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STATISTICS OF INCOME 
FOR 1938 

PART 1 

COMPILED FROM INDIVIDUAL INCOME TAX RETURNS, FIDUCIARY 
INCOME TAX RETURNS, ESTATE TAX RETURNS. 
AND GIFT TAX RETURNS 

UNITED STATES TREASURY DEPARTMENT 
BUREAU OF INTERNAL REVENUE - WASHINGTON, D. C. 



U. S. TREASURY DEPARTMENT 

BUREAU OF INTERNAL REVENUE 



STATISTICS OF INCOME 
FOR 1938 



PART 1 

COMPILED FROM INDIVIDUAL INCOME TAX RETURNS, 

FIDUCIARY INCOME TAX RETURNS, ESTATE TAX 

RETURNS, AND GIFT TAX RETURNS 



PREPARED UNDER DIRECTION OF THE 

COMMISSIONER OF INTERNAL REVENUE 

BY THE 
STATISTICAL SECTION. INCOME TAX UNIT 




UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON : 1941 



For sale by the Superintendent of Documents, Washington. D. C. ------------- Price 30 cent» 



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U, 8. SUPERINTENDENT OF DOCUMENTS 

AUG 25 1941 



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CONTENTS 



Pas* 
Official transmittal 1 

INDIVIDUAL INCOME TAX RETURNS AND FIDUCIARY INCOME TAX 

RETURNS 

Number of returns, net income, and tax 1-2 

Returns tabulated 2 

Data tabulated 2-3 

Changes provided by Revenue Act of 1938 3 

Definitions of net income and no net income 3-4 

Tax liability & 

Tax liability and collections 5-fr 

Geographic distribution 6 

Net income classes 6 

Content of tables 6-8 

Comparability with previous reports 9 

INDIVIDUAL INCOME TAX RETURNS AND TAXABLE FIDUCIARY INCOME 
TAX RETURNS WITH NET INCOME (ALSO INDIVIDUAL INCOME TAX RE- 
TURNS WITH NO NET INCOME) 

Number of returns, net income, and tax 10-13 

Sources of income and deductions 13 

INDIVIDUAL INCOME TAX RETURNS WITH NET INCOME AND WITH NO 
NET INCOME (EXCLUDING FIDUCIARY INCOME TAX RETURNS) 

Estimate of data for certain returns with net income under $5,000 14-15 

Number of returns, net income, and tax 15-18 

Simple and cumulative distribution by net income classes of number of 

returns, net income, and tax 18-19 

Classification by sex and family relationship, individual returns with net 

income 20 

Personal exemption and credits against net income, individual returns 

with net income 21 

Individual returns with no net income but with alternative tax liability. _ 21-22 

Capital gains and losses 22-24 

Sources of income and deductions 24-33 

Frequency distribution of selected sources of income and loss by net income 

classes and by size of each source of income and loss 34-47 

Profit and loss from business, by industrial groups, returns Form 1040 

with net income of $5,000 and over 48-49 

Number of returns by counties, cities, and towns 49 

FIDUCIARY INCOME TAX RETURNS 

Number of returns, net income taxable to the fiduciary, and tax 49-50 

Returns tabulated and definitions of certain items 50-51 

Income classes 51 

Sources of income and deductions 51-52 

Amount distributable to beneficiaries 52-54 

WHOLLY AND PARTIALLY TAX-EXEMPT GOVERNMENT OBLIGATIONS, 
AMOUNT OWNED AND INTEREST RECEIVED— INDIVIDUAL AND FIDUCIARY 
INCOME TAX RETURNS 

Individual income tax returns with net income of $5,000 and over 55 

Fiduciary income tax returns with net income showing a balance income 

of $5,000 and over - 55-56 



IV CONTENTS 

PARTNERSHIP RETURNS OF INCOME 

Page 
Number by years, 1917-1938 57 

HISTORICAL SUMMARIES— INDIVIDUAL INCOME TAX RETURNS WITH NET 
INCOME, INCLUDING RETURNS FOR ESTATES AND TRUSTS, 1913-1938. AND 
INDIVIDUAL RETURNS WITH NO NET INCOME, 1928-1938 

Number of returns, net income, tax before tax credits, tax credits and tax 
for returns with net income, 1913-1938, and number of returns and deficit 
for returns with no net income, 1928-193S 58-59 

Number of returns with net income, by net income classes, 1914-1938, 

and number of individual returns with no net income, 1928-1938 60-61 

Net income, by net income classes, 1916-1938, and deficit, 1928-1938 62-63 

Tax for returns with net income, by net income classes, 1916-1938, and 

tax for individual returns with no net income, 1938 64-65 

Effective tax rate (percent), returns with net income, by net income classes, 

1916-1938 65-66 

Sources of income and deductions, and net income or deficit, 1916-1938: 

All returns 66-70 

Returns with net income of $5,000 and over 71-75 

HISTORICAL DATA IN SOURCE BOOK 

Statement of contents of Source Book 76 

Method of securing data 76 

basic tables 

Individual income tax returns with net income and with no net 
income and taxable fiduciary income tax returns with net 
income (1-9): 

United States in aggregate (1-8): 

Number of returns, net income or deficit, personal exemption, 
credit for dependents, and tax, by States and Territories: 

1. Individual returns and taxable fiduciary returns with net 

income, and individual returns with no net income 78-79 

1-A. Individual returns with net income and with no net 

income 80-81 

Number of returns, net income, personal exemption, credit for 
dependents, earned income credit, tax, average tax, and effective 
tax rate, by net income classes for returns with net income, 
and in aggregate for returns with no net income: 

2. Individual returns and taxable fiduciary returns with net 

income, and individual returns with no net income: 

All returns 82-83 

Returns with no alternative tax 84-85 

Returns with alternative tax 86-91 

2-A, Individual returns with net income and with no net 
income: 

All returns 92-93 

Returns with no alternative tax 94-95 

Returns with alternative tax 96-1 01 

Simple and cumulative distribution of number of returns, net 
income and tax, and percentages, by net income classes for 
returns with net income, and in aggregate for returns with no 
net income: 

3. Individual returns and taxable fiduciary returns with net 

income, and individual returns with no net income-- 102-104 
3— A. Individual returns with net income and with no net 

income 105-107 

4. Number of returns and net income, by sex and family relation- 

ship and by States and Territories, individual returns with 

net income 108-1 10 

5. Number of returns, net income, personal exemption and credit 

for dependents, by sex and family relationship and by net 
income classes, individual returns with net income 111-115 



CONTENTS V 

Individual income tax returns with net income and with no net Pase 

INCOME AND TAXABLE FIDUCIARY INCOME TAX RETURNS WITH NET INCOME 

(1-9)— Continued. 

United States in aggregate (1-8) — Continued. 

6. Sources of income and deductions, and net income, by States 
and Territories, individual returns with net income and 

with no net income 116-122 

Number of returns and amount of each source of income and 

deductions, and net income, by net income classes for returns 

with net income, and aggregate for returns with no net income: 

7. Individual returns and taxable fiduciary returns with net 

income, and individual returns with no net income-- 123-130 
7-A. Individual returns with net income and with no net 

income 131-138 

S. Number of returns, total receipts and net profit and loss from 
business (sole proprietorship), by industrial groups, indi- 
vidual returns with net income of $5,000 and over 139-141 

States and Territories separately (9) : 

9. Number of returns, net income or deficit, and total tax, by net 
income classes for individual returns with net income, 
aggregate for individual returns with no net income, aggre- 
gate for taxable fiduciary returns with net income, and 
historical summary for returns with net income, 1934-1938. 142-167 
Fiduciary income tax returns with net income and with no net 
income (10-13): 

10. Number of returns, net income or deficit, personal exemption, 

tax, average tax and effective tax rate, by net income classes 
for returns with net income, and in aggregate for returns with 
no net income: 

All returns 171-173 

Returns with no alternative tax 174-175 

Returns with alternative tax 176-179 

11. Number of returns and amount of each source of income and 

deductions, balance income, amount distributable to bene- 
ficiaries, and net income taxable to the fiduciary or deficit, by net 
income classes for returns with net income, and in aggregate for 

returns with no net income 180-189 

Sources of income and deductions, balance income or deficit, amount 

distributable to beneficiaries, and net income taxable to the fiduciary 

or deficit: 

12. Returns with net income, by balance income classes 187-189 

13. Returns with no net income, by balance deficit and income 

classes 190-193 

Wholly and partially tax-exempt obligations, amount owned and 

interest received individual and fiduciary income tax returns 

(14-16): 

14. Individual income tax returns with net income of $5,000 and over, 

by net income classes 197-198 

Fiduciary income tax returns with net income showing a balance 
income of $5,000 and over, by taxable and nontaxable returns: 

15. By balance income classes 199-200 

16. By net income classes 201-203 

Industrial groups for businesses of sole proprietors, comparison 

of classifications for 1938 and 1937 205-211 

estate tax returns and gift tax returns 

estate tax returns 

Filing requirements 215 

Summary data 215-216 

Definitions and new classifications: 

Gross estate 216-217 

Net estate 21 £ 

Tax and tax credits 217-218 

Content of estate tax tables 218-219 



VI CONTEXTS 

Returns filed during 1939 for citizens and resident aliens: 

Items of gross estate, deductions, net or no net estate, and tax: Page 

Table 1. Taxable and nontaxable, by Revenue Acts 220-223 

Table 2. Taxable, by net estate classes 224-236 

Table 3. Taxable, by gross estate classes 237-242 

Table 4. Nontaxable, by gross estate classes 243-247 

By States and Territories: 

Table 5. Taxable and nontaxable, selected items 248-249 

Table 6. Value of real estate by situs of real estate 250-255 

Historical summary — Table 7. Resident and nonresident decedents: 

number of returns, gross estate, net estate, and tax, 1916-1939 256 

GIFT TAX RETURNS 

Filing requirements 257 

Tax liability 257 

Number of returns, total and net gifts, and tax 257-258 

Kinds of gifts 258 

Identical donors 258-259 

Definitions of items: 

Total gifts 259 

Net gifts 259 

Specific exemption 259 

Content of gift tax tables 259 

Gift tax returns, 1938: 

Number, total gifts before exclusions, exclusions, total gifts after exclu- 
sions, net gifts, and tax: 

Table 1. By net gift classes 260-261 

Table 2. By total gift classes 262-264 

Table 3. Gifts transferred in trust 264 

Identical donors: 

Table 4. Number of returns, net gifts, and tax, by taxable status in 

1938 and prior years 265 

Table 5. Number of taxable returns, by size of net gifts for 1938 

and for prior years 265-266 

Historical summary — Table 6. Number of returns, total gifts, net gifts, 

and tax, 1932-1938 266 

synopsis of revenue acts of 1913-1938 affecting the compara- 
bility of data in "statistics of income"— federal tax rates, 
credits and exemptions and other provisions applicable to 
individual income and profits tax returns. fiduciary income 
tax returns, estate tax returns, and gift tax returns 

Individuals and fiduciaries: 

Required to file returns, personal exemption, credit for dependents, 

and normal tax rates, 1913-1938 270-273 

Surtax rates and total surtax, 1913-1938 274-275 

Supplemental income and profits tax rates and credits, 1917-1938 276-279 

Estates: 

Rates, total estate tax, specific exemption, and credits against estate 

tax, Revenue Acts 1916-1935 280-281 

Gifts: 

Rates, total gift tax, specific exemption, exclusions and deductions, 

Revenue Acts of 1924, 1932, and 1932 as amended by 1934 and 1935. 282 

INCOME TAX FORMS 

Facsimiles of Forms 1040A, 1040, 1041. and 1065 for 1938 283-313 

Index 315-328 



STATISTICS OF INCOME FOR 1938 



PART 1 



INDIVIDUAL INCOME TAX RETURNS, FIDUCIARY INCOME TAX 
RETURNS, ESTATE TAX RETURNS, AND GIFT TAX RETURNS 

Treasury Department, 
Office of Commissioner of Internal Revenue, 

Washington, D. C, Jvne 28, 19^1. 
Sir: In accordance with the provisions of the Revenue Act of 1916 
and subsequent acts requiring the publication annually of statistics 
with respect to the operation of the income, war-profits, and excess- 
profits tax laws, I have the honor to transmit herewith a report en- 
titled "Statistics of Income for 1938, Part 1," prepared from individual 
income tax returns and fiduciary income tax returns for 1938 filed 
during 1939, with a historical presentation of the income and of the 
tax liability reported on income tax returns since the inception of the 
present period of income taxation under the sixteenth amendment to 
the Constitution. The report also contains tabulations of data from 
estate tax returns filed during 1939, irrespective of the date of death 
of the decedent, and tabulations of data from gift tax returns for 1938 
filed during 1939, with brief historical summaries for each. On pages 
267-282 there is presented a synopsis of the provisions of the Revenue 
Acts of 1913-1938 relating to Federal tax rates, credits and exemptions 
applicable to individual income and profits tax returns, fiduciary 
income tax returns, estate tax returns, and gift tax returns which 
affect the historical comparability of data in Statistics of Income. 
Respectfully, 

Guy T. Helvering, 
Commissioner of Internal Revenue. 

Hon. Henry Morgenthau, Jr., 

Secretary of the Treasury. 



INDIVIDUAL INCOME TAX RETURNS AND FIDUCIARY INCOME TAX 

RETURNS 

number of returns, net income, and tax 

The total number of returns for 1938 is 6,451,835, of which 6,251,009 
are individual returns and 200,826 are fiduciary returns. There are 
6,150,776 individual returns showing a net income of $18,660,929,186, 
and 100,233 individual returns with no net income. There are 76,379 
fiduciary returns showing a net income taxable to the fiduciary of 

l 



2 STATISTICS OF INCOME 

$242,168,363, and 124,447 fiduciary returns with no net income. Of 
the 6,150,776 individual returns with net income, 2,995,664 are taxable 
and 3,155,112 nontaxable, and of the 76,379 fiduciary returns with net 
income taxable to the fiduciary, 52,881 are taxable and 23,498 non- 
taxable. The total tax is $765,832,841, of which $726,734,864 is 
reported on taxable individual returns and $39,097,977 on taxable 
fiduciary returns. (Twenty-six individual returns with no net income 
show alternative tax; see explanation on pages 21-22.) 

RETURNS TABULATED 

In each volume of Statistics of Income the data tabulated are from 
returns for the calendar year indicated therein and from a negligible 
number of returns for a fiscal year ending in the period July of the 
calendar year through June of the succeeding year, and for a part year 
with the greater number of months of the accounting period falling in 
the calendar year. 

The returns covered by this report are, in general, filed under the 
provisions of the Revenue Act of 1938, and include returns for the 
calendar year 1938 and a negligible number of returns for a fiscal year 
ending in the period January through June 1939, a part year beginning 
and ending in 1938, and a part year beginning in 1938 and ending in 
1939, the greater part of the accounting period falling in 1938. How- 
ever, there are included a number of returns filed under the provisions 
of the Revenue Act of 1936 as amended by the Revenue Act of 1937, 
consisting of returns for a fiscal year beginning in 1937 and ending in 
the period July 1938 through November 1938, and for a part year be- 
ginning in 1937 and ending in 1938, the greater part of the accounting 
period falling in 1938. 

The returns used for this report are individual returns, Forms 1040, 
1040 A, and 1040B, and fiduciary returns, Form 1041, filed for income 
from estates and trusts. The data are tabulated from the returns as 
filed by the taxpayer, and prior to any revisions that may be made as 
a result of audit by the Bureau of Internal Revenue. Amended 
returns and tentative returns are not included in the tabulations. 

DATA TABULATED 

Data are tabulated from each of the following returns: (1) Individ- 
ual returns with net income of $5,000 and over, (2) individual returns 
with net income under $5,000 filed on Form 1040, which show income 
characteristics similar to those usually found on returns with net 
income of $5,000 and over, such as varied or unusual sources of income 
or large total income, (3) individual returns with no net income, 
Form 1040, and (4) fiduciary returns. The statistics pertaining to 
individual returns, Forms 1040 and 1040A, with net income under 
$5,000, except Forms 1040 specified in (2) above, represent estimates 
based on samples of such returns (see pages 14-15 for a description 
of the sample). 

Data for individual returns with net income of less than $1,000 or 
with no net income are included in Statistics of Income because of 
certain provisions of the revenue acts requiring that a return be filed 
(1) by every individual and married couple with gross income of 
$5,000 and over regardless of the amount of net income or deficit or 
marital status; (2) for every decedent covering the income period to 



STATISTICS OF INCOME 3 

date of death, if the gross income for the period is $5,000 and over; 
and (3) by taxpayers electing to change the accounting period (part- 
year returns). Also, one of the separate returns, which married persons 
may choose to file, may show net income of less than $1,000 or no 
net income. 

Data for fiduciary returns with net income of less than $1,000 or 
with no net income appear in this report because of the provisions that 
a return be filed for (1) the income from an estate or trust (a) with 
gross income of $5,000 and over irrespective of the amount of net 
income or deficit, (b) if any beneficiary is a nonresident alien, and 
(c) when the accounting period is changed (part-year returns), and 
(2) every trust with net income of $100 and over. 

CHANGES PROVIDED BY REVENUE ACT OF 1938 

The major changes provided by the Revenue Act of 1938, affect- 
ing individual and fiduciary income tax returns, as compared with the 
provisions of the Revenue Act of 1936, and that act as amended by 
the Revenue Act of 1937, are: (1) Revision of the treatment of net 
short-term gains or losses on the sale or exchange of capital assets 
held 18 months or less, whereby only the net short-term capital gain 
is taken into account in the computation of net income, and the net 
short-term capital loss (not in excess of net income for the year in 
which the loss is sustained) may be carried forward to the succeeding 
year and applied against the short-term capital gains not already 
offset by short-term capital losses in such succeeding year; (2) revision 
of the treatment of net long-term gains and losses on the sale or ex- 
change of capital assets held over 18 months, whereby only the follow- 
ing percentages of the net long-term gains and losses recognized upon 
the sale or exchange of capital assets are taken into account in com- 
puting net income: 66% percent if the capital assets were held over 18 
months but not over 24 months, and 50 percent if the capital assets 
were held over 24 months; and (3) the application of an alternative 
tax in the case of returns with net long-term capital gains and losses. 
Net long-term capital gains are included with other income subject 
to normal tax and surtax rates or are segregated and taxed at 30 per- 
cent, whichever method results in the lesser total tax. Net long-term 
capital losses are deducted from other income and a tax is computed, 
or 30 percent of such losses is credited against the tax computed on 
net income before deducting the net loss, whichever method results in 
the greater tax. A change provided by the Revenue Act of 1938 
affecting the fiduciary income tax returns filed for trusts is the allow- 
ance of a credit of $100 against net income, in lieu of a personal exemp- 
tion of $1,000 which, with some exceptions, was allowed trusts in 
1937. The provisions of the Revenue Act of 1938, affecting individual 
and fiduciary income tax returns, as well as the provisions of previous 
revenue acts, are summarized on pages 270-279 of this report. 

DEFINITIONS OF NET INCOME AND NO NET INCOME 

Individual returns. — "Net income" means the amount of gross 
income, as defined in the revenue acts effective for the year for which 
the returns are filed, in excess of the deductions claimed by the tax- 
payer under the provisions of the respective acts (item 20 on page 1 
of Form 1040, facsimile on page 290, and item 12 on page 1 of Form 
1040A, facsimile on page 286); and "No net income" or "Deficit" 



4 STATISTICS OF INCOME 

means excess of deductions over gross income. Credits allowed indi- 
viduals, such as personal exemption, credit for dependents, and credit 
for earned income, are not included in deductions. Net income and 
no net income or deficit for 1938 include net short-term gain and net 
long-term gain or loss from the sale or exchange of capital assets to 
the extent provided under the Kevenue Act of 1938, as well as net 
capital gain or loss reported on the small number of returns filed under 
the provisions of the Revenue Act of 1936. 

On returns with normal tax and surtax liabilities, net income subject 
to surtax means net income (item 20 on page 1, Form 1040, facsimile 
on page 290) after personal exemption and credit for dependents, 
and net income subject to the normal tax is surtax net income less 
(1) interest on Government obligations not wholly exempt from 
tax, (2) dividends on share accounts in Federal savings and loan 
associations, and (3) earned income credit. On returns with alterna- 
tive tax liability, ordinary net income (item 3, Schedule F on page 3 ; 
Form 1040, facsimile on page 292) is the base for the normal tax and 
surtax in the computation of the alternative tax. Ordinary net in- 
come means the net income excluding net long-term capital gain or 
loss. For returns with alternative tax liability see section of this 
report entitled "Tax Liability," page 5. 

Fiduciary returns.— In this report "Net income" for estates and 
trusts means net income taxable to the fiduciary (item 17 on page 1 
of Form 1041, facsimile on page 298) which is equal to gross income, as 
defined by law, in excess of the sum of (1) deductions claimed by the 
taxpayer and (2) amount distributable to beneficiaries. "No net 
income" or "Deficit" means the excess of the sum of (1) deductions 
claimed by the taxpayer and (2) amount distributable to beneficiaries 
over gross income. Deductions do not include the credit of $1,000 for 
personal exemption allowed an estate and the credit of $100, in lieu of 
the credit for personal exemption, allowed a trust. Net income and no 
net income or deficit for 1938 include net short-term gain and net 
long-term gain or loss from sale or exchange of capital assets to the 
extent provided under the Revenue Act of 1938 as well as net capital 
gain or loss reported on the small number of returns filed under the 
provisions of the Revenue Act of 1936. 

On returns with normal tax and surtax liabilities, net income subject 
to surtax means net income (item 17 on page 1 of Form 1041, facsimile 
on page 298) after the personal exemption of $1,000 allowed an estate 
and the credit of $100, in lieu of the credit for personal exemption, 
allowed a trust, and net income subject to normal tax is the surtax 
net income less the fiduciary's balance of (1) interest on Government 
obligations not wholly exempt from tax and (2) dividends on share 
accounts in Federal savings and loan associations. On returns 
with alternative tax liability, ordinary net income (item 3, Schedule 
E on page 3, Form 1041, facsimile on page 300) is the base for the 
normal tax and surtax in the computation of the alternative tax. 
Ordinary net income means the net income excluding net long-term 
capital gain or loss. For returns with alternative tax liability see 
section of this report entitled "Tax Liability," page 5. 

For definition of "Balance income" and "Balance deficit" used in 
basic tables 12, 13, and 15, see pages 50-51 in the section of this 
report entitled "Fiduciary income tax returns." 



STATISTICS OF INCOME 



TAX LIABILITY 



Normal tax and surtax liabilities are reported on individual and 
fiduciary returns filed (1) under the provisions of the Revenue Act of 
1938 with (a) no net long-term capital gain or loss or (6) net long-term 
capital gain or loss but no alternative tax liability and (2) under the 
provisions of the Revenue Act of 1936, as amended by the Revenue 
Act of 1937 (see second paragraph, page 2). 

Alternative tax liability is reported on individual and fiduciary 
returns filed under the provisions of section 117(c) of the Revenue 
Act of 1938, as follows: The alternative tax is imposed on returns with 
net long-term capital gain if such alternative tax is less than the sum 
of the normal tax and surtax computed on net income including net 
long-term capital gain, and the alternative tax is imposed on returns 
with net long-term capital loss if such alternative tax is greater than 
the sum of the normal tax and surtax computed on net income after 
deducting net long-term capital loss. Twenty-six individual returns 
with no net income show an alternative tax liability (see explanation, 
pages 21-22). 

Total tax, as tabulated in this report, means the sum of the normal 
tax, surtax, and alternative tax liabilities. The total tax liability 
represents an amount prior to the allowance of credits claimed for 
income tax paid at source and for income tax paid to a foreign country 
or United States possession. 

TAX LIABILITY AND COLLECTIONS 

The amount of tax liability as reported on the individual and fiduci- 
ary returns is not precisely comparable with the amount of income tax 
collections during the calendar year in which the returns are filed. 
Several factors are responsible for the difference in the taxes collected 
and the tax liability reported on the returns,, among which are the 
following: 

1. The amount of tax originally reported may have been sub- 
sequently revised as the result of audit of returns. The revisions 
may result in additional assessments, thereby increasing the tax 
liability, or in certificates of overassessment, representing abatements 
and credits, which reduce the tax liability originally reported. 

2. Income and profits taxes paid to foreign countries or possessions 
of the United States may be included in deductions from gross income 
or applied with certain limitations as a credit against the income tax 
payable to the United States. The amount of such taxes taken as a 
credit by individuals against the income tax liability to the United 
States has not been deducted from the amount of income tax liability 
shown in the tabulations in this report. The aggregate amounts of 
this credit, which are available only for individual returns for the 
years 1925-1930, inclusive, appear on page 9 of the Statistics of 
Income for 1930. 

3. Income taxes paid at the source on tax-free covenant bonds are 
deductible from income taxes payable by individuals and fiduciaries 
but they are not deducted in arriving at the income tax liability on 
individual and fiduciary returns shown herein. 

4. For fiscal year returns on which the tax is paid in four equal 
installments, the total tax liability may not be collected during the 
calendar year in which the returns are filed. 



6 STATISTICS OF INCOME 

5. Delays in tax payment due to financial embarrassment, death, 
liquidation of business, or any other cause, result in the classification 
of such taxes as "back taxes," the collection of which is made after 
the close of the year in which such taxes are due. For similar reasons, 
certain amounts are uncollectible. 

6. Collections in the current year include such interest and penalty 
items as are received in connection with delinquent payments of taxes. 

7. Tabulations in this report exclude data reported on individual in- 
come tax returns, Forms 1040C, 1040D, 1040NB, and 1040NB-a, 
whereas collections in the current year include taxes on these returns. 
Forms 1040C and 1040D are used for departing aliens. Forms 
1040NB and 1040NB-a are for nonresident aliens not engaged in 
trade or business within the United States and not having an office 
or place of business therein. 

GEOGRAPHIC DISTRIBUTION 

Income tax returns may be filed either in the collection district in 
which the individual or fiduciary resides or in which his principal place 
of business is located. Although the individual returns in this report 
are tabulated by the States in which they were filed (basic tables 1, 
1-A, 4, 6, and 9), the data do not represent the geographic distribution 
of the sources of income, as income reported by an individual in one 
State may have been derived from sources in other States. Similarly, 
the classification by States of the taxable fiduciary returns with net 
income (in basic tables 1 and 9) does not represent a geographic 
distribution of the sources of income. 

NET INCOME CLASSES 

For individual returns, the net income classes are based on the size 
of net income reported as item 20 on page 1 of Form 1040, facsimile 
on page 290, and as item 12 on page 1 of Form 1040A, facsimile on 
page 286. Net income means the amount of gross income less de- 
ductions (see page 3). A classification of individual returns with no 
net income by size of deficit is not shown in this report. 

In the text table on pages 10-11 and in basic tables 2, 3, and 7, pages 
82-91, 102-104, and 123-130 fiduciary returns are classified by size of 
net income taxable to the fiduciary (item 17 on page 1 of return, Form 
104 1 , facsimile on page 298) . Net income taxable to the fiduciary means 
gross income in excess of the sum of (1) deductions claimed by the 
taxpayer and (2) amount distributable to beneficiaries (see page 4). 
A classification of fiduciary returns with no net income taxable to the 
fiduciary by the size of this deficit is not shown in this report. 

CONTENT OF TABLES 

A summary of the content of the tables in this report showing data 
for individual returns and fiduciary returns for 1938 and the major 
changes in the presentation of data for these returns as compared 
withthose in Statistics of Income for 1937, Part 1, are given below. 
In later sections of this report each table is described in greater detail. 

Throughout this report, except the text table on pages 10-11 and basic 
tables 1,2, 3, and 7, pages 78-79, 82-91, 102-104, and 123-130 informa- 
tion for the 1938 individual returns is shown separately from that for 
fiduciary returns. Moreover, the majority of tables showing data for 
returns with net income also contain aggregate data for returns with no 



STATISTICS OF INCOME 7 

net income. In general, this report contains a more complete tabula- 
tion of aggregate information for individual returns with no net income 
than that in the Statistics of Income for 1928 through 1937 (for those 
years a limited amount of data was published in a separate section of 
the report, see page 30 and basic tables 10 and 11, pages 169 and 170, 
Statistics of Income for 1937, Part 1), but there is omitted from the 
current report the former classification of number of returns, sources 
of income, deductions, and deficit by size of deficit. 

The text table on pages 10-11 and basic tables 1, 2, 3, and 7, pages 
78-79, 82-91, 102-104, andl23-130, show certain composite data for in- 
dividual returns and taxable fiduciary returns with net income, as well 
as certain data for individual returns with no net income. Basic table 1 
contains a classification of the data by States and Territories. In the text- 
table on pages 10-11 and in basic tables 2, 3, and 7, pages 82-91, 102— 
104, and 123-1 30, composite data for individual and taxable fiduciary re- 
turns with net income are classified by size of net income, and data forin- 
idvidual returns with no net income are shown in aggregate. Thereason 
for presenting composite tables in this report is that the information 
they contain, relating to individual and taxable fiduciary returns with 
net income, is similar to that for 1937 in basic tables 1, 2, 3, and 1 ? 
pages 115-121 and 133-137, in Statistics of Income for 1937, Part I 
(for one minor exception see note 1 of basic tables 1, 2, 3, and 7). 

The text tables on pages 16-21, 25, and 28-33 and basic tables 1-A, 
2-A, 3-A, 4, 5, 6, and 7-A, pages 80-81, 92-101, 105-122, and 131-138, 
show data for individual returns with net income and with no net in- 
come (except that the text table on pages 20-21 and basic tables 4 and 
5, do not show data for returns with no net income) . Unlike text tables 
on pages 8- 10 and 12-16 and basic tables 1-7, pages 115-137, in Statistics 
of Income for 1937, Part 1, these tables exclude (1) data for taxable fidu- 
ciary returns with net income, Form 1041, and (2) taxable and nontax- 
able returns for estates and trusts incorrectly filed on Form 1040 instead 
of Form 1 04 1 . For individual returns with no net income aggregate data 
are shown in the text tables on pages 16-19, 25, and 28-33, and basic 
tables 2-A, 3-A, and 7-A, pages 92-101, 105-107, and 131-138, and 
a distribution by States and Territories is shown in basic table 1-A 
and 6. 

Basic table 8, pages 139-141, for individual returns with net income 
of $5,000 and over, filed by sole proprietors, shows the number of 
businesses with net profit or with net loss, total receipts, and amount 
of net profit or net loss, classified by a more detailed industrial classi- 
fication than that for prior years. Basic table 8 is substituted for the 
text table for sole proprietors which was published formerly (see 
pages 28-29, Statistics of Income for 1937, Part 1). The tabulation 
of number of businesses and amount of net profit or loss, cross-classi- 
fied by industrial groups and by size of net profit or loss from business 
has been discontinued (see basic table 8, pages 138-143, Statistics of 
Income for 1937, Part 1). 

The text table on pages 34-47, for individual returns with net 
income of $5,000 and over, showing the frequency distribution of 
selected sources of income and loss by net income classes and by size 
of each source of income or loss, has been expanded somewhat to 
include the following sources of income or loss: salaries and wages, 
dividends, partnership profit and loss, business profit and loss, net 
short-term capital gain, and net long-term capital gain and loss. 



8 STATISTICS OF INCOME 

Unlike the text tables on pages 17-26, Statistics of Income for 1937, 
Part 1, there are excluded from this table data for the following 
returns with net income taxable to the fiduciary of $5,000 and over: 
taxable returns, Form 1041, and taxable returns for estates and trusts 
incorrectly filed on Form 1040 instead of Form 1041. 

In basic table 9, pages 142-167, there are shown number of returns, 
net income, and total tax for individual returns with net income, 
classified by States and Territories and by net income classes, and 
number of returns, deficit, and total tax for individual returns with 
no net income, classified by States and Territories. Attention is 
called to the fact that unlike basic table 9, pages 144-168, in Statistics 
of Income for 1937, Part 1, the data for individual returns with net 
income, distributed by net income classes, in basic table 9 in this 
report exclude data for taxable fiduciary returns with net income, 
Form 1041, and taxable and nontaxable returns for estates and trusts 
incorrectly filed on Form 1040 instead of Form 1041. In order that 
the current year data be made comparable with the historical summary 
presented in the table, there are shown composite data for 1938 indi- 
vidual returns and taxable fiduciary returns with net income classified 
by States and Territories. 

Data for fiduciary returns are presented in basic tables 10-13, 
pages 171-193. Basic tables 10 and 11 show, for the first time, by net 
income classes, data for fiduciary returns with net income taxable to 
the fiduciary, and aggregate data for fiduciary returns with no net 
income. Basic tables 12 and 13, showing sources of income and 
deductions by balance income and balance deficit classes, are similar 
to basic tables 12 and 13, pages 173-178, in Statistics of Income for 
1937, Part 1. Basic table 12 contains data for fiduciary returns with 
net income taxable to the fiduciary, and basic table 13 contains data 
for fiduciary returns with no net income. 

Basic tables 14-16 show amount of Government obligations owned 
and the interest received on such obligations, segregated by nature of 
obligations and by income classes. Data in basic table 14 are for 
individual returns with net income of $5,000 and over, classified by 
size of net income. Data in basic tables 15 and 16 are for fiduciary 
returns with net income taxable to the fiduciary showing a balance 
income of $5,000 and over. In basic table 15 the data are classified 
by size of balance income and in basic table 16 by size of net income 
taxable to the fiduciary. Basic table 14 of this report is similar to 
basic table 14, pages 181-182, in the Statistics of Income for 1937, 
Part 1, except that there are excluded data for the following returns 
with net income of $5,000 and over taxable to the fiduciary: taxable 
returns, Form 1041, and taxable returns for estates and trusts incor- 
rectly filed on Form 1040 instead of Form 1041. Basic table 15 
contains 1938 data for the same fiduciary returns, classified by size of 
balance income, as were published for 1937 in basic table 15, pages 
183-184, in Statistics of Income for 1937, Part 1. In basic table 16 
the data for fiduciary returns with net income and with balance 
income of $5,000 and over, classified by size of net income taxable to 
the fiduciary, are shown separately for the first time. 



STATISTICS OF INCOME 9 

COMPARABILITY WITH PREVIOUS REPORTS 

In various sections of this report attention is directed to changes in 
methods of tabulation and in provisions of the revenue acts under 
which returns for given years are filed which interfere with precise 
comparability of the data over a period of years. The major pro- 
visions of the revenue acts from 1913 to date are summarized on 
pages 270-279. 

The content of the tables in this report as compared with those in 
Statistics of Income for 1937, Part 1, are given in the preceding 
section of this report entitled "Content of tables," pages 6-8. 

INDIVIDUAL INCOME TAX RETURNS AND TAXABLE FIDUCIARY IN- 
COME TAX RETURNS WITH NET INCOME (ALSO INDIVIDUAL INCOME 
TAX RETURNS WITH NO NET INCOME) 

As stated on page 7 in the section of this report entitled "Content 
of tables," the text table on pages 10-11 and basic tables 1, 2, 3, 
and 7, pages 78-79, 82-91, 102-104, and 123-130, show certain com- 
posite data for individual returns and taxable fiduciary return with 
net income, as well as certain data for individual returns with no net 
income. Definitions of net income, no net income, and tax are given 
on pages 3-5, the method of estimating data for individual returns 
with net income under $5,000 and definitions of sources of income 
and deductions are found on pages 14-15 and 24-28, and the method 
of tabulating fiduciary returns is on pages 49-54. 

In basic tables 1, 2, 3, and 7 the information for individual and 
taxable fiduciary returns with net income is shown for the same 
returns as that for 1937 in basic tables 1, 2, 3, and 7, pages 115-121 
and 133-137, in Statistics of Income for 1937, Part 1, with one minor 
exception, explained in the following paragraph. 

For both 1938 and 1937 taxable fiduciary returns with net income 
consist of those filed on Form 1041 and those incorrectly filed on 
Form 1040 instead of Form 1041. However, for the 1938 returns for 
estates and trusts incorrectly filed on Form 1040 instead of Form 1041, 
an adjustment for statistical purposes was made for the majority of 
these returns, whereby the "Amount distributable to beneficiaries," 
if any, was removed from "Other deductions" and "Total deductions" 
and the income prior to distribution to beneficiaries ("Balance in- 
come") was computed in order that data for estates and trusts on 
these incorrectly filed returns might be tabulated with the data re- 
ported on fiduciary returns, Form 1041. For the small number of 
such returns for which this adjustment was not made "Other deduc- 
tions" and "Total deductions" include "Amount distributable to 
beneficiaries" (if any). The minor difference between the 1938 and 
1937 data, referred to in the preceding paragraph, consists of the 
exclusion, for 1938, of nontaxable returns with net income for estates 
and trusts incorrectly filed on Form 1040 instead of Form 1041. For 

1937, these incorrectly filed nontaxable returns with net income, 
which numbered 3,784, were tabulated as individual returns, but for 

1938, these returns, which number only 276, are tabulated in this re- 
port as fiduciary returns. Therefore, data for these incorrectly filed 
nontaxable returns, which are tabulated with other nontaxable returns 
correctly filed on Form 1041, are not included in these tables (see 
page 50 of the section of this report entitled "Fiduciary Income Tax 
Returns"). 



10 



STATISTICS OF INCOME 



Individual returns and taxable fiduciary returns with net income, 1 by net income 
returns), 1938: number of returns, net income, 'personal exemption, credit for 



Net income 3 classes 
T(housands of dollars) 



(1) 



Individual returns and taxable fiduciary 
returns 3 with net income: 

Under 5 (estimated) 7 ___ 

Under 5 (estimated) 

5 under 6 7 __ 

5 under 6 _ 

6 under 7 

7 under 8 

8 under 9 _. 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 

4,000 under 5,000__ 

5,000 and over 

Nontaxable returns 7 

Taxable returns.. 

Total individual returns and tax- 
able fiduciary returns with net 
income 

Individual returns with no net income: 

Nontaxable 9 

Taxable » 



Total individual returns with no 
net income 



Grand total . 



Number of 
returns 



(2) 



3, 154, 446 

2, 456, 765 

666 

164, 502 

102, 956 

66, 758 

46, 226 

34, 488 

25, 922 

20, 577 

16, 566 

13, 479 

11,346 

35, 032 

17,859 

10, 207 

10, 814 

5,315 

2,943 

1,775 

1,144 

841 

556 

1,326 

420 

229 

117 

142 

65 

81 

37 

30 

16 

6 

1 

1 

3 



3,155,112 
3, 048, 545 



6, 203, 657 



100, 207 
26 



100, 233 



6, 303, 890 



Net income 3 



(3) 



$6, 222, 

5, 876, 

3, 

898, 

665, 

498. 

391, 

326, 

271, 

236, 

206, 

181, 

164, 

601, 

397, 

278, 

370, 

236, 

160, 

114, 

85, 

71, 

52, 

158, 

72, 

50, 

31, 

49, 

29, 

49, 

32, 

37, 

27, 

15, 

3, 

4, 

21, 



282, 985 
902,819 
553, 832 
085, 421 
222, 127 
251,912 
923, 655 
855, 706 
631,437 
256, 433 
723, 924 
826, 257 
343, 500 
551, 619 
446, 278 
699, 824 
977, 888 
719, 777 
693, 379 
704, 074 
416, 671 
254, 776 
699, 076 
413, 072 
545, 228 
745, 408 
706, 437 
350, 256 
091, 252 
096, 100 
299, 944 
582, 974 
625, 269 
292, 558 
524, 972 
273, 201 
803, 582 



Personal ex- 
emption * 



(i) 



18, 897, 373, 623 



»° 352, 752, 145 
io 1, 403, 649 



io 354, 155. 794 



ii 18, 543, 217, 829 



$6, 640, 

3, 501, 

1, 

359, 

226, 

142, 

97, 

72, 

54, 

42, 

34, 

27, 

23, 

71, 

35, 

20, 

21, 

10, 

5, 

3, 

2, 

1, 

1, 



024, 448 
833, 950 
652, 854 
175, 065 
604, 104 
927, 880 
888, 976 
295, 255 
158, 439 
558, 849 
255, 160 
874, 439 
338, 674 
658, 219 
997, 700 
282, 403 
351, 054 
360, 300 
700, 903 
440, 150 
246, 596 
611,333 
021,017 
492, 308 
794, 484 
429, 040 
219, 388 
248, 700 
118, 175 
152,325 
59. 300 
56, 925 
31, 950 
10, 100 
1,250 
1,000 
6.000 



11,402,878,713 



(12) 



49,000 



(12) 



(12) 



Credit for 
dependents 
(individual 

returns) 



(5) 



1,047,176,533 

222, 660, 417 

1, 558, 667 

73, 398, 038 

45, 159, 910 

29, 974, 451 

20, 300, 352 

14, 781, 138 

10, 887, 797 

8, 656, 436 

7, 030, 816 

5, 671, 524 

4, 763, 019 

14, 625, 462 

7. 158, 342 

4, 100, 621 

4,211,049 

2, 017, 714 

1,112,891 

691, 529 

431, 272 

307, 177 

186,470 

423, 198 

123, 265 

67, 933 

38, 233 

27, 501 

15, 632 

18, 967 

4,367 

8,300 

3, 467 

400 



1, 048, 735, 200 
478, 858, 488 



1, 527, 593, 688 



(12) 



6,400 



(12) 



(12) 



i This table contains data for individual returns with net income and with no net income and for taxable 
fiduciary returns with net income. See basic table 2, pp. 82-91, for a more detailed tabulation of the data 
by returns with no alternative tax, and with alternative tax, and data for returns with net income under 
$5,000, by net income classes. 

2 For general explanations, see pp. 1-6 and 14-15. 

3 For taxable fiduciary returns the net income used for classification and tabulation is the net income 
taxable to the fiduciary (item 17 on p. 1, Form 1041, facsimile on p. 298). 

4 On fiduciary returns an estate is allowed the personal exemption of $1,000 allowed a single person and a 
trust is allowed, in lieu of the personal exemption, a credit of $100 against net income. 

5 Consists of (1) returns with no net long-term capital gain or loss, and (2) returns with net long-term 
capital gain or loss which have no alternative tax. 

o The alternative tax is imposed on returns with net long-term capital gain if such alternative tax is less 
than the sum of the normal tax and surtax computed on net income including net long-term capital gain. 
The alternative tax is imposed on returns with net long-term capital loss if such alternative tax is greater 
than the sum of the normal tax and surtax computed on net income after deducting net long-term capital 
loss. 



STATISTICS OF INCOME 



11 



classes, also aggregate for individual returns with nonet income (excluding fiduciary 
dependents, earned income credit, tax, average tax, and effective tax rate 2 



Earned in- 
come credit 
(individual 

returns) 

(6) 




Tax 




Returns 


Average 

total tax 

(Col. 7-J-2) 

(12) 


Effective 
tax rate, 


Total tax 
(Col. 8+11) 

(7) 


Returns with no alternate tax f 


percent 
(return:; 
with net 


Total 
(Col. 9+10) 

(8) 


Normal tax 

(9) 


Surtax 

(10) 


with alter- 
native tax 6 

(ID 


income) 
(Col. 

7H-3) 

(13) 


$453, 049, 810 

556, 970, 854 

245, 705 

76, 256, 344 

56,661,114 

38, 466, 964 

31, 067, 738 

23, 514, 190 

18,931,150 

16, 053, 410 

13, 714, 220 

11, 970, 803 

10, 379, 888 

32, 427, 832 

16, 762, 319 

9, 689, 430 

10, 345, 326 

5, 128, 511 

2, 854, 532 

1, 740, 847 

1, 142, 198 

808, 942 

517,792 

1, 228, 348 

379, 136 

200, 101 

102, 661 

108, 157 

55, 285 

51, 182 

23, 224 

26, 407 

9,500 

2, 300 

860 

1,400 

900 
















$63, 629, 748 


$63, 479, 028 


$63, 390, 295 


$88, 733 


$150, 720 


$26 


1.08 


16, 182, 183 
14, 945, 000 
13, 983, 479 

13, 490, 680 
13, 052, 771 
12, 184, 690 
11,667,118 
11, 035, 616 
10, 468, 638 
10, 042, 678 
42, 872, 018 
35, 891, 180 
30, 851, 963 
50, 314, 148 
39, 428, 145 
31, 823, 724 
26, 232, 159 
21, 942, 470 
20, 457, 515 
16, 533, 381 
58, 224, 181 
30, 892, 337 
23, 644, 277 
15, 207, 302 
25, 041, 152 

14, 791, 233 
25, 881, 612 
16, 470, 934 
17, 154, 201 
13, 442, 406 

6, 606, 032 
2, 561, 584 
1, 606, 967 
6, 664, 068 


16, 165, 364 
14, 945, 000 
13, 983, 479 
13, 458, 338 
13,031,418 
12, 164, 378 
11,664,683 
11, 030, 647 
10, 401, 736 
10, 042, 678 
42, 691, 714 
35, 725, 630 

30, 574, 475 
-19,176,077 

31, 709, 216 
17, 192, 747 
12, 226, 371 
10, 127, 966 

7, 623, 755 
5, 984, 659 
17, 414, 805 
7, 572, 969 
4, 276, 797 
2, 816, 699 
6, 471, 338 
3, 252, 979 
2, 903, 666 
3, 583, 200 
1, 907, 557 
1, 225, 838 
1, 485, 442 


15, 574, 146 
13, 599, 307 
11,370,192 
9, 698, 598 
8, 559, 650 
7, 422, 592 

6, 687, 595 
6, 005, 356 
5, 392, 376 
4, 987, 345 

19, 098, 098 
13, 336, 156 
9, 629, 985 
13, 062, 482 

7, 172, 084 
3, 354, 677 
2, 099, 500 
1, 538, 603 
1, 034, 618 

738, 863 

1, 818, 780 

656, 903 

337, 896 

212, 137 

455, 388 

216, 408 

180, 339 

213, 404 

108, 291 

68,250 

81, 766 


591, 218 

1, 345, 693 
2, 613, 287 

3, 759, 740 
4, 471, 768 

4, 741, 786 
4, 977, 088 
5, 025, 291 
5, 009, 360 
5, 055, 333 

23, 593, 616 
22, 389, 474 
20, 944, 490 
36,113,595 

24, 537, 132 
13, 838, 070 
10, 126, 871 

8, 589, 363 
6, 589, 137 

5, 245, 796 
15, 596, 025 

6,916,066 
3, 938, 901 
2, 604, 562 
6,015,950 
3,036,571 

2, 723, 327 

3, 369, 796 
1, 799, 266 
1, 157, 588 
1, 403, 676 


16, 819 


98 

145 

209 

292 

378 

470 

567 

666 

777 

885 

1,224 

2, 010 

3,023 

4,653 

7,418 

10, 813 

14, 779 

19, 180 

24, 325 

29, 736 

43, 910 

73, 553 

103, 250 

129, 977 

176, 346 

227, 557 

319, 526 

445, 160 

571, 807 

840, 150 

1,101,005 

2, 561, 584 

1, 606, 967 

2, 221, 356 


1.80 
2.25 




2.81 


32, 342 
21, 353 
20, 312 
2,435 
4,969 
66.902 


3.44 
3.99 
4.49 
4.94 
."». 34 
5.76 
6.11 


180, 304 
165, 550 
277, 488 
1, 138, 071 
7, 718, 929 
14,630,977 
14, 005, 788 
11,814,504 
12, 833, 760 

10, 548, 722 
40, 809, 376 
23, 319, 368 
19, 367, 480 
12, 390, 603 
18, 569, 814 

11, 538, 254 
22, 977, 946 
12, 887, 734 
15, 246, 644 

12, 216, 568 
5, 120, 590 
2, 561, 584 
1,606,967 
6, 664, 068 


7.13 
9.03 
11.07 
13. 56 
16.66 
19.80 
22.87 
25.69 
28.71 
31.37 
36.75 
42.58 
46.59 
47.96 
50.74 
50.84 
52. 72 
50.99 
45.64 
48.66 
43. 20 
72. 67 








37.61 








30. 56 










453, 295, 515 
937, 593, 865 
















765, 217, 590 


486, 310, 649 


228, 102, 080 


258, 208, 569 


278, 906, 941 


251 


6.04 


1,390,889,380 


765, 217, 590 


486, 310, 649 


228. 102, 080 


258, 208, 569 


278. 906, 941 


123 


4.05 


















14, 848 


615, 251 








615, 251 


23, 664 














615, 251 








615, 251 


(13) 
















765, 832, 841 


486, 310, 649 


228, 102, 080 


258, 208, 569 


279, 522, 192 


(13) 









7 Nontaxable individual returns. Exemptions from normal tax and surtax exceed net income. A neg- 
ligible number of nontaxable individual returns in net income classes of $6,000 and over is not tabulated 
separately. 

s Includes returns with zero net income (total income equals total deductions). 

e Returns with net long-term capital loss on which the tax, computed on net income before the deduction 
of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

"> Deficit. 

11 Net income less deficit. 

12 Not available. 

13 Average total tax not computed. 



299429—41- 



12 STATISTICS OF INCOME 

NUMBER OF RETURNS, NET INCOME, AND TAX 

The number of returns, net income or deficit, tax, average total 
tax, and effective tax rate are shown in the preceding table for indi- 
vidual returns and taxable fiduciary returns with net income, and for 
individual returns with no net income. The combined data for 
individual returns and taxable fiduciary returns with net income are 
classified by size of net income, and data for individual returns with 
no net income are presented in aggregate. 

The number of individual returns and taxable fiduciary returns with 
net income is 6,203,657, of which 3,048,545 are taxable and 3,155,112 
nontaxable. Aggregate net income is $18,897,373,623, of which 
$12,671,536,806 is reported on taxable returns and $6,225,836,817 on 
nontaxable returns. The tax liability on the 3,048,545 taxable 
individual and fiduciary returns with net income is $765,217,590. 
The average tax liability on all individual and fiduciary returns with 
net income is $123, effective tax rate 4.1 percent; and on taxable 
individual and fiduciary returns with net income the average tax 
liability is $251, effective tax rate 6.0 percent. The number of indi- 
vidual returns with no net income is 100,233 and the deficit is 
$354,155,794. Twenty-six individual returns with no net income 
show an alternative tax liability of $615,251 (see pages 21-22). 

With one minor exception relating to nontaxable returns, which is 
stated on page 9, the 1938 and 1937 data for the individual returns 
and taxable fiduciary returns with net income are comparable. As 
compared with 1937 data, the total number of individual returns and 
taxable fiduciary returns with net income, shown in the table on 
pages 10-11 and in basic tables 1, 2, and 3, pages 78-79, 82-91, and 
102-104, respectively, decreased 146,491, or 2.3 percent; the number of 
taxable returns decreased 322,898, or 9.6 percent; and the number of 
nontaxable returns increased 176,407, or 5.9 percent. Aggregate net 
income decreased $2,341,200,540, or 11.0 percent, the net income on 
taxable returns decreased $2,592,625,611, or 17.0 percent, and the net 
income on nontaxable returns increased $251,425,071, or 4.2 percent. 
The total tax liability (omitting for this comparison the tax on the 
26 individual returns with no net income) decreased $376,351,154, or 
33.0 percent. The effective tax rates for 1937, which were somewhat 
higher than those for 1938, were 5.4 percent for all returns and 7.5 
percent for taxable returns. 

Basic table 2, pages 82-91, show data for the returns in the 
preceding table, classified in greater detail. Returns with no alter- 
native tax (Part II, pages 84-85) are shown separately from those 
with alternative tax (Part III, pages 86-91) and returns with 
alternative tax are further classified into those with net long-term 
capital gain and with net long-term capital loss. In all parts of basic 
table 2, six net income classes are used for returns with net income 
under $5,000. The information for individual returns and taxable 
fiduciary returns with net income, in basic table 2 of this report, is 
shown for the same returns, with the one exception stated on page 9, 



STATISTICS OF INCOME 13 

as in basic table 2, pages 117-118, Statistics of Income for 1937, Part 
1 ; but because of the alternative tax, effective for the first time under 
the provisions of the Kevenue Act of 1938, basic table 2 in this report 
has been expanded to show more classifications and items than were 
applicable for 1937. 

In basic table 1, pages 78-79, the number of returns, net income or 
deficit, and tax are shown, by States and Territories, for the individual 
returns and taxable fiduciary returns with net income, and for indi- 
vidual returns with no net income. In basic table 3, pages 102-104, 
simple and cumulative totals and percentages of the number of returns, 
net income, and tax are shown for individual returns and taxable 
fiduciary returns with net income, by net income classes, and aggregate 
data are presented for individual returns with no net income. The 
data for individual returns and taxable fiduciary returns with net 
income in basic tables 1 and 3 are comparable, with one minor excep- 
tion stated on page 9, with data for 1937 in basic tables 1 and 3, 
respectively, pages 115-116 and 119-121, in Statistics of Income for 
1937, Part'l. 

SOURCES OF INCOME AND DEDUCTIONS 

In basic table 7, pages 123-130, there are presented the sources of 
income and deductions reported on individual returns and taxable 
fiduciary returns with net income, and on individual returns with no 
net income. The combined data for individual returns and taxable 
fiduciary returns with net income are classified by net income classes 
and aggregate data are presented for individual returns with no net 
income. The data for individual returns and taxable fiduciary returns 
with net income in basic table 7 are comparable, with one minor excep- 
tion stated on page 9, with data for 1937 in basic table 7, pages 133- 
137, in Statistics of Income for 1937, Part 1. 

There is shown separately for the first time the amount distributable 
to beneficiaries reported on taxable fiduciary returns contained in basic 
table 7 (except for a small number of fiduciary returns incorrectly 
filed on Form 1040, see footnote 17, basic table 7, page 130). Some of 
this amount distributable to beneficiaries, reported on taxable fiduciary 
returns and shown in basic table 7, is also tabulated in basic table 7 
as certain sources of income for individual returns filed by bene- 
ficiaries and for certain taxable fiduciary returns filed for estates and 
trusts which are recipients of an amount distributable. The items 
in basic table 7, which may include some of amount distributable to 
beneficiaries, are: "Income from fiduciaries," "Taxable interest on 
partially tax-exempt Government obligations," and "Net short- 
term and long-term capital gain" (if distribution consists of net 
capital gain from a "Common trust fund") and "Total income." 
However, this duplication of data represents a negligible percentage 
of total income or net income shown in basic table 7. For explana- 
tion of method of reporting distributions to beneficiaries, see section 
of this report entitled "Fiduciary Income Tax Returns," pages 52-54. 



14 STATISTICS OF INCOME 

INDIVIDUAL INCOME TAX RETURNS WITH NET INCOME AND WITH 
NO NET INCOME (EXCLUDING FIDUCIARY INCOME TAX RETURNS) 

The two major changes in data for individual returns presented in 
text tables on pages 16-19, 25, and 28-33 and in basic tables 1-A, 2-A, 
3-A, 4, 5, 6, and 7-A, as compared with 1937 data shown in the text 
tables on pages 8 and 12-26 and in basic tables 1-7, pages 115-137, in 
Statistics of Income for 1937, Part 1, are as follows: (1) Information 
is excluded for taxable fiduciary returns with net income, Form 1041, 
and for taxable and nontaxable returns for estates and trusts incor- 
rectly filed on Form 1040 instead of Form 1041, and (2) information 
is shown, in aggregate, for individual returns with no net income 
(except in basic tables 4 and 5, pages 108-115). The data for 
individual returns with no net income were formerly shown in sepa- 
rate tables (see pages 30 and 169-170 in Statistics of Income for 1937, 
Part 1). For changes in basic table 9, as compared with 1937 data 
in basic table 9, pages 144-168, Statistics of Income for 1937, Part 1, 
see section of this report entitled "Content of Tables," page 8. 

The 1938 data for fiduciary returns are shown in this report in basic 
tables 10-13, pages 171-193. Composite data for certain items and 
classifications for individual returns and taxable fiduciary returns 
with net income are shown in the text table on pages 10-11 and in 
basic tables, 1, 2, 3, and 7, pages 78-79, 82-91, 102-104, and 123-130. 

ESTIMATE OF DATA FOE CERTAIN RETURNS WITH NET INCOME UNDER $5,000 

All individual returns, Form 1040, are sent to Washington for 
administrative action. The Statistical Section tabulates completely 
all Forms 1040 with net income of $5,000 and over and all Forms 1040 
with net income under $5,000 showing income characteristics similar 
to those usually found on returns with net income of $5,000 and over, 
such as varied and unusual sources of income or large total income 
(which number approximately 232,000). The remaining returns, 
Form 1040, with net income under $5,000, are sampled and estimates 
of data are computed. Individual returns, Form 1040A, are retained 
in the collection districts, except that (1) all such returns with net 
income of $5,000 and over are forwarded to the Statistical Section to 
be tabulated completely, and (2) a sample of the returns with net 
income under $5,000 is forwarded to the Statistical Section and esti- 
mates of data are computed. 

The sample of the 1938 individual returns with net income under 
$5,000 consists of (1) approximately 265,000 returns, Form 1040, 
representing 18.65 percent of the total number of taxable and non- 
taxable returns, Form 1040, with net income under $5,000 after 
deducting those showing income characteristics similar to those 
usually found in returns with net income of $5,000 and over, and (2) 
approximately 785,000 returns, Form 1040A, representing 20.05 
percent of the total number of taxable and nontaxable returns, Form 
1040A, with net income under $5,000. 



STATISTICS OF INCOME 15 

For each collection district the minimum number of Forms 1040 in 
the sample is 2,000 taxable and 2,000 nontaxable returns and the 
minimum number of Forms 1040A in the sample is 2,000 taxable and 
2,000 nontaxable returns, or 20 percent of the total number of taxable 
and nontaxable returns filed on Form 1040 A with net income under 
$5,000, whichever is larger. If less than 2,000 taxable or 2,000 non- 
taxable returns, Form 1040 or Form 1040 A, are filed in a collection 
district, information is tabulated from the entire number filed. 

Estimates, by States, are made separately for the four following 
categories of returns: Forms 1040, taxable and nontaxable, and 
Forms 1040 A, taxable and nontaxable. The total number of returns 
filed in each of the four categories in each State is obtained from 
records of the Bureau of Internal Revenue. From the total number 
of returns filed for each category, there is subtracted the number of 
returns tabulated completely by the Statistical Section. The re- 
mainder in each category is the number of returns with net income 
under $5,000 for which estimates are computed. For each State 
and for each of the four categories of returns, estimates of data for 
each net income class are secured by applying to the sample in each 
net income class the appropriate ratio of the number of returns in 
the sample with net income under $5,000 to the remainder of returns 
with net income under $5,000, computed as stated above. Published 
data for each net income class for returns with net income under 
$5,000 consist of the combination of these estimates with data for 
returns, Form 1040, with net income under $5,000 which are tabu- 
lated completely. 

For the returns with net income under $5,000 the number of returns 
on which each specific source of income and deduction is reported, 
by net income classes, is not estimated for 1938. For 1937, such 
data were presented in basic table 7, pages 133-137, Statistics of 
Income for 1937, Part 1. 

NUMBER OF RETURNS, NET INCOME, AND TAX 

The number of returns, net income or deficit, tax, average total 
tax, and effective tax rate are shown in the following table for indi- 
vidual returns with net income and with no net income. The data 
for individual returns with net income are classified by size of net 
income and aggregate data are presented for individual returns with 
no net income. 

The total number of individual returns is 6,251,009, of which 
6,150,776 are returns with net income and 100,233 are returns with 
no net income. Of the 6,150,776 returns showing a net income of 
$18,660,929,186, there are 2,995,664 taxable returns and 3,155,112 
nontaxable returns. The total tax liability is $726,734,864, of which 
$462,260,874 is the normal tax and surtax reported on taxable returns 
with no alternative tax, and $264,473,990 is the alternative tax 
reported on 6,605 returns with alternative tax. (Twenty-six returns 
with no net income show alternative tax, see pages 21-22.) The average 
tax liability on all individual returns with net income is $118 and on 
taxable individual returns is $242. The effective tax rate is 3.9 
percent for all individual returns, and 5.S for all taxable individual 
returns. 



16 



STATISTICS OF INCOME 



Individual returns l with net income (excluding fiduciary returns), by net income 
ciary returns), 19SS: number of returns, net income, personal exemption, credit 



Net income classes 
(Thousands of dollars) 

(1) 


Number of 
returns 

(2) 

3,154,446 
2, 412, 785 
666 
162, 978 
101,823 
65. 960 
45, 575 
33, 929 
25, 458 
20. 251 

16, 266 
13, 235 
11, 095 
34, 247 

17, 388 
9,868 

10, 457 

5,105 

2,809 

1,697 

1.112 

800 

526 

1,249 

395 

219 

103 

124 

5S 

71 

31 

27 

14 

4 

1 

1 

3 


Net income 

(3) 

$6, 222, 282, 985 

5, 821, 002, 620 

3, 553, 832 

889, 763, 586 

657, 877, 449 

492, 287, 834 

386, 388, 754 

321, 550, 943 

266, 761, 012 

232, 507, 440 

202, 986, 079 

178, 534, 829 

160, 702, 492 

588, 056, 167 

386, 936, 217 

269, 467. 718 

358, 598, 886 

227, 370, 635 

153, 281, 985 

109, 588, 444 

83, 032, 219 

67,747,331 

49, 853, 357 

149, 052, 0S4 

68, 055, 899 

48, 536, 006 

27, 861, 894 

42, 957, 843 
26, 073, 525 

43, 412, 282 
27,177,682 
33, 592, 338 
24, 189, 917 
10, 284, 547 

3, 524, 972 

4, 273, 201 
21, 803, 5S2 


Personal 

exemption 

(4) 


Credit for 
dependents 

(5) 

$1, 047, 176, 533 

222, 660, 417 

1, 558, 667 

73, 398, 038 

45,159,910 

29, 974. 451 

20, 300, 352 

14, 781, 138 

10, 887, 797 

8, 656, 436 

7, 030, 816 

5, 671, 524 

4,763,019 

14, 625, 462 

7, 158, 342 

4, 100, 621 

4,211,049 

2,017,714 

1,112,891 

691, 529 

431, 272 

307, 177 

186, 470 

423, 198 

123, 265 

67, 933 

38, 233 

27, 501 

15, 632 

18, 967 

4,367 

8,300 

3,467 

400 


Returns with net income: 


$6, 640, 024, 448 
3, 488, 234, 591 

1, 652, 854 
358, 338, 599 
226, 026, 204 
142, 484, 630 

97, 523, 442 
72, 013, 422 
53, 932, 289 
42, 393, 049 

34, 108, 744 
27, 748, 639 
23, 231, 674 
71, 266, 986 

35, 770, 800 
20, 129, 703 
21, 208, 473 
10, 265, 500 

5, 647, 886 
3, 400, 150 

2, 233, 496 
1, 597, 333 
1,011,717 
2, 460, 308 

782, 084 

423, 540 

211, 688 

241,500 

113,875 

148, 625 

56,000 

56, 625 

31, 750 

10.000 

1, 250 

1,000 

6, 000 








6 under 7 


7 under 8 

8 under 9-. ... . ... __ ._ . 


9 under 10 


10 under 11 


11 under 12_ _ _ __ _ __ 


12 under 13 


13 under 14. .. 


14 under 15 .. 


15 under 20 


20 under 25 


25 under 30._ . 


30 under 40 


40 under 50__. 


Sounder 60 


60 under 70. . . 


70 under 80 


80 under 90 


90 under 100 


100 under 150 


150 under 200. .. 


200 under 250 


250 under 300 


300 under 400 


400 under 500 


500 under 750 


750 under 1,000 


1,000 under 1,500 


1,500 under 2,000 . . 


2,000 under 3,000 


3,000 under 4,000 


4,000 under 5,000 . 




5,000 and over 


800 




Nontaxable returns 5 


3,155,112 
2, 995, 664 


6, 225, 836, 817 
12, 435, 092, 369 


6, 641, 677, 302 
4,743,111,574 


1, 048, 735, 200 
478, 858, 488 






Total individual returns with net 
income. 


6, 150. 776 


18, 660, 929, 186 


11.384.788,876 


1, 527, 593, 688 


Returns with no net income: 

Nontaxable 8 . . 


100. 207 
26 


8 352, 752, 145 
« 1, 403, 649 


(10) 

49, 000 


(10) 

6,400 


Taxable 7 




Total individual returns with no 
net income. 


100, 233 


8 354, 155, 794 


(10) 


(10) 




6, 251, 009 


» 18, 306, 773, 392 


(10) 


(10) 





i Unlike basic table 2 in Statistics of Income for 1937, Part 1 (pp. 117-118), this table excludes taxable fidu- 
ciary returns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts incor- 
rectly filed on Form 1040 instead of Form 1041. Data for individual returns with no net income are included 
in this table for the first time. See basic table. 2-A (pp. 92-101) for a classification of the data by returns with 
no alternative tax and with alternative tax and data for returns with net income under $5,000, by net income 
classes. 

2 For general explanations, see pp. 1-6 and 14-15. 

3 See footnote 5, p. 10. 
< See footnote 6, p. 10. 



STATISTICS OF INCOME 



17 



classes, also aggregate for individual returns with no net income (excluding fidu- 
for dependents, earned income credit, tax, average lax, and effective tax rate 2 



Earned 

income 
credit 

(6) 


Total tax 
(Col. 8+11) 

(7) 


Tax 
Returns with no alternative tax 3 


Returns 
with alter- 
native lax 4 

(11) 


Weras;e 

tola! tax 
(Col. 7-^2) 

(12) 


Effective 
tax rate, 
percent 
(returns 
with net 
income) 
(Col. 7 -: 3) 

(13) 


Total 
(Col. 9+10) 

(8) 


Normal tax 
(9) 


Surtax 

(101 


$453, 049, 810 

556, 970, 854 

245. 705 

76, 256, 344 

56,661,114 

38, 466, 964 

31,067,738 

23, 514, 190 

18,931,150 

16, 053, 410 

13, 714, 220 

11,970,803 

10, 379, 888 

32, 427, 832 

16, 762, 319 

9, 689, 430 

10, 345, 326 

5,128,511 

2, 854, 532 

1, 740, 847 

1, 142, 198 

808, 942 

517, 792 

1, 228, 348 

379, 136 

200, 101 

102, 661 

108, 157 

55, 285 

51, 182 

23, 224 

26, 407 

9,500 

2,300 

860 

1,400 

900 








$61, 950, 566 


$61, 799, 846 


$61, 727, 243 


$72, 603 


$150, 720 


$26 


1.06 


15, 837, 305 
14, 589, 806 
13, 668, 109 
13, 173, 777 
12, 722, 903 
11,861,734 
11, 405, 950 
10,761,977 
10, 218, 299 
9, 750, 715 
41,680,815 
34, 756, 480 
29, 689, 323 
48, 454, 013 
37, 772, 697 
30, 284, 681 
25, 024, 318 
21,310,484 
19, 421, 852 
15, 664, 294 
54,872,431 
29, 121, 566 
22, 720, 083 
13,399,897 
21, 805, 563 
13, 120, 247 
23, 309, 073 
14, 342, 882 
15, 958, 166 
12, 405, 568 
4,231,420 
2,561,584 
1, 606, 967 
6, 664, 068 


15, 820, 486 

14, 589, 806 
13, 668, 109 
13,141,435 
12, 701, 550 
11, 841. 422 
11,403,515 
10, 757, 008 
10, 151, 397 

9, 750, 715 
41,500,511 
34, 590, 930 
29,411,835 
47, 315, 942 
30, 133, 569 

15, 804, 899 
11,282,910 

9, 634, 068 
7, 052, 303 
5,521,307 
15, 897, 396 
6, 791, 797 
4, 057, 191 
2, 400, 790 
5, 003, 069 
2,473,431 
2,111,677 
2, 518, 565 
1, 907, 557 
1, 225, 838 


15, 285, 391 

13,336,010 

11,155,317 

9, 497, 621 

8, 363, 477 

7, 240, 335 

6, 546, 782 

5, 864, 587 

5,268,411 

4, 848, 100 

18, 585, 551 

12, 928, 685 

9, 280, 188 

12, 583, 025 

6, 820, 683 

3, 091, 842 

1, 941, 665 

1, 464, 454 

957, 415 

682, 072 

1,661,586 

590, 688 

320, 344 

180, 614 

353, 087 

164, 101 

130,610 

149, 055 

108, 291 

68, 250 


535, 095 

1, 253, 796 

2, 512, 792 
3, 643, 814 
4, 338, 073 
4, 601, 087 
4, 856, 733 
4, 892, 421 
4, 882, 986 
4, 902, 615 

22,914,960 

21, 662, 245 

20,131,647 

34,732,917 

23, 312, 886 

12, 713, 057 

9, 341, 245 

8,169,614 

6, 094, 888 

4, 839, 235 

14, 235, 810 

6, 201, 109 

3, 736, 847 
2, 220, 176 
4, 649, 982 
2, 309, 330 
1,981,067 
2, 369. 510 
1,799,266 
1, 157, 588 


16, 819 


97 

143 

207 

289 

375 

466 

563 

662 

772 

879 

1,217 

1,999 

3,009 

4,634 

7,399 

10, 781 

14, 746 

19, 164 

24, 277 

29, 780 

43, 933 

73, 725 

103, 745 

130, 096 

175, 851 

226,211 

328, 297 

462, 674 

591, 043 

886, 112 

1, 057, 855 

2, 561, 584 

1, 606, 967 

2, 221, 356 


1.78 
2.22 




2.78 


32, 342 
21, 353 
20, 312 
2,435 
4,969 
66, 902 

180, 304 

165, 550 

277, 488 

1,138,071 

7, 639, 128 

14, 479, 782 

13, 741, 408 

11,676,416 

12, 369, 549 

10, 142, 987 

38, 975, 035 

22, 329, 769 

18, 662, 892 

10, 999, 107 

16, 802, 494 

10, 646, 816 

21, 197, 396 

11,824,317 

14,050,609 

11,179,730 

4,231,420 

2, 561, 584 

1, 606, 967 

6, 664, 068 


3.41 

3.96 

4.45 

4.91 

5.30 

5.72 

6.07 

7.09 

8.98 

11.02 

13.51 

16.61 

19.76 

22.83 

25.67 

28.67 

31.42 

36.81 

42.79 

46.81 

48.09 

50.76 

50.32 

53.69 

52. 77 

47.51 

51.28 

41.14 








72.67 








37.61 








30.56 










453, 295, 515 
937, 593, 865 
















726, 119, 613 


462, 260, 874 


221, 195, 480 


241, 065, 394 


263, 858. 739 


242 


5.84 


1, 390, 889, 380 


726,119.613 


462, 260, 874 


221, 195, 480 


241, 065, 394 


263, 858, 739 


118 


3.89 


















14, 848 


615, 251 








615, 251 


23, 664 














615, 251 








615, 251 


(") 
















726, 734, 864 


462, 260, 874 


221, 195, 480 


241, 065, 394 


264, 473, 990 


(») 









6 Nontaxable returns. Exemptions from normal tax and surtax exceed net income. A negligible number 
of nontaxable returns in net income classes of $6,000 and over is not tabulated separately. 

