1958 Declaration of Estimated Tax (m^tructlons!) •!_
District Director's office where paid - -
If your tax (line 12 or 16) is larger than your payments (line 17), enter the balance due here— —
Pay in tuii with this return to "Interna! Revenue Service." IS icss than $1.00, file return without payment.
if your payments (line 1 7) ore larger than your tax (line 1 2 or 1 6), enter the overpayment here
Sf less than Sl.aO, the overpayment will be refunded only fj:pon application.
Amount of line 19 to be: (a) Credited on 1959 estimated tax $_ ,- (b) Refunded $_..
cticrge
If *'Yo5,*' did you subn County in wliich you In
itemized accounting of e?:penses I
panali'tpi of perjury (t^ot this relu ■ue, correct, and ccmplele return, equired to be reported in the retur
xpenses lo your employer? D Yes D No /See p,ioe nployer? n Yes D No Vinsiruciic
ony Fsditol before 19=8? G No
vhich .he hcs any Un
the tc^xpayer, his decia
BOTH HUSBAND AND WIFE MUST SIGItll
(Signature of prepo
(Date)
o70 — 16—71557-1
8 FACSIMILES OF TAX RETURNS, 1958
Form 1040-1958 EXEMPTIONS FOR PERSONS OTHER THAN YOUR WIFE AND CH3LDPvEN
Pa9e2
Name |
Relationship |
Months lived in your home. If born or died during year also write "B" or "D" |
Did dependent have gross income ol $600 or more? |
Amount YOU fur- nished lor dependent's support. II 100% write "All" |
Amount *uinished by OIHtRS including dependent |
$ |
$ |
||||
Enter on line 3, pase 1, the number of exemptions claimed above. -> If an exemption is based on a multiple-support agreement of a group of persons, attach information described on page 5 of instructions. |
|||||
ITEMIZED DEDUCTIONS— IF YOU DO NOT USE TAX TABLE OR STANDARD DEDUCTION It Husband and Wife (Not Legaliy Separated) File Separate Returns and One Itemizes Deductions, the Other Must Also EtemSze Stale to whom paid. It necessary write more than one item on a line or attach addilional sheets. Please put your name and address on any attachments. |
Contributions
Interest
Taxes
Medical and dental expense
(if 65 or over, see Instructions, page 10)
Other Deductions
(See page 10 of Instructions and attach informa- tlon required)
Total paid but not to exceed 20% of line 11, page 1, except as described on page 8 of instructions.
Total interest
Total taxes
Submit itemized list. Do not enter any expense compensated by Insurance or otherwise
1 . Cost of medicines and drugs IN EXCESS of 1 percent of line 1 1 , page 1
2. Other medical and dental expenses
3. Total
4. Enter 3 percent of line 1 1 , page 1
5. Allowable amount (excess of line 3 over line 4). (See instructions, page 1 0, for limitations.)
Total
TOTAL DEDUCTIONS (Enter here and on line 2 of Tax Computation, below).
TAX COMPUTATION— IF YOU DO NOT USE THE TAX TABLE
1 . Enter Adjusted Gross Income from line 1 1 , page 1 ,
2. If deductions are itemized above, enter total of such deductions. If deductions are not itemized one/ //ne 1, above, is $5,000 or more: (a) a married person filing a separate return enter $500;
(b) all others enter 1 0 percent of line 1 , or $1 ,0(X), whichever is smaller ,
3. Balance (line 1 less line 2)
4. Multiply $600 by total number of exemptions claimed on line 4, page 1
5. TAXABLE INCOME (line 3 less line 4)
6. Tax on amount on line 5. Use appropriate tax rate schedule on page 1 5 of instructions. Do not use Tax Table on page 16
7. If you had capital gains and the alfemative tax applies, enter the tax from separate Schedule D .
8. Tax credits. If you itemized deductions, enter:
(a) Credit for income tax paymsnts to a foreign country or U. S. possession (Attach Form 1116). .
(b) Tax paid at source on tax-free covenant bond interest and credit for partially tax-exempt interest.
(c) Total.
9. Enter here and on line 1 2, page 1 , the amount shown on line 6 or 7 less amount claimed on line 8(c). .
70 — 10—74557-1
FACSIMILES OF TAX RETURNS, 1958 89
Form 1040—1958 Page 3
IF INCOME WAS ALL FROM SALARIES AND WAGES. TEAR OFF THIS PAGE AND FILE ONLY PAGES 1 AND 2
Schedule A. INCOME FROM DIVIDENDS (income from savings (Building) and Loan Associations and Credit Unions should be entered as interest in Schedule B)
1. Name oF qualifying corporation declaring dividend (See instructions, page 11):
(Indicate by (H), (W), (J) whettier stock is held by husband, wife, or jointly)
2. Total
3. Exclusion of $50 (If both husband and wife received dividends, each is entitled to exclude not more than $50 of his (her) own dividends)
4. Excess, if any, of line 2 over line 3. Enler here and on line 1, Schedule J
5. Name of nonqualifying corporation declaring dividend:
6. Enter total of lines 4 and 5 .
Schedule B.— INCOME FROM INTEREST
Nsme of payer
Enter total here-^
Schedule D Summary.— GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY
1. From sole or exchange of capital assets (from separate Schedule D)
2. From sale or exchange of property other than capital assets (from separate Schedule D)
Schedule E.— INCOME FROM PENSIONS AND ANNUITIES (See instructions, page 12)
Part I.— Genera! Rule
1 . Investment in contract
2. Expected return
3. Percentage of income to be excluded (line 1 divided by line ?)
%
4. Amount received this year
5. Amount excludable (line 4 multiplied by line 3)
6. Taxable portion (excess of line 4 over line 5).
-Where your cost wiil be recovered within three years and your employer has contributed part of the coat
1 . Cost of annuity (amounts you paid) .
2. Cost received tax-free in past years .
3. Remainder of cost (line 1 less line 2).
$ --
4. Amount received this year.
5. Taxable portion (excess, if any, of line 4 over line 3).
Schedule G.— INCOME FROM RENTS AND ROYALTIES
I. Kind and location of property
3. Depreciation (explain inSch. I) or depletion
1 . Totals [$
2. Net income (or loss) from rents and royalties (column 2 less sum of columns 3, 4, and 5). Schedule H.— OTHER INCOME
1 . Partnerships (name and address)
2. Estates or trusts (name and address) .
3. Other sources (state nature) -..
Total income (or loss) From above sources (Enter here and on line 10, page 1).
o70 — 10 — 74557-1
90 FACSIMILES OF TAX RETURNS, 1958
Form 1C40— 1958 Page 4
IF INCOME WAS ALL FROM SALARIES AND WAGES, TEAR OFF THIS PAGE AND FILE ONLY PAGES 1 AND 2
Schedule 1.— EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED IN SCHEDULE G |
||||||
1. Kind of property (i( buildings, slate material of wtiich constructed). Exclude land and other nondepreciable property |
2. Date acquired |
3. Cost or other basis |
4. Depreciation allowed (or allowable) in prior years |
5. f^lethod of computing depreciation |
6. Rate (%) or life (years) |
7. Depreciation for this year |
Schedule J.— DIVIDENDS RECEIVED CREDIT (See instructions, page 14) |
1 . Amount of dividends on line 4, Schedule A
2. Tentative credit (4 percent oF line 1)
LIMITATION ON CREDIT
3. Tax shown on line 1 2, page 1 , plus amount, if any, shown on line 8(b), page 2 ,
4. 4 percent of taxable income ,
Taxable (a) If tax is computed on page 2, the amount shown on line 5, page 2.
Income j (b) IF Tax Table is used, the amount shown on line 11, page 1, less 10 percent thereof, and less the iVieans deduction for exemptions ($600 multiplied by the number of exemptions claimed on line 4, page 1).
5. Dividends received credit. Enter here and on line 1 3(a), page 1 , the smallest of the amounts on line 2, 3, or 4, above
Schedule K.— RETIREMENT INCOME CREDIT (See instructions, page 14)
This credit does not apply; 1. If you received pensions or annuities of $1,200 or more from Social Security or Railroad Retirement;
2. if you are under €5 years of age and had "earned income" of $2,100 or more; OR
3. If you are 65 or over and under 72, and had "earned income*' of $2,409 or more^
If separate return, use column B only. If joint return, use column A for wife and column B for husband >■
Did you receive earned income in excess of $600 in each of any 1 0 calendar years before the taxable year 1958? Widow or widowers see instructions, page 14
If answer above is "Yes" in either column, furnish all information below in that column.
1 . Retirement income for taxable year which is included in line 11 , page 1 , of this return:
(a) For taxpayers under 65 years of age:
Enter only income received from pensions and annuities under public retirement systems
(b) For taxpayers 65 years of age or older:
Enter total of pensions and annuities, interest, gross rents, and dividends
LIMITATION ON RETIREMENT INCOME
2. Maximum amount of retirement income for credit computation
3. Deduct:
(a) Amounts received in taxable year as pensions or annuities under the Social Security Act, the Railroad Retirement Acts, and certain other exclusions from gross income . .
(b) Earned income received in taxable year:
(This line does not apply to persons 72 years of age or over)
(1) Taxpayers under 65 years of age, enter amount in excess of $900
(2) Taxpayers 65 or over and under 72, enter amount in excess of $1 ,200
4. Total of lines 3(a) and 3(b)
5. Balance (line 2 minus line 4)
6. Line 5 or line 1 , whichever is smaller -.
DYes DNo
n Yes n No
1,200
00
1,200
00
7. Tentative credit (20 percent of line 6).
8. Total tentative credit on this return (total of amounts on line 7, columns A and B).
LIMITATION ON RETIREMENT INCOME CREDIT
9. Amount of tax shown on line 1 2, page 1
10. Less: Dividends received credit from line 5, Schedule J, above
11. Balance (line 9 less line 10)
1 2. Retirement income credit. Enter here and on line 1 3(b), page 1 , the amount on line 8 or line 1 1 , whichever is smaller
070— 16— 74557-1
FACSIMILES OF TAX RETURNS. 1958
91
Helpful Information on
HOW TO PREPARE YOUR
Income Tax Return on Form 1040
for 1958
Instructions — Form 1040 (1958)
You can save money for yourself and your Government, if you —
File your return early— Make sure the figures are right
The final date for filing your return is April 15, but tax- payers who wait until the last minute often make costly mistakes.
You should be able to prepare your return with the assist- ance of the information contained in this pamphlet. The instructions are arranged in the same order as the lines and pages of Form 1040. If you need help from the Internal Revenue Service, you can ask questions by phone of our nearest office or come in for other assistance.
Commissioner of Internal Revenue
566335 O - 60 - 7
92
FACSIMILES OF TAX RETURNS, 1958
2
Page Accounting methods and records . 7
Annuities 12
Business or professional income
(Schedule C) .'. 7
Casualty losses and thefts 10
Child care (Form 2441 ) 10
Computation of tax 3, 15
Contributions 8
Credits against tax 5, 8, 15
Declaration of estimated tax. ... 14
Dependents 4
Depreciation 13
Dividends ^11
Dividends received credit 14
Education expenses 10
Employee business expenses 6
Estates and trusts 13
WHO MUST FILE A TAX RETURN
Every citizen or resident of the United States — whether an adult or minor — who had $600 or more gross income in 1958 must file; if 65 or over, $1,200 or more. To determine whether you must file, include earned income from sources without the United States, even though not taxable (see page 5) . A person with income of less than these amounts should file a return to get a refund if tax was withheld. A married person with income less than her (his) own personal exemp- tion (s) should file a joint return with husband or wife to get the smaller tax or larger refund for the couple. For self- employment tax filing requirements, see page 8 of these instructions.
MEMBERS OF ARMED FORCES
Members of Armed Forces should give name, service serial number, and per- manent home address.
WHEN AND WHERE TO FILE
Please file as early as possible. You must file not later than April 15. Mail your return to the "District Director of Internal Revenue" for the district in which you live. U. S. citizens abroad who have no legal residence or place of business in the United States should file with Director of International Opera- tions, Internal Revenue Service, Wash-
CONTENTS
Page
Exemptions 4
Farm income (Schedule F).... 7
Head of household 7
Interest 9, 1 1
Joint return 4
Married persons 4
Medical and dental expenses. ... 9
Miscellaneous expenses 10
Net operating loss 7
Other income 13
Outside salesmen 6
Partnerships 13
Payment of tax 2,8
Pensions 12
Refunds 8
Regulated investment companies (Form 2439) .^ 6
GENERAL INSTRUCTIONS
ington 25, D. C. A list of the District Directors' offices is set out below.
WHERE TO GET FORMS
As far as practical, the forms are mailed directly to taxpayers. Additional forms may be obtained from any Inter- nal Revenue Service office, and also at most banks and post offices.
HOW TO PAY
The balance of tax shown to be due on line 18, page 1, of your return on Form 1040 must be paid in full with your return if it amounts to $1.00 or more. Checks or money orders should be made payable to "Internal Revenue Service."
SIGNATURE AND VERIFICATION
You have not filed a valid return un- less you sign it. Husband and wife both must sign a joint return.
Any person (s), firm, or corporation who prepares a taxpayer's return also must sign. If the return is prepared by a firm or corporation, the return should be signed in the name of the firm or corporation. This verification is not required if the return is prepared by a regular, full-time employee of ihe tax- payer such as a clerk, secretary, book- keeper, etc.
LOCATIONS OF DISTRICT DIRECTORS'
Following Is a list of Ih* DislricI Directors' offlct If there it more than one District Director's office your Stole and you ore not sure which one to us consult your local pott office.
ALABAMA — Birmingham 3, Ala.
ALASKA — Tacomo 2, Wash.
ARIZONA — Phoenix, Ariz.
ARKANSAS— Little Rock, Ark.
CALIFORNIA— Los Angeles 12, Colif.; San Francisco
Calif. COLORADO — Denver 2, Colo. CONNECTICUT— Hartford, Conn. DELAWARE— Wilmington 99, Del. DISTRICT OF COLUMBIA— Baltimore 2, Md. FLORIDA— Jacksonville, Fla. GEORGIA — Atlanta 3, Go. HAWAII— Honolulu 13, T. H. IDAHO — Boise, Idaho.
ILLINOIS — Chicago 2, III.; Springfield, III. INDIANA — Indianapolis, Ind. IOWA— Det Moines 8, Iowa. KANSAS— Wichita 21 , Kont.
KENTUCKY— Louisville 2, Ky.
LOUISIANA— New Orleans, La.
MAINE — Augusta, Moine.
MARYLAND — Baltimore 2, Md.
MASSACHUSETTS — Boston IS, Most.
MICHIGAN — Detroit 31, Mich.
MINNESOTA— St. Paul 1, Minn.
MISSISSIPPI— Jockson S, Miss.
MISSOURI — St. Louis 1, Mo.; Kansas City 6, Mo.
MONTANA— Helena, Mont.
NEBRASKA — Omaha 2, Nebr.
NEVADA— Reno, Nev.
NEW HAMPSHIRE — Portsmouth, N. H.
NEW JERSEY— Industrial Office BIdg., Newark 2, N. J.;
7th and Cooper Streets, Camden, N. J. NEW MEXICO — Albuquerque, N. Mex. NEW YORK— Brooklyn 1, N. Y.; 24S West Houston
Street, New York 14, N. Y.; 484 Lexington Avenue,
New York 17, N. Y.; Albany 10, N. Y.; Syracuse 1,
N. Y.; Buffalo 2, N. Y. NORTH CAROLINA— Greensboro, N. C. NORTH DAKOTA— Fargo, N. Dak. OHIO — Cleveland 15, Ohio; Columbus 15, Ohio; Toledo
1, Ohio; Cincinnati 2, Ohio.
Page
Reimbursed expenses 6
Rents and royalties 12
Retirement income credit. ..;... 14 Sale or exchange of property
(Schedule D) 11
Sale of personal residence 11
Self-employment tax (Sch. SE). 8
Sick pay exclusion (Form 2440) . 7 Social security (F. I. C. A.) tax
credit 5
Tax deductions 9
Tax rate schedules 15
Tax Table 16
Travel expenses 6
Wages and salaries 5
When and where to file returns. . 2
Widows and widowers 8
YOUR RIGHTS OF APPEAL
If you believe there is an error in any bill, statement, or refund in connection with your tax, you are entitled to have the matter reconsidered by the office of the District Director. You will be given an opportunity to discuss any change in your tax which is proposed, and you will be advised of further appeal rights if you cannot reach an agreement. Upon request by the District Director you must be able to support all deductions claimed by you. OTHER PUBLICATIONS
Copies of the following Internal Rev- enue Service Publications may be ob- tained from your District Director: *Your Federal Income Tax .
(I. R. S. Pub. No. 17) . . . Price 35j^ *Tax Guide for Small Business
(I. R. S. Pub. No. 334) . . Price 35/ Employer's Tax Guide, Circular E
(I. R. S. Pub. No, 15) Free
Farmers' Tax Guide
(I.R. S. Pub. No. 225) Free
Tax Guide for U. S. Citizens Abroad
(I. R. S. Pub. No. 54) Free
Casualties, Thefts, Condemnations
(I. R. S. Pub. No. 155) Free
*Also available from the Superintend- ent of Documents, Government Print- ing Office, Washington 25, D. C.
OFFICES
OKLAHOMA — Oklahoma City, Okla.
OREGON — Portland 12, Greg.
PANAMA CANAL ZONE — Director of International Oper- ations, Internal Revenue Service, Washington 25, D. C.
PENNSYLVANIA— Philadelphia 7, Pa.; Scranton 14, Pa.; Post Office and Courthouse Building, Pittsburgh 30, Pa.
PUERTO RICO— Sonturce Building, Sanlurce, P. R.
RHODE ISLAND — Providence 2, R. I.
SOUTH CAROLINA— Columbia, S. C.
SOUTH DAKOTA— Aberdeen, S. Dak.
TENNESSEE — Nashville 3, Tenn.
TEXAS — Austin 14, Tex.; Dallas 1, Tex.
UTAH— Salt lake City, Utah.
VERMONT— Burlington, Vt.
VIRGINIA— Richmond, Va.
VIRGIN ISLANDS — Charlotte Amolle, SI. Thomal, V. I.
WASHINGTON— Tacoma 2, Wash.
WEST VIRGINIA — Parkersburg, W. Va.
WISCONSIN — Milwaukee 2, Wis.
WYOMING — Cheyenne, Wyo.
FOREIGN ADDRESSES — Taxpayers with legal residence In Foreign Countries — Director of International Opera- tions, Internal Revenue Service, Washington 25, D. C.
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FACSIMILES OF TAX RETURNS, 1958
93 3
WAGE EARNERS-NEW FORM FOR INCOME UNDER $10,000
This year the simplified card form (Form 1040 A) has been extended to many more taxpayers, able to use it (instead of Form 1040) IF:
You may be
1. Your gross income was lesslhan $10,000, AND
2. It consisted of wages reported on withholding statements (Forms W-2) and not more than $200 total of other wages, interest, and
dividends, AND
3. You wish to take the standard deduction (about 10% of your income) instead of itemizing deductions.
Form 1040A and its special instruction sheet provide further information about its use. One of the special features is that if your income is less than $5,000, you can choose to have the Internal Revenue Service figure your tax for you. You can obtain these forms from any Internal Revenue Service office and from most banks and post offices.
HOW TO USE FORM 1040
Form 1040 is designed to meet the needs of all persons who do not use card Form 1040A described above. Most tax- payers who use Form 1040 will find it necessary to use only a part of the form. Therefore, it is so arranged that pages 3 and 4 may be discarded if not needed.
• If your income was less than $5,000 and all from salaries and wages, you may need page 1 only.
• If your income was all from salaries and wages, you need only the first two pages of Form 1040.
• Income from farming or other business, which is figured on a separate schedule, is to be reported on page 1. All other income is to be reported on page 3.
• Page 2 contains a schedule for claiming exemptions for persons other than your wife and children, for itemizing your nonbusiness deductions, and for figuring your tax.
• Page 4 contains the schedules for computing the credits for dividends received and retirement income.
HOW TO FILL IN FORM 1040
Filling in the form involves FOUR STEPS:
STEP 1
Claiming Your
Exemptions
List on page 1 exemptions for yourself (and for your wife, if you are filing a joint return or if she had no income) and for your children. List exemptions for dependents other than your children in the schedule at the top of page 2.
DETAILED INSTRUCTIONS, PAGE 4 OF THIS PAMPHLET.
STEP 2 Reporting Your
Enter income from salaries and wages on page 1 ; also, income from farming and other business income, the details of which will be shown in separate Schedules F and C. All other income is to be reported on page 3. If you are an employee, see pages 6 and 7 of these instructions for infor- mation relating to the treatment of sick pay and special deductions for travel expenses, reimbursed expenses, etc.
DETAILED INSTRUCTIONS, PAGES 5, 6, AND 7 OF THIS PAMPHLET.
STEP 3
Claiming Your
Deductions
The law allows you to reduce your income by certain contributions to charity, expenditures for interest, taxes, extraordinary medical and dental expenses, child care, certain losses, and miscellaneous items, provided you itemize them on your return. Since there are restrictions on these deductions, refer to pages 8, 9, 10, and 1 1 of this pamphlet for details.
The law also provides a "standard deduction" for persons who do not wish to Hst their deductions. The Tax Table on page 16 automatically allows a standard deduction for persons having income of less than $5,000. The standard deduction for those with income of $5,000 or more is 10 percent of the income on line 11, page 1 of the form, but not to exceed $1,000 ($500 for a married person filing a separate return). It will be wise to compare the total of your itemized deductions with the standard deduction to see which method is better.
DETAILED INSTRUCTIONS, PAGES 8, 9, 10, AND 11 OF THIS PAMPHLET.
STEP 4
Figuring Your
Tax
If you do not itemize deductions and if your income on line 11, page 1 of the form, is less than $5,000, you must use the Tax Table on page 16. If you itemize your deductions or if your income is $5,000 or more, you must use the tax computation schedule on page 2 of the form and the tax rate schedules on page 15 of this pamphlet. See page 7 if you are unmarried or legally separated, main- tain a home, and have a dependent living with you. Also see page 8 if you are a widow or widower and have a dependent child.
DETAILED INSTRUCTIONS, PAGE 15 OF THIS PAMPHLET.
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FACSIMILES OF TAX RETURNS, 1958 INSTRUCTIONS FOR PAGE 1 OF FORM 1040
MARRIED PERSONS— JOINT OR SEPARATE RETURNS
Advantages of a Joint Return. — In most
cases it is advantageous for married couples to file joint returns. The law provides "split income" benefits in fig- uring the tax on a joint return which often results in a lower tax than would result from separate returns.
How To Prepare a Joint Return. — In a
joint return you must include all income and deductions of both husband and wife. In the return heading, list both names including middle initials (for example : "John F. and Mary L. Doe") . Both must sign the return.
A husband and wife may file a joint return even though one of them had no income. A joint return may not be filed if either husband or wife was a
nonresident alien at any time during the taxable year.
When a joint return is filed, the cou- ple assume full legal responsibility for the entire tax, and if one fails to pay, the other must pay it.
How To Prepare a Separate Return. — In a
separate return each must report his or her separate income and deductions and fill in a separate form. The "split income" provisions of the Federal tax law do not apply to separate returns of husband and wife. When filing sep- arate returns, the husband and wife should each claim the allowable deduc- tions paid with his or her own funds. (In community property States, deduc-
tions resulting from payments made out of funds belonging jointly to husband and wife may be divided half and half.) If one itemizes and claims actual deduc- tions, then both must do so.
Changes in Marital Status. — If mar- ried at the end of your taxable year, you are considered married for the en- tire year. If divorced or legally sep- arated on or before the end of your year, you are considered single for the entire year. If your wife or husband died during the year, you are considered married for the entire year, and may file a joint return. You may also be entitled to the benefits of a joint return for the two years following the death of your husband or wife. See page 8.
HOW TO CLAIM YOUR EXEMPTIONS
You Are Allowed a Deduction of $600 for Each Exemption for Which You Qualify as Explained Below
LINE 1— EXEn/IPTIONS FOR YOU AND WIFE
For You. — You, as the taxpayer, are al- ways entitled to at least one exemption. If, at the end of your taxable year, you were blind or were 65 or over, you get two exemptions. If you were both blind and 65 or over, you get three e>:emptions. Be sure to check the appropriate blocks.
For Your Wife. — An exemption is al- lowed for your wife (or husband) if you and she are filing a joint return. If you file a separate return, you may claim her exemptions only if she had no income and did not receive more than half her support from another taxpayer. Otherwise, your wife's exemptions are like your own — one, if she was neither blind nor 65 or over; two, if she was either blind or 65 or over; three, if she was both blind and 65 or over.
In Case of Death. — If your wife or hus- band died during 1958, the number of her or his exemptions is determined as of the date of death.
Proof of Blindness.— If totally blind, a statement of such fact must be at- tached to the return. If partially blind, attach a statement from a qualified phy- sician or a registered optometrist that ( 1 ) central visual acuity did not exceed 20/200 in the better eye with correcting lenses, or (2) that the widest diameter of the visual field subtends an angle no greater than 20°.
LINE 2— EXEMPTIONS FOR YOUR CHILDREN
You are entitled to one exemption for each child (including a stepchild, or legally adopted child), if during the taxable year, that child :
1. Income.— Received less than $600 gross income (unless the child was un- der 19 or was a student, in which case this limitation does not apply), and
2. Support. — Received more than half of his or her support from you (or from husband or wife if a joint return is filed ) , (see definition below of support), and
3. Married Children. — Did not file a
joint return with her husband (or his wife), and
4. Nationality. — Was either a citizen or resident of the United States or a resi- dent of Canada, Mexico, the Republic of Panama or the Canal Zone; or was an alien child adopted by and living with a United States citizen abroad.