6 See footnote. 8, p. 11. 

7 See footnote 9, p. 11. 
E Deficit. 

11 Net income less deficit. 

10 Not available. 

n Average total tax not computed. 



18 



STATISTICS OF INCOME 



Basic table 2-A, pages 92-101, shows data similar to those in the 
preceding table, but classified in greater detail. The returns with no 
alternative tax (Part II, pages 94-95) are shown separately from 
those with alternative tax (Part III, pages 96-101) and the returns 
with alternative tax are further classified into those with net long-term 
capital gain and with net long-term capital loss. In all parts of basic 
table 2-A there are presented six net income classes for returns with 
net income under $5,000. 

The distribution of number of returns, net income or deficit, and 
tax, by States and Territories, is given in basic table 1-A, pages 
80-81. 

SIMPLE AND CUMULATIVE DISTRIBUTION BY NET INCOME CLASSES OF NUMBER 
OF RETURNS, NET INCOME, AND TAX 

The distribution of individual returns with net income by a limited 
number of net income classes is exhibited in the following table. 
There are shown simple and cumulative totals and percentages for the 
number of returns, net income, and tax. Basic table 3-A, pages 
105-107, contains number of returns, net income, and tax distributed 
by a more detailed net income classification. Both in the following 
table and basic table 3-A, aggregates are shown for the returns with 
no net income: 

Individual returns ' with net income (excluding fiduciary returns), 193S, by net in- 
come classes: simple and cumulative distribution of number of returns, net income 
and tax, and percentages: also aggregate for individual returns with no net income 
(excluding fiduciary returns), 1938 2 



[Net inrcme classes and money figures in thousands of dollars] 





Returns 


Net income classes 


Simple distribution 


Cumulative distribu- 
tion from highest 
income class 


Cumulative distribu- 
tion from lowest in- 
come class 




Number 


Percent, of 
total 


Number 


Percent of 
total 


Number 


Percent of 
total 


Returns with net income: 


366, 591 

2, 423, 278 

1,609,883 

1,167,479 

111). 931 

137,910 

25, 430 

6,944 

1.249 

717 

182 

102 

50 


5. 96 
39.40 
26.17 
18.98 
6.68 
2.25 
.41 
. 11 
.02 
.01 
( 5 ) 
( 5 ) 
( 5 ) 


6, 150, 776 

5, 784, 185 

3, 360, 907 

1,751,024 

583, 545 

172,614 

34, 674 

9,244 

2, 300 

1,051 

334 

152 

50 


100. 00 

94.04 

54. 64 

28.47 

9.49 

2.81 

.56 

.15 

.04 

.02 

.01 

( 5 ) 

( s ) 


366, 591 
2, 789, 869 

4, 399, 752 

5, 567, 231 
5, 978, 162 
6,116,102 
6, 141, 532 
6, 148, 476 
li. 119,725 
6, 150, 442 
6, 150, 624 
6, 150, 726 
6, 150, 776 


5.96 




45. 36 




71.53 


3 under 5 (estimated) 


90.51 
97.19 


10 under 25 


99.44 

99.85 


50 under 100. 


99. 96 


100 under 150 


99.98 


150 under 300 

300 under 500 

.".ill) under 1,000.. 


99.99 
99.99 
99.99 


1,000 and over 


100. 00 


Total, individual returns with 


6, 150, 776 
100, 233 


100. 00 

( 7 ) 










Individual returns with no net in- 






















6,251,009 


p) 





















For footnotes, see p. 19. 



STATISTICS OF INCOME 19 

Individual returns 1 with net income (excluding fiduciary returns), 193S, by net in- 
come classes: simple and cumulative distribution of number of returns, net income 
and tax, and percentages; also aggregate for individual returns with no net income 
(excluding fiduciary returns), 1938 — Continued - 

[Net income classes and money figures in thousands of dollars] 





Net income 


Net income classes 


Simple distribution 


Cumulative distribu- 
tion from highest 
income class 


Cumulative distribu- 
tion from lowest in- 
come class 




Amount 


Percent of 
total 


Amount 


Percent of 
total 


Amount 


Percent of 
total 


Returns with net income: 


250, 739 

3,414,877 

4, 079, 068 

4,298,601 

2, 751, 422 

2, 016, 484 

855, 437 

463, 503 

149, 052 

144. 454 

69, 031 

70,590 

97, 669 


1.34 

18.30 

21.86 

23.04 

14.74 

10.81 

4.58 

2.48 

.80 

.78 

.37 

.38 

.52 


18, 660, 929 

18, 410, 190 

14,995,313 

10, 916, 245 

6, 617, 644 

3, 866, 221 

1,849,736 

994, 299 

530, 796 

381, 744 

237, 290 

168, 259 

97, 669 


100. 00 

98.66 

80.36 

58. 50 

35.46 

20.72 

9.91 

5.33 

2.85 

2.05 

1.27 

.90 

.52 


250, 739 
3,665,616 
' 7,744,684 
12,043,286 
14, 794, 708 
16,811,193 

17, 666, 630 
18, 130, 133 

18, 279, 185 
18, 423, 639 
18, 492, 671 
18, 563, 261 
18, 660, 929 


1.34 




19.64 




41.50 


3 under 5 (estimated)-., . 


64. 54 
79.28 




90.09 




94.67 


50 under 100- 


97. 15 


100 under 150 


97.95 


150 under 300_ 


98.73 


300 under 500- 


99.10 


500 under 1,000 


99.48 




100. 00 






Total, individual returns with 


18, 660, 929 
6 354, 156 


100. 00 

( 7 ) 










Individual returns with no net in- 


























Total tax 






Net income classes 


Simple dis 


tribution 


Cumulative distribu- 
tion from highest 
income class 


Cumulative distribu- 
tion from lowest in- 
come class 




Amount 


Percent of 
total 


Amount 


Percent of 
total 


Amount 


Percen t of 
total 


Returns with net income: 


445 
14, 835 
13,414 

33, 257 
69, 992 

130, 436 
115,916 
111,706 
54, 872 
65, 242 

34, 926 
37, 652 
43, 428 


0. 06 
2.04 
1.85 

4.58 
9.64 
17. '.Hi 
15. 97 
15. 38 
7.56 
8.98 
4.81 
5.19 
5.98 


726, 120 

725, 675 
710, 840 
697, 426 
664, 169 
594, 177 
463, 741 
347, 825 
236, 120 
181, 247 
116,006 
81,080 
43, 428 


100.00 
99.94 
97.90 
96.05 
91.47 
81.83 
63.87 
47.90 
32.52 
24.96 
15. 98 
11.17 
5.98 


445 

15,280 

28, 694 

61,951 

131,942 

262, 378 

378, 294 

490, 000 

544, 873 

610, 114 

645, 040 

682, 692 

726, 120 


0.06 




2.10 




3.95 


3 under 5 (estimated). . 


8.53 




18.17 




36.13 




52. 10 


50 under 100 


67.48 


100 under 150 


75.04 


150 under 300. _ . - 


84.02 


300 under 500-.. 


88.83 


500 under 1,000 


94.02 


1,000 and over . 


100. 00 


Total, individual returns with 


726, 120 
615 


100.00 
( 7 ) 






i 


Individual returns with no net in- 






■ 












726, 735 


( 7 ) 

















1 Unlike text table on p. 8, Statistics of Income for 1937, Part 1, excludes taxable fiduciary returns with 
net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly filed on Form 
1040 instead of Form 1041. Data for individual returns with no net income are included in this table for the 
first time. See basic table 3-A, pp. 105-107, for distribution of the data by more detailed net income classes. 

2 For general explanations, see pp. 1-6 and 14-15. 
' See footnote 8, p. 11. 

4 Reported on 26 returns with net long-term capital loss on which the tax, computed on net income before 
the deduction of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

5 Less than one-hundredth of 1 percent. 
« Deficit. 

7 Percentage not computed. 



20 



STATISTICS OF INCOME 



CLASSIFICATION BY SEX AND FAMILY RELATIONSHIP, INDIVIDUAL RETURNS 

WITH NET INCOME 

The table presented herewith shows the number of individual returns 
with net income and the net income distributed according to sex and 
family relationship of the taxpayer. In basic table 4, pages 108-110, 
similar data are shown by States and Territories. In basic table 5, 
there are presented the number of returns, net income, personal exemp- 
tion, and credit for dependents, classified by net income classes and 
by sex and family relationship of the taxpayer. There are excluded 
from the following table and from basic tables 4 and 5 individual 
returns with no net income which are not classified by sex and family 
relationship of the taxpayer. 

The tabulation of the individual returns showing community prop- 
erty income excludes returns with net income under $5,000 and joint 
returns of husband and wife with net income under $10,000. The 
returns of married persons not showing community property income 
filed in the eight community property States are classified according 
to the status reported, as joint returns of husbands and wives or sep- 
arate returns of husbands and wives. In tabulating joint returns 
showing community property net income of $10,000 and over, with 
tax liability apportioned between husband and wife, the items of 
income and deductions are divided to represent two community 
property returns, the net income class for each of the separate returns 
being one-half of the combined community income. Separate returns 
of husbands and wives showing community property income of $5,000 
and over are classified as community property returns by net income 
classes according; to the net income on each return. 



Individual returns 1 with net income (excluding fiduciary returns), 1988, by sex and 
family relationship: number of returns, net income, and percentages 2 





Returns 


Net income 


Family relationship 


Number 


Percent 
of total 


Amount 
(thousands 
of dollars) 


Percent 
of total 


Joint returns of husbands, wives, and dependent children, 
and returns of either husband or wife when no other 
return is filed 


2, 866, 026 

152, 654 
153, 143 

395, 073 

210, 143 

1, 418, 385 

909, 935 
45, 417 


46.60 

2.48 
2.49 

6.42 

3.42 

23.06 

14.79 
.71 


10, 001, 384 

1, 593, 939 
693, 027 

1, 040, 372 
472, 994 

2, 611, 197 

1, 717, 196 
530, 819 


53.60 


Separate returns of husbands and wives: 
Men' 


8.54 


Women 3 


3.71 


Heads of families: 

Single men and married men not living with wives 

Single women and married women not living with 

husbands.. _______ 


5.58 
2.53 


Not heads of families: 

Single men and married men not living with wives... 

Single women and married women not living with 

husbands 

Community property ret urns < 


13.99 

9.20 
2.85 






Total, individual returns with net income... 


6, 150, 776 


urn mi 


18, 660, 929 


100.00 



i Unlike text table on p. 9, Statistics of Income for 1937, Part 1, excludes taxable fiduciary returns with net 
income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly filed on Form 1040 
instead of Form loll. 1 lata for individual returns with no net income are not classified by sex and family 
relationship. See basic table 4, pp. 108-110, for distribution of data by States and Territories. See basic 
table 5, pp. 111-115, for distribution of data by net income classes. 

2 For general explanations, sec pp. 1-6 and 14-15. 

3 An unequal number of separate returns for husbands and wives results from (1) the use of the sample 
method on returns with net income under $5,000, as the net income of one spouse may be $5,000 or over and 
that of the other spouse under $5, (too (see description of sample, pp. 14-15), and (2) certain cases in which 
incomplete or inaccurate answers to questions 4 and 5 on p. 4, Form 1040, and on the back of Form 1040A 
make it impossible to identify the returns as separate returns. 

* See text, p. 20. 



STATISTICS OF INCOME 



21 



PERSONAL EXEMPTION AND CREDITS AGAINST NET INCOME, INDIVIDUAL 
RETURNS WITH NET INCOME 

The following table shows that of the net income of $18,660,929,186 
reported on all individual returns with net income, there is $6,146,343,- 
050 which is subject to the normal tax rate of 4 percent. Of this 
$6,146,343,050 there is reported net income of $5,529,887,000 subject 
to the normal tax liability on returns with no alternative tax liability 
and net income of $616,456,050 which is the base for the normal tax 
computation used in the determination of the alternative tax on 
returns with alternative tax liability (see item 9, Schedule F, on page 
3 of Form 1040, facsimile on page 292). Of this latter amount, net 
income of $239,864,000 is reported on returns which show net long- 
term capital gain and net income of $376,592,050 is reported on re- 
turns which show net long-term capital loss. 

The net income specifically exempt from the normal tax rate of 4 
percent through personal exemption, credit for dependents, earned 
income credit, interest on Government obligations not wholly exempt 
from tax, and net long-term capital gain and loss reported on returns 
with alternative tax liability is also shown in the following table: 

Individual returns l with net income {excluding fiduciary returns), 19S8: net income 
exempt from and amount subject to normal tax 2 

[Money figures in thousands of dollars] 



Amount 



Percent 
of net 
income 



Net income 

Personal exemption and credits against net income: 

Personal exemption 

Credit for dependents 

Earned income credit 

Taxable interest on partially tax-exempt Government obligations 3 ._ 

Total personal exemption and credits against net income 

Net long-term capital gain and loss reported on returns with alternative tax: 

Net long-term capital gain 143, 197 

Less: Net long-term capital loss 51,306 

Total 

Less: Excess exemption and credits * 

Net income exempt from normal tax 

Net income subject to normal tax - 



18, 660, 929 



100. 00 



11, 384, 789 

1, 527, 594 

1, 390, 889 

42, 099 



61.01 

8.19 

7.45 

.22 



14, 345, 371 



91,891 



76.87 



14, 437, 262 
1, 922, 676 



77.36 
10.30 



12, 514, 586 



67.06 



5 6, 146, 343 



32.94 



i Unlike text table on p. 10, Statistics of Income for 1937, Part 1, excludes taxable fiduciary returns with 
net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly filed on Form 
1040 instead of Form 1041. 

2 For general explanations, see pp. 1-6 and 14-15. 

3 Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and 
on obligations of instrumentalities of the United States other than those issued under the Federal Farm 
Loan Act or such act as amended (see item 5 on p. 1, Form 1040, facsimile on p. 290) reported on returns 
with net income of $5,000 and over. 

4 See footnote 5, p. 17. 

5 Consists of $5,529,887,000 subject to the normal tax liability on returns with no alternative tax liability 
and $616,456,050 which is the base for the normal tax computation used in the determination of the alterna- 
tive tax on returns with alternative tax liability. 



INDIVIDUAL RETURNS WITH NO NET INCOME BUT WITH ALTERNATIVE TAX 

LIABILITY 

In the following table there is presented the computation of the 
alternative tax, in accordance with the provisions of section 117(c)(2) 
of the Revenue Act of 1938, for the 26 individual returns with no net 



22 STATISTICS OF INCOME 

income which show alternative tax liability. Each of these returns 
shows a net long-term capital loss in excess of deficit and there is an 
alternative tax liability because the partial tax computed on ordinary 
net income before the deduction' of net long-term capital loss exceeds 
30 percent of the net long-term capital loss (see Schedule F on page 
3 of Form 1040, facsimile on page 292). 

Individual returns with no net income, 1988, but with ordinary net income before 
deducting net long-term capital loss, and alternative tax liability l 

[Money figures in thousands of dollars] 

Number of returns 26 

Deficit (includes net long-term capital loss) 1 , 404 

Net long-term capital loss 6, 768 

Ordinary net income before deducting net long-term capital loss 5, 365 

Less: Credits for surtax net income computation: 

Personal exemption 49 

Credit for dependents 6 

55 

Ordinary net income for surtax computation 5, 309 

Less: Credits for normal tax net income computation: 

Interest on partially tax-exempt Government obligations, . 8 

Earned income credit 15 

23 

Ordinary net income for normal tax computation 5, 286 

Normal tax 211 

Surtax 2,4 34 

Total, partial tax 2, 645 

Less: 30 percent of net long-term capital loss 2, 030 

Alternative tax 2 615 

• For general explanations, see pp. 1-6. 

2 This alternative tax, computed in accordance with the provisions of sec. 117(c)(2) of the Revenue Act 
of 1938, is reported as item 31 on p. 1 of Form 1040 and as items 14 and 16 in Schedule F on p. 3 of Form 
1040, facsimile on p. 292. 

CAPITAL GAINS AND LOSSES 

The provisions of the revenue acts relating to capital gains and 
losses from the sale of assets held more than two years apply to capital 
gains and capital losses resulting from the sale or exchange of capital 
assets consummated after December 31, 1921, and prior to January 
I, 1934. Definitions of terms and a summary of the provisions of 
the Revenue Act of 1921 and subsequent acts, affecting the tax on 
capital gains, and of the piovisions of the Revenue Act of 1924 and 
subsequent acts, affecting the tax credit on capital losses, is found on 
pages 276-277 of this report. The "Total income" and "Net income" 
for individual returns for 1922 through 1933, as presented in the 
historical tables, pages 66-75, include " Capital net gains," whereas, 
for the years 1924 through 1933, the "Net income" has not been 
reduced by, and "Deductions" have nut been increased by, the amount 
of "Capital net losses" reported for tax credit. 

Under the provisions of the Revenue Acts of 1934 and 1936, the 
definition of capital assets is extended to include assets held by the 
taxpayer, regardless of time held, instead of only assets held over two 



STATISTICS OF INCOME 23 

years. The term " Capital assets" means property held by the tax- 
payer (whether or not connected with his trade or business), but 
excludes (1) stock in trade or other property which would properly 
be included in the inventory of the taxpayer if on hand at the close 
of the taxable year and (2) property held primarily for sale to custom- 
ers in the ordinary course of trade or business. Certain percentages 
of the gain or loss recognized upon such sales or exchanges are taken 
into account in computing net income. These percentages, which 
vary according to the period for which the assets have been held, 
are as follows: 100 percent, for capital assets held not over 1 year; 
80 percent, for capital assets held over 1 year but not over 2 years; 
60 percent, for capital assets held over 2 years but not over 5 years; 
40 percent, for capital assets held over 5 years but not over 10 years; 
and 30 percent, for capital assets held over 10 years. The deduction 
for net capital loss after the percentages are applied and after sub- 
tracting the prorated gains from the sales or exchanges of capital 
assets is limited to $2,000, or the amount of the net capital loss, 
whichever is less. 

The net income reported on individual returns for the taxable years 
1934 through 1937 includes net capital gain and loss computed in 
accordance with the limitations stated in the preceding paragraph. 
It is not possible, by using the net capital gain and net capital loss 
on the returns for these years, to adjust the "Total income," "Total 
deductions," and "Net income" so that they will be comparable with 
these items as tabulated for prior years. Moreover, net capital gain 
and loss reported on individual returns for 1934 through 1937 are not 
comparable with "Profit and loss from sale of real estate, stocks, 
and bonds," etc., "Capital net gain," or "Capital net loss" which 
were reported on returns for prior years. The net capital gain and 
loss reported on fiduciary income tax returns, Form 1041, for 1937, 
included in Statistics of Income for 1937, Part 1, are computed 
according to the limitations which apply to the individual returns. 

Under the provisions of the Revenue Act of 1938, the definition of 
capital assets is the same as that under the provisions of the Revenue 
Acts of 1934 and 1936, except that there is excluded property used 
in trade or business of a character which is subject to the allowance 
for depreciation. The net gain or loss from the sale or exchange of 
this excluded property subject to the allowance for depreciation is 
reported as "Net gain (or loss) from sale or exchange of property 
other than capital assets" (item 10(c) on page 1 of Form 1040, 
facsimile on page 290). 

The following percentages of the gain or loss recognized upon the 
sale or exchange of capital assets which are taken into account in 
computing net income are different from those under the provisions of 
the Revenue Acts of 1934 and 1936: 100 percent, for capital assets 
held 18 months or less; 66% percent, for capital assets held over 18 
months but not over 24 months; 50 percent, for capital assets held over 
24 months (see Schedule F on page 3 of Form 1040, facsimile on page 
292). The net capital gain or loss resulting from the application of 
the above percentages is divided into short-term and long-term. Net 
short-term gain or loss refers to that for capital assets held 18 months 



24 STATISTICS OF INCOME 

or less, and net long-term gain or loss refers to that for capital assets 
held over 18 months. Net short-term gain and net long-term gain or 
loss may be taken into account in computing current year net income. 
Net short-term loss, however, may not be taken into account in com- 
puting current year net income. According to section 117(e) of the 
Revenue Act of 1938, the net short-term loss (not in excess of the net 
income for the year in which the loss is sustained) is carried forward to 
the succeeding year and applied against the short-term capital gains 
not already offset by short-term capital losses in such succeeding year. 

According to sections 169(c)(1) and 182 of the Revenue Act of 1938, 
net short-term capital gain or loss and net long-term capital gain or 
loss include, respectively, (1) net short-term and net long-term capital 
gain or loss from sale or exchange of capital assets received from 
"Common trust funds" and (2) each partner's share of net short-term 
and net long-term capital gain or loss allowed partnerships. Under 
the provisions of the Revenue Acts of 1934 and 1936, net capital gain 
or loss from "Common trust funds" and net capital gain or loss allowed 
partnerships were included in "Income from fiduciaries" and "Partner- 
ship profit or loss," respectively. 

For the returns in this volume filed under the provisions of the 
Revenue Act of 1938, there are tabulated, as sources of income and 
deductions, the net short-term capital gain and the net long-term 
capital gain and loss. For the small number of returns in this report 
filed under the Revenue Act of 1936, the net capital gain and loss are 
tabulated with the net long-term capital gain and loss reported on the 
returns filed under the provisions of the Revenue Act of 1938. 

The net income reported on individual returns hi this report includes 
(1) net short-term capital gain and net long-term capital gain and loss 
reported on returns filed under the provisions of the Revenue Act of 
1938, and (2) net capital gain and loss reported on a small number of 
returns filed under the provisions of the Revenue Act of 1936. It is 
not possible, by using the net short-term capital gain, and net long- 
term capital gain and loss, to adjust "Total income," "Total deduc- 
tions," and "Net income" so that they are comparable with these 
items tabulated for the taxable years 1934 through 1937. Moreover, 
the amounts for net short-term capital gam and net long-term capital 
gain and loss are not comparable with those for net capital gain and 
loss tabulated for the taxable years 1934 through 1937. 

SOUKCES OF INCOME AND DEDUCTIONS 

In the following table there appears a distribution, by sources, of 
the income and deductions reported on individual returns with net 
income and with no net income. Income from the various sources 
represents the net amount by which the gross receipts exceed the 
deductions, as reported in the schedules on the return (see facsimile 
of Form 1040, pages 290-297), and in aggregate represents the sum of 
the net amounts of income from each source. Net losses reported 
under "Income" items on the face of the returns are transferred in 
tabulation to deductions, and are included with the amounts reported 
under specified or other deductions. 



STATISTICS OF INCOME 



25 



Individual returns 1 with net income and with no net income (excluding fiduciary 
returns), 1938: number of returns, sources of income and deductions, and net 
income 2 

[Money figures in thousands of dollars] 



Sources of income and deductions 



Number of returns 

Sources of income: 

Salaries, wages, commissions, etc 

Dividends from domestic and foreign corporations * 

Taxable interest: 

Bank deposits, notes, mortgages, corporation bonds 5 

Partially tax-exempt Government obligations 6 

Partnership profit 7 

Income from fiduciaries 8 

Rents and royalties 

Business profit 

Net capital gain: ' 

Short-term "> 

Long-term " 

Net gain from sale of property other than capital assets 12 _ 
Other income 

Total income. 

Deductions: 

Partnership loss 7 

Business loss 

Net long-term capital loss 9 13 

Net loss from sale of property other than capital assets 12 _. 

Contributions u 

Interest paid 15 

Taxes paid I5 

Other deductions 

Total deductions 

Net income 



Individual returns 



Total 



6, 251, 009 

13, 306, 816 
2, 211, 501 

778, 537 
44, 471 

1,061,059 
656, 332 
770, 435 

2. 368, 398 

139, 471 

267, 712 

23, 087 

240, 227 



21,868,046 



68. 240 
241.400 
582, 734 

42, 752 
413, 979 
548, 613 
837, 730 
825, 825 



3, 561, 273 



16 18, 306, 773 



With net 
income 



6, 150, 776 

13, 240, 991 
2, 122, 076 

746, 504 
42, 099 

1,047,526 
637,041 
728, 834 

2, 342. 443 

131, 689 

261, 269 

21, 561 

227. 245 



21, 549, 277 



30, 441 
98, 684 
390, 514 
21,325 
407,419 
500, 564 
792, 951 
646, 451 



2, 888, 348 



18, 660, 929 



With no 
net income 



100, 233 

65, 825 
89,424 

32, 034 
2,373 
13, 533 
19, 291 
41,601 
25. 954 

7,781 
6, 443 
1,526 
12,983 



318, 769 



37,800 
142, 717 
192,220 

21, 427 
6,560 

48, 049 

44, 779 
179, 374 



672, 925 



i" 354. 156 



1 Unlike text table on p. 12, Statistics of Income for 1937, Part 1, excludes taxable fiduciary returns with 
net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly filed on Form 
1040 instead of Form 1041. Data for individual returns with no net income are included in this table for 
the first time. 

2 For general explanations, see pp. 1-6 and 14-15. 

3 See footnote 8, p. 11. 

* Excludes dividends received through partnerships and fiduciaries and dividends received on share 
accounts in Federal savings and loan associations. 

5 Includes taxable interest received on partially tax-exempt Government obligations reported on returns 
with net income under $5,000. 

6 See footnote 3, p. 21. 

7 For 1938, partnership profit or loss includes dividends received, and excludes (1) taxable interest on obliga- 
tions of the United States, and (2) net gain or loss from the sale or exchange of capital assets. The item 
"Charitable contributions" is not an allowable deduction in the computation of partnership profit or loss. 
For 1937, partnership profit or loss inchtded (1) dividends received and (2) net gain or loss from sale or ex- 
change of capital assets (as defined by sec. 117(b) of the Revenue Act of 1936) and excluded taxable interest 
on obligation of the United States. The item "Charitable contributions" (limited to 15 percent of partner- 
ship net income before deduction of contributions or gifts) was an allowable deduction in the computation 
of partnership profit or loss. Each item which is excluded from partnership profit or loss for 1938 and 1937 
is reported under its appropriate classification. 

8 For 1938, income from fiduciaries includes (1) dividends received, and (2) net gain or loss from sale or 
exchange of capital assets, and excludes (1) taxable interest on obligations of the United States and (2) net 
gain or loss from sale or exchange of capital assets received from "Common trust funds." For 1937, income 
from fiduciaries included (1) dividends received, and (2) net gain or loss (including that received from "Com- 
mon trust funds") from sale or exchange of capital assets as defined by sec. 117(b) of the Revenue Act of 
1936, and excluded taxable interest on obligations of the United States. Each item which is excluded from 
income from fiduciaries for 1938 and 1937 is reported under its appropriate classification. 



26 STATISTICS OF INCOME 

Profit or loss from partnership includes dividends received, and 
excludes (1) taxable interest on obligations of the United States and 
(2) net gain or loss from the sale or exchange of capital assets. The 
item "Charitable contributions" is not an allowable deduction in the 
computation of partnership profit or loss. For 1937, income from 
partnerships included (1) dividends received and (2) net gain or loss 
from sale or exchange of capital assets (as defined in section 117(b) of 
the Revenue Act of 1936) and excluded taxable interest on obligations 
of the United States. For 1937, the item "Charitable contributions" 
(limited to 15 percent of partnership net income before deduction of 
contributions or gifts) was an allowable deduction in the computation 
of partnership profit or loss. Each item which is excluded from part- 
nership profit or loss for 1938 and 1937 is reported under its appropriate 
classification. 

Income from fiduciaries includes (1) dividends received and (2) net 
gain or loss from sale or exchange of capital assets, and excludes (1) 
taxable interest on obligations of the United States and (2) net gain 
or loss from sale or exchange of capital assets received from "Common 
trust funds." For 1937, income from fiduciaries included (1) dividends 
received and (2) net gain or loss (including that received from "Com- 
mon trust funds") from sale or exchange of capital assets (as defined 
in section 117(b) of the Revenue Act of 1936) and excluded taxable 
interest on obligations of the United States. Each item which is 
excluded from income from fiduciaries for 1938 and 1937 is reported 
under its appropriate classification. 

Income from rents and royalties represents a net profit after the 
deduction of the amounts of depreciation, repairs, interest, taxes, and 
other expenses which are deductible from the gross amount received 
for the rent of property and the amount of depletion which is deduct- 
ible from the gross amount of royalties received (see Schedule C on 
page 2, Form 1040, facsimile on page 291). 

For statements regarding business profit and loss and the number 
of businesses with profit and loss, see section of this report entitled 
"Profit and loss from business," etc., pages 48-49. 

1 Unlike 1937 (1) capital assets exclude property used in trade or business of a character which is subject 
to tlie allowance for depreciation and (2) "Net capita! gain" and "Net long-term capital loss" include each 
partner's share of net capital gain 01 loss allowed partnerships and "Common trust funds." Net long-term 
capital gain and loss include losses from worthless stocks and bonds, which for 1937 were tabulated in "Other 
deductions." 

10 Consists of net short-term capital gain on capital assets held IS months or less. 

:l Consists of net long-term capital gain on capital assets held over 18 months. Includes net capital gain 
of $34fi, I!'", on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) 
of the Revenue Act of 1936, reported on 120 fiscal vear returns with vear ended in period Julv through No- 
vember 1938. 

12 Consists of net gain or loss from property used in trade or business of a character which is subject, to the 
allowance for depreciation which under the Revenue Act of 1938 is excluded from capital assets. For 1937, 
net gain or loss from the sale of depreciable property was included in "Net capital gain or loss." 

13 Consists of net long-term capital loss on capital assets held over IS months. Includes net capital loss of 
$139,727 on sale of capital assets (regard] SS of period capital assets were held) as defined in sec. 117(b) of the 
He venue Act of 1930, reported on 121 fiscal year returns with vear ended in period July through November 
1938. 

" Includes each partner's share of charitable contributions of partnerships. For 1937. such contributions 
were allowed as a deduction in the computation of partnership profit or loss (see footnote 7). 
15 Excludes amounts reported in Schedules C and I) as business deductions. 
'• Xet income less deficit. 
" ivficit. 



STATISTICS OF INCOME 27 

With reference to the amounts of net short-term capital gain and 
net long-term capital gain and loss attention is directed to the pro- 
visions of the Revenue Act of 1938, as described in the section of the 
text entitled "Capital gains and losses," pages 23-24. 

Net gain or loss from sale of property other than capital assets 
consists of net gain or loss from property used in trade or business of a 
character which is subject to the allowance for depreciation, which, 
under the provisions of the Revenue Act of 1938, is excluded from 
capital assets. For 1937, net gain or loss from the sale of a depreciable 
asset was included in "Net capital gain or loss." 

A portion of the amount distributable to beneficiaries, tabulated for 
fiduciary returns in basic tables 11 and 13, pages 180-186 and 190- 
193, respectively, is reported on the individual returns of the benefici- 
aries as income in the following items: "Income from fiduciaries," 
"Taxable interest on partially tax-exempt Government obligations," 
"Net short-term and long-term capital gain" (if distribution consists of 
net capital gain from a "Common trust fund"), "Total income," and 
"Net income." For explanation of method of reporting distributions 
to beneficiaries, see section of this report entitled "Fiduciary Income 
Tax Returns," pages 52-54. 

Contributions to domestic charitable and scientific organizations, 
etc., consist of those of each individual and each partner's share of 
charitable contributions of partnerships. The total of such contri- 
butions is limited, in general, to 15 percent of the net income reported 
on the individual return before deducting the contributions. Like 
other items of income and deductions, "Contributions" represents 
amounts prior to any revisions that may be made as a result of audit 
by the Bureau of Internal Revenue. In tabulating these data no 
adjustment is made for any contributions which may be reported by 
the taxpayer in excess of the 15 percent legal deduction. For 1937, 
contributions were not confined exclusively to domestic organizations, 
and charitable contributions were allowed as a deduction in the 
computation of partnership profit or loss. 

The items of "Interest paid" and "Taxes paid" which are reported 
under "Deductions" on income tax returns do not include amounts 
reported as business deductions. 

Interest paid is reported as item 14 on page 1 of Form 1040, in 
accordance with the following instructions: 

Enter as item 14 interest on personal indebtedness as distinguished from 
business indebtedness (which should be deducted under Schedules C and D). 
Do not include interest on indebtedness incurred or continued to purchase or 
carry obligations (other than obligations of the United States issued after Sep- 
tember 24, 1917, and originally subscribed for by the taxpayer) the interest upon 
which is wholly exempt from taxation. 

Taxes paid exclude (1) the Federal income tax (the tax withheld or 
paid under section 801 of the Social Security Act for or in behalf of 
the employee is a Federal income tax of the employee and, therefore, 
cannot be included in "Taxes paid"), (2) estate, inheritance, legacy, 
succession, and gift taxes, (3) income and profits taxes paid to foreign 
countries or possessions of the United States, which are allowed as a 
credit against the tax, and (4) taxes reported as business deductions 
in Schedules C and D and on Form 1040F, schedule of farm income 

299420—41 3 



28 



STATISTICS OF INCOME 



and expenses. Taxes paid are reported as item 15 on page 1 of Form 
1040, in accordance with the following instructions: 

Enter as item 15 taxes imposed upon you and paid or accrued during the taxable 
year, not including taxes on property used in your business or profession and those 
assessed against local benefits of a kind tending to increase the value of the 
property assessed. Do not include Federal income taxes, nor estate, inheritance, 
legacy, succession, gift taxes, taxes imposed upon your interest as shareholder of a 
corporation which are paid by the corporation without reimbursement from you, 
nor income taxes claimed as a credit in item 33. Tax withheld or paid under 
section 801 of the Social Security Act for or in behalf of the employee is a Federal 
income tax and is not deductible by the employee. Do not include sales taxes 
unless such taxes were imposed directly upon you by law. No deduction is 
allowable for any portion of foreign income and profits taxes if a credit is claimed 
in item 33. 

The following table shows, for a limited number of net income 
classes, sources of income, deductions, and net income. The distribu- 
tion by States and Territories and by more detailed net income classes 
isshownm basic tables and 7-A, respectively (pages 116-122 and 131- 
13S). The following text table and basic table 7-A also show the total 
number of returns in each net income class and, for returns with net 
income of $5,000 and over, the number of returns on which were 
reported specific sources of income and deductions. The number of 
returns with net income under $5,000 on which specific sources of 
income and deductions are reported, which was published in Statistics 
of Income for 1937, Part 1 (see text table on pages 13-15 and basic 
table 7, pages 133-137), is not available for 1938. The table on 
pages 32-33 shows for a limited number of net income classes the 
percentage distribution of sources of income, deductions, and net 
income. 

Individual returns 1 with net income (excluding fiduciary returns), by net income 
classes, also aggregate for individual returns with no net income (excluding 
fiduciary returns), 1938: total number of returns, number of returns and amount 
for each specific source of income and deductions, and net income 2 

[Net income classes and money figures in thousands of dollars] 





Total 

number 
of returns 


Sources of income 




Salaries, wages, 
commissions, etc. 


Dividends from do- 
mestic andforcign 
corporations 4 


Taxable interest- 


Net income classes 


Bank deposits, 
notes, mortgages, 
corporation bonds 




Number 

of re- 
turns 3 


Amount 


Number 

of re- 
turns' 


Amount 


Number 
of re- 
turns 3 


Amount 


Returns with net income: 
Under 5 (estimated) 


5,567,231 
410,931 

137.940 

25, 430 

6,944 

1. '.'Hi 

717 

182 

102 

50 




9, 931, 705 

1,703,773 

1, 022. 429 

•i 17. 134 

152, 929 

41. 125 

30,876 

7, 976 

1,916 

1,128 




611,969 
323,002 
436, 345 

201,778 
75, 138 

79. 502 
1 1. 259 

33, 187 

34. 535 




is 420, 251 


S under 10 


278, 935 

ss. 900 

16,331 

4.519 

810 

482 

121 

51 

32 


101,933 
22,004 

6.3S2 

1,169 

691 

179 

96 

50 


173,788 
76,914 
L7.285 
5,312 

1,018 
605 
161 

89 

48 


131,281 


10 under 25 ... 


117,304 


25 under 50 


45, 399 


50 under LOO.. 


19,229 


100 under 150 


4. 399 


150 under 300 


5, 171 


300 under 500__ 


1,216 


500 under 1,000 


1,208 


1,000 and over . . .. 


1.047 






Total 


6, 150, 776 
100. 233 


3 390, 181 
20, 521 


13, 240. 991 
65.825 


3 359, 210 
33,929 


2, 122, 076 
89, 424 


3 275, 220 
29,364 


746,504 
32, 034 


Returns with no net in- 
come I7 






Grand total, indi- 
vidual returns 


6, 251, 009 


3 410, 702 


13, 306, 816 


3 393, 139 


2,211,501 


3 304, 584 


778, 537. 



For footnotes, see p. 31. 



STATISTICS OF INCOME 



29 



Individual returns 1 with net income (excluding fiduciary returns), by net income 
classes, also aggregate for individual returns with no net income (excluding fidu- 
ciary returns), 1988: total number of returns, number of returns and amount 
for each specific source of income and deductions, and net income 2 — Continued 

[Net income classes and money figures in thousands of dollars] 





Sources of income— Continued 




Taxable interest— Con. 


Partnership profit 8 


Income from fidu- 
ciaries 7 


Net income classes 


Partially tax-exempt 
Government obliga- 
tions 5 




Number of 
returns 3 


Amount 


Number of 
returns 3 


Amount 


Number of 
returns 3 


Amount 


Returns with net income: 
Under 5 (estimated) 




(19) 

13, 449 

16, 135 

7,461 

3,000 

873 

864 

207 

101 

9 




349, 872 

258, 759 

244, 910 

113,417 

55, 768 

12,616 

8,371 

2,605 

91 

1,118 




138, 991 
* 112, 384 
149, 046 
88, 532 
54, 718 
22, 835 
26 239 


5 under 10 


24, 273 

16, 718 

4.800 

1,546 

285 

190 

32 

31 

10 


52, 207 

23, 948 

5,285 

1,435 

198 

85 

24 

11 

3 


32, 747 

19, 699 

5,422 

1,820 

391 

269 

68 

54 

21 


10 under 25 


25 under 50-. 


50 under 100. _ 


100 under 150 


150 under 300 


300 under 500. 


10 337 


500 under 1,000 


22, 971 
10,989 


1,000 and over ... 




Total 


3 47, 891 
3,332 


42. 099 
2,373 


3 83, 196 
4,904 


1, 047, 526 
13, 533 


3 (iO, 491 
5,189 


637, 041 
19, 291 


Returns with no net income ' 7 - 


Grand total, individual 
returns 


3 51, 223 


44, 471 


3 88, 100 


1, 061, 059 


3 65, 680 


656 332 









Sources of income— Continued 




Rents and royalties 


Business profit 


Net capital gain • 


Net income classes 


Short-term '» 




Number of 
returns 3 


Amount 


Number of 

businesses 9 


Amount 


Number of 
returns 3 


Amount 


Returns with net income: 
Under 5 (estimated) 




449, 357 

126, 834 

90, 904 

36, 625 

15, 456 

4,401 

2,726 

1,340 

1,119 

71 




1,489,611 

476, 999 

263, 156 

72,814 

27, 858 

6,155 

2,588 

386 

2,125 

750 




45, 515 
30, 492 
30, 949 
14, 093 


5 under 10 


91, 195 

35, 474 

7,200 

2,040 

370 

208 

57 

36 

13 


84, 350 

23, 535 

3,159 

646 

83 

41 

7 

5 

4 


35, 872 

20, 556 

5,296 

1,543 

301 

189 

43 

38 

17 


10 under 25 


25 under 50 


50 under 100 


6,681 
2,152 


100 under 150 


150 under 300 


1,154 


300 under 500 


231 


500 under 1,000 


248 


1,000 and over 


176 






Total 


3 136, 593 
27, 635 


728, 834 
41,601 


8 111,830 
9,796 


2, 342, 443 
25, 954 


3 63, 855 
5,411 


131, 689 


Returns with no net income '". 


7,781 


Grand total, individual 
returns 


3 164, 228 


770, 435 


8 121, 626 


2, 368, 398 


3 69, 266 


139, 471 







For footnotes, see p. 31. 



30 



STATISTICS OF INCOME 



Individual returns l with net income {excluding fiduciary returns), by net income 
classes, also aggregate for individual returns with no net income (excluding fidu- 
ciary returns), 1938: total number of returns, number of returns and amount 
for each specific source of income and deductions, and net income 2 — Continued 

[Net income classes and money figures in thousands of dollars] 





Sources of income — Continued 




Net capital gain »— Con. 


Net gain from sale of 
property other than 
capital assets 1J 


Other 
income 13 




Net income classes 


Long-term " 


Total 
income 




Number of 
returns 3 


Amount 


Number of 
returns 3 


Amount 




Returns with net income: 




30, 633 
23, 379 
32, 772 




12, 159 

5,174 

2,999 

793 

400 

22 

14 

(22) 
(22) 


149, 571 

28, 586 

23, 131 

12,524 

9,462 

1,765 

1,195 

772 

136 

103 


13, 629, 634 




26, 703 

16, 577 

4,737 

1,803 

448 

332 

98 

60 

43 


4,445 
1.686 


3,234,113 


10 under 25 


2, 430, 079 


25 under 50 


22,704 308 
20,990 


1,043,858 


50 under 100 


568, 266 


100 under 150 


12.072 
20, 342 
15, 702 
21, 899 
60, 776 


14 
7 
1 
1 


183, 554 


150 under 300 


179, 041 


300 under 500 


85, 031 


500 under 1,000 


85, 001 


1,000 and over 


110 702 








Total ____ 

Returns with no net income 17 . 


3 50, 801 
3,010 


261, 269 
6,443 


3 6, 573 
1.210 


21, 561 
1,526 


227, 245 
12, 983 


21, 549, 277 
318, 769 


Grand total, individual 


3 53, 811 


267, 712 


3 7, 783 


23,087 


240, 227 


21, 868, 046 









Deductions 


Net income classes 


Partnership loss 6 


Business loss 


Net long-term capital 
loss 9 M 




Number of 
returns 3 


Amount 


Number of 
businesses 8 


Amount 


Number of 
returns 3 


Amount 


Returns with net income: 




15, 192 

4,606 

5,614 

2.440 

1,489 

282 

587 

118 

101 

12 




50, 826 

14, 982 

14,237 

7,568 

4,864 

1,843 

2,532 

983 

475 

373 




147, 423 




4,234 

2,502 

745 

295 

66 

50 

17 

6 

5 


9,376 

5,008 

1,519 

579 

179 

104 

22 

23 

16 


■1.-.4HC, 

29,907 

8,187 

2,560 

445 

249 

50 

34 

4 


77, 956 


10 under 25 


90.392 


25 under 50 


41,892 


50 under 100- 


20. 435 


100 under 150 


4,897 


150 under 300 


4,332 


300 under 500 . 


1,034 


500 under 1.000 


1,651 


1,000 and over_. _ 


502 






Total 


3 7,920 
7,479 


30.441 
37, 800 


- H',,s2ti 
54,021 


98,684 
142, 717 


3 86, 902 
21, 346 


390, 514 


Returns with no net income 17 _ 


192.220 


Grand total, individual 


' 15, 399 


68,240 


8 70, 847 


241,400 


' 108, 248 


582, 734 







For footnotes, see p. 31. 



STATISTICS OF INCOME 



31 



Individual returns 1 with net income (excluding fiduciary returns), by net income 
classes, also aggregate for individual returns with no net income (excluding fidu- 
ciary returns), 1938: total number of returns, number of returns and amount 
for each specific source of income and neductions, and net income 2 — Continued 

[Net income classes and money figures in thousands of dollars] 





Deductions— Continued 


Net income classes 


Net loss from sale of 
property other than 
capital assets > 2 


Contributions 15 


Interest paid »• 




Number of 
returns 3 


Amount 


Number of 

returns 3 


Amount 


Number of 
returns 3 


Amount 


Returns with net income: 
Under 5 (estimated) 




12, 146 
3,890 
2,911 
1,236 

413 
124 

79 
108 

67 
349 


337, 462 

118,587 

22, 715 

6,398 

1,182 

687 

176 

97 

47 


230,211 

61,112 

48, 201 

24, 487 

16, 340 

6,854 

6,985 

4,333 

4,912 

3,983 




295, 480 
95,873 
63 199 




3,723 

1,833 

456 

129 

36 

19 

6 

6 

9 


217, 710 

77, 712 

15,311 

4,484 

872 

522 

138 

76 

40 


10 under 25 


l?. r . under 50 . 

50 under 100 .. 


23,994 
11 789 


100 under 150.. 


3 979 


150 under 300 


3 198> 


300 under 500 


1 165 


500 under 1,000 


748 




1,140 






Total. .. 


3 6, 217 
3,827 


21, 325 
21,427 


3 487, 351 
30, 849 


407, 419 
6,560 


3 316, 865 
31. 792 


500 564 


Returns with no net income 17 _ 


48, 040 


Grand total, individual 
returns. - - 


3 10, 044 


42, 752 


3 518, 200 


413,979 


3 348. 657 


548. 613 





Deductions — Continued 




Net income classes 


Taxes paid 16 


Other de- 
ductions 13 


Total de- 
ductions 


Net 




Number of 
returns 3 


Amount 


income 


Returns with net income: 




423, 290 

134, 362 

116,986 

54, 309 

30, 858 

9,995 

10, 479 

5,194 

3,749 

3, 730 


411,780 

89, 909 

72, 055 

32, 493 

18, 575 

6. 527 

6, 394 

3,065 

2,708 

2,944 


1, 586, 348 

482, 690 

413,595 

188, 420 

104, 762 

34, 502 

34, 587 

15, 999 

14,411 

13, 033 


12, 043, 286 




364, 431 

126, 713 

23, 945 

6,640 

1,221 

707 

181 

99 

49 


2, 751, 422 


10 under 25 


2,016,485 


25 under 50 


855, 437 


50 under 100 


463, 503 


100 under 150 


149, 052 


150 under 300 _ 


144, 454 


300 under 500 . 


69, 031 


500 under 1,000 


70,590 




97,669 






Total 

Returns with no net income "-- - 


3 523, 986 
46, 591 


792, 951 
44, 779 


646, 451 
179. 374 


2,888,348 1 18,660,929 
672, 925 »° 354, 156 






Grand total, individual returns 


3 570, 577 


837, 730 


825, 825 


3, 561, 273 2' 18, 306. 773 



1 Unlike text table on pp. 13-15, Statistics of Income for 1937, Part l, this table excludes taxable fiduciary 
returns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly 
filed on Form 1040 instead of Form 1041. Data for individual returns with no net income are included in 
this table for the first time. 

2 For general explanations, see pp. 1-6 and 14-15. 

3 The number of returns with net income under $5,000, which is not available, is excluded from the totals 
in this column. 

4 See footnote 4, p. 25. 

5 See footnote 3, p. 21. 

9 See footnote 7, p. 25. 

7 See footnote 8, p. 25. 

8 If two or more businesses in different industrial groups are reported on one return, each business is 
counted separately. Consequently, the number of businesses exceeds the number of returns showing 
business profit or loss. The number of businesses for returns with net income under $5,000, which is not 
available, is excluded from the totals in this column. 

s See footnote 9, p. 26. 

10 See footnote 10, p. 26. 

11 See footnote 11, p. 26. 

12 See footnote 12, p. 26. 

13 The number of returns with "Other income" and "Other deductions" is not available, since the amount 
of "Other income" is secured by deducting the sum of the specific sources of income from total income and* 
the amount of "Other deductions" is determined by subtracting the sum of the specific deductions from 
the total deductions. 

11 See footnote 13, p. 26. 

15 Includes each partner's share of charitable contributions of partnerships. For 1937, such contributions 
were allowed as a deduction in the computation of partnership profit or loss (see footnote 7, p. 25). 
'« See footnote 15, p. 26. 
" See footnote 8, p. 11. 

18 Includes taxable interest received on partially tax-exempt Government obligations. 

19 Tabulated with "Taxable interest received on bank deposits, notes, mortgages, corporation bonds." 

20 Deficit. 

21 Net income less deficit. 

22 Less than $500. 



32 



STATISTICS OF INCOME 



Individual returns l with net income (excluding fiduciary returns), by net income 
classes, also aggregate for individual returns with no net income (excluding fiduci- 
ary returns), 1988: 'percentage distribution of sources of income, deductions, and 
net income 2 





Sources of income 




Salaries, 
wages, 
commis- 
sions, etc. 


Dividends 
from do- 
mestic 
and for- 
eign cor- 
porations 3 


Taxable interest 


Partner- 
ship 
profit 5 




Net income classes 
(Thousands of dollars) 


Bank de- 
posits, 
notes, 
mortgages, 
corporation 
bonds 


Partially 
tax-exempt 
Govern- 
ment obli- 
gations l 


Income 
from 
fiduci- 
aries • 


Returns with net income: 


72.87 

52.68 

42.08 

33.25 

26.91 

22.40 

17.25 

9.38 

2.25 

1.02 


4.49 
9.99 
17.96 
27.05 
35.51 
40.94 
44.40 
52.05 
39.04 
31.20 


is 3. 08 
4.06 
4.83 
4.35 
3.38 
2.40 
2.89 
1.43 
1.42 
.94 


(16) 

0.42 
.66 
.71 
.53 
.48 
.48 
.24 
.12 
.01 


2.57 

8.00 

10. 08 

10.87 

9.81 

6.87 

4.68 

3.06 

.11 

1.01 


1.02 




3.48 


10 under 25 ... 


6.13 


25 under 50 


8.48 


50underl00 


9.63 


100 under 150 


12.44 


150 under 300 . 


14.66 


300 under 500 - - 


12.16 


500 under 1,000 


27.02 




9.93 






Total 


61.45 


9.85 


3.46 


.20 


4.86 


2.96 






Returns with no net income 14 


20.64 


28.05 


10.05 


.75 


4.25 


6.05 


Grand total, individual re- 


60.85 


10.11 


3.56 


.20 


4.85 


3.00 









Sources of income — Continued 


Net income classes 


Rents 

and 

royalties 


Business 
profits 


Net capital gain ' 


Net gain 
from sale 
of prop- 
erty 
other 
than cap- 
ital 
assets 10 


Other 
income 




(Thousands of dollars) 


Short- 
term s 


Long- 
term 9 


Total in- 
income 


Returns with net income: 

Under 5 (estimated) 


3.30 
3.92 
3.74 
3.51 
2.72 
2.40 
1.52 
1.58 
1.32 
.06 


10.93 

14.75 

10. S3 

6.98 

4.90 

3.35 

1.45 

.45 

2.50 

.68 


0.33 
.94 
1. 27 
1.35 
1.18 
1.17 
.64 
.27 
.29 
.16 


0.22 
.72 
1.35 
2.18 
3.69 
6.58 
11.36 
18.47 
25. 76 
54.90 


0.09 

.16 
.12 
.07 
.07 
.01 
.01 

(") 
(") 


1.10 
.88 
.95 
1.20 
1.67 
.96 
.66 
.91 
.16 
.09 


100.00 
100. 00 


10 under 25 . 


100.00 


25 under 50 


100. 00 


50 under 100 - 


100. 00 


100 under 150 .. 


100. 00 


150 under 300.. 


100. 00 


300 under 500 


100. 00 


500 under 1,000 


100. 00 


1,000 and over .. 


100. 00 








Total 


3.38 


10.87 


.61 


1.21 


.10 


1.05 


100.00 






Returns with no net income 14 _. 


13.05 


8.14 


2.44 


2.03 


.48 


4.07 


100. 00 


Grand total, individual 


3.52 


10.83 


.64 


1.23 


.11 


1.10 


100. 00 







For footnotes, see p. 33. 



STATISTICS OF INCOME 



33 



Individual returns ' with net income (excluding fiduciary returns), by net income 
classes, also aggregate for individual returns with no net income (excluding fiduciary 
returns), 1938: percentage distribution of sources of income, deductions, and net 
income 2 — Continued 





Deductions 


Net income classes 
(Thousands of dollars) 


Partner- 
ship loss 5 


Business 
loss 


Net long- 
term capi- 
tal loss i ii 


Net loss 
from sale 

of prop- 
erty other 
than capi- 
tal assets 10 


Contribu- 
tions ia 


Returns with net income: 


0.11 
.14 
.23 
.23 
.26 
.15 
.33 
.14 
.12 
.01 


0.37 
.46 
.59 
.73 
.86 
1.00 
1.42 
1.16 
.56 
.34 


1.08 
2.41 
3.72 
4.01 
3.60 
2.67 
2.42 
1.21 
1.94 
.45 


0.09 
.12 
.12 
.12 
.07 
.07 
.04 
.13 
.08 
.31 


1.69 




1.89 


10 under 25 - 


1.98 


25 under 50 


2.35 


50 under 100 


2.88 


100 under 150 


3.73 


150 under 300 


3.90 


300 under 500 


5.10 


500 under 1,000 


5.78 




3.60 






Total 


.14 


.46 


1.81 


.10 


1.89 








11.86 


44.77 


60.30 


6.72 


2.06 






Grand total, individual returns 


.31 


1.10 


2.67 


.20 


1.89 



Net income classes 




Deductions- 


-Continued 






(Thousands of dollars) 


Interest 
paid 13 


Taxes 
paid 13 


Other de- 
ductions 


Total de- 
ductions 


Net income 


Returns with net income: 


2.17 
2.96 
2.60 
2.30 
2.07 
2.17 
1.79 
1.37 
.88 
1.03 


3.11 
4.16 
4.81 
5.20 
5. 43 
5. 45 
5.85 
6.11 
4.41 
3.37 


3.02 
2.78 
2.97 
3.11 
3.27 
3.56 
3.57 
3.60 
3.18 
2.66 


11.64 
14.92 
17.02 
18.05 
18.44 
18.80 
19.32 
18.82 
16.95 
11.77 


88.36 




85.08 


10 under 25 


82.98 


25 under 50 -. 


81. 95 


50 under 100 _. 


81.56 


100 under 150 


81.20 


150 under 300 


80.68 


300 under 500 . . 


81.18 


500 under 1,000 


83.05 


1,000 and over 


88.23 


Total 


2.32 


3.68 


3.00 


13.40 


86.60 








15.07 


14.05 


56.27 


211.10 


(IS) 






Grand total, individual returns 


2.51 


3.83 


3.78 


16.29 


i» 83. 71 



i Unlike text table on pp. 15-16, Statistics of Income for 1937, Part 1, this table excludes taxable fiduciary 
returns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts filed on 
Form 1040 instead of Form 1041. Percentages for individual returns with no net income are included in this 
table for the first time. 

2 For general explanations, see pp. 1-6 and 14-15. 

3 See footnote 4, p. 25. 

4 See footnote 3, p. 21. 
s See footnote 7, p. 25. 
6 See footnote 8, p. 25. 
i See footnote 9, p. 26. 

8 See footnote 10, p. 26. 
' See footnote 11, p. 26. 
10 See footnote 12, p. 26. 
'i See footnote 13, p. 26. 

■ 2 Includes each partner's share of charitable contributions of partnerships. For 1937, such contributions 
were allowed as a deduction in the computation of partnership profit and loss (see footnote 7, p. 25). 
■ 3 See footnote 15, p. 26. 

14 See footnote 8, p. 11. 

1 5 See footnote 18, p. 31. 
i° See footnote 19, p. 31 . 

■ 7 Less than one-hundredth of 1 percent. 

is Percent which deficit is of total income not computed. 

1 9 Percent which net income less deficit is of total income. 



34 



STATISTICS OF INCOME 



FREQUENCY DISTRIBUTION" OF SELECTED SOURCES OF INCOME AND LOSS BY NET 
INCOME CLASSES AND BY SIZE OF EACH SOURCE OF INCOME AND LOSS 

For individual returns with net income of So. 000 and over, there is 
shown in the following table the frequency distribution of selected 
sources of income and loss by net income classes and by size of each 
source of income and loss. 

Partnership profit and partnership loss are shown in the following 
table for the first time. Net short-term capital gain, net long-term 
capital gain, and net long-term capital loss are amounts used in the 
computation of net income and are reported as items 10 (a) and (b) 
on page 1 of Form 1040, facsimile on page 290. Net short-term capital 
loss, which is not reported as an item of loss in the computation of net 
income for 1938, is not included in this table (see section of this report 
entitled ''Capital gains and losses," pages 23-24). 

Individual returns 1 with net income of $5,000 and over (ei chiding fiduciary returns), 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns 

SALARIES AND WAGES 
[Net income classes and salary and wage classes in thousands of dollars] 









Salary and 


vage classes 






Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 


5 under 6 


114.136 

- n 

43. 890 
29,897 
22. 035 
55, 794 

11,115 

6.369 

6.682 

3,280 

1.821 

1.136 

733 

510 

319 

810 

270 

139 

73 

82 

39 

35 

16 

32 


1.009 

689 

459 

358 

288 

B17 

346 

168 

124 

110 

55 

46 

24 

9 

12 

6 

15 

6 

4 

1 

4 

1 

1 

2 

2 


788 

526 

358 

•>- 

233 

547 

243 

110 

87 

81 

42 

19 

18 

16 

3 

5 

9 

4 

1 


584 

387 

283 

226 

160 

435 

184 

97 

72 

67 

40 

19 

20 

4 

7 

1 

10 
2 
3 


478 

334 

210 

163 

131 

371 

154 

77 

46 

58 

21 

10 

8 

7 

7 

3 

9 

3 

2 

1 

1 


409 

247 

175 

141 

89 

248 

112 

76 

37 

31 

13 

11 

6 

9 

3 


1,910 

1,183 

781 

547 

395 

1,084 

4f,2 

220 

159 

139 

72 

40 

31 

20 

8 

11 

18 

8 

6 


3,953 


6 under 7 


2,374 
1.492 


7 under 8. 


8 under 9 


1,006 


9under 10 


664 


10 under In 


1,778 


15 under 20 ... . 


673 


20 under 25 


329 


25 under 30 ....... 


196 


30 under 40 


234 


40 under 50 


99 


Sounder 60 


59 


60 under 70 ... 


40 


70 under 80 


23 


80under90___ 


22 


90 under 100 


5 


100 under 150 

150 under 200 

200 under 250 


6 
1 


29 

7 


250 under 300 




3 


300 under 400 


2 




1 

1 
1 

1 


3 

1 


2 


400 under 500 






500 under 750 


1 

1 




1 


1 


750 under 1,000 




1 

2 




1.000 and over 


2 


1 


3 










Total 


390. 181 




3,382 1 2 fins 


2.0% 


1,618 


7,101 


12,997 



















For footnotes, see p. 47. 



STATISTICS OF INCOME 



35 



Individual returns ' with net income of $5,000 and over {excluding fiduciary returns), 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

SALARIES AND WAGES— Continued 

[Net income classes and salary and wage classes in thousands of dollars] 





Salary and wage classes — Continued 


Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6 . 


4,544 

2.490 

1,418 

914 

682 

1,611 

549 

301 

140 

121 

72 

37 

20 

15 

8 

7 

21 

8 


6,457 

3,093 

1,662 

1,037 

675 

1,603 

555 

258 

139 

133 

67 

36 

23 

12 

10 

4 

14 
3 


11,836 

3,985 

1,789 

1,056 

644 

1,515 

488 

249 

107 

98 

52 

25 

21 

13 

2 

2 

8 

7 

2 

2 

1 

1 

1 

1 


81, 238 

52, 498 

33, 382 

20, 301 

10, 066 

11,200 

2.804 

1,240 

647 

606 

274 

146 

96 

54 

39 

22 

53 

15 

7 

1 

6 


739 

988 

1,663 

3,561 

7,660 

28, 726 

4,459 

1,420 

626 

636 

275 

141 

74 

48 

33 

27 

36 

17 

9 

4 

5 

2 

1 


125 

118 

142 

211 

256 

5,150 

8,329 

1,889 

745 

688 

243 

128 

82 

50 

23 

19 

33 

9 

8 

5 

6 

2 

1 

3 

2 


37 

38 

36 

51 

54 

460 

2,153 

3,198 

906 

656 

275 

130 

71 

35 

32 

18 

54 

15 

10 

3 

4 

4 

1 

1 


14 


6 under 7 


12 


7 under 8 


23 


8 under 9., 


15 




23 




132 


15 under 20 


314 


20 under 25 


1,200 


25 under 30 


1,435 


30 under 40 


754 


40 under 50 .._ 

50 under 60 


278 
113 


60 under 70 


71 


70 under 80 


35 


80 under 90 


30 


■90under 100 


14 


100 under 150 

150 under 200 

200 under 250 


31 
12 

7 


250 under 300 

300 under 400 

400 under 500 


3 

3 


1 
2 
1 
1 
1 


2 
4 
1 


500 under 750 




2 


2 


750 under 1,000 




1 






1 


2 


4 














Total 


12, 964 


15, 787 


21, 905 


214, 698 


51, 152 


18, 267 


8,242 


4,527 








Salary and wage classes — Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 




6 

6 

6 

12 

7 

67 

119 

224 

825 

1,777 

502 

235 

112 

69 

53 

28 

80 

18 

9 

10 

7 

7 

5 

1 

2 


3 
4 
3 

5 

2 

27 

26 

35 

51 

393 

608 

187 

96 

54 

33 

17 

59 

16 

8 

5 

5 

3 

4 


6 

3 

4 

4 

3 

18 

14 

17 

26 

90 

280 

407 

317 

140 

86 

45 

91 

34 

12 

7 

5 

5 

6 

2 

5 












6 under 7 


2 

2 

1 

3 

3 

6 

6 

1 

4 

10 

27 

6 

110 

82 

54 

72 

18 

12 

9 

9 

2 
1 
3 












2 
















9 under 10.. _ __ . . 












2 
1 

1 








15 under 20 








20 under 25. 








25 under 30 








30 under 40 


6 
2 
5 








40 under 50.. . 








50 under 60. _ 








60 under 70 








70 under 80 


10 

17 

31 

162 

66 

28 

13 

6 

8 

4 








80 under 90... 








SOunder 100 








100 under 150. .. 








150 under 200 


1 
6 
3 
6 
2 






200 under 250. .. 






250 under 300 . 






300 under 400... 






400 under 500 






500 under 750 






750 under 1,000 










1 


2 
















Total 


4,187 


1,645 


1,627 


443 


366 


18 













For footnotes, see p. 47. 



36 



STATISTICS OF INCOME 



Individual returns l with net income of $5,000 and over {excluding fiduciary returns), 
1988, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

DIVIDENDS 2 

[Net income classes and dividend classes in thousands of dollars] 





Dividend classes 


Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 
2 




82, 365 

55, 678 

38, 498 

28, 432 

21, 733 

61, 098 

26, 661 

14, 174 

8,398 

9, 054 

4, 552 

2,576 

1,561 

1,014 

744 

487 

1,169 

378 

211 

102 

122 

57 

65 

31 

50 


22, 097 

12, 932 

7,812 

5,096 

3,506 

7,725 

2,319 

877 

419 

354 

169 

62 

33 

13 

18 
15 
1 
6 


11,811 

6,628 

4,140 

2,819 

2,000 

4,805 

1,434 

592 

317 

265 

88 

43 

13 

11 

11 

8 

6 


6,849 

4,517 

2,910 

1,969 

1, 357 

3,495 

1, 050 

525 

252 

200 

85 

33 

24 

23 

3 

3 

11 


5,010 

3, 260 

2,252 

1,486 

1,110 

2,694 

925 

377 

182 

157 

80 

31 

14 

17 

9 

5 

6 

2 

1 

1 

2 


3,702 

2,598 

1,682 

1,201 

922 

2,231 

763 

346 

158 

148 

67 

36 

21 

11 

7 

3 

9 

2 

2 


11,123 

7,897 

5,445 

3,919 

3,001 

7,793 

2,722 

1,162 

633 

546 

212 

120 

48 

23 

27 

15 

23 

11 

6 

2 

3 


9,130 


6 under 7 


6,971 


7 under 8 


5,038 




3,927 




2,970 




8,077 


15 under 20 


3,324 


20 under 25 


1,604 


25 under 30 . . 


788 


30 under 40 


710 


40 under 50 


280 


50 under 60 

60 under 70 


134 

79 


70 under 80 


59 


80 under 90 


36 


90 under 100 


12 


100 under 150 

150 under 200 


44 
10 


200 under 250 

250 under 300 


1 


1 

2 

1 


4 
2 


300 under 400 








4 


400 under 500 










500 under 750 


1 




1 








3 


750 under 1,000 

1,000 and over 




1 






1 


2 










2 














Total 


359, 210 


63, 464 


34,992 


23, 311 


17, 622 


13, 909 


44,731 


43,209 









Dividend classes — Continued 


Net income classes 


2 under 
3 


3 under 

4 


4 under 
5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 




4,375 

3,504 

2,745 

2,161 

1,675 

4,818 

2,231 

1,012 

631 

569 

225 

122 

71 

42 

21 

9 

28 

13 

3 


2,652 

2,095 

1,669 

1,434 

1,134 

3,546 

1,617 

800 

422 

425 

194 

78 

44 

28 

15 

7 

21 

3 

3 

3 

2 

1 


1,894 

1,437 

1,103 

958 

825 

2, 667 

1,320 

639 

372 

343 

151 

69 

48 

23 

10 

15 

10 

5 

1 

1 

1 


3,334 

3,403 

3,196 

2,815 

2,367 

7,787 

4,142 

2,375 

1, 272 

1,299 

530 

267 

160 

87 

56 

38 

97 

20 

5 

3 

4 

1 

1 


250 

276 

340 

481 

675 

3,938 

2,284 

1,438 

904 

939 

413 

198 

81 

63 

42 

25 

53 

15 

12 

6 


65 

65 

96 

83 

107 

935 

1,569 

979 

624 

779 

339 

181 

96 

33 

34 

21 

43 

24 

8 

1 

4 

4 


23 

39 

30 

39 

40 

279 

559 

805 

487 

618 

312 

162 

75 

46 

36 

21 

45 

11 

7 

2 

2 

1 

2 


12 




24 


7 under 8 


11 




16 


9under 10 


13 


10 under 15.. 


116 


15 under 20 


160 


20 under 25 _. 


337 


25 under 30. 


456 


30 under 40.-- 


476 


40 under 50 


289 


50 under 60 _ 


146 


60 under 70 


86 


70 under 80 


38 


80 under 90- _. 


21 


90 under 100 


24 


100 under 150 

150 under 200 

200 under 250_ 

250 under 300 


36 
9 
3 
2 


300 under 400 




3 


400 under 500 


1 
1 


1 




500 under 750 


1 




750 under 1,000 








2 














1 




3 


















Total 


24, 257 


16, 193 


11,893 


33, 259 


12, 434 


6,091 


3,641 


2,282 







For footnotes, see"p.'47. 



STATISTICS OF INCOME 



37 



Individual returns l with net income of $5,000 and over (excluding fiduciary returns), 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

DIVIDENDS s— Continued 

(Net income classes and dividend classes in thousands of dollars] 





Dividend classes— Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 

75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 




19 

15 

17 

16 

14 

97 

127 

189 

338 

796 

469 

262 

139 

99 

45 

35 

56 

25 

6 

4 

4 

2 


10 

9 

3 

7 

6 

46 

58 

59 

72 

266 

370 

221 

140 

86 

57 

22 

58 

17 

6 

5 

5 

2 

7 

1 

1 


4 

5 

7 

4 

5 

34 

40 

38 

51 

131 

220 

339 

301 

171 

135 

77 

150 

26 

10 

5 

6 


2 
3 
1 


3 


















1 
2 
4 
6 
4 
6 
7 

12 

16 

28 

26 

30 

36 

58 

318 

153 

77 

30 

14 

8 

9 

3 

7 


















2 

9 

12 

13 

13 

21 

42 

42 

60 

110 

134 

71 

133 

22 

13 

3 

7 

4 

4 

2 

4 
















15 under 20 




1 




20 under 25 


1 




25 under 30 






30 under 40 








40 under 50 


i 
l 

2 
1 

2 






50 under 60 


1 




60 under 70 




70 under 80 






80 under 90 






90 under 100 








7 
8 
33 
27 
53 
23 
10 
2 
10 






150 under 200 

200 under 250 

250 under 300 

300 under 400. 


1 
3 
3 
6 
9 
18 
13 
6 








1 


500 under 750 


6 
3 
1 


1 


750 under 1,000 

1,000 and over 


1 

1 


2 
12 


Total 


2,776 


1,534 


1,769 


727 


858 


181 


61 


16 







PARTNERSHIP PROFITS 
[Net income classes and partnership profit classes in thousands of dollars] 





Partnership profit classes 


Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 




18, 529 

13,017 

8,968 

6,610 

5,083 

14, 284 

6,262 

3,402 

2, 037 

2,153 

1,095 

569 

388 

215 

153 

110 

198 

54 

24 

7 

19 

5 

7 

4 

3 


771 

494 

339 

228 

178 

498 

219 

136 

68 

69 

38 

20 

5 

8 

4 

7 

6 

4 

1 


432 

320 

228 

167 

130 

304 

124 

80 

40 

37 

15 

14 

11 

7 

4 

4 

4 

3 


433 

263 

160 

129 

97 

263 

111 

61 

19 

35 

22 

6 

3 

3 

2 

3 
1 


352 

220 

129 

120 

82 

210 

83 

43 

27 

34 

6 

4 

5 

1 

2 

2 


343 
217 
145 
93 
71 
178 
71 
32 
35 
29 
14 
11 
7 


1,259 

773 

496 

339 

237 

675 

273 

133 

80 

79 

42 

17 

13 

7 

3 

6 

9 

4 


1,691 




1,069 


7 under 8 


679 


8 under 9 


455 


9under 10.. 


340 


10 under 15 


905 


15 under 20 


351 


20 under 25 . 


157 


25 under 30 . . 


103 


30 under 40 


110 


40 under 50 


65 


50 under 60 


25 


60 under 70 _ 


20 


70 under 80 


5 


80 under 90 




8 


90 under 100 




4 


100 under 150 

150 under 200 


5 


14 


200 under 250 




1 




250 under 300 








1 
1 




300 under 400 


1 










3 


400 under 500 






1 




2 




1 

1 




1 






1 


750 under 1,000 

1,000 and over 








1 












1 
















Total 


83, 196 


3.096 


1,924 


1,612 


1,321 


1,252 


4,447 


6,009 







For footnotes, see p. 47. 



38 



STATISTICS OF INCOME 



Individual returns l with net income of $5,000 and over (excluding fiduciary returns), 
1988, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

PARTNERSHIP PROFIT ^-Continued 

[Net income classes and partnership profit classes in thousands of dollars] 





Partnership profit classes— Continued 


Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6.. 


1,333 

824 

496 

382 

244 

576 

263 

109 

49 

73 

33 

12 

10 

6 

4 

6 

6 


1,320 

770 

456 

289 

201 

487 

188 

92 

60 

45 

30 

g 

2 
4 
5 
4 
2 
3 
1 


1,723 

830 

490 

285 

215 

488 

172 

83 

51 

42 

23 

15 

10 

4 

6 

3 


8,704 

7,012 

5,011 

3,480 

2,051 

2,565 

676 

305 

162 

149 

71 

27 

31 

21 

9 

4 

11 

2 

2 


122 

192 

287 

582 

1,165 

5,927 

901 

274 

136 

143 

50 

30 

16 

10 

7 

2 

5 

1 

3 


29 

21 

35 

48 

46 

1,041 

2,150 

463 

159 

103 

33 

18 

13 

4 

4 

1 

3 

2 


8 
6 
10 
4 

12 

105 

549 

989 

242 

134 

55 

19 

17 

8 

4 

2 

6 

2 


5 


6 under 7 


4 


7 under 8 


3 


8under9 


1 


Sunder 10 


6 


lOunder 15 


36 


15 under 20 


79 


20 under 25 


•330 


25 under 30_-_ 


487 


30 under 40 


179 


40 under 50 


44 


Sounder 60 


21 


60 under 70 


10 


70 under 80 


5 


80 under 90 


5 


rounder 100 


6 


100 under 150 

150 under 200 


3 
1 


200 under 250 . 


1 

1 






250 under 300 






300 under 400 






2 


3 








400 under 500 . 














500 under 750 




1 




3 










750 under 1,000 








1 














1 






















Total 


4,428 


3,969 


1, 1 10 


30, 298 


9,857 


4,173 


2,173 


1,225 













Partnership profit classes— Continued 






Net income classes 


30 under 
40 


40 under 

50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 




2 

1 

2 

3 

7 

19 

30 

84 

274 

671 

131 

57 

27 

12 

7 

6 

7 

2 

2 


1 


1 
1 


























2 
4 












8 under 9 




i 

1 










9 under 10 .. 














6 

14 

22 

30 

184 

286 

54 

27 

12 

5 

3 

3 

3 

1 

1 


1 

7 

5 

12 

32 

130 

195 

131 

38 

16 

12 

20 

3 

1 










15 under 20 


1 

3 
2 
5 
5 
8 

26 
57 
47 
24 
16 










20 under 25 


1 
1 








25 under 30 








30 under 40 








40 under 50 


2 
7 
4 
3 
11 
17 
72 
25 
8 








50 under 60 . 








60 under 70 








70 under 80 








80 under 90 








90 under 100 








100 under 150 








150 under 200 








200 under 250 




1 
4 
6 






250 under 300 








300 under 400 




2 




1 






400 under 500 




1 


1 






BOO under 750 














750 under 1,000 


1 






























1 




















Total 


1,345 


659 


607 


197 


152 


11 




1 









For footnotes, see p. 47. 



STATISTICS OF INCOME 



39 



Individual returns 1 with net incomi of $5,000 and over (excluding fiduciary returns), 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

PARTNERSHIP LOSS 3 
[Net income classes and partnership loss classes in thousands of dollars] 





Partnership loss classes 


Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 


5 under 6 


1,431 

999 

780 

606 

418 

1,392 

711 

399 

272 

278 

195 

113 

76 

47 

36 

23 

66 

29 

15 

6 

9 

8 

2 

4 

5 


269 

214 

148 

117 

72 

234 

114 

59 

45 

45 

18 

5 

4 

1 

2 

2 

6 

4 


196 

139 

94 

72 

61 

164 

62 

34 

16 

13 

18 

4 

3 

9 

4 


140 

110 

80 

55 

37 

124 

47 

24 

22 

16 

13 

6 

3 

1 

1 

1 

6 

1 

1 


103 
82 
64 
46 
27 
100 
44 
17 
18 
17 
14 
8 
5 
2 
2 
1 
2 
5 
1 


87 
49 
44 
50 
31 
64 
44 
19 
14 
6 
8 
9 
8 
2 
1 
2 
4 


257 
152 
144 
99 
59 
234 
106 
68 
40 
49 
28 
13 
11 
10 
3 


212 

117 

98 

93 

64 

202 

11* 

61 

36- 

42 

30 

22 

12 

4 

3 

4 


6 under 7 


7 under 8 




9 under 10. _ ... 




15 under 20 


20 under 25 


25 under 30 


30 under 40 .. 


40 under 50... 


50 under 60 


60 under 70 


70 under 80 


80 under 90 


90 under 100 


100 under 150.. 

150 under 200 


3 

2 


5 
3 
1 


13 

2 


200 under 250 


1 


3 


250 under 300 


1 




1 


300 under 400 








2 




400 under 500 


1 


2 








i 


500 under 750 








1 




750 under 1,000 














1,000 and over 










1 




I 
















Total 


7,920 


1,361 


896 


688 


558 


444 


1,285 


1,135 










Partnership loss classes— Con 


tinued 






Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6 


83 
44 
42 
30 
22 
99 
48 
38 
20 
21 
15 
12 
10 
2 
6 
5 
2 
1 


23 
22 
22 
14 
17 
64 
22 
22 
14 
22 
16 
5 
2 
2 


19 
19 
9 
8 
3 
32 
21 
9 
9 
10 
5 
5 
2 
3 
4 
1 
3 


26 
36 
25 
13 
17 
49 
61 
24 
20 
18 
11 
8 
7 
6 
6 
2 
8 
6 
3 
1 
1 


10 
9 
7 
7 
6 

15 

13 
7 
6 

13 
4 
4 
1 
1 
1 


3 
3 
1 






6under 7 


3 




7 under 8 . 




8 under 9.. 


1 


9 under 10 


1 
6 
3 
6 
8 
3 
4 
2 
2 
3 




1 




2 
8 
6 


2 


15 under 20 


20 under 25 




25 under 30. 


2 


30 under 40 






40 under 50 


5 
3 
2 


1 


50 under 60 


2 


60 under 70 


2 


70 under 80 




80 under 90 


1 




90 under 100 


4 
6 
1 
3 
1 




1 


100 under 150 


6 








150 under 200 


1 






200 under 250 




1 




1 


250 under 300 




1 








300 under 400 


3 
3 




1 
1 




I 


400 under 500 












500 under 750 














750 under 1,000 




2 

2 










1 




1,000 and over 


1 


























Total 


507 


286 


163 


348 


111 


48 


31 


1ft 



For footnotes, see p. 47. 



40 



STATISTICS OF INCOME 



Individual returns • with net income of $5,000 and over (excluding fiduciary returns), 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

PARTNERSHIP LOSS »— Continued 

[Net income classes and partnership loss classes in thousands of dollars] 





Partnership loss classes— Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 

75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 


5 under 6 


2 


1 














6 under 7 














7 under 8 




1 














8 under 9 


1 














9 under 10 . 


























1 








15 under 20 




1 
3 
1 

2 
1 
1 
1 


1 
1 






1 




20 under 25 


1 










25 under 30 




1 








30 under 40 






1 
2 








40 under 50 


2 
3 
1 












50 under 60. 


1 










60 under 70 












70 under 80 „ 






1 








Sounder 90 


2 














Sounder 100 
















100 under 150 


1 
2 




1 












150 under 200 






1 






200 under 250 






1 








250 under 300 
















300 under 400 


1 
















400 under 500 
















500 under 750 


1 
















750 under 1,000 


1 
















































Total 


17 


13 


4 


4 


3 


1 


1 









BUSINESS PROFIT < 
[Net income classes and business profit classes in thousands of dollars] 





Business profit classes 


Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 




33, 813 

21, 360 

13, 590 

9, 052 

6,535 

15, 469 

5,530 

2,536 

1,309 

1,271 

579 

274 

157 

97 

72 

46 

83 

21 

17 

3 

4 

3 

2 

3 

4 


460 

295 

175 

141 

66 

210 

80 

46 

19 

20 

18 

3 

4 

1 

2 

1 

2 

1 


399 

225 

142 

81 

57 

166 

60 

34 

20 

16 

4 

2 


333 

213 

124 

78 

56 

129 

59 

25 

12 

9 

4 

2 

2 

1 

1 


281 

161 

104 

77 

38 

125 

52 

16 

3 

14 

6 

3 


285 

162 

99 

58 

32 

118 

40 

23 

8 

8 

6 

2 

1 


1,192 

668 

406 

256 

134 

453 

167 

71 

29 

47 

19 

8 

3 

5 


1,797 




1,078 




638 




365 


9under 10 


264 




576 


15 under 20 


198 


20 under 25 


95 


25 under 30 


66 


30 under 40 


43 


40 under 50. 


30 


50 under 60 


6 


60 under 70 


9 


70 under 80 . 




3 


80 under 90 


4 


1 




3 


90 under 100 




1 
2 
1 


2 


100 under 150 


6 
1 

1 


1 
1 


1 


2 


150 under 200 


1 


2 


200 under 250 . 




2 


250 under 300 .. 














300 under 400 




1 










1 


400 under 500 














500 under 750 
















750 under 1 ,000 
















































Total 


111,830 


1,544 


1,219 


1,049 


883 


843 


3,462 


5,180 







For footnotes, see p. 47. 



STATISTICS OF INCOME 



41 



Individual returns l with ret income of $5,000 and over (excluding fiduciary returns), 
1928, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

BUSINESS PROFIT <— Continued 

[Net income classes and business profit classes in thousands of dollars] 









Business profit classes— Continued 






Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 




1,908 

1,032 

599 

360 

212 

477 

167 

71 

51 

29 

14 

5 

10 

6 

1 


2,548 

1,134 

592 

332 

208 

416 

120 

44 

40 

26 

17 

11 

1 

1 


4,132 

1,430 

704 

395 

229 

449 

120 

39 

26 

25 

7 

7 

2 

3 

3 


20, 208 

14, 665 

9,628 

6,172 

3,548 

3,178 

574 

221 

97 

95 

30 

20 

6 

3 

6 

4 

7 

1 


218 

234 

330 

721 

1,620 

8,014 

954 

231 

74 

65 

30 

12 

10 


26 
39 
24 


9 

7 

14 

9 

9 

110 

453 

914 

184 

93 

23 

9 

5 

3 


5 




2 




5 






9under 10 


49 

1,007 

2,404 

417 

94 

59 

21 

3 

5 

6 

3 

1 

4 

2 


7 




16 


15 under 20 


47 


20 under 25 


218 


25 under 30 


399 


30 under 40 


132 


40 under 50 


27 


50 under 60 .- 


8 


60under70 


4 


70 under 80 


1 


80 under 90 


1 
3 
3 
1 




90 under 100 


1 


4 




100 under 150 








150 under 200 . 






1 
3 
1 




1 


200 under 250 


1 




2 


1 


250 under 300 . 












300 under 400 


1 














400 under 500 








2 








500 under 750 




1 












750 under 1,000 

1,000 and over 


1 














































Total 


4,945 


5,492 


7,576 


58, 463 


12, 523 


4,164 


1,848 


873 













Business profit classes— Continued 






Net income classes 


30 under 
40 


40 under 
50 


50 under 75 under 
75 100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 




7 

7 

3 

3 

2 

18 

28 

47 

167 

476 

81 

18 

7 

2 

2 

2 

5 




5 

6 

1 

2 

1 

3 

3 

9 

6 

23 

53 

114 

68 

30 

9 

2 

6 

1 

2 

1 














1 

2 

2 

3 

4 

4 

11 

13 

89 

186 

36 

11 

3 

3 

1 

1 

1 


1 
























































15 under 20 












20 under 25 


1 


3 
1 
2 








25 under 30 








30 under 40 










40 under 50 


3 
5 

8 
24 
30 
17 

5 








50 under 60 










60 under 70 


1 
5 
4 
6 
38 
6 
2 








70 under 80 








80 under 90 








90 under 100 








100 under 150 








150 under 200 








200 under 2.50 




1 

1 


2 






250 under 300 










300 under 400 


1 












400 under 500 










1 
1 






500 under 750 
















750 under 1,000 












2 




1,000 and over 






2 






2 


















Total 


876 


371 


347 


96 


68 


6 


2 









For footnotes, see p. 47. 



42 



STATISTICS OF INCOME 



Individual returns * with net income of $5,000 and over (excluding fiduciary returns) r 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

BUSINESS LOSS * 
[Net income classes and business loss classes in thousands of dollars] 











Business loss classes 








Net. income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 


5 under 6 


3,225 

2,300 

1,597 

1,248 

1,006 

2,843 

1, 335 

830 

534 

645 

340 

226 

153 

108 

54 

38 

179 

48 

35 

21 

12 

10 

17 

6 

16 


367 

225 

136 

93 

73 

162 

57 

49 

17 

21 

10 

9 

3 

2 

1 


348 

223 

129 

87 

62 

173 

65 

36 

14 

20 

10 

6 

3 

4 

1 


276 

186 

97 

81 

61 

149 

44 

30 

4 

16 

4 

5 

4 

1 


199 

168 

94 

79 

56 

117 

56 

30 

14 

22 

8 

5 

2 

1 

2 


218 
113 
81 
64 
44 
156 
47 
23 
14 
16 
10 
6 
4 
2 


655 

472 

313 

230 

187 

537 

202 

130 

57 

68 

30 

17 

12 

3 

2 

3 

5 

1 

4 


563 


6 under 7 


428 




339 




259 


9 under 10 .. 


218 


10 under 15 


590 


15 under 20 


280 


20 under 25. 


158 


25 under 30... . 


104 


30 under 40 

40 under 50 


121 

50 


50 under 60 


30 


60 under 70 


22- 


70 under 80 


13 


80 under 90 


6 


90 under 100 . 




1 
3 
1 


8 


100 under 150.. 

150 under 200 


1 


4 


1 


3 


18 
4 


200 under 250 . 










6 


250 under 300 






1 






1 


300 under 400 




1 
1 






1 
2 




400 under 500 . 












500 under 750 . . 


1 

1 








1 


750 under 1,000 














1,000 and over 






























Totals 


16, 826 


1,228 


1,187 


960 


856 


803 


2,931 


3, 219- 





Business loss classes— Continued 


Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6_ 


244 

217 

149 

122 

115 

329 

167 

93 

78 

82 

44 

23 

14 

13 

7 

2 

14 

3 

4 


134 

98 

104 

88 

49 

181 

118 

77 

36 

55 

28 

15 

21 

10 

8 

3 

14 
2 
1 
2 


82 

70 

48 

37 

36 

111 

67 

48 

47 

38 

28 

20 

10 

8 

6 

4 

7 

5 

3 

2 


111 

80 

82 

81 

■ 75 

207 

151 

97 

91 

115 

78 

47 

31 

23 

11 

7 

49 

9 

6 

3 

2 

2 

5 


18 

9 

16 

13 

17 

77 

37 

29 

28 

35 

20 

17 

14 

7 

5 

5 

24 

7 

2 

5 

3 

1 

2 

2 


5 
4 
3 
6 
6 
27 
17 
14 
13 
18 
8 
7 
6 
8 
2 

6 
7 
5 
1 
1 


2 
1 
1 
1 
4 
12 
14 
8 
5 
9 
4 
8 
1 
3 


1 


6 under 7 


5 


7 under 8 


2' 


8 under 9 


4 


9 under 10 






6 


15 under 20 


6. 


20 under 25 


1 


25 under 30 


2 


30 under 40 


2 


40 under 50. _.. 


1 


50 under 60 




60 under 70 


2 


70 under 80 


1 


80 under 90 




90 under 100... 


1 
13 
3 


1 


100 under 150 

150 under 200 

200 under 250 


4 
2 


250 under 300 - 




1 


300 under 400 






1 


400 under 500 










1 


500 under 750 


1 


1 
1 








1 


750 under 1,000 


1 
4 






1,000 and over 


2 




4 


2 


1 










Total 


1,723 


1,046 


677 


1,367 


393 


169 


92 


45 







For footnotes, sec p. 47. 



STATISTICS OF INCOME 



43 



Individual returns l with net income of $5,000 and over (excluding fiduciary returns), 
193S, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

BUSINESS LOSS*— Continued 

[Net income classes and business loss classes in thousands of dollars] 





Business loss classes — Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1 ,000 and 
over 


5 under 6 


2 
















6 under 7 


1 














7 under 8 


2 
3 
1 
5 
5 
4 
5 
2 
2 
6 
1 
5 






1 








8 under 9 














9 under 10 


1 
2 


1 
2 
1 
1 
1 
3 
1 
1 
1 












10 under 15 












15 under 20 


1 
1 
1 










20 under 25 




1 








25 under 30 


3 
2 








30 under 40 _ 










40 under 50 


2 


2 
2 
2 
1 
1 








50 under 60. 


2 








60 under 70 








70 under 80 


3 

1 








80 under 90 


1 
1 










90 under 100 


2 
11 
1 
1 
3 








100 under 150 


1 




1 








150 under 200..- 


2 
1 






1 




200 under 250 


1 


1 
1 






250 under 300 






1 
1 




300 under 400 


1 
2 
3 


1 


i 
l 






400 under 500 










500 under 750 


1 










750 under 1,000 




1 
1 








1,000 and over 


1 




1 






















Total -.. 


63 


22 


19 


8 


15 




3 











NET SHORT-TERM CAPITAL GAIN'* 
[Net income classes and net short-term capital gain classes in thousands of dollars] 





Net short-term capital gain classes 


Net income classes 


Aggregate 


Under 0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 


5 under 6 

6 under 7 


11,810 

8,835 

6,400 

4,920 

3,907 

11, 856 

5,518 

3,182 

1,954 

2,281 

1,061 

643 

373 

242 

183 

102 

301 

97 

65 

27 

29 

14 

25 

13 

17 


2,802 

2,038 

1,437 

1,118 

823 

2,493 

1,047 

572 

379 

397 

203 

114 

70 

43 

28 

20 

55 

22 

9 

4 

5 

1 

3 


1,851 

1,248 

863 

639 

448 

1,342 

589 

325 

205 

169 

90 

56 

19 

23 

17 

7 

29 

5 

9 


1,217 

886 

617 

437 

359 

973 

427 

233 

158 

162 

72 

40 

19 

16 

11 

5 

21 

4 

2 


950 

646 

490 

371 

304 

764 

337 

181 

103 

126 

74 

40 

20 

10 

15 

6 

12 

5 

6 

3 


701 

530 

382 

274 

211 

639 

295 

154 

86 

91 

44 

22 

21 

9 

2 

6 

10 

4 

1 


1,986 

1,459 

1,083 

818 

654 

2,022 

918 

537 

309 

373 

133 

104 

57 

33 

19 

6 

34 

13 

10 

3 

5 

2 

5 


1,300 
1 086 


7 under 8 - 


757 


8 under 9 

9 under 10 


628 
540 


10 under 15 


1 671 


15 under 20 


787 


20 under 25 


491 


25 under 30 .. 


297 


30 under 40 


320 


40 under 50 


151 


50 under 60 


85 


60 under 70 


43 


70 under 80 


36 


80 under 90 


25 


90 under 100... 


9 


100 under 150 

150 under 200 

200 under 250 

250 under 300 


43 
12 
8 
2 


300 under 400 


5 

2 
5 


1 


1 

4 
1 


5 


400 under 500 




1 


500 under 750 




1 
2 


1 


750 under 1,000 


2 
1 


1 


1,000 and over 






2 


2 


4 












Total 


63, 855 


13, 683 


7,946 


5,663 


4,466 


3,490 


10, 585 


8,303 







For footnotes, see p. 47. 
299429—41 4 



44 



STATISTICS OF INCOME 



Individual returns 1 with net income of $5,000 and over {excluding fiduciary returns), 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

NET SHORT-TERM CAPITAL GAIN > 8— Continued 

[Net income classes and net short-term capital gain classes in thousands of dollars] 





Net short-term capital gain classes— Continued 


Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 




464 

414 

317 

280 

214 

660 

320 

200 

127 

170 

78 

39 

34 

27 

8 

5 

15 

7 

2 

4 

2 

1 

2 

1 

1 


242 
203 
165 
120 
115 
359 
195 
124 

71 
111 

32 

25 
8 
8 

10 

13 
3 
3 


130 

109 

99 

72 

46 

219 

133 

72 

38 

46 

24 

27 

11 

5 

6 

8 

11 

3 

1 


140 

199 

163 

140 

150 

482 

288 

143 

86 

159 

71 

43 

34 

13 

15 

9 

20 

10 

5 

5 

3 

1 


24 

12 

19 

20 

29 

171 

105 

57 

36 

57 

26 

14 

10 

5 

7 

3 

11 

2 

5 

1 






2 




2 

4 

1 

9 

46 

50 

48 

18 

29 

17 

9 

8 

4 

7 

4 

3 

1 

1 


1 

2 

1 

2 

7 

14 

25 

16 

26 

10 

3 

5 

1 

3 

1 

6 

1 

2 

2 


1 




1 






9 under 10- . 


1 




3 


15 under 20 


4 


20 under 25 


9 


25 under 30 


10 


30 under 40 


8 


40 under 50 


10 


50 under 60 




60 under 70 _ . 




70 under 80 




80 under 90 


3 


90 under 100 .. 


1 


100 under 150 


1 


200 under 250 

250 under 300 


1 




1 












1 
3 
2 
2 










1 

2 
1 




1 

1 




1 


750 under 1,000 

1,000 and over 




1 
2 


1 
1 














Total 


3,392 


1,819 


1,060 


2,182 


622 


263 


130 


56 








Net short-term capital gain classes— Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 






1 




















1 












1 


















1 
1 
2 
4 
1 
3 
3 
5 
6 
6 
7 
4 
2 
5 
3 
1 












9 under 10 






1 












3 
4 
8 
9 
29 
13 
5 
3 
1 












15 under 20 






1 










2 
3 
4 

8 
8 
4 










25 under 30 












30 under 40 


1 




















50 under 60 


3 

1 




















70 under 80 


1 

1 








80 under 90 


2 

1 
2 
2 








90 under 100 


2 
3 








100 under 150 


1 


6 








150 under 200 








200 under 250 














250 under 300 




1 




1 








300 under 400 




1 










400 under 500 






1 










500 under 750 






1 










750 under 1,000 
























1 


























Total 


81 


38 


56 


10 


10 





















For footnotes see p. 47. 



STATISTICS OF INCOME 



45 



"individual returns l with net income of $5,000 and over {excluding fiduciary returns), 
1938, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued 

NET LONG-TERM CAPITAL GAIN'S 

[Net income classes and net long-term capital gain classes in thousands of dollars] 





Net long-term capital gain classes 


Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 

1 


1 under 2 




8,731 

6,513 

4,665 

3,798 

2,996 

9,243 

4,604 

2,730 

1,702 

1,983 

1,052 

656 

434 

311 

244 

158 

448 

181 

99 

52 

57 

41 

38 

22 

43 


2,738 

1,996 

1,249 

1,065 

804 

2,186 

914 

490 

282 

300 

138 

88 

49 

47 

24 

19 

37 

12 

3 

5 

2 


1,343 

896 

659 

488 

361 

1,103 

498 

273 

158 

175 

65 

51 

27 

14 

9 

7 

20 

13 

1 

2 


872 

625 

450 

3!9 

233 

728 

319 

166 

128 

105 

47 

22 

18 

18 

9 

3 

17 
2 
1 
1 


600 

414 

319 

229 

193 

546 

266 

149 

96 

77 

69 

26 

14 

9 

10 

1 

7 

6 


428 

290 

213 

182 

122 

403 

176 

101 

59 

74 

28 

20 

10 

6 

4 

4 

6 


1,132 

859 

636 

511 

406 

1,282 

635 

367 

194 

227 

115 

55 

37 

24 

16 

13 

35 

12 

2 

2 

3 

3 


778 


6 under 7 .. 


697 




535 


Sunder 9 


420 


9 under 10. 


336 




1,085 


15 under 20 


535 


rounder 25 


353 


25 under 30. 


186 


30 under 40 


256 


40 under 50 

50 under 60 


121 
60 


60 under 70.. 


54 


70 under 80 


22 


sounder 90 


24 


sounder 100 


12 


100 under 150 

150 under 200 


36 

12 


200 under 250 


3 

1 
1 
1 


5 


250 under 300 


1 
1 




300 under 400 




400 under 500 




1 
2 


3 






1 


1 


750 under 1,000 




1 
















1 


















Total 


50, 801 


12, 448 


6,164 


4,086 


3,033 


2,132 


6,567 


5,532 










Net 


long-term 


capital gai 


n classes — 


Continued 






Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 




359 

304 

212 

186 

155 

546 

279 

190 

110 

106 

62 

51 

28 

20 

22 

7 

20 

9 

1 

1 


225 

147 

128 

116 

104 

330 

190 

93 

76 

80 

44 

.32 

14 

11 

5 

7 

17 

2 

3 

1 

3 

1 


117 
99 
89 
83 
72 
232 
129 
73 
55 
72 
31 
19 
17 

8 
13 

4 
10 

3 

5 


127 

172 

153 

178 

194 

564 

395 

211 

145 

215 

108 

61 

35 

27 

19 

23 

40 

12 

8 

4 

7 

3 

1 


8 

9 

15 

13 

11 

198 

192 

127 

82 

95 

56 

38 

25 

14 

12 

6 

19 

9 

6 

2 

1 

1 

1 


2 

2 

5 

5 

2 

22 

17 

86 

45 

67 

46 

33 

14 

13 

12 

3 

16 

9 

5 

2 

1 
1 


1 
1 










I 




3 
2 
10 
13 

35 
51 
51 
33 
31 
22 
4 

12 
9 
9 
7 
4 




^ under 10 




10 under 15 


2 


15 under 20 


4 


20 under 25 


6 


25 under 30 


21 


30 under 40 


37 


40 under 50 


30 


50 under 60 


17 


60 under 70 


12 


70 under 80 .. 


8 


80 under 90 . . 




90 under 100 


6 


100 under 150.. 

150 under 200 

200 under 250 

250 under 300 


16 
3 
1 


300 under 400 . 


1 
2 


1 
1 




400 under 500 






500 under 750 


2 


1 


750 under 1,000... 






2 














1 






















Total 


2,670 


1,629 


1,134 


2,702 


941 


438 


302 


165 







For footnotes, see p. 47. 



46 



STATISTICS OF INCOME 



Individual returns l with net income of $5,000 and over {excluding fiduciary returns), 
19S8, by net income classes and by size of selected sources of income and loss: 
number of returns — Continued. 

NET LONG-TERM CAPITAL GAIN e 8— Continued 

[Net income classes and net long-term capital gain classes in thousands of dollarsl 







Net long-term capital gain classes 


—Continued 




Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 




1 


















1 


1 














1 




























9 under 10 






1 














5 
5 
4 

10 

34 

41 

27 

18 

16 

13 

8 

26 

5 

1 

2 

1 

2 


1 

3 

2 

2 

6 

15 

13 

18 

14 

12 

9 

15 

4 

4 

1 

3 

1 












15 under 20 


1 

2 

2 

3 

2 

10 

22 

33 

23 

11 

38 

12 

6 

2 

2 


2 
1 


1 
1 








20 under 25 








25 under 30 








30 under 40 


1 


2 

1 
1 








40 under 50 








50 under 60 


1 








60 under 70 








70 under 80 


3 
5 
5 
36 
9 
4 
4 
1 










80 under 90 










90 under 100 


1 

28 

40 

36 

21 

11 

6 

1 

4 

7 








100 under 150 








150 under 200 








200 under 250 








250 under 300 


1 

19 
13 
9 
3 






300 under 400 _ 






400 under 500 


2 

15 
10 
6 




500 under 750 


1 


1 




750 under 1,000 

1,000 and over 


1 
1 


1 




2 


1 


24 






Total 


222 


125 


174 


74 


161 


45 


33 


24 



NET LONG-TERM CAPITAL LOSS? 8 
[Net income classes and net long-term capital loss classes in thousands of dollars] 





Net long-term capital loss classes 


Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 
2 




14,230 

10, 867 

8,284 

6,777 

5,308 

16, 683 

8,442 

4,782 

2,955 

3,424 

1,808 

1,012 

641 

390 

307 

210 

445 

130 

85 

34 

42 

8 

28 

6 

4 


2,155 

1,495 

1,064 

718 

599 

1,693 

695 

358 

194 

261 

111 

56 

46 

17 

12 

12 

22 

9 

2 

4 

3 


1,610 

1,117 

822 

647 

420 

1,210 

512 

277 

144 

156 

78 

55 

29 

24 

11 

7 

14 

6 

3 

2 

4 


1,228 

965 

622 

506 

387 

1,111 

438 

231 

129 

125 

54 

27 

19 

20 

13 

5 

20 

6 

3 


1,012 

731 

518 

423 

294 

885 

• 397 

194 

92 

116 

52 

23 

17 

10 

11 

4 

12 

2 


854 

642 

453 

365 

272 

734 

344 

199 

80 

100 

50 

29 

9 

6 

6 

4 

16 

1 


2,642 

1,916 

1,461 

1,191 

961 

2,834 

1,269 

662 

405 

404 

217 

111 

67 

33 

25 

23 

32 

6 

5 

4 

5 

2 

1 


2,172 




1,800 




1,425 


8 under 9 


1,186 


9 under 10 


921 




2, 894 


15 under 20 


1,458 


20 under 25 


741 


25 under 30 


506 


30 under 40 


557 


40 under 50 . 


285 


50 under 60 


138 


60 under 70 


82 


70 under 80 


58 


80 under 90 


29 


90 under 100 


25 


100 under 150 

150 under 200 


50 
19 
9 


250 under 300 




1 
1 


3 




1 




3 






1 




3 
2 

1 


1 








2 


750 under 1,000 - 




































Total 


86,902 


9,532 


7,149 


5,910 


4.793 


4,166 


14, 276 


14,364 









For footnotes, see p. 47 



STATISTICS OF INCOME 



47 



Individual returns i with net income of $5,000 and over (excluding fiduciary returns), 
1938, by net income classes and by size of selected source of income and loss: 
number of returns — Continued 

NET LONG-TERM CAPITAL LOSS » «— Continued 
[Net income classes and net long-term capital loss classes in thousands of dollars] 





Net long-term capital loss classes — Continued 


Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 




963 

808 

599 

557 

440 

1,552 

872 

477 

323 

315 

181 

90 

48 

38 

35 

29 

37 

8 

4 


524 

411 

340 

330 

275 

892 

541 

354 

215 

237 

117 

66 

58 

24 

11 

17 

26 

7 

4 

1 

2 


319 

243 

268 

207 

168 

626 

391 

227 

132 

173 

89 

48 

36 

16 

23 

10 

23 

7 

5 

2 


501 

484 

472 

427 

365 

1,409 

916 

606 

375 

492 

267 

171 

113 

56 

55 

28 

69 

18 

14 

1 

6 

2 

2 

1 


137 

140 

127 

126 

111 

415 

268 

210 

132 

198 

127 

69 

43 

30 

28 

12 

38 

10 

6 

2 

3 

1 


51 

59 

49 

48 

37 

192 

137 

102 

87 

106 

76 

48 

24 

15 

17 

10 

19 

8 

8 

3 

2 

1 

1 


17 

18 

26 

14 

20 

90 

64 

44 

49 

71 

36 

19 

11 

9 

4 

8 

12 

6 

3 

3 


12 


6 under 7 - 


13 


7 under 8 


15 




11 


9 under 10. 


8 




48 


15 under 20 


39 


20 under 25 


33 


25 under 30 


28 


30 under 40 


41 


40 under 50 .. 


16 


50 under 60 


19 


60 under 70 


6 


70 under 80 


8 


80 under 90. 


10 


90 under 100. 


3 


100 under 150 

150 under 200.. 

200 under 250 

250 under 300 


13 
2 
3 
1 


300 under 400 




1 


400 under 500 .. 






1 




500 under 750 . . 


3 






1 


750 under 1,000 




1 


1 




1 














Total 


7,379 


4,452 


3,014 


6,850 


2,234 


1,100 


525 


332 







Net long-term capital loss classes- 


-Continued 




Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 




18 

11 

12 

9 

17 

45 

48 

29 

34 

38 

27 

23 

14 

10 

6 

3 

18 

7 

3 


3 
3 
9 
6 
5 


8 
11 
2 
3 
S 


3 


1 




























8 under 9 


2 
2 
1 
3 

4 
4 
4 
6 
3 
5 
1 
1 
1 
1 


1 
1 
4 
4 


















23 25 








15 under 20 


29 

23 
13 
17 
6 
7 
5 
7 
3 
4 
7 
4 
3 
3 
3 


17 

11 

12 

9 

10 

8 

3 

7 

4 

4 

12 

3 

6 

3 

2 








20 under 25 








25 under 30 


1 
4 
3 
1 
4 
1 
3 
1 
4 
1 
3 








30 under 40 








40 under 50 








50 under 60 




1 




60 under 70 


2 




70 under 80 






80 under 90 








90 under 100 








100 under 150 








150 under 200 








200 under 250 




1 
1 






250 under 300 








300 under 400 


2 


2 


2 






400 under 500 








500 under 750 


2 


2 


1 


5 


3 


1 














1 




1 






1 


















Total 


377 


185 


167 


48 


42 


6 


1 





















• Unlike text table on pp. 17-26, Statistics of Income for 1937, Part 1, this table excludes the following 
returns with net income taxable to the fiduciary of $5,000 and over: taxable returns, Form 1041, and taxable 
returns for estates and trusts incorrectly filed on Form 1040 instead of Form 1041. 

2 See footnote 4, p. 25. 

3 See footnote 7, p. 25. 

4 The information in this section of the table is the number of businesses rather than the number of returns 
filed by sole proprietors. If two or more businesses in different industrial groups are reported on one return, 
each business is counted separately. Consequently the number of businesses exceeds the number of returns 
showing business profit or loss. 

5 Consists of net short-term capital gain on capital assets held 18 months or less. 

6 Consists of net long-term capital gain on capital assets held over 18 months. Includes net capital gain of 
$346,367 on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) of the 
Revenue Act of 1936, reported on 1 19 fiscal year returns with year ended in period July through November 1938. 

7 Consists of net long-term capital loss on capital assets held over 18 months. Includes net capital loss of 
$139,727 on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) of 
the Revenue Act of 1936, reported on 121 fiscal vear returns with year ended in period July through Novem- 
ber 1938. 8 See footnote 9, p 26. 



48 STATISTICS OF INCOME 

PROFIT AND LOSS FROM BUSINESS, BY INDUSTRIAL GROUPS, RETURNS FORM 1040 
WITH NET INCOME OF $5,000 AND OVER 

The profit and loss from business (sole proprietorship) reported on 
returns, Form 1040, with net income of $5,000 and over, are classified 
in basic table 8, pages 139-141, according to nature of business. 

For businesses with receipts and deductions in Schedule D there 
are shown, by industrial groups, the number with net profit or with 
net loss, total receipts, and amount of net profit or net loss. For 
businesses classified in the industrial division "Agriculture, forestry 
and fishery" these data are tabulated from Form 1040F (schedule 
of farm income and expenses), if submitted with the individual 
income tax return. There is also presented an historical summary 
of these data for the years 1933 through 1937. 

For all businesses, with and without receipts and deductions in 
the business schedule, the number with net profit and amount of net 
profit are shown for 1929 through 1938 and the number with net loss 
and amount of net loss are shown for 1933 through 1938 at the end 
of basic table 8. 

Sole proprietors are classified industrially according to their pre- 
dominant business. The number of industrial groups has been in- 
creased over those shown in the Statistics of Income for 1937, Part 1, 
and there have been certain changes in the definitions of the contents 
of the groups. A comparison of the industrial groups for 1938 
with those for 1937 is shown on pages 205-211. In so far as applicable 
to sole proprietors, the definitions of the industrial groups for 1938 
are, in general, similar to those of the major industrial groups used 
for corporations, which will be published at a later date in the Statis- 
tics of Income for 1938, Part 2. However, in basic table 8 a more 
detailed classification is used for the sole proprietors engaged in service 
and a less detailed classification is used for sole proprietors engaged 
in mining and quarrying than will be shown for corporations in the 
Statistics of Income for 1938, Part 2. 

The number of businesses with net profit or with net loss in basic 
table 8 and in the tables in this report relating to sources of income 
and deductions exceeds the number of returns showing a business 
profit or loss for the reason that when two or more businesses in 
different industrial groups are reported on one return, each business 
is counted separately. 

"Net profit" in basic table 8 and "Business profit" in the tables in 
this report showing sources of income and deductions represent items 
of profit reported on the returns, as shown by total receipts from 
business or profession, less cost of goods sold and other business de- 
ductions, such as salaries and wages (except compensation of the 
proprietor); interest on business indebtedness; taxes on business and 
business property; losses from fire, storm, or theft not compensated 
for by insurance or otherwise; bad debts arising from sales; deprecia- 
tion, obsolescence, and depletion; rents, repairs, and other expenses 
as provided in Schedule D of the individual returns, Form 1040. 
"Net loss" in basic table 8 and "Business loss" in the table showing 
source of income and deductions represent items of loss from business 
which occur when deductions exceed total receipts. In using these 
amounts of "Net profit or loss" and "Business profit or loss" it must 
be remembered that the compensation of the proprietor is not allowed 
as a deduction. 



STATISTICS OF INCOME 49 

The data in basic table 8 exclude (1) income from partnerships 
reported as item 6 on face of return, Form 1040 (see page 290), 
(2) salaries, wages, fees, commissions, etc., reported in item 1 on face 
of return, and (3) business profits and losses reported on individual 
returns with net income under $5,000. 

NUMBER OF RETURNS BY COUNTIES, CITIES, AND TOWNS 

The statistics showing the number of individual income tax returns 
for 1938 by counties, cities, and towns having a population of 1,000 
and over have been issued in a separate mimeographed bulletin en- 
titled "Individual Income Tax Returns for 1938 — Number of Returns 
by States, by Counties, and by Cities and Towns." Copies may be 
secured from the Bureau of Internal Revenue, Washington, D. C, 
upon request. Information concerning net income and tax liability 
on individual income tax returns is not tabulated for smaller civil 
divisions than States and Territories. 

FIDUCIARY INCOME TAX RETURNS 

NUMBER OF RETURNS, NET INCOME TAXABLE TO THE FIDUCIARY, AND TAX 

The number of returns, net income taxable to the fiduciary, deficit, 
tax, average total tax, and effective tax rate are shown in basic 
table 10, pages 171-179, for fiduciary returns with net income and with 
no net income taxable to the fiduciary. The data for fiduciary returns 
with net income are classified by size of net income and aggregate data 
are presented for fiduciary returns with no net income. The returns 
with no alternative tax (Part II, pages 173-174) are shown separately 
from those with alternative tax (Part III, pages 175-179) and the re- 
turns with alternative tax are further classified into those with net 
long-term capital gain and with net long-term capital loss. 

Basic table 10, which is published for the first time, contains infor- 
mation for fiduciary returns similar to that for individual returns in 
basic table 2-A, pages 92-101. Attention is called to the fact that 
data for the 52,881 taxable fiduciary returns shown in basic table 10 
are included in the text on pages 10-11 and in basic table 2, pages 
82-91, where composite data for individual returns and taxable 
fiduciary returns with net income are classified by size of net income. 

The total number of fiduciary returns for estates and trusts is 
200,826, of which 76,379 are returns with net income taxable to the 
fiduciary and 124,447 are returns with no net income. Of the 76,379 
returns showing a net income of $242,168,363, there are 52,881 taxable 
returns and 23,498 nontaxable returns. The total tax liability is 
$39,097,977, of which $24,049,775 is the normal tax and surtax reported 
on taxable returns with no alternative tax, and $15,048,202 is the alter- 
native tax reported on 191 returns with alternative tax. The average 
tax liability on all fiduciary returns with net income is $512 and on 
taxable fiduciary returns is $739. The effective tax rates are 16.1 
percent for all fiduciary returns with net income and 16.5 percent for 
taxable fiduciary returns. 

As compared with 1937 data, the total number of fiduciary returns 
increased 17,853, or 9.8 percent, the number of returns with net income 



50 STATISTICS OF INCOME 

taxable to the fiduciary increased 1,095, or 1.5 percent, and the number 
of returns with no net income increased 16,758, or 15.6 percent. The 
number of taxable returns with net income increased 8,350, or 18.8 
percent, and the number of nontaxable returns with net income de- 
creased 7,255, or 23.6 percent. For returns with net income the 
aggregate net income taxable to the fiduciary decreased $64,104,156, 
or 20.9 percent, the net income on taxable returns decreased 
$58,545,581, or 19.8 percent, and the net income on nontaxable returns 
decreased $5,558,575, or 49.3 percent. The total tax liability de- 
creased $9,307,573, or 19.2 percent. The effective tax rates for 1937 
were 15.8 percent for all fiduciary returns with net income and 16.4 
percent for taxable fiduciary returns. 

RETURNS TABULATED AND DEFINITIONS OF CERTAIN ITEMS 

Data are tabulated from all fiduciary returns, From 1041, filed for 
the year covered by this report (see page 2). For both 1938 and 
1937 the tabulations for fiduciary returns include returns for income 
for estates and trusts incorrectly filed on Form 1040 instead of Form 
1041. However, for the 1938 returns for estates and trusts incorrectly 
filed on Form 1040 instead of Form 1041, an adjustment for statistical 
purposes was made for all the returns with no net income and for the 
majority of returns with net income whereby the "Amount distributa- 
ble to beneficiaries," if any, was removed from "Other deductions" 
and "Total deductions" and the income prior to distribution to bene- 
ficiaries ("Balance income") was computed in order that data for 
estates and trusts on these incorrectly filed returns might be tabulated 
with the data reported on fiduciary returns, Form 1041. For the 
small number of returns with net income taxable to the fiduciary for 
which this adjustment was not made "Other deductions" and "Total 
deductions" include "Amount distributable to beneficiaries" (if any). 

For the fiduciary returns tabulated in this report, the changes in the 
provisions of the Revenue Act of 1938 affecting fiduciary returns, the 
definitions of net income taxable to the fiduciary, no net income or 
deficit, net income subject to surtax, net income subject to normal tax, 
ordinary net income, and tax liability, are given in the section of this 
report entitled "Individual Income Tax Returns and Fiduciary Income 
Tax Returns," pages 3-5. There is no alternative tax liability shown 
on any of the fiduciary returns with no net income. 

Attention is called to a change in one of the requirements for filing 
a fiduciary return for a trust, provided by section 142 of the Revenue 
Act of 1938. A return is required to be filed for every trust, if the 
net income for the taxable year is $100 or over, in lieu of the require- 
ment that the net income be $1,000 or over which, with some excep- 
tions, was effective for trusts for 1937 (see General Instruction A, 
Form 1041, facsimile on page 302). 

"Balance income" before distribution to the beneficiaries (item 15 
on page 1 of return, Form 1041, facsimile on page 298) means the 
amount of gross income, as defined in the revenue acts effective for 
the year for which the returns are filed, in excess of the deductions 
claimed by the taxpayer under the provisions of the respective acts. 
"Balance deficit" means excess of deductions over gross income. De- 
ductions do not include the credit of $1,000 for personal exemption 
allowed an estate or the credit of $100, in lieu of the credit for personal 



STATISTICS OF INCOME 51 

exemption, allowed a trust. Balance income and balance deficit for 
1938 include net short-term gain and net long-term gain or loss from 
sale or exchange of capital assets to the extent provided under the 
Revenue Act of 1938, as well as net capital gain or loss reported on 
the small number of fiscal year returns filed under the provisions of 
the Revenue Act of 1936. 

INCOME CLASSES 

In basic tables 10 and 1 1 , fiduciary returns with net income taxable to 
the fiduciary are classified by size of net income taxable to the fiduciary 
(item 17 on page 1 of return, Form 1041, facsimile on page 298). Net 
income taxable to the fiduciary means gross income in excess of the 
sum of (1) deductions claimed by the taxpayer and (2) amount dis- 
tributable to beneficiaries (see page 4). A classification of fiduciary 
returns with no net income taxable to the fiduciary by the size of this 
deficit is not shown in this report. 

In basic table 12 fiduciary returns with net income taxable to the 
fiduciary are classified by size of balance income. In basic table 13 
fiduciary returns with no net income taxable to the fiduciary are 
classified by size of balance deficit and of balance income (for defini- 
tions of balance income and balance deficit, see pages 50-51). 

SOURCES OF INCOME AND DEDUCTIONS 

In basic table 11, pages 180-186, sources of income and deductions, 
balance income, amount distributable to beneficiaries, and net income 
taxable to the fiduciary reported on 76,379 fiduciary returns with net 
income taxable to the fiduciary are classified by size of net income 
taxable to the fiduciary, and these data reported on 124,447 fiduciary 
returns with no net income are presented in aggregate. Basic table 
11, which is published for the first time, contains information for 
fiduciary returns similar to that for individual returns in basic table 
7-A, pages 131-138. Attention is called to the fact that data for the 
52,881 taxable fiduciary returns shown in basic table 11 are included 
in basic table 7, pages 123-130, where composite data for individual 
returns and taxable fiduciary returns with net income are classified 
by size of net income. 

In basic table 12, sources of income and deductions, balance income, 
amount distributable to beneficiaries, and net income taxable to the 
fiduciary reported on the 76,379 fiduciary returns with net income tax- 
able to the fiduciary are classified by balance income. Basic table 12 
contains, in general, the same items and classifications as those for 
1937 in basic table 12, Statistics of Income for 1937, Part 1, pages 
173-175. The 1937 classification "Net income for estates and trusts 
filed on Form 1040" is not used in basic table 12 because the majority 
of the 1938 returns for estates and trusts incorrectly filed on Form 
1040 were adjusted and tabulated as returns, Form 1041 (for method 
of adjustment, see page 50). The small number of 1938 returns 
for estates and trusts incorrectly filed on Form 1040 which were not 
adjusted is classified in basic table 12 by size of net income taxable 
to the fiduciary because on these returns the "Amount distributable 
to beneficiaries" is negligible. 

In basic table 13, pages 190-193, sources of income and deductions, 
balance income or deficit, amount distributable to beneficiaries, and 
net deficit reported on the 124,447 fiduciary returns with no net in- 



52 STATISTICS OF INCOME 

come taxable to the fiduciary are classified by size of balance deficit 
and balance income. The following groups of returns with no net 
income taxable to the fiduciary are tabulated for basic table 13: 
15,249 returns with balance deficit of $66,539,872 before distribution 
to beneficiaries, classified by size of balance deficit (total deductions 
exceed total income, items 14 and 10, respectively, on page 1, Form 
1041, facsimile on page 298); 109,009 returns with balance income 
of $550,272,564 before distribution to beneficiaries, classified by size 
of balance income (balance income is equal to amount distributable 
to beneficiaries, items 15 and 16, respectively, on page 1, Form 1041, 
facsimile on page 298) ; and 189 returns with zero balance income 
before distribution to beneficiaries (total income is equal to total 
deductions, items 10 and 14, respectively, on page 1, Form 1041, 
facsimile on page 298). Basic table 13 of this report contains items 
and classifications which are similar to those for 1937 in basic tablel3, 
Statistics of Income for 1937, Part 1, pages 176-178. 

Income from the various sources represents the net amount by 
which the gross receipts exceed the deductions, as reported in the 
schedules on the return (see Form 1041, facsimile on pages 298-305) 
and in aggregate represents the sum of the net amounts of income 
from each source. Net losses reported under "Income" items on the 
face of the returns are transferred in tabulation to deductions, which 
also include amounts reported on the returns under "Deductions." 

For definitions of certain sources of income and deductions, other 
than "Salaries, wages, commissions," etc., and "Contributions" which 
are not applicable to fiduciary returns, see section of this report 
under "Individual Income Tax Returns" entitled "Sources of Income 
and Deductions," pages 24-28, and footnotes to basic tables 11-13. 
The net short-term capital gain and net long-term capital gain and 
loss reported on fiduciary returns, Form 1041, for 1938, are computed 
according to the provisions which apply to individual returns (see 
section of the text entitled "Capital Gains and Losses," pages 23-24). 

AMOUNT DISTRIBUTABLE TO BENEFICIARIES 

On fiduciary returns, Form 1041, for 1938 and 1937, the income 
distributable to beneficiaries consists of the amount paid during the 
taxable year to or permanently set aside for beneficiaries and for 
charitable contributions (as well as any part of the income of a trust 
which is taxable to the grantor). Amount distributable to bene- 
ficiaries is reported as item 16 on page 1 of Form 1041 (facsimile on 
page 298) in accordance with the following instructions: 

Enter as item 16 the total amount distributable to beneficiaries as reflected 
in columns 2 and 9, Schedule A, and line (h), Schedule B. Care should be taken 
in filling in Schedule A so as to include as beneficiaries persons for whose benefit 
amounts of charitable contributions which pursuant to the terms of the will or 
deed creating the trust are during the taxable year paid or permanently set 
aside as provided in section 162(a). If any part of the income of the trust is 
taxable to the grantor, such grantor's share should be designated and included 
among the beneficiaries' shares in Schedule A. 

Each beneficiary who files an income tax return must report his 
share of the amount distributable to beneficiaries on his income 
tax return. Consequently, in the Statistics of Income for 1937 and 



STATISTICS OF INCOME 53 

1938, Part 1, showing data for all fiduciary returns, Form 1041, 
and for all individual returns. Forms 1040, 1040A, and 1040B, a 
large portion of the amount distributable to beneficiaries tabulated 
for fiduciary returns is also tabulated as sources of income for indi- 
vidual returns filed by beneficiaries and for fiduciary returns filed for 
estates and trusts which are recipients of an amount distributable. 

For 1938, duplication of data may occur as follows: On the indi- 
vidual return of each beneficiary, his share of the distribution from 
an estate or trust, except interest on partially tax-exempt Govern- 
ment obligations, and net gain or loss from the sale or exchange of 
capital assets received from "Common trust funds," is reported as 
"Income from fiduciaries" (item 7 on page 1, Form 1040, facsimile 
•on page 290). The beneficiary's share of interest on partially 
tax-exempt Government obligations owned by the estate or trust is 
included in "Taxable interest on Government obligations" (item 5 
■on page 1, Form 1040, facsimile on page 290) and the net gain from 
the sale or exchange of capital assets received from "Common trust 
funds" is included in "Net short-term gain from sale or exchange of 
capital assets" or in "Net long-term gain from sale or exchange of 
capital assets" (items 10 (a) and (b) on page 1, Form 1040, facsimile 
on page 290). Consequently, the above-mentioned specific sources 
of income, "Total income" and "Net income," on the individual 
returns of the beneficiaries may include all (if each beneficiary files 
an individual income tax return) or a portion (if all beneficiaries do 
not file individual returns) of the fiduciary income distributable to 
beneficiaries which is reported on the fiduciary return of an estate or 
trust. In a similar manner, whenever the recipient is an estate or 
trust, the items "Income from fiduciaries," "Taxable interest on 
Government obligations," and "Net short-term gain from sale or 
exchange of capital assets" or "Net long-term gain from sale or 
exchange of capital assets," "Total income," and "Net income," on 
the fiduciary return for this recipient estate or trust may include 
all or a portion of the amount distributable to beneficiaries which is 
reported on another fiduciary return for an estate or trust. 

For 1937 the duplication of data is similar to that for 1938, described 
above, except that on the return of the beneficiary the net gain from 
the sale or exchange of capital assets from "Common trust funds" is 
included in "Income from fiduciaries" instead of being treated as a 
net gain from a sale of capital assets. 

Attention is called to the fact that, for 1938 and 1937, the total of 
the "Amount distributable to beneficiaries," tabulated for all fiduciary 
returns, Form 1041, is not entirely duplicated in certain sources of 
income, "Total income," and "Net income" reported on the income 
tax returns of the beneficiaries. The portion which is unaccounted for 
may result from (1) the use of the sample method for individual 
returns with net income under $5,000 (for a description of the sample, 
see pagesl4-15), (2) part or all of the distribution being made to bene- 
ficiaries who did not meet the requirements for filing an income tax 
return or who were nonresident aliens not engaged in trade or business 
within the United States, or (3) distribution to charitable organiza- 
tions for which returns are not included in the Statistics of Income, 
Part 1. 



54 STATISTICS OF INCOME 

Prior to 1937, fiduciary returns, Form 1041, were information 
returns which were not tabulated in Statistics of Income. In general, 
the individual return, Form 1040 or 1040A, was used by the fiduciary 
for the income from an estate or trust if (1) there was a tax liability 
of the fiduciary (net income after distribution to beneficiaries in 
excess of the $1,000 personal exemption), (2) the gross income was 
$5,000 or over, or (3) any beneficiary was a nonresident alien. Data 
for all Forms 1040 and 1040 A filed by fiduciaries for the income from 
an estate or trust were tabulated in the Statistics of Income, Part 1, 
with data for other returns Form 1040 and 1040A. 

On the returns, Form 1040 and 1040A, for 1936 and prior years, 
filed by fiduciaries for the income from an estate or trust the two follow- 
ing methods of reporting data were used: either (1) the only income 
shown was the residual income taxable to the fiduciary, i. e., the 
income of the estate or tmst after deducting the amount distributable 
to beneficiaries, and tax liability of the fiduciary, or (2) all sources of 
income and deductions relating to the annual income of the estate or 
trust with the amount distributable to beneficiaries included in "Other 
deductions," net income taxable to the fiduciary, and tax liability of 
the fiduciary. Only on the returns using method (2) was there a 
duplication of the amount distributable to beneficiaries (reported on 
the returns, Forms 1040 and 1040A, for estates and trusts) in certain 
sources of income, "Total income" and "Net income" reported on the 
income tax return of each beneficiary. The duplication of the amount 
distributable to beneficiaries for 1936 and prior years is less than that 
for 1937 and 1938 because, in these latter years, returns, Form 1041 
(which were tabulated in the Statistics of Income, Part 1) show all 
sources of income and deductions relating to the annual income of the 
estate or trust and the amount distributable to beneficiaries. 

For 1936 this duplication occured as follows: On the individual 
return Form 1040, 1040A, or 1040B for each beneficiary, the amount 
of distribution from the estate or trust, except interest on partially 
tax-exempt Government obligations, was reported as "Income from 
fiduciaries," and the beneficiary's share of interest on partially tax- 
exempt Government obligations owned by the estate or trust was 
included in "Taxable interest on Government obligations." For years 
prior to 1936, the duplication of data was similar to that for 1936, 
described above, except that on the income tax return of the bene- 
ficiary dividends received on stock of domestic corporations (subject to 
taxation under Title I of the effective revenue acts) were included in 
"Dividends" instead of in "Income from fiduciaries." 

It must be borne in mind that, for all years, there is no duplication 
of data when a comparison is made either of (1) net income taxable to 
the fiduciary and net income of the beneficiary or (2) tax liability of the 
fiduciary and tax liability of the beneficiary. The net income of the 
recipient (whether an individual, estate, or trust) includes his share 
of the income of the fiduciary distributable to beneficiaries but the 
net income taxable to the fiduciary on the fiduciary return for the 
estate or trust making the distributions excludes the "Amount dis- 
tributable to beneficiaries." The taxes on the return of the benficiary 
and the fiduciary are based on these amounts of net income. 



STATISTICS OF INCOME 55 

WHOLLY AND PARTIALLY TAX-EXEMPT GOVERNMENT OBLIGATIONS, 
AMOUNT OWNED AND INTEREST RECEIVED— INDIVIDUAL AND 
FIDUCIARY INCOME TAX RETURNS 

Wholly tax-exempt obligations consist of securities the interest on 
which is wholly exempt from the normal tax and surtax of the Federal 
Government. Partially tax-exempt obligations comprise securities 
the interest on which is exempt from the normal tax of the Federal 
Government and certain issues on which the interest on the principal 
amount up to $5,000 is also exempt from surtax. For the calendar 
year 1938, the wholly tax-exempt obligations required to be reported 
on the returns consist of (1) obligations of the Federal Government: 
bonds issued on or before September 1, 1917, Treasury bills, Treasury 
certificates of indebtedness, Treasury notes, securities issued under the 
Federal Farm Loan Act, or such Act as amended, (2) obligations of a 
State, Territory, or political subdivision thereof, or the District of 
Columbia, and (3) obligations of United States possessions. Partially 
tax-exempt obligations are United States savings bonds, Treasury 
bonds,and obligations of instrumentalities of the United States other 
than obligations issued under Federal Farm Loan Act, or such Act 
as amended. 

Basic table 14, for individual returns with net income of $5,000 and 
over, shows the amounts reported as wholly and partially tax-exempt 
obligations owned as of the end of the year, and the total wholly and 
partially tax-exempt interest received or accrued during the year, 
segregated by nature of obligations and by net income classes. Unlike 
basic table 14 in Statistics of Income for 1937, Part 1 (page 181-182), 
there are excluded from basic table 14 in this report, taxable fiduciary 
returns, Form 1041, and taxable returns for estates and trusts incor- 
rectly filed on Form 1040 instead of Form 1041 with net income of 
$5,000 and over taxable to the fiduciary. In basic table 16, pages 
201-203, there is given information for these excluded returns with net 
income taxable to the fiduciary of $5,000 and over, classified by size 
of net income taxable to the fiduciary (see note 1, Table 16). 

Basic tables 15 and 16, for taxable and nontaxable fiduciary returns 
with net income and with balance income of $5,000 and over before 
distribution to beneficiaries, show the amount of wholly and partially 
tax-exempt Government obligations owned at the end of the year, and 
the wholly and partially tax-exempt interest received or accrued during 
the year, segregated by nature of obligation. In basic table 15 the 
data are classified by size of balance income and in basic table 16 by 
size of net income taxable to the fiduciary. The definitions of balance 
income and net income taxable to the fiduciary are given on pages 
50-51 of the section of this report entitled "Fiduciary Income Tax 
Returns." 

The data in basic table 15 are similar to those for 1937 in basic 
table 15, pages 183-184, Statistics of Income for 1937, Part 1. It was 
not necessary to show in basic table 15 of this report the classification 
"Taxable net income of $5,000 and over for estates and trusts filed on 
Form 1040," which was used in basic table 15 in Statistics of Income 
for 1937, Part 1, for the reason that adjustments were made for the 



56 STATISTICS OF INCOME 

majority of returns for estates and trusts for 1938 incorrectly filed on 
Form 1040, and balance income was computed (see footnote 1, basic 
table 15, page 200). The small number of 1938 returns for estates 
and trusts incorrectly filed on Form 1040 which were not adjusted is 
classified in basic table 15 by size of net income taxable to the fiduciary 
since the "Amount distributable to beneficiaries" on these returns is 
negligible. 

In basic table 16 the data for taxable and nontaxable fiduciary 
returns with net income and with balance income of $5,000 and over,, 
classified by size of net income, are shown separately for the first time. 
For 1937, the information for taxable fiduciary returns with net income 
of $5,000 and over was tabulated with individual returns with net 
income of $5,000 and over in basic table 14, pages 181-182, Statistics 
of Income for 1937, Part 1. 

Basic tables 14-16 fail to present an accurate summary of either the 
bond holdings or interest received because of an indefinite amount of 
understatement and duplication in the data reported by the taxpayer, 
as explained below. 

Schedule B, Forms 1040 and 1041, from which these tables are 
prepared, is an information schedule. Bond holdings may vary 
materially during the year, therefore the amount of bonds reported 
as of the end of the year may include bonds on which no interest was 
received, and, vice versa, the interest reported may include interest 
on bonds which have been sold prior to the end of the year. Frequently 
neither the principal amount owned nor the interest received is 
reported, the interest may be reported for which no corresponding 
principal amount is shown, or the principal amount may be reported 
for which no corresponding interest is shown. Moreover, each 
member of a partnership or each beneficiary of an estate, trust, or 
"common trust fund" is instructed to include in Schedule B his pro- 
portionate share of wholly and partially tax-exempt Government 
interest distributable by these entities and the corresponding amount 
of Government obligations owned. If these instructions are followed, 
the partner's or beneficiary's share of data reported in Schedule A on 
Form 1065 and in Schedule B on Form 1041 (facsimiles on pages 307 
and 299, respectively), are also reported in Schedule B on the partner's 
or beneficiary's return. However, in many cases, these instructions 
are not followed, with the result that the proportionate shares are 
not accurately reported in Schedule B on the returns, Form 1040, 
filed by the partners and beneficiaries. 

PARTNERSHIP RETURNS OF INCOME 

Partnership returns of income, except for the war excess-profits tax 
of 1917, are not subject to direct assessments of Federal income tax. 
However, every domestic partnership and every foreign partnership 
doing business in the United States or having an office or place of busi- 
ness therein is required to file a return of income on Form 1065 (fac- 
simile on pages 306-3 13) , "The term 'partnership' includes a syndicate, 
group, pool, joint venture, or other unincorporated organization, 
through or by means of which any business, financial operation, or 
venture is carried on, and which is not, within the meaning of this Act, 



STATISTICS OF INCOME 



57 



a trust or estate or a corporation * * *." (Section 901(a)(3), 
Revenue Act of 1938.) The net income of the partnership, whether 
distributed or not, or the net loss, is reported on the individual in- 
come tax return of the co-partners according to their proportionate 
share. 

The number of partnership returns filed, as reported by the collectors 
of internal revenue, for 1917 through 1938 is shown below. The 
number represents for each income year all returns, Form 1065, 
received in the succeeding calendar year. Consequently, each num- 
ber shown below consists of delinquent returns, calendar year returns 
for the preceding income year, and all fiscal and part year returns 
filed during the succeeding calendar year regardless of the month in 
which the income year ended. 



Number of 

Income year: returns 

1917 31,701 

1918 100,728 

1919 175,898 

1920 240,767 

1921 259,359 

1922 287,959 

1923 304,996 

1924 321,158 

1925 309,414 

1926 295,425 

1927 282,841 



Nu mber of 

Income year: returns 

1928 272,127 

1929 263,519 

1930 244,670 

1931 230,407 

1932 216,712 

1933 214,881 

1934 221,740 

1935 222,293 

1936 237,367 

1937 261,470 

1938 273,361 



HISTORICAL SUMMARIES— INDIVIDUAL INCOME TAX RETURNS WITH 
NET INCOME, INCLUDING RETURNS FOR ESTATES AND TRUSTS, 
1913-1938, AND INDIVIDUAL RETURNS WITH NO NET INCOME. 
1928-1938 



A resume of the individual income tax returns with net income, 
including returns for estates and trusts, for each of the years since the 
inception of the present period of income taxation, showing number of 
returns, net income, and tax, by net income classes, and sources of 
income and deductions, is presented in the following tables. 

For 1913 through 1915, the number of returns, net income, and tax- 
are secured from annual reports of the Commissioner of Internal 
Revenue. The net income for each of these years is estimated from 
the number of returns filed and the average net income for each net 
income class. Information for 1916 through 1936 includes that on 
Forms 1040 and 1040A filed for individuals and for estates and trusts. 
Information for 1937 and 1938 includes that on Forms 1040 and 1040 A 
filed for individuals, taxable Forms 1041 filed for estates and trusts, 
and Forms 1040 erroneously filed for estates and trusts (except that for 
1938 there is excluded information on nontaxable Forms 1040 with 
net income, erroneously filed for estates and trusts). Available data 
for individual returns with no net income for 1928 through 1938 are 
shown in the tables for the first time. 

The number of returns, net income, and tax for individual income 
tax returns with net income, including returns for estates and trusts, 
for 1934 through 1938, by States and Territories, are tabulated in a 
section of basic table 9, pages 142-167. Similar data for 1927 through 
1933, by States and Territories, are presented in basic table 9, Sta- 
tistics of Income for 1937, Part 1, pages 144-168. 



58 



STATISTICS OF INCOME 



Individual returns with net income, including returns for estates and trusts, 1913— 
1938, and individual returns with no net income 1928-1938: number of returns, 
net income or deficit, tax before lax credits, tax credits, and lax 1 

[Money figures in thousands of dollars] 





Individual returns with net income, including returns for estates and trusts 2 


Year 


Number of returns 


Net 
income ( 


Tax before tax 
credits 


Total 


Taxable 


Non- 
taxable 


Percent of total 


Normal 
tax 






Taxa- 
ble 


Non- 
taxable 


Surtax 


1913 8 


357, 598 
357, 515 
336, 652 
437, 036 

3, 472, 890 
4,425,114 

5, 332, 760 
7, 259, 944 

6, 662, 176 

6, 787, 481 

7, 698, 321 
7, 369, 788 
4,171,051 

4, 138, 092 
4, 101, 547 
4, 070, 851 
4, 044, 327 
3, 707, 509 
3, 225, 924 
3, 877, 430 

3, 723, 558 

4, 094, 420 
4,575,012 
5,413,499 
6, 350, 148 
6, 203, 657 










3, 900, 000 

4, 000, 000 

4, 600, 000 

6, 298, 578 

13, 652, 383 

15, 924, 639 

19, 859, 491 

23, 735, 629 

19, 577, 213 

21,336,213 

'0 24, 777, 466 

25, 656, 153 

21, 894, 576 
21, 958, 506 

22, 545, 091 
25, 226, 327 
24, 800, 736 
18,118,635 

13, 604, 996 
5 11,655,909 

11,008,638 
12, 796, 802 

14, 909, 812 
19,240, 110 
21, 238, 574 
18, 897, 374 


12, 729 
16, 559 
23, 996 
51,441 
156. 897 
476, 433 
468, 105 
478, 250 
308, 059 
355,410 
" 378,388 
257, 795 
216, 360 
200. 599 
215,817 
281, 895 
162, 332 
129, 475 
82. 302 
156, 606 
164, 277 
123. 261 
152, 814 
330, 197 
334, 550 
228, 102 


15, 525 


1914 










24, 487 


1915- 










43, 948 


1916 


362, 970 

2, 707, 234 

3, 392, 863 

4, 231, 181 

5, 518, 310 
3, 589, 985 

3, 681, 249 
4,270, 121 

4, 489, 698 
2, 501, 166 
2, 470, 990 
2,440,941 
2, 523, 063 
2, 458, 049 
2, 037, 645 
1, 525, 546 
1, 936, 095 
1, 747, 740 

1, 795, 920 
2,110,890 

2, 861, 108 
3.371,443 

3, 048, 545 


74, 066 
765. 656 
1, 032, 251 
1, 101, 579 
1.741,634 
3,072,191 
3, 106, 232 
3, 428, 200 
2,.sMi, iimi 
1, 669, 885 
1. 667, 102 
1, 660, 606 
1,547,788 
1, 586, 278 
1,669,864 

1, 700. 378 
1,941,335 
1, 975, 818 

2, 298, 500 
2, 464, 122 
2, 552, 391 
2, 978, 705 
3,155, 112 


83 
78 
77 
79 
76 
54 
54 
55 
(il 
60 
60 
59 
61 
•61 
55 
47 
50 
47 
44 
46 
53 
53 
49 


17 
22 
23 
21 
24 
46 
46 
45 
39 
40 
40 
41 
39 
39 
45 
53 
50 
53 
56 
54 
47 
47 
51 


121, 946 


1917 


433, 346 


1918- 


651, 289 


1919 


801, 525 


1920... 


596, 804 


1921 

1922... 


411,327 

474, 581 


1923 

1924 


" 464,918 
437, 541 


1925 


432, 853 


1926 . . 


448, 330 


1927 


511,731 


1928 

1929 

1930 

1931 

1932 


688, 825 
582, 393 
316,816 
186, 078 
239, 232 


1933 

1934. 


244. 307 
388 139 


1935 

1936 


504, 625 
883, 820 
807, 019 
258, 209 


1937 

1938 



For footnotes, see p. 59. 



STATISTICS OF INCOME 



59 



Individual returns with net income, including returns for estates and trusts, 1918- 
1938, and individual returns with no net income 1928-1988: number of returns, 
net income or deficit, tax before tax credits, tax credits, and tax l — Continued 

[Money figures in th< usands of dollars] 





Individual returns with net income, including returns for estates 
and trusts 2 — Continued 


Individual returns 

with no net 

income 3 




Tax before tax credits— Con. 