Definition of Support. — Support in- cludes food, shelter, clothing, medical and dental care, education, and the like. Generally, the amount of an item of support will be the amount of expense incurred by the one furnishing such item. If the item of support furnished by an individual is in the form of prop- erty or lodging, it will be necessary to measure the amount of such item of support in terms of its fair market value. In computing the amount of sup- port include amounts contributed by
the dependent for his own support and also anjounts ordinarily excludable from gross income.
In figuring whether you provide more than half of the support of a student, you may disregard amounts received by him as scholarships.
Definition of Student. — The law de- fines a student as an individual, who during each of 5 calendar months dur- ing the year, is (a) a full-time student at an educational institution or (b) pursuing a full-time course of institu- tional on-farm training under the su- pervision of an accredited agent of an educational institution or of a State, or a political subdivision of a State. •
LINE 3— EXEMPTIONS FOR PERSONS OTHER THAN YOUR CHILDREN
You are entitled to one exemption for each other dependent who meets all the following requirements for the year:
1. Received less tlian $600 gross in- come, and
2. Received more than half of his or her support from you (or from husband or wife if a joint return is filed), (see definition of support on this page) , and
3. Did not file a joint return with her husband (or his wife), and
4. Was either a citizen or resident of the United States or a resident of Canada, Mexico, the Republic of Pan- ama or the Canal Zone, and
5. Either (1) for your entire taxable year had your home as his principal place of abode and was a member of your household; Or (2) was related to
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FACSIMILES OF TAX RETURNS, 1958
95
INSTRUCTIONS FOR PAGE 1 OF FORM 1040— Continued
you (or to husband or wife if a joint return is filed) in one of the following ways:
Mother Stepbrother Son-in-law
Father Stepsister Daughter-in-law
Grandmother Stepmother The following if
Grandfather Stepfather related by blood:
Brother Mother-in-law Uncle
Sister Father-in-law Aunt
Grandson Brother-in-law Nephew Granddaughter Sister-in-law Niece
The information concerning these de- pendents must be shown in the schedule at the top of page 2 of Form 1040.
Birth or Death of Dependent. — You can
claim a full $600 exemption for a de-
pendent who was born or died during the year if the tests for claiming an exemption for such dependent are met for the part of the year during which he was alive.
Exemptions for Individuals Supported by More Than One Taxpayer. — If several per- sons contributed toward the support of an individual during the taxable year, but none contributed over half of the support, they may designate one of their number to claim the exemption if:
(a) They as a group have provided over half of the support of the indi- vidual ; and
(b) Each of them, had he contrib- uted over half of the support, would have been entitled to claim the indi- vidual as a dependent; and
(c) The person claiming the exemp- tion for the individual contributed over 10 percent of the support; and
(d) Each other person in the group who contributed over 10 percent of the individual's support makes a declara- tion that he will not claim the individ- ual as a dependent for the year. Form 2120, Multiple Support Declaration, is available at any Internal Revenue Serv- ice office.
HOW TO REPORT YOUR INCOME
The law says all kinds of income in cifically exempt must be included in in finding out what kinds of income
whatever form received are subject to your return, even though it may be must be reported on your income tax
ta.x with specific exceptions. This offset by expenses and other deductions, return and what items are exempt from
means that all income which is not spc- The following examples will help you tax.
Examples of Income Which Must Be Reported
Wages, salaries, bonuses, commissions, Industrial, civil service and other pen- Alimony, separate maintenance or sup-
sions, annuities, endowments. port payments received from (and
Rents and royalties from property, pat- deductible by) your husband (or
ents, copyrights.
Profits from business or profession.
Your share of partnership profits; estate or trust income.
Examples of Income Which Should Not Be Reported
Government payments and benefits Workmen's compensation, insurance, Federal and made to veterans and their families damages, etc., for injury or sickness. benefits,
except nondisability retirement pay. Interest on State and municipal bonds. Railroad Retirement Act benefits.
Dividends on veterans' insurance. Life insurance proceeds upon death. Gifts, inheritances, bequests.
fees, tips, and gratuities. Dividends.
Interest on bank deposits, bonds, notes. Interest on U. S. Savings bonds. Profits from sales or exchanges of real
estate, securities, or otlier property.
ife). For details see Other Deduc- tions, page 10 of this pamphlet.
State Social Security
ROUNDING OFF TO WHOLE-DOLLAR AMOUNTS
If you wish, the money items on your return and accompanying schedules re- quired by such return may be shown as whole-dollar amounts. This means that you eliminate any amount less than 50 cents, and increase any amount from 50 cents through 99 cents to the next higher dollar. ATTACHMENTS TO THE RETURN
Attachments may be used in the prep- aration of your return and supplemental schedules, provided they contain all of the required information and that sum- marized totals of the items shown in the attachments are entered on the return and schedules. This does not apply to page 3 of the business and farm sched- ules (Schedules C and F) which the Service separates from the returns and transmits to the Social Security Admin- istration for the recording of informa- tion in benefit accounts, or to any tax computation portion of a form or sched- ule. LINE 5— WAGES, SALARIES, ETC.
Enter all wages, salaries, etc., on the lines provided. If more space is
needed attach a separate statement. You must report the full amount of your wages, salaries, fees, commissions, tips, bonuses, and other payments for your personal services even though taxes and other amounts have been withheld by your employer.
Payment in Merchandise, etc. — If you
are paid in whole or in part in mer- chandise, services, stock, or other things of value, you must determine the fair market value of such items and include it in your wages.
Meals and Living Quarters. — Employees
who, as a matter of choice, receive meals and lodging from their employers whether or not it is agreed to be part of their salaries must include in income the fair market value of the meals and lodging.
However, if, for the convenience of your employer, your meals are furnished at your place of employment or you arc required to accept lodging at your place of employment as a condition of your employment, the value of the meals or lodging is not to be reported in your return.
Earned Income From Sources Without The
United States. — For the purpose of de- termining whether an income tax return must be filed for years beginning in 1958, gros^ income must be computed without regard to the exclusion provided for income earned from sources with- out the United States. If you received such income and believe it is excludable for income tax purposes, complete Form 2555 and attach it to your Form 1040.
Income Tax Withheld. — Itemize the
taxes withheld, and report the total amount on line 17 (a). If you have lost any Withholding Statement, ask your employer for a copy. If you can- not furnish Withholding Statements for all taxes withheld from you, attach an explanation.
Excess Social Security (F. !. C. A.) Tax
Credit.— If more than $94.50 of Social Security (F. I. C. A.) employee t.tx wa'; withheld during 1958 because tithcr you or your wife received waives from more than one employer, the excess should be claimed as a credit against income lax. Enter any excess of Soci.il Security (F. I. C. A.) tax withheld over $94.50
o6»— 10— 746t.8-I
96 6
FACSIMILES OF TAX RETURNS, 1958 INSTRUCTIONS FOR PAGE 1 OF FORM 1040— Continued
on line 5, column (b), and write "F. I. C. A.- tax" in the "Where Em- ployed" column. If a joint return, do not add the Social Security (F. I. C. A.) tax withheld from both husband and wife to figure the excess over $94.50; compute the credit separately.
Credit for Taxes Paid by Regulated Invest- ment Companies. — If you are entitled to a credit for taxes paid by a regulated investment company on undistributed capital gains, enter the credit on line 5, column (b), and write "Credit from regulated investment company" in "Where Employed" column. To sub- stantiate the credit claimed attach Copy B of Form 2439 to page 1 of Form 1040 in the same manner as Withholding Statements, Form W-2. EMPLOYEE BUSINESS EXPENSES
Certain expenses incurred by an em- ployee in connection with his employ- ment, amounts charged to his employer, and any advances, allowances, or reim- bursements he receives for such expenses must be taken into account in deter- mining his income tax liability. UndeY certain circumstances, however, the ex- penses— and an equal amount of the employer's payments — need not be shown on the return. The following instructions will assist you in making your computation: Part I deals with de- ductible expenses and Part II with re- porting requirements. (Note: You do not have to report in your return em- ployer paid expenses incurred for in- cidentals, such as the purchase of office supplies for the employer or local trans- portation in connection with an errand.)
Part I. Employee Business Expenses Which Are Deductible
The law requires that certain em- ployee business expenses be handled differently from other expenses. The rules are as follows:
A. Travel, transportation, and out- side salesmen expenses:
You may deduct these expenses from the amounts you are required to report in item 5, page 1, to the extent they arc not paid for by your employer. See Part II for reporting requirements. Travel, transportation, and outside salesmen ex- penses mean :
( 1 ) Expenses for travel, including the cost of meals and lodging, while temporarily away, at least overnight but ordinarily for less than a year, from the city, town or other general area which constitutes your principal or regular business location arc deductible as expenses for travel while "away from home." For this purpose, "home"
means your principal or regular business location.
(2) Transportation expenses in con- nection with your duties as an employee are deductible even though you are not away from home as explained above. Transportation expenses include pay- ments for actual travel or, if you use your own car, they include the business portion of the cost of operation, includ- ing fuel, repairs, and depreciation. The cost of commuting between your resi- dence and your principal place of em- ployment is a personal expense and is not deductible.
(3) If you are an "outside salesman" you may deduct all of the expenses which are ordinary and necessary in performing your duties. This means that in addition to the expenses de- scribed above you are entitled to deduct other business expenses such as business entertainment, stationery, and postage. The term "outside salesman" means one who is engaged in full time solicitation of business for his employer away from the employer's place of business. It does not include a person whose prin- cipal activities consist of service and delivery as, for example, a milk driver- salesman.
B. Other employee business expenses: If you itemize deductions on page 2 of your return, you may deduct (under the heading "Other Deductions") ordi- nary and necessary business expenses, other than those described in "A" above to the extent that they are not paid for by your employer. Examples of such expenses are entertainment, professional and union dues, and the cost of tools, materials, etc.
Part 11. Reporting Employee Business Ex- penses
Expenses you paid or incurred as an employee, ■ or expenses which you charged to your employer, or expenses for which you received an advance, al- lowance, or reimbursement should be handled as follows:
A. Employees who are required to and do account to their employers:
If you were required to and did sub- mit an expense voucher or other ac- counting to your employer in which you listed your business expenses by cate- gories (i. e., transportation, meals and lodging while away from home over- niglit, entertainment expenses, and other business expenses), and if your answer is "Yes" to the questions on page 1 of Form 1040 relating to reimbursed expenses, you may report as follows:
(1) // employer's jiaymcnls equaled business expenses. — You need not re-
port these items on your return either itemized or in total amount.
(2) // employer's payments exceeded business expenses. — If you received from or charged to your employer (for ex- ample, through the use of credit cards) amounts in excess of your actual busi- ness expenses, or if your employer paid your personal expenses for you, the ex- cess amounts and the amount of per- sonal expenses must be included in income on line 5, page 1, of Form 1040, and must be identified as "E.xcess Reimbursements."
(3) // expenses exceeded employer's payments. — If you wish to claim a de- duction for the amount of the excess ex- penses, you must, in addition to answer- ing the questions relating to business expenses on page 1 of Form 1040, sub- mit the following information "with your return :
(a) The total of all amounts re- ceived from or charged to your em- ployer for business expenses, including amounts charged directly or indirectly through credit cards or otherwise,
{b) The- nature of your occupation,
[c) The number of days away from home on business, and
{d) The amount of your expenses which constitute ordinary and necessary business expenses broken down into such broad categories as transportation, meals and lodging while away from home overnight, entertainment ex- penses, and other business expenses.
In preparing your statement and claiming your expenses be sure to sep- arate the expenses as explained in Part I which are deductible in computing the amount to be entered on line 5, page 1, of the return and those expenses which are deductible on page 2 of the return. Form 2106 is available in any Internal Revenue Service oflSce for use in listing these expenses.
If you received per diem, in lieu of subsistence, of not more than $15 per day, or a mileage allowance of not more than 12/2 cents per mile for travel within the continental limits of the United States, it will be considered that you were required to account to your employer, and you will be required to leport only the excess of the allowance over your actual expenses.
B. Employees who do not account to their employers or who are not reim- bursed for their expenses:
If you were not required to account to your employer (or if you were re- quired to accoimt and did not) or if your em]5loycr did not pay for your busi- ness exprnses in connection with your
FACSIMILES OF TAX RETURNS. 1958 INSTRUCTIONS FOR PAGE 1 OF FORM 1040— Continued
97 7
duties as an employee, submit the in- formation required in subparagraph (3) above in a statement attached to your return, answer the questions on page 1 of Form 104O relating to reimbursed expenses and complete your return as follows:
(1) // employer's payments equaled business expenses. — No further entry with regard to the transactions need be made on the form.
( 2 ) // employer's payments exceeded business expenses. — If you received from or charged to your employer (for example, through the use of credit cards) amounts in excess of your actual business expenses, or if your employer paid your personal expenses for you, the excess amounts and the amount of per- sonal expenses must be included in in- come on line 5, page 1, of Form 1040, and identified as "Excess Reimburse- ments."
(3) // your business expenses exceed- ed employer's payments or the employer did not pay for your expenses. — You may claim deductions for those business expenses not paid by him as explained in subparagraph (3) of Part II.
LINE 6— EXCLUSION FOR "SICK PAY"
The law allows you to exclude from income amounts received under a wage continuation plan for the period during which you were absent from work on ac- count of personal injuries or sickness. If both you and your employer contrib- ute to the plan, any benefits attrib- utable to your own contributions are excludable without limit, but there are certain limitations on the exclusion of the benefits attributable to your employ- er's contributions. In the case of such a contributory plan, it will be necessary for you to know to what extent any benefits are attributable to your contributions and to what extent they are attributable to your employer's contributions.
The employer-provided wage contin- uation payments can be excluded at a rate not to exceed $100 a week. In cases where these payments exceed a weekly rate of $100, the exclusion is figured by multiplying the amount received by 100 and dividing the result by the weekly rate of pa'^Tncnt.
If your absence is due to sickness, the exclusion of employer-provided wage continuation payments does not apply to the amounts received for the first 7 calendar days of each absence from work. However, if you were (a") hos- pitalized on account of sickness for at least one day at any time during the ab- sence from work, or (b) injured, the exclusion applies from the first day of absence.
If you received sick pay and it is in- cluded in your gross wages as shown on Form W-2, enter the gross wages on line 5, and enter on line 6 the amount of such wages to be excluded. If you claim an exclusion of any sick pay, at- tach a statement showing your compu- tation, and indicating the period or periods of absence, nature of sickness or injury, and whether hospitalized. Or, in lieu of a statement you may use Form 2440 which may be obtained from any Internal Revenue Service office.
LINE 8— BUSINESS OR PROFESSION
General. — The law taxes the profits from a business or profession — not its to- tal receipts. Therefore, separate Sched- ule C (Form 1040), which contains fur- ther instructions, is provided to help you figure your profit or loss from business.
If some of your expenses are part business and part personal, you can de- duct the business portion but not the personal portion. For instance, a doctor who uses his car half for business can deduct only half the operating expenses.
Everyone engaged in a trade or busi- ness and making payments to another person of salaries, wages, commissions, interest, rent, etc., of $600 or more in the course of such trade or business during his taxable year must file infor- mation returns. Forms 1096 and 1099, to report such payments. If a portion of such salary or wage payments was reported on a Withholding Statement (Form W-2), only the remainder must be reported on Form 1099.
Accounting Methods and Records.— Your
return must be on the "cash method" unless you keep books of account. "Cash method" means that all items of taxabl income actually or constructively re- ceived during the year (whether in cash or in property or services) and only those amounts actually paid during the year for deductible expenses are shown, income is "constructively" received when it is credited to your account or set aside for you and may be drawn upon by you at any time. Uncashed salaiy or dividend checks, bank interest credited to your account, matured bond coupons, and similar items which you can turn into cash immediately are "constructively received" even though you have not actually converted them into cash.
An "accrual method" means that you report income when earned, even if not received, and deduct expenses when incurred, even if not paid within the taxable period.
The method used in keeping your records may be the cash metliod, or an accrual method, so long as income is
clearly reflected. However, in most cases you must secure consent of the Commissioner of Internal Revenue, Washington 25, D. C, before changing your accounting method.
Net Operating Loss. — If, in 1958, your
business or profession lost money instead of making a profit, or if you had a cas- ualty loss, or a loss from the sale or other disposition of depreciable property (or real property) used in your trade or business, you can apply these losses against your other 1958 income. If these losses exceed your other income, tlie excess of this "net operating loss" must be carried back three years to off- set your income for 1955 first, and then 1956 and 1957, and any remaining excess may be carried forward against your income for the years 1 959 through 1963. If a carryback entitles you to a refund of prior year taxes, ask the Dis- trict Director for Form 1045 to claim a quick refund. For further information, see section 172 of the Internal Revenue Code of 1954 and section 122 of the 1939 Code.
If you had a loss in preceding years which may be carried over to 1958, you should apply the net operating loss de- duction as an adjustment of the amount entered on Hne 11, and attach a state- ment showing this computation.
LINE 9— FARMING
For the assistance of farmers, a sepa- rate Schedule F (Form 1040) is provided to report farm income for income and self-employment tax purposes.^ Addi- tional instructions for farmers have been provided for use with Schedule F which may be obtained from any Inter- nal Revenue Service office.
SPECIAL COMPUTATIONS Unmarried Head of Household.— The law
provides a special tax rate for any indi- vidual who qualifies as a "Head of Household." Only the following per- sons may qualify: (a) one who is un- married (or legally separated) at the end of the taxable year, or (b) one who is married at the end of the year to an individual who was a nonresident alien at any time during the taxable year. In addition, you must have furnished over half of the cost of maintaining as your home a household which dining the entire year, except for temporary absence, was occupied as the principal place of abode and as a member of such household by ( 1 ) any related person (see those listed under requirement 5 at the top of page 5 of these instructions) for whom you are entitled to a deduc- tion for an exemption, unless the de- duction arises from a multiple support agreement, (2) your unmarried child,
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FACSIMILES OF TAX RETURNS, 1958 INSTRUCTIONS FOR PAGE 1 OF FORM 1040— Continued
grandchild, or stepchild, even though such child is not a dependent or (3) your married child, grandchild, or step- child for whom you are entitled to a deduction for an exemption.
If you qualify under (a) or (b) above, you are entitled to the special tax rate if you pay more than half the cost of maintaining a household (not necessarily your home) which is the principal place of abode of your father or mother and who qualifies as your dependent.
The cost of maintaining a house- hold includes such items as rent, prop- erty insurance, property taxes, mort- gage interest, repairs, utilities (gas, telephone, etc.) and cost of food. Such expenses do not include the cost of clothing, education, medical treatment, vacations, life insurance, and transpor- tation. Do not include the value of per- sonal services performed by you or by the person qualifying you as Head of Household. The above expenditures are to be considered only for determin- ing whether you are entitled to the use of.the head of household tax rate. Do not claim them as deductions on your return unless they are otherwise allow- able.
The rates for Head of Household are found in tax rate schedule HI on page 15 of these instructions.
Widows and Widowers. — Under certain conditions a taxpayer whose husband (or wife) has died during either of her two preceding taxable years may com- pute her tax by including only her in- come, exemptions, and deductions, but otherwise computing the tax as if a joint return had been filed. However, the exemption for the decedent may be claimed only for the year of death.
The conditions are that the taxpayer (a) must not have remarried, (b) must maintain as her home a household which is the principal place of abode of her child or stepchild for whom she is entitled to a deduction for an exemp- tion, and (c) must have been entitled to file a joint return with her husband (or wife) for the year of death.
USE OF TAX TABLE ON PAGE 16 OF THESE INSTRUCTIONS
Purpose of Table. — ^The table is a short- cut method of finding your income tax if your adjusted gross income, line 11, page 1, of your return is less than $5,000. It is provided by law and saves you the trouble of itemizing deductions and computing your tax on page 2 of the return. The table allows for an exemp- tion of $600 for each person claimed as an exemption, and charitable contribu- tions, interest, taxes, etc., appro.ximat- ing 10 percent of your income.
How To Find Your Tax.— Read down
the income columns until you find the line that fits the income you reported on line 1 1 , page 1 . Then read across that line until you come to the exemption column which is headed by a number corresponding to the number of exemp- tions you claimed on line 4 on page 1. The figure you find there is your tax.
LINE 13(a) — See page 14 of these instructions. LINE 13(b) — See page 14 of these instructions.
LINE 15— SELF-EMPLOYMENT TAX
Every self-employed individual must file an annual return of his self-employ- ment income on Form 1040 if he has at least $400 of net earnings from self- employment in his taxable year, even though he may not have sufficient in- come to require the filing of an income tax return or is already receiving social security benefits.
Generally, if you carry on a business as a sole proprietor, or if you render service as an independent contractor, or as a member of a partnership or similar organization, you will have self-employ- ment income.
If your income is derived solely from salary or wages, or from dividends or interest on investments, capital gains, annuities, or pensions, you will have no self-employment income and no self- employment tax to pay.
The computation of self-employment tax is made on separate Schedule C or
separate Schedule F, which with at- tached Schedule SE should be filed with your individual income tax return. The self-employment tax is a part of the total tax to be paid with your income tax return. Enter on line 15 the amount of your self-employment tax shown on line 34, separate Schedule C, or line 18, separate Schedule F.
Any declaration of estimated income tax required to be filed may include esti- mated tax on self -employment income.
If a citizen living abroad is self- employed, he should consult the perti- nent sections of I. R. S. Pub. 54.
LINE 17(a)— CREDIT FOR TAX WITHHELD
Enter the total amount of income tax withheld, credit for excess F. I. C. A. tax, and credit for taxes paid by regu- lated investment companies as shown on fine 5, column (b). Also see explana- tion for line 5 on pages 5 and 6 of these instructions relating to these credits.
LINE 17(b)— CREDIT FOR ESTIMATED TAX PAYMENTS
If you paid any estimated tax on a Declaration of Estimated Income Tax (Form 1040-ES) for 1958, report the total of such payments on line 17(b). If on your 1957 return you had an overpayment which you chose to apply as a credit on your 1958 ta.x, include the credit in this total.
See page 14 of these instructions for filing requirements for 1959 declaration of estimated income tax.
LINES 18 AND 19— BALANCE OF TAX DUE OR REFUND OF OVERPAYMENT
Show on line 18 any balance you owe, or on line 19 the amount of any overpayment due you, after taking credit for the amounts entered on line 17.
In order to facilitate the processing of collections and refunds, balances due of less than $1.00 need not be paid, and overpayments of less than $1.00 will be refunded only upon separate application to your District Director.
INSTRUCTIONS FOR PAGE 2 OF FORM 1040
Itemized Deductions— If you do not use Tax Table or Standard Deduction.
CONTRIBUTIONS
If you itemize deductions, you can deduct gifts to religious, charitable, educational, scientific, or literary organ- izations, and organizations for the
prevention of cruelty to children and animals, unless the organization is op- erated for personal profit, or conducts propaganda or otherwise attempts to influence legislation. You can deduct gifts to fraternal organizations if they
are to be used for charitable, religious, etc., purposes. You can also deduct gifts to veterans' organizations, or to a governmental agency which will use the gifts for public purposes. A contribu- tion may be made in money or property
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INSTRUCTIONS FOR PAGE 2 OF FORM 1040— Continued 9
(not services). If in property, it is generally measured by the fair market value of the property at the time of contribution.
For the contribution to be deductible, the recipient of the contribution must have been organized or created in the United States or its possessions, or under our law. The law does not allow deduc- tions for gifts to individuals, or to other types of organizations, however worthy. In general, the deduction for contri- butions may not exceed 20 percent of your adjusted gross income (line 11, page 1 ) . However, you may increase this limitation to 30 percent if the extra 10 percent consists of contributions made to churches, a convention or as- sociation of churches, tax-exempt edu- cational institutions, tax-exempt hos- pitals, or certain medical research organizations.
If all your contributions were to these churches, schools, hospitals, or medical research organizations, you can deduct the contributions made but not more than 30 percent of your adjusted gross income. To compute the deduction for contributions you should first figure the contributions to these special institutions to the extent of 10 percent of your ad- justed gross income and the amount in excess of 10 percent should be added to the other contributions to which the 20 percent limitation applies. Attach a schedule showing this computation.
While you can deduct gifts to the kind of organizations listed below, you cannot deduct dues or other payments to them, for which you receive personal benefits. For example, you can deduct gifts to a YMCA but not dues.
Some examples of the treatment of contributions are: You CAN Deduct Gifts To: Churches, including assessments Salvation Army Red Cross, community chests Nonprofit schools and hospitals Veterans' organizations Boy Scouts, Girl Scouts, and other similar
organizations Nonprofit organizations primarily engaged in conducting research or education for the alleviation and cure of diseases such as tuberculosis, cancer, multiple sclerosis, muscular dystrophy, cerebral palsy, polio- myelitis, diabetes, and diseases of the heart, etc.
You CANNOT Deduct Gifts To: Relatives, friends, other individuals Political organizations or candidates Social clubs Labor unions Chambers of commerce Propaganda organizations
INTEREST
If you itemize deductions, you can deduct interest you paid on your per-
sonal debts, such as bank loans or home mortgages. Interest paid on business debts should be reported in separate Schedules C or F or Schedule G, page 3, of Form 1040. Do not deduct interest paid on money borrowed to buy tax- exempt securities or single-premium life insurance. Interest paid on behalf pf another person is not deductible unless you were legally liable to pay it. In fig- uring the interest paid on a mortgage on your home or on an installment con- tract for goods for your personal use, eliminate such items as carrying charges and insurance, which are not deducti- ble, and taxes which may be deductible but which should be itemized separately. The law allows a deduction for inter- est paid for purchasing personal prop- erty (such as automobiles, radios, etc.) on die installment plan where the in- terest charges are not separately stated from other carrying charges. This de- duction is equal to 6 percent of the average unpaid monthly balance under the contract. Compute the average un- paid monthly balance by adding up the . unpaid balance at the beginning of each month during the year and divid- ing by 12. The unpaid balance at the beginning of each month is determined by taking into account the amounts re- quired to be paid under the contract whether or not such amounts are ac- tually paid. The interest deduction may not exceed the portion of the total carr^'ing charges attributable to the taxable year.