Tax credits 


Tax s 


Number 
of re- 
turns 




Year 


Alterna- 
tive tax 6 


Tax on 
capita] 

net gain, 
12V 2 per- 
cent 


Total 


25 per- 
cent of 
tax on 
earned 
net in- 
come 7 


12i/ 2 per- 
cent on 
capital 
net loss 
from sale 
of assets 
held more 
than 2 
years 


Total 


Deficit 


1913 8 - 






28, 254 

41,040 

67, 944 

173, 387 

* 795,38] 

1. 127.722 

1, 209, 030 

1. 075. 054 

719. 387 

861,057 

"882.222 

743, 939 

700. 784 

801, 582 

1,204, 170 

1. 029, 379 

511, 713 

287,803 

101,877 

42.3.1119 

511, 100 

057. 439 

1.214.1117 

1, 141. 509 

'« 705. 833 








28, 254 

41,040 

67, 944 

173, 387 

» 795, 381 

1.127.722 

1, 269, 630 

1, 075. 054 

719, 387 

861, 057 

is 661,666 

704. 205 

i 

732, 475 
s:;o. 1139 
1, It 14. 254 
1,001,938 
476,715 
246, 127 
329,962 
374, 120 
511.400 
'157. 439 






1914 
















1915 
















1910 
















1917 
















1918 
















Hi 19 
















1920 
















1921 
















1922 




31, 066 
is 38, 916 

48, 603 
117. 57] 
112,510 
134,034 
233, 451 
284, 054 

65, 122 

L9, 123 
6,039 

10, 435 












1923 








220,555 

; 

32. 229 
28,969 
30,943 
39, 910 
27,441 
34,998 
41,676 
71.915 
50, 899 






1924 




30. 037 
24,570 

24, 647 

24.915 
34, 790 
22. 002 
24, 886 
17.491 


9,036 

4,322 
6,028 
5, 120 
5, 378 
10. 112 

■ 
71,915 
50,899 






1925 








1926 








1927 








1928 




72, 829 

i 14,867 
184,583 
206,293 

168, 449 

104, 170 
94. 009 


499, 213 


1929 




1.025, 130 


1930 




1,539.452 


1931 




878 


1932 . ... 




1. ISO. 922 


L933 




1. HI. 331 


1934 




412,859 


1935 












3 SI. 353 


1930 












1.214.017 73.272 


280. 032 


1937 












1. 141.5i .9 
" 765, 833 


83,904 

100, 233 


30S. 518 


1938 


16 279, 522 










354. 150 

















■ Changes in revenue acts affecting the comparability of statistical data from income tax returns of indi- 
viduals, including returns for estates and trusts, are summarized on pp. 270-275. Data for 1913 through 1915 
secured from annual reports of the Commissioner of Internal Revenue. 

2 For 1916 through 1930 includes Forms 1040 and 1040A filed for individuals and for estates and trusts. For 
1937 and 1938, includes Forms 1040 and 1040A filed for individuals, taxable Forms 1041 filed for estates and 
trusts, and Forms 1040 erroneously filed for estates and trusts, except that for 1938 there are excluded non- 
taxable Forms 1040 with net income, erroneously filed for estates and trusts. 

3 Data are not available prior to 192S. For 1937 and 1938 includes returns with zero net income (total 
income equals total deductions). 

4 For 1913 through 1915 net income is estimated from the number of returns filed and theaveragenet iricome 
for each net income class. On returns for estates and trusts, net income after distribution to beneficiaries. 

3 Taxes for 1913 through 1915 are receipts for fiscal year ended June 30, immediately following, as shown in 
annual report of the Commissioner of Internal Revenue, which receipts include fines, penalties, additional 
assessments, etc. Tax for 1916 and subsequent years is tax liability reported on returns. 

» The alternative tax is imposed on 1938 returns with net long-term capital gain if such alternative tax is 
less than the sum of the normal tax and surtax computed on net income including net long-term capital 
gain. The alternative tax is imposed on 1938 returns with net long-term capital loss if such alternative tax 
is greater than the sum of the normal tax and surtax com] tuted on net income after deducting net long-term 
capital loss. 

T See limit of credit, p. 278. 

! Returns for 1913 pertain to the last 10 months of that year. 

9 Includes war excess-profits taxes of $101,249,781 on individuals and $103,887,984 on partnerships. 

10 Revised. (See Statistics of Income for 1925, pp. 28-29.) 

" Revised. (See Statistics of Income for 1925, pp. 28-29.) Amounts are before 25 percent reduction pro- 
vided by sec. 1200(a), Revenue Act of 1924. 

12 Amount before 25 percent .eduction provided by sec. 1200(a), Revenue Act of 1924. 

13 The amount of the 25 percent reduction provided by sec. 1200(a1, Revenue Act of 1924. 

11 Revised. (See Statistics of Income for 1925, pp. 28-29.) Amount after deduction of 25 percent reduction 
provided by sec. 1200(a), Revenue Act of 1924. 

15 Revised. (See Statistics of Income for 1935, part 1, p. 31, footnote 0.) 

16 Includes alternative tax ol $615,251 reported on 20 individual returns with no net income (see tex 
pp. 21-22). 



20042U -41 :> 



60 



STATISTICS OF INCOME 



Individual returns with net income, including returns for estates and trusts, 1911^-1938, 
by net income classes, and aggregate for individual returns with no net income, 
1928-1938: number of returns > 



Net income classes 
(Thosands of dollars) 


1914 


1915 


1916 2 


1917 


1918 


1919 


1920 


Individual returns with 
net income, including 
returns for estates and 
trusts: 3 
























1, 640, 758 

838, 707 

560, 763 

270, 666 

112,502 

30. 391 

12,439 

3, 302 

2,347 

559 

315 

141 


1,516,938 

1, 496, 878 

932, 336 

319, 356 

116, 569 

28, 542 

9,996 

2,358 

1,514 

382 

178 

67 


1, 924, 872 

1, 569, 741 

1, 180, 488 

438, 851 

162, 485 

37, 477 

13,320 

2,983 

1,864 

425 

189 

65 


2, 671, 950 


2 under 3 








2, 569, 316 




149, 279 

127,448 

58, 603 

14, 676 

5,161 

1,189 

769 

216 

114 

60 


127, 994 

120,402 

60,284 

17,301 

6,847 

1,793 

1.326 

376 

209 

120 


157, 149 

150,553 

80, 880 

23, 734 

10, 452 

2,900 

2,437 

714 

376 

206 


1,337,116 




455, 442 


10 under 25 


171,830 


25 under 50 


38, 548 


50 under 100 

100 under 150 


12,093 
2,191 


150 under 300 

300 under 500 


1,063 
239 


500 under 1,000 

1.000 and over 


123 

33 


Total individual, 
estate, and trust 
returns with net 
income 


357,515 


336. 652 


429, 401 


3, 472, 890 


4, 425, 1 14 


5, 332, 760 


7, 259, 944 


Grand total 


357,515 


336, 652 


129, 1(11 


3, 472, 890 


4,425,114 


5, 332, 760 


7, 259, 944 



Net income classes 
(Thousands of dollars) 


1921 


1922 


1923 


1924 


1925 


1926 


1927 


Individual returns with 
net income, including 
returns for estates and 
trusts: 3 
Under 1 


401,849 

2, 440, 544 

2, 222, 031 

1,072,146 

353, 247 

132, 344 

28, 946 

8,717 

1,367 

739 

162 

63 

21 


402, 076 

2,471,181 

2, 129, 898 

1, 190, 115 

391.373 

151,329 

35, 478 

12,000 

2,171 

1,323 

309 

161 

67 


368, 502 

2, 523, 150 

2, 472, 641 

1, 719, 625 

387, 842 

170,095 

39, 832 

12,452 

2,339 

1,301 

327 

141 

74 


344, 876 

2, 413, 881 

2,112,993 

1,800,900 

437, 330 

191,216 

47, 061 

15,816 

3,065 

1,876 

457 

242 

75 


98, 178 

1,071,992 

842, 528 

1, 327, 683 

503, 652 

236, 779 

59, 721 

20, 958 

4,759 

3,223 

892 

479 

207 


119,513 

1,045,519 

837, 792 

1,240,400 

500, 549 

246, 730 

57, 487 

20. 520 

4,724 

3,267 

892 

468 

231 


126, 745 




996, 098 


2under 3 


855, 762 


3 under 5_. ... 

5 under 10 

10 under 25 


1, 209, 345 
567, 700 
252, 079 


25 under 50 


60,123 


50 under 100 

100 under 150 

150 under 300 

300 under 500. 


22, 573 
5,261 
3,873 
1,141 


500 under 1,000 

1,000 and over 


557 
290 


Total individual, 
estate, and trust 
returns with net 


6, 662, 176 


6. 787, 481 


7, 698, 321 


7, 369, 788 


4,171,051 


4, 138, 092 


4, 101, 547 






Grand total... 


6, 662, 176 


6, 787, 481 


7, 698, 321 


7, 369, 788 


4, 171, 051 


4, 138, 092 


4, 101, 547 



For footnotes, see p. 61. 



STATISTICS OF INCOME 



61 



Individual returns with net income, including returns for estates and trusts, 1914-1988, 
by net income classes, and aggregate for individual returns with no net income 
1928-1938: number of returns ' — Continued 



Net income classes 
(Thousands of dollars) 


1928 


1929 


1930 


1931 


1932 


1933 


1934 


Individual returns with 

net income, including 

returns for estates and 

trusts: 3 

Under 1 


111, 123 

918,447 

837, 781 

1,192,613 

628, 766 

270, 889 

68, 048 

27, 207 

7,049 

5, 678 

1,756 

983 

511 


126, 172 

903, 082 

810. 347 

1,172,655 

658. 039 

271, 454 

63. 689 

24, 073 

6, 376 

5, 310 

1,641 

976 

513 


150, 000 

909, 155 

767, 684 

1,070,239 

550, 977 

198, 762 

40, 845 

13, 645 

3,111 

2,071 

552 

318 

150 


185, 391 

862, 153 

675,019 

912, 630 

417, 655 

137, 754 

24, 308 

7,830 

1,634 

1,056 

268 

149 

77 


359, 688 

1,489,589 

967, 956 

703, 755 

251,014 

79, 210 

18, 480 

5,902 

995 

595 

140 

86 

20 


397, 676 

1,480,717 

914, 198 

599, 075 

229, 754 

75, 643 

18, 423 

6,021 

1,084 

695 

141 

81 

50 


320, 460 
1,608,095 


2 under 3 


980, 682 


3 under 5 


762, 536 
290,824 


10 under 25 . 

25 under 50 . 


102, 892 
20, 931 


50 under 100 

100 under 150 


6,093 
982 


150 under 300 


690 


300 under 500 


116 


500 under 1,000 

1,000 and over 


86 
33 


Total individual, 
estate and trust 
returns with net 

income _ 

Individual returns with 
no net income * 


4, 070, 851 
72, 829 


4, 044, 327 
92, 545 


3, 7(17. 509 
144, 867 


3, 225, 924 
184, 583 


3, 877, 410 
206. 293 


3, 723, 508 
168, 449 


4, 094, 387 
104, 170 


Grand total. __ 


4, 143, 680 


4, 136, 872 


3, 852, 376 


3, 410, 507 


4,083,723 3,892,007 


1. 198,590 



Net income classes 
(Thousands of dollars) 


1935 


1936 


1937 


1938 


Individual returns with net income, including returns 
for estates and trusts: 3 
Under 1 


299, 594 
1, 777, 931 
1, 123, 699 


277, 803 

2,111,789 

1,317,752 

1.029,144 

440, 886 

176, 649 

41,137 

13, 620 

2,606 

1.544 

330 

178 

61 


297, 143 

2, 524, 763 

1,571,996 

1.251,213 

471,171 

178,446 

38, 948 

12,318 

2,269 

1.358 

312 

162 

49 


389, 871 


1 under 2___ _ _ ... ... 


2, 433, 949 


2 under 3 


1,614,982 


3 under 5 __ ... 


873, 673 

339, 842 

123, 564 

26,029 

8,033 

1,395 

896 

206 

109 

41 


1,172,409 


5 under 10 ._. 


415.596 


10 under 25 


140,781 


25 under 50 


26, 336 


50 under 100 


7. 259 


100 under 150 

150 under 300 


1,326 
766 


300 under 500 

500 under 1,000 


207 
118 


1,000 and over 


57 






Total individual, estate, and trust returns with 

net income _ .. 

Individual returns with no net income 4 


4,575,012 
94, 609 


5, 413, 499 
73, 272 


6, 350, 148 
83, 904 


6. 203, 657 
100, 233 


Grand total 


4, 669, 621 


5, 486, 771 


6,434,052 


6, 303, 890 







1 Changes in revenue acts affecting the comparability of statistical data from income tax returns of indi- 
viduals, including returns for estates and trusts, are summarized on pp. 270-279. Number of returnsfor 1913 
is omitted, as they pertain only to the last 10 months of that year. For returns with net income under 
$5,000 the distribution of number of returns by net income classes is estimated on basis of sample for 1918 
through 1927 and for 1929; and partly estimated and partly tabulated for 1917, 1928, 1930, and subsequent 
years. 

2 Excludes 7,635 returns of married women making separate returns from husbands. In 1916 the net 
income on returns filed separately by husband and wife is combined and the total appears as one return. 
In all other years the returns of married women filed separately are included in their individual income 
classes independently of the husband's income. 

3 For 1914 through 1936 includes Forms 1040 and 1040A filed for individuals and for estates and trusts. 
For 1937 and 1938, includes Forms 1040 and 1040A filed for individuals, taxable Forms 1041 filed for estates 
and trusts, and Forms 1040 erroneously filed for estates and trusts, except that for 1938 there are excluded 
nontaxable Forms 1040 with net income, erroneously filed for estates and trusts. 

* Data are not available prior to 1928. For 1937 and 1938 includes returns with zero net income (total 
income equals total deductions). 



62 



STATISTICS OF INCOME 



Individual returns with net income, including returns for estates and trusts, 1916- 
1938, by net income classes, and aggregate for individual returns; with no net 
income, 1928-1938: net income or deficit 1 

[Net income classes and money figures in thousands of dollars] 



Net income classes 


1910 19)7 


1918 


1919 


1920 1921 


Individual returns with net in- 
come, including returns for 
estates and trusts: • 
Under 1.. 












213. 850 


1 under 2 ... 




2,461,137 

2, 064, 977 

2,115,865 

1,827,508 

1, 687, 166 

1, 042, 320 

846. 894 

400, 492 

474. 652 

209, 905 

214, 631 

306, 836 


2, 232, 355 

3. 626. 825 
3, 535, 219 
2, 145. 690 
1. 736. 548 

978, 043 
679, 721 
284, 107 
305. 025 
144, 545 
119,076 
137. 487 


2,829,113 

3, 807, 286 

4, 513, 264 

2, 954, 137 

2, 412, 276 

1,277,365 

896, 497 

358, 393 

371, 149 

159, 071 

128, 290 

152.650 


4,050,067 

6. 184. 543 

5, 039, 007 

3, 068. 331 

2, 547, 905 

1, 307, 785 

810, 386 

265, 512 

215. 139 

89, 314 

79, 903 

77, 078 


3, 620, 762 
5.325 931 


2 under 3 






624, 669 
1,037.248 
1, 235, 016 
822, 662 
722, 795 
357, 355 
505, 859 
271, 93S 
256. 771 
464. 264 


4 054 891 


5 under 10 . .... 


2 378 759 


10 under 25 


1, 958, 156 


25 under 50 


979, 629 
582, 230 


50 under 100 


100 under 150 


163, 521 


150 under 300 


145, 948 


300 under 500 


61,343 


500 under 1,000 


42, 780 


1,000 and over 


49,411 


Total individual, estate, 
and trust returns with 
net income . . ... 


6, 298, 578 


13, 652, 383 


15, 924, 639 


19, 859, 491 


23. 735. 629 


19,577,213 



Net income classes 



Individual returns with net 
income, including returns 
for estates and trusts: 2 
Under 1 

1 under 2 

2 under 3 

3 under 5 

5 under 10 

10 under 25 

25 under 50 

50 under 100 

100 under 150 

150 under 300 

300 under 500 

500 under 1,000 

1,000 and over 



1922 



247, 564 

3, 630, 571 
5, 153. 497 

4, 500, 558 
2, 041, 905 
2. 255, 872 
1, 208. 274 

805, 224 
260, 204 
266, 814 
116.672 
107,671 
141.387 



Total individual, estate, 
and trust returns with 
net income 



252. 513 

* 3, 693, 642 

« 6. 073, 444 

«6,469,195 

< 2, 653, 026 

i 2, 538, 079 

1,350,680 

833. 898 

280. 656 

260, 584 

124, 569 

95, 107 

152, 072 



235. 452 

3. 504. 474 

5.277.147 

6, 827, 924 

2.991.188 

2. 855, 397 

1, 599, 848 

1,066,784 

377. 045 

374, 609 

171.249 

158, 462 

155.974 



1926 



1927 



58. 306 

1,774.002 

-'.(147.9711 

5. 236, 003 

3, 463, 852 

3, 544, 898 

2, 032, 239 

1,418,948 

572,860 

655, 300 

339. 774 

327. 368 

122, 157 



21,336. 213 I i 24. 777. 466 25,656,153 .'1, MM. .".76 21.958.506 



i>7. 238 
1.747.917 

2, 042, 903 
4, 872, 789 

i, ! 953 

3, 660. 622 
1. 954. 653 
L, 389 3 19 

■ r >70. 190 
661,412 
340.214 
317. SSI 
494. 394 



72.231 
1,645,576 
2,062, 276 
i. 700,816 

3. 895, 759 
3,748,058 

2.051.771 
1. 535, 387 
636.019 
7S7, 270 
131.122 
378. 167 
600, 041 



22 I 19 



For footnotes, see p. 63. 



STATISTICS OF INCOME 63 

Individual returns with net income, including returns jor estates and trusts, 1916- 
1988, by net income classes, and aggregate for individual returns with no net 



Jifoo, uy rtti ■bnvuriiK ciussrs, uivti uyyi uymv jui irunm 
income, 1928-1938: net income or deficit 1 — Continued 



[Net income classes and money figures in thousands of dollars] 



Net income classes 


1928 


1929 


1930 


1931 


1932 


1933 


Individual returns with net 
income, including returns 
for estates and trusts: 2 
Under 1 


64, 535 

1, 526, 832 

2,030,901 

4, 648, 098 

4, 282, 520 

4, 037, 853 

2, 326, 503 

1, 857, 878 

850, 451 

1. 157. 131 

663, 900 

670, 862 

1, 108, 863 


73, 742 

1,499,908 

1, 958, 595 

4, 572, 596 

4, 481, 576 

4, 025, 233 

2, 174, 458 

1, 646. 476 

770, 536 

1,087,410 

628, 229 

669, 87S 

1, 212, 099 


86, 892 

1, 494, 526 

1,864,162 

4, 151, 967 

3, 723, 763 

2, 922, 750 

1,383,619 

919, 040 

374, 171 

419, 016 

2(17,131 

211,693 

359, 905 


106, 622 

1, 399, 430 

1,641,594 

3, 515, 716 

2, 807, 001 

2, 006, 721 

820, 648 

528, 049 

196, 598 

212. 059 
102, 186 
102, 311 

166. 060 


231. 140 

2, 145, 834 

2, 437, 251 

J 2,597,915 


264, 784 


1 under 2 _ .. 


2, 093, 292 




2, 295, 586 




2. 207. 458 




1,677,039 I 1.537.875 




1, 160, 398 

629, 639 

393, 206 

119,896 

118,008 

52, 469 

57, 874 

35, 240 


1,112,086 




630, 005 


50 under 100 


401,049 


100 under 150... 


129, 159 


150 under 300 . 


139, 215 


300 under 500 . . 


54, 570 


500 under 1,000 


56,700 


1,000 and over. ..-. 


86, 857 






Total individual, estate, 
and trust returns with 

net income. 

Individual returns with no 


25, 226, 327 
" 499, 213 


24, 800. 736 
e 1, 025, 130 


18,118.635 
6 1,539,452 


13, 604, 996 
« 1.936, 878 


s 11,655,909 
« 1, 480, 922 


11,008,638 
6 1.141,331 






Net income classes 


1934 


1935 


1936 


1937 


1938 


Individual returns with net income, in- 
cluding returns for estates and trusts: 2 
Under] 


211,113 

2, 277, 726 

2, 467, 851 

2. 839, 348 

1, 952, 891 

1,513,592 

708, 530 

405, 976 

117,744 

140,960 

43. 832 

59, 464 

57, 775 


198, 900 

2, 534, 828 
2, 831, 583 

3, 249, 107 
2, 283, 402 
1, 822, 271 

882, 309 
535, 772 
166, 379 
179,911 
77,907 
73,811 
73, 630 


187, 113 

3,011,409 

3. 325, 252 

3, 821, 708 

2, 977, 790 

2, 628, 692 

1, 400, 493 

913,518 

311,279 

307, 930 

124, 523 

122, 762 

107, 641 


202, 401 

3, 592, 283 
3, 980, 864 

4, 646, 965 
3, 170, 571 
2. 639, 518 
1,319,431 

824, 261 
272, 264 
272, 724 
117, 477 
114,399 
85, 416 


259, 833 




3, 430, 143 




4,091,500 




4, 317, 709 




2, 783, 893 


10 under 25 


2. 059, 779 


25 under 50 


886, 398 


50 under 100 


484, 768 


100 under 150 


158, 413 


150 under 300 


154, 996 


300 under 500 . 


78, 441 


500 under 1,000. 


81, 396 


1.000 and over.. . ... 


110, 103 






Total individual, estate 

returns with net incom 

Individual returns with no net 


and trust 

e_ 

income 3 ___ 


12, 796, 802 
» 412, 859 


14,909,812 
« 381, 353 


19, 240, 110 
« 286, 632 


21, 238, 574 
« 308, 518 


18, 897, 374 
« 354, 156 



i Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
individuals, including estates and trusts, are summarized on pp. 270-279. For returns with net income 
under $5,000, the amount and distribution by net income classes are estimated on basis of sample for 1918 
through 1927 and for 1929; and partly estimated and partly tabulated for 1917, 1928, 1930, and subsequent 
years. 

2 For 1916 through 1936 includes Forms 1040 and 1040A filed for individuals and for estates and trusts. 
For 1937 and 1938 includes Forms 1040 and 1040A filed for individuals, taxable Forms 1041 filed for estates 
and trusts, and Forms 1040 erroneously filed for estates and trusts, except that for 1938 there are excluded 
nontaxable Forms 1040 with net income, erroneously filed for estates and trusts. 

} Data are not available prior to 1928. 

* Revised. (See Statistics of Income for 1925, pp. 28-29.) 

t Revised. (See Statistics of Income for 1935. Part 1, p. 34, footnote 3.) 
«Deficit. 



64 



STATISTICS OF INCOME 



Individual returns with net income, including returns for estates and trusts, 1916- 
1938, by net income classes, and aggregate for individual returns with no net income, 
1938: tax ' 

[Net income classes and money figures in thousands of dollars] 



Net income . 1916 


1917 


1918 


1919 


1920 


1921 


Individual returns with net income, 
including returns for estates and 
trusts: -' 












174 






16,244 

9,097 
18, 283 
44, 066 

Ml. .i'...-, 

76. 593 
V,. lr> 
55, 766 
86,718 
50, 228 
59. 349 
109, 425 


26, ls_> 
35.115 
82. 929 
93. 058 
142. 449 
130,241 
147, 429 
95, 680 
L36, 156 
79, 165 
69. 834 
88.885 


24,696 
28, 258 

75, 915 
91,538 

164. 833 
154,946 
186. 358 
118,705 
163.095 
86. 031 

76. 228 
99. 027 


36, 860 

45, 508 
83. 496 
97, 886 
172. 259 
154. 265 
163,718 
86,588 
92.604 
47. 043 
45. 641 
49. 185 


29. 161 


2under3 




20, 712 




776 
6. 301 
11.637 
11,603 
16. 299 
12.423 
24, 007 
17.951 
20,902 
51. 487 


42,744 




68. 871 


10 under 25 


126 SS0 


25 under 50. _ 


112.910 


50 under 100 


115,712 


100 under 150 


52, 330 


150 under 300 

300 under 500 


61, 496 
31, 860 


500 under 1.000 


25. 112 


1,000 and over 


31.420 






Total individual, estate, and 
trust returns with net in- 


173, 387 


691, 193 l. 127,722 1,269,630 


1, 075. 054 


719, 387 







Net income classes 


1922 


1923 


1924 


1925 


1926 


1927 


Individual returns with net in- 
come, including returns for 
estates and trusts: 2 


247 

27, 081 

20,730 

17. 533 

70,388 

123, 576 

1 25, 697 

144,093 

71,337 

98, 810 

43,488 

■ 
49. 518 


317 
4 18, 253 
• 16,606 

' 46, 048 
4 54, 075 
< 103. 109 
103,601 
11 is. S79 
55, 719 
62, mi 
31,669 
25. 498 
35. 788 


146 
10.4:','.' 
10,207 
26, 865 
28, 828 
78,069 
109. 360 
136,636 
75.678 
92, 481 
:' 77 l 
4.', 585 
47. 207 


69 

1. 704 

3.809 

8.326 

19, 149 

74. 172 

120, 689 

147,843 

79, 172 

55, 722 
53, 674 
66,867 


56 

1,761 

4.217 

7. 245 

20.272 

72. 465 

112.7'.I7 

140,947 

77. 900 

103,997 

53, 665 

81, 893 


40 




1,234 


2 under 3 


3,970 




6,508 




20. 665 




74,226 


25 under 50 

50 under 100 


119.475 
1 56, 677. 


100 under 150 


87, 1 5 


150 under 300 

300 under 500 

500 under 1 .000 . 


123.776 
73. 750 
64. 265 


1,000 and over 


98, 657 






Total individual, estate, 
and trust returns with 


861, 057 


* 661. 666 


7O1.207. 


734, 555 


732.471 


830, 639 







Net income classes 


1928 


1929 


1930 1931 


1932 


1933 


Individual returns with net income, 
including returns for estates and 
trusts: 2 
Under 1 

1 under 2 . ._ _. _ 


60 

1.550 

4.317 

7. 475 

22. 890 

82, 758 

• 

194, 417 

116,855 

182,514 

113.250 

116, (-'! 

185, 140 


17 

553 

1,404 

2,413 

9, 551 

59, 893 

113,904 

160. 814 

99. 560 

159.221 

97. 336 

106,219 

191, 054 


37 
1,269 


24 

943 


103 
12, 254 
9, 822 
20, 895 
35.615 
50, 150 
43,546 
47. 150 
24, 46!) 
31, 912 
L8, 554 

1 '.1.016 
16.476 


97 
10, 345 


2 under 3 


3,310 


2.466 


7.710 




5.352 1 3.832 
17,448 12.407 
49.561 31,897 
72. 70s 40.096 
87,379 14,780 
is. 749 23.135 
62,463 28.793 


18,397 


5 under 10 

10 under 25 


■ 077 
54,977 


25 under 50 


52. 355 


50 under 100 


■; 191 


100 under 150__ 

150 under 300 


30.369 
10,412 


300 under 500 

500 under 1,000 


33, 053 
34,289 
61,098 


15. 411 
15,457 
26, 886 


17,010 
21,221 




27. 75!) 






Total individual, estate, and 
trust returns with net income. 


1. 164. 254 


1.001.938 


476. 717, 


246, 127 


329. 962 


374. 120 



For footnotes, see p. 65. 



STATISTICS OF INCOME 



65 



Individual returns with net income, including returns for estates and trusts, 1916- 
1938, by net income classes, and aggregate for individual returns with no net income, 
1938: tax ' — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 


1934 


1935 


1936 


1937 


1938 


Individual returns with net income, including 
returns for estates and trusts: 2 


111 

8,659 

7. 567 

18, 349 

43, 086 

83, 960 
84,907 

84. 792 
38, 166 
57, 995 
20. 854 
30. 745 
32,211 


125 
10, 058 
9,311 
20, 738 
48, 728 
103. 754 
106. 670 
112,816 
54, 132 
74, 039 

37, 245 

38, 323 
41, 499 


331 

14.010 

13, 988 

32. 232 

79. 309 

175,613 

191.339 

216, 045 

116, 156 

147, 381 

71,470 

78, 945 

77. 138 


468 

17, 262 

15,022 

38, 852 

83, 529 

175, 709 

179. 395 

194, 507 

102, 062 

131, 060 

67, 489 

74, 156 

61,457 


719 




15, 202 




13, 789 




33, 920 

71.654 






134, 102 


25 under 50 


120,594 


50 under 100 


116,989 


100 under 150 


58 224 


150under30o 


69, 744 


300 under 500 


39, 832 


500 under 1,000.. 


42, 353 




48, 035 






Total individual, estate, and trust returns 
with net income 


511,400 


657, 439 


1,214,017 


1,141,569 


765, 218 
615 














Grand total . . . . _ . 


511,400 


657, 439 


1,214.017 


1,141,569 


765, 833 



1 Changes in the revenue acts afreetine the comparability of statistical data from income tax returns of 
individuals, including estates and trusts, are summarized on pp. 270-279. For returns with net income 
under $5,000, the amount and distribution by net income classes are estimated, based on samples for years 
1918 through 1927 and for 1929; and partly estimated and partly tabulated fur 1917. 1928, 1930, and subsequent 
years. 

- For 1916 through 1936 includes Forms 1040 and 1040A filed for individuals and for estates and trusts. For 
1937 and 1938 includes Forms 1040 and 1040A filed for individuals, taxable Forms 1041 filed foi estates and 
trusts, and Forms 1040 erroneously filed for estates and trusts, except that for 193S there are excluded non- 
taxable Forms 1040 with net income, erroneously filed for estates and trusts. 

'• Alternative tax reported on 26 returns with net long-term capital loss on which the tax, computed'on net 
income before the deduction of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

* Revised. (See Statistics of Income for 1925, pp. 28-29.) 

Individual returns with net income, including returns for estates uud trusts, 1916— 
1938, by net income classes: effective tax rate (percent) 1 



Net income classes 
(thousands of dollars) 


1916 


1917 


1918 


1919 


1920 


1921 


1922 


1923 


1924 


Under 1. ... _ .. 










0.08 

.81 

.39 

1.05 

2.90 

6.48 

11.53 

19. S7 

32.00 

42.14 

51.94 

58. 70 

63. 59 


0.10 

.75 

40 

1.06 

2. 66 

5.48 

10.40 

17.89 

27. 42 

37. 03 

37. 27 

35.81 

35.02 


0.13 

.49 

.27 

.71 

2.04 

4.06 

7.67 

13.06 

19.85 

23.83 

25. 42 

26.81 

23.53 


0.00 


1 under 2 . . . 




0.00 

.44 

.86 

2. 41 

1 7S 

7.34 

10.04 

13.92 

18.27 

23. 93 

27.63 

35.65 


1. 19 
.98 

2. 35 
4.34 
S. 20 

13. 32 
21.69 
33.68 
44.64 
54.77 
58. 65 
64. 65 


0.87 

.74 

1.68 

3. 10 

6.83 

12.13 

20. 79 

33.12 

43. 94 

54.08 

59.42 

64 87 


0.91 
.74 
L.66 

3.19 
6. 76 
11.80 
20. 20 
32. 61 
43. 04 
52. 67 
57. 08 
63.81 


.29 


2 under 3 




.19 


3 under 5 


0.12 

.61 

.94 

1.41 

2.25 

3.48 

4. 75 

6.60 

8.14 

11.09 


.39 


5 under 10 ... - 


.96 


10 under 25 . . 


2. 73 




6.84 


50 under 100 


12.81 


100 under 150 


20.04 


150 under 300 . . 


24.69 


300 under 500... 


26.73 


500 under 1,000.. . 


26.87 


1,000 and over— . 


30.27 






Total individual, 

estate, and trust 
returns with net 
income.. _ .... _ 


2.75 


5.06 


7.08 


6.39 


4.53 


3.67 


4.04 


2.67 


2.74 



Net income classes 
(thousands of dollars) 


1925 


1926 


1927 


1928 


1929 


1930 


1931 


1932 


1933 


Under 1 

1 under 2 .. 


0.12 
.10 
.19 
.16 

.55 
2.09 
5.94 
10.42 
13. 87 
15.73 
10.40 
16. 39 
15.83 


0.08 

.10 

.21 

.15 

.52 

1.98 

5. 77 

10.14 

13.66 

15.72 

16.24 

16.88 

16.56 


0.06 

.07 

.19 

. 14 

.53 

1.98 

5.82 

10. 20 

13. 74 

15.72 

17. 1! 

16. 99 

16. 42 


0.09 

.10 

.21 

.16 

.53 

2.05 

5.87 

10.47 

13.74 

15. 77 

17.06 

17.35 

16.70 


0.02 
.04 

.07 
.05 
.21 
1.49 
5.24 
9.77 
12.92 
14.64 
15.49 
15.86 
15.76 


0.04 

.08 

.18 

.13 

.47 

1.70 

5.25 

9.51 

13.03 

14.91 

15.96 

16. 20 

16.98 


0.02 

.07 

. 15 

. 11 

.41 

1.59 

L89 

8.48 

11.77 

13. 58 

15.08 

15. 11 

16. 19 


0.04 

.57 

.40 

.80 

2.12 

4.32 

6.92 

11.99 

20. 41 

27. 04 

35.36 

32.86 

46.75 


0.04 
.49 


2 under 3 . 


.34 


3 under 5 


.83 


5 under 10 


2.28 


10 under 25 . 


4.94 


25 under 50 


8.31 


50 under 100. . 


14.34 


100 under 150 


23.51 


150 under 300 


29.03 


300 under 500... 


32.82 


500 under 1,000.. 
1,000 and over... 


37.43 
31.96 






Total individual, 
estate, and trust 
returns with net 
income. . . 


3.35 


3.33 


3.68 


4. 62 


4.04 


2.63 


1.81 


2.83 


3.40 



For footnotes, see p. 66. 



66 



STATISTICS OF INCOME 



Individual returns with net income, including returns for estates and trusts, 1916- 
1938, by net income classes: effective tax rate (percent) 1 — Continued 



Net income classes 
(thousands of dollars) 


1934 


1935 


1936 


1937 


1938 




0.05 

.38 

.31 

.65 

2.21 

5.55 

11.98 

20.89 

32.41 

41.14 

47.58 

51.70 

55. 75 


0.06 

.40 

.33 

.64 

2.13 

5.69 

12.09 

21.06 

32.54 

41. 15 

47.81 

51.92 

56.36 


0.18 

.47 

.42 

.84 

2.67 

6.68 

13.66 

23.65 

37.32 

47.86 

57.40 

64.31 

71.66 


0.23 

.48 

.39 

.84 

2.63 

6.66 

13.60 

23. 60 

37.49 

48. 06 

57.45 

64.82 

71.95 


0.28 




.44 


2under3 -- 


.34 




.79 




2.57 


10 under 25. 


6.51 


25 under 50 


13.60 


fiOunder 100 . 


24.13 


100 under 150 


3G. 75 


150 under 300 


45.00 


300 under 500 


50.78 


500under 1,000... 


52.03 




43.63 




idual, estate, and trust returns with net 




Total indi\ 


4.00 


4.41 


6.31 


5.37 


4.05 







i Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
individuals, including estates and trusts, are summarized on pp. 270-279. For returns with net income 
under $5,000, the amount of tax and distribution by net income classes are estimated, based on sample for 
years 1918 through 1927 and for 1929; and partly estimated and partly tabulated for 1917, 1928, 1930, and 
subsequent years. 



Individual returns with net income, including returns of estates and trusts, 1916-1938, 
and individual returns with no net income, 1928-1938: sources of income, deduc- 
tions, and net income or deficit x 

[Thousands of dollars] 



Distribution 


1916 


1917 s 


1918 


1919 


1920 


1921 


Income: 5 














Salaries, wages, commis- 














sions, etc. 6 


1,851,277 


3, 648, 438 


8, 267, 392 


10, 755, 693 


19 15,322,873 


13, 813, 169 


Business... . 


>s 2, 637, 475 


2,865,413 


3, 124, 355 


3, 877, 550 


i» 3, 215, 555 


2, 366, 319 




(20) 


775, 087 


1,214,914 


1, 831, 430 


1 9 1, 706, 229 


1, 341, 186 


Profit from sale of real 














estate, stocks, bonds, 














etc., other than taxed as 














capital net gain from sale 














of assets held more than 2 














years 


(20) 


1 










Capital net gain from sale 
of assets held more than 2 


(20) 

643, 803 


\ 318, 171 
684, 343 


291, 186 
975, 680 


999, 364 
1, 019, 094 


1, 020, 543 
1,047,424 


462, 859 


Rents and royalties. -. 


1, 177, 958 


Dividends received 8 


2, 136, 469 


2, 848, 842 


2, 468, 749 


2, 453, 775 


2, 735, 846 


2, 476, 952 


Income from fiduciaries 9 ... 


379, 795 


(21) 


(22) 


(22) 


(22) 


(22) 


Taxable interest on par- 














tially tax-exempt Gov- 














ernment obligations I0 


(23) 


(21) 


(2.) 


63, 377 


61, 550 


46, 994 


Interest and other income ll _ 


701, 084 


936, 715 


1, 403, 486 


1, 437, 402 


1 9 1, 580, 250 


1, 643, 344 


Total income 


8, 349, 902 


12, 077, 009 


17, 745, 761 


22, 437, 686 


26, 690. 270 


23, 328, 782 






Deductions: s 














Net loss from sale of real 














estate, stocks, bonds, 














etc., other than reported 














for tax credit on capital 














net loss from sale of assets 














held more than 2 years. _. 


(24) 


(J4) 


(24) 


(24) 


(24) 


(24) 


Net loss from business 


} («) 


(24) 




(24) 




(24) 


Net loss from partnership.. 








} (") 






(24) 




(24) 




(24) 


(24) 


(24) 


Contributions 12 


(24) 

2, 051, 324 


245, 080 
640, 683 


(24) 

1,821,122 


(24) 

2, 578, 194 


387, 290 
2, 567, 351 


(24) 


Other deductions 13 


3, 751, 569 


Total deductions 13 


2, 051, 324 


885, 763 


1,821,122 


2, 578, 194 


2, 954, 641 


3, 751, 569 




6, 298, 578 


11, 191, 246 


15, 924, 639 


19, 859, 491 


23, 735, 629 


19, 577, 213 







For footnotes, see pp. 74-75. 



STATISTICS OF INCOME 



67 



Individual returns with net income, including returns of estates and trusts, 1916-1938, 
and individual returns with no net income, 1928-1938: sources of income, deduc- 
tions, and net income or deficit ' — Continued 

[Thousands of dollars] 



Distribution 


1922 


1923 3 


1924 


1925 


1926 


1927 


Income: 5 

Salaries, wages, commis- 


13, 693, 993 
2, 839, 771 
1, 427, 127 

742, 104 

249, 248 
1,224,929 
2, 664, 219 

257, 928 

33, 989 
} 1,738,601 


14,195,356 
4, 722, 766 
1, 676, 409 

863, 107 

305, 394 
1, 814, 126 
3,119,829 

329, 124 

43,711 
2, 177, 771 


13, 617, 663 
4, 755, 483 
1,810,014 

1, 124, 566 

389, 148 

2, 009, 716 

3, 250, 914 
310, 144 

29, 645 
2, 281, 703 


9, 742, 160 
3, 688, 804 
1, 827, 025 

1,991,659 

940, 569 
1, 471, 332 
3, 464, 625 

305, 806 

25, 651 
1, 814, 402 


9,994,315 
3, 572, 895 
1, 732, 581 

1,465,625 

912,917 
1, 450, 760 
4,011,590 

333, 365 

36, 782 
1, 936, 604 


10, 218, 450 




3, 287, 421 


Partnership 7 

Profit from sale of real 
estate, stocks, bonds, 
etc., other than taxed as 
capital net gain from sale 
of assets held more than 


1, 755, 145 
1, 813, 396 


Capital net gain from sale 
of assets held more than 


1,081,186 


Rents and royalties- - 

Dividends received 8 

Income from fiduciaries 9 ... 
Taxable interest on par- 
tially tax-exempt Gov- 
ernment obligations 10 

Other taxable interest 


1, 302, 276 

4, 254, 829 

421,481 

47, 479 
f 1, 675, 916 
1 350, 981 








24, 871, 908 


29, 247, 593 


29, 578, 997 


25, 272, 035 


25, 447, 436 


26, 208, 561 






Deductions: 5 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of assets 
held more than 2 years... 

Net loss from business 

Net loss from partnership. _ 


(24) 

} («) 

} (") 
425, 218 
3, 110, 478 


(24) 
(24) 

(24) 

534, 797 
3, 935, 330 


(24) 
(24) 

(24) 

533, 168 
3, 389, 675 


(24) 

(24} 

(24) 

441, 590 
2, 935, 868 


178, 216 

(24) 
(24) 

484, 205 
2, 826, 509 


227, 879 

(24) 


Taxes paid ... 

Contributions 12 . . . 

Other deductions 13 


(24) 

507, 705 
2, 927, 886 


Total deductions 13 


3, 535, 696 


4, 470, 127 


3, 922, 843 


3. 377, 458 


3, 488, 930 


3, 663, 470 




21, 336, 213 


24, 777, 466 


25, 656, 153 


21, 894, 576 


21, 958, 506 


22. 545, 091 







For footnotes, see pp. 74-75. 



68 



STATISTICS OF INCOME 



Individual returns with net income, including returns of estates and trusts, 1916-1938, 
and individual returns with no net income, 1928-1938: sources of income, deduc- 
tions, and net income or deficit * — Continued 

[Thousands of dollars] 





1928 


1929 


1930 


Distribution 


Individual, 
estate, and 

trust re- 
turns with 
net income 


Individ- 
ual re- 
turns with 
no net 
income 


Individual, 
estate, and 

trust re- 
turns with 
net income 4 


Individual 
returns 
with no 

net income 


Individual, 
estate, and 

trust re- 
turns with 
net income 


Individ- 
ual re- 
turns with 
no net 
income 


Income: 5 

Salaries, wages, commis- 
sions, etc. 6 

Business . _ ... 

Partnership ' 

Profit from sale of real 
estate, stocks, bonds, 
etc., other than taxed as 
capital net gain from sale 
of assets held more than 


10, 862, 331 
3, 243, 955 
1 . 929, 520 

2,928, t42 

1,879,780 

1, 164,518 

4,350,979 

443, 998 

40, 553 

1,841,818 

302, 040 


82, 193 
32,811 
16.631 

53, 584 

274 
67, 071 
88, 984 
17,577 

1,763 
} 59, 760 


11, 173,068 

3, 327, 989 
1,846.431 

2, 335, 898 

2, 346, 704 
1, 278, 757 

4, 783, 240 
508, 221 

40, 184 
1 1,908,030 
1 296, 235 


199, 654 
58, 413 
49, 533 

85, 265 

1,426 

79, 984 

297. 726 

12, 209 

2,864 

] 115,177 


9, 921, 952 
2, 628, 057 
1.089,640 

636, 738 

556, 392 

974, 325 

1. 197.304 

429, 459 

38, 134 

1 1,608,434 
I a 239, 004 


283, 727 
69, 697 

:.7, 2. in 

| 68, 135 

103, 460 

434, 988 

19, 843 

5,738 
} 161, 536 


Capital net gain from sale 
of assets held more than 
2 years H . 

Rents and royalties 

Dividends received 8 _ 

Income from fiduciaries ll .... 
Taxable interest on par- 
tially tax-exempt Gov- 
ernment obligations 10 

Other taxable interest 

Other income " 


Total income 


28, 987, 634 


420, 649 


29, 844, 758 


902, 251 


25 22, 319. 446 


1,204,383 


Deductions: 5 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of assets 
held more than 2 years... 

Net loss from business 

Net loss from partnership 7 _ 


171, 743 
} (») 

} ( M ) 
532, 886 
3, 056, 679 


144, 561 

(84) 

l ( 24 ) 
1 125, 990 
8,465 
640, 847 


994, 665 

( 2) ) 

} ( M ) 
527, 093 
3, 522, 265 


26 838, 984 

(24) 
/ (*) 

I 156, 054 

13,016 

919, 327 


1,232,776 
172, 538 

} (**) 
» 417, 771 
2, 377, 726 


2 « 1, 307, 143 

570, 023 

J (») 

\ 31, 536 




Contributions 12 ... __ . _ 
Other deductions 13 


16. 630 
818, 503 


Total deductions 13 


3, 761, 308 


919, 862 


5, 044, 023 


1, 927, 381 


"4,200,811 


2, 743, 835 


Net income or deficit 


25, 226, 327 


27 499, 213 


24, 800, 736 


27 1, 025, 130 


18, 118, 635 


27 1, 539, 452 



For footnotes, see pp. 74-75. 



STATISTICS OF INCOME 



69 



Individ i.al returns with net income, including returns of estates and trusts, 1916-1938, 
and individual return* with no net income, 1928-1938: sources of income, deduc- 
tions, and net income or deficit ' — Continued 

[Thousands of dollars] 





1931 


1932 


1933 


Distribution 


Individual, 
estate, and 

trust re- 
turns with 
net income 


Individual 
returns 
with no 

net income 


Individual, 
estate, and 

trust re- 
turns with 
net income 


Individual 
returns 
with no 

net income 


Individual, 
estate, and 

trust re- 
turns with 
net income 


Individual 
returns 
with no 

net income 


Income: 5 

Salaries, wages, commis- 


8, 325. 162 

1, 889. 759 

729, 523 

301, 664 

169, 949 

77(). 764 

3,113,861 

369, 140 

25, 325 

1, 337. 606 

235, 696 


305. 684 
73, 186 
47, 754 

29, 573 

117,059 

485, 616 

29, 438 

5,138 
206, 302 


8, 136, 717 

1, 294, 952 

482, 863 

< 112,814 

I 50, 074 

529, 989 

1, 972, 133 

310, 949 

29, 188 
J 1,141,799 
\ 330, 602 


219, 716 

54, 880 
28,612 

i 20, 602 

105. 609 

216,544 

18,843 

4,235 
131, 993 
30, 559 


7, 390, 356 

1, 402, 923 

603, 725 

( 419, 591 

I 133, 616 

447, 883 

1, 559, 046 

276, 067 

31, 689 
961, 732 
167, 197 


174, 581 
51, 137 






31,000 


Proflt from sale of real es- 
tate, stocks, bonds, etc., 
other than taxed as cap- 
ital net pain from sale of 
assets held more than 2 

vears 

Capital net gain from sales 
of assets held more than 

2 vears " 

Rents and royalties 

Dividends received • 
Income from fiduciaries 9 _ . 
Taxable interest on par- 
tially tax-exempt Gov- 
ernment obligations 10 _-_ 
Other taxable interest 
Other income " 


[ 67, 470 

J 

83, 675 
152, 361 
19, 846 

4, 420 
107, 904 
33, 423 


Total income - - ._ .. 


17, 268, 451 


1, 299, 750 


14, 392, 080 


831, 592 


13, 393, 825 


725, 817 


Deductions: 5 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of as- 
sets held more than 2 

years, _ 

Nel loss from business 

Net loss from partnership 7 . 

Interest paid 15 

Taxes paid 15 

Contributions 12 

Other deductions ' 3 


1. 160, 765 
} 134, 685 

} ( 2< ) 
328. 300 
2, 039, 705 


2« 1, 818, 724 
590, 123 

/ (") 
\ 197. 133 
25, 629 
605,019 


375, 445 
112,659 

} (») 

304, 009 
28 1,944,057 


2« 835, 280 

519, 340 

/ ( 2 <) 
\ 177, 758 
12, 651 
767, 486 


365, 782 
/ 61, 985 
1 30, 435 
507, 520 
506, 258 
252, 251 
660, 956 


2« 773, 899 
181, 099 

68, 850 
135, 232 
171, 387 

29, 664 
507,017 


Total deductions 13 


3,663,455 3,236,628 


» 2, 736. 171 


2,312,514 1 2,385,187 


1. 867, 148 


Net income or deficit 


13,604,996 l» 1,936,878 


2*11,655,909 


« 1,480,922 ! 11,008,638 


27 1,141,331 



For footnotes, see pp. 74-75. 



70 



STATISTICS OF INCOME 



Individual returns with net income, including returns of estates and trusts, 1916-1931 
and individual returns with no net income, 1928-1938: sources of income, deduc- 
tions, and net income or deficit 1 — Continued 

[Thousands of dollars] 





1934 


1935 


1936 


Distribution 


Individual, 
estate, and 
trust re- 
turns with 
net income 


Individual 
returns 
with no 

net income 


Individual, 
estate, and 

trust re- 
turns with 
net income 


Individual 
returns 
with no 

net income 


Individual, 
estate, and 

trust re- 
turns with 
net income 


Individual 
returns 
with no 

net income 


Income: 5 

Salaries, wages, commissions, 
etc.' 


8, 600, 455 
1, 716, 842 
631,915 
211,319 
509, 844 
1, 965, 670 
288, 730 

38, 044 
909, 231 
220, 910 


80, 415 
30, 808 
12, 137 
17, 746 
59, 225 
75, 078 
8,552 

2,224 

45, 235 
12,635 


9, 900, 578 
1, 855, 019 
739, 822 
509, 714 
572, 060 
2, 234, 727 
328, 978 

43, 820 
900, 501 
231, 286 


71, 670 
25, 688 

9,514 
20, 409 
51, 121 
53, 608 

6,874 

2,319 
32, 985 
14, 465 


11, 661, 274 

2, 374, 258 

1, 022, 288 

973, 796 

685, 063 

3, 173, 844 

S26, 184 

43. 627 


57, 036 


Business profit- ... 


22, 729 




9,450 




22, 497 




42. 091 




54, 156 


Income from fiduciaries 9 

Taxable interest on partially 
tax-exempt Government 


8,738 
1. 322 


Other taxable interest 

Other income " 


887,684 1 22,017 
240,357 1 8.493 






248, 530 


Total income 


15,092,960 1 344.055 


17,316,505 


288, 653 


21, 888, 373 


Deductions: 5 

Business loss __ .. 


63, 885 
29, 004 
183, 762 
517, 217 
541, 191 
272, 822 
688, 277 


130, 522 
42, 943 
27, 274 
88, 538 
64, 143 
6,994 

396, 499 


67, 453 
23, 876 
145, 728 
503, 730 
596, 559 
305, 155 
764, 191 


116,068 
35. 601 
21.616 
67, 924 
48,415 
4,998 

375, 384 


79, 520 
21, 307 
129, 704 
544, 869 
698, 609 
385, 838 
788, 416 


90, 070 




28, 190 




14, 845 




48, 189 




38, 850 




3, 753 


Other deductions '3... 


311,263 


Total deductions 13 _ . 


2, 296, 158 


756, 914 


2, 406. 693 


670, 006 


2, 648, 263 


535. 161 


Net income or deficit 


12, 796, 802 


27 412, 859 


14, 909, 812 


27 381, 353 


19,240.110 1 "286,632 



Distribution 



Individual, 
estate, and 
trust re- 
turns with 
net income 



Individual 
returns 
with no 

net income 



1938 



Individual, 
estate, and 

trust re- 
turns with 
net income 



Individual 
returns 
with no 

net income 



Income: 3 

Salaries, wages, commissions, etc. 6 

Business profits 

Partnership profits 7 

Net capital gain: 16 

Short-term 

Long-term 

Net gain from sale of property other than capital 

assets 17 

Rents and royalties 

Dividends received 8 

Income from fiduciaries 9 

Taxable interest on partially tax-exempt Govern- 
ment obligations 10 

Other taxable interest 

Other income " 



14, 148. 510 
2, 493, 426 
1, 139, 301 

I 434, 114 



Total income. 



Deductions: 5 

Business loss... 

Partnership loss 7 

Net capital loss I6 

Net long-term capital loss 16 __- _ 

Net loss from sale of property other than capital 

assets I7 

Interest paid IS 

Taxes paid IS > 

Contributions '2 

Other deductions 13 



758, 444 

3, 514, 293 

830, 772 

47, 955 
862, 349 
224, 935 



24, 454, 099 



97, 940 

29,011 

264, 192 



Total deductions' 3 .-. 
Net income or deficit. 



56(1.11(17 
837, 272 
440,010 
986, 103 



3, 215, 525 



21, 238, 574 



57, 386 
23,421 
10, 885 



13, 240, 991 
2, 349, 344 
1, 053, 673 



, 6 q4 - f 152, 108 
lh "' 4 ' !\ 324,795 



22. 607 

769, 687 

2, 372, 459 

646, 258 



40, 146 
60, 440 
10, 295 

1,563 
21, 343 

7, 968 



250, 394 



124, 159 
40, 034 
28, 695 



44, 601 

37, 618 

4, 919 



558, 912 



2' 308, 518 



46. 065 
844, 443 
233, 019 



65, 825 
25,954 
13, 533 

7.781 
6, 443 

1. S26 

41,601 
89,424 
19,291 

2, 373 
32, 034 
12, 983 



22, 055, 449 



318, 769 



99, 263 
30, 662 



142,717 

37, son 



395, 779 

21,805 

509, 093 
816, 381 
407,419 
877, 674 



192. 220 

21, 427 
48, 049 
44. 779 
6, 560 

179.374 



3, 158, 076 



672, 925 



18, 897, 374 



27 354, 156 



For footnotes, see pp. 74-75. 



STATISTICS OF INCOME 



71 



Individual returns with net income of $5,000 and over, including returns of estates 
and trusts, 1916-1988: sources of income, deductions, and net income l 

[Money figures in thousands of dollars] 



Distribution 


1916 


1917 


1918 


1919 


1920 


1921 




»» 272, 252 


432, 662 


478, 962 


657, 659 


681, 562 


525, 606 




Income: 6 

Salaries, wages, cornmis- 


1, 398, 329 
"8 2, 386, 905 

(20) 

(20) 
(20) 

516, 742 

2, 098, 428 

365, 326 

(23) 

627, 943 


1, 794, 790 
1, 062, 772 

581, 708 

1 217, 929 

340, 868 

2, 64S, 155 

(21) 
(21) 

822, 480 


2, 103, 819 

1, 148, 297 

913, 853 

187, 406 

386, 474 
2, 133, 209 

(22) 
(21) 

799, 186 


2, 948, 006 
1, 743, 800 
1, 426, 072 

677, 284 

445, 701 
2, 128, 291 

(22) 

62, 571 
876, 687 


3, 367, 516 
1, 398, 069 

1, 261, 899 

623, 993 

451, 878 

2, 363, 880 

(22) 

60, 432 

847, 894 


2, 831, 520 




816, 040 




903, 571 


Profit from sale of real 
estate, stocks, bonds, 
etc., other than taxed as 
capital net gain from sale 
of assets held more than 
2 years 

Capital net gain from sale 
of assets held more than 


254, 456 


Rents and royalties 

Dividends received s . 

Income from fiduciaries «... 

Taxable interest on partial- 
ly tax-exempt Govern- 
ment obligations 10 

Interest and other income ". 


420, 932 
1, 915, 138 

(22) 

40, 281 
732, 697 


Total income 


7, 393, 672 


7, 468, 702 


7, 672, 243 


10, 308, 411 


10, 375, 561 


7, 914, 635 






Deductions: 8 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of assets 
held more than 2 years. .. 

Net loss from business 

Net loss from partnership.. 


(24) 
(24) 
(24) 
(24) 
(24) 
(24) 

1, 719, 764 


(24) 
(24) 
(24) 
(24) 
(24) 

186, 907 
271, 391 


(24) 
(24) 
(24) 
(24) 
(24) 
(24) 

1, 142, 003 


(24) 
(24) 
(24) 
(24) 
(24) 
(24) 

1, 598, 583 


(24) 
(24) 
(24) 
(24) 
(24) 
(30) 

1, 914, 150 


(24) 
(24) 
(24) 

(24) 


Taxes paid. 


(24) 


Contributions 12 

Other deductions 13 


(24) 

1. 552, 857 


Total deductions 13 


1, 719, 764 


458, 297 


1, 142, 003 


1, 598, 583 


1, 914, 150 


1, 552, 857 


Net income 


5, 673, 909 


7, 010, 404 


6, 530, 241 


8, 709, 828 


8, 461, 412 


6, 361, 778 



For footnotes, see pp. 74-75. 



72 



STATISTICS OF INCOME 



Individual returns with net income of $5,000 and over, including returns of estates 
and trusts, 1916-1938: sources of income, deductions, and net income 1 — Continued 

[Money figures in thousands of dollars] 



Distribution 


1922 


1923 3 


1924 


1925 


1926 


1927 


Number of returns ___ _. 


594, 21 1 


625. 897 


697, 138 


830, 670 


894, 868 


913 597 






Income: 5 

Salaries, wages, commis- 


2, 933, 454 

1, 012, 440 
918, 183 

490, 794 

249, 248 
482, 189 

2. 173,499 
197, 189 

30, 962 

| 850, 935 


3, 114,006 

1.057.731 
921,851 

458, 184 

305, 394 

497, 624 

2,435, 137 

233, 982 

30, 465 
864, 514 


3,490,916 
1. 290. 722 
1,112,710 

770, 026 

389, 148 

570. 427 

2,617,871 

206. 972 

29, 645 
932, 324 


4,033,811 
1. 623, 638 
1. 422, 799 

1.723,438 

940,569 

679, 569 

3,045, 368 

248. 163 

25, 651 
1,084, 120 


4, 363, 395 
1.738,523 
1, 329. 786 

1, 224, 278 

912,918 

689, 981 

3, 581, 362 

273. 252 

36, 782 
1,217,681 


4, 524. 276 
1, 704 175 


Business 


Partnership 7 . 


1.354.422 


Profit from sale of real 
estate, stocks, bonds, 
etc., other than taxed as 
capita! net gain from sale 
of assets held more than 
2 vears 

Capital net pain from sale 
of assets held more than 
2 years 14 __ __ 


1,511,859 
1 OM 186 


Rents and royalties 
Dividends received ■ 
Income from fiduciaries 5 
Taxable interest on partial- 
ly tax-exempt Govern- 
ment obligations '" 
Other taxable interest 
Other income " 


644, 302 

3.761.910 

329, 35 1 

47, 479 
/ 1,115,925 
1 185, 099 








9, 338, 893 


9, 918. 886 


11,410,761 


14, 827, 127 


15,367,957 


16, 259, 984 






Deductions: 5 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of assets 
held more than 2 years 
Net loss from business . . ___ 
Net loss from partnership 


(24) 
[ (M) 
f ( 24 ) 

211,863 
1, 323, 007 


(24, 
(24) 

(24) 

238, 378 
1, 391, 835 


(24) 

(«) 

(84) 

254, 072 
1, 405, 532 


(24) 

(24) 

(24) 

293, 401 
1,756,030 


122.409 

(24) 
(24) 

326,511 
1,691,377 


136, 482 

(24) 

\ 440. 974 




Contributions 12 

Other deductions 13 


353, 188 
1, 265, 148 


Total deductions '» 


1,534,871 


1, 630, 214 


1. 659, 605 


2,049,431 


2, 110,298 


2, 195, 792 


Net income-.- . . 


7, 804, 022 


8, 288, 672 


9, 751, 156 


12, 777, 696 


13, 227, 659 


14, 064, 193 



For footnotes, see pp. 74-75. 



STATISTICS OF INCOME 



73 



Individual returns with net income of $5,000 and over, including returns of estates 
and trusts, 1916-1938: sources of income, deductions, and net income. 1 — Continued 

[Money figures in thousands of dollars] 



Distribution 


1928 


1929 


1930 


1931 


1932 


1933 




1, 010, 887 


1, 032, 071 


810, 431 


590, 731 


350, 442 


331,892 




Income' ' 

Salaries, wages, commis- 
sions, etc. 6 

Business . ... 

Partnership : 

Profit from sale of real 
estate, stocks, bonds, 
etc., other than taxed as 
capital net gain from sale 
of assets held more than 


5, 008, 286 
1. 772, 255 

1, 583, 322 

2. 700, 557 

1,879,780 

637, 371 

4.009,915 

364, 889 

40, 553 

1, 230. 178 

196,111 


5. 179.041 

1, 836, 329 
1.497.922 

2. 044, 058 

2, 346, 704 
649, 124 

4, 247, 031 
422, 076 

40, 184 

1,257,590 
190,110 


4, 407. 'Kir, 

1,215,452 

786, 931 

527, 653 

556. 392 

179.401 

3, 708, 656 

338, too 

38. 134 

1.018,001 

130, 191 


3, 320, 028 

766, 730 
492, 147 

196. 574 

169. 949 

306, 336 

2, 583, 674 

280, 627 

25, 325 

749, 345 
120, 845 


2, 057, 254 
354, 488 
284, 624 

71,643 

50, 074 

160, 244 

1, 540, 625 

217, 610 

29.188 
536, 541 
67, 353 


1, 838, 646 
393, 815 
401, 931 

308,711 


Capital not gain from sale 
of assets held more than 

2 years 14 .. 

Rents and royalties. 

Dividends received 8 

Income from fiduciaries " 
Taxable interest on partial- 
ly tax-exempt G overn- 

ment obligations 10 

Other taxable interest ..... 
Other income ll _... 


133, 616 

124, 144 

1, 199, 867 

182, 735 

31, 689 

422, 731 

69, 656 


Total income 


19,423,216 


19, 710, 168 


13, 206, 817 


9,011,581 


5, 369, 646 


5, 107, 539 


Deductions. 5 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of assets 
held more than 2 years 

Net loss from business . 

Net loss from partnership. ? . 

Interest paid 15 __ 


129,865 
} ( 2 <) 

866, 058 
475, 422 
390, 923 
604, 987 


032, 693 

(24) 

886, 187 
479, 100 
384, 458 
631, 836 


947, 121 

105, 219 

574. 630 
407. 996 
286, 218 
364, 544 


813, 503 

72, 125 

373, 603 
294, 165 
202, 979 
313, 573 


174,627 

46, 972 

250, 844 
230, 543 
139, 846 
283, 046 


152,959 
f 26, 792 
\ 15, 597 

208,311 

200, 078 


Contributions 12 

Other deductions 13 


111,219 
245, 065 


Total deductions 13 


2, 467, 255 


3, 014, 274 


2, 685, 728 


2, 069, 948 


1, 125, 878 


960, 022 


Net income 


16, 955, 961 


16, 695, 895 


10,521,088 


6, 941, 633 


4, 243, 768 


4, 147, 517 



For footnotes, see pp. 74-75. 



74 



STATISTICS OF INCOME 



Individual returns with net income of $5,000 and over, including returns of estates 
and trusts, 1916-1938: sources of income, deductions, and net income 1 — Continued 

[Money figures in thousands of dollars] 



Distribution 



Number of returns- 



Income: 5 

Salaries, wages, commissions, etc. 6 

Business profit 

Partnership profits 7 

Net capital gain: 16 

Short-term 

Long-term 

Net gain from sale of property other 

than capital assets 17 

Rents and royalties 

Dividends received 8 

Income from fiduciaries 9 

Taxable interest on partially tax- 
exempt Government obligations 10 

Other taxable interest 

Other income u 



Total income . 



Deduction: ! 

Business loss 

Partnership loss 7 

Net capital loss I6 

Net long-term capital loss 16 

Net loss from sale of property other 

than capital assets " 

Interest paid 15 

Taxes paid 15 

Contributions 12 

Other deductions 13 



Total deductions 13 _ 
Net income 



1934 



2, 300, 256 
568, 689 
438, 066 

160, 218 



165, 786 

1,585,042 

203, 854 

38, 044 
453, 480 
99, 226 

6, 012, 662 



29, 753 
15, 178 



231,267 
232, 490 
129, 650 
282,591 



1,011,898 



5, 000, 764 



1935 



500, 115 



2, 708, 879 
687, 467 
531,620 

399, 918 



198,210 

1,814,184 

232, 324 

43, 820 
448, 022 
123, 234 



7, 187, 678 



33,713 
13,113 
68, 981 



240, 731 
267, 571 
148, 180 
319,993 



1, 092, 283 



6, 095, 394 



1936 



677,011 



3, 493, 623 

1, 021, 608 

791, 010 

806, 916 



271,556 

2, 583, 888 

691, 024 

43, 627 
445, 355 
108, 784 



10,257,390 



45, 125 
12,551 
62, 828 



285, 260 
353, 986 
202, 147 
400, 864 



1, 362, 762 



8, 894, 628 



705. 033 



3, 819, 979 

1, 062, 875 

827, 058 



1938 



592, 446 



3, 309, 286 
856, 740 
702,317 



325,270 { «»;g2 



324, 869 

2, 780, 529 

703, 920 

47, 955 

431, 923 

91,931 

10, 416, 309 



54, 680 

16, 535 

139, 832 



265, 243 
431, 620 
218,614 
473, 724 



1, 600, 248 



8, 816, 061 



9,953 

298, 349 

1,662,511 

503, 905 

46, 065 
350, 031 
80, 427 

8, 204, 120 



48, 185 
15, 377 



246, 213 

9,503 
209, 986 
381,403 
177, 207 
318, 057 



1, 405, 932 



6,798,188 



1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
individuals, estates, and trusts are summarized on pp. 270-279. For 1916 through 1936 includes Forms 1040 
and 1040A filed for individuals and for estates and trusts. For 1937 and 1938 includes Forms 1040 and 1040A 
filed for individuals, taxable Forms 1041 filed for estates and trusts, and Forms 1040 erroneously filed for 
estates and trusts, except that for 1938 there are excluded nontaxable Forms 1040 with net income errone- 
ously filed for estates and trusts. For returns of net income under $5,000. the distribution of number of 
returns by net income classes is estimated on basis of sample for years 1918 through 1927 and for 1929. and 
partly estimated and partly tabulated for 1917, 1928, 1930, and subsequent years. For returns with net in- 
come under $5,000 the amount and distribution by net income classes, of net income and tax are estimated 
on basis of sample for 1918 through 1927 and for 1929; and partly estimated and partly tabulated for 1917. 
1928, 1930, and subsequent years. Individual returns with no net income available since 1928 are com- 
pletely tabulated. 

2 Excludes data for 1,640,758 returns with net income under $2,000 and aggregate net income of $2,461,137,000. 
' Revised. (See Statistics of Income for 1925, pp. 28-29.) 

« Revised figures for returns with net income under $5,000. (See Statistics of Income for 1934, Part 1, 
p. 31, footnote 18.) 

s The income items for 1916 are "Gross income," the deductions not having been allocated to the various 
sources but included in aggregate under "Deductions." Beginning 1917, the income items are "Net income," 
the deductions allocable to the various sources of income being applied against the gross income from the 
specific sources as reported on the schedules in the income tax returns. When net losses are shown on the 
schedules such net losses are transferred in tabulation to "Deductions," which also include the other 
unallocated items shown on the return under "Deductions." 

• Reported on individual returns. Excludes beginning 1924 wages and salaries of the individual, his wife, 
or dependent minors derived from the business conducted by the individual. Prior to 1924 such wages 
and salaries were reported as income under "Wages and salaries." Prior to 1927 includes taxpayer's earned 
income from a partnership. Includes "Professions and vocations" in 1916. 

(Continued on p. 75) 



STATISTICS OF INCOME 75 

: Certain income from partnerships is included in other sources (see notes 8, 10, and 14). Beginning 1936 
amount includes all dividends received by partnerships. Prior to 1030, dividends received by partnerships 
on stock of domestic corporations subject to taxation under Title I of tie effective revenue laws were tabu- 
lated under "Dividends received," while dividends on stock of foreign corporations (other than those 
deriving more than half their gross income from sources in the United States) and, except for 1932 and 

1933, dividends on stock of domestic corporations not subject to taxation under Title I of the effective 
revenue laws, were left in income from partnerships. For 1934 through 1937, amount includes net capital 
gain or loss from sale of capital assets by partnerships (see note 16). For 1918 through 1921, amount includes 
income from fiduciaries, and income from personal service corporations as defined in the Revenue Acts of 

1918 and 1921 (except certain amounts included in other sources, see notes 8 and 10). The amount for 
partnerships for 1916 was tabulated with business. 

6 Beginning 1936, amount includes dividends on stock of both domestic and foreign corporations, ex- 
cepting dividends received by partnerships and fiduciaries. Prior to 1936, amount includes dividends 
on stock of domestic corporations subject to taxation under Title I of the effective revenue laws, and until 

1934, the dividends received on stock of foreign corporations deriving more than half their gross income from 
sources within the United States, whether or not received direct or by partnership and fiduciaries; also 
dividends received through personal service corporations, 1918 through 1921; and stock dividends, 1916 
through 1919. 

9 Certain income from fiduciaries is included in other sources (see notes 8, 10, and 14). Beginning 1936, 
amount includes all dividends received by fiduciaries. Prior to 1936, dividends received by fiduciaries on 
stock of domestic corporations subject to taxation under Title I of the effective revenue laws were tabulated 
under "Dividends received," while dividends on stock of foreign corporations (other than those deriving 
more than half their gross income from sources in the United States) and, except for 1932 and 1933, dividends 
on stock of domestic corporations not subject to taxation under Title I of the effective revenue laws, were 
left in income from fiduciaries. For 1934 through 1937, amount includes net capital gain or loss from sale 
of capital assets received from an estate or trust (see note 16). For 1917, income from fiduciaries is included 
in "Interest and other income"; for 1918 through 1921, in "Partnerships." 

10 Includes interest on such obligations held directly by individuals, estates, or trusts, or such interest 
received through partnerships and fiduciaries; also such interest through personal service corporations, 

1919 to 1921, inclusive. In 1917 and 1918, amount included in "Interest and other income." 

11 Beginning 1936, amount excludes dividends received on stock of domestic corporations not subject to 
taxation under Title I of the effective revenue law and on stock of foreign corporations. For years prior 
to 1936, amount includes dividends received from these two types of corporations, except in so far as 
included in partnership and fiduciary income, and until 1934, except in so far as received from foreign cor- 
porations deriving more than half their gross income from sources within the United States. For 1917, 
includes income from fiduciaries. 

12 Reported on individual returns. 

13 For returns with net income, includes distributions to beneficiaries on estates and trusts, Forms 1040, 
1040A, and 1041. 

14 Capital net gain received by individuals, estates, or trusts direct or through partnerships or fiduciaries 
was taxed at special rate, 1922 to 1933, inclusive. 

15 Excludes amounts reported in schedules for business or profession and rents and royalties. A historical 
summary of taxes paid for the years 1927 through 1932 and of interest paid for the years 1928 through 1932, 
for returns with net income of $5,000 and over, showing separately the amount reported in deductions from 
total income and in business deductions, is found in the 1932 Statistics of Income, table 8A, p. 80. 

!6 Net capital gain or loss on sale of capital assets (regardless of time held) by individuals, estates, and 
trusts, after certain limitations are applied (see sec. 117, Revenue Acts of 1934, 1936, and 1938). For 1934 
through 1937. excludes net capital gain or loss on sale of capital assets by partnerships or fiduciaries, which 
amounts are included in income (or loss) from partnerships or income from fiduciary. For 1938, short- 
term net capital gain consists of gains on capital assets held 18 months or less, and long-term net capital 
gain or loss consists of gain or loss on capital assets held over 18 months (short-term net capital loss is not 
deductible in current year, see text, pp. 23-24). 

17 For 1938, gain or loss from property used in trade or business of a character which is subject to the 
allowance for depreciation and excluded from capital assets under Revenue Act of 1938. 

18 For 1916, includes partnership income and profit from sale of all stocks, bonds, etc., but excludes income 
from "Professions and vocations." 

'» Revised. (See Statistics of Income for 1935, Part 1, p. 42, note 4.) 

20 All profit from sale of real estate, stocks, bonds, etc., and income from partnership included in business 
for 1916. 

21 Included in "Interest and other income." 

22 Included in "Partnership." 

23 Such obligations were issued after Sept. 1, 1917. 

24 Included in "Other deductions." 

» Revised figures. See " Statistice of Income for 1937, Part 1" page 47, note 25.) 
2 « Includes capital net loss from sale of assets held more than 2 years. 
2 ' Deficit. 

28 Revised. (See Statistics of Income for 1935, Part 1, p. 34, note 3.) 

29 Exclusive of returns of married women making separate returns from husbands. 

30 Contributions for 1920 not available for returns with net income of $5,000 and over. 



290429—41- 



76 STATISTICS OF INCOME 

HISTORICAL DATA IN SOURCE BOOK 

The Source Book is a comprehensive compilation of data tabulated 
from individual income tax returns for 1927-1937, inclusive, and from 
corporation income tax returns for 1926-1937, inclusive. These data 
are supplementary to the published volumes, "Statistics of Income." 
It is planned also to transcribe in the Source Book the information 
from the 1938 returns. 

The following data in the Source Book for individual income tax 
returns are cross-classified by States and Territories, by taxable and 
nontaxable returns, and by net income classes: The sources of income 
and deductions (as published for each year in the Statistics of Income), 
total income, total deductions, net income, personal exemption and 
credit for dependents (combined for 1927-1932 and shown separately 
for 1933-1937), earned income credit for 1934-1937, net loss for prior 
year for 1927-1932, normal tax, surtax, 12% percent tax on capital 
net gain for 1927-1933, 12% percent tax credit for capital net loss for 
1927-1933, tax credit for earned income for 1927-1931, and total tax. 
The number of returns with net income and the amount of net income 
are cross-classified by States and Territories, by taxable and nontax- 
able returns, by net income classes, and by sex and family relationship. 
The items "amount owned" and "interest received" which are re- 
ported for each type of wholly and partially tax-exempt Government 
obligations on returns with net income of $5,000 and over for 1932- 
1937, inclusive, are cross-classified by States and Territories and by 
net income classes. 

A copy of the Source Book is maintained in the Statistical Section, 
Income Tax Unit, Bureau of Internal Revenue, and is available for 
research purposes to officials of the Federal and State Governments 
and to qualified students representing accredited organizations. To 
obtain data from the Source Book, written permission must be 
secured from the Commissioner of Internal Revenue. 

BASIC TABLES 

Tables showing information from individual income tax returns 
and fiduciary income tax returns in greater detail than in the preceding 
text are continued in the following pages. 



BASIC TABLES 1-9 



INDIVIDUAL INCOME TAX RETURNS WITH NET 

INCOME AND WITH NO NET INCOME, AND 

TAXABLE FIDUCIARY INCOME TAX 

RETURNS WITH NET INCOME 



i For summary of content of each table, see text wages 6-8. 

77 



78 



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495,890 

945, 395 
155, 191 

829,419 

X 12, 573 
9X11,610 
367,921 

820,791 

225, 950 
514,024 

478, 108 
284,687 

305, X52 
107,9X7 
2112,927 
032, 48X 
903, 179 

3X7.X56 
335, 902 
705,210 
655,430 
X75. X7X 
290, 732 
61(1, 45X 
065,688 
332,445 
862,643 
6X4. 977 
203, 957 


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1X0,317 
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298, 045 
056, 647 
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724, 364 
540,852 
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5X2, 895 
712.263 
203, 445 
4 IX. 646 
551,919 
525, 472 
630, 266 

679,068 

9X0.210 
101, 64X 
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211.297 
618,061 
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82 



STATISTICS OF INCOME 



Table 2.— Individual returns and taxable fiduciary returns with net income, 1 by 
fiduciary returns), 1938, by returns with no alternative tax and with alternative 
income credit, tax, average tax, and effective tax rate 



( For text defining certain items and describing methods 

PART I— 



Net income 2 classes 
(Thousands of dollars) 



(1) 



Number XT , . , 

of returns Net income 2 



(2) 



(3) 



Personal 
exemption 3 



(4) 



Credit for 

dependent? 

(individual 

returns) 



(5) 



Earned in- 
come credit 
(individual 
returns) 



(6) 



Individual returns and tax- 
able fiduciary returns s 
with net income: 

Under 1 (est.) 6 

Under 1 (est.).. 

1 under 2 (est.) 6 

1 under 2 (est.) 

2 under 2.5 (est.) » 

2 under 2.5 (est.) 

2.5 under 3 (est.) 6 

2.5 under 3 (est.) 

3 under 4 ( st.) * 

3 under 4 (est.) 

4 under 5 (est.) 6 

4 under 5 (est.) 

5 under 6 8 

5 under 6 

6 under 7 

7 under 8 

8under9 

9under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 2'"" 

20 un Ier25 

25 under 30.. 

30 under 40 

40 under 50 

50 under 60 

60 under 70 .. 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 . 

500 under 750 

750 under 1.000.. 
1.000 under 1.5O0... 
1.500 under 2.000.. 

2.000 under 3.000 

3,000 under 4.000.. 

4,000 under 5.000 

5.000 and over 



Nontaxable returns i 

Taxable returns 



339. 369 

50.502 

1.241.979 

1,191.970 

166,146 

208.450 

" . 27 

208, 059 

356,083 

498, 524 

18.542 

299,260 

666 

164,502 

102, 956 

66, 758 

46. 226 

34,488 

16.566 
13.479 
11,346 
35. 032 

10,207 

• 
5,315 
2,943 

1.77" 
1.144 

556 

1,326 

420 

229 

117 

142 

65 

81 

37 

30 

16 

6 

1 

1 

3 



3.155.112 
3,048,545 



$236. 

22, 

1,686. 

1. 743, 

1.060. 

461. 

• 

■ 

1,172, 

1, 733. 

79, 

1,331, 

3. 

898, 

665, 

498, 

391. 

326. 

271. 

236, 

a i6, 

181, 

164. 

601, 

397. 

278, 

370. 

236. 

160. 

114, 
85, 
71, 
52. 

158, 
72, 
•50. 
31, 
49. 
29. 
49. 
32, 
37. 
27, 
15. 
3. 
4. 
21. 



843. 136 
IS .. 160 
272. 556 
870,417 

593. 336 
296, 997 
733.384 
918, 195 

075, 079 
959, 363 
553, 832 

- 
222. 1 27 
251, 912 
923, 655 

631.437 
. 256. 433 
. 723. 924 
57 
, 343, 500 
,551,619 
,446.273 
, 699. 824 

,719,777 
693. 379 
3 ■ 74 
416, 671 

699. 076 
413.072 

; ' -.- 

706, 437 

091,252 
096.100 
299.944 

: 

625. 269 

292. 558 

". ' " 
273.2111 



$510, 49S. 530 

3, 338. 767 

-48,217 

1.174.037,050 

1.153. 778. S51 

210,022,289 

1.S29. 236,704 

367. 470, 596 

890, 340, 140 

1,086,434,391 

46. 322, 006 

660, 530, 857 

1, 652. 854 

359,175,065 

22P.. 604 

1 42, 927, 880 

97, 888. 976 

72. 295, 255 

54,158,439 

42, 558, 849 

34, 255, 160 

27, 874, 439 

23, 338. 674 

71.658,219 

35, 997. 700 

20, 282. 403 

21,351,054 

10. 360, 300 

5.700.903 

3.440.151) 

2. 246. 596 

1.611,333 

1.021,017 

2. 492. 308 

i 

429, 040 
219,388 

18 " 

118,175 

152.325 

59.300 

.56. 925 

31.950 

10, 100 

1,250 

1,000 

6.000 



11,677 

12.671.536,806 4.761.201.411 



individual re- 

and taxable 

fiduciary returns 

n't income 6. . 



Individual returns with no 
net income: 

Nontaxable _ 

Taxable ' 



Total, individual re- 
turns with no net 
income 



100, 207 

26 



' ..-73.623 



11, 402, i i 



'352,752.145 CO 

; 649 49.000 



$33, 985. 808 

159, 780 

241.953.090 

15, 198, 712 

121,464,451 

10, 593, 999 

310,586,567 

7.014,919 

:o'.i.026.377 

82,520,162 

30.160,240 

107,172,845 

1, 558, 667 

73, 398, 038 

45, 159, 910 

29,974,451 

20, 300, 352 

14.7S1.13S 

10,887,797 

8, 656. 436 

7, 030, 816 

5.671, 524 

4,763,019 

7.158,342 

4, 100, 621 

4.211.049 

2.017.714 

1. 112.891 

691.529 

431.272 

1 71 

186, 170 

423. 198 

123.265 

67,933 

38,233 

27. .501 

15, 632 

18,967 

4,367 

• 

3.467 
400 



MX 1 



735,200 

178 --58,488 



$11,401,309 

1, 389, 626 

122, 100, 520 

172,860,443 

62, 555, 613 

45.490,071 

156, 178, 662 

57, 699, 328 

94, 560. 532 

160.266,072 

6,253,174 

119,265,314 

245, 705 

76, 256, 344 

56,661,114 

38,466,964 

31,067,738 

23,514,190 

18,931,150 

16, 053, 410 

13.714.220 

11,970,803 

10.379.ws 

32, 427, S32 

16, 762. 319 

9, 689, 430 

10.345.326 

5,128,511 

2, 854, 532 

i 

1,142.198 

379, 136 
200.101 

7 

23, 224 

9,500 
2.300 

• 
1.400 
900 



" " 3, S65 



1.390.889.380 



CO 



6,400 



100.233 



'354.1 



(") 



Grand total 6.303.890 "18.543,217.829 

For footnotes, see p. 91. 



CO 



CO 



STATISTICS OF INCOME 



83 



net income classes, also aggregate for individual returns with no net income (excluding 
tax: number of returns, net income, personal exemption, credit for dependents, > 



of tabulating and estimating data, see pp. 1-6 an ; 
ALL RETURNS 







Tax 






Effective 


Total tax 
(OOl. 8+11) 

(7) 


Returns with no alternative tax * 


Returns with 

alternative 

tax « 

(11) 


tax rate. 
Average percent 
total tax (returns 


Total 

(col 9+10) Normal tax Surtax 
(8) (9) (10) 


(col.7-h2) 
1_> 


with net 
income) 
(col. 7-^3) 

(13) 
















$719, 042 


$719. 042 


$719, 042 






$14 


3.13 








15, 202, 489 


15, 202, 489 


15, 202, 489 






13 


.87 








7,781,637 


7, 773, 610 


7, 773, 610 




$8,027 


37 


1.69 






6,006,551 


5,973,356 


5, 973, 356 




33,195 


29 


1.03 






16,079,651 


16,051,432 


16,051,432 




28.219 


32 


.93 






17.840,378 


17, 759, 099 


17,670.366 


$88,733 


81,279 


60 


1.34 


16, 182. 183 
14, 945, 000 
13,983,479 
13,490,680 
13,052,771 
12,184,690 
11,667,118 
11,035,616 
10, 468, 638 
10,042,678 
42,872,018 
35,891,180 
30,851,963 
50,314,148 
39, 428, 145 
31, 823, 724 
26, 232, 159 
21,942,470 
20, 457, 515 
16,533,381 
58, 224, 181 
30,892,337 
23, 644, 277 
15, 207, 302 
25,041,152 
14, 791, 233 
25,881,612 
16, 470, 934 
17,154.201 
13,442.406 
6, 606, 032 
2,561,584 
1, 606. 967 


16, 165, 364 
14, 945, 000 
13,983,479 

13, 458, 338 

13,031,41s 

12,164,378 

11,664,683 

11,030.647 

10,401,736 

10, 042, 678 

42.691.714 

35, 725, 630 

30, 574, 475 

49,176,077 

31,709.216 

17, 192. 747 

12, 226, 371 

10, 127, 966 

7,623.755 

5, 984, 659 

17,414.805 

7,572,969 

4, 276, 797 

2, 816, 699 

6,471,338 

3, 252, 979 

2, 903, 666 

3, 583. 200 

1,907,557 

1, 225, 838 

1,485,442 


15,574.146 
13, 599, 307 


591,218 
1,345,693 


16, 819 


98 

145 

209 

292 

378 

470 

567 

666 

777 

885 

1,224 

2,010 

3,023 

4. 653 

7.41S 

10,813 

14, 779 

19,180 

24,325 

29. 736 

43.910 

73, 553 

103, 250 

129.977 

176,346 

227.557 

319, 526 

445,160 

571, 807 

840.150 

1,101.005 

2,561,584 

1, 606. 967 

2,221.356 


1.80 

2. 25 


11.370.192 2.613,287 




2.81 


9. 698, 598 

8, 559, 650 

7. 422, 592 

6, 687, 595 

6,005,356 

5. 392, 376 

4, 987. 345 

19.098.098 

13, 336. 156 

9.629.985 

13,062,482 

7,172,084 

3,354.677 

2,099,500 

1, 538, 603 

1.034.618 

738, 863 

1,818,780 

656, 903 

337. 896 

212,137 

455, 388 

216, 408 

ISO, 339 

213,404 

108, 291 

68, 250 

81,766 


3. 759. 740 

4,471,768 

4,741,786 

4,977,088 

5,025,291 

5.0(19.36(1 

5.055,333 

23,593.616 

22. 389, 474 

20, 944, 490 

36, 113, 595 

24. 537, 132 

13,838,070 

10.126,871 

8, 589, 363 

6,589,137 

5.215,796 

15, 596, 025 

6,916,066 

3. 938. 901 

2, 604, 562 

6.015,950 

3.036,571 

2, 723, 327 

3, 369, 796 

1, 799, 266 

1,157,588 

1,403,676 


32, 342 
21.353 
20.312 
2.435 
4.969 
66,902 

180, 304 

165, 550 

277, 4Ss 

1,138,071 

7, 718. P29 

14, 630, 977 

14, 005, 788 

11,814.504 

12. ^33,760 

10, 548, 722 

40. 809. 376 

23,319.368 

19,367,480 

12, 390, 603 

18. 569. 814 

11,538,254 

22. 977. 946 

12.887.734 

1 5. 246. 644 

12.216.568 

5, 120, 590 

2,561,584 

1, 606, 967 

6,664,068 


3.44 

3.99 

4.49 

4.94 

5.34 

5.76 

6.11 

7.13 

9.03 

11.07 

13.56 

16.66 

19.80 

22.87 

25.69 

28.71 

31.37 

36.75 

42.58 

46.59 

47.96 

50.74 

50.84 

52. 72 

50.99 

45.64 

48.66 

43.20 

72.67 








37.61 


6, 664. 068 









30.56 



























765, 217, 590 


486, 310, 649 


228,102,080 


258, 208, 569 


278, 906. 941 


251 


6.04 


765, 217, 590 


486, 310, 649 


228, 102, 080 


258, 208, 569 


278. 906. 941 


123 


4.05 
















615,251 








615.251 


23,664 












615,251 [ 






615,251 


(") 




765,832,841 i 486,310,649 ' 228,102.080 ' 258,208.569 


279,522,192 1 ( IJ ) 





84 



STATISTICS OF INCOME 



Table 2. — Individual returns and taxable fiduciary returns with net income, 1 by 
fiduciary returns), 1938, by returns with no alternative tax and ivith alternative 
income credit, tax, average tax, and effective tax rate — Continued 

PART II— RETURNS WITH 



Net income 2 classes 
(Thousands of dollars) 



(1) 



Individual returns and tax- 
able fiduciary returns 2 
with net income: 
Under 1 (est.) 6 — 

Under 1 (est.)- 

1 under 2 (est.) 6 

1 under 2 (est.) 

2under2.5 (est.) 6 

2 under 2.5 (est.) 

2.5 under 3 (est.) 6 

2.5 under 3 (est.) 

3 under 4 (est.) 9 

3 under 4 (est.) 

4 under 5 (est.) 6 

4 under 5 (est.) 

5 under 6 6 

5 under 6... 

6under 7 

7under8 

8under9 

9under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25under30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 ". 

150 under 200 

200 under 250 

250 under 300 

300under400 

400 under 500 

500 under 750 

750 under 1.000 

1,000 under 1,500 

1,500 under 2.000.. 

2,000 under 3,000 

3,000 under 4,000... 

4,000 under 5,000 

5,000 and over 



Nontaxable returns s 

Taxable returns 



Total, individual re- 
turns and taxable 
fiduciary returns 
with nel iiu ome 
Individual nontaxable re- 
turns with no net income 7 

Grand total 



Number 

of returns 



(2) 



339, 369 

50, 502 

1,241,979 

1,191,970 

466, 146 

208, 449 

732, 327 

208,057 

356, 083 

498, 523 

18, 542 

299, 258 

666 

164, 495 

102, 956 

66, 758 

46, 223 

34, 485 

25,917 

20, 573 

16, 559 

13, 174 

11,346 

35, 002 

17. 81 9 

10,147 

10,651 

4,423 

1,649 

857 

544 

319 

202 

398 

97 

39 

20 

33 

12 

7 

6 

2 

1 

1 



Net income 2 



(3) 



3, 155, 112 
3,041,775 



6,190,887 
100, 207 



6, 297, 094 



$236, 

22, 

1,686, 

1,743, 

1,060, 

461, 

1,986, 

582, 

1, 172, 

1, 733, 

79, 

1,331, 

3, 

898, 

665, 

498, 

391, 

326, 

271, 

236, 

206, 

181, 

164, 

601, 

396, 

277. 

365, 

195, 



6,225,836,817 

11,895.332,013 



18.121,168,830 
• 352, 752, 1 15 



10 17.768,416,685 



Personal ex- 
emption 3 



W 



$510, 

3, 

2, 209, 

1,174, 

1,153, 

210, 

1,829, 

367, 

890, 

1,086, 

46, 

660, 

1, 

359, 

226, 

142, 

97, 

72, 

54, 

42, 

34, 

27, 

23, 

71. 

35, 

20, 

21, 

3,' 
1, 
1, 



498, 530 
338. 767 
848,217 
037, 050 
778, 851 
019,789 
236, 704 
167, 096 
340, 140 
431,891 
322, 006 
527, 357 
652, 854 
160, 565 

604, 104 
927. 880 
885, 476 
289, 255 
150,439 
551,349 
244, 100 
865, 939 
338, 67 ! 

605, 009 
924, 005 
164, 278 
033, 083 
713.45>l 
154,725 
622, 624 
051,633 
611,303 
370,925 
740, 925 
173,059 

69,415 
33. 250 
50,900 
22. 750 
13,875 
7, 500 
3, 750 
2, 500 



Credit for 

dependents 

(individual 

returns) 



(5) 



6,641,677,302 

4,718,239,479 



$33, 985, 808 

159, 780 

241,953,090 

15, 198,712 

121,464,451 

10, 593. 999 

310, 586, 567 

7.014,919 

309,026.377 

82, 520, 162 

30, 100. 240 

107, 172, 845 

1,558,007 

73, 390, 671 

45,159,910 

29, 974, 451 

20. 300, 352 

14, 780. 338 

10,886,530 

8, 656. 036 

7, 029, 283 

5, 670, 924 

4,703.019 

14,010. 711 

7. 140. 475 

4, OSO. 354 

4, 100. 632 

1,740.470 

004.350 

350, 377 

221. 706 

128, 320 

72, 642 

149, 979 

23. .".07 

15, S00 

1.207 

0,000 

1.100 

2, 833 



1,200 



Earned in- 
come credit 
(individual 
returns) 



(«) 



$11,401, 

1, 389, 

122, 100, 

172,800, 

02, 555. 

45, 489, 

156. 178, 

57, 698, 

94, 500, 

100,265, 

6, 253, 

119,264, 

245, 

76, 254, 

56, 661, 

38, 466, 

31,066, 

23,512, 

18. 928, 

16,049, 

13, 708, 

11,965, 

10,379, 

32, 406, 

16, 725, 

9.010. 

10,201, 

4, 330, 

1.015, 

832, 

549, 

309, 

189, 

371, 

85, 

37, 

14, 

25, 

6, 

3, 

3, 

1, 

1, 



1 , 04S, 735, 200 
476, 667. 825 



11,389,910. 7S1 
(") 



( u ) 



1,525, 103,025 

(") 



(") 



453,295,515 

'.131.314.1101 



1,384,609,576 



For foot notes, see p. 91. 



STATISTICS OF INCOME 



85 



net income classes, also aggregate for individual returns with no net income {excluding 
tax: number of returns, net income, personal exemption, credit for dependents, earned 



NO ALTERNATIVE TAX* 



Tax 


Average total 
tax (col. 7-^2) 

(12) 


Effective 

lax rate, 
percent 

(returns 
with net 
income) 
(col. 7^-3) 

(13) 


Total tax (col. 
9+11) 

(7) 


Normal tax 


Surtax 


Number of 
rot urns 

(8) 


Amount 
(9) 


Number of 
returns 

(10) 


Amount 

(11) 
















$719, 042 


50, 502 


$719, 042 






$14 


3.13 








15, 202, 489 


1,191,970 


15, 202, 489 






13 


.87 








7, 773, 610 


208, 449 


7,773,610 






• 37 


1.68 








5, 973, 356 


208, 057 


5, 973, 356 






29 


1.03 








16,051,432 


498, 523 


16, 051, 432 






32 


.93 








17, 759, 099 


299, 258 


17, 670, 366 


4,690 


$88, 733 


59 


1.33 


16, 165, 364 

14,945,000 

13, 983, 479 

13, 458, 338 

13,031,418 

12, 164, 378 

11, 664, 683 

11,030,647 

10, 401, 730 

10, 042, 678 

42,691,714 

35, 725, 630 

30, 574, 475 

49. 176, 077 

31,709,216 

17, 192, 747 

12,226,371 

10, 127, 966 

7, 623, 755 

5,984,659 

17, 414, 805 

7, 572, 969 

4, 276, 797 

2, 816, 699 

0,471,338 

3, 252, 979 

2, 903, 666 

3, 583, 200 

1, 907, 557 

1, 225, 838 

1, 485, 442 


164, 448 

102, 832 

66.716 

4fj, 205 

34, 462 

25, 896 

20, 563 

16, 548 

13. 463 

11.339 

34, 985 

17,810 

10. 140 

10, 049 

4. 422 

1.649 

857 

541 

319 

202 

398 

97 

39 

20 

33 

12 

7 

6 

2 

1 

1 


15, 574, 146 

13, 599, 307 

11, 370, 192 

9. 698, 598 

8, 559. 650 

7, 422, 592 

6, 687. 595 

6, 005, 356 

5, 392, 376 

4, 987, 345 

19, 098, 098 

13, 330, 156 

9, 629, 985 

13, 062, 482 

7, 172, 084 

3,354,677 

2, 099, 500 

1, 538, 603 

1,034,618 

738, 863 

1, 818, 780 

656, 903 

337, 896 

212, 137 

455. 38S 

216, 408 

180,339 

213, 404 

108, 291 

68, 250 

81, 766 


24, 582 

31,002 

53, 525 

45, 158 

34, 341 

25,917 

20, 573 

16, 559 

13,474 

11, 346 

35, 002 

17,819 

10. 147 

10, 652 

1. 423 

1,649 

857 

544 

319 

202 

398 

97 

39 

20 

33 

12 

7 

6 

2 

1 

1 


591,218 
1, 345, 693 

2, 613, 287 

3, 759, 740 
4, 471, 768 

4, 741, 786 
4, 977, 088 
5,025,291 
5, 009, 3Q0 
5, 055, 333 

23, 593, 616 
22, 389, 474 
20, 944, 490 
36,113,595 

24, 537, 132 
13, 838, 070 
10,126,871 

8, 589, 363 
6, 589, 137 

5, 245, 796 
15, 596, 025 

6,916,066 
3,938,901 
2,604,562 

6, 015, 950 
3. 036, 571 

2, 723, 327 

3, 369, 796 
1, 799, 266 
1, 157, 588 
1, 403, 676 


98 

145 

209 

291 

378 

469 

567 

666 

772 

885 

1,220 

2,005 

3,013 

4,(117 

7,169 

10, 426 

14, 260 

18, 618 

23, 899 

29, 627 

43, 756 

78, 072 

109, 661 

140, 835 

196, 101 

271, 082 

414, 809 

597, 200 

953, 779 

1, 225, 838 

1, 485, 442 


1.80 

2.25 

2.81 

3.43 

3.99 

4.48 

4.94 

5.34 

5.72 

6. 11 

7.10 

9.01 

11.04 

13.47 

16.26 

19.15 

22.10 

24.96 

28.23 

31.23 

37.06 

45.25 

49.50 

52.61 

56.41 

59.77 

63.86 

67.02 

70.30 

71.68 

72.67 












































486, 310, 649 


3, 041, 424 


228, 102, 084 


366, 397 


258, 208, 569 


160 


4.09 


486, 310, 649 


3,041,424 


228, 102. 084 


366, 397 


258, 208, 569 


78 


2.68 
















486, 310, 649 


3, 041, 424 


228, 102, 084 


366 397 i 9S8 ons fifiQ 


(12) 











86 



STATISTICS OF INCOME 



Table 2.— Individual returns and taxable fiduciary returns with net income,'- by net 
income classes, also aggregate for individual returns with no net income (excluding 
fiduciary returns), 1938, by returns with no alternative tax and with alternative 
tax: number of returns, net income, personal exemption, credit for dependents, 
earned income credit, tax, average tax, and effective tax rate — Continued 

PART III— RETURNS WITH ALTERNATIVE TAX » 



Net income 2 classes 
(Thousands of dollars) 



(1) 



Individual returns and tax- 
able fiduciary returns * 
with net income: 

Under 1 (est.) « 

Under 1 (est.) 

1 under 2 (est.) 6 

1 under 2 (est.) 

2 under 2.5 (est.) 6 

2 under 2.5 (est.) 

2.5 under 3 (est.) « 

2.5 under 3 (est.) 

?under4 (est.) 8 

3 under 4 (est.) 

4 under 5 (est.) 6 

4 under 5 (est.) 

5 under 6 6 

5 under 6 

6 under 7 

"under 8 

8 under 9 

9under 10 

lOunder 11 

11 under 12... 

12 under 13 

13 under 14 

14 under 15 . .. 

15 under 20 

20 under 25 _ 

25 under 30 

30 under 40 

40 under 50 

50 under 60... 

60 under 70 

70 under 80 

80 under 90 

90 under 100... 

100 under 150 ;.... 

150 under 200... 

200 under 250 

250 under 300 
300 under 400. . . 
400 under 500... 

500 under 750 . 

750 under 1,000.... 
1,000 under 1,500... 

1,500 under 2,000 

2,000 under 3,000 . 
3,000 under 4,000 . 
4,000 under 5,000. .. 
5,000 and over 



Nontaxable returns 6 . 
Taxable returns 



Total, individual re- 
turns and taxable 
fiduciary returns 

with net income 

Individual taxable returns 
with no net income 8 



Grand total. 



Number 
of returns 
(col. 5+17) 



(2) 



30 

40 

60 

162 

892 

1,294 

918 

600 

522 

354 

928 

323 

190 

97 

109 

53 

74 

31 

28 

15 

5 

1 

1 

3 



6,770 



Net income 2 
(col. 6+18) 



(3) 



$2, 263 
"5.154" 



3,048 
"8," 838" 
"37,957" 



25, 807 
28, 178 
53, 253 
46, 189 
88, 044 
68, 410 



526, 459 

916, 169 

1.641,114 

5, 790, 709 

41, 679, 674 

70,911,667 

59, 392, 283 

44, 844, 018 

44, 247, 573 

33, 535, 281 
111,419,302 

55, 810, 378 
42, 105, 683 
26, 352. 700 
37, 878. 286 
23, 648, 882 
44, 548, 922 
26, 953, 840 

34, 869, 442 
25,915,113 
13, 248, 402 

3, 524, 972 

4, 273, 201 
21,803.582 



776, 204, 793 



776, 204, 793 
» 1,403,649 



0, 796 10 774. 801, 144 



Alternative 
tax (col. 
14+26) 



W 



$8, 027 
33,195 



28,219 
81,279 
16,819 



32, 342 
21, 353 
20, 312 
2,435 
4,969 
66, 902 



180, 304 

165, 550 

277. 488 

1,138,071 

7,718,929 

14, 630, 977 

14. 005, 788 

11,814,504 

12, 833, 760 

10, 548, 722 

40, 809, 376 

23, 319, 368 

19, 367, 480 

12, 390, 603 

18, 569, 814 

11,538,254 

22. 977, 946 

12, 887, 734 

15,246,644 

12, 216, 568 

5,120,590 

2,561,584 

1, 606, 967 

6, 664, 068 



278, 906, 941 



278, 906, 941 
615, 251 



Computation of alternative tax 



Returns with net long-term capital 
gain 



Number 

of returns 



(5) 



Net income 2 



(6) 



133 

429 

352 

255 

241 

164 

474 

193 

104 

57 

65 

43 

45 

26 

26 

14 

4 

1 

1 

3 



2,630 



2. 630 



$6, 378. 243 
23, 649, 579 
22, 779, 100 
19,125.917 
20, 445. 937 
15,576.178 
56, 935, 482 
33, 349. 528 
23, 034. 174 
15, 469, 151 
22, 593, 502 
19, 200, 670 
27, 327, 734 
22, 726, 266 
32, 755, 219 
24, 300, 997 
10, 804, 365 

3, 524, 972 

4, 273, 201 
21, 803, 582 



426, 053, 797 



426, 053, 797 



426, 053. 797 



For footnotes, see p. 91. 



STATISTICS OF INCOME 



i 



Table 2. — Individual returns and taxable fiduciary returns with net income, 1 by net 
income classes, also aggregate for individual returns with no net income (excluding 
fiduciary returns), 19,38, by returns with no alternative tax and with alternativt 
tax: number of returns, net income, personal exemption, credit for dependents, 
earned income credit, tax, average tax, and effective tax rate — Continued 

PART III— RETURNS WITH ALTERNATIVE TAX s— Continued 





Computation of alternative tax— Continued 




Returns with net long-term capital gain — Continued 


Net income - classes 
(Thousands of dollars) 

(1) 


Ordinary 
net income 
(col. 6-7) 
(item 3, Sen. 

F, Form 
1040: item 3, 

Sen. E, 
Form 1041) 

(8) 


Personal 
exemption 3 

(9) 


Credit 
for de- 1 
pendents 
(individ- 
ual re- 
turns) 

(10) 


Earned in- 
some credit 
individual 

returns) 

(11) 


Normal tax 
(item 10, 
Sch. F., 

Form 1040; 
item 8, 
Sch. E, 

Form 1041) 

(12) 


Surtax 
(item 11, 

Sch. F, 
Form 1040: 

item 9. 

Sch. E, 
Form 1041) 

(13) 


Individual returns and taxable 
fiduciary returns - with net 
income: 
Under 1 (est.)« . 














Under 1 (est.) 














1 under 2 (est.) 6 _ 














1 under 2 (est.) 














2 under 2.5 (est.) 6 














2 under 2.5 (est.) 














2.5 under 3 (est.) 6 














2.5 under 3 (est.) __ .. 














3 under 4 (est.) 6 














3 under 4 (est.)-. 














4 under 5 (est.) 6 . . 














4 under 5 (est.) 














S under 6 6 














5 under 6 




























7 under 8.. 














8 under 9 




























10 under 11 














11 under 12 
























































15 under 20 - 














20 under 25 














25 under 30 














30 under 40 














40 under 50 


$6, 222, 640 
22, 338, 793 
20, 422. 974 

15, 899. 524 

16, 576. 490 
12,007,285 
42,153,542 
23,421.008 
14. 777, 347 

9, 490. 991 
13,009,438 
11,214.677 
11,602,611 
10,117,693 
11, 180,129 


$208, 425 

784, 516 

694, 517 

492. 175 

142. sir 

280, 217 

867, 875 

360, 475 

201,425 

109,238 

113,100 

80, 725 

79, 225 

42. 300 

48. 1 75 


$23, 248 

144. 589 

137. 166 

87, 265 

78, 986 

50, 897 

140, 699 

65, 166 

34, 066 

16,699 

12, 867 

11,999 

9,001 

3,567 

7,100 

1,467 

400 


$101,128 

388. 524 

312,193 

230. 044 

208, 120 

134, 851 

405, 477 

163, 747 

92. 495 

55, 141 

43, 887 

42, 734 

29. 570 

15.024 

22, 300 

7,800 

2,000 

860 

1,400 

900 


$232. 022 

833, 431 

764, 063 

597, 220 

629, 960 

456, 272 

1,621.492 

905. 681 

572, 837 

370, 512 

513, 596 

449, 246 

458, 949 

402, 180 

444, 062 

402, 057 

15, 834 

134, 424 

35, 106 

20, 533 


$847, 996 


50 under 60 . 


3, 326, 436 


60 under 70 


3, 433, 360 


70 under 80 


3, 073, 538 


80 under 90 


3, 619, 453 


90 under 100., 


2.914.113 


100 under 150 


12,713.804 


150 under 200. . 


8, 778. 819 


200 under 250 . 
250 under 300.. 


6.040.411 
4,186,118 


300 under 400 


6, 164. 206 


400 under 500 


6,014,528 


500 under 750 


6, 245, 281 


750 under 1,000 


5, 871, 208 


1,000 under 1,500— 


6, 672. 266 


1,500 under 2,000. 
2,000 under 3,000 


10.089,541 1 26,950 

407,099 ! 7,600 

3,362,712 1.250 

880,048 1,000 

488,369 ] 6,000 


6, 400, 682 
165, 662 


3,000 under 4,000.. 


2, 378. 482 


4.000 under 5.000. 




553.915 


5.000 and over .. 


800 


248, 971 




















Taxable returns 


255, 662, 971 


4, 848, 005 


825, 982 


2, 258, 195 


9, 860, 077 


89, 655, 249 


Total, individual returns 

and taxable fiduciary 

returns with net income . 

Individual taxable returns with 


255, 662, 971 


4, 848, 005 


825, 982 


2, 258, 195 


9, 860, 077 


89, 655, 249 
















Grand total.. 


255, 662. 971 


4, 848, 005 


825, 982 


2, 258, 195 9. 860. 077 


89, 655, 249 











For footnotes, see p. 91. 



88 



STATISTICS OF INCOME 



Table 2. — Individual returns and taxable fiduciary returns with net income, 1 by net 
income classes, also aggregate for individual returns with no net income (excluding 
fiduciary returns), 1938, by returns with no alternative tax and with alternative 
tax: number of returns, net income, personal excemption, credit for dependents, 
earned income credit, tax, average tax, and effective tax rate — Continued 



PART III— RETURNS WITH ALTERNATIVE TAX «- 


-Continued 






Computation of alternative tax — Continued 




Returns with net long-term capital 
gain — Continued 


Returns with net long-term capital 
loss 


Net income 2 classes 
(Thousands of dollars) 

(1) 


Alternative 

tax (col. 

12+13+30 

percent of 

col. 7) (item 

14, Sch. F, 

Form 1040; 

item 12, Sch. 

E, Form 1041) 

(14) 


Average 
alterna- 
tive tax 
(col. 14*5) 

(15) 


Effective 
tax rate, 
percent 
(returns 
with net 
income) 
(col. 14-=-6) 

(16) 


Number 
ofreturns 

(17) 


Net income 2 

(18) 


Net long- 
term capital 
loss (item 
10(b), p. 1, 
Form 1040; 
item 7(b), 
p. 1, Form 
1041) 

(19) 


Individual returns and tax- 
able fiduciary returns 2 with 
net income: 














Under 1 (est.) 














1 under 2 (est.) 6 




























2 under 2.5 (est.) 6 














2 under 2.5 (est.) 








1 


$2, 263 


$113, 156 


2.5 under 3 (est.) 6 




















2 


5,154 


285, 872 


3 under 4 (est.) • 


















1 


3,048 


173, 180 




















2 


8,838 


414, 919 




















7 


37, 957 


369, 630 


























8 under 9 








3 

3 

5 
4 

7 
5 


25, 807 
28, 178 
53, 253 
46, 189 
88, 044 
68, 410 


317,493 


9 under 10 








287, 520 










268, 040 


11 under 12 








2,120 


12 under 13 








65, 007 










452, 673 












15 under 20 








30 

40 

60 

162 

759 

865 

566 

345 

281 

190 

454 

130 

86 

40 

44 

10 

29 

5 

2 

1 

1 


526, 459 

916, 169 

1,641,114 

5, 790, 709 

35,301.431 

47, 262, 088 

36,613,183 

25, 718, 101 

23, 801, 636 

17, 959, 103 

54, 483, 820 

22, 460, 850 

19,071,509 

10, 883, 549 

15, 284, 784 

4,448,212 

17,221,188 

4, 227, 574 

2,114,223 

1,614. 116 

2, 444, 037 


1, 645, 57 


20 under 25 








1,464,323 


25 under 30 








1,514,810 


30 under 40 








4, 558. 260 


40 under 50 


$1, 127, 299 

4,553, 103 

4, 904, 261 

4, 638, 676 

5, 410, 247 

4,441,053 

18, 769, 878 

12,663,038 

9, 096, 296 

6, 350, 078 

9, 553, 021 

8, 859, 572 

11,421,767 

10, 055, 960 

13,588,855 

11,060. 176 

3, 300, 676 

2, 561, 584 

1,606,967 

6, 664, 068 


$8, 476 

10, 613 

13, 933 

18, 191 

22, 449 

27, 080 

39, 599 

65,612 

87, 464 

111,405 

146, 970 

206, 037 

253,817 

386, 768 

522, 648 

790,441 

825, 169 

2, 561, 584 

1,606,967 

2,221,356 


17.67 
19.25 
21.53 
24.25 
26.46 
28.51 
32.97 
37.97 
39.49 
41.05 
42.28 
46.14 
41.80 
44.25 
41.49 
45.54 
30.55 
72.67 
37.61 
30.56 


7. 838, 283 


50 under 60 


6, 853, 456 


60 under 70 


5, 357, 950 


70 under 80 


2, 836, 246 


80 under 90 .. 


2,601,153 


90 under 100 


1,699,843 


100 under 150. .. 


4, 943, 647 


150 under 200 _ 


1, 475, 757 


200 under 250... 


2, 142, 270 


250 under 300 


787. 376 


300 under 400... 


1,016,920 


400 under 500 . 


68, 976 


500 under 750... 


1,624,330 


750 under 1,000 


49, 577 


1,000 under 1,500 . 


450, 637 


1,500 under 2,000 ... . 


3 


2,000 under 3,000 


51, 100 


3,000 under 4,000 




4,000 under 5,000 








5,000 and over 






























Taxable returns 


150. 032, 575 


57. 275 


35.36 


4,140 


350, 150, 996 


51,730,100 


Total, individual re- 
turns and taxable 
fiduciary returns with 


150,632,575 


57, 275 


35.36 


4,140 
26 


350. 150, 996 
9 1,403,649 


51,730,100 


Individual taxable returns 
with no net income 8 


6, 768, 474 


Grand total 


150.632.575 


57. 275 


35 36 


4.166 


i" 348. 747. 347 


58, 498, 574 



For footnotes, see p. 91. 



STATISTICS OF INCOME 



89 



Table 2. — Individual returns and taxable fiduciary returns with net income, 1 by net 
income classes, also aggregate for individual returns with no net income (excluding 
fiduciary returns), 1938, by returns with no alternative tax and with alternative 
tax: number of returns, net income, -personal exemption, credit for dependents, 
earned income credit, tax, average tax, and effective tax rate — Continued. 



PART III— RETURNS WITH ALTERNATIVE TAX 5— Continued 






Computation of alternative tax — Continued 




Returns with net long-term capital loss — Continued 


Net income 2 classes 
(Thousands of dollars) 

!(D 


Ordinary net 

income (col. 

18+19) (item 
3, Sch. F, 
Form 1040; 

item 3, Sch. 
E, Form 1041) 

(20) 


Personal 
exemp- 
tion 3 

(21) 


Credit for 
depend- 
ents (in- 
dividual 
returns) 

(22) 


Earned 
income 
credit 
(indi- 
vidual 
returns) 

(23) 


Normal tax 
(item 10, 
Sch. F, 

Form 1040; 
item 8, 
Sch. E, 

Form 1041) 

(24) 


Surtax 
(item 11, 

Sch. F, 
Form 1040; 

item 9, 

Sch. E, 
Form 1041) 

(25) 


Individual returns and taxable 
fiduciary returns 2 with net 
income: 




























1 under 2 (est.) 6 




























2 under 2.5 (est.) • 














2 under 2.5 (est.) 


$115,419 


$2, 500 




$226 


$4, 480 


$37, 494 


2.5 under 3 (est.) « 




2.5 under 3 (est.) 


291, 026 


3,500 




515 


11, 179 


107, 778 


3 under4 (est.) 6 






176,228 


2, 500 




300 


6,936 


73, 237 








423, 757 


3,500 




600 


14, 764 


190,990 


5 under 6 6 




407, 587 


14, 500 


$1, 367 


2,332 


15 457 


112,251 


















8 under 9 


343, 300 
315,698 
321,293 
48, 309 
153, 051 
521, 083 


3,500 

6. 000 
8,000 
7,500 
11,000 
8,500 




1,439 
1.249 
2,170 
3,750 
5,443 
5,241 


13, 535 
12, 028 
12,311 
1,491 
5, 403 
20, 371 


114,055 
95, 581 
88,413 


9under 10 


800 
1,267 

400 
1,533 

600 


10 under 11 


11 under 12 


12 under 13 




13 under 14 


182, 333 




15 under 20 


2,172,032 

2, 380, 492 

3, 155, 924 
10, 348, 969 
43, 139, 714 
54, 115, 544 
41,971,133 
28, 554, 347 
26, 402, 789 
19 658, 946 
59, 427, 467 
23, 936, 607 
21, 213, 779 
11,670,925 
16, 301, 704 

4, 517, 188 
18, 845, 518 

4, 277, 151 
2, 564, 860 
1,614,119 
2, 495, 137 


52, 550 

73. 695 

118, 125 

317, 971 

1,408,416 

1,761,662 

1,123,009 

702, 788 

557, 153 

369, 875 

883, 508 

260, 950 

158, 200 

76, 900 

84, 700 

14, 700 

59, 225 

9,500 

5,000 

2,500 

2,500 


8,718 

11,867 

20, 267 

44,417 

253, 990 

303, 952 

203, 986 

122, 301 

99,865 

62, 931 

132, 520 

34, 532 

18,067 

20, 267 

8,634 

2,467 

7,133 

800 


21,077 

36, 702 

49, 200 

143,612 

696, 855 

850, 371 

596, 604 

362, 605 

291, 358 

193, 717 

451,468 

129, 489 

70, 465 

33, 300 

38, 870 

6,451 

18, 000 

4.800 

2,800 

300 

300 


82, 704 

89, 871 

118,048 

391, 126 

1,619,901 

2,031,892 

1, 578, 832 
1,091,895 
1,010,919 

759, 703 

2, 306, 314 
932, 060 
836, 139 
460,411 
640, 097 
179,359 
749, 844 
169.512 
102, 283 

64, 373 
99, 693 




20 under 25 




25 under 30 


613, 883 


30 under 40 


40 under 50 


7, 323, 214 
10, 102, 019 
9, 130. (ISO 

6, 934, 807 

7, 192, 940 
5, 857, 919 


50 under 60 


60 under 70 


70 under 80 


80 under 90 . 


90under 100 


100 under 150 . 


150 under 200 


10, 166, 997 
10, 077, 726 
5, 816, 327 
8, 681, 772 
2, 520, 016 


200 under 250 


250 under 300 


300 under 400. . 


400 under 500. _. 


500 under 750... 


750 under 1,000 


2, 677, 135 
1,690,697 
1, 086, 020 
1, 735, 551 


1.000 under 1,500 


1,500 under 2,000 


2,000 


2,000 under 3,000 


3,000 under 4,000 




4,000 under 5,000 














5,000 and over 




























Nontaxable returns 6 
















401,881,096 


8,113,927 


1, 364, 68i 


4, 021, 609 


15, 432, 931 


128, 360, 466 




Total individual returns 
and taxable fiduciary 
returns with net in- 


401, 881, 096 
5, 364, 825 


8, 113, 927 

49. 


1, 364, 681 
6,400 


4, 021, 609 

14, 848 


15, 432, 931 
211,468 


128, 360, 466 
2. 434, 324 


Individual taxable returns with 




Grand total 


407, 245, 921 


8, 162, 927 


1,371,081 


4, 036, 457 


15, 644, 399 


130, 794. 790 



For footnotes, see p. 91. 



90 



STATISTICS OF INCOME 



Table 2. — Individual returns and taxable fiduciary returns with net income, 1 by net 
income classes, also aggregate for individual returns with no net income (excluding 
fiduciary returns), 1938, by returns with no alternative tax and with alternative 
tax: number of returns, net income, personal exemption, credit for dependents 
earned income credit, tax, average tax, and effective tax rate — Continued 

PART III— RETURN'S WITH ALTERNATIVE TAX 5— Continued 





Computation of alternal ive tax— Con. 


Average 

alternative 

tax (col. 

4-2) 

(29) 






Returns with net lone-term capital 
loss — Continued 


Effective 


Net income 2 classes 
(Thousands of doll ars) 

(1) 


Alternative 
tax (col. 24+ 

25-30 per- 
cent of col. 19) 
(item 14, Sen. 
F, Forn-. 1040; 
item 12, Sch. 
E. Form 1041) 

(26) 


A eerage 

alternative 

tax (col. 

26 -Hi 7) 

(27) 


Effective 
tax rate, 
percent 
(returns 
with net 
income) 
(col. 26-H18) 

(28) 


tax rate, 

percent 
(returns 
with net 
income) 
(col. 4-H3) 

(30) 


Individual returns and taxable fiduciary 
returns 2 with net income: 












Under 1 (est.) 




































2 under 2.5 (est.) 6 














$8, 027 


$8, 027 


354. 71 


$8. 027 


351. 71 


2.5 under 3 (i 






33, 195 


16, 598 


644. 06 


16, 598 


644 06 


3 under 4 (est.) 6 




3 under 4 (est.) 


28,219 


28,219 


925. 82 


28, 219 


925. 82 




81.279 


40,64(1 


919. 65 


40. 640 


919. 65 








16,819 


2, m 


44.31 


2, 403 


41.31 




















21,353 

20,312 

2, 135 

4. 969 
66,902 


10,781 

7, 118 

t,062 

609 

710 
13, 380 


125.32 

75. 78 

38.14 

5.27 

5. 64 

97.80 


10, 781 
7, IIS 
1,062 

60!) 

710 

13,380 


1 25. 32 




75. 78 


10 under 11 


38. 14 


11 under 12. _ 


5. 27 


12 under 13 


5. 61 


13 under 1 1 


97.80 






15 under 20. .. 


180,304 

165,550 

277. 188 

1. 138,071 

6,591.630 

10, 077, 874 

9, 101, 527 

7, 175, 828 

7,423,513 

6. 107, 669 

22, 039, 498 

10, 656, 330 

10,271.184 

0. 040, 525 

9,016. 793 

2, 678, 682 

11,556,179 

2,831.774 

1,657,789 

1. 150, 392 

1,819,914 


6,010 
I. 139 
1. 625 
7.025 
8,685 
11.651 

16, (ISO 

20, 800 

26,418 

32, 146 

48. 545 

81,1(72 

119,432 

151,013 

204.927 

267, 868 

398, 489 

566, 355 

828,895 

1, 150, 392 

1,819,914 


34. 25 
18.07 


6,010 
4 139 


34. 25 


20 under 25 


18.07 


25 under 30 


16.91 4.625 


16.91 


30 under 40 


19. 65 
18.67 
21.32 
24. Mi 
27.90 
31.19 
34.01 
40.45 
47.44 
53. 86 
55. 50 
58. 99 
60.22 
67. 10 
66. OS 

78.41 
71.27 
74. 46 


7,025 

8,654 

11,307 

15,257 

10.691 

24, 586 

29, 70!) 

43, 976 

72. 106 

101.934 

127. 738 

170. 365 

217.703 

310.513 

115.733 

544. 523 

814. 438 

1,024. 118 

2.561.584 

1, 606. '.167 

2,221.356 


19. 65 


40 under 50... 


18. 52 


50 under 60 


20 63 


60 under 70... 


23. 58 


70 under 80 . 


26. 35 


80 under 90 


29. 00 


90 under 100.. 


31. 46 


100 under 150 


36.63 


150 under 21 in 
200 under 250 . 
250 under 300 . 


11. 7s 
16.00 
47.02 


300 under 400... 


49.02 


400 under 500... 


48.79 


500 under 750 
750 under 1,000 


51.58 
47.81 


1,500 under 2,000 


43. 72 

17. 1 i 


2,000 under 3,000 
3.000 under 1000 


38. 65 

72 67 


1,000 under 5.000 








37. 61 










30. 56 


























128,274,366 


30, 984 


36.63 


41, 197 


35.93 


Total individual returns and 
taxable fiduciary returns with 
net income 
Individual taxable returns with no net 


128,274,366 

615, 251 


30, 984 
23. 664 


36.63 


41,197 
23, 664 


35.93 








128,889,617 30,938 




41, 130 











For footnotes, see p. 91. 



STATISTICS OF INCOME 91 

Footnotes for table 2 

1 This table contains data for individual returns with net income and with no net income shown in basic 
table 2-A and data for taxable fiduciary returns with net income shown in basic table 10. Unlike basic 
table 2 in the Statistics of Income for 1937, Part 1 (pp. 117-118), this table excludes nontaxable returns with 
net income for estates and trusts filed incorrectly on Form 1040 instead of Form 1041. For 1937, these in- 
correctly filed nontaxable returns with net income, which numbered 3,784, were tabulated as individual 
returns; but for 1938, these returns, which number only 276, are tabulated in basic table 10 in this report 
as fiduciary returns. 

2 For taxable fiduciary returns the net income used for classification and tabulation is the net income 
taxable to the fiduciary (item 17 on p. 1, Form 1041, facsimile on p. 298). 

3 On fiduciary returns an estate is allowed the personal exemption of $1,000 allowed a single person and a 
trust is allowed, in lieu of the personal exemption, a credit of $100 against net income. 

* Consists of (1) returns with no net long-term capital gain or loss and (2) returns with net long-term capital 
gain or loss which have no alternative tax. 

5 The alternative tax is imposed on returns with net long-term capital gain if such alternative tax is less 
than the sum of the normal tax and surtax computed on net income including net long-term capital gain. 
The alternative tax is imposed on returns with net long-term capital loss if such alternative tax is greater 
than the sum of the normal tax and surtax computed on net income after deducting net long-term capital 
loss. 

6 Nontaxable individual returns. Exemptions from normal tax and surtax exceed net income. A negli- 
gible number of nontaxable individual returns in net income classes of $6,000 and over is not tabulated 
separately. 

1 1ncludes returns with zero net income (total income equals total deductions). 

8 Returns with net long-term capital loss on which the tax, computed on net income before the deduction 
of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 
» Deficit. 

i° Net income less deficit. 
" Not available. 
> J Average total tax not computed. 



299429—41- 



92 



STATISTICS OF INCOME 



Table 2-A. — Individual returns l with net income (excluding fiduciary returns), by 
fiduciary returns), 1938, by returns with no alternative tax and with alternative 
earned income credit, tax, average tax, and effective tax rate 

[For text defining certain items and describing methods 

PART I— ALL 



Net income classes 
(Thousands of dollars) 

(1) 



Returns with net income: 

Under 1 (est.) 4 

Under 1 (est.) 

1 under 2 (est.) 4 

1 under 2 (est.) 

2 under 2.5 (est.) 4 

2 under 2.5 (est.) 

2.5 under 3 (est.) 4 

2.5 under 3 (est.) 

3 under 4 (est.) 4 

3 under 4 (est.) 

4 under 5 (est.) 4 

4 under 5 (est.) 

5under6 4 

5 under 6 

6 under 7 

7under8 

8under9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15under20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250_ 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 

4,000 under 5,000.. 

5,000 and over 

Nontaxable returns * 
Taxable returns 

Total, individual 
returns with net 
income 

Returns with no net in- 
conic: 
Nontaxable 5 

Taxable 6 

Total, individual re- 
turns with lid net 
income 



Number 
of 

returns 



(2) 



339, 369 

27, 222 

1,241,979 

1,181,299 

466, 146 

205, 450 

732, 327 

205, 960 

356, 083 

495,613 

18, 542 

297, 241 

666 

162,978 

101, 823 

65, 960 

45, 575 

33, 929 
25, 458 
20, 251 
16,266 
13.235 
11,095 

34, 247 
1 7, 388 

9,868 

10, 457 

5, 105 

2,809 

1,697 

1,112 

800 

526 

1,249 

395 

219 

103 

124 

58 

71 

31 

27 

14 

4 

1 

1 

3 



Net income 



(3) 



3,155,112 
2, 995, 664 



6,150,776 



1110,2117 
26 



'i'". ■.'":; 



Grand total .. 6,251,009 



$236,843,136 

13, 896, 261 

1, 686, 272, 556 

1,728,604,434 

1,060,877,022 

454, 900, 713 

1, 986, 296, 997 

576, 993, 286 

1, 172, 918, 195 

1,723,060,912 

79,075,079 

1,322,947,014 

3. 553, 832 

889, 763, 586 

657, 877, 449 

492, 287, 834 

386, 388, 754 

321,550,943 

266,761,612 

2.32, . r :(>7, I 'ii 

202. 9S6, 079 

178, 534, 829 

160,702,492 

588,056. 167 

386,936,217 

269,467,718 

358, 598, 886 

227, 370, 635 

153,281,985 

109. 51 

83,032,219 

67, 747. 331 

49,853,35/ 

149,052,084 

68, 055, 899 

48, 536. 006 

27,861,894 

42,957,843 

26, 073, 525 

43, 412, 282 

27. 177. I'M 1 

33, 592, 338 

24,189,917 

10, 284, 547 

3, 524, 972 

4, 273, 201 
21,803,5S2 



6,225,836,817 
12,435,092,369 



18,660,929, 186 



Personal ex- 
emption 



W 



$510, 

2,209, 

1, 168, 

1, 153, 

208, 

1,829, 

366, 

890, 

1,084, 

46, 

659, 

1. 

358, 

226, 

142, 

97, 

72, 

53, 

42, 

34, 

27, 

23, 

71, 

35. 

20, 

21, 

10, 

5, 

3. 

2, 

1. 

1, 

2, 



498, 530 
985, 539 
848, 217 
191,890 
778. 851 
366, 555 
236, 704 
301,991 
340, 140 
896, 675 
322, 006 
491,941 
652. 854 
338, 599 
026, 204 
484,630 
523, 442 
013, 422 
932, 288 
393,049 
108,744 
748, 639 
231.674 
266. 986 
770, 800 
129,703 
208, 476 
265, 500 
647. 886 
400,150 
233, 496 
597, 333 
011,717 
460.308 
782, 084 
423, 540 
211,688 
241,. r :lH) 
113,875 
148, 625 
56, 000 
56, 625 
31,750 
10. 000 
1,250 
1,000 
6, CC0 



Oedit for 
dependents 



(5) 



$33, 985, 808 

159, 780 

241, 953, 090 

15,198.712 

121.461.47,1 

10, 593, 999 

310, 586, 567 

7,014,919 

309, 026, 377 

82, 520, 162 

30, 160, 240 

107,172,845 

1.558.667 

73, 398, 038 

45, 159, 910 

29,974,451 

20, 300, 352 

14,781.138 

10, 887, 797 

8, 656, 436 

7,030,816 

5,671,524 

4,763,019 

14. 625, 462 

7,158,342 

4, 100, 621 

4,211,049 

2,017,714 

1,112,891 

691,529 

131.272 

307, 177 

ISO. 47(1 

423, 198 

123.265 

67, 933 

38, 233 

27, 501 

15,632 

18, 967 

4,367 

8,300 

3, 467 

400 



800 



6,641,677,302 
4,743, 111,574 



11,384,788,876 



: 352, 752. 145 
' 1.403,649 



'354, 155,794 



8 18, 306, 77:!. 392 



( 9 ) 



49.000 



1,048,735,200 
478, 858, 488 



1,527,593,1 



( 9 ) 



6,400 



(») 



( s ) 



(") 



( 8 ) 



Earned in- 
come credit 



(6) 



$11,401,309 

1,389,626 

122, 100, 520 

172, 860, 443 

62, 555, 613 

45, 490, 071 

156,178,662 

57, 699, 328 

94, 560, 532 

160,266,072 

6, 253, 174 

119,265,314 

245, 705 

76, 256, 344 

56,661,114 

38, 466, £64 

31,067,738 

23,514,190 

18, 931, 150 

16,053,410 

13,714,220 

11,970,803 

10, 379, 888 

32. 127. 832 

16, 762, 319 

9.6S9, 130 

10, 345, 326 

5,128,511 

2, 854, 532 

1,740,847 

1,142, 198 

808, 942 

7,17.792 

1, 228, 348 

379,136 

200, 101 

102, 661 

108,157 

55,285 

51, 182 

23. 224 

26, 407 

9,500 

2,300 

860 

1,400 

900 



453,295,515 
937. 593, 865 



1,390,889,380 



For footnotes, see p. 101. 



STATISTICS OF INCOME 



93 



net income classes, also aggregate for individual returns with no net income (excluding 
lax: number of returns, net income, personal exemption, credit for dependents, 



of tabulating and estimating data, see pp. 1-6 and 14-15] 
RETURNS 



Tax 


Average 
total tax 
(col. 7^-2) 

(12) 


Effective 
tax rate, 


Total tax (col. 
8+11) 

(7) 


Returns with no alternative tax 2 


Returns with 

alternative 

tax 3 

(11) 


percent 
(returns 
with net 


Total (col. 
9+10) 

(8) 


Normal tax 

(9) 


Surtax 
(10) 


income) 
(col. 74-31 

(13) 
















$444, 713 


$444, 713 


$444, 713 






$16 


3.20 






14, 834, 983 


14, 834, 983 


14, 834, 983 






13 


.86 






7, 585, 777 


7, 577, 750 


7, 577, 750 




$8, 027 


37 


1.67 




5, 828, 434 


5, 795, 239 


5, 795, 239 




33, 195 


28 


1 01 






15, 746, 316 


15, 718, 097 


15, 718, 097 




28, 219 


32 


91 






17, 510, 343 


17, 429, 064 


17, 356, 461 


$72, 603 


81, 279 


59 


1.32 


15, 837, 305 
14, 589, 806 
13,668,109 
13, 173, 777 

12, 722, 903 
11,861,734 
11,405,950 
10, 761, 977 
10.218,299 

9, 750, 715 
41.680,815 
34,756,4S0 
29, 689, 323 
48,454,013 
37, 772, 697 
30, 284, 681 
25, 024, 318 
21,310,484 
19,421,852 
15, 664, 294 
54, 872, 431 
29, 121, 566 
22, 720. 083 

13, 399, 897 
21,805,563 
13, 120, 247 
23, 309, 073 

14, 342, 882 
15, 958, 166 
12, 405, 568 

4, 231, 420 
2, 561, 584 
1, 606, 967 
6, 664, 068 


15, 820, 486 

14, 589, 806 
13, 66S, 109 
13,141,435 
12,701,550 
11,841,422 
11,403,515 
10,757,008 
10.151,397 

9, 750, 715 
41,500,511 
34, 590, 930 
29,411,835 
47,315,942 
30, 133, 569 
15, 804, 899 
11,282,910 

9. 634. 068 
7, 052, 303 
5. 521, 307 

15, 897, 396 
6, 791, 797 
4,057,191 
2, 400, 790 

5. 003. 069 
2, 473, 431 
2,111,677 
2, 518, 565 
1, 907, 557 
1, 225, 838 


15, 285, 391 

13, 336, 010 

11,155,317 

9,497,621 

8, 363, 477 

7, 240, 335 

6, 546, 782 

5, 864, 587 

5,268,411 

4, 848, 100 

18 t 585, 551 

12, 928, 685 

9, 280, 188 

12, 583, 025 

6, 820, 683 

3, 091, 842 

1, 941, 665 

1,464,454 

957,415 

6S2, 072 

1, 661, 586 

590, 688 

320, 344 

180, 614 

353, 087 

164, 101 

130, 610 

149. 055 

108, 291 

68, 250 


535, 095 
1.253,796 
2,512,792 

3, 643, 814 

4, 338, 073 
4,601.087 
4,856,733 
4,892.421 
i, 882, 986 
4, 90-2, 615 

22, 914, 960 
21, 662, 245 
20,131,647 
34, 732, 917 

23, 312, 886 
12, 713, 057 

9, 341. 245 
8, 169, 614 
6, 094, 888 
4, 839, 235 
14, 235, 810 
6,201,109 
3, 736, 847 
2, 220, 176 
4, 649, 982 
2, 309, 330 
1, 981, 067 
2,369,510 
1, 799, 266 
1, 157, 588 


16, 819 


97 

143 

207 

289 

375 

466 

563 

662 

772 

879 

1,217 

1,999 

3,009 

4,634 

7,399 

10, 781 

14,746 

19, 164 

24, 277 

29, 780 

43, 933 

73, 725 

103, 745 

130, 096 

175, 851 

226,211 

328, 297 

462, 674 

591,043 

886, 112 

1, 057, 855 

2, 561, 584 

1, 606, 967 

2, 221, 356 


1.78 
2 22 




2 78 


32, 342 
21, 353 
20, 312 
2,435 
4,969 
66, 902 


3.41 
3.96 
4.45 
4.91 
5.30 
5.72 
6 07 


180, 304 

165, 550 

277, 488 

1,138,071 

7, 639, 128 

14, 479, 782 

13,741,408 

11, 676, 416 

12, 369, 549 

10, 142, 987 

38, 975, 035 

22, 329, 769 

18, 662, 892 

10, 999, 107 

16, 802, 494 

10,646,816 

21, 197, 396 

11,824,317 

14, 050, 609 

11,179,730 

4,231,420 

2, 561, 584 

1, 606, 967 

6, 664, 068 


7.09 
8.98 
11.02 
13.51 
16.61 
19.76 
22. 83 
25.67 
28.67 
31.42 
36.81 
42.79 
46.81 
48.09 
50.76 
50.32 
53. 69 
52. 77 
47.51 
51.28 
41 14 








72 67 








37 61 








30 56 






















726, 119, 613 
726,119,613 


462, 260, 874 


221, 195, 480 


241, 065, 394 
241, 065, 394 


263, 858, 739 


242 


5.84 


462, 260, 874 


221, 195, 480 


263, 858, 739 


118 


3.89 














615, 251 








615, 251 


23, 664 












615, 251 








615, 251 


(ID) 












726,734,864 1 462,260,874 


221, 195, 480 


241, 065, 394 


264, 473, 990 


(10) 







94 



STATISTICS OF INCOME 



Table 2-A. — Individual returns 1 with net income {excluding fiduciary returns), by 
fiduciary returns), 1938, by returns with no alternative tax and with alternative 
earned income credit, tax, average tax, and effective tax rate — Continued 



PART II— RETURNS WITH 



Net income classes 
(Thousands of dollars) 

(1) 



Returns with net income: 

Under 1 (est.) * 

Under 1 (est.) 

1 under 2 rest.) < 

1 under 2 (est.) 

2 under 2.5 (est.) « 

2 under 2.5 (est.) 

2.5 under 3 (est.) « 

2.5 under 3 (est.) 

3 under 4 (est.) * 

3 under 4 (est.) 

4 under 5 (est.) * 

4 under 5 (est.) 

5 under 6 4 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25. 

25 under 30 

30 under 40 

40 under 50__. 

50 under 60 

60 under 70__. 

70 under 80 

80 under 90.. 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 

4,000 under 5,000 

5,000 and over 



Nontaxable returns 4 _ 
Taxable returns 



Total individual re- 
turns with net in- 
come 

Nontaxable individual re- 
turns with no net income s. 

Grand total. 



Number 

of 
returns 



(2) 



339, 369 

27, 222 

241,979 

181, 299 

466, 146 

205, 449 

732, 327 

205, 958 

356, 083 

495, 612 

18, 542 

297, 239 

666 

162, 971 

101, 823 

65, 960 

45, 572 

33, 926 
25, 453 
20, 247 
16, 259 
13, 230 
11,095 

34, 217 
17,348 

9,808 

10, 295 

4,222 

1,528 

796 

519 

296 

187 

365 



3,155,112 
2, 989, 085 



6, 144, 197 
100, 207 



6, 244, 404 



Net income 



(3) 



$236, 843, 136 

13, 896, 261 

1, 686, 272, 556 

1, 728, 604, 434 

1, 060, 877, 022 

454, 898, 450 

1, 9S6, 296, 997 

576, 988, 132 

1,172,918,195 

1, 723, 657, 864 

79, 075, 079 

1, 322, 938, 176 

3, 553, 832 
889, 725, 629 
657, 877. 449 
492, 287, 834 
386, 362, 947 
321, 522, 765 

266, 708, 359 
232,461,251 
202, 898, 035 
178,466,419 
160, 702. 492 
587, 529, 708 
386, 020, 048 

267, 826. 604 
352, 808, 177 
186,112,288 

83, 073, 623 
51,309,873 
38, 703, 723 
25, 063, 561 
17, 734. 980 
43, 035, 966 
15,070,154 
8, 198, 929 

4, 562, 664 
8,911,041 
4,131,668 
3, 301, 948 
3, 735, 374 
2, 713, 532 
1, 710, 156 



6, 225, 836, 817 
11,701,550,514 



Personal 
exemption 



(4) 



$510, 

2, 209. 
1, 168. 
1, 153, 

208, 
1,829 

366, 



l.< 



46, 

659, 

1, 

358, 

226, 

142, 

97, 

72, 

53, 

42, 

34, 

27, 

23, 

71, 

35. 

20 

20 

8. 

3 

1 

1 



498, 530 
985, 539 
848, 217 
191,890 
778, 851 
364, 055 
230, 704 
298,491 
340, 140 
894, 175 
322. 006 
488, 441 
652, 854 
324, 099 
026, 204 
484, 630 
519, 942 
007, 422 
924, 288 
385. 549 
097, 744 
740, 139 
231,674 
214, 436 
697, 105 
011,578 
890, 505 
650, 459 
107, 508 
589, 724 
041.933 
601, 863 
363, 125 
721,425 
164, 959 
67,415 
30, 250 
47, 500 
19, 750 
11,875 
5, 500. 
3, 750 
2,500 



6,641,677,302 
4, 730, 207, 442 



17,927,387,331 
» 352, 752, 145 



s 17, 574, 635, 186 



11,371,884,744 



m 



Credit for 
dependents 



(5) 



$33, 985, 808 

159, 780 

241,953,090 

15, 198, 712 

121,464,451 

10, 593, 999 

310, 586, 567 

7,014,919 

309, 026, 377 

82, 520, 162 

30, 160, 240 

107, 172, 845 

1, 558, 667 

73.396,671 

45, 159, 910 

29, 974, 451 

20, 300, 352 

14, 780. 338 

10, 886, 530 

8, 656, 036 

7, 029. 283 

5, 670. 924 

4, 763, 019 

14, 616, 744 

7, 146, 475 

4, 080, 354 

4, 166, 632 

1, 740, 476 

664, 350 

350, 377 

221,706 

128, 326 

72. 642 

149, 979 

23, 567 

15, 800 

1,267 

6,000 

1,166 

2,833 



1,200 



1, 048, 735, 200 
476, 667, 825 



1, 525, 403, 025 
(») 



( B ) 



Earned 
income 
credit 



(6) 



$11,401,309 

1,389,626 

122, 100, 520 

172, 860, 443 

62, 555, 613 

45, 489, 845 

156, 178, 662 

57, 698, 813 

94, 560. 532 

160. 265, 772 

6, 253, 174 

119,264,714 

245, 705 

76, 254, 012 

56,661. 114 

38, 466, 964 

31,066,299 

23, 512, 941 

18, 928, 9S0 

16, 049. 660 

13. 708, 777 

11,965,562 

10, 379, 888 

32, 406, 755 

16, 725, 617 

9, 640, 230 

10,201,714 

4, 330, 528 

1,615,637 

832, 050 

549, 549 

309, 464 

189, 224 

371,403 

85, 900 

37, 141 

14,220 

25, 400 

6,100 

3.612 

3,400 

1,307 

1.400 



453, 295, 515 
931,314,061 



1, 384, 609, 576 



For footnotes, see p. 101. 