You CAN Deduct Interest On:
Your personal note to a bank or an individual
A mortgage on your home
A life insurance loan, if you pay the interest
in cash Delinquent taxes
You CANNOT Deduct Interest On:
Indebtedness of another person, when you arc not legally liable for payment of the interest
A gambling debt or other nonenforccable ob- ligation
A life insurance loan, if interest is added to the loan and you report on the cash basis
TAXES
If you itemize deductions, you can deduct most non-Federal taxes paid by you. You can deduct, State or local retail sales taxes if under the laws of your State they are imposed directly upon the consumer, or if they are im- posed on the retailer (or wholesaler in case of gasoline taxes) and the amount of the tax is separately stated by the retailer to the consumer. In general, you cannot deduct taxes assessed for pavements or other local improvements, including front-foot benefits, which tend to increase the value of your property. Consult your Internal Revenue Service office for circumstances under which
local improvement taxes may be de- ducted. If you paid foreign income taxes, you may be entitled to a credit against your tax rather than a deduc- tion from income. Form 1116 should be used to claim this credit.
Do not deduct on page 2 any non- business Federal taxes, or any taxes paid in connection with a business or profes- sion which are deductible in Schedule G or separate Schedule C or F. You CAN Deduct: Personal property taxes Real estate taxes State income taxes State or local retail sales taxes Auto license fees State capitation or poll taxes State gasoline taxes You CANNOT Deduct: Any Federal excise taxes on your personal expenditures, such as taxes on theater ad- missions, furs, jevk'clr>', cosmetics, trans- portation, telephone, etc. Federal social security taxes Hunting licenses, dog licenses Auto inspection fees Water taxes Taxes paid by you for another person
MEDICAL AND DENTAL EXPENSES
If you itemize deductions, you can de- duct, within the limits described below, the amount you paid during the year (not compensated by hospital, health or accident insurance) for medical or den- tal expenses for yourself, your wife, or any dependent who received over half of his support from you. List name and amount paid to each person. If you pay medical expenses for a dependent who gets over half of his support from you, you can deduct the payments even though you are not entitled to an exemp- tion for that dependent because he had $600 or more gross income.
You can deduct amounts paid for the prevention, cure, correction, or treat- ment of a physical or mental defect or illness. If you pay someone to perform both nursing and domestic duties, you can deduct only that part of the cost which is for nursing.
You can deduct the cost of transpor- tation primarily for and essential to medical care, but you cannot deduct any other travel expense even if it bene- fits your health. Meals and lodging while away from home receiving medi- cal treatment may not be treated as medical expense unless they are part of a hospital bill or are included in the cost of care in a similar institution.
Figuring the Deduction. — You can de- duct only those medical and dental ex- penses which exceed 3 percent of your adjusted gross income. However, in figuring these expenses, the amount paid for medicine and drugs may be taken
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into account only to the extent it ex- ceeds 1 percent of your adjusted gross income. There is a schedule provided on page 2 to make this computation.
Any expense (other than medical) claimed as a deduction for the care of children and certain other dependents should not be included in your medical expense deduction.
Limitations. — The deduction may not exceed $2,500 multiplied by the num- ber of exemptions other than the exemp- tions for age and blindness. In addi- tion, there is a maximum limitation as follows :
(a) $5,000 if the taxpayer is single and not a head of household or a widow or widower entitled to the special tax rates ;
(b) $5,000 if the taxpayer is married but files a separate return; or
(c) $10,000 if the taxpayer files a joint return, or is a head of household or a widow or widower entitled to the special tax rates.
Subject to the Foregoing Limitations, You CAN Deduct as Medical Expenses Pay- ments To or For :
Physicians, dentists, nurses, and hospitals
Drugs or medicines
Transportation necessary to get medical care
Eyeglasses, artificial teeth, medical or surgi- cal appliances, braces, etc.
X-ray examinations or treatment
Premiums on hospital or medical insurance
You CANNOT Deduct Payments For: Funeral expenses and cemetery plot Illegal operations or drugs Travel ordered or suggested by your doctor
for rest or change Premiums on life insurance
Special Rules for Persons 65 or Over. —
(a) If not disabled. — If either you or your wife were 65 or over during the taxable year, the maximum limita- tion for amounts spent is the same as set out above. However, amounts de- ductible for medical and dental ex- penses for you and your wife, if either was 65 or over, are not restricted to the excess over 3 percent of your adjusted gross income. In effect, the 3 percent rule may be disregarded. But the amounts spent by you for medicine and drugs for yourself, your wife, and your dependents are still limited to the excess over 1 percent of your adjusted gross income, and amounts spent by you for your dependents' medical expenses are deductible only to the extent they exceed 3 percent of your adjusted gross income.
(b) // disabled.— If either you or your wife are disabled and 65 or over, you may qualify for an increased maxi- mum limitation. For this purpose dis- abled means that an individual is unable to engage in any substantial gainful ac-
tivity by reason of any medically deter- minable physical or mental impairment which can be expected to result in death or to be of long-continued and indefinite duration. Consult the nearest Internal Revenue Service office for further in- formation.
OTHER DEDUCTIONS
Expenses for the Care of Children and Cer- tain Other Dependents. — There is allowed a deduction not to exceed a total of $600 for expenses paid by a woman or a widower (including men who are di- vorced or legally separated under a decree and who have not remarried) for the care of one or more dependents if such care is to enable the taxpayer to be gainfully employed or actively to seek gainful employment. For this purpose, the term "dependent" does not include the husband (wife) of the taxpayer and is limited to the following persons for whom the taxpayer is entitled to a de- duction for an exemption:
(a) under 12 years of age; or
(b) physically or mentally incapable of caring for themselves.
Do not deduct any child care pay- ments to a person for whom you claim an exemption.
In the case of a woman who is mar- ried, the deduction is allowed only (a) if she files a joint return with her husband ; ,and {b) the deduction is reduced by the amount (if any) by which their com- bined adjusted gross income exceeds $4,500. If the husband is incapable of self-support because he is mentally or physically defective, these two limita- tions do not apply.
If the person who receives the pay- ment performs duties not related to de- pendent care, only that part of the pay- ment which is for the dependent's care may be deducted.
If you claim this deduction, attach a detailed statement showing the amount expended and the person or persons to whom it was paid. If you wish, you may obtain Form 2441 from any Internal Revenue Service office for this purpose.
Casualty and Losses Thefts.— If you item- ize deductions, you can deduct your net loss resulting from the destruction of your property in a fire, storm, automo- bile accident, shipwreck, or other losses caused by natural forces. Damage to your car by collision or accident can be deducted if due merely to faulty driving but cannot be deducted if due to your willful act or willful negligence. You can also deduct in the year of discovery losses due to theft, but not losses due to mislaying or losing articles.
The amount of loss to be deducted is measured by the fair market value of the property just before the casualty less its fair market value immediately after the casualty (but not more than the cost or other adjusted basis of the property), reduced by any insurance or compensa- tion received. Explain in an attached statement.
If your 1958 casualty losses exceed your 1958 income, the excess must be treated in the same manner as a net operating loss described on page 7. You CAN Deduct Losses On : Property such as your home, clothing, or
automobile destroyed or damaged by fire Property, including cash, which is stolen
from you Loss or damage of property by flood, light- ning, storm, explosion, or freezing You CANNOT Deduct Losses On : Personal injury to yourself or another person Accidental loss by you of cash or other per- sonal property Property lost in storage or in transit Damage by rust or gradual erosion .Animals or plants damaged or destroyed by disease
Expenses for Education. — Expenses for
education may be deducted if the edu- cation was undertaken primarily for the purpose of:
(a) Maintaining or improving skills required in your employment or other trade or business, or
(b) Meeting the express require- ments of your employer, or the require- ments of applicable law or regulations, imposed as a condition to the retention of your salary, status, or employment, but only if the expenses are to meet the minimum education required.
Expenses incurred for the purpose of obtaining a new position, a substantial advancement in position, or for per- sonal purposes are not deductible. The expenses incurred in preparing for a trade or business or a specialty are per- sonal expenses and are not deductible.
The rules for reporting deductible education expenses are the same as those shown on page 6 for the reporting of "Employee Business Expenses." If you are required therein to attach a statement to your return explaining the nature of the expenses, also include a description of the relationship of the education to your employment or trade or business. If the education was re- quired by your employer, a statement to that effect from him would be helpful.
Miscellaneous. — If you itemize deduc- tions, you can deduct several other types of expenses under "Other Deductions."
If you work for wages or a salary, you can deduct your ordinary and necessary employee business expenses which have not been claimed on page 1 .
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101
11
You CAN Deduct Cost Of:
Safety equipment
Dues to union" fir professional societies
Entertaining customers
Tools and supplies
Fees to employment agencies
You CANNOT Deduct Cost Of: Travel to and from work Entertaining friends Bribes and illegal payments
You can deduct all ordinary and nec- essary expenses connected with the pro- duction or collection of income, or for the management or protection of prop- erty held for the production of income.
If you are divorced or legally sepa- rated and are making periodic payments of alimony or separate maintenance un- der a court decree, you can deduct these amounts. Periodic payments made under either (a) a written separation agreement entered into after August 16, 1954, or (b) a decree for support en- tered after March 1, 1954, are also de- ductible. Such payments must be in- cluded in the wife's income. You can- not deduct any voluntary payments not under a court order or a written sepa- ration agreement, lump-sum settle-
ments, or specific maintenance pay- ments for support of minor children.
You may deduct gambling losses to the extent of gambling winnings only if you itemize deductions.
If you are a tenant-stockholder in a cooperative housing corporation, you can deduct your share of its payments for interest and real-estate taxes.
Computation of Tax. — For determina- tion of tax, other than from the Tax Table, see page 15.
INSTRUCTIONS FOR PAGE 3 OF FORM 1040
SCHEDULE A— DIVIDENDS
If you own stock, the payments you receive out of the company's earnings and profits are dividends and must be reported in your tax return. Usually dividends are paid in cash, but if paid in merchandise or other property, they are taxable at their fair market value.
If a distribution is not paid from earnings and profits, it is not taxable as a dividend, but is treated as reduction of the cost or other basis of your stock. It is not taxable untU it exceeds your cost or other basis, after which you must generally include it as a gain from the sale or exchange of property, for which special tax treatment is provided.
In some cases a corporation distrib- utes both a dividend and a repayment of capital at the same time; the check or notice will usually show them sep- arately. In any case, you must report the dividend portion as income.
There are special rules applicable to stock dividends, partial liquidations, stock rights, and redemptions ; call your Internal Revenue Service office for more complete information.
You may exclude from your income $50 of dividends received from quali- fying domestic corporations.
If a joint return is filed and both hus- band and wife have dividend income, each one may exclude $50 of dividends received from qualifying corporations, but one may not use any portion of the $50 exclusion not used by the other. For example, if the husband had $200 in dividends, and the wife had $20, only $70 may be excluded on a joint return.
Use Schedule A to list your dividends including dividends you receive as a member of a partnership or as a bene- ficiary of an estate or trust, and to show the amount of the exclusion to which you are entitled. Dividends from mutual insurance companies which are a reduction of premiums are not to be included. So-called "dividends" from
the following corporations are con- sidered interest and should be reported as interest in Schedule B:
Mutual savings banks, cooperative banks, domestic building and loan as- sociations, domestic savings and loan associations, and Federal savings and loan associations, on deposits or withdrawable accounts; and Federal credit unions.
Taxable dividends from the following nonqualifying corporations should be reported on line 5 of Schedule A:
(a) life insurance companies, and mutual insurance companies (other than mutual marine or mutual fire in- surance companies issuing perpetual policies) .
(b) China Trade Act corporations.
(c) so-called exempt organizations (charitable, fraternal, etc.) and exempt farmers' cooperative organizations.
(d) regulated investment companies except to the extent designated by the company to be taken into account as a dividend for these purposes.
(e) corporations deriving 80 percent or more of their income from U. S. pos- sessions and 50 percent or more of their income from the active conduct of a business therein.
(f) corporations which are not domestic corporations.
See page 14 for the credit for divi- dends received. SCHEDULE B— INTEREST
You must include in your return any interest you receive or which is credited to your account (whether entered in your pass-book or not) and can. be with- drawn by you. All interest on bonds, debentures, notes, savings accounts, or loans is taxable, except for certain gov- ernmental issues. Examples of interest which is fully exempt from tax are (a) interest from State and municipal bonds and securities and (b) interest on any $5,000 principal value of Treasury bonds issued before March 1, 1941.
If you own United States Savings or War bonds (Series A to F, inclusive), the gradual increase in value of each bond (as shown in the table on its back) is considered interest, but you need not report it in your tax return until you cash the bond or until the year of final maturity whichever is earlier. How- ever, if you report income on the cash method, you may at any time elect to report each year the annual increase in value, but if you do so you must report in the first year the entire increase to date and must continue to report the annual increase each year.
SCHEDULE D— SALE AND EXCHANGE OF PROPERTY
If you sell your house, car, furniture, securities, real estate, or any other kind of property, you must report any profit from the sale on your tax return. Gen- erally, such profits are capital gains if the property was not held for sale to customers in the ordinary course of bus- iness. Separate Schedule D (Form 1040) is provided to compute capital gains and losses, and the results from other transactions /in property.
Nonbusiness Bad Debts. — If you fail to collect a personal loan, you can list the bad debt as a "short-term capital loss" provided the loan was made with a true expectation of collecting. So-called loans to close relatives, which are really in the nature of gifts, must not be listed as deductible losses.
Sale of Homes, etc. — General Rule.— The
law requires you to report any gains from the sale or exchange of your resi- dence or other nonbusiness property, but does not allow you to claim any loss from the sale of a home or other asset which was not held for the purpose of producing income. Your gain from the sale of this kind of property is the dif- ference between ( 1 ) the sales price and (2) your original cost plus the cost of permanent improvements. If deprecia-
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FACSIMILES OF TAX RETURNS, 1958 INSTRUCTIONS FOR PAGE 3 OF FORM 1040— Continued
tion was allowed or allowable during any period because you rented the house or used part of it for business puiposes, the original cost must be reduced by the amount of depreciation which was al- lowed or allowable.
Special Rule.— Deferring Gain When Buy- ing New Residence. — If you sold or ex- changed your principal residence dur- ing 1958 at a gain and within one year after (or before) the sale you purchase another residence, and use it as your principal residence, none of the gain is taxable if the cost of the new resi- dence equals or exceeds the adjusted sales price of the old residence. See, however, instructions below for infor- mation to be furnished. If instead of purchasing another residence, you begin construction of a new residence ^cither one year before or within one year after the sale of your old residence) and use it as your principal residence not later than 18 months after the sale, none of the gain upon the sale is taxable if your costs attributable to construction during, plus the cost of land acquired within, the period beginning one year before the sale and ending 18 months after the sale equals or exceeds the ad- justed sales price of the old residence. If the adjusted sales price of your old residence exceeds the cost of your new residence, the gain on the sale is tax- able to the extent of such excess.
The adjusted sale price is the gross selling price less commissions, selling ex- penses, and the expenses for work per- formed on the residence in order to assist in its sale, such as redecorating expenses. Redecorating expenses must be for work performed during the 90-day period ending on the day on which a contract to sell is entered into, and must be paid wdthin 30 days after date of sale.
If you sold or exchanged your resi- dence at a gain, report the details of the sale in separate Schedule D. If you do not intend to replace, or if the period for replacement has passed, report the details in the year of sale. If you have acquired your new residence and used it as your principal residence, enter in column (h) only the amount of taxable gain, if any, and attach statement show- ing the purchase price, date of purchase, and date of occupancy.
If you have decided to replace, but have not done so, or if you are unde- cided, you should enter "None" in col- umn (h). When you do replace with- in the required period, you must advise the District Director, giving full details. When you decide not to replace, or the period has passed, you must file an amended return, if you previously filed a
return. Since any additional tax due will bear interest from the due date of the original return until paid, it is ad- visable to file the amended return for the year of sale as promptly as possible. Form 2119 is available at any Internal Revenue Service office for reporting this transaction.
SCHEDULE E-PENSIONS AND ANNUITIES
Noncontributory Annuities. — The full
amount of an annuity or a pension of a retired employee, where the employee did not contribute to the cost and was not taxable on his employer's contribu- tions, must be included in his gross income. The total of the payments received during his taxable year should be shown on line 6, part I of Schedule E. However, if there is a death-benefit exclusion, this rule does not apply; con- sult the Internal Revenue Service.
Other Annuities. — Amounts received from other annuities, pensions, endow- ments, or life insurance contracts for a reason other than the death of the insured, whether paid for a fixed num- ber of years or for life, may have a portion of the payment excluded from gross income. The following types are included under this rule: (a) pensions where the employee has either con- tributed to its cost or has been taxed on his employer's contributions, and (b) amounts paid fef a reason other than the death of the insured under an an- nuity, endowment, or life insurance contract.
Schedule E is provided for reporting the taxable portion of the annuity. If you are receiving payments on more than one pension or annuity, fill out a separate schedule for each one.
Special Rule for Certain Types of Em- ployees' Annuities. — There is a special rule provided for amounts received as em- ployees' annuities where part of the cost is contributed by the employer and the amount contributed by the employee will be returned within 3 years from the date of the first payment received under the contract. If both of these condi- tions are met, then all the payments re- ceived under the contract during the first three years are to be excluded from gross income until the employee recov- ers his cost (the amount contributed by him plus the contributions made by the employer on which the employee was previously taxable); thereafter all amounts received are fully taxable, This method of computing taxable in- come also applies to employee's bene- ficiary if employee died before receiving any annuity or pension payments.
Example: An employee receives .$200
a month under an annuity. While he worked, he contributed $4,925 toward the cost of the annuity. His employer also made contributions toward the cost of the annuity for which the employee was not taxable. The retired employee would be paid $7,200 during his first 3 years, which amount exceeds his con- tribution of $4,925. Therefore, he excludes from gross income all the pay- ments received from the annuity until he has received $4,925. All payments received thereafter are fully taxable.
General Rule for Annuities. — Generally,
amounts received from annuities and pensions are included in income in an amount which is figured upon your life expectancy. This computation and your life expectancy multiple can be found in the regulations covering an- nuities and pensions which may be ob- tained at any Internal Revenue Seiv- ice oflSce. Once you have obtained the multiple it remains unchanged and it will not be necessary to recompute your taxable portion each year unless the payments you receive change in amount. In making this computation you can get help from the Interna! Revenue Service as well as from some employers and insurance companies.
Amounts Received Under Life- Insurance Policies by Reason of Death.— Generally, a
lump sum payable at the death of the insured under a life insurance policy is excludable from the gross income of the recipient. For more detailed informa- tion, call or visit your Internal Revenue Service office.
SCHEDULE G— RENTS AND ROYALTIES
If you are not engaged in selling real estate to customers, but receive rent from property owned or controlled by you, or royaldes from copyrights, min- eral leases, and similar rights, report the total amount received in Schedule G. If property other than cash was re- ceived as rent, its fair market value should be reported.
You are entitled to various deductions which are indicated in Schedule G. In the case of buildings you can deduct depreciation, as explained on page 13.
You can also deduct all ordinary and necessary expenditures on the property such as taxes, interest, repairs, insurance, agent's commissions, maintenance, and similar items. However, you cannot deduct capital investments or improve- ments but must add them to the basis of the property for the purpose of de- preciation. For i^.xample, a landlord can deduct the cost of minor repairs but net the cost of major improvements such as a new roof or remodeling.
c59— 16— 74558-1
FACSIMILES OF TAX RETURNS, 1958 INSTRUCTIONS FOR PAGE 3 OF FORM 1040— Continued
103 13
Expenses, depreciation, and depletion should be listed in total in the columns provided in Schedule G.
If You Rent Part of Your House—
If you rent out only part of your prop- erty, you can deduct only that portion of your expenses which relates to the rented portion. If you cannot deter- mine these expenses exactly, you may figure them on a proportionate basis. For example, if you rent out half of your home, and live in the other half, you can deduct only half of the depre- ciation and other expenses.
Room rent and other space rentals should be reported as business income in separate Schedule C if services are rendered to the occupant; otherwise, report such income in Schedule G. If you are engaged in the business of sell- ing real estate, you should report rentals received in separate Schedule C.
SCHEDULE H— OTHER INCOIVIE
Partnerships. — A partnership does not pay income tax unless it elects to be taxed on the same basis as a domestic corporation. It does, however, file an information return on Form 1065. Only one Form 1065 need be filed for each partnership. Each partner must report in his personal tax return his share of his partnership's taxable income and pay tax on it.
Include in Schedule H your share of the ordinary income (whether actually received by you or not) or the net loss
of a partnership, joint venture, or the like, whose taxable year ends within or with the year covered by your return. Other items of income, deductions, etc., to be carried to the appropriate sched- ule of your individual return are showTi in Schedule K of the partnership return. Your share of such income of the fol- lowing classes should be entered on the appropriate lines on Form 1040:
Dividends.
Interest on tax-free covenant bonds. Partially tax-exempt interest. Gains from the sale or exchange of capital assets and other property.
If the partnership is engaged in a trade or business, the individual partner may be subject to the self-employment tax on his share of the self-employment income from the partnership. In such a case the partner's share of partnership self-employment net earnings (or loss) should be entered on line 28(b), page 3, separate Schedule C. Members of farm partnerships should use Schedule F to figure self-employment tax.
Estates and Trusts.— If you are a bene- ficiary of an estate or trust, report in your personal tax return your taxable portion of its income (whether actually received or not) which, for the taxable year, is either required to be distributed to you or has been paid or credited to your account. Your share of such in- come of the following classes should be entered on the appropriate lines on Form 1040:
Dividends.
Interest on tax-free covenant bonds.
Partially tax-exempt interest.
Gains from the sale or exchange of capital assets and other property. All other taxable income from estates and trusts should be included in Sched- ule H of your return. Any deprecia- tion (on estate or trust property) which is allocable to you may be subtracted from estate or trust income so that only the net income received will be included in your return. Information with re- spect to these items may be obtained from the fiduciary.
Small Business Corporations. — If you are
a shareholder in a. small business cor- poration which elects to have its cur- rent taxable income taxed to its stock- holders, you should report your share of both the distributed and undistributed current taxable income as ordinary in- come in Schedule H except that por- tion which is reportable as a long-term capital gain in Schedule D. Neither type of income is eligible for the divi- dend received credit or the exclusion. Your share of any net operating loss should be treated in the same manner as if the loss were from a proprietorship. Other Income. — If you cannot find any specific place on your return to list certain types of income, you should re- port such income in Schedule H. This is the proper place to report amounts received as alimony, support, prizes, and recoveries of bad debts and other items, which reduced your tax in a prior year.
INSTRUCTIONS FOR PAGE 4 OF FORM 1040
SCHEDULE I— DEPRECIATION
A reasonable allowance for the ex- haustion, wear and tear, and obsoles- cence of property used in the trade or business or of property held by the tax- payer for the production of income shall be allowed as a depreciation deduction. The allowance does not apply to inven- tories or stock-in-trade nor to land apart from the improvements or physical development added to it.
The cost (or other basis) to be recov- ered should be charged off over the expected useful life of the property. Similar assets may be grouped together as one item for reporting purposes in the depreciation schedule. For guid- ance, comprehensive tables of "average useful lives" of various kinds of build- ings, machines, and equipment in many industries and businesses have been published in a booklet called Bulletin F, which may be purchased for 30 cents from the Superintendent of Documents,
Government Printing Office, Washing- ton 25, D. C.
Straight Line Method.— To compute,
add the cost of improvements to the cost (or other basis) of the asset and deduct both the estimated salvage value and the total depreciation allowed or al- lowable in past years. Divide the result by the number of years of useful life re- maining to the asset — the quotient is the depreciation deduction.
Declining Balance Method.— Under this
method a uniform rate is apphed each year to the remaining cost or other basis of property (without adjustment for salvage value) determined at the be- ginning of such year. For property acquired before January 1, 1954, or used property whenever acquired, the rate of depreciation under this method may not exceed one and one-half times the applicable straight-line rate.
Special Rules for New Assets Acquired After December 31, 1953. — The cost or
other basis of an asset acquired after December 31, 1953, may be depreciated under methods proper before that date; or, it may be depreciated under any of the following -methods provided (1) that the asset is tangible, (2) that it has an estimated useful life of three years or more, and (3) that the original use of the asset commenced with the taxpayer and commenced after Dec. 31, 1953.
If an asset is constructed, reconstruct- ed, or erected by the taxpayer, so much of the basis of the asset as is attributable to construction, reconstruction, or erec- tion after December 31, 1953, may be depreciated under methods proper be- fore that date; or, it may be depreciated under any of the followjng methods pro- vided that the asset meets qualifications (1) and (2) above.
(a) Declining balance method. — This method may be used with a rate not in
e59 — X6— 74558-1
104
14
FACSIMILES OF TAX RETURNS, 1958 INSTRUCTIONS FOR PAGE 4 OF FORM 1040— Continued
excess of twice the applicable straight- line rate.
(b) Sum of the years-digit method. — The deduction for each year is com- puted by multiplying the cost or other basis of the asset (reduced by estimated salvage value) by the number of years of useful life remaining (including the year for which the deduction is com- puted) and dividing the product by the sum of all the digits corresponding to the years of the estimated useful life of the asset. In the case of a 5-year life this sum would be 15 (5 + 4 + 3 + 2 + 1). For the first year five-fifteenths of the cost reduced by estimated salvage value would be allowable, for the second year four-fifteenths, etc.
(c) Other methods. — A taxpayer may use any consistent method which does not result in accumulated allowances at the end of any year greater than the total of the accumulated allowances which would have resulted from the use of the declining balance method. This limitation applies only during the first two-thirds of the property's useful life.
Additional First Year Depreciation For
Small Business. — Taxpayers (not includ- ing trusts) may elect to write off in the year of acquisition 20 percent of the cost of tangible personal property having an aggregate value of not more than $10,000 ($20,000 on a joint return) acquired by purchase for use in a trade or business or to be held for the produc- tion of income. The additional depre- ciation is limited to property acquired after December 31, 1957, with a re- maining useful life of 6 years or more and which is not acquired from a per- son (other than a brother or sister) whose relationship to the taxpayer would result in the disallowance of losses. In regard to the remaining cost of the property, depreciation may be taken in the same manner as explained above beginning with the year of acquisition. SCHEDULE J— DIVIDENDS RECEIVED
CREDIT
The law provides a credit against tax for dividends received from qualifying domestic corporations. This credit is equal to 4 percent of such dividends in excess of those which you may exclude from your gross income (see page 1 1 of this pamphlet). The credit may not exceed the lesser of:
(a) the total income tax reduced by the foreign tax credit; or
(b) 4 percent of the taxable income. SCHEDULE K— RETIREMENT INCOME
CREDIT
You may qualify for this credit which is generally 20 percent of retirement in- come if you received earned income in
excess of $600 in each of any 10 calendar years — not necessarily consecutive — be- fore the beginning of your taxable year.
The term "earned income" means wages, salaries, or professional fees, and other amounts received as compensation for personal services actually rendered. It does not include any amount received as an annuity or pension. If you were engaged in a trade or business in which both personal services and capital were material income-producing factors, a reasonable allowance as compensation for the personal services rendered by you, not in excess of 30% of your share of the net profits of such trade or busi- ness, shall be considered as earned income.
If you are a surviving widow (wid- ower) and. have not remarried, you may use the earned income of your deceased husband (wife), or you may combine such income with your earned income, for the purpose of determining whether you qualify. If a husband and wife both qualify and each has retirement in- come, each is entitled to the credit.
Retirement income for the purpose of the credit means —
(a) In the case of an individual who is not 65 years of age before the close of his taxable year, only that income received from pensions and annuities under a public retirement system (one established by the Federal Government, a State, county, city, etc.) which is included in gross income in his return.
(b) In the case of an individual who is 65 years of age or over before the close of his taxable year, income from pensions, annuities, interest, rents, and dividends, which are included in gross income in his return. (Gross income from rents for this purpose means gross receipts from rents without reduction for depreciation or any other expenses. Royalties are not considered rents for this computation.)
The amount of the retirement income used for the credit computation may not exceed $1,200 reduced by:
(a) any amount received and exclud- ed from gross income as a pension or annuity under the Social Security Act and Railroad Retirement Acts and by other ta.x-exempt pensions or annuities. This reduction does not include ( 1 ) that part of a pension or annuity which is ex- cluded from gross income because it represents, in effect, a return of capital or tax-free proceeds of a like nature, or (2) amounts excluded from gross in- come which are received as compensa- tion for injuries or sickness or under accident or health plans; and
(b) in the case of any individual who
is not 65 before the close of the taxable year, any amount of earned income in excess of $900 received in the taxable year; and in the case of an individual who is 65 or over but who is not 72 before the close of the taxable year, any amount of earned income in excess of $1,200 received in the ta.xable year (neither of these limitations applies to an individual who is 72 or over at the close of the year) .
1959 DECLARATIONS OF ESTIMATED TAX Who Must File. — For many taxpayers the withholding tax on wages is not suf- ficient to keep them paid up on their income tax. The law requires every citizen or resident of the United States to file a Declaration of Estimated In- come Ta.x, Form 1040-ES, and to make quarterly payments in advance of filing the annual income ta.x return if: (a) his gross income can reasonably be expected to consist of wages subject to withholding and of not more than $100 from other sources, and to exceed — ■
( 1 ) $ 1 0,000 for a head of a household or a widow or widower entitled to the special tax rates;
(2) $5,000 for other single indi- viduals ;
(3) $5,000 for a married individual not entitled to file a joint declaraiion;
(4) $5,000 for a married individual entitled to file a joint declaration, and the combined income of both husband and wife can reasonably be expected to exceed $10,000; OR
(h) his gross income can reasonably be expected to include more than $100 from sources other than wages subject to withholding and to exceed the sum of:
( 1 ) $600 for each of his exemptions plus
(2) $400.
The Internal Revenue Service will mail Form 1040-ES, as far as is prac- ticable, to each person who may need it. Others required to file should obtain the form from any Internal Revenue Serv- ice office in time to file by April 15, 1959. Farmers may postpone filing their 1959 declarations until January 15, 1960.
Additional Charge for Underpayment of Esti- mated Tax. — It is important that you estimate your tax carefully. It will avoid the difficulties of paying a large balance with your final return.
Furthermore, there is an additional charge imposed by law for underpay- ment of any installment of estimated tax. Details of this additional charge, and exceptions to it, are printed on Form 1040-ES and Form 2210. If you had an underpayment and believe one of the exceptions applies, attach a state- ment or Form 2210 to your return.
o69—ia— 74658-1
FACSIMILES OF TAX RETURNS, 1958
105 15
TAX COMPUTATION.— Page 2, Form 1040
If you do not use the Tax Table on page 16, then figure your tax on amount on line 5, page 2 of your return, by using appropriate tax rate schedule on this page.
Schedule I applies to (1) single taxpayers who do not qualify for the special rates for "Head of Household" or for "Widow or Widower," and (2) married taxpayers filing sep- arate returns.
Schedule II applies to married taxpayers filing joint returns, and to widows or widowers who qualify for the special rates. It provides the split-income benefits.
Schedule III applies to unmarried (or legally separated) taxpayers who qualify as "Head of Household."
LINE 8(a)— Credit For Foreign Income Taxes
If you itemize your deductions and claim credit for foreign income taxes, you should submit with your return Form 1116 which contains a schedule for the computation of the credit with appropriate instructions. This form may be obtained from your Internal Revenue Service office.
LINE 8(b)— Credit For Partially Tax-Exempt Interest
If you itemize your deductions, you may deduct on line 8(b), page 2 of your return, a credit for partially tax-exempt interest. This credit is 3 percent of the partially tax-exempt interest included in gross income. The credit may not exceed the lesser of (a) 3 percent of taxable income (line 5, page 2, Form 1040) for taxable year or (b) the amount of tax less the credit for income taxes paid to foreign countries and posses- sions of U. S. and the credit for di\idends received.
Schedule I. (A) SINGLE TAXPAYERS who do not qualify for rates in Schedules II and III, and (B) married persons filing separate returns
If the amount on
line 5, page 2, is: Enter on line 6, page 2:
Not over $2,000 20% of the amount on line 5.
Oier— B:,t not ortr— of excess over —
$2,000 —$4,000 $400, plus 22% —$2,000
$4,000 — $6,000 $840, plus 26% — $4,000
$6,000 — $8,000 $1,360, plus 30% — $6,000
$8,000 —$10,000 $1,960, plus 34% —$8,000
$10,000 —$12,000 $2,640, plus 38% —$10,000
$12,000 —$14,000 $3,400, plus 43% —$12,000
$14,000 —$16,000 $4,260, plus 47% —$14,000
$16,000 —$18,000 $5,200, plus 50% —$16,000
$18,000 —$20,000 $6,200, plus 53% —$18,000
$20,000 —$22,000 $7,260, plus 56% —$20,000
$22,000 —$26,000 $8,380, plus 59% —$22,000
$26,000 — $32,000 $10,740, plus 62% — $26,000
$32,000 —$38,000 $14,460, plus 65% —$32,000
$38,000 —$44,000 $18,360, plus 69% —$38,000
$44,000 —$50,000 $22,500, plus 72% —$44,000
$50,000 —$60,000 $26,820, plus 75% —$50,000
$60,000 —$70,000 $34,320, plus 78% —$60,000
$70,000 —$80,000 $42,120, plus 81% —$70,000
$80,000 —$90,000 $50,220, plus 84% —$80,000
$90,000 —$100,000 $58,620, plus 87% —$90,000
$100,000 — $150,000 $67,320, plus 89% — $100,000
$150,000 — $200,000 $111,820, plus 90% — $150,000
$200,000 $156,820, plus 91% — $200,000
Schedule III. Unmarried (or legally separated) taxpayers who qualify as HEAD OF HOUSEHOLD.
// the amount on
line 5, page 2, is: Enter on line 6, page 2:
Not over $2,000 20% of the amount on line 5.
Oifr— Bril not oier — of excel! over—
$2,000 — $4,000 $400, plus 21% — $2,000
$4,000 —$6,000 $820, plus 24% —$4,000
$6,000 — $8,000 $1,300, plus 26% — $6,000
$8,000 —$10,000 $1,820, plus 30% —$8,000
$10,000 —$12,000 $2,420, plus 32% —$10,000
$12,000 —$14,000 $3,060, plus 36% —$12,000
$14,000 —$16,000 $3,780, plus 39% —$14,000
$16,000 —$18,000 $4,560, plus 42% —$16,000
$18,000 —$20,000 $5,400, plus 43% —$18,000
$20,000 —$22,000 $6,260, plus 47% —$20,000
$22,000 — $24,000 $7,200, plus 49% — $22,000
$24,000 —$28,000 $8,180, plus 52% —$24,000
$28,000 —$32,000 $10,260, plus 54% —$28,000
$32,000 —$38,000 $12,420, plus 58% —$32,000
$38,000 —$44,000 $15,900, plus 62% —$38,000
$44,000 —$50,000 $19,620, plus 66% —$44,000
$50,000 — $60,000 $23,580, plus 68% — $50,000
$60,000 —$70,000 $30,380, plus 71% —$60,000
$70,000 —$80,000 $37,480, plus 74% —$70,000
$80,000 —$90,000 $44,880, plus 76% —$80,000
$90,000 —$100,000 $52,480, plus 80% —$90,000
$100,000 — $150,000 $60,480, plus 83% —$100,000
$150,000 — $200,000 $101,980, plus 87% — $150,000
$200,000 — $300,000 $145,480, plus 90% — $200,000
$300,000 $235,480, plus 91% — $300,000
oSU— 10 — 74668-1
Schedule II. (A) MARRIED TAXPAYERS filing joint returns, and (B)
certain widows and widowers. (See page 8 of these instructions)
If the amount on
line 5, page 2, is: Enter on line 6, page 2:
Not over $4,000 20% of the amount on line 5.
Oiei — But not over — o/ excess over —
$4,000 — $8,000 $800, plus 22% — $4,000
$8,000 —$12,000 $1,680, plus 26% —$8,000
$12,000 — $16,000 $2,720, plus 30% — $12,000
$16,000 —$20,000 $3,920, plus 34% —$16,000
$20,000 —$24,000 $5,280, plus 38% —$20,000
$24,000 —$28,000 $6,800, plus 43% —$24,000
$28,000 —$32,000 $8,520, plus 47% —$28,000
$32,000 —$36,000 $10,400, plus 50% —$32,000
$36,000 — $40,000. . . ■ $12,400, plus 53% — $36,000
$40,000 — $44,000 $14,520, plus 56% — $40,000
$44,000 — $52,000 $16,760, plus 59% — $44,000
$52,000 —$64,000 ... $21,480, plus 62% —$52,000
$64,000 — $76,000 $28,920, plus 65% — $64,000
$76,000 —$88,000 $36,720, plus 69% —$76,000
$88,000 —$100,000 $45,000, plus 72% —$88,000
$100,000 — $120,000 $53,640, plus 75% — $100,000
$120,000 — $140,000 $68,640, plus 78% — $120,000
$140,000 — $160,000 $84,240, plus 81% —$140,000
$160,000 — $180,000 $100,440, plus 84% — $160,000
$180,000 — $200,000 $117,240, plus 87% — $180,000
$200,000 — $300,000 $134,640, plus 89% — $200,000
$300,000 — $400,000 $223,640, plus 90% — $300,000
$400,000 $313,640, plus 91% — $400,000
106
FACSIMILES OF TAX RETURNS, 1958
TAX TABLE FOR CALENDAR YEAR 1958 FOR PERSONS WITH INCOMES UNDER $5,000 NOT COMPUTING TAX ON PAGE 2 OF FORM 1040
Read down the income columns below until you Rnd the line covering the adjusted gross income you entered on line 11, page 1, Form 1040. Then read across to the appropriate column headed by the number corresponding to the number ol exemptions claimed on line 4, page 1. Enter the tax you find there on line 12, page 1.
If total income on line U. page 1, is— |
And the number of exemptions If total income on claimed on line 4, page 1, is— line 11, page 1, is— |
And the number of exemptions claimed on line 4. page 1. is— |
|||||||||||
1 |
mm \ ' II more' W^i At least there is no tax xM |
But less than $2, 350 2,375 |
1 And you are- |
2 And )fou are- |
3 And you are- |
4 |
5 |
6 |
7 |
||||
At least |
But less than |
Single ! or a 1 An un- married' married person \ head o( filing ia house- sepa- i hold rately I |
Single 1 ': (*) ot a 1 An un- ; A married ; married ; married person • head of ; couple filing ;a house-; filing sepa- [ hold ; jointly rately ; I |
Single married person filing sepa- rately |
i (*) Anun-i A married; married head of ; couple a house-; filing hold 1 jointly |
If 8 or more there is no tax |
|||||||
Your tax is— |
Your tax is— |
||||||||||||
$0 675 |
$675 700 |
$0 i $0 SO $2,325 4 ; 0,0 2,350 |
$301 i$301 305 : 305 |
$181 i$181 ;$181 185 i 185 i 185 |
$61 65 |
$61 i $61 65 i 65 |
$0 0 |
$0 0 |
$0 0 |
$0 0 |
|||
700 725 750 775 |
725 750 775 800 |
8 13 17 22 |
0 0 0 0 |
0 2, 375 0 2, 400 0 2,425 0 2. 450 |
2,400 2,425 2,450 2.475 |
310 ; 310 314 ; 314 319 i 319 323 i 323 |
190 i 190 ; 190 194 i 194 i 194 199 : 199 : 199 203 1 203 ! 203 |
70 74 79 83 |
70 ; 70 74 ; 74 79 ; 79 83 1 83 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
800 825 850 875 |
825 850 875 900 |
26 31 35 40 |
0 0 0 0 |
0 2, 475 0 2, 500 0 2, 525 0 2, 550 |
2.500 2,525 2,550 2,575 |
328 i 328 332 i 332 337 1 337 341 i 341 |
208 : 208 : 208 212 i 212 ; 212 217 i 217 ; 217 221 : 221 : 221 |
88 92 97 101 |
88 i 88 92 i 92 97 ; 97 101 : 101 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
900 925 950 975 |
925 950 975 1,000 |
44 49 63 58 |
0 0 0 0 |
0 2, 575 0 2, 600 0 2, 625 0 2, 650 |
2,600 2.625 2,650 2,675 |
346 i 346 350 i 350 355 i 355 359 1 359 |
226 I 226 ; 226 230 : 230 ; 230 235 i 235 i 235 239 ! 239 ! 239 |
106 110 115 119 |
106 i 106 110,; 110 115 1 115 119 j 119 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
1,000 1.025 1,050 1,075 |
1,025 1,050 1,075 1, 100 |
62 67 71 76 |
0 0 0 0 |
0 2, 675 0 2, 700 0 2, 725 0 2,750 |
2,700 2, 725 2,750 2,775 |
364 i 364 368 ! 368 373 i 373 377 i 377 |
244 ! 244 ; 244 248 i 248 i 248 253 i 253 : 253 257 ; 257 ■ 257 |
124 128 133 137 |
124 ! 124 128 ; 128 133 1 133 137 ; 137 |
4 8 13 17 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
1,100 1,125 1, 150 1, 175 |
1, 125 1,150 1, 175 1,200 |
80 85 89 94 |
0 0 2,775 0 0 2,800 0 0 2, 825 0 0 , 2,850 |
2,800 2,825 2,850 2,875 |
382 ! 382 386 ; 386 391 : 391 395 : 395 |
262 ; 262 1 262 266 i 266 '; 266 271 i 271 ; 271 275 1 275 1 275 |
142 146 151 155 |
142 i 142 146 1 146 151 i 151 155 i 155 |
22 26 31 35 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
|
1,200 1,225 1,250 1,275 |
1,225 1,250 1,275 1,300 |
98 103 107 112 |
0 0 , ;:j 2,875 0 0 1 2,900 0 I 0 ; "i 2,925 0 1 0 ;« 2,950 |
2,900 2,925 2,950 2, 975 |
400 : 400 405 i 404 410 : 409 415 : 414 |
280 ; 280 i 280 284 ; 284 ; 284 289 : 289 i 289 293 : 293 ■ 293 |
160 164 169 173 |
160 ; 160 164 ; 164 169 ! 169 173 i 173 |
40 44 49 53 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
|
1,300 1,325 1,350 1,375 |
1,325 1,350 1,375 1,400 |
116 121 125 130 |
0 1 5 10 |
0 2, 975 0 3, 000 0 3, 050 0 3, 100 |
3,000 3,050 3, 100 3, 150 |
420 i 419 427 1 426 437 ; 435 447 i 445 |
298 i 298 i 298 305 ; 305 i 305 314 : 314 ; 314 323 ; 323 i 323 |
178 185 194 203 |
178 : 178 185 ; 185 194 ; 194 203 ; 203 |
58 65 74 83 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
1,400 1,425 1,450 1,475 |
1,425 1,450 1, 475 1, 500 |
134 14 0 3, 150 139 19 0 3,200 143 23 0 3,250 148 28 0 3,300 |
3,200 3,250 3,300 3,350 |
457 ! 454 467 ; 464 476 C 473 486 ; 482 |
332 ; 332 : 332 341 i 341 ; 341 350 ; 350 ■ 350 359 : 359 : 359 |
212 221 230 239 |
212 ! 212 221 i 221 230 ; 230 239 ; 239 |
92 101 110 119 |
0 0 0 0 |
0 0 0 0 |
0 0 0 0 |
||
1,500 1,525 1,550 1,575 |
1,525 1,550 1,575 1,600 |
152 157 161 166 |
32 37 41 46 |
0 3, 350 0 3, 400 0 3, 450 0 3, 500 |
3,400 3,450 3,500 3,550 |
496 : 492 506 1 501 516 ; 511 526 j 520 |
368 i 368 ; 368 377 : 377 ; 377 386 i 386 i 386 395 j 395 ; 395 |
248 257 266 275 |
248 ; 248 257 ; 257 266 1 266 275 i 275 |
128 137 146 155 |
8 17 26 35 |
0 0 0 0 |
0 0 0 0 |
1,600 1,625 1,650 1,675 |
1,625 1, 650 1,675 1,700 |
170 175 179 184 |
50 55 59 64 |
0 3, 550 0 3, 600 0 3, 650 0 3, 700 |
3,600 3,650 3,700 3,750 |
536 ; 530 546 ; 539 556 ! 549 566 : 558 |
404 I 404 ; 404 414 ; 413 ; 413 424 : 423 ; 422 434 ; 432 i 431 |
284 293 302 311 |
284 : 284 293 i 293 302 ; 302 311 : 311 |
164 173 182 191 |
44 53 62 71 |
0 0 0 0 |
0 0 0 0 |
1,700 1,725 1,750 1,775 |
1,725 1,750 1,775 1,800 |
188 193 197 202 |
68 73 77 82 |
0 3, 750 0 3,800 0 3, 850 0 3, 900 |
3,800 3,850 3,900 3,950 |
575 : 567 585 i 577 595 ; 586 605 ; 596 |
443 : 441 : 440 453 : 451 ; 449 463 : 460 ; 458 473 i 470 : 467 |
320 329 338 347 |
320 1 320 329 ; 329 338 ; 338 347 j 347 |
200 209 218 227 |
80 89 98 107 |
0 0 0 0 |
0 0 0 0 |
1,800 1,825 1,850 1,875 |
•1, 825 1,850 1,875 1,900 |
206 211 215 220 |
86 91 95 100 |
0 3, 950 0 .4,000 0 4, 050 0 ^ 4, 100 |
4,000 4,050 4, 100 4, 150 |
615 1 605 625 : 615 635 i 624 645 ; 634 |
483 ; 479 ; 476 493 ; 489 : 485 503 1 498 ; 494 513 ; 508 i 503 |
356 365 374 383 |
356 ; 356 365 '; 365 374 : 374 383 '; 383 |
236 245 254 263 |
116 125 134 143 |
0 5 14 23 |
0 0 0 0 |
1,900 1,925 1,950 1.975 |
1,925 1,950 1,975 2,000 |
224 229 233 238 |
104 109 113 118 |
0 4, 150 0 ' 4, 200 0^4, 250 0 4,300 |
4,200 4,250 4,300 4,350 |
655 1 643 665 i 653 674 ; 662 684 : 671 |
523 i 517 ; 512 533 ; 527 ; 521 542 ; 536 ; 530 552 ; 545 j 539 |
392 401 410 420 |
392 i 392 401 i 401 410 ; 410 419 1 419 |
272 281 290 299 |
152 161 170 179 |
32 41 50 59 |
0 0 0 0 |
2,000 2,025 2,050 2,075 |
2,025 2,050 2,075 1 2, 100 |
242 247 251 256 |
122 127 131 136 |
2 4, 350 7 4, 400 11' 4, 450 16 4,500 |
4,400 4,450 4,500 4,550 |
694 : 681 704 i 690 714 i 700 724 : 709 |
562 ; 555 ; 548 572 ; 564 ; 557 582 i 574 ; 566 592 ! 583 : 575 |
430 440 450 460 |
429 ; 428 438 1 437 448 ; 446 457 : 455 |
308 317 326 335 |
188 197 206 215 |
68 77 86 95 |
0 0 0 0 |
2,100 2,125 2,150 2,175 |
! 2, 125 2,150 2, 175 2,200 |
260 265 269 274 |
140 20 4, 550 145 25 4,600 149 29 4, 650 154 34 4,700 |
4,600 4,650 I 4,700 4,750 |
734 ; 719 744 : 728 754 : 738 764 i 747 |
602 i 593 i 584 612 1 602 ; 593 622 ; 612 ; 602 632 j 621 ; 611 |
470 480 490 500 |
467 ; 464 476 i 473 486 ; 482 495 j 491 |
344 353 362 371 |
224 233 242 251 |
104 113 122 131 |
0 0 2 11 |
|
2,200 2,225 2.250 2,275 |
2,225 2,250 2,275 2.300 |
278 283 287 292 |
158 163 167 172 |
38 ra 4.750 , 4,800 43 II 4,800 4,850 47 r 1 4, 850 4, 900 52 h'i 4, 900 4, 950 |
773 i 756 783 i 766 793 i 775 803 : 785 |
641 ; 630 : 620 651 i 640 i 629 661 ; 649 : 638 671 ; 659 ; 647 |
509 519 529 539 |
504 ; 500 514 ; 509 523 i 518 533 : 527 |
380 389 398 407 |
260 269 278 287 |
140 149 158 167 |
20 29 38 47 |
|
2,300 1 2,325 |
296 |
176 56 . 4,950 5,000 |
813 : 794 |
681 i 668 ; 656 |
549 |
542 ; 536 |
416 |
296 |
176 |
56 |
|||
16 ( |
:ti^Thiacol |
iimo mmj i |
IsobeuM |
d b/ * widow or widowei |
wllhdeper |
dent child who |
meets certain qualiflcatio net C69-16— 74S58-1 |
ns whic |
li are explained o |
n|>a£G8 |
of these |
InalrucI |
on*. |
FACSIMILES OF TAX RETURNS. 1958
107
SCHEDULE C (Form 1040)
U. S. Treasury Department — Internal Revenue Service
PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION
(Compute Social Security Self-Employment Tax on Page 3)
1958
Attach this schedule to your Income Tax Return, Form 1040 — Partnerships, Joint Ventures, Etc., Must File On Form 106S
For Calendar Year 1958, or other taxable year beginning
, 1958, and ending
, 195
Name as shown on page 1, Form 1040
If you had more than one business, or husband and wife had separate businesses, a separate page 1 of Schedule C must be completed for each business.
A. Principal business activity:
(See instructions, page 2)
(Retail trade, wholesale trade, lawyer, etc.)
(Principal product or service)
B. Business name: ...
C. Business location:
(Number and street (
(City or psost office)
(County)
D. Did you file an Employer Quarterly Tax Return, Form 941, for any quarter of 1958? CH Yes C] No. E. Employer's Identification
Number,ifany F. Is this business within the legal boundaries of a municipality? I I Yes I I No.
6. Did you own this business on December 31, 1958? CH Yes □ No. H. How many months in 1958 did you own this business?
1. 2. 3.
4. 5.
6.
7. 8. 9. 10.
11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23.
Total receipts $ , less allowances, rebates, and returns $.
Inventory at beginning of year
Merchandise purchased $ , less any items withdrawn
from business for personal use $_
Cost of labor (do not include salary paid to yourself)
Material and supplies
Other costs (explain in Schedule C-2)
Total of lines 2 through 6
Inventory at end of year
Cost o£ goods sold (line 7 less line 8)
Gross profit (line 1 less line 9)
OTHER BUSINESS DEDUCTIONS
Salaries and wages not included on line 4 (exclude any paid to yourselO . . • ■ $-
Rent on business property
Interest on business indebtedness
Taxes on business and business property
Losses of business property (attach statement)
Bad debts arising from sales or services
Depreciation (explain in Schedule C-1)
Repairs (explain in Schedule C-2)
Depletion of mines, oil and gas wells, timber, etc. (attach schedule)
Amortization (attach statement)
Other business expenses (explain in Schedule C-2)
Total of lines 1 1 through 21
Net profit (or loss) (line 10 less line 22). Enter here; on line 24, page 3; and on line 8, pagel. Form 1040.