STATISTICS OF INCOME 



95 



net income classes, also aggregate for individual returns with no net income (excluding 
tax: number of returns, net income, personal exemption, credit for dependents, 



NO ALTERNATIVE TAX « 



Tax 


Average 
total tax 
(col. 74-2) 

(12) 


Effective 


Total tax 

liability 

(col. 9+11) 

(7) 


Normal tax 


Surtax 


tax rate, 
percent 
(returns 


Number of 
returns 

(8) 


Amount 

(9) 


Number of 
returns 

(10) 


Amount 

(11) 


with net 
income) 
(col 7*3) 

(13) 
















$444, 713 


27, 222 


$444, 713 






$16 


3.20 








14,834,983 


1, 181, 299 


14, 834, 983 






13 


.86 








7, 577, 750 


205, 449 


7, 577, 750 






37 


1.67 








5, 795, 239 


205, 958 


5, 795, 239 






28 


1.00 








15, 718, 097 


495, 612 


15, 718, 097 






32 


.91 








17, 429, 064 


297, 239 


17, 356, 461 


3,761 


$72, 603 


59 


1.32 


15, 820, 486 
14, 589, 806 
13, 668, 109 
13,141,435 
12, 701, 550 
11, 841, 422 
11, 403, 515 

10, 757, 008 
10, 151, 397 

9, 750, 715 
41,500,511 
34, 590, 930 
29,411,835 
47, 315, 942 
30, 133, 569 
15, 804, 899 

11, 282, 910 

9. 634. 068 
7, 052, 303 

5, 521, 307 
15, 897, 396 

6, 791, 797 
4, 057, 191 
2, 400, 790 

5. 003. 069 
2,473,431 
2,111,677 
2, 518, 565 
1, 907, 557 
1, 225, 838 


162, 932 
101, 705 
65, 920 
45, 554 

33, 903 
25, 432 
20, 238 
16, 248 
13, 220 
11, 088 

34, 205 
17, 339 

9,806 

10, 294 

4,222 

1,528 

796 

519 

296 

187 

365 

88 

37 

17 

26 

9 

5 

4 

2 

1 


15, 285, 391 

13, 336, 010 

11,155,317 

9, 497, 621 

8, 363, 477 

7, 240, 335 

6, 546, 782 

5, 864, 587 

5,268,411 

4, 848, 100 

18, 585, 551 

12, 928, 685 

9, 280, 188 

12, 583, 025 

6, 820, 683 

3, 091, 842 

1,941,665 

1, 464, 454 

957, 415 

682, 072 

1, 661, 586 

590, 688 

320, 344 

180, 614 

353, 087 

164, 101 

130,610 

149, 055 

108, 291 

68. 250 


23, 076 

32, 869 

52, 727 

44, 507 

33, 782 

25, 453 

20, 247 

16, 259 

13, 230 

11,095 

34, 217 

17, 348 

9,808 

10, 295 

4,222 

1,528 

796 

519 

296 

187 

365 

88 

37 

17 

26 

9 

5 

4 

2 

1 


535, 095 

1, 253, 796 

2, 512, 792 

3, 643, 814 

4, 338, 073 

4, 601, 087 

4, 856, 733 

4, 892, 421 

4, 882 986 

4, 902, 615 

22, 914, 960 

21, 662, 245 

20,131,647 

34, 732, 917 

23, 312, 886 

12, 713, 057 

9, 341, 245 

8, 169, 614 

6, 094, 888 

4, 839, 235 

14,235,810 

6, 201, 109 

3, 736, 847 

2, 220, 176 

4, 649, 982 

2, 309, 330 

1, 981, 067 

2, 369, 510 

1, 799, 266 

1, 157, 588 


97 
143 

207 

288 

374 

465 

563 

662 

767 

879 

1,213 

1,994 

2,999 

4,596 

7,137 

10, 344 

14, 175 

18, 563 

23,825 

29, 526 

43, 555 

77, 180 

109, 654 

141, 223 

192, 426 

274, 826 

422, 335 

629, 641 

953, 779 

1, 225, 838 


1.78 

2.22 

2.78 

3.40 

3.95 

4.44 

4.91 

5.30 

5.69 

6.07 

7.06 

8.96 

10.98 

13.41 

16.19 

19.03 

21.99 

24.89 

28.14 

31.13 

36.94 

45.07 

49.48 

52.62 

56.14 

59,87 

63.95 

67.42 

70.30 

71.68 








































































462, 260, 874 


2, 988, 765 


221, 195, 480 


356, 776 


241, 065, 394 


155 


3.95 


462, 260, 874 


2, 988, 765 


221, 195, 480 


356,776 


241, 065, 394 


75 


2.5» 
















462, 260, 874 


2, 988, 765 


221, 195, 480 


356, 776 


241, 065, 394 


(10) 







96 



STATISTICS OF INCOME 



Table 2-A. — Individual returns 1 with net income (excluding fiduciary returns), 
by net income classes, also aggregate jor individual returns with no net income 
{excluding fiduciary returns), 1988, by returns with no alternative tax and ivith 
alternative tax: number of returns, net income, personal exemption, credit for 
dependents, earned income credit, tax, average tax, and effective tax rate — Continued 

PART III— RETURNS WITH ALTERNATIVE TAX 3 





Number 

of returns 

(col. 

5+17) 

(2) 


Net income 
(col. 6+18) 

(3) 


Alternative 
tax (col. 
14+26) 

(4) 


Computation of alternative tax 




Returns with net long-term capital 
gain 


Net income classes 
(Thousands of dollars) 

(1) 


Number 

of 
returns 

(5) 


Net income 

(item 20, 

p. 1, Form 

1010) 

(6) 


Net long- 
term 
capital 
gain (item 
10(b), p. 1, 
Form 
1040) 

(7) 


Returns with net income: 
Under 1 (est.) 4 














Under 1 (est.) 










































2 under 2.5 (est.) 4 . 
















1 


$2,263 


$8, 027 








2.5 under 3 (est.) 4 .. 








2 5 under 3 (est.) .. 


2 


5,154 






















1 


3,048 


28, 219 


















2 


8,838 


81, 279 


















7 


37, 957 


16, 819 
































3 
3 

5 
4 
7 
5 


25, 807 
28, 178 
53, 253 
46, 189 
88, 044 
68, 410 


32, 342 
21, 353 
20, 312 
2,435 
4,969 
66, 902 
























11 under 12 
































15under20_ 


30 

40 

60 

162 

883 

1, 281 

901 

593 

504 

339 

884 

307 

182 

86 

98 

49 

66 

27 

25 

13 

4 

1 

1 

3 


526, 459 

916, 169 

1,641,114 

5, 790, 709 

41, 258, 347 


180, 304 

165, 550 

277, 488 

1,138,071 

7.639.128 








20 under 25 








25 under 30.. 








30 under 40 








40 under 50 


129 
424 
345 
252 

229 

150 

441 

179 

99 

52 

57 

!41 

38 

22 

23 

12 

3 

1 

1 

3 


$6, 185, 756 
23, 376, 934 

22, 314, 901 
18,911,092 
19, 404, 724 
14, 250, 453 
52, 967, 898 
30, 856, 641 
21, 963, 182 
14,116,030 
19, 730, 503 
18, 358, 017 

23, 526, 850 
1", 214, 734 
28, 764, 583 

20, 865, 645 
7, 840, 510 

3, 524, 972 

4, 273, 201 

21, 803, 582 


$151, 973 


50under60. 


70, 208, 362 14. 479. 782 


1, 298. 433 


60 under 70.. 


58, 278, 571 
44, 328, 496 
42, 683, 770 
32,118,377 
106, 016, 118 
52, 985, 745 
40, 3:sr, 077 
23, 299, 230 
34, 046, 802 
21,941,857 
40,110,334 
23, 442, 308 
30, 878, 806 
22, 479, 761 
10, 284, 547 
3, 524, 972 
4, 273, 201 
21, 803, 582 


13, 741, 408 

11,676,416 

12, 369, 549 

10, 142, 987 

38, 975, 035 

22, 329, 769 

18, 662, 892 

10, 999, 107 

16, 802, 494 

10. 646, 816 

21, 197, 396 

11,824,317 

14, 050, 609 

11,179,730 

4, 231, 420 

2, 561, 584 

1, 606, 967 

6, 664, 068 


2, 257, 373 


70under80 


3,211,056 


80 under 90 


3, 310. 767 


90 under 100 


2, 491, 350 


100 under 150. 


11,865,593 


150 under 200 . 


8,071,533 


200 under 250 


7, 223, 9.50 


250 under 300 


4, 940, 933 


300 under 400.. 


8, 129,827 


400 under 500. .. ... 


7, 568, 350 


500 under 750 


12, 709, 243 


750 under 1,000 _ 


9, 190, 203 


1,000 under 1,500 

1,500 under 2,000 


17, 588, 943 
10, 883, 523 


2,000 under 3,000 


7, 433. 366 


3,000 under 4,000 .. 


162, 260 


4,000 under 5,000 


3. 393, 153 


5,000 and over 


21,315,213 






Nontaxable returns 4 
















6,579 


733, 541, 855 


263, 858, 739 


2,501 


392, 250, 208 


143, 197, 042 




Total, individual re- 
turns with net income 
Taxable individual returns 
with no net income 8 _. 


6,579 
26 


733, 541, 855 
» 1, 403, 649 


263, 858, 739 
615,251 


2,501 


392, 250, 208 


143, 197, 042 










Grand total 


6,605 


8 732, 138, 206 


264, 473, 990 


2,501 


392, 250, 208 


143, 197, 042 







For footnotes, see p. 101. 



STATISTICS OF INCOME 



97 



Table 2-A. — Individual returns x with net income (excluding fiduciary returns), 
by net income classes, also aggregate for individual returns with no net income 
(excluding fiduciary returns), 1938, by returns with no alternative tax and with 
alternative tax: number of returns, net income, personal exemption, credit for 
dependents, earned income credit, tax, average tax, and effective tax rate — Continued 



PART III— RETURNS WITH ALTERNATIVE 


TAX 3— Continued 






Computation of alternative tax — Continued 




Returns with net long-term capital gain— Continued 


Net income classes 
(Thousands of dollars) 

(1) 


Ordinary- 
net income 
(col. 6-7) 
(item 3, 
Sch. F, 
Form 
1040) 

(8) 


Personal 
exemption 

(9) 


Credit 
for de- 
pendents 

(10) 


Earned 
income 
credit 

(11) 


Normal 

tax (item 

10, Sch. F, 

Form 

1040) 

(12) 


Surtax 
(item 11, 

Sch. F, 
Form 
1040) 

(13) 


Returns with net income: 
Under 1 (est )* 


























































































































































































































































































































































































40 under 50 


$6, 033, 783 
22. 078, 501 
20, 057, 528 

15, 700, 036 

16, 093, 957 
11, 759, 103 
41, 102, 305 
22, 785, 108 
14, 739, 232 

9,175.097 

11, 600, 676 

10, 789, 667 

10,817,607 

10, 024 531 

11, 175, 640 

9, 982, 122 

407, 144 

3, 362. 712 

880, 048 

488, 369 


$207, 125 

781,316 

691, 117 

490, 075 

440, 717 

278, 817 

860, 975 

356, 375 

199,125 

106, 938 

110, 500 

79, 025 

77, 625 

41,000 

47, 875 

26, 750 

7, 500 

1, 250 

1,000 

6,000 


$23, 248 

144, 589 

137, 166 

87, 265 

78, 9S6 

50, 897 

140, 699 

65, 166 

34, 066 

16, 699 

12, 867 

11,999 

9,001 

3,567 

7,100 

1,467 

400 


$101, 128 

388, 524 

312, 193 

230, 044 

208, 120 

134, 851 

405, 477 

163,747 

92, 495 

55,141 

43, 887 

42, 734 

29, 570 

15, 024 

22, 300 

7,800 

2,000 

860 

1,400 

900 


$225,117 

823, 270 

749, 581 

589, 324 

610, 754 

446, 485 

1, 579, 505 

879, 652 

569, 880 

358, 407 

457, 295 

432, 286 

427, 597 

397, 855 

443, 887 

397, 768 

15, 834 

134, 424 

35, 106 

20, 533 


$820, 530 


50undcr60 


3, 285, 529 


60 under 70 


3, 374, 530 


70 under SO 


3, 033, 769 


80 under 90 


3, 502, 802 


90under 100 

100 under 150 


2, 872, 603 
12, 393, 545 


150 under 200 


8, 522, 945 


200 under 250 


6, 030, 020 


250 under 300 


4, 040, 847 


300 under 400 


5, 449, 109 


400 under 500 


5, 780, 200 


500 under 750 


5, 818, 846 


750 under 1,000 


5, 837, 627 


1,000 under 1,500 


6, 672. 250 


1,500 under 2,000 


6, 366, 513 


2,000 under 3,000 


165,662 


3,000 under 4,000 ... 


2, 378, 482 


4,000 under 5,000 




553, 915 


5,000 and over 


800 


248, 971 




















Taxable returns 


249, 053, 166 


4,811,705 


825, 982 


2, 258, 195 


9, 594, 560 


87, 148, 695 


Total, individual returns 

with net income 

Taxable individual returns 


249, 053, 106 


4,811,705 


825, 982 


2, 258, 195 


9, 594, 560 


87, 148, 695 
















Grand total. 


249, 053, 166 


4, 811, 705 


825, 982 


2, 258, 195 


9, 594, 560 


87, 148, 695 







For footnotes, see p. 101. 



98 



STATISTICS OF INCOME 



Table 2-A. — Individual returns l with net income (excluding fiduciary returns), 
by net income classes, also aggregate jor individual returns with no net income 
(excluding fiduciary returns), 1938, by returns with no alternative tax and with 
alternative tax: number of returns, net income, personal exemption, credit for 
dependents, earned income credit, tax, average tax, and effective tax rate — 'Continued 

PART III— RETURNS WITH ALTERNATIVE TAX «— Continued 







Computat 


ion of alternative tax- 


-Continued 




Net income classes 
(Thousands of dollars) 

(1) 


Returns with net long-term capital 
gain — Continued 


Returns with net long-term capital 
loss 


Alternative 
tax (col. 
12+13+30 
percent of 
col. 7) (item 
14, Sch. F, 
Form 1040) 

(14) 


Average 
alterna- 
tive tax 
(col. 
14-^5) 

(15) 


Effective 
tax rate, 
percent 
(returns 
with net 
income) 
(col. 144-6) 

(16) 


Number 

of 
returns 

(17) 


Net income 

(item 20, 

p. 1, 

Form 1040) 

(18) 


Net long- 
term 
capital 
loss (item 
10(b), p. 1, 
Form 
1040) 

(19) 


Returns with net income: 
Under 1 (est.) 4 














Under 1 (est.).. 














1 under 2 (est.) 4 














1 under 2 (est.) 














2 under 2.5 (est.) 4 .. - 














2 under 2.5 (est.) 








1 


$2, 263 


$113, 156 


2.5 under 3 (est.) 4 .. 










2.5 under 3 (est.).. 








2 


5,154 


285, 872 


3 under 4 (est.) 4 








3 under 4 (est.) 








1 


3,048 


173, 180 


4 under 5 (est.) 4 










4 under 5 (est.)... 








2 


8,838 


414,919 


5 under 6 4 










5 under 6 








7 


37, 957 


369, 630 


6 under 7 








7 under 8 














8 under 9 








3 

3 
5 
4 

7 
5 


25, 807 
28, 178 
53, 253 
46, 189 
88, 044 
68, 410 


317,493 


9 under 10.. 








287, 520 


10 under 11 








268, 040 


11 under 12 








2,120 


12 under 13. 








65, 007 


13 under 14 








452, 673 


14 under 15 










15 under 20 








30 

40 

60 

162 

754 

857 

556 

341 

275 

189 

443 

128 

83 

34 

41 

8 

28 

5 

2 

1 

1 


526, 459 

916, 169 

1,641,114 

5, 790, 709 

35, 072, 591 

46,831,428 

35, 963, 670 

25,417,404 

23, 279, 046 

17, 867, 924 

53, 048, 220 

22, 129, 104 

18, 373, 895 

9, 183. 200 

14, 316, 299 

3, 583, 840 

16, 583, 484 

4, 227, 574 

2,114,223 

1,614,116 

2, 444, 037 


1, 645, 573 


20 under 25 








1,464,323 


25 under 30.. 








1,514,810 


30 under 40 








4, 558, 260 


40 under 50 


$1,091,239 

4, 498, 329 

4, 801, 323 

4,586,410 

5, 106, 786 

4, 066, 493 

17, 532, 728 

11, 824, 057 

8, 767, 085 

5, 881, 534 

8, 345, 352 

8, 482, 991 

10, 059, 216 

8, 992, 543 

12, 392, 820 

10, 029, 338 

2,411,506 

2,561,584 

1, 606, 967 

6, 664, 068 


$8, 459 

10, 609 

13,917 

18, 200 

22, 300 

27,110 

39, 757 

66, 056 

88, 556 

113,106 

146,410 

206, 902 

264, 716 

408, 752 

538,818 

835, 778 

803, 835 

2, 561, 584 

1,606,967 

2, 221, 356 


17.64 
19.24 
21.52 
24.25 
26.32 
28.54 
33.10 
38. 32 
39.92 
41.67 
42.30 
46.21 
42.76 
46.80 
43.08 
48.07 
30.76 
72. 67 
37.61 
30.50 


7, 798, 103 


50 under 60. 


6, 780, 383 


60 under 70_ 


5,306,917 


70 under 80... 


2, 810, 063 


Sounder 90 


2, 588, 533 


90 under 100 


1,691.440 


100 under 150 


4, 887. 130 


150 under 200... 


1,473,827 


200 under 250. 


2, 086. 667 


250 under 300 


765, 383 


300 under 400. 


965, 543 


400 under 500. 


66, 593 


500 under 750 


1,601,210 


750 under 1,000 


49, 577 


1,000 under 1,500. 


450, 637 


1,500 under 2,000.... 


3 


2,000 under 3,000 


51, 100 


3,000 under 4,000 . 




4,000 under 5,000 








































139, 702, 369 


55, 859 


35.62 


4,078 


341, 291, 647 


51, 305, 685 






Total, individual re- 
turns with net income 
Taxable individual returns 


139, 702, 369 


55, 859 


35.62 


4,078 
26 


341,291,647 
» 1, 403, 649 


51,305,685 
6, 768, 474 












Grand total 


139, 702, 369 


55, 859 


35.62 


4,104 


> 339, 887, 998 


58, 074, 159 







For footnotes, see p. 101. 



STATISTICS OF INCOME 



99 



Table 2-A. — Individual returns J with net income (excluding fiduciary returns), 
by net income classes, also aggregate for individual returns with no net income 
(excluding fiduciary returns), 1938, by returns with no alternative tax and with 
alternative tax: number of returns, net income, personal exemption, credit for 
dependents, earned income credit, tax, average tax, and effective tax rate — Continued 

PART III— RETURNS WITH ALTERNATIVE TAX >— Continued 







Computation of alternative tax — 


Continued 






Returns with net long-term capital loss— Continued 


Net income classes 
{Thousands of dollars) 

(1) 


Ordinary net 
net income 
(col. 18+19) 
(item 3, Sch. 
F, Form 
1040) 

(20) 


Personal 
exemp- 
tion 

(21) 


Credit for 
depend- 
ents 

(22) 


Earned 
income 
credit 

(23) 


Normal tax 
(item 10, 
Sch. F, 

Farm 1040) 

(24) 


Surtax 

(item 11, 

Sch. F, 

Form 1040) 

(25) 


Returns with net income: 

Under 1 (est.) 4 














Under 1 (est.) 














1 under 2 (est.) 4 














1 under 2 (est.) _ .. 














2 under 2.5 (est.) 4 
















$115, 419 


$2, 500 




$226 


$4, 480 


$37, 494 


2.5 under 3 (est.) 4 






2.5 under 3 (est.) 


291,026 


3,500 




515 


11, 179 


107, 778 


3 under 4 (est.) 4 






3 under 4 (est.) ... 


176, 228 


2,500 




300 


6,936 


73, 237 


4 under 5 (est.) 4 -. 






4 under 5 (est.) . 


423, 757 


3,500 




600 


14, 764 


190,990 


5 under 6 4 






5 unrlpr 6 


407, 587 


14, 500 


$1, 367 


2,332 


15, 457 


112, 251 






7under8 














8 under 9 . . 


343, 300 
315,698 
321,293 
48, 309 
153,051 
521, 083 


3,500 
6,000 
8,000 
7,500 
11,000 
8,500 




1,439 
1,249 
2,170 
3,750 
5,443 
5,241 


13, 535 
12,028 
12,311 
1,491 
5,403 
20,371 


114, 055 


9 under 10 ... 


800 
1, 267 

400 
1,533 

600 


95, 581 


10 under 11 


88, 413 


11 under 12 


1,580 


12 under 13 


19,068 


13 under 14 


182, 333 






15 under 20. _. 


2. 172, 032 

2, 380, 492 
3, 155, 924 

10, 348, 969 
42, 870, 694 
53,611,811 
41, 270, 587 
28, 227, 467 
25. 867, 579 
19, 559. 364 
57, 935, 350 
23, 602, 931 
20, 460, 562 
9, 948, 583 
15,281,842 

3, 650, 433 
18,184,694 

4, 277, 151 
2, 564, 860 
1,614,119 
2, 495, 137 


52, 550 

73, 695 
118, 125 
317,971 

1, 407, 916 
1, 759, 062 
1,119,309 
701, 488 
554, 753 
369, 775 
877, 908 
260, 750 
157, 000 

74, 500 
83, 500 
14, 500 
59, 125 

9,500 
5,000 
2,500 
2,500 


8,718 

11,867 

20,267 

44, 417 

253, 990 

303, 952 

203, 986 

122, 301 

99, 865 

62, 931 

132, 520 

34, 532 

18, 067 

20,267 

8,634 

2,467 

7,133 

800 


21, 077 

36, 702 

49, 200 

143,612 

696, 855 

850, 371 

596, 604 

362, 605 

291, 358 

193,717 

451, 468 

129, 489 

70, 465 

33, 300 

38, 870 

6,451 

18, 000 

•?,800 

2,800 

300 

300 


82, 704 

89, 871 

118,048 

391, 126 

1,609,178 

2,012,232 

1,551,014 

1, 078, 872 

989, 800 

755, 724 

2, 246, 854 

918, 950 

806, 058 

391,625 

599, 350 

145,045 

723, 415 

169, 512 

102, 283 

64, 373 

99, 693 


591,272 


20 under 25 


514, 976 


25 under 30 


613, 883 


30 under 40 


2,114,423 


40 nndpr 50 


7, 278, 142 


50 under 60 


10, 003, 336 


60 under 70 


8,981,146 


70under80 


6, 854. 153 


80 under 90 


7, 049, 523 


90 under 100. 


5, 828, 202 


100 under 150 


20,661,592 


150 under 200 


10, 028, 910 


200 under 250 


9, 715, 749 


250 under 300 


4, 955, 563 


300 under 400 


8, 147, 455 


400 under 500 


2, 038, 758 


500 under 750 


10, 895, 128 


750 under 1,000 


2, 677, 135 


1,000 under 1,500 . 


1, 690, 697 


1,500 under 2,000 


2,000 


1,086,020 


2,000 under 3,000 


1, 735, 551 


3,000 under 4,000 






4,000 under 5,000 










































Taxable returns 


392, 597, 332 


8, 092, 427 


1, 364, 681 


4,021,609 


15, 063, 682 


124, 484, 394 






Total, individual returns 


392, 597, 332 
5, 364, 825 


8, 092, 427 
49, 000 


1, 364, 681 
6,400 


4,021,609 
14,848 


15, 063, 682 
211, 468 


124, 484, 394 


Taxable individual returns 


2, 434, 324 






Grand total 


397, 962, 157 


8, 141, 427 


1,371,081 


4, 036, 457 


15, 275, 150 


126, 918, 718 







For footnotes, see p. 101. 



100 



STATISTICS OF INCOME 



Table 2-A. — Individual returns l with net income (excluding fiduciary returns), 
by net income classes, also aggregate for individual returns with no net income 
(excluding fiduciary returns), 1938, by returns with no alternative tax and with 
alternative tax: number of returns, net income, personal exemption, credit for 
dependents, earned income credit, tax, average lax, and effective tax rate — Continued 

PART III-RETURNS WITH ALTERNATIVE TAX 3— Continued 





Computation of alternative tax — 
Continued 


Average 

alternative 

tax (col. 

4+2) 

(29) 






Returns with net long-term capital 
loss — Continued 


Effective 
tax rate, 


Net income classes 
(Thousands of dollars) 

(1) 


Alternative 
tax (col. 24 
+25-30 per- 
cent of col 19) 

(item 14, 
Sch. F, Form 
1040) 

(26) 


Average 

alternative 

tax (col. 

26+17) 

(27) 


Effective 
tax rate, 
percent 
(returns 

with net 

income) 

(col. 26 h- 18) 

(28) 


percent (re- 
turns with 
net income) 
(col. 4+3) 

(30) 


Returns with net income: 

Under 1 (est.) 4 












Under 1 (est.) 












1 under 2 (est.) 4 












1 under 2 (est.) 












2 under 2.5 (est.) 4 












2 under 2.5 (est.) 


$8, 027 


$8,027 


354. 71 


$8, 027 


354. 71 


2.5 under 3 (est.) 4 




2.5 under 3 (est.) 


33, 195 


16, 598 


644.06 


16, 598 


644. 06 


3 under 4 (est.) 4 






28,219 


28, 219 


925. 82 


3,048 


925. 82 


4 under 5 (est.) 4 






81, 279 


40, 640 


919.65 


40, 640 


919.65 


5 under 6 4 






16, 819 


2,403 


44.31 


2,403 


44.31 


6 under 7 - 




7 under 8 














32, 342 
21,353 
20,312 
2,435 
4,969 
66,902 


10, 781 
7,118 
4,062 
609 
710 
13, 380 


125. 32 

75.78 

38.14 

5.27 

5.64 

97.80 


10, 781 
7,118 
4,062 
609 
710 
13, 380 


125.32 


9 under 10 


75.78 


10 under 11 .. ... . . ... 


38.14 


11 under 12 


5.27 


12 under 13 


5.64 


13 under 14 


97.80 


14 under 15 _ 




15 under 20.. 


180, 304 

165, 550 

277, 488 

1,138,071 

6, 547, 889 

9,981,453 

8, 940, 085 

7, 090, 006 

7, 262, 763 

6, 076, 494 

21, 442, 307 

10,505,712 

9, 895, 807 

5,117,573 

8, 457, 142 

2, 163, 825 

11,138,180 

2,831.774 

1, 657, 789 

1,150,392 

1,819,914 


6,010 

4,139 

4,625 

7,025 

8,684 

11,647 

16,079 

20, 792 

26, 410 

32, 151 

48, 402 

82, 076 

119,227 

150, 517 

206, 272 

270, 478 

397, 792 

566, 355 

828, 895 

1, 150, 392 

1,819,914 


34.25 
18.07 
16.91 
19.65 
18.67 
21.31 
24.86 
27.89 
31.20 
34.01 
40.42 
47.47 
53.86 
55.73 
59.07 
60.38 
67.16 
66.98 
78.41 
71.27 
74.46 


6,010 

4,139 

4,625 

7,025 

8,651 

11,303 

15, 251 

19, 690 

24, 543 

29, 920 

44, 089 

72, 735 

102, 543 

127,897 

171,454 

217,282 

321, 173 

437, 938 

562, 024 

859, 979 

1,057,855 

2,561,584 

1, 606, 967 

2,221,356 


34.25 


20 under 25 


18.07 


25 under 30 


16.91 


30 under 40 


19.65 


40 under 50 


18.52 


50 under 60 


20.62 


60 under 70 


23.58 


70 under80 


26.34 


80 under 90 


28.98 


90 under 100 


31.58 


100 under 150 


36.76 


150 under 200 


42. H 


200 under 250 


46.27 


250 under 300 


47.21 


300 under 400 


49.35 


400 under 500. _ 


48.52 


500 under 750 


52.85 


750 under 1,000 


50.44 


1,000 under 1,500 


45.50 


1,500 under 2,000. . 


49.73 


2,000 under 3,000 


41.14 


3,000 under 4,000 


72.67 


4,000 under 5,000 








37.61 


5,000 and over 








30.56 












Nontaxable returns 4 












Taxable returns 


124, 156, 370 


30, 445 


36.38 


40, 106 


35.97 






Total, individual returns with net 
income 


124,156,370 
615, 251 


30, 445 
23, 664 


36.38 


40, 106 
23, 664 


35.97 


Taxable individual returns with no net 
income 6 










Grand total 


124,771,621 


30, 402 




40,041 











For footnotes, see p. 101. 



STATISTICS OF INCOME 101 

Footnotes for table 2-A 

i Unlike basic table 2 in Statistics of Income for 1937, Part 1 (pp. 117-11S), this table excludes taxable fiduci- 
ary returns with net income. Form 1041, and taxable and nontaxable returns for estates and trusts incor- 
rectly filed on Form 1040 instead of Form 1041 (see table 10, pp. 171-179). Data for individual returns with no 
net income are included in this table for the first time. 

* Consists of (1) returns with no net long-term capital gain or loss and (2) returns with net long-term capi- 
tal gain or loss which have no alternative tax. 

3 The alternative tax is imposed on returns with net long-term capital gain if such alternative tax is less 
than the sum of the normal tax and surtax computed on net income including net long-term capital gain. 
The alternative tax is imposed on returns with net long-term capital loss if such alternative tax is greater 
than the sum of the normal tax and surtax computed on net income after deducting net long-term capital 
loss. 

* Nontaxable returns. Exemptions from normal tax and surtax exceed net income. A negligible number 
of nontaxable returns in net income classes of $6,000 and over is not tabulated separately. 

5 Includes returns with zero net income (total income equals total deductions). 

6 Returns with net long-term capital loss on which the tax, computed on net income before the deduction 
of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

i Deficit. 

8 Net income less deficit. 

9 Not available. 

10 Average total tax not computed. 



102 



STATISTICS OF INCOME 



Table 3. — Individual returns and taxable fiduciary returns, with net income, 1 1988, 
by net income classes: simple and cumulative distribution of number of returns, net 
income and tax, and percentages; also aggregate for individual returns with no net 
income (excluding fiduciary returns), 1938 

[Net income classes and money figures in thousands of dollars] 

(For text denning certain items and describing methods of tabulating and estimating data, see pp. 1-6 

and 14-15 





Returns 


Net income 2 classes 


Simple distribution 


Cumulative distri- 
bution from high- 
est income class 


Cumulative distribu- 
tion from lowest in- 
come class 


(1) 


Number 

(2) 


Percent 
of total 

(3) 


Number 
(4) 


Percent 
of total 

(5) 


Number 
(6) 


Percent 
of total 

(7) 


Individual returns and taxable fidu- 
ciary returns 2 with net income: 
Under 1 (est.) 


389, 871 

2, 433, 949 

674, 596 

940, 386 

854, 607 

317,802 

165, 168 

102, 956 

66, 758 

46, 226 

34, 488 

25, 922 

20, 577 

16, 566 

13, 479 

11,346 

35, 032 

17, 859 

10, 207 

10, 814 

5,315 

2,943 

1,775 

1,144 

841 

556 

1,326 

420 

229 

117 

142 

65 

81 

37 

30 

16 

6 

1 

1 

3 


6.28 

39.24 

10.87 

15.16 

13.78 

5.12 

2.66 

1.66 

1.08 

.74 

.56 

.42 

.33 

.27 

.22 

.18 

.56 

.29 

.16 

.18 

.08 

.05 

.03 

.02 

.01 

.01 

.02 

.01 

( 5 ) 

( 5 ) 

( 5 ) 

( 6 ) 

(») 

( 6 ) 

( 6 ) 

w 
( 5 ) 
( 5 ) 
( s ) 
( 5 ) 


6, 203, 657 

5, 813, 786 

3, 379, 837 

2, 705. 241 

1, 764, 855 

910, 248 

592, 446 

427, 278 

324, 322 

257, 564 

211,338 

176, 850 

150, 928 

130,351 

113,785 

100, 306 

88, 960 

53, 928 

36, 069 

25, 862 

15, 048 

9,733 

6,790 

5,015 

3,871 

3,030 

2,474 

1,148 

728 

499 

382 

240 

175 

94 

57 

27 

11 

5 

4 

3 


100. 00 
93.72 
54.48 
43.61 
28.45 
14.67 
9.55 
6.89 
5.23 
4.15 
3.41 
2.85 
2.43 
2.10 
1.83 
1.61 
1.43 
.87 
.58 
.42 
.24 
.16 
.11 
.08 
.06 
.05 
.04 
.02 
01 
.01 
.01 
( 5 ) 
( 5 ) 
( 5 ) 
( 5 ) 
( 5 ) 
( 5 ) 
( 5 ) 
( s ) 
( 5 ) 


389, 871 
2, 823, 820 
3, 498, 416 
4, 438, 802 
5, 293, 409 
5,611,211 

5, 776, 379 
5,879,335 
5, 946, 093 
5, 992, 319 
6, 026, 807 
6, 052, 729 
6, 073, 306 
6, 089, 872 
6, 103, 351 
6,114,697 
6, 149, 729 
6, 167, 588 
6, 177, 795 
6, 188, 609 
6, 193, 924 

6, 196, 867 
6, 198, 642 
6, 199, 786 
6, 200, 627 
6, 201, 183 
6, 202, 509 

6. 202, 929 
6, 203, 158 
6, 203, 275 
6, 203, 417 
6, 203, 482 
6, 203, 563 

6. 203, 600 
6, 203, 630 
6, 203, 646 
6, 203, 652 
6, 203, 653 
6, 203, 654 
6, 203, 657 


6.28 


1 under 2 (est.) 


45.52 


2 under 2.5 (est.) 


56.39 


2.5 under 3 (est.)... 


71.55 


4 under 5 (est.) 


85.33 
90.45 




93.11 


6 under 7 


94.77 


7 under 8 


95.85 


8 under 9 


96.59 


9 under 10 


97.15 


10 under 11 


97.57 


11 under 12 


97.90 


12 under 13 


98. 17 


13 under 14 


98.39 


14 under 15 _ 


98.57 


15 under 20 


99.13 


20 under 25... 


99.42 


25under30... 


99.58 


30 under 40 


99.76 


40 under 50 


99.84 


50 under 60 


99.89 


60 under 70 


99.92 


70 under 80 


99.94 


80 under 90 


99.95 


90 under 100 


99.96 


100 under 150 


99.98 


150 under 200 


99.99 


200under250 


99.99 


250 under 300 


99.99 


300 under 400 


99.99 


400 under 500 


99.99 


500 under 750 


99.99 


750 under 1,000 


99.99 


1,000 under 1,500 


99.99 


1,500 under 2,000 


99.99 


2,000 under 3,000 


99.99 


3,000 under 4,000 


99.99 


4,000 under 5,000 


99.99 


5,000 and over 


100. 00 






Total, individual returns and 
taxable fiduciary returns 
with net income 


6, 203, 657 
100, 233 


100. 00 










Individual returns with no net in- 
come 3 




















Grand total 


6, 303, 890 


V) 





















For footnotes, see p. 104. 



STATISTICS OF INCOME 



103 



Table 3. — Individual returns and taxable fiduciary returns, with net income, 1 1938, 
by net income classes: simple and cumulative distribution of number of returns, net 
income and lax, and percentages; also aggregate for individual returns with no net 
income (excluding fiduciary returns), 1938 — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income 2 classes 



(1) 



Net income J 



Simple distribution 



Amount 
(8) 



Percent 
of total 

(9) 



Cumulative distri- 
bution from high- 
est income class 



Amount 
(10) 



Percent 
of total 

(11) 



Cumulative distribu- 
tion from lowest in- 
come class 



Amount 
(12) 



Percent 
of total 

(13) 



Individual returns and taxable fidu- 
ciary returns 2 with net income: 
Under 1 (est.) 

1 under 2 (est.) 

2 under 2.5 (est.) 

2.5 under 3 (est.) 

3 under 4 (est.) 

4 under 5 (est.) 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13, 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80under90. 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500.. 

1,500 under 2,000 

2,000 under 3,000 . 

3,000 under 4,000 

4,000 under 5,000 

5,000 and over 



Total, individual returns and 
taxable fiduciary returns 

with net income 

Individual returns with no net in- 
come 3 



259, 833 

3, 430, 143 

1, 522, 470 

2, 569, 030 

2, 906, 675 

1,411,034 

901,639 

665, 222 

498, 252 

391, 924 

326, 856 

271, 631 

236, 256 

206, 724 

181, 826 

164, 344 

601,552 

397, 446 

278, 700 

370, 978 

236, 720 

160, 693 

114,704 

85,417 

71, 255 

52, 699 

158,413 

72, 545 

50, 745 

31, 706 
49, 350 
29, 091 
49, 096 

32, 300 
37, 583 
27, 625 
15, 293 

3,525 

4,273 

21, 804 



18, 897, 374 
6 354,156 



1.37 
18.16 
8.06 
13. 59 
15.38 
7.47 
4.77 
3.52 
2.64 
2.07 
1.73 
1.44 
1.25 
1.09 
.96 
.87 
3.18 
2.11 
1.47 
1.97 
1.25 
.85 
.61 
.45 
.37 
.28 
.84 
.38 
.27 
.17 
.26 
.16 
.26 
.17 
.20 
.14 
.08 
.02 
.02 
.12 



100. 00 
(') 



18, 897, 374 

18, 637, 541 

15, 207, 398 

13, 684, 928 

11,115,897 

8, 209, 222 

6, 798, 188 

5, 896, 549 

5,231,326 

4, 733, 075 

4, 341, 151 

4,014,295 

3, 742, 664 

3, 506, 407 

3, 299, 683 

3.117,857 

2, 953, 514 

2,351,902 

1,954,516 

1, 675, 816 

1,304,838 

1,068,118 

907, 425 

792, 721 

707, 304 

636, 049 

583, 350 

424, 937 

352, 392 

301,647 

269, 940 

220, 590 

191, 499 

142, 403 

110, 103 

72, 520 

44, 894 

29, 602 

26, 077 

21, 804 



100. 00 
98.63 
80.47 
72.41 
58.82 
43.44 
35.97 
31.20 
27.68 
25.04 
22.97 
21.24 
19.80 
18. 55 
17.46 
16.50 
15.63 
12.45 
10.34 
8.87 
6.90 
5.65 
4.80 
4.19 
3.74 
3.37 
3.09 
2.25 
1.87 
1.60 
1.43 
1.17 
1.01 
.75 
.58 
.38 
.24 
.16 
.14 
.12 



259, 833 

3, 689, 976 

5, 212, 446 

7,781,476 

10, 688, 151 

12,099,186 

13, 000, 825 

13, 666, 047 

14, 164, 299 

14, 556, 223 

14, 883, 078 
15,154,710 
15, 390, 966 

15, 597, 690 
15,779,517 
15, 943, 860 
16, 545, 412 
16, 942, 858 
17,221,558 
17, 592, 536 
17, 829, 255 

17, 989, 949 
18, 104, 653 
18, 190, 070 

18, 261, 324 
18, 314, 023 
18, 472, 436 
18, 544, 982 
18, 595, 727 
18, 627, 434 
18, 676, 784 
18, 705, 875 
18, 754, 971 
18, 787, 271 
18, 824, 854 
18, 852, 479 
18, 867, 772 
18, 871, 297 
18, 875, 570 
18, 897, 374 



1.37 
19,53 
27.59 
41.18 
56.56 
64.03 
68.80 
72.32 
74.96 
77.03 
78.76 
80.20 
81.45 
82.54 
83.50 
84.37 
87.55 
89.66 
91.1$ 
93. 1C> 
94.35 
95.20> 
95.81 
96.26- 
96.63 
96.91 
97.75 
98.13 
98.40 
98.57 
98.83 
98.99 
99.25 
99.42 
99.62 
99. 76 
99.84 



100. 00 



For footnotes, see p. 104. 



104 



STATISTICS OF INCOME 



Table 3. — Individual returns and taxable fiduciary returns, with net income, 1 1988, 
by net income classes: simple and cumulative distribution of number of returns, net 
income and tax, and percentages; also aggregate for individual returns with no net 
income (excluding fiduciary returns), 1988 — Continued 

[Net income classes and money figures in thousands of dollars] 









Total tax 






Net income 2 classes 


Simple distribution 


Cumulative distribu- 
tion from highest 
income class 


Cumulative distribu- 
tion from lowest in- 
come class. 


(1) 


Amount 
(14) 


Percent 
of total 

(15) 


Amount 
(16) 


Percent 
of total 

(17) 


Amount 
(18) 


Percent 

of total 

(19) 


Individual returns and taxable fidu- 
ciary returns 2 with net income: 


719 
15, 202 
7,782 
6,007 
16, 080 
17, 840 
16, 182 

14, 945 
13, 983 
13,491 
13, 052 
12,185 
11,667 
11,035 
10, 469 
10, 043 
42, 872 

35. 891 
30,852 
50,314 
39, 428 
31,824 
26, 232 
21, 942 
20, 458 
16, 533 
58, 224 

30. 892 
23, 644 

15, 207 
25, 041 
14,791 
25, 882 
16,471 
17, 154 
13. 442 

6, 606 
2, 562 
1,607 
6,664 


0.09 
1.99 
1.02 
.79 
2.10 
2.33 
2.11 
1.95 
1.83 
1.76 
1.71 
1.59 
1.53 
1.44 
1.37 
1.31 
£.60 
4.69 
4.03 
6.58 
5.15 
4.16 
3.43 
2.87 
2.67 
2.16 
7.61 
4.04 
3.09 
1.99 
3.27 
1.93 
3.38 
2.15 
2.24 
1.76 
.86 
.34 
.21 
.87 


765, 218 
764, 499 
749, 296 
741, 514 
735, 508 
719,428 
701,588 
685, 406 
670, 461 
656, 477 
642, 987 
629, 934 
617, 749 
60S, 082 
595, 046 
584, 578 
574, 535 
531.663 
495, 772 
464, 920 
414,606 

375. 178 
343, 354 
317, 122 

295. 179 
274, 722 
258, 188 
199, 964 
169, 072 
145, 427 
130, 220 
105, 179 

90, 388 
64, 506 
48, 035 
30, 881 
17,439 
10, 833 
8,271 
6,664 


100. 00 
99.91 
97.92 
96.90 
96. 11 
94.01 
91.68 
89.57 
87.62 
85.79 
84.03 
82.32 
80.73 
79.20 
77.76 
76.39 
75.08 
69. 4S 
64.79 
60.76 
54. 18 
49.03 
44.87 
41.44 
38.57 
35.90 
33.74 
26.13 
22.09 
19.00 
17.01 
13.74 
11.81 
8.43 
6.28 
4. 04 
2.28 
1.42 
1.08 
.87 


719 
15,922 
23, 703 
29,710 
45, 789 
63, 630 
79,812 
94, 757 
108, 740 
122, 231 
135, 284 
147, 469 
159, 136 
170,171 
180,640 
190. 683 
233. 555 
269, 446 
300, 298 
350,612 
390, 040 
421,864 
448, 096 

470. 038 
490, 496 
507, 029 
565, 253 
596, 146 
619,790 
634, 997 

660. 039 
674, 830 
700,711 
717,182 
734, 337 
747, 779 
754, 3S5 
756, 947 
758,554 
765, 218 


0.09 




2.08 


2 under 2.5 (est.) ... -- 


3.10 




3.89 




5.99 




8.32 




10.43 




12.38 




14.21 




15.97 




17.68 




19.27 


11 under 12. 


20.80 


12 under 13 


22.24 


13 under 14 


23.61 




24.92 


15 under 20. _ . 


30.52 


20 under 25 


35. 21 


25 under 30. 


39.24 


30under40 ... 


45.82 


40under50 . . ... 


50.97 


50 under 60 .. . 


55.13 


60 under 70 .__......_.... 


58. 56 


70under80-._ 


61.43 


80 under 90 


64.10 


90 under 100 . . 


66.26 


100 under 150.. . 


73.87 


150under200 


77.91 


200 under 250. . . ... 


81.00 


250 under 300_ . 


82.99 


300 under 400 . 


86.26 


400 under 500. . .. 


88.19 


500 under 750. ......... 


91.57 


750 under 1,000. . 


93.72 


1,000 under 1,500 


95. 96 


1,500 under 2,000 


97.72 


2,000 under 3,000. 


98. 58 


3,000 under 4,000 ....... 


98.92 


4,000 under 5,000. 


99.13 


5,000 and over_ . ... ... 


100.00 






Total, individual returns and 
taxable fiduciary returns 


765, 218 
615 


100. 00 

( : ) 










Individual returns with no net in- 
come (taxable) * 




















765, 833 


(') 





















i This table contains data for individual returns with net income and with no net income, shown in basic 
table 3-A and for the taxable fiduciary returns with net income shown in Part 1 of basic table 10. Unlike 
basic table 3 in the Statistics of Income for 1937, Part 1 (pp. 119-121) excludes nontaxable returns with net 
income for estates and trusts filed incorrectly on Form 1040 instead of Form 1041 . For 1937, these incorrectly 
filed nontaxable returns with net income, which numbered 3,784, were tabulated as individual returns; 
but for 1938, these returns, which number only 276, are tabulated in basic table 10 in this report as fiduciary 
returns. 

2 For taxable fiduciary returns the net income used for classification and tabulation is the net income 
taxable to the fiduciary (item 17, on p. 1, Form 1041, facsimile on p. 298). 

3 Includes returns with zero net income (total income equals total deductions). 

* Returns with net long-term capital loss on which the tax, computed on net income before the deduction 
of long-term capital loss, exceeds 30 percent of the net long-term capital loss. 
6 Less than one-hundredth of 1 percent. 
« Deficit. 
' Percentage not computed. 



STATISTICS OF INCOME 



105 



Table 3-A. — Individual returns l with net income (excluding fiduciary rehirns), 
1938, by net income classes: simple and cumulative distribution of number of 
returns, net income and tax, and percentages; also aggregate for individual returns 
with no net income (excluding fiduciary returns), 1938 

[Net income classes and money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-6 

and 14-15] 



Net income classes 



(1) 



Returns 



Simple distribution 



Number 

(2) 



Percent 
of total 



(3) 



Cumulative distri- 
bution from high- 
est income class 



Number 
(4) 



Percent 
of total 

(5) 



Cumulative distribu- 
tion from lowest in- 
come class 



Number 
(6) 



Percent 
of total 

(7) 



Returns with net income: 

Under 1 (est.) 

1 under 2 (est.) 

2 under 2.5 (est.) 

2.5 under 3 (est.) 

3 under 4 (est.) 

4 under 5 (est.) 

5 under 6 

6 under 7 

7 under 8.. 

8 under 9 

9 under 10 

lOunder 11 

11 under 12 

12under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

SOunder 60 

60 under 70 

70 under 80 

SOunder 90 

90 under 100 

100 under 150 

150 under 200_- 

200 under 250 

250 under 300 

300 under 400 

400 under 500... 

500 under 750 

750 under 1,000 

1,000 under 1,500 

1,500 under 2,000 ... 

2,000 under 3,000 . 

3,000 under 4,000 

4,000 under 5,000 

5,000 and over 

Total, individual returns v. ith 

net income 

Individual returns with no net in- 
come 2 

Grand total __. 



366, 591 

2, 423, 278 

671,596 

938, 287 

851, 696 

315,783 

163, 644 

101, 823 

65, 960 

45, 575 

33,929 

25, 458 

20, 251 

16, 266 

13, 235 

11,095 

34, 247 

17, 388 

9,868 

10, 457 

5, 105 

2,809 

1,697 

1,112 

800 

526 

1,249 

395 

219 

103 

124 

58 

71 

31 

27 

14 

4 

1 

1 

3 



5.96 

39.40 

10.92 

15.25 

13.85 
5.13 
2.66 
1.66 
1.07 
.74 
.55 
.42 
.33 
.26 
.22 
.17 
.56 
.29 
.16 
.17 
.08 
.04 
.03 
.02 
.01 
.01 
.02 
.01 

0) 

( 4 ) 

( 4 ) 

( 4 ) 

( 4 ) 

( 4 ) 

W 

0) 

( 4 ) 

( 4 ) 

(0 

(*) 



6, 150, 776 
5, 784, 185 
3, 360, 907 
2,689,311 



51, 024 

899, 328 

583, 545 

419,901 

318,078 

252,118 

206, 543 

172,614 

147, 156 

126, 905 

110,639 

97, 404 

86, 309 

52, 062 

34, 674 

24, 806 

14, 349 

9,244 

6,435 

4,738 

3,626 

2,826 

2,300 

1,051 

656 

437 

334 

210 

152 

81 

50 

23 

9 

5 

4 

3 



100. 00 

94.04 

54.64 

43.72 

28.47 

14.62 

9.49 

6.83 

5.17 

4.10 

3.36 

2.81 

2.39 

2.06 

1.80 

1.58 

1.41 

.85 

.56 

.40 

.23 

.15 

.11 

.08 

.06 

.05 

.04 

.02 

.01 

.01 

.01 



6, 150, 776 
100, 233 



6, 251, 009 



( 6 ) 



366, 591 
, 789, 869 
, 461, 465 
, 399, 752 
,251,448 
, 567, 231 
, 730, 875 
, 832, 698 
, 898, 658 
, 944, 233 
,978,162 
, 003, 620 
,023,871 
, 040, 137 
, 053, 372 
, 064, 467 
,098,714 
,116,102 
, 125, 970 
, 136, 427 
,141,532 
.144,341 
, 146, 038 
, 147, 150 
, 147, 950 
, 148, 476 
, 149, 725 
, 150, 120 
,150,339 
,150,442 
, 150, 566 
i, 150, 624 
i, 150, 695 
, 150, 726 
, 150, 753 
, 150, 767 
,150,771 
,150,772 
,150,773 
,150,776 



5.96 
45.36 
56.28 
71.53 
85.38 
90.51 
93.17 
94.83 
95.90 
96.64 
97.19 
97.61 
97.94 
98.20 
98.42 
98.59 
99.15 
99.44 
99.60 
99.77 
99.85 
99.89 
99.92 
99.94 
99.95 
99.96 
99.98 
99.99 
99.99 
99.99 
99.99 
99.99 
99.99 
99.99 
99.99 
99.99 
99.99 



100. 00 



For footnotes, see p. 107. 



106 



STATISTICS OF INCOME 



Table 3- A. —Individual returns 1 with net income (excluding fiduciary returns), 
1938, by net income classes: simple and cumulative distribution of number of 
returns, net income and tax, and percentages; also aggregate for individual returns 
with no net income (excluding fiduciary returns), 1938 — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income 



Net income classes 



(1) 



Simple distribution 



Amount 
(8) 



Percent 

of total 

(9) 



Cumulative distri- 
bution from high- 
est income class 



Amount 
(10) 



Percent 

of total 



(11) 



Cumulative distribu- 
tion from lowest in- 
come class 



Amount 
(12) 



Percent 
of total 

(13) 



Returns with net income: 

Under 1 (est.) 

1 under 2 (est.) 

2 under 2.5 (est.) 

2.5 under3 (est.) 

3 under 4 (est.) 

4 under 5 (est.) 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90underl00 

100 under 150 

150under200 _ 

200 under 250 

250 under 300 

300 under 400 

400 under 500,.. 

500under750 __.. 

750 under 1,000 . .. 

1,000 under 1,500. 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000.. . 

4,000 under 5,000. .. 

5,000 and over 

Total, individual returns with 

net income 

Individual returns with no net 
income 2 



250, 739 

3, 414, 877 

1,515,778 

2, 563, 290 

2, 896, 579 

1, 402, 022 

893, 317 

657, 877 

492, 288 

386, 389 

321,551 

266, 762 

232, 507 

202, 986 

178, 535 

160, 702 

588, 056 

386, 936 

269, 468 

358, 599 

227, 371 

153, 282 

109, 588 

83, 032 

67, 747 
49, 853 

149, 052 

68, 056 
48, 536 
27, 862 
42, 958 
26, 074 
43, 412 
27, 178 
33, 592 
24, 190 
10, 285 

3, 525 
4,273 
21, 804 



1.38 

18.30 

8.12 

13,74 

15,52 

7.51 

4.79 

3.52 

2.64 

2.07 

1.72 

1.43 

1.24 

1.09 

.96 

.86 

3.15 

2.07 

1.44 

1.92 

1.22 

.82 

.59 

.44 

.36 

.27 

.80 

.36 

.26 

.15 

.23 

.14 

.23 

.14 

.18 

.13 

.05 

.02 

.02 

. 12 



18, 660, 929 

18, 410, 190 

14, 995, 313 

13, 479, 535 

10, 916, 245 

8, 019, 666 

6, 617, 644 

5, 724, 326 

5, 066, 449 

4, 574, 161 

4, 187, 772 

3, 866, 221 

3, 599, 460 

3, 366, 952 

3.163,966 

2, 985. 431 

2, 824, 729 

2, 236, 673 

1, 849, 736 

1, 580, 269 

1, 221, 670 

994, 299 

841, 017 

731, 429 

648, 396 

580, 649 

530, 796 

381, 744 

313, 68S 

265, 152 

237, 290 

194, 332 

168, 259 

124, 846 

97, 669 

64. 076 
39, 886 
29, 602 

20. 077 
21, 804 



100. 00 

98.62 

80.32 

72.20 

58,46 

42.94 

35. 43 

30.64 

27,12 

24.48 

22.41 

20.69 

19.26 

18.02 

16.93 

15. 97 

15.11 

11.96 

9.89 

8.45 

6.53 

5.31 

4.49 

3.90 

3.46 

3.10 

2.83 

2.03 

1.67 

1.41 

1.26 

1.03 

.89 

.66 

.52 

.34 

.21 

.16 

.14 

.12 



250, 739 
,665,616 
,181,394 
, 744, 684 
, 641, 264 
, 043, 286 
, 936, 603 
, 594, 480 
, 086, 768 
,473,157 
, 794, 708 
,061,470 
, 293, 977 
, 496, 963 
, 675, 498 
, 836, 200 
, 424. 257 
,811,193 
,080.661 
, 439, 259 
, 666, 630 
,819,912 
, 929. 501 
, 012, 533 

.(ISD.2S0 

, 130, 133 
, 279, 185 
,347,241 
, 395, 777 
, 423, 639 
, 466, 597 
, 492, 671 
, 536, 261 
, 563. 083 
, 596, 853 
, 621. 043 
, 631. 327 
, 634, 852 
, 639, 126 
:, 660, 929 



1.38 
19.68 
27.80 
41.54 
57.06 
64.57 
69.36 
72.88 
75.52 
77.59 
79.31 
80.74 
81.98 
83.07 
84.03 
84.89 
88.04 
90.11 
91.55 
93. 47 
94.69 

95. 51 
96.10 

96. 54 
96.90 
97.17 

97. 97 
98.33 
98.59 
98.74 
98.97 
99.11 
99.34 
99.48 
99. 66 
99. 79 
99.84 
99.86 
99.88 

100. 00 



18, 660, 929 
» 354, 156 



100. 00 
(0) 



For footnotes, see p. 107 



STATISTICS OF INCOME 



107 



Table 3- A. — Individual returns 1 with net income (excluding fiduciary returns), 
1988, by net income classes: simple and cumulative distribution of number of 
returns, net income and tax, and percentages; also aggregate for individual returns 
with no net income (excluding fiduciary returns), 1988 — Continued 

[Net income classes and money figures in thousands of dollars] 





Total tax 


Net income classes 


Simple distribution 


Cumulative distribu- 
tion from highest 
income class 


Cumulative distribu- 
tion from lowest in- 
come class. 


(1) 


Amount 

(14) 


Percent 

of total 

(15) 


Amount 
(16) 


Percent 

of total 

(17) 


Amount 

(18) 


Percent 
of total 

(19) 


Returns with net income: 
Under 1 (est.).. 


445 

14, 835 
7,586 
5,828 

15, 746 
17, 510 
15, 837 

14, 590 
13, 668 
13, 174 

12, 723 
11.862 
11,406 
10, 762 
10, 218 

9, 751 
41,681 
34, 756 

29, 689 
48, 454 
37, 773 

30, 285 
25, 024 
21,310 
19, 422 

15, 664 
54, 872 
29, 122 
22, 720 

13, 400 
21, 806 
13, 120 
23, 309 
14, 343 
15, 958 
12, 406 

4,231 
2,562 
1,607 
6,664 


.06 
2.05 
1.05 
.80 
2.17 
2.41 
2.18 
2.01 
1.88 
1.82 
1.75 
1.63 
1.57 
1.48 
1.41 
1.34 
5.74 
4.79 
4.09 
6.67 
5.20 
4.17 
3.45 
2.94 
2.65 
2.16 
7.56 
4.01 
3.13 
1.85 
3.00 
1.81 
3.21 
1.98 
2.20 
1.71 
.58 
.35 
.22 
.92 


726, 120 

725, 675 

710.840 

703, 254 

697, 426 

681, 679 

664, 169 

648, 332 

633, 742 

620, 074 

606. 900 

594, 177 

582,315 

570, 909 

560, 147 

549, 929 

540, 178 

498, 498 

463, 741 

434. 052 

385, 598 

347, 825 

317.540 

292. 516 

• 271, 206 

251, 784 

236, 120 

181, 247 

152. 126 

129, 405 

116,006 

94, 200 

81,080 

57, 771 

43, 428 

27. 470 

15,064 

10, 833 

8,271 

6,664 


100.00 
99.94 
97.89 
96.84 
96.04 
93.87 
91. 46 
89.28 
87.27 
85.39 
83.57 
81.82 
80.19 
78,62 
77.14 
75.73 
74.39 
68. 65 
63.86 
59.77 
53.10 
47.90 
43.73 
40.28 
37.34 
34.69 
32.53 
24.97 
20.96 
17.83 
15.98 
12.98 
11.17 
7.96 
5.98 
3.78 
2.07 
1.49 
1.14 
.92 


445 
15. 280 
22. 865 
28. 694 
44, 440 
61,951 
77, 788 
92, 378 
106, 046 
119,220 
131, 942 
143, 804 
155. 210 
165, 972 
176, 190 
185, 941 
227, 622 
262, 378 
292, 068 
340, 522 
378, 294 
408, 579 
433, 603 
454,914 
474, 336 
490, 000 
544. 873 
573. 994 
596, 714 
610,114 
631, 920 
645. 040 
668, 349 
682, 692 
698, 650 
711,056 
715, 287 
717, 849 
719, 456 
726, 120 


0.06 


2.5 under 3 (est.) 

3 under 4 (est.).. 


2.11 
3.16 
3.96 
6.13 


4 under 5 (est.) _. - 


8.54 


5 under 6 ___ ... 


10.72 


6 under 7 


12. 73 


7 under 8 .. . 


14.61 


8 under 9. _ . . 


16.43 


9underl0_. ... . ... . 


18.18 


lOunderll. . 


19.81 


11 under 12 . 


21. 38 


12under 13 . 


22.86 


13 under 14_ _ _. 


24.27 


14 under 15 


25.61 


15 under 20 


31.35 


20under25 


36.14 


25 under 30 

30 under 40 . _ 


40.23 
46.90 


40 under 50 . 


52.10 


50 under 60 


56.27 


60 under 70 


59.72 


70 under 80 


62.66 


80 under 90 


65.31 


90 under 100 


67. 47 


100 under 150... 


75.03 


150 under 200 


79.04 


200 under 250 


82.17 


250 under 300 

300 under 400 


84.02 
87.02 


400under500 


88.83 


500 under 750 

750 under 1,000 


92.04 
94.02 


1,000 under 1.500 


96.22 


1,500 under 2,000 


97.93 


2,000 under 3,000 


98.51 


3,000 under 4.000 


98.86 


4,000 under 5,000 


99.08 


5,000 and over 


100.00 






Total, individual returns with 


726, 120 
615 


100.00 
(«) 










Individual returns with no net 






















726, 735 


( 6 ) 





















i Unlike basic table 3 in Statistics of Income for 1937, Part 1 (119-121), this table excludes taxable fiduciary 
returns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly 
filed on Form 1040 instead of Form 1041 (see table 10, pp. 171-179). Data for individual returns with no net 
income are included in this table for the first time. 

2 Includes returns with zero net income (total income equals total deductions). 

3 Reported on 26 returns with net long-term capital loss on which the tax, computed on net income before 
the deduction of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

* Less than one-hundredth of 1 percent. 

s Deficit. 

6 Percentage not computed. 



290429—41—8 



108 



STATISTICS OF INCOME 



Table 4. — Individual returns 1 with net income (excluding fiduciary returns), 1938, 
by States and Territories and by sex and family relationship: number of returns 
and net income 

[Money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-6 and 

14-15] 



States and Territories 



(1) 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

Maryland 

M assachusotts 

Michigan 

M innesota 

M ississippi 

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 4 

West Virginia 

Wisconsin 

Wyoming 

Total, individual returns with net in 
come 



Total 



Number of 
returns 



(2) 



39, 010 

20, 447 

19, 627 

523. 696 

41, 701 

130,880 

16. 557 

113,425 

55. 940 

58, 003 

18,893 

13.223 

493, 482 

121.539 

74, 900 

51.730 

53, 453 

59, 019 

26. 676 

134,637 

297, 6S0 

273. 678 

107. 238 

19,823 

143, 662 

27. 976 

39, 209 
8, 969 

20. 936 

301.186 

13, 690 

1,052.402 

50, 224 

11.418 

313.532 

55, 762 

53, 584 

499, 885 

40, 758 
24, 000 
1 1 . 757 
57, 861 

205, 254 
19, 177 
13.563 
72,217 

L06, 172 
53, 744 

146, 565 
11,716 



6, 150, 776 



Net income 
(3) 



115,142 

56, 359 
63, 019 

1, 569, 974 
128, 503 
403, 409 

81,038 
319, 469 
215, 232 
193,294 

61,978 

34. 180 
1,601,814 
342, 298 
189, 057 
1.32, 992 
158,724 
191, 541 

97, 189 
420, 583 
853, 712 
798. 203 
295, 419 

57, 552 
442, 525 

71,630 
110,679 

27, 989 

59, 102 
916. 935 

39,211 

3, 372, 618 

162. 122 

27. 331 

1,000.585 

168.181 

134,810 

1, 544, 736 

120, 063 

66, 594 

27, 951 
L83.788 
683,096 

52, 717 

36, 258 
227, 144 
275. 061 
145. 922 
351.739 

31, 400 



18,060,929 



Joint returns of husbands, 
wives, and dependent 
children, and returns of 
either husband or wife 
when no other return is 
filed 



Number of 
returns 

(4) 



21,073 

9,849 

12, 368 

213.009 

21.059 

48. 673 

7,482 

41, 170 

30. 835 

31.947 

8,783 

5,887 

228, 240 

59, 335 

39, 750 

29. 450 

24, 529 

25, 054 

12,051 

64. 307 

115,938 

132, 080 

50. 283 

11.494 

69. 004 

13,035 

21,527 

3,878 

8,982 

139. 331 

6,823 

485. 084 

26, 727 

6.573 

160.061 

32. 542 

24, 931 
261, 722 

16,418 
12,890 

6,402 
29. 758 
99, 248 
10. 702 

5,643 
36, 731 
43, 425 

25, 657 
68, 191 

6,095 



2, 866, 026 



Net income 
(5) 



73. 957 
28, 276 
42, 283 
653, 590 
72, 460 
185, 183 
31,245 
156, 254 
116,069 
118,409 
33. 243 

17, 364 
889, 055 
203, 642 
119,705 

86, 142 
87, 760 
78, 462 

42. 392 
240, 607 
412, 942 
464, 167 
167,338 

37, 795 
246, 339 

43, 262 
71, 879 
12, 226 
30, 935 

517, 557 

19, 847 

1, 772. 833 

95, 440 

18. 443 
573, 590 
105, 829 

80. 358 

901,324 

60. 090 

42, 768 

18, 234 
111,600 
300, 582 

33, 869 

19, 736 
134. 931 
128,440 

84. 894 

198, 108 

19, 871 



10,001,384 



For footnotes, see ) 110. 



STATISTICS OF INCOME 



109 



Table 4. — Individual returns ' with net income (excluding fiduciary returns), 1938, 
by States and Territories and by sex and family relationship: number of returns 
and net income— Continued 

[Money figures in thousands of dollars] 



States and Territories 



(1) 



Separate returns of husbands and 
wives 



Men 2 



Women 2 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia- 
Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

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 

Wyoming 



Number 
of re- 
turns 

(6) 



Total, individual 
returns with net 
income 



731 

894 

361 

16, 970 

950 

3,419 

654 

2,329 

2,125 

1,415 

491 

645 

10, 575 

1,989 

1,292 

1,024 

1,320 

3,308 

674 

3,111 

8,503 

4,708 

2,177 

434 

3,187 

278 

661 

287 

536 

6,434 

659 

26, 645 

1,466 

148 

6,413 

1,599 

828 

9,788 

877 

528 

162 

1,092 

10, 389 

378 

225 

1,440 

4,276 

905 

3,170 

184 



Net in- 
come 



(7) 



7,658 
3,106 
3,687 
69, 197 
11,181 
45, 839 

23, 370 
19, 944 
26, 436 
16, 469 

6,699 

1,935 

151,472 

24, 400 
10, 552 

8, 715 

13, 287 
10, 960 
23, 712 
33, 326 
83, 693 
62, 880 
26, 331 

3,714 

45, 096 

2, 391 

6,338 

2, 359 

5,053 

77, 527 

2,046 

372, 490 

18, 920 

899 

85, 785 

15,741 

7,112 

125, 999 

10, 297 

4,088 

1,125 

14, 568 
31,736 

3,429 
1,919 
16, 083 

15, 328 
9,334 

28, 327 
1,384 



Heads of families 



Single men and 
married men not 
living with wives 



Number 
of re- 
turns 

(8) 



805 

915 

406 

17, 332 

928 

3,646 

715 

2,675 

2,142 

1,334 

526 

657 

9,971 

1,975 

1,154 

983 

1,375 

3,315 

657 

3,240 

8,680 

4,535 

1,889 

491 

2,880 

273 

670 

292 

557 

7,047 

633 

27, 310 

1,527 

164 

6,152 

1,761 

781 

9, 248 

867 

550 

137 

1,102 

10, 770 

344 

237 

1,315 

4, 272 

855 

2,881 

172 



Net in- 
come 



(9) 



3,146 
2,975 
1,790 

67, 482 
4,962 

21, 238 
6,955 
9,579 

14,316 
7,099 
2,319 
1,900 

49, 747 
9, 279 
4,247 
3,401 
4,861 

11,0.54 
2, 865 

14, 782 
31,998 
21,958 

8,591 
1,760 

15, 350 
934 

2,275 
1,252 
2,206 

33, 879 

1,801 

147. 357 

7.082 

432 

31.S73 
7,344 
2,779 

48, 070 

4,954 

1,353 

379 

4,951 

32,631 
1, 350 
1,123 
7,342 

14, 385 

3.310 

9,089 

623 



Number 
of re- 
turns 

(10) 



693, 027 



2,020 
1,044 
1,294 

26, 344 
3,237 

10, 02S 
814 
4,210 
3,256 
3,468 
1,260 
5S6 

37, 076 
8,763 
4,747 
2,735 
4,670 
4,010 
1,938 
7,262 

21, 749 

15, 628 
7,262 
1,345 

10. 913 

'.'. 1x7 

2,040 

298 

1,386 

25, 019 
632 

72, 105 

2,971 

711 

22, 130 
2,988 
3.185 

32, 658 
3,676 
1,790 
781 
3,755 
7,701 
1,534 
1, 145 
5,046 
4,291 
4,138 
6, 514 
733 



Net in- 
come 



(ID 



5,613 

2,377 

4,213 

66, 919 

8.739 

24, 009 

2, 961 

13, 687 

10, 587 

10, 239 

3,064 

1,225 

101, 734 

23, 009 

10, 853 

6,271 

11,620 

9,815 

4,771 

22, 501 

54, 557 

41, 487 

18, 598 

3,671 

27. 635 

4,761 

5,414 

773 

3,314 

63, 500 

1, 588 

198, 861 

9,445 

1,792 

56, 818 

8,345 

7,244 

85, 736 

8, 843 

4,817 

1,697 

10, 798 

20, 818 

3,776 

2,470 

13, 095 

9,399 

9,237 

15, 691 

1,985 



Single women 
and married wo- 
men not living 
with husbands 



395,073 1,040,372 



Number 
of re- 
turns 

(12) 



959 

404 

522 

18, 670 

1,162 

5. 075 
601 

6, 281 
1,885 
1, 963 

409 
2,230 
18, 039 
2,952 
1,760 
1,264 
2,469 
2,537 
751 

4, 355 

11, 735 
6, 053 
3,014 

572 
i,..; 19 

878 
1,071 

149 

623 

12, 443 
331 

43, 191 

1, 335 

272 

10, 022 
1, 957 
1,607 

13, 872 
1,733 

732 

251 

1,720 

5, 623 
525 
608 

2,702 
2,557 
1,247 
2,789 
184 



210, 143 



For footnotes, see p. 110. 