Schedule C-1. EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED ON LINE 17 |
||||||
1 . Kind of properly (if buildings, slate material o( wtiicti constructed). Exclude land and ottier nondepreciable property |
2. Date acquired |
3. Cost or other basis |
4. Depreciation al- lowed (or allowable) in prior years |
5. Method of com. puting depreciation |
6. Rate(%) or life (years) |
7. Depreciation for this year |
$ — |
. $ |
$ |
||||
Schedule C-2. EXPLANATION OF LINES 6, 18, AND 21 |
||||||
Line No. |
Explanation |
Amount |
Line No. |
Explanation | Amount |
||
$ |
$ |
|||||
108
FACSIMILES OF TAX RETURNS, 1958
INSTRUCTIONS
Page 2
If you owned a business, or practiced a profession, you must fill in separate Schedule C on other side and enter the net profit (or loss) on line 8, page 1, Form 1040.
Separate Schedule C should include income from (1) sale of merchandise, or products of manufacturing, mining, and construc- tion; (2) business service; and (3) professional service. In general, you should report any income in the earning of which you have incurred expenses for material, labor, supplies, and the like.
All farmers should use separate Schedule? (Form 1040) to report their form income whether reporting on the cash or accrual method.
Income from any trade or business is subject to the social security self-employment tax, unless specifically excluded. See page 4.
Item A — Business Activity. — State the general classification of business activity, as well as the principal product or service. For example, "Wholesale food," "Retail men's apparel," "Manufac- ture of upholstered wooden household furniture," "Transportation by truck," "Broker, real estate," "Contractor — carpenter work," "Physician," etc. Do not use such terms as "partnership," "owner," "student," etc. The "principal business activity" is the one which accounts for the largest percentage of your total receipts.
Item C — Business Location. — Do not use home address as business address unless business is actually conducted from home. Enter street address rather than box numbers.
Line 1 — Total Receipts. — Include all income derived from your trade or business. Enter in the space provided such items as re- turned sales, rebates, and allowances from the sale price or service charge.
If you have dividend income from stocks held by you in the ordinary course of carrying on your trade or business, such dividends must be considered together with your dividends from stocks regu- larly held for investment purposes in computing your dividend exclusion and credit on pages 3 and 4, Form 1040.
Installment Sales. — If you use the installment method of report- ing income from sales, you must attach to your return a schedule showing separately for the years 1955, 1956, 1957, and 1958 the following: (a) Gross sales; (b) cost of goods sold; (c) gross profits; (d) percentage of profits to gross sales; (e) amounts collected; and (t) gross profits on amounts collected.
COST OF GOODS SOLD
Lines 2-9. — If you are engaged in a trade or a business in which the production, purchase, or sale of merchandise is an income producing factor, you must take inventories of merchandise and materials on hand at the beginning and end of the taxable year in order to reflect the gross profits correctly. The usual methods of valuing inventory are (a) cost or (b) cost or market whichever is lower. The method properly adopted for the first year in which inven- tory is taken must be continued unless permission to change is se- cured from the Commissioner of Internal Revenue, Washington 25, D. C. Application for permission to change the method of valuing inventories must be made in writing and filed with the Commissioner within 90 days after the beginning of the taxable year in which it is desired to effect a change. You should enter the letters "C" or "C or M" immediately before the amount column if inventories are valued either at cost, or at cost or market whichever is lower.
Other methods of valuing inventories of material or merchandise are provided for dealers in securities, for farmers, for miners, for manufacturers who produce more than one product from a single process, and for retail merchants using the "retail method."
A special method based on cost, LIFO, is allowable only if you file an application on Form 970 with your return for the first year used. The reguirements for adopting and using the LIFO method are set forth on Form 970. Thereafter, you must attach a separate schedule showing: (a) a summary of all inventories; (b) with respect to inventories computed under the LIFO method, the computation of quantities and cost by acquisition levels.
OTHER BUSINESS DEDUCTIONS
Line 11 — Salaries and Wages. — Enter all salaries and wages not included as "Cost of Labor" in "Cost of Goods Sold." Do not deduct any salary or wages for your own services or services of others not performed in connection with your business.
Line 12 — Rent on Business Properly. — Rents paid or accrued on business property in which you have no equity are deductible. Do not include rent for a building, or any part thereof, which you occupy solely for residential purposes.
Line 13 — Interest on Business Indebtedness. — Interest on business indebtedness to others is deductible. Do not include interest to yourself on capital invested in or advanced to the business.
Line 14 — Taxes on Business and Business Property. — Include taxes paid or accrued on business property or incurred in carrying on your business. Federal import duties and Federal excise and stamp taxes are deductible if paid or incurred in carrying on a trade or business. Do not include taxes assessed against local benefits of a kind tending to increase the value of the property assessed, as for paving, sewers, front foot benefits, etc.
Line 15 — Losses of Business Property. — You may deduct losses of business property by fire, storm, or other casualty, or theft, to the extent not compensated by insurance or otherwise and not made good by repairs claimed as a deduction. Attach a statement show- ing a description of the property, date acquired, cost, subsequent improvements, depreciation allowed or allowable since acquisition, insurance, salvage value, and deductible loss.
Line 16 — Bad Debts Arising From Sales or Services. — Include debts, or portions thereof, arising from sales or professional services that have been included in income, which have been definitely ascertained to be worthless; or such reasonable amount as has been added within the taxable year to a reserve for bad debts. A debt which is deducted as bad and which reduces your tax must, if subsequently collected, be returned as income for the year in which collected.
Line 17 — Depreciation and Obsolescence. — You may deduct a reasonable allowance for exhaustion, wear and tear, and obsolescence of property used in the trade or business. For additional information regarding depreciation, especially on new property acquired or constructed after December 31, 1953, see depreciation section in the instructions for Form 1040.
If a deduction is claimed on account of depreciation, fill in Sched- ule C-1. In case obsolescence is included, state separately amount claimed and basis upon which it is computed. The value or cost of land must not be included in this schedule, and where land and buildings were purchased for a lump sum, the cost of the building subject to depreciation must be established. The adjusted prop- erty accounts and the accumulated depreciation shown in the schedule should be reconciled with those accounts as reflected on your books.
Line 18 — Repairs. — You may deduct the cost of incidental
repairs, including labor, supplies, and other items, which do not add to the value or appreciably prolong the life of the property. Expenditures for new buildings, machinery, and equipment, or for permanent improvements or ijetterments which increase the value of the property are chargeable to capital accounts. Expenditures for restoring or replacing property are not deductible, since such expenditures are chargeable to capital accounts or to depreciation reserve depending on how depreciation is charged on your books.
Line 19 — Depletion of Mines, Oil and Gas Wells, Timber, Etc. — If a deducKon is claimed on account of depletion, procure from your District Director Form M (mines and other natural deposits). Form O (oil and gas), or Form T (timber), fill in and file with return. If complete valuation data have been filed with question- naire in previous years, then file with your return information necessary to bring depletion schedule up to date, setting forth in full a statement of all transactions bearing on deductions from or additions to value of physical assets during the taxable year with explanation of how depletion deduction for the taxable year has been determined. (See sections 615 and 616 of the Internal Rev- enue Code of 1954 for election to capitalize or deduct expendi- tures for exploration and development of mineral properties.)
Line 20 — Amortization. — If you elect the deduction with respect to the amortization of the adjusted basis of (a) any emergency facility with respect to which the Government has issued a certificate of necessity, or (b) a grain storage facility, a statement of the perti- nent facts should be filed with your return. (See sections 168 and 169 of the Internal Revenue Code of 1954.)
For the election to amortize research or experimental expenditures not subject to depreciation or depletion, see section 174 of the Code.
For the election to amortize trademark or trade name expendi- tures, see section 177 of the Code.
Line 21 — Other Business Expenses. — Include all ordinary and necessary business expenses for which no space is provided in the schedule. Any deduction claimed should be explained in Schedule C-2. Do not include cost of business equipment or furniture, expenditures for replacements, or for permanent improve- ments to property, or personal living and family expenses.
Net Operating Loss Deduction. — Any net operating loss deduction should be applied as an adjustment of the amount entered on line 11, page 1, Form 1040. See instructions for Form 1040 and submit computation. o«— 16—74556-1
FACSIMILES OF TAX RETURNS, 1958
109 Pages
COMPUTATION OF SOCIAL SECURITY SELF-EMPLOYMENT TAX (See Instructions — Page 4)
► I£ you had wages o£ $4,200 or more which were subject to the deduction for social security, do not fill in this page.
► Complete only one page 3; if you had more than one business, combine profits (or losses) from all of your businesses on this page.
► Each self-employed person must file a separate schedule. See instructions, page 4, for joint returns and partnerships. NAME OF SELF-EMPLOYED PERSON (as shown on social securily card)
24. Net profit (or loss) shown on line 23, page 1 (Enter combined amount if more than one business)
25. Add to net profit (orsubtrocl from net loss) losses of business property shown on line
15, page 1
26. Total (or difference)
28
30.
31.
27. Net income (or loss) from excluded services or sources included on line 26 (See "Exclusions," page 4) . Specify excluded services or sources _
Net earnings (or loss) from self-employment —
(a) From business (line 26 less any amount on line 27)
(b) From partnerships, joint ventures, etc. (other than farming)
(c) From service as a minister, member of a religious order, or o Christian Science practitioner
Enter only if you elect Social Security coverage by filing Form 2031 (See instructions, page 4).
(d) From farming reported on line 12 or 13, separate Schedule F (Form 1040)
29. Total net earnings (or loss) from self-employment reported on line 28. Enter here and on line 6 below . . . . (If line 29 is under $400, you are not subject to self-employi-iont tax. Do not fill in rest of page.)
The largest amount subject to social security self-employment tax is
($4,800 for years ending after December 31, 1958)
Less: Total wages, subject to deduction for social security, paid to you during the taxable year. (For wages reported on Form W-2, see "F. I. C. A. Wages" box.) Enter here and on line 7, below
4,200
00
32. Balance (line 30 less line 31)
33. Self -employment income — line 29 or 32, whichever is smaller. Enter here and on line 8, below
34. Self-employment tax — take 3%% °' the amount on line 33. (You can do this by multiplying the amount
on line 33 by .03375.) Enter this amount here and on line 15, page 1, Form 1040
Important. — The amounts reported on the form below are for your social security account. This account is used in figuring any benefits, based on your earnings, payable to you, your dependents, and your survivors. Fill in each item accurately and completely, but do not detach.
SCHEDULE SE (Farm 1040) U. S. Treasury Department Internal Revenue Service
U. S. REPORT OF SELF-EMPLOYMENT INCOME
For Crediting to Your Social Security Account
1958
Indicate year covered by this return (even though income was received only in part of year): 1_ n Calendar year 1958 D Other taxable year beginning 1958. ending
If less than 12 months, was short year due to (a) O Death, or (b) EH Change in accounting period, or (c) D Other.
BUSINESS ACTIVITIES SUBJECT TO SELF-EMPLOYMENT TAX (Grocery Store, Resta
nt, etc.)
BUSINESS ADDRESS (Number and Street, City or Post Office, Postal Zone Number, State)
SOCIAL SECURITY ACCOUNT NUMBER ' OF PERSON NAMED IN ITEM 5 BELOV^
PRINT OR TYPE NAME OF SELF-EMPLOYED PERSON AS SHOWN ON SOCIAL SECURITY CARD
PRINT OR TYPE HOME ADDRESS (Number and Street or Rurol Route)
(City or Post Office, Postal Zone Number. State)
ENTER TOTAL EARN- INGS FROM SELF-EM- 6. PLOYMENT SHOWN ON LINE 29 ABOVE. .
ENTER WAGES, IF
7. ANY, SHOWN ON
LINE 31 ABOVE...
ENTER AMOUNT 8. SHOWN ON LINE 33
048—16—74668-1
110
FACSIMILES OF TAX RETURNS, 1958
INSTRUCTIONS FOR SOCIAL SECURITY SELF-EMPLOYMENT TAX Page 4
In general, every individual deriving self-employment income during the taxable year of $400, or more, from a trade or business carried on by him or from a partnership of which he is a member is subject to the self -employment tax. This computation is made on lines 24 through 34. This tax must be paid regardless of age and even though the individual is receiving social security benefits.
Ministers, Members ol Religious Orders, and Christian Science Practitioners. — Duly ordained, commissioned, or licensed ministers of churches, members of religious orders (who have not taken a vow of poverty), and Chrishan Science practitioners are not automatically covered by the Social Security Act, but may elect to be covered by hling Form 2031. Copies are available in the office of any district director of Internal Revenue. The instruc- tions on the form set out the provisions of the law which permit these forms under certain conditions to be filed to cover ministers, and others mentioned above, retroactively to 1956 for social secu- rity purposes. If you wish to be covered, do not delay filing your income tax return beyond the due date even though you have not obtained a Form 2031. In such case, complete page three of this schedule, file it with Form 1040, and then hie Form 203 1 as promptly as possible to make your election. This also applies to persons who have assumed that by paying the self-employment tax as shown in Schedule C they were covered for social security purposes. If a Form 2031 was not filed, one should now be filed.
Ministers, and others mentioned atiove, who desire coverage shall, in addition to their other items of income for 1958 and sub- sequent years, include for the purpose of determining net earnings from self-employment (but not for income tax purposes) the rental value of a parsonage or allowance for the rental value of the par- sonage, and the value of meals and lodging furnished them for the convenience of their employers.
No deductions for personal exemptions. — The deductions for peisonal exemptions are not allowable in determining net earnings from self-employment.
Form income. — Farmers report farm income and net income from self -employment from farming on separate Schedule F (Form 1040). EXCLUSIONS
Income (or loss) from the following sources and deductions attrib- utable thereto are not taken into account in figuring net earnings from self-employmenl. Use line 27 to exclude any such amounts reported on page 1 that should not be taken into account in figuring your self-employment income.
Doctors o£ medicine. — Income from the performance of service as a doctor of medicine or income from the performance of such service by a partnership.
Christian Science practitioners. — Income from the perform- ance of service as a Christian Science practitioner, unless such Christian Science practitioner elects by filing Form 2031 to be covered by the Social Security Act, as explained above.
Religious services. — Income from the performance of service by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duhes required by such order, unless such minister or member of a religious order elects by filing Form 2031 to be covered by the Social Security Act, as explained above.
Employees and. public officials. — Income from the perform- ance of service as:
(a) a public official, including a notary public;
(b) an employee or employee representative under the railroad retirement system; or
(c) an employee.
Note. — The income of an employee over the age of 18 from the sale of newspapers or magazines to an ultimate consumer is subject to the self-employment tax if the income consists of retained profits from such sales. Real estate rentals. — Rentals from real estate, except rentals received in the course of a trade or business as a real estate dealer. This includes cash and crop shares received from a tenant or sharefarmer. These amounts should be reported in Schedule G of Form 1040. However, rental income from a farm is not excluded if the rental arrangement provides for material participation by the landlord and he does participate materially in the production or in the management of the production of farm products on his land- Such income represents farm earnings and should be reported on separate Schedule F (Form 1040).
Payments for the use or occupancy of rooms or other space where services are also rendered to the occupant, such as rooms m hctels. boarding houses, apartment houses furnishing hotel services, tourist camps, or homes, or space in parking lots, warehouses, or storage garages do not constitute rentals from real estate and are included in determining net earnings from self-employment on Schedule C.
Interest and dividends. — Dividends on shares of stock, and interest on bonds, debentures, notes, certificates, or other evidences of indebtedness, issued with interest coupons or in registered form
by a corporation, or by a government or political subdivision thereof, unless received in the course of a trade or business as a dealer in stocks or securities. These amounts should be reported in Schedules A and B of Form 1040.
Property gains and losses. — Gain or loss: (a) from the sale or exchange of a capital asset; (b) to which sections 631 and 1231 are applicable; or (c) from the sale, exchange, involuntary con- version, or other disposition of property if such property is neither (1) stock in trade or other property of a kind which would properly be includible in inventory if on hand at the close of the taxable year, nor (2) property held primarily tor sale to customers in the ordinary course of the trade or business. These amounts should be reported on separate Schedule D (Form 1040).
Net operating losses. — No deduction for net operating losses of other years shall be allowed in determining the net earnings from self-employment. Such deduction should be applied as an adjust- ment of the amount shown on line 11, page 1, of Form 1040. MORE THAN ONE TRADE OR BUSINESS
If an individual is engaged in more than one trade or business, his net earnings from self-employment are the combined net earn- ings from self-employment of all his trades or businesses. Thus, the loss sustained in one trade or business will operate to reduce the income derived from another trade or business. An individual shall fill in and file only one page 3 of this form, including Schedule SE, for any one year. JOINT RETURNS
Where husband and wife file a joint income tax return, page 3 of Schedule C (Form 1040) should show the name of the one with self- employment income. Where husband and wife each have self- employment income, a separate Schedule C must be attached for each. In such cases the total of amounts shown on line 23 of each separate schedule should be entered on line 8, page 1, Form 1040, and the aggregate self-employment tax (line 34) should be entered on line 15, page I, Form 1040. COMMUNITY INCOME
For the purpose of computing net earnings from self-employment, if any of the income from a trade or business is community income, all the income from such trade or business is considered the income of the husband unless the wife exercises substantially all the man- agement and control of the trade or business, in which case all of such income is considered the income of the wife. (Also see instruc- tions on Partnerships below.)
If separate income tax returns are filed by husband and wife, a complete Schedule C should be attached to the return of the one with self-employment income. Community income included on such a schedule must be allocated between the two returns (on line 8, page I, Form 1040) on the basis of the community property laws.
PARTNERSHIPS
In computing his combined net earnings from self-employment, a partner should include his entire shore of such earnings from a partnership including any guaranteed payments. No part of that share may be allocated to the partner's wife (or husband) even though the income may, under State law, be community income. In the case of a husband and wife partnership, like other partnerships, the distributive share of each should be entered in Schedule H, page 3 of Form 1040, for income tax purposes. For self-employment tax purposes the distributive share of each partner should be enter- ed on line 28(b), page 3, of this form (except that farm partnership earnings are to be reported on line 11(b), separate Schedule F (Form 1040) rather than on line 28(b) of this schedule).
Note: If a member of a continuing partnership dies after August 28, 1958, a pro rata share of the partnership's ordinary income (or loss) for its current year must be included in the partner's net earn- ings from self-employment.' The rule may also apply for deaths occurring after 1955 and before August 29, 1958. In such cases con- sult your nearest Internal Revenue Service office as to how to report.
SCHEDULE SE (Form 1040)
Schedule SE, which is the lower portion of page 3 of Schedule C, provides the Social Security Administration with the information on sell-employment income necessary for computing benefits.
To assure proper credit to your account, be sure to enter your name and social security account number on Schedule SE (Form 1040) exactly as they are shown on your social security card. If you do not have a social security account number, you must get one. These account numbers are obtainable from any Social Secu- rity district office. Your local post office will give you the address. Do not delay filing your return beyond the due date.
Regardless of whether joint or separate returns. Form 1040, aie filed by husband and wife. Schedule SE (Form 1040) must show only the name of the one with the self-employ- ment income. However, if both had net earnings from self- employment, a separate Schedule SE must be filed by each.
U. S- GOVERNMENT PRINTING OFFICE : 1958- 0-471467
c48— 16— 74556-1
FACSIMILES OF TAX RETURNS, 1958
111
SCHEDULE D (Form 1040)
U. S. Treasury Department — Intenial Revenue Service
GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY
Attach this schedule to your Income Tax Return, Form 1040
1958
For Calendar Year 19S8, or other taxable year beginning
, 1958. and ending
. 195
Nome and Address as shown on page 1 of Form 1040
(I) CAPITAL ASSETS
Short-Term Capital Gains and Losses — Assets Held Not More Than 6 Months |
|||||||
t. Kind of property (i( necessary, attach stale- ment of descriptive details not sfiown below) |
b. Date acquired (mo., day. yr.) |
c. Date sold (mo., day, yt.) |
d. Gross sales price (contract price) |
e. Depreciation allowed (or allowable) since acquisition or March 1, 1913 (attach schedule) |
f. Cost or other basis and cost of subsequent im- provements (if not purchased, attach explanation) |
g. Expense of sale |
h. Gain or loss (column d plus column e loss sum of columns f and s) |
1. _ - |
$ |
||||||
2. Enter your share of net short-term gain (or loss) from partnerships and fiduciaries |
|||||||
3. Enter unused capital loss carryover from 5 precedinq taxable years (Attach statement) |
|||||||
4. Net short-term gain (or loss) from lines 1.2. one |
13 |
$ |
|||||
Long-Term Capital Gains and Losses — Assets Held More Than 6 Months |
|||||||
5 |
$- - |
||||||
6. Enter the full amount of your share of net long-term gain (or loss) from part |
nershiDS and fiduciaries .... |
||||||
7. Net long-term gain (or loss) from lines 5 and 6 |
$ |
||||||
8. Combine the amounts shown on lines 4 and 7. and enter the net gain (or |
loss) here |
$ |
|||||
9. If line 8 shows a GAIN— Ent there is a loss or no entry on 10. Deduct line 9 from line 8. Ent 11. If line 8 shows a LOSS— Ente (a) the amount on line 8; (b) taj for exemptions: or (c) $1,000. . |
3r 50 percent of line 7 or 50 percent of line line?) |
8, whichever is smaller. (EUiter zero if |
|||||
er balance here and on line 1, Schedule D Summary on page 3 of Form 1040 r here and on line 1, Schedule D Summary, Form 1040, the smallest of the following: able income computed without regard to capital gains and losses and the deduction |
$ |
COMPUTATION OF ALTERNATIVE TAX. — Use only if the net long-term capital gain exceeds the net short-term capital loss, or if there is a net long-term capital gain only, and you are filing (a) a separate return with taxable income exceeding $18,000, or (b) a joint return, or OS a surviving husband or wife, with taxable income exceeding $36,000, or (c) as a head of household with taxable income exceeding $24,000.
12. Enter the amount from line 5, page 2, of Form 1040
13. Enter amount from line 9 above
14. Balance (line 12 less line 13)
15. Enter tax on amount on line 14 (Use applicable fax rate schedule on page 15 of Form 1040 Instructions)
16. Enter 50 percent of line 13
17. Alternative tax (line 15 plus line 16). If smaller than amount on line 6, page 2, Form 1040, enter this alternative tax on line 7, page 2. Form 1040
(11) PROPERTY OTHER THAN CAPITAL ASSETS
a. Kind ot property (it necessary, attach state- ment of descriptive details not shown below) |
b. Date acquired (mo., day, yr.) |
c. Date sold (mo., day, yr.) |
d. Gross sales price (contract price) |
e. Depreciation allowed (of allowable) since acquisition or March 1, 1913 (attach schedule) |
f. Cost or other basis and cost of subsequent im- provements (if not purchased, attach explanation) |
g. Expense of sale |
h. Gain ot loss (column d plus column e less sum of columns f and g) |
1 |
$ |
||||||
. |
|||||||
2. Enter your share of non-capita |
gain (or loss) from partnerships and fiduci |
cries |
|||||
3. Net gain (or loss) from lines 1 a |
nd 2. Enter 1 |
lere and on lir |
e 2, Schedule |
D Summary on page 3 of Form 1040. . . . |
$ |
c59— 16—74552-1
112
FACSIMILES OF TAX RETURNS, 1958
INSTRUCTIONS— (References are
GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY. — Report details in schedule on other side.
"Capital assets" defined. — The term "capital assets" means property held by the taxpayer (whether or not connected with his trade or business) but does NOT include —
(a) stock in trade or other property of a kind properly includible in his inventory if on hand at the close of the taxable year;
(b) property held by the taxpayer primarily for sale to cus- tomers in the ordinary course of his trade or business;
(c) property used in the trade or business of a character which is subject to the allowance for depreciation provided In section 167;
(d) real property used in the trade or business of the taxpayer;
(e) certain government obligations issued on or after March 1, 1941, at a discount, payable without interest and maturing at a fixed date not exceeding one year from date of issue;
(f) certain copyrights, literary, musical, or artistic composi- tions, etc.; or
(g) accounts and notes receivable acguired in the ordinary course of trade or business for services rendered or from the sale of property referred to in (a) or (b) above.
Special rules apply to dealers in securities for determining capital gain or ordinary loss on the sale or exchange of securities. Certain real property subdivided for sale may be treated as capital assets. Sections 1236 and 1237.
If the total distributions to which an employee is entitled under an employees' pension, bonus, or profit-sharing trust plan, which is exempt from tax under section 501(a), are paid 'o the employee in one taxable year, on account of the employee's separation from the service, the aggregate amount of such distribution, to the extent it exceeds the amounts contributed by the employee, shall be treated as a long-term capital gain.
Gain on sale of depreciable property between husband and wife or between a shareholder and a "controlled corporation" shall be treated as ordinary gain.
Gains and losses from transactions described in section 1231 (see below) shall be treated as gains and losses from the sale or exchange of capital assets held for more than 6 months if the total of these gains exceeds the total of these losses. If the total of these gains does not exceed the total of these losses, such gains and losses shall not be treated as gains and losses from the sale or exchange of capital assets. Thus, in the event of a net gain, all these trans- actions should be entered in the "long-term capital gains and losses" portion of Schedule D. In the event of a net loss, all these trans- actions should be entered in the "property other than capital assets" portion of Schedule D, or in other applicable schedules on Form 1040.
Section 1231 deals with gains and losses arising from —
(a) sale, exchange, or involuntary conversion, of land (includ- ing in certain cases unharvested crops sold v/ith the land) and depreciable property if they are used in the trade or business and held for more than 6 months,
(b) sale, exchange, or involuntary conversion of livestock held for draft, breeding, or dairy purposes (but not including poultry) and held for 1 year or more,
(c) the cutting of timber or the disposal of timber or coal to which section 631 applies, and
(d) the involuntary conversion of capital assets held more than 6 months.
See sections 1231 and 631 for specific conditions applicable.
Description of property listed. — State following facts: (a) For real estate (including owner-occupied residences), location and description of land and improvements; (b) tor bonds or other evi- dences of indebtedness, name of issuing corporation, particular issue, denomination, and amount; and (c) for stocks, name of corpo- ration, class of stock, number of shares, and capital changes affecting basis (including nontaxable distributions).
Basis. — In determining gain or loss in case of property acquired after February 28, 1913, use cost, except as specially provided. The basis of property acquired by gift after December 31, 1920, is the cost or other basis to the donor in the event of gain, but, in the event of loss, it is the lower of either such donor's basis or the fair market value on date of gift. If a gift tax was paid with respect to property received by gift, see section 1015(d). Generally, the basis of property acquired by inheritance is the fair market value at time of acquisition which usually is the date of death. For special cases involvinq property acquired from a decedent, see section 1014. In the case of sales and exchanges of automobiles and other prop- erty not used in your trade or business, or not used for the produc- tion of income, the basis for determining gain is the original cost plus the cost of permanent improvements thereto. No losses are recognized for income tax purposes on the sale and exchange of such properties. In determining GAIN in case of property acquired before March 1, 1913, use the cost or the fair market value as of March 1, 1913, as adjusted, whichever is greater, but in determin- ing LOSS use cost as adjusted.
to the Internal Revenue Code of 19S4)
Sale of a personal residence. — See Form 1040 instructions for
special rules applicable to sale or exchange of your residence.
Losses on securities becoming worthless. — If (a) shares of stock become worthless during the year or (b) corporate securities with interest coupons or in registered form become worthless during the year, and are capital assets, the loss therefrom shall be con- sidered as from the sale or exchange of capital assets as of the last day of such taxable year.
Losses on small business stock. — In the case of an individual a loss on section 1244 stock which would (but for that section) be treated as a loss from the sale or exchange of a capital asset shall, to the extent provided in that section, be treated as a loss from the sale or exchange of an asset which is not a capital asset.
Nonbusiness debts. — If a debt, such as a personal loan, becomes totally worthless within the taxable year, the loss resulting therefrom shall be considered a loss from the sale or exchange, during the taxable year, of a capital asset held for not more than 6 months. Enter such loss in column (h) and describe in column (a) in the schedule of short-term capital gains and losses on other side. This does not apply to: (a) a debt evidenced by a corporate security with interest coupons or in registered form and (b) a debt acquired in your trade or business.
Classification of capital gains and losses. — The phrase "short-term" applies to gains and losses from the sale or exchange of capital assets held for 6 months or less; the phrase "long-term" applies to capital assets held for more than 6 months.
Treatment of capital gains and losses. — Short-term capital gains and losses will be merged to obtain the net short-term, capital gain or loss. Long-term capital gains and losses (taken into account at 100 percent) will be merged to obtain the net long- term capital gain or loss. If the net short-term capital gam exceeds the net long-term capital loss, 100 percent of such excess shall be included in income. If the net long-term capital gain exceeds the net short-term capital loss, 50 percent of the amount of such excess is allowable as a deduction from gross income. This deduction is given effect on line 9 of Schedule D.
Limitation on allowable capital losses. — If the sum of all the capital losses exceeds the sum of all the capital gains (all such gains and losses to be taken into account at 100 percent), then such capital losses shall be allowed as a deduction only to the extent of (1) current year capital gains plus (2) the smaller of either the taxable income of the current year (or adjusted gross income if tax table is used) or $1,000. For this purpose taxable income is computed without regard to capital gains or losses or the deduction for exemptions. The excess of such allowable losses over the sum of items (1) and (2) above is called "capital loss carryover." It may be carried forward and treated as a short-term capital loss in succeeding years. However, the capital loss carryover of each year should be kept separate, since the low limits the use of such carryover to the five succeeding years. In offsetting your capital gain and income of 1958 by prior year loss carryovers, use any capital loss carryover from 1953 before using any such carryover from 1954 or subsequent years. Any 1953 carryover which cannot be used in 1958 must be excluded in determining total loss carry- over to 1959 and subsequent years.
Collapsible corporations. — Gain from the sale or exchange of stock in a collapsible corporation is not a capital gain. Section 34 1 .
"Wash sales" losses. — Losses from the sale or other disposition of stocks or securities are not deductible (unless sustained in con- nection with the taxpayer's trade or business) if, within 30 days before or after the date of sale or other disposition, the taxpayer has acquired (by purchase or by an exchange upon which the entire amount of gain or loss was recognized by law), or has entered into a contract or option to acquire, substantially identical stock or securities.
Losses in transactions between certain persons. — No deduc- tion is allowable for losses from sales or exchanges of property directly or indirectly between (a) members of a family, (b) a cor- poration and on individual (or a fiduciary) owning more than 50 percent of the corporation's stock (liquidations excepted), (c) a grantor and fiduciary of any trust, (d) a fiduciary and a beneficiary of the same trust, (e) a fiduciary and a fiduciary or beneficiary of another trust created by the same grantor, or (f) an individual and a tax-exempt organization controlled by the individual or his family. Partners and partnerships see Section 707(b).
Long-term capital gains from regulated investment com- panies.— Include in income as a long-term capital gain the amount you are notified on Form 2439 which constitutes your share of the undistributed capital gains of a regulated investment company. You are entitled to a credit of 25 percent of this amount which should be claimed on line 5, column (b), page I, Form 1040. Enter such amount in column (b) and write "Credit from regulated investment company" in the "Where Employed " column. The remaining 75 percent should be added to the basis of your stock. Also include in income as a long-term capital gain any capital gain dividend which is paid to you by such company.
:E 1958 0-471468 o50— 16— 74552-1
FACSIMILES OF TAX RETURNS, 1958
113
SCHEDULE F (Foim 1040)
U. S. Treasury Department — Internal Revenue Service
SCHEDULE OF FARM INCOME AND EXPENSES
(Compute Social Security Self-Employment Tax on page 3)
Attach this schedule to your Income Tax Return, Form 1040
1958
For Calendar Year 1958, or other taxable year beginning
1958, and ending
195
Nome and Address as shown on page 1, Form 1040
FARM INCOME FOR TAXABLE PERIOD— CASH RECEIPTS AND DISBURSEMENTS METHOD
(Do not inclnde soles of livestock held for draft, breeding, or dairy purposes; report such sales on Schedule D (Form 1040).
Report sales of other livestock in the applicable column below.)
SALES OF LIVESTOCK AND PRODUCE RAISED |
OTHER FARM! NCOME |
||||||
Kind |
Quantity |
I. Amount |
Kind Quantity |
2. Amount |
Items |
3. Amount |
|
Cattle |
$ -.- |
Dairy products. . . |
$ |
Mdse. rec'd for produce |
$ |
||
Meat products. . . Poultry, dressed. . Wool |
Breeding fees Wood and lumber |
||||||
Agricultural program pay- ments Patronage dividends, rebates or refunds Other (specify); |
|||||||
Sirup and sugar. Other (specify): |
|||||||
Bees |
|||||||
Grain |
|||||||
Hay |
|||||||
Fruits and nuts . |
|||||||
Total of C |
Jolumns |
, 2, and 3. Ent |
er here and on line |
1 of summary below |
$ |
SALES OF PURCHASED LIVESTOCK AND OTHER PURCHASED ITEMS |
||||
a. Description |
b. Dale acquired |
c. Gross sales price |
i. Cost or other basis |
e. Prolil(orloss) |
$ |
$ |
$ |
||
Total (enter on line 2 of summary below) |
$ |
FARM EXPENSES FOR TAXABLE YEAR (See Instructions) (Do not include personal or living expenses or expenses not attributable to production of farm Income, such as taxes, insurance, repairs, etc, on you |
r dwelling) |
||||
Items |
1. Amount |
Items |
2. Amount |
Items |
3. Amount |
$ |
Veterinary, medicine . . |
$ |
Freight, trucking Automobile upkeep. . . . |
$ |
|
Seed, plants purchased. |
Storage, warehousing . |
||||
Conservation expenses. Other farm expenses (specify): |
|||||
Breeding tees |
Utilities |
||||
Rent of farm, pasturage . er here and on line 4 of |
|||||
Total of Columns page 2 (accrua |
1, 2, and 3. Ent method) |
summary below (c |
ash method) or line 6, |
$ |
SUMMARY OF INCOME AND DEDUCTIONS— CASH RECEIPTS AND DISBURSEMENTS METHOD
$ |
4. Farm expenses (from above) |
$ |
|||
2. Profit (or loss) on sale of purchased live- |
6. Other farm deductions (specify): |
||||
3. Gross Profits* |
$ |
7. Total Deductions |
$ |
||
8. Net farm profit (or loss) (line 3 minus line 7). Enter here, on line 1 1, page 3 of this schedule, and on hne 9, page 1, Form 1040 |
$ |
• Use thia amount for optional method of computing net (
ell-employment. (See line 13. page 3.)
c69— I©— 74fiM-l
114
FACSIMILES OF TAX RETURNS, 1958
DEPRECIATION (Set |
tnstmctiotts) |
Page 2 |
||||
1. Kind of property (if buildings, state material of which constructed). Exclude land and other nondepreciable property |
2. Date acquired |
3. Cost or other basis |
4. Depreciation allowed (or allow- able) in prior years |
5. Method of comput- ing depreciation |
6. Rate (%) or life (years) |
7. Depreciation for this year |
$ |
$- |
$ |
||||
Total (enter on line 5 of summary on page 1 (cash method) or line 7, below (accrual method)) |
$ |
FARM INVENTORY— ACCRUAL METHOD
(Do not include sales of livestock held far draft, breeding, or daiijr purposes; report such sales on Schedule D (Forni 1040),
and omit them from ^^On hand ot beginning of year" column)
Description (Kind of livestock, crops, |
On hand at beginning of year Purchased during year |
Raised during year |
Consumed or lost during year |
Sold during year |
On hand at end of year |
|||||
Quantity |
Inventory value |
Quantity |
Amount paid |
Quantity |
Quantity |
Quantity |
Amount received |
Quantity |
Inventory value |
|
$-_ ..._. |
$ |
$ |
1 |
|||||||
Totals |
$ |
$ |
$ |
$ |
||||||
(Enter on line 3) |
(Enter on line 4) |
(Enter onlinel(b)) |
(Enleron line 1(a)) |
SUMMARY or INCOME AND DEDUCTIONS— ACCRUAL METHOD
1(a). Inventory of livestock, crops, and products at end of year.
(b). Sales of livestock, crops, and products during year
(c). Other farm income (specify):
2. Total
3. Inventory of livestock, crops, and prod-
ucts at beginning of year
4. Cost of livestock and products purchased
during year
5. Gross profits (line 2 minus the sum of lines 3 and 4)*.
6. Farm expenses (from page 1)
7. Depreciation (from above)
8. Other farm deductions (specify): _.._ _.
Total Deductions .
10. Net farm profit (or loss) (line 5 minus line 9). Enter here, on line 1 1, page 3 of this schedule, and on line 9, page 1, Form 1040
•Use this amount for optional method ol computing net earnings from self-employment. (See line 13 page 3.)
(■59~I6— 71554-1
FACSIMILES OF TAX RETURNS, 1958
115
Pages
COMPUTATION OF SOCIAL SECURITY SELF-EMPLOYMENT TAX ON FARM EARNINGS
(For socicil security) (See instructions — Page 4)
► If you had wages of $4,200 or more which were subject to the deduction for social security, do not fill in this page.
► Each self-employed person must file a separate schedule. See instructions, page 4, for joint returns and partnerships.
► If you had net earnings from self-employment from both farm and nonfarm sources, fill in only lines 1 1 and 12 (line 13, if applicable),
and use separate Schedule C to compute your self-employment tax. Net farm earnings from self-employment should be entered on line 28(d) of separate Schedule C (Form 1040).
NAME OF SELF-EMPLOYED PERSON (as shown on social security card)
CHOICE OF METHODS. — A farmer must report his net farm earnings for self-employment tax purposes. Net earnings may be com- puted under the optional method (line 13, below) by a farmer whose GROSS profits are $1,800 or less, or whose GROSS profits are more than $1,800 and NET earnings are less than $1,200. If your GROSS profits from farming are not more than $1,800 and you elect to use the optional method, you need not complete lines 11 and 12.
11. Net farm profit (or loss) from:
(a) Line 8, page I (cash method), or line 10, page 2 (accrual method)
(b) Farm partnerships
12. Net earnings from self -employment from farming. Total of line 11 (a) and (b). Enter here and on line 6 below.
Computation Under Optional Method
13. If gross prohts from farming (see note below) are:
(a) Not more than $1,800, enter two-thirds of the gross profits 1
(b) More than $1,800 and the amount on line 12 above is less than $1,200, enter $1,200 J
)ss profitf hod), plu
! the total of the gross profits on line 3, page 1 (cash method), or line 5, page 2 ihar« of gross profit from farm partnerships as explained on page 4.
If line 12 (or line 13, if used) is under $400, do not fill in rest of page.
Computation of Social Security Self -Employment Tax
14. The largest amount subject to social security self-employment tax is
($4,800 for years ending offer December 31, 1958) Less: Total wages, subject to deduction for social security, paid to you during the tax- able year. (For wages reported on Form W-2, see "F. I. C. A. Wages" box.)
Enter here and on line 7, below
Balance (line 14 less line 15)
15,
16
4,200
17. Self-employment income. Enter here your choice of:
EITHER ( 1 ) the smaller of line 1 2 or 16 OR (2) the smaller of line 1 3 or 1 6. Enter here and on line 8 below .
18. Self-employment tax — take 3?-^% of the amount on line 17. (You can do this by multiplying the amount online 17 by .03375.) Enter this amount here > i on line 15, page 1, Form 1040.
Important. — The amounts reported on the form below are for your social security account. This account is used in figuring any benefits, based on your earnings, payable to you, your dependents, and your survivors. Fill in each item accurately and completely, but do not detach.
SCHEDULE SE (Fonn 1040) U. S. Treosiuy Dep<irfancnt Inlcraal Revemvc Serrice
S. REPORT OF SELF-EMPLOYMENT INCOME
For Crediting to Your Social Security Account
1958
Indicate year covered by this return (even though income was received only in part of year):
I I Calendar year 1958 L1 Other taxable year beginning 1958. ending
If less than 12 months, was short year due to (a) LH Death, or (b) LJ Change in accounting period, i (c) D Other.
FAIiM ACTIVITIES SUBJECT TO SELF-EMPLOYMENT TAX (Raising livestock, custom harvesting, etc.)
FARM ADDRESS (Rural Route, Post Office, State)
SOCIAL SECURITY ACCOUNT 4 NUMBER OF PERSON NAMED IN ITEM 5 BELOW
PRINT OR TYPE NAME OF SELF-EMPLOYED PERSON AS SHOWN ON SOCIAL SECURITY CARD
PRINT OR TYPE HOME ADDRESS (Number and Street, or Rural Route)
(City or Town, Postal Zone Number, State)
PLEASE DO NOT WRITE IN THIS SPACE
ENTER AMOUNTS, IF ANY. SHOWN ON
UNE 12 ABOVE.. $_
LINE 13 ABOVE.. $
_ ENTER WAGES, IF 7. ANY, SHOWN ON LINE 15 ABOVE. . $
„ ENTER AMOUNT 8. SHOWN ON
UNE 17 ABOVE. .
0&9 — 1»— 74M4-I
I
116
FACSIMILES OF TAX RETURNS, 1958
Page 4
SOCIAL SECURITY SELF-EMPLOYMENT TAX INSTRUCTIONS
Individuals deriving income from farming operations are subject to self-employment tax. See page 3 for computation of earnings from self-employment and self-employment tax. Tfiis tax must be paid regardless of age and even though the indi- vidual is receiving social security benefits.
Optional method for computing net earnings from self- employment from farnning. — If a farmer's gross income for the year from farming is not more than $1,800, he may report two-thirds of his gross farm income instead of his actual net earnings from farming. If his gross income from farm self-employ- ment is more than $1,800 and his actual net earnings from farming are less than $1,200, he may report $1,200. For the purpose of the optional method, a partner should compute his share of gross profits from a farm partnership in accordance with the partnership agreement. In the case of guaranteed payments, his share is his guaranteed payments plus his share of the gross profits after such gross profits are reduced^ by all guaranteed payments of the partnership.
SHARE-FARMING ARRANGEMENTS
An individual who undertakes to produce a crop or livestock on land belonging to another for a proportionate share of the crop or livestock produced, or the proceeds thereof, is con- sidered to be an independent contractor and a self-employed person rather than an employee. His net earnings should be reported on Schedule F (Form 1040) for income tax and self- employment tax purposes.
Form rentals. — Rental income from a farm counts for social security purposes it the arrangement provides for material participation by the landlord and he does participate materially in the production of the crop or livestock or in the management of the production of the farm products. Such rental income is farm earnings and should be reported on page 1 or 2 of this schedule. "Material participation" means the taking of an important part in the actual production or in the making of management decisions.
MORE THAN ONE TRADE OR BUSINESS
If an individual is engaged in farming and in one or more other trades or businesses, his net earnmgs from self-employment are the combined net earnings from self-employment of all his trades or businesses. Thus, the loss sustained in one trade or business will operate to reduce the income derived from another trade or business. In such cases, use both Schedule F (Form 1040) and Schedule C (Form 1040) to determine net profit from the farm and nonfarm activities, respectively. Make the com- bined computation of self-employment tax on page 3 of Schedule C. Fill in only lines 1 1 through 1 3 on page 3 of Schedule F.
JOINT RETURNS
Where husband and wife file a joint income tax return, page 3 of this schedule should show the name of the one with self-employment income from farming. Where husband and wife each had self-employment income, a separate Schedule F, or a separate Schedule C, whichever is appropriate, must be filed by each. However, the total of the amounts shown as profit (or loss) from all businesses should, for income tax pur- poses, be reported on line 8 or 9, on page 1, Form 1040, and the combined self -employment tax should be entered on line 15, page 1, of Form 1040.
COMMUNITY INCOME
For the purpose of computing net earnings from self-employ- ment (but not for income tax), if any of the income from a trade or business is community income, all the income from such trade or business is considered the income of the husband unless the wile exercises substantially all the management and con- trol of the trade or business, in which case all of such income is considered the income of the wife. (Also see instructions on partnerships below.)
If separate income tax returns are filed by husband and wife, a complete Schedule F or Schedule C, whichever is appro- priate, must be attached to the return of the one v/ith self- employment income. Community income included on such a schedule must, however, be allocated, for income tax purposes between the two returns (on line 8 or line 9, page 1, Form 1040) on the basis of the community property laws.
PARTNERSHIPS
In computing his combined net earnings from self-employment, a partner should include his entire share of such earnings from a partnership including any guaranteed payments. No part of that share may be allocated to the partner's wife (or husband) even though the income may, under State law, be community income. However, in the case of a husband and wife farm partnership, like other partnerships, the distributive share of each must be entered as partnership income in Schedule H, page 3, of Form 1 040 for income tax purposes, and on line 11 (b) , page 3, of separate Schedules F for self-employment tax pur- poses. (Use separate Schedule C, page 3, to report nonfarm income for social security purposes.)
Note: If a member of a continuing partnership dies after August 28, 1958, a pro rata share of the partnership's ordinary income (or loss) for its current year must be included in the partner's net earnings from self-employment. The rule may also apply for deaths occuriing after 1955 and before August 29, 1958. In such cases consult your nearest Internal Revenue Service office as to how to report.
EXCLUSIONS FROM SELF-EMPLOYMENT
In determining the amount of net farm earnings from self- employment the following items should be excluded:
Real estate rentals. — Rentals from real estate, including any personal property that is leased with the land. This includes rentals received in cash or crop shares. These amounts should be reported in Schedule G of Form 1040. See, however, "Farm Rentals" under "Share-Farming Arrangements" on this page.
Property gains and losses. — Gains and losses from the sale, exchange, or involuntary conversion of capital assets and other property which is not held primarily for sale to customers. These amounts should be reported on separate Schedule D.
Net operating losses. — In determining the net earnings from self-employment, no deduction for net operating losses of other years shall be allowed. Such deduction should be applied as an adjustment of the amount shown on line 11, page 1, Form 1040.
Other items. — ^Any other item of income or expense which was included in line 12 and which does not enter into the com- putation of net farm earnings from self -employment should be eliminated from line 12 and an explanation attached.
SCHEDULE SE (FORM 1040)
Schedule SE, which is the lower portion oi page 3 of Sched- ule F, provides the Social Security Administration with the in- formation on self-employment income necessary for computing benefits under the social security program.
To assure proper credit to your account, enter your name and social security account number on Schedule SE (Form 1040) exactly as they are shown on your social security card. If you do not have a social security account number, you must get one. These account numbers are obtainable from any Social Security district office. Your local post office will give you the address. Do not delay filing your return beyond its due date.
Regardless of whether joint or separate returns, Form 1040, are filed by husband and wife, Schedule SE (Form 1040) must show only the name of the one with self-em- ployment income. However, if both had net earnings from self-employment, a separate Schedule SE must be filed by each. 069—16—74554-1 tpo 19560-471469
FACSIMILES OF TAX RETURNS, 1958
117
INSTRUCTIONS
FOR "SCHEDULE r (FORM 1040)"
ADDITIONAL INCOME TAX INSTRUCTIONS FOR FARMERS
FOR PREPARING SCHEDULE OF FARM INCOME AND EXPENSES
1958
For the assistance of farmers, a separate Schedule F (Form 1040) is provided and should be used by all farmers for income tax and self employment tax purposes. METHOD OF ACCOUNTING
Farmers may compute their income either on the cash receipts and disbursements method or on an accrual method, but whichever method is adopted in filing their first return must be followed until the consent of the Commissioner of Internal Revenue, Washington 25, D. C, is received to change the method.
CASH RECEIPTS AND DISBURSEMENTS METHOD
A farmer using the cash receipts and disbursements method shall include in his gross income for the taxable year (1) the amount of cash and the value of merchan- dise or other property received from the sale of livestock and produce which were raised during the taxable year or prior years, (2) the profits received from the sale of any livestock and other items which were purchased, and (3) gross income received from all other sources. Such income should be reported on page I of Schedule F. The farm expenses will be the actual amounts paid out during the taxable year plus deductions such as depre- ciation, depletion, amortization, etc. ACCRUAL METHOD
For a farmer using an accrual method, the gross profits are obtained as indicated in summary of income and deductions on page 2 of Schedule F. The farm expenses will be the actual expenses incurred during the year, whether paid or not.
Farmers who compute income on an accrual method and use inventories may value their inventories accord- ing to the "farm-price method," in addition to other methods, which provides for the valuation of inventories at market price less direct cost of disposition. Farmers raising livestock may value their inventories of animals according to either the "farm-price method" or the "unit-hvestock-price method."
If the use of the "farm-price method" of valuing inven- tories for any taxable year involves a change in method of valuing inventories from that employed in prior years, permission for the change shall first be secured from the Commissioner.
INCOME
All the farm income from whatever source must be reported in Schedule F. Anything of value received instead of cash, such as groceries received in exchange for produce, must be treated as income to the extent of its market value.
The value of farm produce consumed by the farmer and his family need not be reported as income, but expenses incurred in raising such produce must not be claimed as deductions.
Recoveries from insurance on growing crops should be included in gross income.
A farmer, who rents all or a part of his crop land on a crop share basis, under a bona fide rental agreement, and who receives crop shares as rent, shall report the crop shares as rental income only for the year in which they are reduced to money, or the equivalent of money.
If a farmer pledges commodities as security for a loan from the Commodity Credit Corporation, income is not
considered received until the pledged commodities are sold. However, a farmer may elect to include in gross income amounts received during the year as loans from the Corporation. If he does so elect he should file with his return a statement showing details of such loans, and he must continue to report similar loans as income until he receives permission from the Commissioner to change his method of accounting.
Report gains and losses from sales or exchanges of capital assets and other property in separate Schedule D (Form 1040).
The term "farm" embraces the farm in the ordinarily accepted sense, and includes stock, dairy, poultry, fruit, truck farms, and all land used for farming operations. A person cultivating or operating a farm for recreation or pleasure, the result of which is a continual loss from year to year, is not regarded as a farmer.
Patronage dividends received from cooperatives in cash or its equivalent are to be included in farm income to the extent of their fair market value in the year re- ceived. However, such dividends in the form of certifi- cates of indebtedness, revolving fund certificates, stock certificates, etc., which have no fair market value, and over which you have no control either as to the amount or time of receipt, are to be included in income only in the year cash or other property becomes subject to payment on demand, regardless of your accounting method. Dividends received on purchases of capital assets or depreciable property used in farming are not included in income, but the purchase price of such items must be reduced accordingly. Dividends you receive on non- business purchases are not included in income.
The following situations may be treated as involun- tary conversions provided you purchase similar property within the replacement period (generally within one year after the year in which you first realize gain): (1) livestock which are destroyed by or on account of dis- ease, or sold or exchanged because of disease, (2) land lying within an irrigation project which is sold or dis- posed of to meet acreage limitations under Federal rec- lamation laws, and (3) livestock (other than poultry) held for draft, breeding, or dairy purposes which are sold or exchanged solely on account of drought in ex- cess of the number which would be sold under usual business practices.