110 



STATISTICS OF INCOME 



Table 4. — Individual returns l with net income {excluding fiduciary returns), 1988 \ 
by States and Territories and by sex and family relationship: number of returns, 
and net income — Continued 

[Money figures in thousands of dollars] 





Not heads of families 


Communi 
retu 




States and Territories 


Single men and mar- 
ried men not living 
with wives 


Single women and mar- 
ried women not living 
with husbands 


ty property 
rns 3 


(1) 


Number of 
returns 

(14) 


Net in- 
come 

(15) 


Number of 
returns 

(16) 


Net in- 
come 

(17) 


Number of 
returns 

(18) 


Net in- 
come 

(19) 


Alabama 


8,337 
4,740 
2,699 
130, 192 
9,180 

35, 867 
3,457 

22, 626 
8,886 

10,315 

5, 377 

2,168 

118.689 

32.313 

16, 596 
9,849 

11,869 

10, 557 
5,902 

33, 118 

68, 218 

74, 931 

20, 754 
3, 255 

31,277 
8,374 
7, 393 
3,071 
4,969 

66, 264 

2,643 

220, 424 

8, 906 

2,292 

88, 982 
8,385 

15, 570 
110,034 

10, 048 
4,501 

2, 565 
12,478 
37, 436 

3, 983 
3. 330 

16,080 
32, 225 
15, 858 
41, 770 
3,632 


14, 105 

8,432 

5, 934 

244, 799 

16, 480 

64, 445 
8,207 

44, 745 

20, 030 

21, 668 
9,599 
3,739 

237, 274 
52, 005 

25, 753 
15, 995 

22, 238 
20, 986 
11,137 
60, 612 

126, 752 
134, 074 
43, 323 

5, 693 
58, 238 

14, 172 
13, 508 

5,825 
8,328 

116,531 
5,055 

426, 063 

15, 637 
3,489 

146, 151 

16, 207 
24, 051 

216, 539 

17, 439 
7, 395 
3,923 

24, 554 
77, 806 

6, 160 
5, 518 

32, 825 
52. 068 

26, 940 
62, 955 

5, 800 


5,085 
1,888 
1,977 

78, 320 
5,185 

24, 172 
2,834 

34, 134 

6,811 

7, 561 

2,047 

639 

70, 892 

14,212 
9,001 
6,425 
7,221 
6,462 
4,703 

19, 244 
62, 857 
35.713 
15, 859 

2,232 

20, 342 
2. 951 
5,847 

655 

3,883 

44, 648 

1, 361 

177, 643 

7,292 

1, 258 

49, 772 

6, 530 
6,682 

62, 563 
7,139 
3, 009 

1, 459 

7, 956 
20,712 

1,711 

2, 375 
8,903 

12, 090 
5,084 

21, 250 
716 


8,517 

3,314 

3,826 

149. 443 

12, 010 
50, 325 

6, 592 
61, 484 
22,031 
14, 781 

5,676 

1,156 

133,319 

23, 983 

14, 638 

9,990 

13, 442 
11,911 
10, 221 
37, 994 

119,940 

60, 488 

25, 010 

3,710 

37, 674 

4, 556 

9, 150 

1,388 

7,855 

80, 976 

2, 588 

352, 306 

12,113 

1,753 

85, 204 

10, 545 

10, 421 

133, 269 

14, 587 
4,583 
2, 145 

13, 542 
42,015 

2,900 

4,334 
17,013 
19, 596 

9,503 
32, 171 

1,208 






Arizona..- ... _._--.._ 


713 


6,832 


California .. 

Colorado . - ... ._. 


22, 859 


274, 429 




















Florida 






Georgia . .. 












Idaho.. 

Illinois _ .. 


411 


3,489 


Indiana 












Kansas . . ... 






Kentucky.. . .. 






Louisiana - ... . 


3,776 


43, 137 






Maryland-. ._ ... 












Michigan . 







Minnesota . 










Missouri .. . . ._ .. 






Montana 






Nebraska. .. 






Nevada 


339 


3, 712 


Nw Hampshire.. . 




New Jersev 






New Mexico 


608 


5,472 


New York . _ . . . 




North Carolina 






North Dakota 






Ohio 






Oklahoma... . 






Oregon 






Pennsylvania 






Rhode Island 






South Carolina... 






South Dakota. 






Tennessee . 






Texas. 


13,375 


162, 973 


Utah 


Vermont 






Virginia 






Washington «... 
West Virginia 


3,336 


30, 775 


Wisconsin 






Wyoming 












Total, individual re- 
turns with net income. 


1, 418, 385 


2,611,197 1 


909, 935 


1, 717, 196 


45, 417 


530, 819 



i Unlike basic tabic 4 in Statistics of Income for 1937, Part 1 (pp. 122-1241, excludes taxable fiduciary re- 
turns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly 
filed on Form 1040 instead of Form 1041. Data for individual returns with no net income are not classified 
by sex and family relationship. 

2 An unequal number of separate returns for husbands and wives results from (1) the use of the sample 
method on returns with nel income under $5,000 as the net income of one spouse may be $5,000 or over and 
that of the other spouse under $5,0(H) (see description of sample, pp. 14-15) and (2) certain cases in which in- 
complete or inaccurate answers to questions t and 5 on p. 4, Form 1040 and on the back of Form 1040A, make 
it impossible to identify the reurns as separate returns. 

s See text, p. 20. 

4 Includes Alaska. 



STATISTICS OF INCOME 



111 



Table 5. — Individual returns 1 with net income (excluding fiduciary returns), 1988, 
by net income classes and by sex and family relationship: number of returns, net 
income, personal exemption, and credit for dependents 

[Net income classes and money figures in thousands of dollars] 

[For text 'defining certain items and describing methods of tabulating and estimating data, see pp. 1-6 

and 14-15] 













Joint returns of husbands, wives, and 










dependent children and returns of 












either husband or 


wife when 


no other 












return is filed 






Net income classes 




















Number 


Net in- 
come 


Personal 


Credit 


Number 


Net in- 


Personal 


Credit 




of re- 


exemp- 


for de- 


of re- 


exemp- 


for de- 




turns 


tion 


pendents 


turns 


come 


tion 


pendents 


(1) 


(2) 


(3) 


W 


(5) 


(6) 


(7) 


(8) 


(9) 


Under 1 (est.) <___ 


339, 369 


236, 843 


510, 499 


33, 986 


95, 417 


57, 445 


233, 864 


24, 210 


Under 1 (est.) 


27, 222 


13, 896 


986 


160 


125 


75 


42 


11 


1 under 2 (est.) *.„ 


1,241,979 


1, 686, 273 


2, 209. 848 


241, 953 


337, 227 


526, 194 


810, 732 


80, 191 


1 under 2 (est.) 


1,181,299 


1,728,604 


1, 168, 192 


15, 199 


7,106 


11,940 


9,155 


111 


2 under 2.5 (est.) «__ 


466, 146 


1, 060, 877 


1, 153, 779 


121, 464 


366, 947 


840, 293 


911,900 


93, 647 


2 under 2.5 (est.)--- 


205, 450 


454, 901 


208, 367 


10, 594 


6,918 


15, 660 


11,428 


196 


2.5 under 3 (est.) 4 _. 


732, 327 


1, 986, 297 


1, 829, 237 


310, 587 


676, 904 


1, 836, 229 


1,691,808 


286, 626 


2.5 under 3 (est.)... 


205, 960 


576, 993 


366. 302 


7.015 


103, 937 


298, 308 


255, 328 


577 


3 under 4 (est.) 4 ___ 


356, 083 


1,172.918 


890, 340 


309, 026 


333, 608 


1, 099, 248 


834, 790 


290, 836 


3 under 4 (est.) 


495, 613 


1, 723, 661 


1, 084, 897 


82, 520 


363. 870 


1, 267, 514 


905, 838 


66, 826 


4 under 5 (est.) *... 


18, 542 


79, 075 


46, 322 


30, 160 


17, 300 


73. 742 


43, 359 


28, 393 


4 under 5 (est.) 


297, 241 


1, 322, 947 


659, 492 


107, 173 


217, 645 


967, 752 


542, 692 


91,358 


5 under 6 4 


666 
162, 978 
101, 823 
65, 960 
45, 575 
33.929 
25, 458 


3.554 
889, 764 
657, 877 
492, 288 
386, 389 
321,551 
266, 762 


1,653 
358, 339 
226. 026 
142,485 
97, 523 
72, 013 
53, 932 


1,559 
73, 398 
45. 160 
29, 974 
20, 300 
14, 781 
10, 888 


571 
113,534 
67, 287 
40. 556 
26, 307 
18, 755 
13. 604 


3.040 
619, 392 
434, 409 
302, 494 
222, 954 
177. 636 
142. 490 


1,437 
283, 016 
170, 766 
101,119 
65, 551 
46, 707 
33, 892 


1,407 


5 under 6 


61, 987 


6 under 7 


36. 831 


7 under 8.. 


23, 458 


8 under 9 


15, 232 


9 under 10 


10, 729 


10 under 11. . 


7. 687 


11 under 12 


20, 251 


232, 507 


42, 393 


8,656 


10.215 


117,229 


25, 443 


5.872 


12 under 13 


16, 266 


202, 986 


34, 109 


7. 031 


7,852 


97, 936 


19,542 


4,592 


13 under 14 


13, 235 


178,535 


27, 749 


5,672 


6,326 


85, 324 


15,769 


3, 702 


14 under 15 


11,095 


160, 702 


23, 232 


4,763 


5,111 


74, 026 


12, 727 


2,964 


15 under 20 


34, 247 


588, 056 


71,267 


14. 625 


14, 286 


244, 461 


35, 600 


8,419 


20 under 25 


17,388 


386, 936 


35. 771 


7, 158 


6,228 


138, 228 


15,525 


3,581 


25 under 30 


9,868 


269, 468 


20, 130 


4,101 


3,087 


84, 162 


7,683 


1,861 


30 under 40 


10, 457 


358, 599 


21, 208 


4,211 


2,742 


93, 426 


6,810 


1,613 


40 under 50 


5,105 


227, 371 


10. 266 


2,018 


1,159 


51,423 


2,877 


663 


50 under 60... 


2,809 


153,282 


5,648 


1,113 


551 


29, 978 


1,366 


349 


€0 under 70 


1,697 


109, 588 


3,400 


692 


276 


17, 783 


682 


146 


70 under 80 


1,112 


83, 032 


2,233 


431 


195 


14, 605 


481 


114 


80 under 90 


800 


67, 747 


1,597 


307 


111 


9,416 


271 


65 


flOunder 100 


526 


49. 853 


1,012 


186 


59 


5.573 


146 


24 


100 under 150. 


1,249 


149. 052 


2,460 


423 


141 


16, 588 


345 


84 


150 under 200... 


395 


68, 056 


782 


123 


24 


4.143 


60 


12 


200 under 250. 


219 


48, 536 


424 


68 


19 


4,211 


48 


11 


250 under 300.. 


103 


27, 862 


212 


38 


7 


1,938 


17 


8 


300 under 400.. 


124 


42, 958 


242 


28 


8 


2,880 


18 


2 


400 under 500 


58 
71 


26. 074 
43.412 


114 
149 


16 
19 


1 
6 


431 
3,790 


2 
15 




500 under 750 


2 


750 under 1,000.. 


31 


27, 178 


56 


4 


1 


758 


3 


( 5 ) 


1,000 under 1,500.. 


27 
14 


33, 592 
24, 190 


57 
32 


8 
3 










1,500 under 2,000... 


2 


3,439 


5 


1 


2,000 under 3,000 . 


4 


10. 285 


10 


( 5 ) 


1 


2,820 


3 




3,000 under 4,000.. 


1 


3,525 


1 












4,000 under 5,000 


1 


4,273 


1 












5,000 and over . _ . 


3 


21, 804 


6 


1 




















Nontaxable re- 


















turns * 


3, 155, 112 


6, 225, 837 


6,641,677 


1, 048, 735 


L, 827, 974 


4. 436, 192 


4, 527, 889 


805, 310 


Taxable returns... . 


2, 995, 664 


12, 435, 092 


4, 743, 112 


478, 858 


1, 038, 052 


5, 565, 193 


2, 570, 969 


349, 088 


Total, individ- 


















ual returns 


















with net 


















income 


6, 150, 776 


18, 660, 929 


11,384,789 


1, 527, 594 


2, 866, 026 


10, 001, 384 


7, 098, 858 


1, 154, 398 



For footnotes, see p. 115. 



112 



STATISTICS OF INCOME 



Table 5. — Individual returns 1 with net income (excluding fiduciary returns) , 1938, 
by net income classes and by sex and family relationship: number of returns, net 
income, personal exemption, and credit for dependents — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



(1) 



Separate returns of husbands and wives 



Men 2 



Number 
of re- 
turns 

(10) 



Net in- 
come 



(ID 



Personal 
exemp- 
tion 

(12) 



Credit 
for de- 
pend- 
ents 

(13) 



Women 2 



Number 
of re- 
turns 

(14) 



Net in- 
come 



(15) 



Personal 
exemp- 
tion 

(16) 



Credit 
for de- 
pend- 
ents 

(17) 



Under 1 (est.) «.... 

Under 1 (est.) 

1 under 2 (est.) «... 

1 under 2 (est.) 

2 under 2.5 (est.) *. 

2 under 2.5 (est.)._. 
2.5 under 3 (est.) *. 
2.5 under 3 (est.).-. 

3 under 4 (est.) 4 .. . 

3 under 4 (est.) 

4 under 5 (est.) 4 ... 

4 under 5 (est.) 

5 under 6*__ 

5 under 6 

6 under 7.. 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

2") under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300.. 
300 under 400. 

400 under 500 

500 under 750 

750 under 1,000.. 
1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000 _. 
3,000 under 4,000 . 
4,000 under 5,000... 
5,000 and over 



Nontaxable returns *. 
Taxable returns 



5,832 
2,308 
9,471 
8.704 
2,520 
7. 371 
1,449 
7,621 
804 

18. 649 
96 

17, 431 
13 
7,786 
7,213 
6,222 
5,220 
4.401 
3,694 
3,203 
2,923 
2.376 
2.211 
7,966 
4,783 
3,021 
3,616 

i.ss; 

1,109 

699 

457 

343 

226 

546 

189 

96 

50 

57 

27 

27 

9 

18 

6 

1 

1 



3,357 
1,271 

13, 595 

14. 162 
5.620 

16. 629 

3,930 

21,014 

2,660 

65, 560 

416 

78, 097 

71 

42, 785 

46, 817 

46, 535 

44,305 

41, 758 

38, 749 

36, 793 

36. 484 

32, 045 

32. 025 

137, 464 

106, 915 

82, 505 

124, 457 

84.304 

60.568 

45. 080 

34. 159 

29.044 

21, 399 

65,190 

32, 308 

21, 186 

13, 506 

19.700 

12, 293 

16. 499 

7, 795 

22, 644 

10, 373 

2,444 

3,525 



6,647 

142 

14, 162 

7,468 

5.238 

S. 077 

3. 379 

9,015 

1,916 

25, 852 

210 

25, 955 

27 

15.611 

15. 684 

13, 879 

11,802 

9,972 

8,474 

7, 359 

6,735 

5.501 

5,160 

18. 659 

11.318 

7.173 

s. i ;.v.) 

4,512 

2.671 

1.671 

1,099 

825 

534 

1,312 

456 

229 

124 

129 

66 

65 

23 

44 

15 

3 

1 



736 

35 

1,868 

552 

847 

1.045 

592 

1,654 

664 

4,361 

140 

5,491 

20 

2.383 

2,471 

2,292 

2,067 

1.844 

1.524 

1,340 

1.280 

1.028 

957 

3. 654 

2.185 

1,387 

1.672 

869 

488 

350 

197 

151 

97 

219 

75 

33 

24 

16 

10 

10 



8,728 

24, 200 

10. 852 

25. 085 

1,207 

11,223 

660 

9,975 

273 

19, 170 

37 

15, 508 

10 

4,735 

3,384 

2,663 

2,082 

1,657 

1,302 

1,143 

911 

843 

644 

2,311 

1,321 

798 

932 

478 

260 

175 

123 

89 

63 

150 

52 

31 

11 

19 

8 

13 

9 

2 

4 

2 



5,021 

12, 136 

14, 637 

37, 810 

2,659 

25, 132 

1,784 

27, 395 

913 

67,202 

157 

69,231 

55 

25, 877 

21,897 

19,908 

17. 657 

15. 702 

13. 658 

13, 138 

11,373 

11,388 

9.341 

39, 726 

29, 340 

21,886 

32,171 

21.223 

14,175 

11.356 

9,149 

7,532 

5,989 

17. 967 

9.011 

6, 783 

2.949 

6.524 

3,628 

7,673 

7.701 

2.220 

6,933 

5,021 



8,477 

537 

14, 942 

10, 147 

2,468 

7,178 

1, 517 

7,695 

636 

18. 442 

86 

17. 534 

23 

4.564 

3.560 

2,850 

2,394 

1,913 

1.516 

1,370 

1.090 

1,108 

768 

3,077 

1,775 

1.146 

1,332 

656 

384 

257 

186 

127 

87 

263 

101 

49 

21 

39 

18 

30 

18 

3 

10 
5 



15,906 



20. 185 
132, 469 



29, 64S 
1, 564, 292 



31. 580 
236, 276 



4.866 
41, 768 



21, 767 
131,376 



28. 149 
92, 247 



( 5 ) 



Total, individual re- 
turns with net in- 
come 



152.654 



1, 593. 939 



267, 857 



46,635 153,143 



693, 027 



120, 396 



For footnotes, see p. 115. 



STATISTICS OF INCOME 



113 



Table 5. — Individual returns x with net income (excluding fiduciary returns), 1988, 
by net income classes and by sex and family relationship: number of returns, net 
income, personal exemption, and credit for dependents— Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



(1) 



Under 1 (est.) «__.. 

Under 1 (est.) 

1 under 2 (ext.) 4 ... 

1 under 2 (est.) 

2 under 2.5 (est.) «_ 

2 under 2.5 (est.)... 
2.5 under 3 (est.) K 
2.5 under 3 (est.)... 

3 under 4 (est.) *... 

3 under 4 (est.) 

4 under 5 (est.) 4 -._ 

4 under 5 (est.) 

5 under 6 * 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25_ 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 . 

70 under 80 

80 under 90.. 

90 under 100 

100 under 150 

150 under 200. 

200 under 250... 

250 under 300 

300 under 400. . 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500... 
1,500 under 2,000 
2,000 under 3,000 .. 
3,000 under 4,000 .. 
4,000 under 5,000... 
5,000 and over 



Nontaxable returns 4 . 
Taxable returns 



Total, individual re- 
turns with net in- 
come. 



Heads of families 



Single men and married men not 
living with wives 



Number 
of re- 
turns 

(18) 



13,415 

3 

186, 874 

627 

67, 667 

799 

42, 203 

5,010 

17, 079 

20, 680 

864 

13, 305 

41 

7, 650 

4,872 

3,137 

2,184 

1,587 

1,178 

869 

745 

573 

493 

1,390 

637 

339 

365 

173 

96 

69 

37 

35 

13 

30 

10 

8 

5 

6 

1 

3 



328. 143 
66, 930 



395, 073 



Net in- 
come 

(19) 



8,816 

2 

283, 005 

1.089 

150,817 

1,787 

114,231 

14, 320 

55, 942 

72, 490 

3,691 

59,316 

220 

41, 766 

31, 486 

23, 394 

18. 534 

15, 040 

12, 339 

9,982 

9,303 

7,720 

7,133 

23, 736 

14, 190 

9,251 

12, 505 

7,756 

5,276 

4,425 

2,770 

2,945 

1,225 

3,575 

1,691 

1,717 

1,383 

2.018 

465 

1,864 



1,153 



616, 723 
423, 648 



Personal 
exemp- 
tion 



(20) 



32, 967 

1 

461, 874 

792 

168, 465 

1,217 

105, 382 

12, 052 

42, 660 

51,212 

2,149 

33, 063 

103 

19, 004 

12, 113 

7,791 

5,438 

3,947 

2,932 

2,154 

1,852 

1,429 

1,221 

3,443 

1,585 

843 

908 

430 

239 

172 

92 

88 

33 

75 

25 

20 

13 

15 

3 



813, 599 
164,211 



Credit 
for de- 
pendents 

21) 



3,011 



41,921 

54 

18, 084 

102 

18, 526 

132 

14, 270 

4,734 

1,396 

5,519 

104 

3,689 

2,314 

1,559 

1,046 

768 

525 

429 

363 

282 

247 

660 

324 

178 

196 

90 

48 

38 

15 

17 

6 

17 

6 

4 

1 

2 

(«) 



97,311 
23, 368 



185, 904 
24, 239 



304, 104 
168, 890 



460, 281 
56, 272 



120, 679 



Single women and married women 
not living with husbands 



Number 
of re- 
turns 

(22) 



8,815 

24 

138, 058 

2,288 

24,430 

326 

10, 451 

1,168 

3,947 

6,184 

182 

4,240 

21 

2,436 

1,650 

1,160 

833 

618 

467 

388 

328 

244 

227 

660 

335 

194 

196 

97 

55 

33 

15 

14 

12 

25 

8 

4 

2 

1 

1 

4 

1 

1 



210, 143 



Net in- 
come 

(23) 



5,949 

20 

201, 979 

3,401 

54, 084 

732 

28,311 

3,347 

12, 874 

21, 792 

793 

18, 943 

114 

13, 301 

10, 666 

8,665 

7,077 

5,864 

4,884 

4,453 

4,090 

3,298 

3,284 

11, 288 

7,431 

5,290 

6,700 

4,319 

2,998 

2,133 

1,111 

1,200 

1,145 

3,010 

1,458 

888 

512 

363 

470 

2,612 

975 

1,171 



472, 994 



Personal 
exemp- 
tion 

(24) 



21, 477 

11 

341,459 

2,354 

60,878 

513 

26, 099 

2,787 

9,860 

15, 275 

456 

10, 582 

52 

6,005 

4,070 

2.873 

2,057 

1,533 

1,159 

962 

812 

609 

563 

1,628 

483 

488 

242 

134 

83 

37 

35 

30 

63 

20 

10 

5 

3 

3 

10 

3 

3 



516, 553 



Credit 
for de- 
pend- 
ents 

(25) 



2,143 

1 

29,521 

46 

6,101 

41 

4,137 

25 

2,829 

1,524 

202 

1,507 

19 

1,000 

640 

464 

336 

228 

198 

175 

130 

99 

105 

291 

142 

97 

83 

47 

27 

28 

8 

5 

10 

11 

3 

4 

( 5 ) 

( 5 ) 



44,953 
7,276 



52, 229 



For footnotes, see p. 115. 



114 



STATISTICS OF INCOME 



Table 5. — Individual returns x with net income (excluding fiduciary returns), 1938, 
by net income classes and by sex and family relationship: number of returns, net 
income, personal exemption, and credit for dependents — Continued 

[Net income classes and money figures in thousands of dollars] 





Not heads of families 




Single men and married men not living 
with wives 


Single women and married women 
not living with husbands 


Net i ncome classes 
(1) 


Number of 
returns 

(26) 


Net in- 
come 

(27) 


Personal 
exemption 

(28) 


Credit 
for de- 
pend- 
ents 

(29) 


Number 
of re- 
turns 

(30) 


Net in- 
come 

(31) 


Persona] 
exemp- 
tion 

(32) 


Credit 
for de- 
pend- 
ents 

(33) 


Under 1 (est.) < 

Under 1 (est.) 


115,072 

200 

311,395 

716, 489 

2,674 

123,611 

436 

51, 968 

188 

42, 857 

29 

17, 666 

3 

9,002 

5,678 

3,882 

2,753 

2,243 

1,689 

1,354 

1, 098 

865 

779 

2,424 

1,245 

766 

796 

395 

240 

140 

85 

61 

55 

126 

52 

24 

12 

12 

3 

7 

6 

3 

1 


85, 428 

152 

363, 429 

1,052,681 

5,855 

272, 748 

1,191 

141,059 

649 

146, 168 

131 

78, 595 

17 

49, 161 

36, 094 

28, 993 

23,311 

21, 305 

17, 705 

15. 557 

13, 707 

11,671 

11,278 

41, 709 

27, 715 

20, 973 

27, 258 

17,601 

13, 196 

9,062 

6,382 

5,139 

5,233 

15. 106 

9,023 

5.433 

3,246 

4,167 

1,373 

4, 334 

5.518 

3, 591 

1,758 


115, 101 

110 

316, 282 

717, 232 

3,827 

124, 577 

735 

52. 960 

286 

43, 895 

30 

18, 085 

3 

9,215 

5.798 

3.982 

2,810 

2,302 

1,719 

1,384 

1,126 

882 

796 

2, 466 

1,276 

781 

807 

403 

241 

145 

86 

61 

57 

133 

54 

24 

12 

12 

3 

7 

6 

3 

1 


2,001 

1 

51,921 

9,279 

2,172 

6,699 

349 

3,165 

187 

2,861 

2 

1,203 

( 5 ) 

671 

382 

264 

202 

139 

131 

109 

79 

57 

59 

184 

96 

78 

69 

38 

20 

20 

13 

12 

7 

13 

8 

2 

1 


92, 090 

362 

248, 102 

421, 000 

701 

55, 202 

224 

26, 281 

184 

24,203 

34 

11,446 

6 

6,519 

4,346 

3,037 

2,444 

1,899 

1,493 

1,244 

987 

851 

691 

2,375 

1,293 

766 

867 

425 

261 

135 

91 

78 

47 

133 

48 

24 

10 

14 

6 

9 

5 


70, 827 

240 

283, 432 

607, 521 

1,548 

122, 213 

621 

71, 550 

632 

82, 935 

146 

51,012 

31 

35, 674 

28. 126 

22, 704 

20. 732 

17,990 

15, 640 

14, 289 

12,335 

11,476 

10. 009 

40, 834 

28, 724 
20, 886 

29, 752 
18, 942 

14, 239 
8.736 
6,758 
6,603 
4,435 

15, 926 
8,378 
5,339 
2,719 
4,870 
2,622 
5,356 
4,431 


91. 965 

143 

250, 397 

421. 045 

1,003 

55, 376 

316 

26, 465 

192 

24,383 

33 

11, 581 

6 

6.573 

4.391 

3.074 

2.465 

1,920 

1,508 

1,256 

995 

860 

693 

2,399 

1,312 

770 

871 

426 

263 

136 

93 

77 

48 

133 

48 

24 

10 

15 

6 

9 

5 


1,411 
4 


1 under 2 (est.) * 

1 under 2 (est.) 

2 under 2.5 (est.) * 

2 under 2.5 (est.) 

2.5 under 3 (est.) * ' 

2.5 under 3 (est.) 

3 under 4 (est.) 4 _._ ... 

3 under 4 (est.) 

4 under 5 (est.) 4 

4 under 5 (est.) 

5 under 6 4 


35, 136 

4,603 

361 

1,987 

146 

839 

25 

773 

1 

425 

3 


5 under 6 


312 


6 under 7,. 


169 


7 under 8,. __ 


119 


8 under 9 


111 


9 under 10 


82 


10 under 11 


52 


11 under 12 


50 


12 under 13 


53 


13 under 14... 


44 


14 under 15 


35 


15 under 20.. 


160 


20 under 25 


71 


25 under 30 


58 


30 under 40 


79 


40 under 50 


33 


50 under 60 


22 


60 under 70.. 


6 


70 under 80 


7 


80 under 90 _. 


3 


90 under 100 


2 


100 under 150.. 


11 


150 under 200.. 


3 


200 under 250 


5 


250 under 300.. 


1 


300 under 400.. 


( 5 ) 


400 under 500.. 




500 under 750. _ 


( 6 ) 


750 under 1,000. ... 
1,000 under 1,500 .. 




1,500 under 2,000 . 
2,000 under 3,000 .. 




1 


1,686 


1 




3,000 under 4,000 .. 


















4,000 under 5,000... 










1 


4,273 


1 




5,000 and over 


1 


5.898 


1 


















Nontaxable returns 4 _. 
Taxable returns 


429, 797 

988, 588 


456. 701 
2, 154, 496 


436. 264 
993, 451 


56. 633 
25, 861 


341,341 

568, 594 


357, 23S 
1, 359, 959 


343, 913 

569, 374 


37. 0S4 
10,118 


Total, individual 
returns with 
net income 


1,418,385 


2,611,197 


1, 429, 716 


82, 494 


909,935 


1,717,196 


913,288 


47, 202 



For footnotes, see p. 115. 



STATISTICS OF INCOME 



115 



Table 5. — Individual returns 1 with net income (excluding fiduciary returns), 19S8, 
by net income classes and by sex and family relationship: number of returns, net 
income, pergonal exemption, and credit for dependents — Continued. 

[Net income classes and money figures in thousands of dollars] 





Community property returns 3 


Net income classes 
(1) 


Number of 
returns 

(34) 


Net 
income 

(35) 


Personal 
exemption 

(36) 


Credit for 
depend- 
ents 

(37) 


Under 1 (est.) * 










Under 1 (est.)--- 










1 under 2 (est.) «_ 










1 under 2 (est.) 










2 under 2.5 (est.) * 










2under 2.5 (est.) 










2.5 under 3 (est.) * 










2.5 under 3 (est.) 










3 under 4 (est.) * 










3 under 4 (est.). 










4 under 5 (est.) 4 . 










4 under 5 (est.) 












1 

11,316 

7,393 

5,303 

3,752 

2,769 

2,031 

1,835 

1,422 

1,157 

939 

2,835 

1,546 

897 

943 

491 

237 

170 

109 

69 

51 

98 

12 

13 

6 

7 

11 

2 


6 
61,808 
47, 782 
39, 596 
31,819 
26, 256 
21,296 
21, 066 
17, 758 
15, 613 
13, 606 
48, 840 
34, 394 
24, 516 
32, 329 
21, 801 
12, 852 
11,013 
8,098 
5,868 
4,854 
11,692 
2,043 
2,979 
1,608 
2,437 
4,791 
1,283 


2 

14, 349 

9,645 

6,918 

5,005 

3,720 

2,733 

2,464 

1,956 

1,592 

1,304 

3,994 

2,150 

1,251 

1,335 

720 

350 

254 

159 

114 

79 

136 

19 

20 

10 

13 

15 

5 






2,851 


6 under 7 . 


1,905 


7 under 8 


1,424 


8under9 


990 


9 under 10. 


741 


10 under 11 


547 


11 under 12 


509 


12 under 13 


380 


13 under 14 


317 


14 under 15 


260 


15 under 20... 


847 


20 under 25. 


477 


25 under 30 


267 


30 under 40 


284 


40 under 50 


179 


50 under 60 . ... 


97 


60 under 70.. 


61 


70 under 80.. 


44 


80 under 90- 


32 


90 under 100 


23 


100 under 150 


36 


150 under 200 


4 


200 under 250 


6 


250 under 300 


2 


300 under 400 


3 


400 under 500 


5 


500 under 750 




750 under 1,000 




1,000 under 1,500 .. . 


2 


2,815 


3 




1,500 under 2,000 . 




2,000 under 3,000 . . 










3,000 under 4,000 










4,000 under 5,000 . 
































1 

45, 416 


6 

530, 813 


2 

60, 311 




Taxable returns __ 


12, 292 






Total, individual returns with net income 


45, 417 


530, 819 


60,313 


12. 292 







* Unlike basic table 5 in Statistics of Income for 1937, Part 1 (pp. 125-129), this table excludes taxable 
fiduciary returns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts 
incorrectly filed on Form 1040 instead of Form 1041. Data for individual returns with no net income are 
not classified by sex and family relationship. 

1 An unequal number of separate returns for husbands and wives results from (1) the use of the sample 
method on returns with net income under $5,000, as the net income of one spouse may be $5,000 or over and 
that of the other spouse under $5,000 (see discussion of sample, pp. 14-15) and (2) certain cases in which in- 
complete or inaccurate answers to questions 4 and 5 on p. 4, Form 1040 and on the back of Form 1040A, make 
it impossible to identify the returns as separate returns. 

> See text, p. 20. 

* Nontaxable returns. Exemptions from normal tax and surtax exceed net income. A negligible number 
of nontaxable returns in net income classes of $6,000 and over is not tabulated separately. 

* Less than $500. 



116 



STATISTICS OF INCOME 



Table 6. — Individual returns l with net income and with no net income {excluding 
fiduciary returns), 1988, by States and Territories: amount for each specific 
source of income and deductions, and net income 

[Thousands of dollars] 

[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-6 and 

14-15] 









Sources of 


income 










Salaries, wages, 
commissions, etc. 


Dividends from 
domestic and for- 
eign corporations 2 


Taxable interest 


States and Territories 


Bank deposits, 
mortgages, corpo- 
ration bonds 3 


Partially tax- 
exempt Govern- 
ment bonds 4 


(1) 


Returns 
with net 
income 

(2) 


Returns 
with no 
net in- 
come 

(3) 


Returns 
with net 
income 

(4) 


Returns 
with no 
net in- 
come 

(5) 


Returns 
with net 
income 

(6) 


Returns 
with no 
net in- 
come 

(7) 


Returns 
with net 
income 

(8) 


Returns 
with no 
net in- 
come 

(9) 


Alabama 

Arizona _ . 

Arkansas 


82, 467 

35, 780 

38,718 

984, 878 

76.817 

274, 390 

44, 349 

256, 675 

111,293 

141, 792 

40, 950 

21, 466 

1, 198, 293 

251,720 

117,494 

82, 640 

110,409 

125, 246 

47, 728 

301, 145 

611,978 

634,217 

213, 506 

38, 598 

319, 326 

53, 685 

76, 239 

16, 503 

35, 386 

699, 468 

22, 892 

2, 454, 178 

114,084 

19, 894 

754, 243 

116,692 

94, 532 

1,113,619 

84, 400 

50, 087 

19,588 

135, 099 

398, 255 

41,068 

25, 375 

169,645 

196, 084 

1(19, 196 

258,715 

19, 897 


371 
222 
263 

6,288 
323 

1,497 
171 
391 
994 
743 
49 
139 

4,963 
987 
676 
557 
449 
669 
347 

1,026 

3,116 

2, 253 
746 
250 

1,632 

144 

372 

59 

212 

2,863 

132 

15, 942 

489 

126 

2,947 
714 
676 

4,352 
660 
188 
112 
480 

2,934 
190 
99 
607 
757 
301 

1,219 
123 


7,711 

3,514 

4.714 

191,328 

19, 064 

75, 769 

21,810 

21,445 

40, 300 

24, 043 

9,257 

1,891 

144,127 

30, 143 

15, 034 

9,779 

18, 968 

19, 767 

12, 850 

47,311 

117,943 

67, 088 

29,122 

4,677 

55, 157 

3,890 

8,821 

4,141 

10,443 

96, 372 

2,209 

459, 444 

27, 982 

1,239 

104, 405 

15,685 

8,000 

172, 279 

19.519 

5,176 

1,960 

18, 030 

62, 432 

4,940 

4,399 

27, 051 

19, 596 

14,512 

34, 838 

1,926 


177 
193 
160 

7,275 
560 

3,800 

1,238 
409 

1,505 
513 
121 
39 

4,644 
544 
371 
304 
610 
394 
426 

1,310 

7,695 

2,480 
602 
125 

1,409 
52 
213 
138 
479 

3,712 

147 

29, 025 

203 

15 

2,957 
660 
360 

6,961 

1,091 

263 

41 

426 

2,326 
78 
184 
607 
563 
252 
954 
814 


3,630 
1,680 
1,777 

63, 172 
6,643 

18, 334 
2,866 

12, 166 

11,487 

4,079 

933 

976 

43, 651 
8,190 
8,024 
4,625 
4, 651 
6,372 
7,292 

19, 805 

47, 660 

17, 994 

10,816 
1,664 

16, 832 

1,559 

3, 937 

967 

3,610 

46, 694 

1,243 

190, 590 

2.444 

890 

23, 599 
4,670 
4,754 

62, 172 

7,461 

1,781 

795 

3,708 

19, 060 
1,475 
1,928 
6,341 
8,134 
2,029 

20, 336 
1,010 


130 

88 

101 

2,687 

222 

703 

56 
166 
540 
190 

13 

34 

2,074 

182 

207 

176 

113 

330 

152 

484 

2,028 

1,132 

198 

95 
555 

44 
106 

84 

117 

1,715 

54 
11, 072 

55 

45 
553 
240 
238 
2,435 
350 

57 

51 
164 
817 

30 

88 
187 
298 

39 
501 

36 


173 

75 

196 

2,545 

541 

791 

78 

598 

800 

311 

60 

13 

3,113 

1,128 

224 

285 

636 

570 

307 

1,302 

1,748 

1,116 

741 

46 

1, 352 

80 

163 

81 

138 

1,418 

35 

8,403 

202 

31 

3,936 

778 

158 

3, 931 

305 

91 

23 

244 

1,480 

56 

67 

486 

244 

360 

567 

74 


56 

6 

9 

159 


Colorado __ . 


35 


Connecticut 

Delaware 

District of Columbia 

Florida 

Georgia 

Hawaii 

Idaho ... 

Illinois 

Indiana . 


50 

1 
17 
42 
13 

(15) 

3 

205 
39 
22 


Kansas.. 


21 


Kentucky 


14 


Louisiana . . ... 

Maine.. 


17 
17 


Maryland 


92 


Massachusetts 

Michigan 


127 

58 


Minnesota ... 


20 


Mississii 


7 


Missouri 


75 


Montana. 


6 


Nebraska 


17 


Nevada 


3 


New Hampshire.. . 


6 


New Jersey.. 


54 


New Mexico 


19 


New York. 

North Carolina.. 


595 

1 


North Dakota 


7 


Ohio 


115 


Oklahoma... 


35 


Oregon 


16 


Pennsylvania 


205 


Rhode Island.. 


22 


South Carolina 


1 


South Dakota 


4 


Tennessee 


12 


Texas 


49 


Utah 


2 


Vermont.. 


3 


Virginia 


22 


" 1 on ' * 
West Virginia. . . 


23 
6 


Wisconsin 


41 


Wyoming 


3 






Total, individual re- 
turns .... 


13, 240, 991 


65, 825 


2,122,076 


89, 424 


746, 504 


32, 034 


42, 099 


2,373 







For footnotes, see p. 122. 



STATISTICS OF INCOME 



117 



Table 6. — Individual returns l with net income and with no net income (excluding 
fiduciary returns), 1988, by States and Territories: amount for each specific 
source of income and deductions, and net income— Continued 

[Thousands of dollars] 









Source 


s of income — Continued 






States and Territories 


Partnership profit 5 


Income from fi- 
duciaries 6 


Rents and 
royalties 


Business profit 


(1) 


Returns 
with net 
income 

(10) 


Returns 
with no 
net in- 
come 

(11) 


Returns 
with net 
income 

(12) 


Returns 
with no 
net in- 
come 

(13) 


Returns 
with net 
income 

(14) 


Returns 
with no 
net in- 
come 

(15) 


Returns 
with net 
income 

(16) 


Returns 
with no 
net in- 
come 

(17) 


Alabama . 


11,355 
4,701 
7,835 
108, 028 
9,711 

13, 505 
2, 036 
9,730 

12, 874 

13, 096 
1,795 
3,021 

88, 153 

17, 989 
17,355 
11,632 
10, 469 

18, 073 
2,997 

18, 028 

33, 762 

30, 966 

19,394 

6,350 

24, 330 

3,718 

8,368 

2,237 

2,401 

28, 640 

4,234 

198, 527 

11,440 

2,018 

42, 502 

14, 000 

11,024 

77,148 

4,588 

4,412 

1,884 

12,762 

68, 554 

2,917 

1,537 

10, 668 

14, 032 
6,020 

14, 372 
2,340 


77 

56 

54 

1,451 

70 

127 

31 

119 

179 

213 

19 

27 

544 

126 

156 

149 

70 

155 

33 

154 

439 

465 

127 

81 

149 

21 

115 

51 

25 

340 

27 

3,994 

76 

27 

325 

433 

94 

1,050 

42 

61 

17 

111 

1,219 

29 

16 

133 

96 

47 

80 

35 


2,295 

1,340 

1,001 

44, 027 

2,969 

24, 491 

8,213 

7,584 

14, 924 

4,160 

2,708 

283 

37, 552 

6,058 

2,363 

1,679 

4,393 

2,131 

5,235 

19, 996 

50,112 

13, 151 

6,025 

475 

10, 826 

483 

812 

945 

2,970 

35, 072 

619 

168, 713 

3,500 

171 

27,918 

2,026 

1,622 

72, 893 

7,487 

1,283 

178 

3,223 

13, 377 

754 

1,299 

6,532 

3,111 

2,376 

5,223 

464 


18 

53 

13 

1,193 

47 

965 

18 

126 

495 

43 

5 

(15) 

1,519 
62 
25 
29 
80 
42 

111 

380 
1,902 

401 

107 
21 

279 
21 
65 
90 
94 

416 

180 

6,517 

68 

4 

456 

65 

43 

1,753 

820 

16 

6 

48 

271 
12 

176 
27 
27 
84 
90 


5,790 

3,412 

4,977 

101, 143 

6,273 

10, 758 

1,768 

13, 425 

12, 288 

9,117 

3,025 

1,430 

55, 148 

13,211 

10,706 

12, 674 

7,094 

15, 246 

2,947 

14, 506 

17, 480 

27,013 

8,157 

3,512 

18, 960 

2,396 

5,046 

987 

2,107 

20, 178 

2,383 

68, 571 

9,686 

1,080 

34, 971 

16, 432 

5,441 

45, 188 

3, 703 

3,595 

1,463 

7,878 

76, 996 

1,568 

892 

8,728 

9,727 

6,648 

11,597 

1,514 


340 
159 
277 

5,782 

207 

894 

49 

374 

787 

551 

21 

76 

3,084 
566 
466 
618 
385 
770 
155 
501 

1,248 

1,806 
441 
235 

1,132 

124 

332 

59 

134 

1,415 
110 

6,046 
465 
80 

1,414 

1,050 
397 

2,531 
270 
159 
144 
421 

3,472 
72 
63 
500 
460 
337 
570 
51 


15, 628 
11,616 
12,286 
240, 667 
21,988 
40, 693 

5,590 
26, 423 
32, 835 
22, 986 

8,421 

8,961 
172, 035 
48, 277 
45, 632 
27, 541 
22, 133 
26, 703 
13,066 
41, 431 
102, 065 
84, 580 
45, 671 
12, 222 
48, 391 
11,596 
20, 363 

4,096 

9, 753 
95, 656 

9,527 
344, 300 
22, 447 

6,053 
112, 857 
28, 045 
24, 394 
186, 334 
12, 788 
10,745 

6,332 
23, 285 
121,484 

6,856 

4,719 
25, 964 
44, 436 
17, 147 
48, 646 

6,780 


221 




135 




240 




2,742 




237 


Connecticut.. . _ ... . .. 


534 




88 


District of Columbia 

Florida-. 


163 
322 




445 




20 


Idaho__ ... __. ___ .. _ 


111 


Illinois ... 


1,188 


Indiana 


688 




372 


Kansas... _ ... . _ 


382 


Kentucky _ 


156 




331 


Maine 

Maryland.. 


99 
191 


Massachusetts ... 


879 


Michigan... 


861 


Minnesota.. ... . _ .. 


431 


Mississippi ... 


442 


Missouri 


337 


Montana ._ . ... 


180 


Nebraska 


480 




71 


New Hampshire 


102 


New Jersey 


993 


New Mexico 


402 


New York. 


3,701 


North Carolina 


310 


North Dakota 


33 


Ohio 


787 


Oklahoma 


1,169 


Oregon 


232 


Pennsylvania 


1,465 


Rhode Island.. ... 


207 


South Carolina 


83 


South Dakota 


50 


Tennessee . 


230 


Texas 


2,561 


Utah 


112 


Vermont. 


12 


Virginia 


227 


Washington !4 _. ... 


423 


West Virginia . 


176 


Wisconsin 


289 


Wyoming 


43 






Total individual re- 
turns. 


1, 047, 526 


13, 533 


637, 041 


19, 291 


728, 834 


41, 601 


2, 342, 443 


25, 954 







For footnotes, see p. 122. 



118 



STATISTICS OF INCOME 



Table 6. — Individual returns 1 with net income and with no net income (excluding 
fiduciary returns), 1938, by States and Territories: amount for each specific 
source of income and deductions, and net income — Continued 

[Thousands of dollars] 





Sources of income— Continued 




Net capital gain 7 


Net gain from 
sale of property 
other than capi- 
tal assets 10 


Other 




States and Territories 


Short-term 8 


Long-term » 




(1) 


Returns 

with 

net 

income 

(18) 


Returns 

with 

no net 

income 

(19) 


Returns 

with 

net 

income 

(20) 


Returns 

with 

no net 

income 

(21) 


Returns 

with 

net 
income 

(22) 


Returns 

with 

no net 

income 

(23) 


Returns 

with 

net 

income 

(24) 


Returns 

with 

no net 

income 

(25) ; 




666 

370 

621 

11,439 

848 

2,691 

972 

1,288 

2,446 

1,029 

255 

172 

10, 420 

1,468 

790 

1,183 

1,026 

1,523 

663 

2,791 

5, 548 

4,382 

1,540 

231 

2,823 

223 

405 

219 

264 

6,150 

173 

34, 522 

884 

62 

6,269 

1,829 

666 

8,787 

734 

353 

92 

948 

6, 518 

174 

166 

1,400 

1,361 

744 

1,406 

153 


13 

42 
11 

606 
31 

201 
22 
42 

132 

47 

1 

5 

570 
25 
10 
66 
27 
97 
14 
66 

264 

197 
41 
6 
75 
3 
17 
11 
15 

189 

17 

2,799 

20 

1 

196 

160 
34 

434 

32 

3 

4 

25 

998 

(15) 

3 

85 
41 
29 
46 
6 


662 

456 

914 

32, 474 

2,942 

6,378 

5,407 

1,730 

9,805 

1,243 

318 

148 

22, 589 

1,637 

1,293 

1,744 

2,015 

2,115 

16,016 

3,955 

5,947 

10, 557 

2, 736 

400 

6,527 

298 

556 

561 

769 

9,773 

290 

54, 795 

928 

72 

12, 588 

2,261 

714 

9,799 

777 

346 

106 

1,242 

16, 526 

665 

173 

1,715 

1,624 

1, 551 

2,893 

238 


34 

12 

17 

653 

47 

121 

3 

16 

137 

58 

3 

8 

468 

44 

11 

79 

353 

217 

3 

34 

208 

223 

32 

32 

100 

9 

13 

2 

16 

102 

13 

1,523 

28 

(15) 

196 

214 

55 

369 

25 

19 

7 

22 

698 

3 

8 

27 

51 

23 

99 

9 


121 
192 
133 
3,711 
305 
301 

32 
322 
540 
161 
105 
106 
1,120 
439 
265 
271 
211 
383 

86 
372 
429 
861 
432 

82 
590 
115 
119 

55 

75 

782 

111 

1,962 

187 

27 
824 
513 
293 
976 

99 
143 

55 

189 

1,799 

35 

53 
312 
461 
138 
578 

91 


16 
4 
1 
230 
2 

22 

(15) 

8 
18 
17 


1.191 
1,140 
1,305 
25, 024 
1,723 
3,458 
855 
4,297 
3,660 
1,956 

791 
594 
15, 347 
5,214 
2,521 
3,612 
2,342 
3, 531 
1,223 
5,422 
7,921 
8,243 
3,675 
1,108 
4,327 
1,008 
1,483 

510 

875 
10, 665 

598 
34, 281 
2,706 

527 
9,061 
4,569 
1,724 
14, 312 
1,271 

974 

335 

1,892 

17, 114 

838 

488 
2,209 
2,829 
1,638 
4,418 

440 


66 




143 




509 




896 




76 




94 




544 


District of Columbia 


48 


Florida ... 


189 


Georgia 


166 




19 


Idaho 


13 
60 
38 
30 
69 

9 
14 

1 
20 
51 
86 
33 

1 
27 

4 
13 


44 


Illinois . 


593 


Indiana 


111 


Iowa_ .1 


21 


Kansas 


223 


Kentucky 


46 




186 


Maine 


53 


Maryland 


106 


Massachusetts... 


303 


Michigan. 


253 


Minnesota 


328 


Mississippi 


196 


Missouri 


145 


Montana... 


71 


Nebraska 


53 


Nevada 


20 


New Hampshire 


2 

53 

6 

228 

14 

4 

34 

101 

15 

55 

6 

3 

1 

19 

132 

1 

1 

12 

21 

12 

13 

5 


27 


New Jersey 


191 


New Mexico 


28 


New York . . . 


3,668 


North Carolina 


125 


North Dakota . 


11 


Ohio 


506 


Oklahoma 


346 


Oregon 


97 


Pennsylvania. 


497 


Rhode Island 


38 


South Carolina .. 


44 


South Dakota... 


17 


Tennessee 


25 


Texas. 


1,384 


Utah 


40 


Vermont 


8 


Virginia 


155 


Washington '*___ 


92 


West Virginia 


52 


Wisconsin 


126 


Wyoming 


4 






Total, individual re- 
turns 


131,689 


7,781 


261,269 


6,443 


21, 561 


1, 526 


227, 245 


3 

12, 983 





For footnotes, see p. 122. 



STATISTICS OF INCOME 



119 



Table 6. — Individual returns ' with net income and with no net income {excluding 
fiduciary returns), 1938, by States and Territories: amount for each specific 
source of income and deductions, and net income — Continued 

[Thousands of dollars] 



States and Territories 



(1) 



Sources of income- 
Continued 



Total income 



Returns 

with 

net 

income 

(26) 



Returns 

with 

no net 

income 

(27) 



Deductions 



Partnership loss 5 



Returns 

with 

net 

income 

(28) 



Returns 

with 

no net 

income 

(29) 



Business loss 



Returns 

with 

net 
income 

(30) 



Returns 

with 

no net 

income 

(31) 



Net long-term 
capital loss 7 " 



Returns 

with 

net 

income 

(32) 



Returns 

with 

no net 

income 

(33) 



387 
532 
135 

19, 342 
973 

5,797 

2,558 

1,373 

3,274 

837 

125 

75 

13,972 

1,259 
956 
731 
632 
754 
841 

3,889 
12,915 

5,201 

1,747 
271 

3, 105 

53 

617 

253 

607 

9,263 

171 

64, 617 

552 

51 

5,807 
445 

1,037 
14, 641 

1,368 

69 

171 

810 

3,207 
225 
315 

1, 233 

1,076 
436 

2,774 
741 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia. 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois.. 

Indiana 

Iowa 

Kansas.. 

Kentucky 

Louisiana 

Maine 

Maryland 

Massachusetts 

Michigan 

Minnesota 

Mississippi 

M issouri 

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 

Wyoming 



Total, individual re- 
turns 



131,690 

64, 276 

74, 476 

, 808, 436 

149, 824 

471,559 

93, 978 

355, 682 

253, 251 

223, 972 

68,617 

39, 060 

, 791, 547 

385, 474 

221,701 

157, 664 

184, 348 

221, 660 

110,408 

476, 065 

, 002, 593 

900, 147 

341,812 

69, 366 

509, 440 

79, 050 

126,313 

31, 300 

68, 792 

050, 867 

44, 314 

018, 286 

196, 489 

32, 063 

133, 172 

207, 501 
153,320 
767, 437 
143, 131 

78, 985 
32,810 

208, 500 
803, 595 

61, 348 
41,094 
261, 049 
301, 639 
162, 658 
403, 588 
34, 930 



21, 549, 277 



1,521 
1,113 
1,655 

29, 961 
1.857 
9,008 
2,222 
1,880 
5,340 
2,999 
271 
499 

19,913 
3,412 
2,367 
2,674 
2,312 
3,221 
1,412 
4,365 

18, 260 

10,214 
3,106 
1,491 
5,915 
679 
1,798 
587 
1,230 

12, 043 
1,134 

85,112 

1, 855 

353 

10, 485 
5,188 
2,259 

22, 106 

3,562 

898 

454 

1,982 

16, 860 
570 
492 
2,737 
2,852 
1,303 
4,021 
1,219 



318, 769 



157 

99 

117 

3,301 

520 

302 

71 

231 

509 

309 

41 

73 

[2,201 

338 

290 

455 

202 

757 

79 

377 

574 

898 

363 

235 

557 

100 

201 

84 

44 

589 

102 

6,731 

150 

37 

761 

509 

247 

| 1,713 

90 

82 

44 

205 

4,737 

52 

22 

201 

250 

166 

193 

72 



30, 441 



352 

151 

167 

3,692 

213 

477 

19 

61 

339 

186 

15 

70 

2,839 

220 

291 

540 

192 

633 

68 

458 

2,665 

716 

198 

136 

656 

63 

333 

52 

64 

772 

83 

10, 165 

120 

44 

1,687 

1,070 

299 

2,775 

122 

72 

61 

348 

3,251 

79 

66 

161 

240 

200 

250 



485 

658 

545 

12, 342 

9C6 

1,444 

612 

1, 457 

1,534 

1,312 

283 

290 

7,820 

2,177 

1,021 

1,654 

1,263 

1,334 

627 

2,073 

2,386 

3, 990 

1,090 

581 

2,722 

449 

794 

280 

339 

2,398 

367 

13, 051 

970 

282 

4,111 

1,816 

829 

7,170 

660 

585 

278 

981 

[ 7, 090 

270 

239 

1,594 

1,158 

543 

1,434 

389 



98, 684 



1,295 

1,210 

998 

18, 866 

1,526 

1,944 

220 

621 

2,605 

1,964 

338 

766 

7,942 

2,809 

2,078 

3,210 

1.166 

2,040 

845 

2,056 

4,340 

6,883 

1,474 

1,219 

2,878 

747 

1,253 

379 

553 

3,596 

690 

19, 323 

1,338 

521 

5,442 

3,081 

1,634 

11, 577 

963 

877 

500 

875 

9,362 

393 

264 

1,475 

2,789 

1,072 

2,114 

606 



142,717 



985 

546 

419 

29, 034 

2, 553 

15,003 

1,746 

3, 310 

5,117 

2,028 

387 

212 

28, 215 

3,077 

1,739 

1,051 

2,125 

2,445 

2,438 

8,259 

29, 987 

11, 110 

4,648 

474 

7,254 

326 

1,242 

320 

1,483 

21,979 

257 

116,266 

2,294 

158 

17, 195 

1,287 

1,590 

36, 055 

3,778 

498 

229 

1,629 

5,000 

421 

791 

2,923 

3.292 

1,159 

5,885 

295 



390, 514 



192, 220 



For footnotes, see p. 122. 



120 



STATISTICS OF INCOME 



Table 6. — Individual returns 1 with net income and iviih no net income {excluding 
fiduciary returns), 1938, by States and Territories: amount for each specific 
source of income and deductions, and net income — Continued 

[Thousands of dollars] 



States and Territories 



(1) 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia. 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

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 u 

West Virginia 

Wisconsin 

Wyoming 



Deductions — Continued 



Net loss from 
sale of property 
other than capi- 
tal assets l0 



Returns 
with net 
income 

(34) 



Total, individual re- 
turns 



126 

97 

93 

1,995 

144 

476 

61 
226 
456 
213 

47 

44 
1,635 
302 
152 
184 
194 
223 

93 
408 
717 
734 
478 

42 
623 

60 
117 

30 

51 
1,131 

55 

3,722 

228 

24 
954 
363 
157 
1.442 
155 

61 

24 

237 

1,484 

55 

43 
287 
277 

95 
479 

21 



21. 325 



Returns 
with no 
net in- 
come 

(35) 



65 

96 

30 

2, 646 

139 

458 

29 

245 

543 

125 

7 

25 

2, 059 

160 

114 

131 

106 

154 

31 

336 

771 

780 

233 

62 

i if is 

24 

160 

88 

34 

1,397 

193 

4,502 

54 

36 

669 

139 

2110 

1,709 

98 

55 

45 

157 

690 

20 

6 

260 

256 

110 

437 

71 



Contributions 12 



Returns 
with net 
income 

(36) 



21.427 



2, 540 

651 

1,540 

21, 321 
2,310 
9. (fill 
2,788 
6,252 
4.019 
4,514 
762 
590 

31.605 
6.615 
4,041 
2,689 
4.043 
3,412 
1,909 
7, 945 

19,949 

14. 50(1 
6,314 
1,637 

10,20(1 

813 

2, 081 

358 

1,232 

21, 475 
445 

94, 204 
6,248 

.S.N 

21, 626 
3,584 
1.649 

37,371 
3,082 
2,252 
508 
4.276 

12, 867 
1. 233 
799 
6,099 
2,808 
2,464 
7,417 
394 



407,419 



Returns 
with no 
net in- 
come 

(37) 



69 

8 

41 

447 

22 

128 

102 

32 

161 

131 

3 

9 

324 

89 

35 

65 

55 

48 

30 

80 

304 

219 

63 

21 

119 

15 

35 

4 

21 

212 

9 

1,513 

49 

9 

394 

131 

28 

800 

70 

31 

14 

46 

263 

14 

16 

55 

95 

35 

77 

10 



6,560 



Interest paid 13 



Returns 
with net 
income 

(38) 



3,541 
1,295 
1,859 

41,883 
2,826 

13, 054 
3, 033 
9,238 
6,559 
6,218 
1,940 
672 

34, 135 
6,762 
4,846 
3,496 
4,922 

5. 177 
2, 153 

10, 606 

20, 167 

21,028 

6,438 

1.731 

13, 365 

1,065 

2.NI3 

469 

1,305 

24, 623 

806 

92, 395 

6, 946 
591 

26, 538 
5,795 
3, 091 

45, 524 

3,008 

2,154 

698 

5, 554 

19,687 
1,367 
825 
8,102 
5,331 
4,278 

10, 087 
576 



500, 564 



Returns 
with no 
net in- 
come 

(39) 



305 
98 
167 

4,702 
161 

1,388 
732 
318 
534 
477 
32 
33 

2, 675 
297 
292 
308 
323 
571 
177 
833 

1,824 

1,444 
391 
136 

1,016 

42 

246 

29 

132 

1,651 

42 

11,343 

316 

26 

1,853 
631 
265 

4,032 

350 

151 

40 

335 

5, 449 
58 
64 
397 
281 
300 
713 
67 



Taxes paid 



Returns 
with net 
income 

(40) 



4,209 
1,757 
2,143 
65, 794 
5,633 

14, 921 
2,548 
9.407 

• 8, 702 

8.367 

2, 214 

1.127 

39, 237 

12,372 

10, 182 

6,889 

7, 693 

7. 706 

3,631 

13, 831 

49, 538 

24, 293 

15. 988 
2,598 

19, 441 
1,874 
3,532 
592 
3,075 

37, 432 
901 

208, 566 
8,912 
1. 179 

38, 920 
9,189 
5.938 

56, 120 
5,485 
3, 089 
1,451 
5,982 

22, 171 
2,201 
1,342 
s. 5:;s 
5,415 
4.300 

15. 903 
624 



Returns 
with no 
net in- 
come 

(41) 



241 

131 

107 

4,196 

238 

1,063 

77 

263 

1,048 

469 

29 

54 

2.629 

430 

392 

391 

358 

471 

218 

440 

3, 131 

2,142 

539 

177 

868 

83 

247 

68 

196 

1,787 

80 

12, 487 

310 

42 

1 , 28 1 

657 

325 

3,043 

428 

132 

106 

359 

1,515 

65 

59 

399 

283 

146 

543 

31 



48,049 792,951 ' 44.779 



For footnotee, see p. 122. 



STATISTICS OF INCOME 



121 



Table 6. 



Individual returns ' with net income and with no net income {excluding 
fiduciary returns), 1938, by Slates and Territories: amount for <<ich specific 
source of income and deductions, and net income- Continued 

[Thousands of dollars] 



States and Territories 



(1) 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia. 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

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 H 

West Virginia 

Wisconsin 

Wyoming 



Deductions — Continued 



Other deductions 



Returns 
with net 
income 

(42) 



4,505 

2,814 

4. 743 

62, 792 

6,370 

13,492 

2, 081 

6,092 

11,123 

7,716 

966 

1,871 

44, 884 

11,532 

10,372 

8,254 

5,181 

9,065 

2, 289 

11,983 

25, 562 

25, 391 

11,073 

4, 516 
12,754 

2,733 
4,863 
1,177 
2,160 

24, 306 

2.170 

110, 733 

8,618 

1,932 

22, 473 

16,777 
5,008 

37, 306 
6, 809 
3,671 
1,628 

5, 8 18 
47.462 

3, 033 

77.; 

6,161 
8. 045 
3,732 
10,450 
1. 159 



Returns 
with no 
net in- 
come 

(43) 



Total, individual returns 



646, 451 



1,020 

848 

1,314 

16, 519 

1,081 

4,699 

640 

796 

3,677 

1,800 

89 

288 

10, 699 

2,661 

1,688 

1,582 

2. 785 

1,658 

1.406 

2, 305 

8, 209 

6,218 

1,798 

1,172 

3.2G1 

527 
1. 199 

323 

689 
5,696 

729 

46, 847 

1.319 

261 
6, 464 
3,911 
1,184 
'■>. >>-- 
2,918 

579 

267 

1,088 

10, 053 

584 

152 
1,194 
2.571 

692 
1,956 

332 



Total deductions 



Returns 
With net 
income 

(44) 



179, 374 



16, 548 
7,916 
11,458 
238, 462 
21,261 
68, 151 

12, 940 
36,212 
38.019 
30. 678 

6,639 
4. 880 
189, 733 
43, 176 
32, 644 
24, 672 
25, 623 
30, 119 

13, 219 
55, 182 

I IS, SSI 

101.944 

46, 394 

11,814 

66,915 

7,420 

15,634 

3,311 

9,690 

133,932 

5,103 

645, 668 

34,367 

4. 733 

132, 588 

39, 320 

18, 510 

222, 701 

23, 068 

12, 392 

1,859 

24, 712 

120, 499 

8, 631 

4, 836 

33, 905 

26, 578 

16, 736 

51,849 

3,529 



Returns 
with no 
net in- 
come 

(45) 



Net income 

on returns 

with net 

income 



(46) 



I Deficit 
on returns 
! with no 
.' I ir- 



(47) 



3,734 


115,142 


3,074 


56, 359 


2,963 


63, 019 


70,411 


1, 569, 974 


4,353 


128, 563 


15. 953 


403, 409 


4. 377 


81,038 


3,709 


319, 469 


12, 182 


215,232 


5,989 


193,294 


639 


61,978 


1.320 


34, 180 


43, 139 


1,601,814 


7, 926 


342, 298 


5,845 


!9 l --7 


6, 959 


132, 992 


5,618 


1 5S, 724 


6,329 


191,541 


3,615 


97, 189 


10, 398 


420, 583 


34, 163 


853,712 


23. 602 


798,203 


6,442 


295, 419 


:s, mi. 


57, 552 


12,571 


142, 525 


1,555 


71.630 


4,089 


1 10. 679 


1,197 


27. 989 


2, 295 


59, 102 


24, 376 


916,935 


1,997 


39,211 


170, 797 


3,372,618 


4,058 


162, 122 


990 


27,331 


23, 600 


1,( ,58£ 


10,066 


168, 1st 


4,972 


134.810 


48, 204 


1, 544. 736 


6,317 


120.063 


1,967 


66, 594 


1,204 


27, 951 


4,018 


183,788 


33, 790 


683, 096 


1,439 


52,717 


942 


36, 258 


5,174 


227. 144 


7,590 


275,061 


2,991 


: 17.' 122 


8. 864 


351,739 


1,926 


31,400 



672,925 18,660,929 



2,214 

1.961 

1,308 

40, 449 

2,496 

6,945 

2,155 

1.829 

6,843 

2,990 

368 

821 

23, 226 

4.514 

3, 478 

4, 285 
3,306 
3, 108 
2,203 
6,032 

15,903 
13,388 
3, 336 

1, 705 
6, 655 

876 

2, 291 
610 

1,066 

12, 332 

863 

85, 685 

2,204 

636 

13,115 

4,878 

2,713 

26. 097 

2,754 

1, 069 

750 

2.035 

16, 930 

869 

450 

2.437 

4. 738 

1,688 

4,842 

707 



354. 156 



For footnotes, see p. 122. 



122 



STATISTICS OF INCOME 



Footnotes for table 6. 



i Unlike basic table 6 in Statistics of Income for 1937, Part 1 (pp. 130-132), this table excludes taxable 
fiduciary returns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts 
incorrectly filed on Form 1040 instead of Form 1041. Data for individual returns with no net income are 
included in this table for the first time. 

- Excludes dividends received through partnerships and fiduciaries and dividends received on share 
accounts in Federal savings and loan associations. 

3 Includes taxable interest on partially tax-exempt Government obligations reported on returns with 
net income under $5,000. 

* Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and 
on obligations of instrumentalities of the United States other than those issued under the Federal Farm Loan 
Act or such act as amended (see item 5 on p. 1, Form 1040, facsimile on p. 290) reported on returns with net 
income of $5,000 and over. 

* For 1938, partnership profit or loss includes dividends received, and excludes (1) taxable interest on obli- 
gation? of the United State-;, and (2) net gain or loss from the sale or exchange of capital asssets. The item 
''Charitable contributions" is not an allowable deduction in the computation of partnership profit or loss. 
For 193 l hip profit or loss included (1) dividends received and (2) net gain or loss from sale or ex- 
chan>;. ssets (as defined by sec. 117(b) of the Revenue Act of 1930) and excluded taxable interest 
on obligations of the United States. The item "Charitable contributions" (limited to 15 percent of part- 
nership net income before deduction of contributions or gifts) was an allowable deduction in the computa- 
tion of partnership profit or loss. Each item which is excluded from partnership profit or loss for 1938 and 
1937 is reported under its appropriate classification. 

6 For 1938, income from fiduciaries includes (1) dividends received, and (2) net gain or loss from sale or 
exchange of capital assets, and excludes (1) taxable interest on obligations of the United States and (2) net 
gain or loss from sale or exchange of capital assets received from "Common trust funds." For 1937, income 
from fiduciaries included (1) dividends received, and (2) net gain or loss (including that received from 
"Common trust funds") from sale or exchange of capital assets as defined by sec. 117(b) of the Revenue Act 
of 1936, and excluded taxable interest on obligations of the United States. Each item which is excluded 
from income from fiduciaries for 1938 and 1937 is reported under its appropriate classification. 

" Unlike 1937, (1) capita] assets exclude property used in trade or business of a character which is subject 
to the allowance for depreciation and (2) "Net capital gain" and "Net long-term capital loss" include each 
partner's share of net capital gain or loss to be taken into account from partnerships and "Common trust 
funds." Net long-term capital gain and loss include losses from worthless stocks and bonds, which for 
1937 were tabulated in "Other deductions." 

f Consists of net short-term capital gain on capital assets held 18 months or less. 

9 Consists of net long-term capital gain on capital assets held over 18 months. Includes net capital gain 
of $346,495 on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) of 
the Revenue Act of 1936, reported on 120 fiscal year returns with year ended in period July through No- 
vember 1938. 

10 Consists of net gain or loss from property used in trade or business of a character which is subject to 
the allowance for depreciation, which under the Revenue Act of 1938 is excluded from capital assets. For 
1937, net gain or loss from the sale of depreciable property was included in "Net capital gain or loss." 

11 Consists of net long-term capital loss on capital assets held over IS months. Includes net capital loss 
of $139,727 on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) of 
the Revenue Act of 1936, reported on 121 fiscal year returns with year ended in period July through No- 
vember 1938. 

12 Includes each partner's share of charitable contributions of partnerships. For 1937, such contributions 
were allowed as a deduction in the computation of partnership profit or loss (see footnote 5). 

13 Excludes amounts reported in Schedules C and D as business deductions. 
u Includes Alaska. 

»« Less than $500. 



STATISTICS OF INCOME 



123 



Table 7. — Individual returns and taxable fiduciary returns with net income, 1 by 
net income classes, also aggregate for individual returns with no net income {ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income 
[Net income classes and money figures in thousands of dollars] 
[For text defining certain items and describing methods of tabulating and estimating data, see nn 1-6 

and 14-15] 



X et income 2 classes 



(1) 



Total 

number of 

returns 



(2) 



Sources of income 



Salaries, wages, com- 
missions, etc. (indi- 
vidual returns) 



Number of 
returns 3 



(3) 



Amount 
(4) 



Dividends from domes- 
tic and foreign cor- 
porations 4 



Number of 
returns 3 



(5) 



Individual returns and taxable fiduciary 
returns - with net income: 

Under 1 (est.) « 

Under 1 (est.) 

1 under 2 (est.) IS 

1 under 2 (est.) 

2 under 2.5 (est.) '* 

2 under 2.5 (est.) 

2.5 under 3 (est.) » 

2.5 under 3 (est.) 

3 under 4 (est.) is 

3 under 4 (est.) 

4 under 5 (est.) « 

4 under 5 (est.) 

5 under 6 '« ; 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 



11 under 12 

12 under 13.. 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

Sounder 90 

90 under 100. 

100 under 150 

150 under 200.. 

200 under 250 

250 under 300 

300 under 400... 
400 under 500.... 

.500 under 750 

750 under 1,000.. 
1,000 under 1.500. 
1,500 under 2,000 
2,000 under 3,000. 
3,000 under 4,000. 
4,000 under 5,000. 
5.000 and over... 



Nontaxable returns 1S . 
Taxable returns 



Total, individual returns and 
taxable fiduciary returns with 
net income 



Individual returns with no net income: 

Nontaxable " . 

Taxable 2" . 



Total, individual returns with no 
net income 



Grand total. 