EXPENSES AND OTHER DEDUCTIONS
In general, a farmer who operates a farm for profit is entitled to deduct from gross income as necessary expenses all amounts actually expended in carrying on the business of farming, except those which represent capital investment. The following is a list of such expenses (taken from the classification appearing on page 1 of Schedule F, though any other equally descrip- tive classification may be used):
Labor hired. - Amounts paid for regular farm labor, piecework, contract labor, and other forms of hired labor. Do not deduct the value of your own labor or that of your wife or family. Only that part o* the board which is purchased for hired labor should be deducted. The value of products furnished by the farm and used in
c59— 16— 74553-1
118
FACSIMILES OF TAX RETURNS. 1958
the board of hired labor is not deductible. However, the cost of rations purchased for laborers or share- croppers is deductible. Do not deduct amounts paid to persons engaged in household work except to the extent that the services of such persons are used in boarding and otherwise caring for farm laborers. Amounts paid for services of such employees engaged in caring for the farmer's own household are not deductible.
Feed purchased.— Cost of grain, hay, silage, mill feeds, concentrates, and roughages purchased, and amounts paid for grinding, mixing, and processing of feed.
Machine hire. — Amounts paid for threshing, combin- ing, silo filling, baling, ginning, and other machine hire.
Supplies purchased.- Cost of twine, spray materials, poisons, disinfectants, cans, barrels, baskets, egg cases, bags, and other similar farm supplies purchased.
Cost of repairs and maintenance. Amounts ex- pended for repairs and maintenance of farm buildings (except your dwelling), offences, drains, and other farm improvements, and for repairs and maintenance of farm machinery and equipment; cost of ordinary tools of short life or small cost such as shovels, rakes, etc. Amounts paid for replacements of, or additions to, farm machin- ery, farm buildings, or other farm equipment of a permanent nature are not deductible.
Fertilizers and lime. — Cost of commercial fertilizers, lime, and manure purchased during the year, the benefit of which is of short duration.
Taxes. — State and local taxes. Do not deduct Fed- eral income taxes; estate, inheritance, legacy, succession, and gift taxes; nor taxes assessed for any improvement or betterment tending to increase the value of the prop- erty assessed. Do not deduct taxes on your dwelling or household property and other taxes not related to the business of farming.
Insurance.— Cost of all insurance on farm buildings (except your dwelling) and on improvements, equipment, crops, and livestock.
Farm Interest. — Interest paid on farm mortgages and other obligations incurred in carrying on farming.
Utilities. — The farm share of the expenditures for water rent, electricty, telephone, etc. Do not deduct personal expenses.
Rent of farm, part of farm, or pasturage. — Rent paid in cash. A tenant farmer paying rent to his land- lord in the form of crops raised on the farm (under a crop share agreement) may not deduct as rent the value of the crop given to the landlord, but the tenant may deduct all amounts paid by him in raising the crop.
Automobile upkeep.-- For automobiles used exclu- sively in farm operations, all expenses of operation, repair, and depreciation. For automobiles used both for farm and personal transportation, only that part of the expense which applies to the farm use may be deducted.
Conservation expenses. — You may deduct certain expenditures made by you (including any amount paid on any assessment levied by a soil or water conservation or drainage district to defray expenditures made by such district) for soil or water conservation and the preven- tion of erosion if such expenditures are in respect of land used by you in your business of farming.
The term "expenditures" for this purpose means ex- penditures (a) for the treatment or moving of earth, includ- ing but not limited to, leveling, grading, terracing, and contour furrowing; (b) the construction, control, and pro- tection of diversion channels, drainage ditches, earthen dams, watercourses, outlets, and ponds; (c) the eradica- tion of brush; and (d) the planting of windbreaks. You
may not deduct expenditures for the construction, instal- lation, or improvement of facilities which are subject to the allowance for depreciation or expenses which are deductible elsewhere.
The allowable deduction for any one year may not exceed 25 percent of your gross income from farming, but any excess may be carried over to succeeding years with the same limit applying to those years. The phrase "gross income from farming" means the gross income of the farmer from the business of producing crops, fruits or other agricultural products or raising livestock; it includes such income from a farm other than the one on which expenditures for soil and water conservation, or for the prevention of erosion, were made.
To claim a deduction for these expenditures you must (a) elect to do so for the first taxable year which begins after December 31, 1953, and ends after August 16, 1954, for which such expenditures are paid by claiming such deduction on your return; or, (b) secure consent from the District Director of Internal Revenue for any other year. Once you have elected to do so, you must con- tinue to treat such expenditures as deductions in all future taxable years unless you secure consent from the District Director to change.
Other farm expenses. Fees paid for advertising farm products; expenditures for stamps, stationery, ac- count books, and other office supplies purchased for farm use; expenditures for travel in connection with the farm and similar expenditures. Amounts expended for pur- chase of automobiles, farm machinery, farm buildings, or other farm equipment of a permanent nature are not deductible.
Depreciation. Allowance for depreciation of build- ings, improvements, machinery, or other farm equipment of a permanent nature. Similar assets may be grouped together as one item for reporting purposes in the depre- ciation schedule on Schedule F. In computing depreci- ation do not include the value of farm land or land on which farm buildings are located. Do not deduct repairs or depreciation on the dwelling you occupy or on your personal or household equipment. Do not claim depre- ciation on livestock or any other property included in your inventory. Depreciation, however, may be claimed on livestock acquired for work, breeding, or dairy purposes which are not included in your inventory of livestock purchased or raised for sale. See the instructions for Form 1040 for methods of computing depreciation.
Losses. — Losses of farm buildings, machinery, and other farm property not included in your inventory, to the extent not compensated by insurance or otherwise. Losses of property included in your inventory are taken care of by the reduced amount of the inventory at the close of the year. The total loss of a prospective crop by frost, storm, flood, or fire, is not deductible. When using the cash method, the value of animals raised by you and lost by death is not deductible, while m the case of animals purchased and lost by death, the cost less depreciation allowed or allowable is deductible to the extent the loss is not compensated by insurance or otherwise. Do not deduct personal losses.
Amortization. If you elect the deduction with respect to the amortization of the adjusted basis of a grain storage facility, a statement of the pertinent facts should be filed with your return, (See section 169 of the Internal Revenue Code of ] 954.)
Net operating loss deduction. Any net operating loss deduction should be applied as an adjustment of the amount entered on line 11, page 1, Form 1040. See instructions for Form 1040 and submit computation.
JOVERNMENT PRINTING OFFICE : I95S O ■
FACSIMILES OF TAX RETURNS, 1958
119
Form 1040A U. S. INDIVIDUAL INCOME TAX RETURN (Less than $10,000 lotal income)
1958
Please print -
I. Namc(l(fh.i ISO io.nl
ol husband end v„lc, use I.nl
ind m.ddle .n.l.als ol bolh)
Home oddrns (Number and s
5 WAGES SHOWN ON FORMS W-5 AND OTHER INCOME INCOME TAX WITHHELD EMPLOYER'S NAME. Whct» employed. Write (W) before name o( each o( wife's employcrj
2.You.SocialS«unlyNo
Wrfc's Social Security No.
3. Do you owe any Federal lax for yeais before 1958? □ Yes □ No
4. Is your wife (husband) matin3 a separate return? Q Yes [""] No
l( "yes," write her (his) nome
II lolol income (item 9) is $10,000 or more, OR il other income (item 6) ii o«er SSOO, you must use Form 1040.
6 OTHER INCOME
o.Yo
9 TOTAL INCOME-
8. If you had an expense allow<
8 and checl< here D if oppropfic
charsed cKpenses to your employer, see instruction
from Tax Table Of from tax compulation scfiedule ^
1 1. If ttem 10 IS larger tfian item 7, enter balance due
12. If.
7 IS larger than item 10, enter refund DEPAFTTMENT
Enclose Forms W-2, Copy B. If your income was $5,000 or more, you must compute your tax. However, if your income was less than $5,000, you may hove the Internal Revenue Service compute your tax by omitting items 10, 1 1, and 12. U you compuU your own tax, ^ poy fco/once {item 77) m full with return to your District Director. List your exemptions and SIGN on other side.
PLEASE DO NOT BEND, PIN OR TEAR THIS CARD
13. Exefflptions for yourself and wife |
||||||
Check blocks whrch apply. Check for w,f. ( W "=3"'°' *600 exemption □ Yourself □ Wife \ Enter numbo ,f she had no income OR rf hei income is (b) Additional $600 exemption if 65 or o.er at end of 1 958-. □ Yoursel Q Wife ( <>' "!'T'?'" included in this return. ( (c) Additional $600 exemption ,( blind at end of 1958 □ Yourself □ Wife ) ' > |
||||||
14. Exemptions for your children and other dependents (List below) |
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NAME > Enter figure 1 in the last column to light for each name listed (Gi.e add.ess ,( diKerenl l,om you.s) |
Relationship |
ANSWER ONL Monihi lived ,n your home If born Ol died during year also wrile -B" or "D" |
t FOR DEPENOEN Did d^pendenl have gross income of $600 |
TS OTHER THAN YO Amount YOU furnished (oi dependent's sup- port. Ill 00% write "ALL" |
UR CHILDREN Amount furnished by OTHERS including dependent |
|
$ |
$ |
|||||
SIGN |
1 declare under the penalties of periury that to the best of my l<nowledge and belief this is a true, correct, and complete return. 1 1 |
|||||
HERE |
||||||
(You. signature) (Dile) (l( ihii ii > joint return, wile'i signiture) (D.le) • If this IS o loml lelurn, BOTH HUSBAND AND WIFE MUST SIGN e»en if only one has income / |
120
FACSIMILES OF TAX RETURNS, 1958
For Employees
WHO EARNED LESS THAN $10,000 IN 1958
The enclosed card. Form 1040A, offers a simple way for employees receiv- ing less than $10,000 total income to file their 1958 U. S. income tax returns.
To use CARD (Form 1040 A) FOLLOW THESE SIMPLE STEPS
®
Read instructions below. See "Who May Use Form 1040A." If you may not use Form 1040A, file Form 1040.
(2) Fill out the copy on page 3.
^5) Transfer answers from the copy to the card. Keep ^"^ the copy for your records. If your name and address
are already printed on the card form, please use it as your return and correct the name and address, if necessary. It is already punched for high-speed machine handling.
(2) Sign the card and mail it together with your With- holding Statements (Forms W-2, Copy B) to your District Director of Internal Revenue.
GENERAL INSTRUCTIONS
WHO MUST FILE A TAX RETURN Every citizen or
resident of the United States under 65 who had $600 or more gross income; if 65 or over, $1,200 or more.
WHO MAY USE FORM 1040A If your gross income was
less than $10,000 and consisted entirely of wages reported on Withholding Statements (Forms W-2) and not more than $200 total of dividends, interest, and other wages not subject to withholding, you may use the card form. A husband and wife may file a joint return if their combined incomes do not exceed these limits.
WHO MAY NOT USE FORM 1040A.— File Form 1040 instead of Form 1040A if —
(1) you had income from sources other than or in amoimts larger than those stated above,
(2) either husband or wife itemizes deductions,
(3 ) you claim the tax status of head of household or sur- viving husband or wife,
(4) you claim dividends received credit or retirement income credit,
(5) you claim an exclusion for "Sick Pay" paid directly to you by your employer and this amount is in- cluded in the total wages shown on your Form W-2,
(6) you claim deductions for travel, transportation, or "outside salesmen" expense (however, see instruc- tion 8, page 2),
(7) you claim credit for payments on estimated tax or an overpayment from 1957.
WHEN TO FILE.^Please file as early as possible on or after January 1, 1959, but not later than April 15, 1959.
WHERE TO FILE.— With the District Director of Internal Revenue for your district.
WHERE TO GET FORMS.— If you need a Form 1040, you can get one from any Internal Revenue office, and from most banks and post offices. Your employer will furnish you with a Withholding Statement (Form W-2).
HOW TO PAY. — Checks or money orders should be made payable to "Internal Revenue Service." You need not pay a balance of tax due of less than $1.00, and a refund of less than $1.00 will not be made unless you apply for it.
o67— 16--74366-1
SIGNATURE. — You have not filed a valid return unless you sign it. Both husband and wife must sign a joint return.
COMPUTATION OF TAX ON FORM 1040A:
(1) It your income was less fhan $5,000. — You may
figure your own tax from the Tax Table on page 4, or you may have the Internal Revenue Service do it for you.
The Tax Table allows about 10% of your income as de- ductions which include charitable contributions, interest, taxes, losses, medical expenses, child care expenses, and certain miscellaneous deductions. If your deductions ex- ceed 10% of your income, it will be to your advantage to use Form 1040 and itemize them.
(2) If your income was $5,000 or more and less fhan $10,000. — You must use the standard deduction and com- pute your own tax. A tax computation schedule is pro- vided on page 3 to make this computation.
MARRIED COUPLE:
(1) How fo compufe tax. — A husband and wife may file a joint return even though one had no income. To assure any benefits of the spht-income provisions, they nuist file a joint return. Both husband and wife must sign a joint return. If your income was under $5,000 and you choose to have the Internal Revenue Service figure your tax, it will be computed on the combined incomes or on the separate incomes, whichever results in the smaller tax or larger refund. If you figure your own tax, be sure to make both computations and enter the smaller tax or larger refund on your return.
(2) How to prepare a joint return. — In a joint return you must include all income of both husband and wife. In the return heading, list both names (for example: "John F. and Mary L. Doe"). Both must sign the return. A joint return may not be filed if either husband or wife was a nonresident alien at any time during the taxable year.
(3) How to prepare a separate return. — In a separate return each must report his or her separate income and fill in a separate form. The "split income" provisions of the Federal tax law do not apply to separate returns of husband and wife.
Instructions I040A (1958)
FACSIMILES OF TAX RETURNS, 1958
INSTRUCTIONS FOR PREPARING FRONT OF FORM 1040A
121
®
If you are married and are filing a joint return as husband and wife, be sure to enter the first names and
middle initials of yourself and your wife. For example:
John F. and Mary L. Doe.
(^ Enter your social security number and your wife's ^^^ social security number, if any, even though she files a separate return.
(^ (?) Answer questions 3 and 4.
f?) Fill in the information from each of your 1958 With- ^^ holding Statements, Forms W-2. If both hvisband and wife had wages, write "W" before name of each of wife's employers. If you had more than three employers, list the information on a separate statement. If you have lost any Withholding Statements, ask your employer for a new statement. If you cannot furnish Withholding Statements, attach an explanation.
TWO OR MORE EMPLOYERS.— If either you or your wife worked for two or more employers and they withheld a total of more than S94.50 of social security (F. I. C. A.) tax from your wages, you may claim the excess as a credit against your income tax. For a joint return, figure the credit separately for husband and wife. To claim the credit:
a. Add up the social security (F. I. C. A.) tax withheld by all your employers from your wages in 1958.
b. Subtract S94.50.
c. Enter the balance in the "Income Tax Vithheld" column of item 5 and write "F. I. C. A. tax" in the "Where Employed" column.
(£) Enter all other taxable income from dividends, in- ^"^ terest and wages not subject to withholding. Exclude SjO of dividends received from domestic corporations. This exclusion does not apply to so-called dividends re- ceived from mutual savings banks or savings (building) and loan associations on deposits or withdrawable accounts. If a joint return is filed and both husband and wife had dividend income, each is entitled at most to a S50 exclusion and one may not use any portion of the S50 exclusion not used by the other. For example, if the husband had $200 in dividends, and the wife had $20, only $70 may be ex-
cluded on a joint return. If item 6 exceeds $200, you must file a Form 1040.
(7)
Enter total of income tax withheld and excess social security (F. I. C. A.) tax credit, if any.
(D REIMBURSED EMPLOYEE EXPENSES
If you account to your employer for business ex- penses (or when you travel on business he gives you a flat allowance for subsistence and mileage of not more than $15.00 per day and 12^4 cents per mile), and he pays for them (either by advances or reimbursements or by allowing you to use a charge accoimt), you may file Form 1040A without showing these amounts by simply checking the box in item 8 [7] on the front of Form 1040A. How- ever, if your employer's payments are more than your expenses, you may not use Form 1040A; you must use Form 1040.
Enter total of wages and other income.
(D
(iD ^D (it) Computation of tax liability.
a. If your income was /ess fhan $5,000. — You may
figure your own tax from the Tax Table on page 4, or you may have the Internal Revenue Service do it for you. If you figure your own tax, complete items 10, and II or 12. If you have the Service figure your tax, you will be sent a bill for the balance due or a check for the refund.
b. If your income was $5,000 or more and /ess fhan $10,000. — You must compute your own tax and use the standard deduction of 10%. (If your itemized deductions are in excess of 10% of your total income, it will be to your advantage to use Form 1040.) A tax computation schedule is provided on page 3 to figure your tax.
Enter the tax liability from line 6 of the tax computa- tion schedule as item 10 of Form 1040A. Keep the tax computation schedule for your records; do not attach it to your return. The Internal Revenue Service will verify the tax computation and adjust for any errors.
Any balance of tax shown to be due on item 11 must be paid in full when you file your return if it amounts to SI. 00 or more.
INSTRUCTIONS FOR PREPARING BACK OF FORM 1040A
(J3^ Fill in this item to receive credit for your exemptions ^"^ and for those of your wife. Age and blindness are determined as of December 31, 1958.
Marital Status. — If married at the close of your tax- able year, you are considered married for the entire year. If divorced or legally separated on or before the close of your year, you are considered single for the entire year. If your wife or husband died during the year, you are consid- ered married for the entire year, and may file a joint return.
(^4^ Fill in this schedule to receive credit for exemptions ^"^ for your children, stepchildren, and other dependents. Each dependent must meet all of the following tests:
a. Received more than one-half of his or her support from you (or from wife or husband if a joint return is filed).
b. Received less than 8600 gross income. (This test does not apply to your cliildren or stepchildren who are under 19 or who are students for 5 calendar months of the year.)
c. Did not file a joint return with her husband (or his wife).
d. Was either a citizen or resident of the United States or a resident of Canada, Mexico, the Republic of Panama, or the Canal Zone. (This does not apply to an alien child legally adopted by and living with a United States citizen abroad.)
e. EITHER (1) for the entire year 1958 had your home as his prin- cipal place of abode and was a member of your household ; OR ( 2 ) was related to you (or to husband or wife if a joint return is filed) in one of the following ways:
Child Sister Mother-in-law The following if
Stepchild Grandchild Father-in-law related by blood:
Mother Stepbrother Brother-in-law Uncle
Father Stepsister Sister-in-law Aunt
Grandparent Stepmother Son-in-law Nephew
Brother Stepfather Daughter-in-law Niece
BIRTH OR DEATH OF DEPENDENT.— You can claim a full S600 exemption for a dependent who was born or died during the year if the tests for claiming an exemption for such dependent are met for the part of the year during which he was alive. 057-16-74356-1
122
FACSIMILES OF TAX RETURNS, 1958
Form 1040A
U. S. INDIVIDUAL IKCOME TAX RETURN (Less than $10,000 total income)
1958
Please (1) Name (II .his .s <= ioin. rclurr
print — ^
o! husband and wife,
®-
■(2)^.
Social Security No.
Wife's Social Security No.
Home address (Numbei
3 J Do you owe any Federal lax (or years before I958?___ □ Yes D No
^ J Is your wife (fiusbond) making a separate return? lJ Yes lJ No
5. WAGES 5HOWN ON FORMS W-2 AND OTHER INCOME
INCOME TAX WITHHELD
EMPLOYERS NAME. Where employed. Write (W) beloi
of each of wife's employers
If total iacome (item 9) is 110,000 or more, OR if other income (item 6) is over S200, you must use Form 1040.
6 OTHER/- «
incomev. u
You
9. TOTAL INCOMEl
m
®'°
I
1 0. Enter tax From Tax Table or from tax computation schedule M Q
11. If item 10 is larger than item 7, enter balance due-Mi j*^
12. If item '7 is larger than item 10, enter refund -(J2) >
jif you had an expense allowance or charged expenses to your employer, see instruction _y 8 and check here I I if appropriate.
Enclose Forms W-2, Copy B. If your income was $5,000 or more, you must compute your tax. However, if your income was less than $5,000, you may have the Internal Revenue Service cpmpute your tax by omitting items tO, 1 1, and 12. // you computeyour own tax, •^ pay balance {item 77) in full with return to your District Director. List your exemptions and SIGN on other side.
PLEASE DO NOT BEND, PIN OR TEAR THIS CARD
FRONT
R C©FY=KEEP FOE YOUR RECORDS
^ BACK
(]\) Exemptions for yourself and wife |
|||||
Check blocks which apply. Check tor w.fc ( '•"^ ^'^"^'" ^''°° "^-"P'"" D Yourself Q \ If she had no income OR if her income is (b) Additional $600 exemption if 65 or over at end of I958_. □ Yourself □ \ included in this return. (c) Additional $600 exemption if blind at end of 1958 Q Yourself □ \ |
'V'ife \ Enter number iVife (■ °' exemptions I checked |
||||
(14) Exemptions for your children and other dependents (List below) |
|||||
NAME > Enter figure 1 In the last column to rieht for eacli name listed (Give oddress i( different from yours) |
Relationship |
ANSWER ONL^ Months lived in yoor home. If born or dieid during year also |
f FOR DEPENDEN Did dependent have gross income o( $600 |
TS OTHER THAN YOUR CHILDREN Amount YOU furnished . , , , , , ,. , J J ,. Amount lurnistied by tor dependent s sup- nTHFP^ i.,^l,,J;„« poit. 1(100% write UIHtKb includinj •■ALL" dependent |
•* •* •* |
$ |
S |
||||
15. Enter total number of exemptions listed in items 13 an |
|||||
SIGN |
1 declare under the penalties of perjury that to the best of my knowledge and belief this is a true, correct, and complete retu.n. |
||||
HERE |
|||||
(Your jignthire) (Dale) (11 this is » joint retiim, wife's (ignilure) (Dale) • If this is a joint return, BOTH HUSBAND AND WIFE MUST SIGN even If only one has income. |
TAX COMPUTATION SCHEDULE [U se only ij total income, item 9 oj Form 1040 A, is $5,000 or more)
1. Enter total income from item 9 of Form 1040A $
2. A married person filing a separate return enter $500; all others enter 10 percent of line 1
3. Balance (line 1 less line 2)
4. Multiply $600 by total number of exemptions claimed in item 15 of Form 1040A
5. Taxable income (line 3 less line 4)
6. Tax on amount on line 5. Use appropriate tax rate schedide below. Enter bere and as item 10 of Form 1040A (Do not attach this schedule to Form 1040A)
If you are a single faxp< separate return If llie amount on line 5 is: Over But not over $0 $2,000 $2,000 !t4.000-_. |
lyer or o married taxpayer filing a use this tax rate schedule Enter on line 6: 20% of the amoinit on line 5 $400, plus 22% of exeess over $2,000 $840, plus 26% of excess over $4,000 $1,.360, plus 30%! of excess over $6,000 $1,960, plus 34% of excess over $8,000 |
If you are married taxf If the amount on line 5 is Over But not over $0 $4,000 $4,000 $8,000- $8,000 $9,999.99 |
>ayers fifinj a joint return, use this tax rate schedule Enter on line 6: .. 20% of the amount on line 5 |
S4,000 |
$6,000 |
||
$6,000 58,000 |
$8,000 $9,999.99 |
.. $800, plus 22% of excess over $4,000 ... $1,680, plus 26%) of excess over $8,000 |
c57— 16— 74366-1
FACSIMILES OF TAX RETURNS. 1958
123
PACE 4 TAX TABLE FOR INCOMES UNDER $5,000
If your total income (item 9 on your return) is $5,000 or more, use Tax Computation Schedule on page 3 instead of this Tax Table
To find your tax read down income columns until you find the line covering the total income shown as item 9. Then read across to appropriate column headed by number corresponding to number of exemptions claimed on item 1 5. Enter tax as item 1 0.
$0 675 700 725 750 775 800 825 850 875 900 925 950 975 000 025 050 075 100 125 150 175 200 225 250 275 300 325 350 375 400 425 450 475 500 525 550 575 600 625 650 675 700 725 750 775 800 825 850 875 900 925 950 975 000 025 050 075 100 125 150 175 200 225 250 275 300
$675 700 725 750 775 800 825 850 875 900 925 950 975 1,000
$0 |
$0 |
4 |
0 |
8 |
0 |
13 |
0 |
17 |
0 |
22 |
0 |
26 |
0 |
?.l |
0 |
35 |
0 |
40 |
0 |
44 |
0 |
49 |
0 |
53 |
0 |
58 |
0 |
62 |
0 |
67 |
0 |
71 |
0 |
76 |
0 |
80 |
0 |
85 |
0 |
89 |
0 |
94 |
0 |
98 |
0 |
103 |
0 |
107 |
0 |
112 |
0 |
116 |
0 |
121 |
1 |
125 |
5 |
130 |
10 |
134 |
14 |
139 |
19 |
143 |
23 |
148 |
28 |
152 |
32 |
157 |
37 |
161 |
41 |
166 |
46 |
170 |
50 |
175 |
55 |
179 |
59 |
184 |
64 |
188 |
68 |
193 |
73 |
197 |
77 |
202 |
82 |
206 |
86 |
211 |
91 |
215 |
95 |
220 |
100 |
224 |
104 |
229 |
109 |
233 |
113 |
238 |
118 |
242 |
122 |
247 |
127 |
251 |
131 |
256 |
136 |
260 |
140 |
265 |
145 |
269 |
149 |
274 |
154 |
278 |
158 |
2S3 |
163 |
287 |
167 |
292 |
172 |
296 |
176 |
J2, 325 2,350 2,375 2,400 2,425 2,450 2,475 2,500 2,525 2,550 2,575 2,600 2,625 2,650 2,675 2,700 2,725 2,750 2,775 2,800 2,825 2,850 2,875 2,900 2,925 2,950 2,975 3,000 3,050 3, 100
3, 150 3,200 3,250 3,300 3,350 3,400 3,450 3,500 3,550 3,600 3,650 3,700 3,750 3,800 3,850 3,900 3,950 4,000 4,050
4, 100 4, 150 4,200 4,250 4,300 4,350 4,400 4,450 4,500 4, 550 4,600 4, 650 4,700 4,750 4,800 4,850 4,900 4.950
$2, 350 2,375 2,400 2,425 2,450 2,475 2,500 2,525 2, 550 2,575 2,600 2,625 2,650 2,675 2,700 2,725
2, 750 2,775 2,800 2,825 2,850 2,875 2,900 2,925 2,950 2,975 3,000 3,050
3, 100 3, 150 3,200 3,250 3,300 3,350 3,400 3,450 3,500
3, 550 3,600 3,650 3,700 3,750 3,800 3,850 3,900 3,950 4,000 4,050
4, 100 4, 150 4, 200 4,250 4,300 4,350 4,400 4,450 4, 500 4,550 4,600 4, 650 4,700 4,750 4,800 4,850 4,900 4,950 5,000
And the number of exemptions is—
person filing sepa- rately
And yo Single or a married person filing sepa- rately |
A married couple filing jointly |
3 And you are- Single or ; ^ """8 : iZg r^f^efy i """^'^ |
4 |
5 |
. 6 |
If 8 or more there i$ no
Your |
tax is— |
||||||
$301 |
$181 |
$181 |
$61 |
$61 |
$0 |
$0 |
$0 |
305 |
185 |
185 |
65 |
65 |
0 |
0 |
0 |
310 |
190 |
190 |
70 |
70 |
0 |
0 |
0 |
314 |
194 |
194 |
74 |
74 |
0 |
0 |
0 |
319 |
199 |
199 |
79 |
79 |
0 |
0 |
0 |
323 |
203 |
203 |
83 |
83 |
0 |
0 |
0 |
328 |
208 |
208 |
88 |
88 |
0 |
0 |
0 |
332 |
212 |
212 |
92 |
92 |
0 |
0 |
0 |
337 |
217 |
217 |
97 |
97 |
0 |
0 |
0 |
341 |
221 |
221 |
101 |
101 |
0 |
0 |
0 |
346 |
226 |
226 |
106 |
106 |
0 |
0 |
0 |
350 |
230 |
230 |
110 |
110 |
0 |
0 |
0 |
355 |
235 |
235 |
115 |
115 |
0 |
0 |
0 |
359 |
239 |
239 |
119 |
119 |
0 |
0 |
0 |
364 |
244 |
244 |
124 |
124 |
4 |
0 |
0 |
368 |
248 |
248 |
128 |
128 |
8 |
0 |
0 |
373 |
253 |
253 |
133 |
133 |
13 |
0 |
0 |
377 |
257 |
257 |
137 |
137 |
17 |
0 |
0 |
382 |
262 |
262 |
142 |
142 |
22 |
0 |
0 |
386 |
266 |
266 |
146 |
146 |
26 |
0 |
0 |
391 |
271 |
271 |
151 |
151 |
31 |
0 |
0 |
395 |
275 |
275 |
155 |
155 |
35 |
0 |
0 |
400 |
280 |
280 |
160 |
160 |
40 |
0 |
0 |
405 |
284 |
284 |
164 |
164 |
44 |
0 |
0 |
410 |
289 |
289 |
169 |
169 |
49 |
0 |
0 |
415 |
293 |
293 |
173 |
173 |
53 |
0 |
0 |
420 |
298 |
298 |
178 |
178 |
58 |
0 |
0 |
427 |
305 |
305 |
185 |
185 |
65 |
0 |
0 |
437 |
314 |
314 |
194 |
194 |
74 |
0 |
0 |
447 |
323 |
323 |
203 |
203 |
83 |
0 |
0 |
457 |
332 |
332 |
212 |
212 |
92 |
0 |
0 |
467 |
341 |
341 |
221 |
221 |
101 |
0 |
0 |
476 |
350 |
350 |
230 |
230 |
110 |
0 |
0 |
486 |
359 |
359 |
239 |
239 |
119 |
0 |
0 |
496 |
368 |
368 |
248 |
248 |
128 |
8 |
0 |
506 |
377 |
377 |
257 |
257 |
137 |
17 |
0 |
516 |
386 |
386 |
266 |
266 |
146 |
26 |
0 |
526 |
395 |
395 |
275 |
275 |
155 |
35 |
0 |
536 |
404 |
404 |
284 |
284 |
164 |
44 |
0 |
546 |
414 |
413 |
293 |
293 |
173 |
53 |
0 |
550 |
424 |
422 |
302 |
302 |
182 |
62 |
0 |
566 |
434 |
431 |
311 |
311 |
191 |
71 |
0 |
575 |
443 |
440 |
320 |
320 |
200 |
80 |
0 |
585 |
453 |
449 |
329 |
329 |
209 |
89 |
0 |
595 |
463 |
458 |
338 |
338 |
218 |
98 |
0 |
605 |
473 |
467 |
347 |
347 |
227 |
107 |
0 |
615 |
483 |
476 |
356 |
356 |
236 |
116 |
0 |
625 |
493 |
485 |
365 |
365 |
245 |
125 |
5 |
635 |
503 |
494 |
374 |
374 |
254 |
134 |
14 |
645 |
513 |
503 |
383 |
383 |
263 |
143 |
23 |
655 |
523 |
512 |
392 |
392 |
272 |
152 |
32 |
665 |
533 |
521 |
401 |
401 |
281 |
161 |
41 |
674 |
542 |
530 |
410 |
410 |
290 |
170 |
50 |
684 |
552 |
539 |
420 |
419 |
299 |
179 |
59 |
694 |
562 |
548 |
430 |
428 |
308 |
188 |
68 |
704 |
572 |
557 |
440 |
437 |
317 |
197 |
77 |
714 |
582 |
566 |
450 |
446 |
326 |
206 |
86 |
724 |
592 |
575 |
400 |
455 |
335 |
215 |
95 |
734 |
602 |
584 |
470 |
464 |
344 |
224 |
104 |
744 |
612 |
593 |
480 |
473 |
353 |
233 |
113 |
754 |
622 |
602 |
490 |
■182 |
302 |
242 |
122 |
764 |
632 |
611 |
500 |
491 |
371 |
251 |
131 |
773 |
641 |
620 |
509 |
500 |
380 |
260 |
140 |
783 |
651 |
629 |
519 |
509 |
389 |
269 |
149 |
793 |
661 |
638 |
529 |
518 |
398 |
278 |
158 |
803 |
671 |
647 |
539 |
527 |
407 |
287 |
167 |
813 |
681 |
656 |
549 |
536 |
416 |
296 |
176 |
INDEX
[Asterisk (*) indicates new items]
Accounting period
Accumulation distribution from a complex trust.. Additional exemption allowances for age and
blindness
Additional first year depreciation
Adjusted gross deficit 22 ,
Adjusted gross income 3, 27, 29, 32, 53,
Basis for classifying data
Classified by:
Form of deduction 15, 28, 29, 42
Marital status 8, 12, 36, 40, 50, 51
Sources 18-21, 28, 32, 66,
States and Territories 65
Types of tax 18, 52, 64,
Computation
Cumulated
Form 1040A
Age and blindness, exemptions for. (See Statis- tics of Income- 1957 , Individual Income Tax Returns. ) Age, blindness and dependents other than chil
dren, exemptions for
Age, exemption for. (See Stat ist ics of Income-
1956, Individual Income Tax Returns .) Allowance of exemption for an alien adopted child living with a U. S. citizen residing
abroad
Alternative tax 18, 20, 23, 50.
Amended returns
Annuities and pensions. (See Pensions and
annuities. ) Artistic works and inventions, income attribut- able to
Audit revisions not tabulated
Average income tax
B Back pay 21
Business net profit or net loss... 3, 13, 14, 19, 28-30, 34, 38, 45, 66, 72, 74, 76
C
Calendar year returns 14
Capital gains and losses:
Analysis of data 5, 6
Computation of:
Capital loss carryover 19, 20, 62
Capital loss deduction 19
Long-term gains and losses 20, 62, 63
Net gain from sales 19 , 62 , 63
Net long-term gain in excess of net
short-term loss 20 , 63
Net loss from sales 19 , 62
Net loss from sales before limitation... 20, 62
One-half excess long-term gain 20, 50, 51
Sales of capital assets.. 3, 28, 29, 31, 35, 39,
46, 50, 51, 62, 63, 66, 72, 74, 77
Short-term gains and losses 19, 62, 63
Page
14
21, 24
22
3
72, 73
72, 74
17
, 55-58 , 53-58 72, 74 -70, 78 65, 73 22 27 12, 13
8, 10, 22
3, 22
■52, 63
14
21
14
52, 73
Capital loss carryover. (See Capital gains and
losses. ) Capital loss deduction. (See Capital gains and losses. )
Casualty losses 22, 74
Changes in tax laws:
Small Business Tax Revision Act of 1958 3
Technical Amendments Act of 1958 3, 22
Child care , deduction for 22 , 74
•■Children dependents, returns with 8, 10, 11
Classifications and terms 17, 24
Community income 13, 17
Comparability of data 3
Contributions, deduction for 6, 7, 18, 21, 29, 42,
48, 74 Credit on 1959 tax 24, 33, 37, 41
Declarations of estimated tax. Form 1040ES 24
Deductible contributions in excess of 20 percent
of adjusted gross income 6, 7
Deductible expenses for:
Business or profession
Rents and royalties
Salaries and wages
Reimbursed and travel expenses
Deductions:
Itemized nonbusiness.... 6-9, 15, 17, 18, 21-
29, 42, 43, 48, 49, 57, 58,
Standard 15, 17, 23, 28, 55,
Deficit , adjusted gross 22 ,
Dependents. (See Exemptions. )
Description of sample
Disabled persons 65 years or over
Distributed or undistributed current-year tax- able income 3, 20, 21
Dividends :
After exclusions 18, 19, 28-30, 34, 38, 44, 66
Exclusions 4, 5
Received 3, 4, 5
Tax credit for 4, 5, 23, 32, 36, 40, 43
Drugs, expense for. (See Medical deduction and expense . )
E
Effective tax rates 52 , 83
Estates and trusts, income or loss 20, 29, 32, 36,
40, 47
Estimated tax, payment on declarations of 24, 33
37, 41
Excludable sick pay 5, 18
Exclusions from:
Dividends received 4, 5
Salaries and wages 18
Exemptions 8, 10, 12, 13, 18, 22, 32, 36, 40, 43,
53-61, 83
19 |
|
20 |
|
18 |
|
18 |
|
!3, |
28. |
72, |
74 |
56, |
72 |
72, |
73 |
15 |
-17 |
3 |
, 7 |
124
INDEX
Exemptions — Continued Page
Additional allowance for age, blindness, and
dependents other than children 8, 10, 22
Age and blindness combined. (See
Statistics of Income- 1957 , Individual Income Tax Returns.) Age only. (See Statistics of Income- 1956, Individual Income Tax Returns.)
Allowances for 22
»Children dependents 8 , 10
Form 1040A 12, 13
Ordinary. ( See Personal. )
Other than age or blindness. (See Statistics of Income- 1957 , Individual Income Tax Returns . )
Personal 22
Qualifications for:
Income and dependency 22
Multiple support 22
Support 22
Expenses. (See Deductible expenses.)
Income tax after credits — Continued
Computation
Cumulated
Income tax before credits.... 23, 32, 36, 40, '+3,
Income tax rates
Income tax withheld 14 , 24 , 33 ,
Individual income tax returns for 1958
Interest paid, deduction for.. 6, 18, 21, 29, 42,
Interest received 3, 19, 28-30, 34, 38,
72, Inventions and artistic works, income attribut- able to
Itemized nonbusiness deductions.... 6-9, 15, 17,
22, 28, 29, 42, 43, 48, 57, 58,
*By size of total
Joint returns of husbands and wives.. 8, 10, 11, 13, 17, 21-23, 34, 37, 50, 53, 55, 57, 59 *Forms 1040A with one or both spouses em- ployed 10 , 13
Page |
|
24 |
|
27 |
|
50, |
51 |
23, |
83 |
37, |
41 |
3 |
|
48, |
74 |
44, |
66, |
74, |
. 75 |
21 |
|
18, |
21, |
72, |
, 74 |
Facsimiles of return forms 87-119
Filing requirements 14
Citizens and resident aliens of United
States 14
Citizens and resident aliens of Puerto Rico. 14
Claim for refund 14
Historical:
Individual income tax returns, 1949-58.. 83 Self-employment tax schediile, 1951-58... 83
Fiscal year returns 14
Foreign tax paid, tax credit for 23, 33, 37, 41, 43
Form 1040 3-5. 12, 14-19, 21-24, 87
Form 1040A 4, 10, 12-18, 21-24, 119
Classified by:
Adjusted gross income classes 10, 12, 14
»Joint returns, with one or both spouses
employed 10 , 13
*Marital status 10 , 12
»Size of other income 10, 14
L
Laws , synopsis of 82 , 83
Long-term gains and losses from sales of capital
assets. (See Capital gains and losses.)
Long-term services, compensation for 21
Lump-sum payment at maturity of endowment or
life insurance contracts 21
M
Marital status of taxpayer 8, 10-12, 17, 18, 21-23,
34-42, 50, 51, 53-61
Measures of individual income 22 , 23
Medical deduction and expense.. 3, 6, 7, 18, 21, 22, 29,
42, 49, 74 Metropolitan areas (see also States and
Territories) 18, 66, 68, 69
Multiple support exemption 18, 22
Gross income (see also Adjusted gross income)
H
Heads of household.
10, 11, 17, 18, 21-23, 51,
54, 56, 58, 60
Historical data, 1949-58 72-78
73
74
72
73
74
Average income tax
Itemized deductions
Returns by major characteristics
Returns with income tax
Sources of income by type
Sources of income by adjusted gross income
classes 75-77
States and Territories 78 , 79
Income and dependency qualifications for
exemption 22
Income attributable to several tax years 21
Income tax after credits 3, 27, 33, 53, 72, 73
Classified by:
Form of deduction 43, 55-58
Marital status 37, 41, 50, 51, 53-58
Type of tax 50-52, 64
States and Territories 66-70 , 79
N
Net gain or net loss from sales of capital assets . (See Capital gains and losses . ) Net gain or net loss from sales of property
other than capital assets.. 20, 28, 29, 31, 35, 39, 46 Net long-term capital gain in excess of net short-tenn capital loss . (See Capital gains and losses.) Net loss from sales of capital assets before limitation. (See Capital gains and losses.)
Net operating loss deduction 19, 72, 74
»New data:
«Children dependents, returns with 8, 10, 11
*Form 1040A returns 10 , 12-14
*Size of total itemized deductions 7, 9
*Sole proprietorships (Preliminary data for
1958) 12-14
♦Taxable income for partial tax 20, 23, 50, 51
No information, returns with 14
No taxable income, returns with 32, 36, 40, 43
Nonbusiness deductions. (See Itemized nonbusi- ness deductions.)
Noncalendar year accounting periods 12 , 14
Nontaxable returns 3, 17
Normal tax and surtax 18, 20, 23, 50-52
Number of returns filed. (See specific type of
return or classification.) Number of returns , income , and taxes 3
126
INDEX
0
Page One-half excess long-term gain. (See Capital gains and losses.)
Operating loss deduction, net 19, 72, 74
Optional tax. (See Tax table.)
Other areas 18
Other income 3, 10, 20, 21, 28, 29, 32, 36, -40
Other itemized nonbusiness deductions 6, 22, 29,42,
74 Other tax credits. (See Tax credits.) Overpayment of tax 24 , 33 , 37 , 41
Partial tax 20, 23,
Partially tax-exenpt interest, tax credit
Partnership, profit or loss 3, 19, 28-30,
50, 51
23, 24
34, 38,
45, 66
Patterns of income relating to four selected sources (dividends, interest, capital gaiji or loss, estate and trust income or loss). (See Statistics of Income- 1957 , Individual Income Tax Returns. )
Payments on declarations of estimated tax 24, 33,
37, 41
Pensions and annuities 20, 28, 29, 35, 39
Per capita exemption 22
Personal exemption 22
x-Preliminary data. Sole Proprietorships 12-14
Preliminary report. Statistics of Income-1958 ,
Individual Income Tax Returns 3
Property other than capital assets, sales of.... 20, 28,
29, 31, 35, 39, 46
Refund of tax 24, 33, 37, 41
Reimbursed and travel expenses 18
Rents and royalties... 3, 20, 28, 29, 31, 35, 39, 47, 66 Retirement income, tax credit for.... 23, 32, 36, 40, 43 By age groups. (See Statistics of Income-
1955. Individual Income Tax Returns .) Special deductions for persons with. (See Statistics of Income-1955 , Individual Income Tax Returns .) Returns filed. (See specific type of return or
classification. ) Returns from which data were tabulated 14
Salaries and wages:
Gross, deductions from:
Excludable sick pay
Travel and reimbursed expenses
Net 3, 5, 10, 18, 28-30, 34, 38,
72, Sales of capital assets. (See Capital gains and losses. )
Sales of property other than capital assets
29, 31, 35,
Sample , description of
Schedule C , Form 1040
Schedule D, Form 1040
Schedule F, Form 1040
Self-employment taxes 3, 14, 18, 24, 64, 65
Separate returns of husbands and wives... 8, 10,
21-23, 50, 53, 55 Short-term gains and losses from sales of
capital assets. (See Capital gains and losses.)
Sick pay exclusion
Single persons not head of household or surviv- ing spouse 8, 10, 17, 18, 21-23, 38-41,
56
5, 18
18
44, 66,
74, 75
20, 28,
39, 46
15-17
12, 107
111
12, 113
72, 83
17, 18,
57, 60
5, 18
50, 54, 58, 61
Small Business Tax Revision Act of 1958
Social Security taxes
»Sole proprietorships (Preliminary data for 1958)
Combined net profit aind loss
Number of businesses
Total receipts
(For additional information see Statistics of Income- 1958- 59 , V . S. Business Tax Returns- ) Sources comprising adjusted gross income... 18-21
Sources of data
Split income provision
Standard deduction 14, 15, 17, 22, 23, 55,
Standard metropolitan areas 18, 66,
States and Territories 18, 65-70,
Statistics of Income-1958-59 , U. S. Business Tax
Returns
Stockholders share of income from a small busi- ness corporation electing not to be taxed as a
corporation 3,
Support test
Surviving spouse 8, 11, 17, 18, 21-23,
56, Synopsis of tax laws
3
24
12-14
12, 14
12-14
12, 14
, 74-77 14 23 56, 72 68, 69 78, 79
12
20, 21
22
50, 54,
58, 61
81-83
Tax base. (See Taxable income.)
Tax credits 3-5, 23, 24, 32, 33, 36, 37, 40, 41,
43, 50, 51
Dividends received 3-5, 23, 32, 36, 40, 43
Foreign tax paid 23, 33, 37, 41, 43
Other 23, 24, 33, 37, 41, 43
Partially tax-exempt interest 23, 24
Tax-free covenant bond interest 23, 24
Throwback tax 23, 24
Retirement income 23 , 32 , 36 , 40 , 43
Tax items 23, 24
Tax laws , synopsis of 81-83
Tax paid at source. (See Tax credits.)
Tax rates 23, 24, 83
Tax refund 24, 33, 37, 41
Tax table 15
Tax withheld 14, 24, 33, 37, 41
Taxable income 3, 27, 32, 72
Basis for classifying data 17, 18
Classified by:
Form of deduction 43. 55, 56-58
Marital status 8, 10, 36, 40, 50, 51, 53-58
States and Territories 66
Types of tax 50-52
Computation 22 , 23
Cumulated 27
♦Taxable income for partial tax 20, 23, 50, 51
Taxable returns 3, 17
Taxable and nontaxable status 17, 24
Taxes paid, deduction for 6, 18, 21, 29, 42, 48, 74
Technical Amendments Act of 1958.
Tentative returns
Throwback tax credit. (See Tax credits.)
Travel and reimbursed expenses ■
Types of tax ■
3, 22
14
18 18
U
Uninsured casualty and theft losses of business property and capital assets held more than 6 months for the production of income
Wages and salaries. (See Salaries and wages.) Withheld tax. (See Tax withheld.)
U.S. GOVERNMENT
1960 O - 566335
s
TATISTICS OF INCOME
Publications in Preparation
Fiduciary, Gift, and Estate Tax Returns nied dmmg 1959
FIDUCIARY INCOME TAX RETURNS FOR 1958: Sources of income, deductions, exemptions, and tax. Classifications by estate or trust income (also bank ad- ministered trust), size of total income and taxable income, tax status, types of tax, and States, Historical data 1949-58.
GIFT TAX RETURNS FOR 1958: Total gifts, exclusions, deductions, specific exemption, and tax. Classifications by type of gifts, size of taxable gift and total gift, tax status, recurrent donors, and consent status.
ESTATE TAX RETURNS: Gross estate by type of property, deductions, specific exemption, tax, and tax credits. Classifications by tax status, size of gross estate and net estate before exemption, method of valuation, marital status, age, sex, and States, Historical data 1950-59.
U. J5. DUSmeSS rax Returns with accounting periods ended July 1958- June 1959
SOLE PROPRIETORSHIPS, PARTNERSHIPS, AND CORPORATIONS Business receipts, profits, depreciation, and inventories. Classifications by industry, size of profit and of business receipts, and for partnerships and cor- porations, size of total assets. Historical data for selected years,
V-iOrpOratlOn income Tax Returns with accounting periods ended July 1958-June 1959.
Income and balance sheet data, tax liability, distributions to stockholders. Clas- sifications by industry, size of total assets, size of net income, size of profit- ability and total assets turnover ratios, month accounting period ended, prior year income. Separate data for small business corporation returns. Forms 1120-S; consolidated returns; personal holding company schedules.
Individual
Income Tax Returns for 1959, Preliminary
Sources of income, adjusted gross income, total itemized deductions, exemp- tions, taxable income, income tax, tax credits, self-employment tax, tax withheld, and taxpayments, by size of income. Selected sources of income by States.
Recent Publications
Corporation Income Tax Returns with accounting periods ended July 1957-June
1958 (212 pp., $1.50) U. S. Business Tax Returns with accounting periods ended July 1957-June 1958,
Sole Proprietorships, Partnerships, and Corporations (32 pp., 35<f) Individual Income Tax Returns lor 1957 (113 pp., 750) Fiduciary Income Tax Returns for 1956 (48 pp., 40<;:) Estate and Gift Tax Returns filed during 1957 (39 pp., 35$) Farmers' Cooperative Income Tax Returns lor 1953 (42 pp., 40$)
Statistics of Income publications are for sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C.
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STATISTICS OF INCOME . . . 1959
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Individual
INCOME TAX RETURNS
for 1959
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U. S. TREASURY DEPARTMENT • INTERNAL REVENUE SERVICE
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Statistics of income
Publications in Preparation
VjOrpOr3llOn income Tax Returns with accounting periods ended July 1959-June 1960
Income statement and balance sheet information, net income, income subject to tax, income tax liability, and distributions to stockholders. Classifications by industry, size of total assets, business receipts, and net income, year of incorporation, type of tax, month accounting period ended. Internal Revenue dis- tricts and regions in which returns were filed, and selected ratios. Separate data for returns with net income, returns of small business corporations taxed through shareholders, consolidated returns, returns with foreign tax credit, and Western Hemisphere trade corporation returns. Historical Summary, 1950-51 through 1959-60. (Summer 1962)
Tax Returns with accounting periods ended July 1959-June 1960
U. S. Business
SOLE PROPRIETORSHIPS, PARTNERSHIPS, AND CORPORATIONS
Business receipts, profits, inventory reporting patterns, income statement and related balance sheet data for partnerships. Classification by industry, size of profit, and business receipts, and for partner- ships and corporations, size of total assets. Depreciation methods-sole proprietorships and partnerships. Historical data for selected years. (Summer 1962)
Income Tax Returns for 1960
Individual
Sources of income, adjusted gross income, exemptions, itemized deductions, income tax, self employment tax, and tax credits, by adjusted gross income classes. Selected sources of income, itemized deductions and total deductions by their respective size. Data on sick pay excluded from salaries, total dividends, and dividend exclusion. Income and taxes reported on Forms 1040A and 1040W. Information from returns of taxpayers age 65 and over. Sources of income by States. Adjusted gross income, exemptions, and income tax by size of adjusted gross income for each State. Historical data 1951 through 1960. (October 1962)
Fiduciary, Gift, and Estate
Tax Rettrrns filed during 1961
FIDUCIARY INCOME TAX RETURNS FOR 1960: Sources of income, deductions, exemptions, income tax liability, tax credits, tax payments. Classifications by trusts (bank-administered and nonbank- administered), and estate, size of total income and taxable income, tax status, types of tax, and States. Historical summary 1951 through 1960. (December 1962)
GIFT TAX RETURNS: Total gifts, exclusions, deductions, specific exemption, and tax liability. Classi- fications by type of gifts, size of taxable gift and total gift, tax status, recurrent donors, consent status, and States. (December 1962)
ESTATE TAX RETURNS: Gross estate, deductions, specific exemption, tax liability, tax credits, out- of-state real estate, stocks and bonds of unlisted out-of-state corporations, life insurance, and annuities. Classifications by type- of property, tax status, size of gross estate and net estate before exemption, method of estate valuation, and States. Historical summary 1951 through 1960. (December 1962)
Recent Publications
Corporation Income Tax Returns with accounting periods ended July 1959-June 1960, Preliminary (32 pp.,
30<t) U. S. Business Tax Returns with accounting periods ended July 1959-June 1960, Preliminary (39 pp.,
30e) Individual Income Tax Returns for 1960, Preliminary (22 pp., 20*) Fiduciary, Gift and Estate Tax Returns filed during 1959 (116 pp., 70$) Farmers' Cooperative Income Tax Returns for 1953 (42 pp., 40$)
Statistics of Income publications are for sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C.
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