339, 369 

50, 502 

1,241,979 

1,191,970 

466, 146 

208, 450 

732, 327 

208, 059 

356, 083 

498. 524 

18, 542 

299, 200 

666 

164. 502 

102. 956 

66, 758 

46, 226 

34. 488 

25. 922 

20, 577 

16, 566 
13,479 
11.346 
35, 032 

17, 859 
10, 207 
10,814 

5,315 

2, 943 

1,775 

1,114 

841 

556 

1, 326 

420 

229 

117 

142 

65 

81 

37 

30 

16 

6 

1 

1 

3 



3, 155, 112 
3, 048, 545 



6, 203, 657 



100, 207 
26 



6. 303, 890 



385 

113,751 

68, 977 

43,890 

29,897 

22, 035 

16, 490 

13,080 

10, 401 

8,641 

7,182 

21,991 

11.115 

6.369 

3,280 

1,821 

1,136 

733 

510 

319 

810 

270 

139 

73 

82 

39 

35 

16 

17 

4 
1 

1 
2 



3.385 
3 389, 796 



3 390, 181 



20, 500 
21 



179, 395 

3,384 

1, 416. 223 

1, 578, 399 

831,514 

362, 148 
1,776,583 

148,944 

1, 325. 997 
62, 113 

939. 913 

1.979 

587.153 

410, 205 

297, 245 

224, 713 

182, 479 

146, 752 

126.092 

106, 179 

95, 900 

82, 765 

288, 124 

176, 616 

117,080 

145, 142 

84, 912 

54. 218 

36. 505 

27, 580 

20.349 

14, 276 

41.125 

16, 393 

9, 397 

5,086 

5,069 

2,907 

1,577 

340 

814 

183 

27 

9 

93 

1 



5, 274. 899 
7, 966. 092 



65. 192 
633 



13. 306. 816 



229 

83, 342 

56. 614 

39, 137 

28. 975 

22. 183 

17, 709 

14, 380 

11,972 

9,938 

8.478 

27. 332 

14, 591 

8.687 

9,360 

4,731 

2,683 

1,634 

1,040 

784 

517 

1,241 

403 

221 

116 

140 

64 

75 

37 

30 

16 

6 

1 

1 

3 



3 229 

3 366, 441 



3 366. 670 



33, 903 
26 



33, 929 



! 400. 599 



For footnotes, see p. 130. 
299429—41 9 



124 



STATISTICS OF INCOME 



Table 7. — Individual returns and taxable fiduciary returns with net income, 1 by 
net income classes, also aggregate for individual returns with no net income {ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income^ — Con. 

[Net income classes and money figures in thousands of dollars] 





Sources of income— Continued 




Taxable interest 


Partnership profit e 


Net income 1 classes 


Bank deposits, notes, 
mortgages, corpora- 
tion bonds 


Partially tax-exempt 
Government obliga- 
tions 5 


Number of 
returns 3 

(11) 


Amount 


(1) 


Number of 
returns 3 

(7) 


Amount 
(8) 


Number of 
returns 3 

(9) 


Amount 

(10) 


(12) 


Individual returns and taxa- 
ble fiduciary returns 2 with 
net income: 
Under 1 (est.) i> 




2i 30, 662 

2i 46. 737 

2i 44, 536 

2i 84, 680 

2i 25, 939 

2i 36,013 

2i 25, 426 

2i 37, 087 

2i 14, 063 

2i 82, 075 

2i 2, 139 

2i 65, 054 

130 

41,371 

32, 931 

26, 104 

21, 884 

18, 348 

15, 920 

14, 741 

12, 371 

11, 205 

10. 129 

37, 327 

23, 682 

16, 409 

20, 725 

11,476 

7,029 

5,525 

3,354 

2,772 

2,335 

4.863 

2, 259 

1,973 

1,248 

1,341 

306 

545 

675 

598 

199 

196 

73 

1 

7 




(22) 
(22) 
(12) 
(22) 
(22) 
(22) 
(22) 
(22) 
(22) 
(22) 
(22) 
(22) 

334 

3,424 

3,352 

2,779 

2,472 

2,313 

2,086 

1,794 

1,626 

1,481 

1,279 

5,467 

3,697 

2,778 

3,819 

1,863 

1,327 

875 

517 

410 

247 

884 

482 

310 

125 

195 

21 

58 

43 

1 

2 

2 




11,308 


Under 1 (est.) 








778 


1 under 2 (est.) ,8 








32, 348 










18, 730 


2 under 2.5 (est.) " . 








30, 720 


2 under 2.5 (est.) 








11,667 


2.5 under 3 (est.) «_ _ 








36, 799 


2.5 under 3 (est.) 








18, 381 


3 under 4 (est.) " 








32, 258 










73, 552 










3,488 










81, 326 


5 under 6 » 


179 

64, 839 

43, 614 

29, 853 

21, 867 

16, 702 

13, 260 

10, 710 

8,923 

7,490 

6,470 

20, 820 

11,237 

6,740 

7,412 

3,723 

2,189 

1,356 

863 

659 

447 

1,069 

349 

188 

101 

124 

56 

65 

32 

29 

13 

5 

1 

1 

3 


104 

7,728 

6,150 

4,642 

3,672 

3,041 

2.538 

2,179 

1,863 

1,576 

1,401 

4,955 

2,865 

1,847 

2, 080 

1,080 

624 

395 

266 

198 

128 

296 

101 

73 

30 

22 

14 

22 

9 

3 

3 

5 


59 

18, 528 

13, 056 

9,003 

6,639 

5,112 

4,108 

3,298 

2,834 

2,161 

1,944 

6,298 

3,430 

2,056 

2, 169 

1,106 

577 

395 

216 

155 

110 

200 

54 

24 

8 

20 

6 

7 

4 

3 


197 
73, 871 


6 under 7 

7 under 8 


61, 426 

48, 771 


8 under 9 - . 

9 under 10 


40, 630 
34, 848 


10 under 11 


30, 733 


11 under 12 


26, 395 


12 under 13 


25, 077 


13 under 14 


20, 099 


14 under 15 


19, 466 


15 under 20. 


73,415 


20 under 25_. 


51, 129 


25 under 30__ - .. 


36, 940 


30 under 40 


47, 159 


40 under 50 


30, 377 


50 under 60 

60 under 70 


19, 575 
14, 853 


70 under 80 


9, 255 


80 under 90 


7,603 


90 under 100 


5,455 


100 under 150 


12,676 


150 under 200 


5,002 


200 under 250 


2,094 


250 under 300 . 


1,275 


300 under 400. . 


2, 651 


400 under 500- _ 


136 


500 under 750 


30 


750 under 1 ,000 


61 


1,000 under 1,500 


1, 118 


1,600 under 2,000. 




2,ooo under 3,000 






3,ooo under 4,000 






1,000 under 5,000. 










5,000 and over. 


1 


5 






Nontaxable returns i 8 
Taxable returns 


3 179 
3 281, 210 


142,896 
701,546 


3 104 
3 49, 807 


334 

45, 731 


3 59 
3 83, 521 


1 17. 120 
906, 553 






'I otal, indh [dual re- 
turns :m<l taxable 
fiduciary returns with 

net income-. 


3 281, 389 


844, 443 


3 49,911 


46, 065 


3 83, 580 


1, 053, 673 


Individual returns with no 
net income 
Nontaxable n 




29, 339 

25 


31,607 
427 

32, 034 


3,329 
3 


2,365 
8 


4,898 
6 


13 046 


Taxable 20 ... 


487 






'1 otal, individual re- 
turns with do net 
income 


29, 364 


3,332 | 


2.373 


1,904 


13, 533 


Grand total 


310.753 


SCO. 176 


3 53.243 1 


48. 438 


SS. IX 1 


1,067,206 



For footnotes, see p. 130. 



STATISTICS OF INCOME 



125 



Table 7. — Individual returns and taxable fiduciary returns with net income, 1 by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1988: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income — Con. 



[Net income classes and money figures in thousands of dollars] 






Sources of income — Continued 


Net income 2 classes 


Income from fidu- 
ciaries ' 


Rents and royalties 


Business profit 


(1) 


Number of 
returns J 

(13) 


Amount 

(14) 


Number of 
returns 3 

(15) 


Amount 

(16) 


Number of 
businesses 8 

(17) 


Amount 
(18) 


Individual returns and taxa- 
ble fiduciary returns 2 with 
net income: 
Under 1 (est.) > 8 . 




7,442 

2,154 

10, 899 

17,848 

6,929 

11,054 

7,416 

12, 251 

6,124 

30, 169 

988 

29, 079 

174 

28, 810 

24, 999 

21, 878 

20, 050 

17, 609 

15,609 

14, 445 

13,827 

12, 705 

11,631 

48, 378 

34, 529 

26, 423 

37, 789 

26, 218 

18, 803 

11,842 

9,599 

7,553 

7,238 

23,111 

12, 360 

9,047 

4,980 

6,583 

3,753 

16, 582 

6,389 

5,611 

4,620 

70 




48, 265 
8,592 
72, 135 
42,906 
51,280 
19,313 
42, 639 
26, 054 
23, 943 
74, 021 
2,570 
59,618 
171 
41,776 
32, 034 
23, 943 
19,418 

15, 802 
13,502 
11,591 

9,581 
8,486 
8,076 
27, 586 
17,654 
11,941 

16, 909 
9,705 
5,479 
3,675 
2,702 
2,680 
2,216 
5,819 
1,730 

673 

471 

1,167 

239 

3,177 

71 

48 

(M) 

23 




80,361 
1,312 


Under 1 (est.)..- 








1 under 2 (est.) » 








258, 443 
47, 091 
219, 855 


1 under 2 (est.).. . 








2 under 2.5 (est.) 18 








2 under 2.5 (est.) 








21, 485 


2.5 under 3 (est.) ' 8 








201,542 


2.5 under 3 (est.) 








53, 208 


3 under 4 (est.) i'_ 








160, 157 

222, 590 

11,859 


3 under 4 (est.). ... .. 








4 under 5 (est.) 18 .. 








4 under5 (est.) 








211,700 


5 under 6 18 


45 

10, 929 

7,887 

5,889 

4,567 

3,687 

2,975 

2,502 

2,232 

1,853 

1,625 

5,534 

3,156 

1,985 

2,320 

1,191 

703 

431 

310 

225 

166 

396 

140 

87 

48 

52 

16 

37 

18 

11 

8 

1 


171 

34, 864 

22, 978 

15, 122 

11,073 

8,207 

6,354 

5,218 

4,234 

3,365 

2,978 

9,141 

4,848 

2,783 

3,047 

1,543 

819 

534 

345 

250 

156 

390 

111 

73 

33 

31 

33 

25 

14 

6 

3 

5 


233 

33, 641 

21, 395 

13, 622 

9,078 

6,550 

4,821 

3,672 

2,920 

2,201 

1,901 

5,561 

2,551 

1,316 

1,276 

584 

275 

160 

99 

74 

46 

86 

22 

18 

3 

4 

3 

2 

4 

3 


1 110 


5 under6 ... .. 


158 011 


6 under 7 . - 


117, 689 
85,220 
64, 321 


7 under 8- .. ... 


8 under 9 - 


9 under 10 _. 


51 764 


10 under 11 . 


41, 399 


11 under 12 


34, 375 

28, 864 


12 under 13-. 


13 under 14 _ 


23, 274 


14 under 15 


21,514 


15 under 20 


72 S38 


20 under 25- _ 


42,316 


25 under 30 


25, 555 


30 under 40. - 


30, 693 
16, 946 


40 under 50. 


50 under 60 


10, 061 
6,410 


60 under 70 


70 under 80 


5, 130 


80 under 90- - 


4,053 


90 under 100 


2,649 


100 under 150- . 


6,164 


150 under 200 


1,335 


200 under 250 


1,358 


250 under 300 _- . 


147 


300 under 400- .. 


43 


400 under 500- _ 


343 


500 under 750- 

750 under 1,000 


376 

2. 032 


1,000 under 1,500 
1,500 under 2,000 


682 


2,000 under 3,000 


1 


68 


3,000 under 4,000 




4,000 under 5,000 


1 


688 










5,000 and over. 


1 


4 
















Nontaxable returns 18 
Taxable returns . ... 


3 45 1 
3 60,982 


39, 972 

606, 285 


3 171 1 

3 138, 584 


241, 004 
528, 683 


8 233 

8 111, 889 


936, 328 
1,413.016 






Total, individual re- 
turns and taxable 
fiduciary returns with 


3 61,027 


646. 258 


3 138, 755 1 


769, 687 


8 112, 122 


2. 349. 344 






Individual returns with no 
net income: . 

Nontaxable 19 

Taxable 211 . 


5,174 
15 

5, 189 


18,205 
1,086 

19,291 1 


27,622 
13 1 


41, 480 
121 


9,794 
2 


25, 865 
90 


Total, individual re- 
turns with no net in- 
come 


27,635 | 


41,601 


9,796 


25, 954 


Oand total 1 


3 66.216 1 


665.549 1 


3 166. 390 


811,288 


8 121. 918 1 


2, 375, 298 



For footnotes, see p. 130. 



126 



STATISTICS OF INCOME 



Table 7. — Individual returns and taxable fiduciary returns with net income, 1 by 
net income classes, also aggregate for individual returns with no net income {ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 



Net income 2 classes 



(1) 



Individual returns and taxable 
fiduciary returns 2 with net 
income: 

Under 1 (est.) 18 

Under 1 (est.) 

1 under 2 (est.)' 8 

1 under 2 (est.) 

2 under 2.5 (est.)" 

2 under 2.5 (est.) 

2.5 under 3 (est.)" 

2.5 under 3 (est.) 

3 under 4 (est.)" 

3 under 4 (est.) 

4 under 5 (est.)" 

4 under 5 (est.) 

5under6 " 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 



11 under 12 

12 under 13 

13 under 14 

14 under 15. 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

rounder 60 . 

60 under 70 

70 under 80 

80 under 90 . . . 

90 under 100 

100 under 150 

150 under 200 

200 under 250... 
250 under 300. . 

300 under 400 

400 under 500 
500 under 7. r >0 
750 under 1,000... 
1,000 under 1,500 
1,500 under 2,000. 
2,000 under 3,000. 
3,000 under 1,000 
4,000 under 5,000 
5.000 and over . 



Nontaxable returns ". 
Taxable returns.. 



Total, individual returns 
and taxable fiduciary 
returns with net income 

Individual returns with no net 
income: 

Nontaxable i» . . _ 

Taxable" 

Total, individual returns 
with no net income 



Grand total 



Sources of income — Continued 



Net capital gain » 



Short-term " 



Number of 
returns 3 



(19) 



25 

12, 092 

9,076 

6,586 

5,068 

4,012 

3,370 

2,712 

2,368 

1,994 

1,767 

5,722 

3.302 

2,059 

2,387 

1,123 

676 

396 

252 

101 

110 

319 

103 

69 

35 

41 

16 

28 

19 

10 

7 

1 



3 25 
3 65, 915 



3 65, 940 



5,405 
6 



5,411 



Amount 
(20) 



2,724 

1,461 

3,764 

4,675 

2,971 

3,397 

3,064 

3,110 

2,832 

10, 640 

252 

11,396 

46 

8,812 

7,821 

6,312 

5,119 

4,767 

4,089 

3,569 

3,263 

3,032 

2,692 

10, 309 

7,344 

4,884 

7,592 

4, 234 

2,961 

1 , 873 

1,434 

1,202 

1,007 

2,646 

696 

256 

1,192 

663 

884 

1,382 

1,562 

150 

29 

1 



Long-term " 



Net gain from sale of 
property other than 
capital assets 12 



Number of 
returns 3 



(21) 



(26) 



15, 653 
136, 455 



152, 108 



7,769 
12 



7,781 



159, 890 



19 

9,116 

6,804 

4,876 

3,969 

3,167 

2,610 

2,186 

1, 958 

1,600 

1,364 

4,831 

2, 865 

1,831 

2,119 

1,137 

715 

465 

322 

261 

173 

481 

195 

105 

57 

69 

44 

45 

26 

26 

14 

4 

1 

1 

3 



3 19 

i 53, 440 



3 53, 459 



3,010 



3,010 



Amount 
(22) 



1,925 
3,917 
2,848 
5,335 
2,323 

2. 865 
2,102 
3,343 
1,304 
8,086 

143 
7,892 
24 
7,032 
6,311 
5,204 
4,832 
4, 464 
3,639 
3.764 
3,407 
3,182 
2,799 

12, 632 
9,713 
8,229 

12, 298 
8, 520 
7. 694 
5, 761 
5,022 
4,732 

3, 762 
15, 006 
10, 034 

8,428 

5, 978 
12, 650 

8,131 
15, 800 
12, 609 
21, 575 
14,211 
10, 397 
162 

3, 393 
21,315 



10, 669 
314, 126 



324, 795 



6,443 



Number of 
returns 3 



(23) 



6,443 



3 56. 469 



331, 238 



10 

1,674 

1, 158 

723 

540 

409 

321 

236 

220 

165 

136 

442 

215 

120 

129 

72 

44 

33 

19 

12 

8 

15 

3 

4 



3 10 
3 6, 701 



3 6.711 



1,210 



1, 210 1, 526 



3 7,921 I 24,134 



For footnotes, see p. 130. 



STATISTICS OF INCOME 



127 



Table 7.- — Individual returns and taxable fiduciary returns with net income, 1 by 
net income classes, also aggregate for individual returns with no net income {ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 





Sources of income- 
Continued 


Deductions 


Net income 2 classes 
(1) 


Other in- 
come 13 

(25) 


Total in- 
come 

(26) 


Partnership loss 6 


Business loss 


Number of 
returns 3 

(27) 


Amount 
(28) 


Number of 
businesses 8 

(29) 


Amount 
(30) 


Individual returns and tax- 
able fiduciary returns 2 with 
net income: 
Under 1 (est.) 19 - 


12, 249 

1,303 

21,311 

18, 472 

15, 662 

7,845 

16, 331 

9,013 

10, 244 

21, 756 

1,145 

17, 261 

31 

8,133 

7,202 

5,309 

4,406 

4,260 

3,018 

2,550 

2,569 

2,195 

2,146 

6,639 

5,032 

3,674 

5,257 

4,038 

2,490 

2,033 

2, 559 

1,639 

1,177 

1,782 

646 

293 

265 

677 

134 

41 

115 

96 

20 


414, 600 

122. 530 

1, 917, 777 

1, 934, 381 

1, 220, 670 

527, 142 

2, 149, 289 

667, 206 

1, 280, 915 

1, 983, 396 

89, 827 

1, 543, 596 

4,479 

1, 052, 348 

783, 997 

592, 052 

469, 174 

391, 275 

326, 838 

285, 361 

249, 612 

220, 293 

198, 511 

732, 782 

485, 269 

344,314 

455, 125 

291, 105 

200, 195 

142, 845 

105, 009 

88, 124 

65, 167 

197, 697 

89, 053 

64, 192 

41, 393 

65, 854 

30, 715 

60, 957 

39,017 

43, 592 

30, 436 

18, 555 

6,305 

4,364 

22, 112 




2,888 

136 

2,525 

688 

1,115 

377 

810 

615 

642 

1,747 

98 

3,645 

10 

1,454 

1,107 

882 

646 

567 

519 

377 

544 

297 

298 

2,493 

1,134 

810 

807 

826 

589 

347 

303 

174 

93 

282 

403 

168 

16 

94. 

24 

31 

69 

4 

6 




13, 265 
511 








1 under 2 (est.) 18 






10, 390 
2,506 








2 under 2.5 (est.) 18 . 






4, 505 


2 under 2.5 (est.) 






1,229 


2.5 under 3 (est.) 18 






3,417 


2.5 under 3 (est.) 






1,666 


3 under 4 (est.) 18 ... 






2,380 








5,703 


4 under 5 (est.) 18 






329 








5,178 


5under6 18 

5 under 6 


9 

1,429 

1,002 

785 

609 

423 

368 

315 

286 

244 

187 

718 

409 

275 

289 

196 

113 

76 

48 

37 

24 

67 

30 

15 

6 

9 

8 

2 

4 

2 

2 


22 

3,213 

2,316 

1,597 

1,254 

1,015 

827 

627 

563 

450 

387 

1,343 

840 

535 

649 

341 

227 

153 

108 

55 

41 

182 

49 

36 

21 

12 

11 

17 

6 

7 

6 

2 


43 

4,171 


6 under 7 


3,315 


7 under 8 


2,909 


8 under 9 

9 under 10 


2,460 
2,191 


10 under 11 


2,095 


11 under 12 


1,421 


12 under 13 


1,389 


13 under 14 


1,068 


14 undpr 15 


1,033 


15 under 20 


4,345 


20 under 25 . . 


3,001 


25 under 30 


2,553 


30 under 40. 


2,933 


40 under 50 


2,117 


50 under 60 


1,704 


60 under 70 


1,149 


70 under 80 


1,125 


80 under 90 


583 


90 under 100 


344 


100 under 150 


1,855 


150 under 200 


1,105 


200 under 250 


555 


250 under 300 


882 


300 under 400 


765 


400 under 500 


227 


500 under 750 


314 


750 under 1,000 


161 


1,000 under 1,500 .. 


230 


1,500 under 2,000 

2,000 under 3,000 


115 
11 


3,000 under 4,000 










4,000 under 5,000 




1 


2 










1 


17 












Nontaxable returns 18 . . 
Taxable returns 


76, 973 
156, 046 


7, 077, 557 
14, 977, 892 


39 

3 7, 979 


8,087 
22, 575 


8 22 
8 16,891 


34, 327 
64, 935 






Total, individual re- 
turns and taxable fi- 
duciary returns with 
net income 


233, 019 


22, 055, 449 


3 7, 988 


30, 662 


8 16, 913 


99, 263 






ndividual returns with no 
net income: 
Nontaxable 19 


12, 828 
155 


311,899 
6,870 


7,477 
2 


37, 780 
20 


54,018 
3 


142, 664 


Taxable 20 


52 






Total, individual re- 
turns with no net in- 
come 


12, 983 


318, 769 


7,479 


37, 800 


54,021 


142, 717 






Grand total 


246,002 


22, 374, 219 


3 15, 467 


68, 462 


8 70, 934 


241, 979 



For footnotes, see p. 130. 



128 



STATISTICS OF INCOME 



Table 7. — Individual returns and taxable fiduciary returns with net income, 1 by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 







Deductions- 


Continued 






Net income 2 classes 


Net long-term capital 
loss e 14 


Net loss from sale of 
property other than 
capital assets 12 


Contributions 15 (indi- 
vidual returns) 


(1) 


Number of 
returns 3 

(31) 


Amount 

(32) 


Number of 
returns 3 

(33) 


Amount 
(34) 


Number of 
returns 3 

(35) 


Amount 
(36) 


Individual returns and tax- 
able fiduciary returns 2 with 
net income: 
Under 1 (est.) 1 *. 




25, 306 
4,268 
19, 515 

12, 645 
8,716 
8,103 
7,426 
8,590 
5,464 

23, 830 
1,143 
24, 559 
229 
20, 152 
17, 669 
15, 263 

13, 653 
11,865 
10, 517 

9,434 

8,744 

8,181 

6,765 

28, 830 

19, 203 

14, 067 

17, 697 

10, 656 

7,630 

5,408 

3,144 

2,729 

1,748 

4,954 

1,479 

2,146 

787 

1,020 

69 

1,624 

50 

451 

(25) 

52 




2,737 

145 

2,244 

714 

1,115 

330 

903 

440 

613 

1,472 

167 

1,425 

12 

1,079 

991 

863 

549 

422 

449 

356 

298 

204 

246 

798 

599 

408 

524 

326 

97 

108 

60 

9S 

52 

131 

25 

74 

7 

22 

86 

54 

215 

314 

24 

(25) 

11 




10, 345 


Under 1 (est.) 








656 


1 under 2 (est.) 18 








28,285 










46, 241 


2 under 2.5 (est.) 18 








17, 799 










10, 052 


2.5 under 3 (est.) 18 








23, 709 


2.5 under 3 (est.) 








12, 219 


3 under 4 (est.) 18 








15, 922 










35, 310 


4 under 5 (est.) 18 . 








1,518 










28, 157 


5 under 6 18 


65 

14, 337 

10,971 

8,369 

6,857 

5,353 

4,499 

3,833 

3, 281 

2,806 

2,437 

8,544 

4,855 

3,012 

3,478 

1,836 

1,028 

653 

395 

314 

213 

456 

132 

88 

40 

46 

10 

29 

6 

2 

1 

2 


8 

1,312 

950 

643 

461 

377 

308 

268 

200 

172 

160 

474 

280 

146 

185 

130 

49 

31 

25 

17 

10 

37 

10 

9 

4 

4 

2 

4 

4 

5 

1 

1 


478 

131,827 

83, 369 

54, 878 

38,416 

28, 494 

21, 595 

17, 269 

13, 848 

11,326 

9, 530 

29, 781 

15,238 

8,739 

9,361 

4,615 

2,585 

1,556 

1,019 

760 

478 

1,182 

382 

207 

98 

119 

57 

67 

30 

26 

12 

4 

1 

1 

3 


92 


5 under 6 


19, 243 




14, 530 


7 under 8 


11, 051 


8under9 


8,864 


9 under 10 


7,333 


10 under 11 


6,157 


11 under 12 


5,382 


12 under 13 


4,737 


13 under 14 


4,222 


14 under 15 


3,737 


15 under 20 


14. 332 


20 under 25. 


9,633 


25 under 30 


7,247 


30 under 40.. __ 


10,244 


40 under 50 


6, 995 


50 under 60 


5,059 


60 under 70 


3,780 


70 under 80... 


2,858 


80 under 90.. 


2,677 


90 under 100 


1,966 


100 under 150 


6,854 


150 under 200 


3,190 


200 under 250.. 


2,306 


250 under 300... 


1,489 


300 under 400 


2,367 


400 under 500... 


1,966 


500 under 750 . 
750 under 1,000 . 


2,775 
2,137 


1,000 under 1,500 


1,738 


1,500 under 2,000 


934 


2,000 under 3,000 .. 


438 


3,000 under 4,000 . 


622 


4,000 under 5,000 






59 


5,000 and over. 






1 


(25) 


192 


Nontaxable returns 19 
Taxable returns 


3 65 

3 87, 883 


67,800 
327, 979 


38 

3 6, 282 


7,790 
14,016 


3 478 
3 486, 873 


97, 669 
309, 750 






Total, individual re- 
turns and taxable fi- 
duciary returns with 
net income... 


3 87, 948 


395, 779 


3 6, 290 


21, 805 


3 487, 351 


407, 419 


Individual returns with no 
net income: 
Nontaxable 18 


21, 320 
26 


185, 452 
6,768 


3,826 
1 


21, 427 

(25) 


30, 835 
14 


6,438 


Taxable 20 


122 






Total, individual re- 
turns with no net in- 
come 


21,346 


192, 220 


3,827 


21, 427 


30, 849 


6,560 


Grand total 


3 109. 294 


587, 999 


3 10, 117 


43, 232 


3 518, 200 


413, 979 



For footnotes, see p. 130. 



STATISTICS OF INCOME 



129 



Table 7. — Individual returns and taxable fiduciary returns with net income, 1 by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 



Net income 2 classes 



(1) 



Individual returns and 
taxable fiduciary re- 
turns 2 with net in- 
come: 

Under 1 (est.) » 

Under 1 (est.) 

1 under 2 (est.) 1S .._ 

1 under 2 (est.) 

2 under 2.5 (est.) ".. 

2 under 2.5 (est.) — 
2.5 under 3 (est.) «.. 
2.5 under 3 (est.).... 

3 under 4 (est.) 18 .._ 

3 under 4 (est.) 

4 under 5 (est.) i 8 .._ 

4 under 5 (est.) 

5 under 6 1S 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

SOunder GO 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500.... 
1,500 under 2,000.... 
2,000 under 3,000. .. 

3,000 under 4,000 

4,000 under 5,000 

5,000 and over 



Nontaxable re- 
turns 18 

Taxable returns 

Total, individual 
returns and tax- 
able fiduciary 
returns with 
net income 

Individual returns with 
no net income: 

Nontaxable IB 

Taxable 20 



Total, individual 
returns with no 
net income 

Grand total 



Deductions — Continued 



Interest paid 16 



Num- 
ber of 
returns 3 

(37) 



302 
85, 444 
53, 992 
35, 618 
24, 989 

18, 728 
14, 377 
11,391 

9,112 
7,516 
6,350 

19, 630 
10, 304 

5,996 

6,387 

3,245 

1,844 

1,136 

721 

549 

353 

891 

290 

175 

82 

101 

50 

57 

25 

22 

12 

3 

1 

1 

2 



3 302 
3 319,394 



3 319,696 



31,771 
21 



31, 792 



3 351,488 



Amount 



(38) 



24, 195 
2,079 
37, 993 
18, 285 
36, 038 
6,779 
39, 743 

12, 794 
27, 968 
48, 320 

2,531 
42, 384 
135 
31, 188 
22, 844 
18, 160 

13, 498 
11,150 

9,129 

8,081 

6,709 

6,016 

5,066 

18, 198 

11,428 

7,811 

10, 335 

6,275 

3,859 

3,273 

2,350 

1,935 

1,248 

4,048 

1,371 

1,531 

746 

818 

756 

624 

262 

621 

369 

22 

112 



168, 603 
340, 491 



509, 093 



47, 869 
180 



48,049 



Taxes paid 16 



Num- 
ber of 
returns 3 

(39) 



142, 965 

88, 936 

58, 327 

45, 981 

30, 768 

23, 696 

18, 651 

15, 031 

12, 308 

10, 324 

32, 176 

16, 443 

9,482 

10, 134 

4,973 

2,776 

1,679 

1,085 

801 

520 

1,278 

408 

222 

112 

140 

63 

74 

34 

27 

16 

4 

1 

1 

3 



3 468 
529,439 



3 529,907 



46, 566 
25 



46, 591 



Amount 



(40) 



34, 783 
6,899 

53, 121 
51, 158 
41,110 

16, 959 
47, 053 
24, 349 
28, 455 
71, 297 

2,555 
57, 237 
190 
41, 562 
32, 277 
25, 058 
20, 915 

17, 581 
15, 078 
13, 399 
11,884 
10, 605 

9,461 

35, 683 
23,928 
17, 373 
23, 197 
15, 401 
10, 649 

7,392 
5,397 
4,873 
3,610 
10, 286 
4,630 
4,140 
2,147 
5,291 
1,768 
2,462 
1,433 
1,308 
1,074 
661 
592 
10 



207, 268 
609,113 



Other 
deduc- 
tions 131 



(41) 



64, 238 
8,876 
77, 432 
32, 770 
49, 394 

12, 521 
39, 931 
17, 853 
26, 553 
53, 300 

2,412 
41, 974 
215 
30, 307 
22, 680 
15, 408 

13, 409 
11,128 

9,729 
8,724 
6,882 
6,474 
6,156 
22, 152 
15,343 
11,002 

14, 583 
8,953 
7,035 
4,722 
3,303 
2,589 
2,753 
6,940 
3,011 
2,128 
1,802 
2,495 
1,207 
1,817 
1,285 

929 

288 

401 

1,443 

11 

3 



260, 176 
414, 386 



816,381 674, 562 



44, 093 
685 



44, 779 



557,142 i3 576,498 i 861. 160 



178, 928 
445 



179. 374 



853, 936 



Total 
deduc- 
tions I7 



(42) 



177, 757 

23, 570 

231, 505 

165,006 

159, 793 

56, 348 

162, 992 

78, 526 

107, 997 

240, 978 

10, 752 

204, 559 

926 

149, 156 

115,412 

89, 594 

73, 994 

62, 238 

53, 674 

47, 174 

41, 187 

37, 066 

32, 762 

126, 831 

84, 269 

61, 271 

80, 320 

51,549 

36, 622 

26, 179 

18, 540 

15, 659 

11,815 

35, 350 

15, 213 

13,047 

7,877 

12, 873 

6,103 

9,702 

5,613 

5,594 

2,811 

1,585 

2,780 

91 

309 



851, 720 
2, 103, 244 



2, 954, 964 



664, 652 
8,273 



672, 925 



Amount 
distrib- 
utable 
to bene- 
ficiaries 
(fiduciary 
returns) 

(43) 



75, 971 



25, 504 



5,946 



8,661 



7,078 



5,107 
3,362 
4,206 
3,256 
2,182 
1,533 
1,931 
1,701 
1,401 
1,406 
4,399 
3, 551 
4,343 
3,827 
2,836 
2,880 
1,962 
1,0.53 
1,211 

654 
3,935 
1,295 

400 
1,810 
3,631 
1,520 
2,159 
1,104 

415 



1,677 



203, 112 



203, 112 



3, 627. 8S9 I 203,112 « 18, 543, 218 



For footnotes, see p. 130. 



130 



STATISTICS OF INCOME 



Footnotes for table 7 



' This table contains data for individual returns with net income and with no net income shown in basic 
table 7-A and data for taxable fiduciary returns with net income shown in basic table 11. Unlike basic 
table 7 in Statistics of Income for 1937, Part 1 (pp. 133-137), excludes nontaxable returns with net income 
for estates and trusts filed incorrectly on Form 1040 instead of Form 1041. For 1937, these incorrectly filed 
nontaxable returns with net income, which numbered 3,784, were tabulated as individual returns; but for 
1938 these returns, which number only 276, are tabulated in basic table 11 in this report as fiduciary 
returns. 

2 For taxable fiduciary returns the net income used for classification and tabulation is the net income tax- 
able to the fiduciary (item 17 on p. 1, Form 1041, facsimile on p. 298). 

3 The number of returns with net income under $5,000, which is not available, is excluded from the totals 
in this column. 

* Excludes dividends received through partnerships and fiduciaries and dividends received on share 
accounts in Federal savings and loan associations. 

5 Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and on 
obligations of instrumentalities of the United States other than those issued under the Federal Farm Loan 
Act, or such act as amended (see item 5 on p. 1, Form 1040, facsimile on p. 290, and item 4 on p. 1, Form 
1041, facsimile on p. 298). 

« For 1938, partnership profit or loss includes dividends received, and excludes (1) taxable interest on obli- 
gations of the United States, and (2) net gain or loss from the sale or exchange of capital assets. The item 
"Charitable contributions" is not an allowable deduction in the computation of partnership profit or loss. 
For 1937, partnership profit or loss included (1) dividends received and (2) net gain or loss from the sale or 
exchange of capital assets (as defined by sec. 1 17(b) of the Revenue Act of 1936) and deluded taxable interest 
on obligations of the United States. The item "Charitable contributions" (limited to 15 percent of part- 
nership net income before deduction of contributions or gifts) was an allowable deduction in the computa- 
tion of partnership profit or loss. Each item which is excluded from partnership profit or loss for 1938 
and 1937 is reported under its appropriate classification. 

t For 1938, income from fiduciaries includes (1) dividends received, and (2) net gain or loss from sale or 
exchange of capital assets, and excludes (1) taxable interest on obligations of the United States, and (2) net 
gain or loss from sale or exchange of capital assets received from "Common trust funds." For 1937, income 
from fiduciaries included (1) dividends received, and (2) net gain or loss (including that received from "Com- 
mon trust funds") from sale or exchange of capital assets as defined by sec. 117(b) of the Revenue Act of 
193fi, and excluded taxable interest on obligations of the United States. Each item which is excluded from 
income from fiduciaries for 1938 and 1937 is reported under its appropriate classification. 

8 If two or more businesses in different industrial groups are reported on one return, each business is 
counted separately. Consequently, the number of businesses exceeds the number of returns showing 
business profit or loss. The number of businesses with net income under $5,000 which is not available, is 
excluded from the totals in this column. 

9 Unlike 1937, (1) capital assets exclude property used in trade or business of a character which is subject 
to the allowance for depreciation and (2) "Net capital gain" and "Net long-term capital loss" include the 
participant's share of net capital gain or loss to be taken into account from partnerships and "Common 
trust funds." Net long-term capital gain and loss include losses from worthless stocks and bonds, which 
for 1937 were tabulated in "Other deductions." 

10 Consists of net short-term capital gain on capital assets held 18 months or less. 

11 Consists of net long-term capital gain on capital assets held over 18 months. Includes net capital gain 
of $605,760 on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) of 
the Revenue Act of 1936, reported on 168 fiscal year returns with year ended in period July through Novem- 
ber 1938. 

i 2 Consists of net gain or loss from property used in trade or business of a character which is subject to the 
allowance for depreciation, which under the Revenue Act of 1938 is excluded from capital assets. For 1937, 
net gain or loss from the sale of depreciable property was included in "Net capital gain or loss." 

13 The number of returns with "Other income" and "Other deductions" is not available, since the amount 
of "Other income" is secured by deducting the sum of the specific sources of income from total income and 
the amount of "Other deductions" is determined by subtracting the sum of the specific deductions from 
total deductions. 

14 Consists of net long-term capital loss on capital assets held over 18 months. Includes net capital loss of 
$204,378, on sale of capital assets (regardless of period capital assets were held), as defined in sec. 117(b) of the 
Revenue Act of 1930, reported on 166 fiscal vear returns with year ended in period Julv through November 
1938. 

is Reported on individual returns. Includes charitable contributions of partnerships. For 1937, such 
contributions were allowed as a deduction in the computation of partnership profit or loss. (See footnote 6.) 

18 Excludes amounts reported in Schedule C and in schedules for business deductions, Forms 1040 and 
1041. 

17 Includes "Amount distributable to beneficiaries" (if any) for a small number of taxable returns for es- 
tates and trusts incorrectly filed on Form 1040 instead of Form 1041, for which adjustment was not made to 
remove this amount from "Other deductions" and "Total deductions." (See text, p. 50). 

is Nontaxable individual returns. Exemptions from normal tax and surtax exceed net income. A negli- 
gible number of nontaxable individual returns in net income classes of $6,000 and over is not tabulated 
separately. 

i' Includes returns with zero net income (total income equals total deductions). 

* Returns with net long-term capital loss on which the tax, computed on net income before the deduction 
of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

- 1 [ncludes taxable interest received on partially tax-exempt Government obligations. 

22 Tabulated with "Taxable interest received on bank deposits, notes, mortgages, corporation bonds." 

m Deficit. 

24 Net income less deficit. 

2 « Less than $500. 



STATISTICS OF INCOME 



131 



Table 7-A. — Individual returns 1 with net income (excluding fiduciary returns), by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount for each specific source of income and deductions, and net income 

[Net income classes and money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating and estimating data see pages 1-6 

and 14-15] 





Total 

number of 

returns 

(2) 




Sources of 


income 




Net income classes 


Salaries, wages, commis- 
sions, etc. 


Dividends from domes- 
tic and foreign cor- 
porations 3 


(1) 


Number of 
returns 2 

(3) 


Amount 
(4) 


Number of 
returns 2 

(5) 


Amount 
(6) 


Returns with net income: 

Under 1 (est.) 16 . 


339, 369 

27, 222 

1, 241, 979 

1, 181, 299 

466, 146 

205, 450 

732, 327 

205, 960 

356, 083 

495, 613 

18, 542 

297, 241 

666 

162. 978 

101. 823 

65, 960 

45, 575 

33, 929 
25, 458 
20, 251 
16, 266 
13,235 
11,095 

34, 247 
17,388 

9,868 

10, 457 

5,105 

2,809 

1,697 

1,112 

800 

526 

1,249 

395 

219 

103 

124 

58 

71 

31 

27 

14 

4 

1 

1 

3 




179, 395 

3,384 

1, 416, 223 

1, 578, 399 

831, 514 

362, 148 

1, 776, 583 

448, 944 

1, 007, 091 

1, 325, 997 

62, 113 

939. 913 

1.979 

587, 153 

410, 205 

297, 245 

224, 713 

182, 479 

146, 752 

126, 092 

106, 179 

95, 900 

82, 765 

288, 124 

176,616 

117, 080 

145, 142 

84, 912 

54, 218 

36, 505 

27, 581 

20, 349 

14, 276 

41, 125 

16, 393 

9.397 

5,086 

5,069 

2,907 

1,577 

340 

814 

183 

27 

9 

93 

1 




39, 406 


Under 1 (est). 






10, 641 


1 under 2 (est.) 16 -. 






53,691 








94, 351 


2 under 2.5 (est.) I6 






32, 170 








42, 751 


2.5 under 3 (est.) > 6 






36. 155 


2.5 under 3 (est.) 






48, 776 








21,844 








121,961 








2,070 


4 under 5 (est.) 






108, 153 


5 under 6' 6 


385 

113,751 

68,977 

43, 890 

29, 897 

22. 035 

16, 490 

13, 080 

10, 401 

8,641 

7,182 

21, 991 

11,115 

6,369 

6,682 

3,280 

1,821 

1,136 

733 

510 

319 

810 

270 

139 

73 

82 

39 

35 

16 

17 

7 

4 

1 

1 

2 


229 

82, 136 

55, 678 

38, 498 

28, 432 

21, 733 

17,312 

14, 093 

11.703 

9,731 

8, 259 

26, 661 

14, 174 

8,398 

9,054 

4,552 

2,576 

1,561 

1,014 

744 

487 

1,169 

378 

211 

102 

122 

57 

65 

31 

27 

14 

4 

1 

1 

3 


277 




83, 896 


6 under 7 


72,344 




62, 004 


8 under 9 


55, 091 


9 under 10 


49, 390 


10 under 11 


45, 483 


11 under 12 . 


41, 895 


12 under 13 


38, 893 


13 under 14 


35, 746 


14 under 15 


32, 576 


15under20 


137, 795 


20 under 25 


103, 957 


25 under 30 


80, 605 


30under40 . 


117, 718 


40under 50 


84, 039 


50 under 60 


63, 765 


60 under 70 


47, 187 


70 under 80 


35, 900 


80 under 90 


32, 184 


90 under 100 


22,742 


100 under 150 


75, 138 


150under200 


34, 214 


200 under 250 


28, 477 


250 under 300 


16.811 


300 under 400 


28,300 


400 under 500 


15, 959 


500 under 750... 


19, 442 


750 under 1,000. 


13, 744 


1,000 under 1,500 


12, 507 


1,500 under 2,000 


11, 032 


2.000 under 3,000_ 


3,966 


3,000 under 4,000 


6,062 


4,000 under 5.000 


188 


5,000 and over . 


780 








3, 155, 112 
2, 995, 664 


2 385 
a 389, 796 


5, 274, 899 
7, 966, 092 


2 229 
2 358, 981 


185, 612 


Taxable returns 


1, 936, 464 






Total, individual returns with net 
income 


6, 150, 776 


2 390, 181 


13, 240, 991 


2 359, 210 


2, 122, 076 






Returns with no net income: 

Nontaxable I7 _ .. 


100, 207 
26 


20, 500 
21 


65, 192 
633 


33, 903 
26 


85, 573 


Taxable 1S 


3,852 






Total, individual returns with no 


100, 233 


20. 521 


65, 825 


33, 929 


89, 424 








6, 251, 009 


2 410, 702 


13, 306, 816 


2 393, 139 


2, 211, 501 







For footnotes, see p. 138. 



132 



STATISTICS OF INCOME 



Table 7- A.- — Individual returns 1 with net income (excluding fiduciary returns) by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount for each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 





Sources of income— Continued 




Taxable interest 


Partnership profit £ 


Net income classes 


Bank deposits, notes, 
mortgages, corpora- 
tion bonds 


Partially tax-exempt 
Government obliga- 
tions 4 


Number of 
returns 2 

(11) 


Amount 


(1) 


Number of 
returns 2 

(7) 


Amount 

(8) 


Number of 

returns 2 

(9) 


Amount 

(10) 


(12) 


Returns with net income: 
Under 1 (est.) « 




19 30, 662 

19 4,696 

19 44, 536 

is 70, 366 

19 25,939 

19 31,341 

19 25, 426 

19 33, 574 

19 14,063 

19 76,360 

19 2, 139 

"61,148 

130 

38, 569 

30, 808 

24, 365 

20, 375 

17, 034 

15, 062 

13, 742 

11,507 

10, 607 

9,380 

34,815 

22, 191 

15, 196 

19, 497 

10, 707 

6,532 

5, 053 

2,940 

2,537 

2,166 

4,399 

2.093 

1,897 

1,181 

939 

276 

542 

665 

574 

199 

193 

73 

1 

7 




(20) 
(20) 
(22) 
(20) 
(20) 
(20) 
(20) 
(20) 
(20) 
(20) 
(20) 
(20) 

334 

3,089 

3,098 

2,534 

2,230 

2,164 

1,993 

1,667 

1,505 

1,409 

1,206 

4,983 

3,371 

2,381 

3,429 

1,651 

1,042 

833 

507 

384 

233 

873 

443 

308 

113 

195 

12 

58 

43 

1 

2 

1 




11, 308 


Under 1 (est.) 








545 


1 under 2 (est.) » 








32, 348 










18, 368 


2 under 2.5 (est.) i 6 








30, 720 


2 under 2.5 (est.) 








11,451 


2.5 under 3 (est.) I6 








36, 799 


2.5 under 3 (est.) 








18, 204 


3 under 4 (est.) i 6 








32, 258 


3 under 4 (est.) 








73, 190 


4 under 5 (est.) i 6 








3,488 


4 under 5 (est.) .. 








81, 190 




179 

63, 768 

42, 832 

29, 283 

21,417 

16, 309 

12, 960 

10, 493 

8,699 

7,324 

6,286 

20, 260 

10, 892 

6, 500 

7,192 

3,593 

2,112 

1,303 

844 

630 

423 

1,018 

331 

182 

92 

112 

49 

61 

28 

27 

12 

4 

1 

1 

3 


104 

7,380 

5,918 

4,445 

3,504 

2,922 

2,441 

2,105 

1,791 

1, 529 

1,337 

4,773 

2,742 

1,750 

2,013 

1,043 

596 

378 

262 

189 

121 

285 

92 

71 

27 

20 

12 

22 

9 

2 

3 

4 


59 

18, 470 

13,017 

8,968 

6,610 

5,083 

4,084 

3,288 

2,824 

2,156 

1,932 

6,262 

3,402 

2,037 

2,153 

1,095 

569 

388 

215 

153 

110 

198 

54 

24 

19 
5 
7 
4 
3 


197 




73, 635 




61,259 


7 under 8- 


48, 581 


8 under 9 

9under 10 


40, 453 
34, 635 


lOunder 11 


30. 559 


11 under 12 


26, 307 


12 under 13 


24, 950 


13 under 14 ... 


20,090 


14 under 15 


19,310 


15 under 20 


72, 996 


20 under 25 


50, 698 


25 under 30 


36, 582 


30 under 40 


46, 889 


40 under 50 


29, 947 


50 under 60 


19, 065 


60 under 70.. 


14, 634 


70 under 80 


9, 253 


80 under 90 


7,361 


90 under 100 


5,455 


100 under 160-.. 


12,616 


150 under 200 


5, 002 


200 under 250 


2,094 


250 under 300. 


1,275 


300 under 400 


2.476 


400 under 500 


130 


500 under 750... 


30 


750 under 1 ,000 


61 


1,000 under 1,500 


1,118 


1,500 under 2,000 




2,000 under 3,000. . 






3,000 under 4,000 






4,000 under 5,000 










5,000 and over.. 


1 


5 












Nontaxable returns ' 6 
Taxable returns 


2 179 
2 275, 041 

2 275, 220 


142,896 
603, 607 


2 104 

2 47, 787 


334 

41,764 


2 59 
2 83, 137 


147, 120 
900, 406 






Total, individual re- 
turns with net in- 
come. 


746, 504 


2 47, 891 


42,099 


2 83, 196 


1 047,526 






Returns with no net income: 
Nontaxable 17 


29, 339 
25 


31, 607 
427 


3,329 
3 


2,365 
8 


4,898 
6 


13,046 
487 


Taxable '« 






Total, individual re- 
turns with no net in- 
come 


2'.i,3f,| 


32, 034 


3,332 


2.373 


4,904 


13, 533 




Grand total _. 


' 304, 584 


778, 537 


2 51, 223 


44,471 


2 88, 100 


1 061 059 







For footnotes, see p. 138. 



STATISTICS OF INCOME 



133 



Table 7-A. — Individual returns 1 with net income (excluding fiduciary returns), by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1988: total number of returns, number of returns and 
amount for each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 







Sources of income— Continued 




Net income classes 


Income from fiduciaries 6 


Rents and royalties 


Business profit 


(1) 


Number of 
returns 2 

(13) 


Amount 
(14) 


Number of 
returns 2 

(15) 


Amount 
(16) 


Number of 
businesses 

(17) 


Amount 
(18) 


Returns with net income: 
Under 1 (est.) '« _ 




7,442 

1,053 
10, 899 
17, 190 

6,929 
10, 628 

7,416 
12,019 

6,124 

29. 637 
988 

28, 666 
174 
28, 566 
24, 691 
21,673 
19, 829 
17, 451 
15,471 
14, 288 
13, 730 
12, 366 
11,362 
47, 914 
33, 918 
25, 899 
37, 024 
25, 609 

18. 638 
11, 766 

9,524 
7,553 
7,238 
22, 835 
12, 360 
9,047 
4,832 
6,583 
3,753 
16, 582 
6,389 
5,611 
4,620 
70 




48, 265 

1,902 

72, 135 

36, 198 

51, 280 

16, 690 

42, 639 

24, 606 

23, 943 

71,383 

2,570 

57, 747 

171 

40, 099 

30, 662 

22, 621 

18, 551 

14,729 

12, 780 

11,076 

9,259 

7,820 

7,594 

25, 842 

16, 533 

11, 552 

15, 909 

9,164 

5,247 

3,494 

2,540 

2,198 

1,978 

4,401 

1,633 

628 

465 

1,140 

200 

1,057 

62 

48 

(23) 

19 




80, 361 
1 059 


Under 1 (est.) 








1 under 2 (est.) ««.. 








258, 443 

46, 057 
219, 855 

21, 203 
201, 542 

52, 905 
160, 157 
221, 965 

14, 859 

211,204 

1 110' 


1 under 2 (est.) 








2 under 2.5 (est.) '« 








2 under 2.5 (est.) 








2.5 under 3 (est.) '« 








2.5 under 3 (est.) 








3 under 4 (est.) i« 








3 under 4 (est.) 








4 under 5 (est.) is 








4 under 5 (est.) 








5 under 6 I6 


45 

10, 851 

7,822 

5,845 

4,526 

3,658 

2,952 

2,482 

2,212 

1,837 

1,610 

5,490 

3,116 

1,956 

2,294 

1,172 

699 

426 

304 

225 

166 

391 

138 

87 

44 

52 

16 

37 

17 

11 

8 

1 


171 

34, 457 

22, 670 

14, 897 

10, 902 

8,098 

6,253 

5,140 

4,164 

3,306 

2,915 

8,954 

4,742 

2,718 

2,974 

1,508 

798 

520 

334 

241 

147 

370 

107 

72 

29 

28 

29 

23 

13 

6 

2 

4 


233 

33, 580 

21, 360 

13, 590 

9,052 

6,535 

4,808 

3,655 

2,912 

2,197 

1,897 

5,530 

2,536 

1,309 

1,271 

579 

274 

157 

97 

72 

46 

83 

21 

17 

3 

4 

3 

2 

3 

3 


5 under 6 


157,689 
117,487 
84 989 


6 under 7_. 


7 under 8 


8 under 9 


64 121 


9 under 10 


51 602 


10 under 11. 


41 263 


11 under 12 


34 176 


12 under 13 


28, 784 
23, 077 
21 439 


13 under 14 . 


14 under 15 


15 under 20_ . . 


72, 459 
41 958 


20 under 25 


25 under 30 


25, 420 
30, 538 
16, 856 
10, 036 
6,334 
4,962 
3,876 
2,649 
6,155 
1,156 


30 under 40_ 


40 under 50 


50 under 60. 


60 under 70 


70 under 80 


80 under 90 


90 under 100. 


100 under 150 


150 under 200 


200 under 250 


1 286 


250 under 300... 


147 


300 under 400.... 


43 


400 under 500. . 
500 under 750.... 


343 

376 


750 under 1,000.. 


1,749 
682 


1,000 under 1,500.. 


1,500 under 2,000 




2,000 under 3,000. 


1 


68 


3,000 under 4,000... 




4,000 under 5,000. 


1 


688 










5,000 and over.. 


1 


4 
















Nontaxable returns > 6 

Taxable returns 


M5 
2 60, 446 


39, 972 

597, 069 


2 171 

2 136, 422 


241, 004 
487, 830 


'233 
7 111, 597 


936, 328 
1,406,115 






Total, individual re- 
turns with net in- 
come . 


> 60, 491 


637, 041 


2 136, 593 


728, 834 


'111,830 


2, 342, 443 




Returns with no net income: 
Nontaxable 17 .. 


5,174 
15 


18, 205 
1,086 


27, 622 

13 


41,480 
121 


9,794 
2 


25, 865 
90 


Taxable is. 






Total, individual re- 
turns with no net in- 
come 


5,189 


19, 291 


27, 635 


41, 601 


9,796 


25,954 






Grand total 


2 65, 680 


656, 332 


2 164, 228 


770, 435 


7 121, 626 


2, 368, 398 







For footnotes, see p. 138. 



134 



STATISTICS OF INCOME 



Table 7-A.- — Individual returns 1 with net income (excluding fiduciary returns), by 
net income classes, also aggregate for individual returns with no net income {ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount for each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 







Sources of income 


—Continued 










Net capital gain 8 


! 


Net gain 
of prop 
than c 
sets h 


from sale 
erty other 


Net income classes 


Short-term « 


Long-term " 


apital as- 


(1) 


Number 
of 

returns 2 

(19) 


Amount 

(20) 


Number 

of 
returns 2 

(21) 


Amount 

(22) 


Number 

of 
returns 2 

(23) 


Amount 

(24) 


Returns with net income: 
Under 1 (est.) 19 




2,724 

606 

3,764 

3,651 

2,971 

2,383 

3,064 

2,760 

2,832 

9, 885 

252 

10, 622 

46 

8,261 

7,244 

5,825 

4,664 

4,451 

3,806 

3, 351 

2,983 

2,765 

2,466 

9,284 

6,295 

4,163 

6,428 

3, 501 

2,370 

1,619 

1,046 

1,080 

566 

2,152 

474 

254 

426 

107 

124 

160 

87 

145 

29 

1 




1,925 
307 
2,848 
2.478 
2,323 
1,689 
2,102 
2,278 
1,304 
6,575 
143 
6,660 
24 
5,937 
5,241 
4,388 
4,064 
3,724 
3,067 
3,121 
2,828 
2,665 
2,270 

10, 640 
8,181 
6,395 
9,394 
6,914 
5,430 
4,641 
4,510 
3,747 
2,662 

12, 072 
8,177 
7,224 
4,941 
8,133 
7,568 

12, 709 
9,190 

17, 589 

10, 884 

7,433 

162 

3,393 

21,315 




861 


Under 1 (est.) 








22 


1 under 2 (est.) 16 








1,579 










716 


2 under 2.5 (est.)" 








1,305 


2 under 2.5 (est.) 








395 


2.5 under 3 (est.)" 








1,229 


2.5 under 3 (est.) 








593 


3 under 4 (est.)" 








1,055 










2,025 


4 under 5 (est.)" 








60 










2,318 


5 under 6" 


25 

11,785 

8,835 

6,400 

4,920 

3,907 

3,268 

2, 650 

2,290 

1,945 

1,703 

5,518 

3,182 

1,954 

2,281 

1,061 

643 

373 

242 

183 

102 

301 

97 

65 

27 

29 

14 

25 

13 

9 

6 

1 


19 

8,712 

6, 513 

4, 665 

3,798 

2,996 

2,487 

2,086 

1,861 

1,528 

1,281 

4,604 

2,730 

1,702 

1,983 

1,052 

656 

434 

311 

244 

158 

448 

181 

99 

52 

57 

41 

38 

22 

23 

12 

3 

1 

1 

3 


10 

1,647 

1,143 

716 

528 

401 

316 

230 

214 

156 

132 

428 

210 

114 

126 

68 

40 

33 

18 

12 

8 

14 

3 

4 


6 


5 under 6 


1,593 


6under7__ 


1.378 


7 under 8 ... 


871 


8 under 9__ 


679 


9 under 10 .. 


648 


10 under 11 


473 


11 under 12 


406 


12 under 13 


304 


13 under 14 


247 


14 under 15 


254 


15 under 20.. 


828 


20 under 25 


487 


25 under 30 


280 


30 under 40 


308 


40 under 50 

50 under 60 


205 
42 


60 under 70_... 


176 


70 under 80 


60 


80 under 90 


8 


90 under 100 


113 


100 under 150 


22 


150 under 200. 


9 


200 under 250 


4 


250 under 300.... 




300 under 400.... 


1 


(23) 


400 under 500 




500 under 750.... 


1 


(23) 


750 under 1,000... . 


1,000 under 1,500 . 






1,500 under 2,000 






2,000 under 3,000... 






3,000 under 4,000 . 






4,000 under 5,000 


1 


(33) 






5,000 and over 
















Nontaxable returns " 


2 25 
* 63, 830 


15,653 
116,036 


"19 

» 50, 782 


10, 669 
250, 600 


»10 

2 6, 563 


6,095 


Taxable returns . 


15,466 






Total, individual returns 
with net income 


« 63, 855 


131, 689 


» 50, 801 


261, 269 


> 6, 573 


21,561 






Returns with no net income: 
Nontaxable ". 


5,405 
6 


7,769 

12 


3,010 


6,443 


1,210 


1,526 


Taxable" 












Total, individual returns 
with no net income 


5,411 


7,781 


3,010 


6,443 


1,210 


1,526 


Grand total.. _ 


2 69, 266 


139, 471 


'53,811 


267, 712 


2 7, 783 


23,087 





For footnotes, see p. 138. 



STATISTICS OF INCOME 



135 



Table 7-A. — Individual returns 1 with net income {excluding fiduciary returns), by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount of each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 





Sources of income — 
Continued 


Deductions 


Net income classes 


Other 
income 12 

(25) 


Total 
income 

(26) 


Partnership loss 6 


Business loss 


(1) 


Number 
of 

returns J 

(27) 


Amount 

(28) 


Number 
of busi- 
nesses 7 

(29) 


Amount 

(30) 


Returns with net income: 
Under 1 (est.) 16 


12, 249 

584 

21,311 

17, 483 

15, 662 
7,554 

16, 331 
8,743 

10,244 

21,421 

1,145 

16, 844 

31 

7,919 

6,980 

5,211 

4,295 

4,150 

2,905 

2,454 

2,459 

2,133 

2,035 

6,314 

4,832 

3,493 

5,102 

3,928 

2,307 

1,949 

2,442 

1,607 

1,156 

1.765 

643 

293 

259 

649 

123 

26 

110 

96 

7 


414, 600 

24, 800 

1,917,777 

1, 885, 257 

1, 220, 670 

508, 233 

2, 149, 289 

653, 402 

1, 280, 915 

1, 960, 400 

89, 827 

1, 524, 464 

4,479 

1, 036, 406 

771, 398 

580, 307 

459, 066 

382, 456 

319.613 

278, 574 

243, 380 

214, 824 

192, 658 

711,995 

469, 035 

329, 047 

437, 378 

277, 433 

188, 691 

134, 190 

101, 265 

82, 885 

61, 235 

183, 554 

82, 596 

60, 909 

35, 535 

53, 636 

31,395 

52, 560 

32, 441 

39, 185 

26, 956 

11,780 

6,305 

4,364 

22, 112 




2,888 

117 

2,525 

657 

1,115 

370 

810 

605 

642 

1,728 

98 

3,638 

10 

1,446 

1,092 

879 

645 

535 

518 

369 

544 

296 

296 

2,487 

1,103 

808 

806 

826 

589 

347 

303 

174 

76 

282 

403 

168 

16 

94 

24 

31 

69 

4 

6 




13, 265 








457 


1 under 2 (est.) 16 






10, 390 








2,422 


2 under 2.5 (est.) le 






4,505 


2 under 2.5 (est.) 






1,182 


2.5 under 3 (est.) 16 

2.5 under 3 (est.) 






3,417 






1,654 


3 under 4 (est.) 16 






2,380 








5,664 


4 under 5 (est.)' 6 






32 








5,162 


5 under 6 16 


9 

1,422 

999 

780 

606 

418 

366 

313 

285 

242 

186 

711 

399 

272 

278 

195 

113 

76 

47 

36 

23 

66 

29 

15 

6 

9 

8 

2 

4 

2 

2 


22 

3,203 

2,300 

1,597 

1,248 

1,006 

826 

625 

562 

447 

383 

1,335 

830 

534 

645 

340 

226 

153 

108 

54 

38 

179 

48 

35 

21 

12 

10 

17 

6 

7 

6 

2 


43 


5 under 6, 


4,134 


6 under 7 


3,271 


7 under 8 . 


2,909 


8under9 


2,448 


9 under 10 


■ 2,178 


10 under 11. ... . 


2,094 


11 under 12 


1,413 


12 under 13 


1,384 


13 under 14 


1,061 


14 under 15... 


1,026 


15 under 20. 


4,306 


20 under 25 


2,952 


25 under 30. 


2,549 


30 under 40 


2,904 


40 under 50 


2,115 


50 under 60 


1,690 


60 under 70... 


1,149 


70 under 80 


1,125 


80 under 90... .. 


564 


90 under 100 


335 


100 under 150 


1,843 


150 under 200 ... 


1,104 


200 under 250 


546 


250 under 300.. 


882 


300 under 400 


765 


400 under 500... . 


219 


500 under 750 


314 


750 under 1,000. . 


161 


1,000 under 1,500 


230 


1,500 under 2,000 . 
2,000 under 3,000 


115 
11 


3,000 under 4,000 








4,000 under 5,000 


1 


2 






5,000 and over . 


1 


17 


Nontaxable returns I6 


76, 973 
150, 271 


7, 077, 557 
14, 471, 720 


29 
2 7,911 


8,087 
22. 353 


7 22 
1 16, 804 


34, 327 
64, 356 






Total, individual re- 
turns with net income. 


227, 245 


21, 549, 277 


2 7,y20 


30,441 


7 16, 826 


98, 684 


Returns with no net income: 

Nontaxable 17 _ 


12, 828 
155 


311,899 
6,870 


7.477 
2 


37, 780 
20 


54, 018 
3 


142, 664 


Taxable 18 


52 


Total, individual re- 
turns with no net in- 
come 


12, 9S3 


318. 769 


7,479 


37, 800 


54,021 


142,717 


Grand total ... 


240, 227 


21.868,046 


2 15, 399 


68, 240 


i 70, 847 


241, 400 







For footnotes, see p. 138. 



136 



STATISTICS OF INCOME 



Table 7- A — Individual returns l with net income (excluding fiduciary returns), by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1938: total number of returns, number of returns and 
amount for each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 









Deductions 


—Continued 






Net income classes 


Net lonsi-term capital 
loss s » 


Net loss from sale of 
property other than 
capital assets n 


Contributions l * 


(1) 


Number 

of 
returns 2 

(31) 


Amount 
(32) 


Number 

of 
returns 2 

(33) 


Amount 
(34) 


Number 

of 
returns 2 

(35) 


Amount 
(36) 


Returns with net income: 
Under 1 (est.) 16 




25, 306 
3,697 
19, 515 
12, 159 
8,716 
7,881 
7,426 
8,429 
5,464 

23, 451 
1,143 

24, 234 
229 

19, 904 

17, 401 
15, 129 
13, 537 
11, 756 
10, 447 

9,244 
8,609 
8,115 
6,708 
28, 469 

18, 801 
13, 856 
17, 500 
10, 536 

7,518 

5,352 

3,111 

2,716 

1,738 

4,897 

1,477 

2,090 

765 

967 

67 

1,601 

50 

451 

(23) 

51 




2,737 

100 

2,244 

652 

1,115 

321 

903 

430 

613 

1,449 

167 

1,416 

12 

1,072 

983 

857 

546 

420 

442 

348 

297 

203 

241 

785 

594 

388 

522 

326 

97 

106 

59 

98 

52 

124 

19 

53 

7 

22 

86 

54 

13 

314 

24 

(23) 

11 




10, 345 
656 


Under 1 (est.) 








1 under 2 (est.) 16 








28,285 










46, 241 


2 under 2.5 (est.) 16 








17,799 










10, 052 


2 5 under 3 (est.) 16 








23,709 


2 5 under 3 (est.) 








12, 219 


3 under 4 (est.) 16 








15, 922 










35, 310 










1,518 










28, 157 




65 

14, 165 

10, 867 

8,284 

6,777 

5,308 

4,454 

3,799 

3,240 

2,780 

2,410 

8,442 

4,782 

2,955 

3,424 

1,808 

1,012 

641 

390 

307 

210 

445 

130 

85 

34 

42 

8 

28 

6 

2 

1 

1 


8 

1,306 

943 

638 

453 

375 

302 

262 

197 

167 

156 

473 

276 

142 

184 

130 

49 

29 

24 

17 

10 

36 

9 

7 

3 

4 

2 

3 

3 

5 

1 

1 

1 


478 
131, 827 
83, 369 
54, 878 
38, 416 

28, 494 
21, 595 
17, 269 
13, 848 
11,326 

9,530 

29, 781 
15, 238 

8,739 

9,361 

4,615 

2,585 

1,556 

1,019 

760 

478 

1,182 

382 

207 

98 

119 

57 

67 

30 

26 

12 

4 

1 

1 

3 


92 




19,243 




14, 530 


7 under 8 __ ... 


11,051 




8,864 


9 under 10 


7,333 


10 under 11 . . 


6,157 


11 under 12 


5,382 


12 under 13—. 


4,737 


13 under 14 


4,222 


14 under 15- . 


3,737 


15 under 20 


14, 332 


20 under 25 


9,633 


25 under 30 


7,247 


30 under 40__ 


10, 244 


40 under 50 


6,995 


50 under 60 


5,059 


60 under 70 


3,780 


70 under 80 


2, 858 


80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250. _ 


2,677 
1,966 
6,854 
3,190 
2.306 


250 under 300 


1,489 


300 under 400 


2,367 


400 under 500 


1,966 


500 under 750 


2,775 


750 under 1,000 


2,137 


1,000 under 1,500 


1,738 


1,500 under 2,000 


934 


2,000 under 3,000 


438 


3,000 under 4,000 


622 


4,000 under 5,000 






59 


5,000 and over . 






1 


(23) 


193 










Nontaxable returns 16 
Taxable returns 


2 65 

2 86, 837 


67, 800 
322, 714 


28 

2 6, 209 


7, Villi 
13, 535 


2 478 
2 486, 873 


97, 669 
309, 750 






Total, individual re- 
turns with net income. 


2 86, 902 


390, 514 


2 6, 217 


21, 325 


2 487, 351 


407, 419 


Returns with no net income: 


21, 320 
26 


185, 452 
6,768 


3,826 

1 


21, 427 

(23) 


30, 835 
14 


6,438 


Taxable 1 * 


122 


Total, individual re- 
turns with no net in- 
come 


21,346 


192, 220 


3,827 


21, 427 


30, 849 


6,560 




2 108, 248 


582, 734 


2 10, 044 


42, 752 


2 518, 200 


413, 979 







For footnotes, see p. 138. 



STATISTICS OF INCOME 



137 



Table 7-A.- — Individual returns with net income {excluding fiduciary returns), by 
net income classes, also aggregate for individual returns with no net income (ex- 
cluding fiduciary returns), 1988: total number of returns, number of returns and 
amount for each specific source of income and deductions, and net income — Con. 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



(1) 



Returns with net income: 

Under 1 (est.) 16 

Under 1 (est.)... 

1 under 2 (est.)' 6 

1 under 2 (est.) 

2 under 2.5 (est.)' 6 .... 

2 under 2.5 (est.) 

2.5 under 3 (est.)' 6 .... 
2.5 under 3 (est.) 

3 under 4 (est.) 16 

3 under 4 (est.) 

4 under 5 (est.)' 6 

4 under 5 (est.) 

5 under 6 ' 6 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

■9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100... 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 

4,000 under 5,000 

5,000 and over 



Nontaxable returns 
Taxable returns 



Total, individual 
returns with net 
income 



Deductions — Continued 



Interest paid 15 



Returns with no net income: 

Nontaxable ' 7 

Taxable '8 



Number 

of 
returns 2 

(37) 




302 
85, 025 
53, 659 
35, 380 
24, 791 

18, 553 
14, 228 
11,283 

9,020 
7,432 
6,269 

19, 354 
10, 126 

5,880 

6,267 

3,164 

1,795 

1,107 

708 

532 

342 

872 

277 

168 

77 

94 

44 

53 

23 

22 

11 

3 

1 

1 

2 



2 302 
2 316, 563 



2 316, 865 



31,771 
21 



Total, individual 
returns with no 
net income 



Grand total. 



31, 792 
2 348, 657 



24, 195 

1,259 

37, 993 

17, 261 

36, 038 

6,397 

39, 743 

12, 566 

27, 968 

47, 712 

2,531 

41,818 

135 

30, 885 

22, 596 

17, 949 

13,312 

10, 995 

9,018 

7,932 

6,628 

5,864 

4, 962 

17,671 

11, 124 

7,649 

10, 203 

6,142 

3,629 

2,839 

2,230 

1,871 

1,220 

3,979 

1,308 

1,188 

702 

783 

382 

534 

214 

621 

369 

22 

112 



168. 603 
331, 962 



500, 564 



47, 869 
180 



48, 049 
548, 613 



Taxes paid '5 



Number 

of 
returns 2 

(39) 



468 

141,977 

88, 206 

57, 826 

45, 537 

30,417 

23, 397 

18,418 

14, 824 

12, 155 

10, 160 

31,641 

16, 118 

9,228 

9,890 

4,827 

2,691 

1,619 

1,064 

771 

495 

1,221 

391 

213 

103 

123 

58 

69 

30 

26 

14 

4 

1 

1 

3 



2 468 
2 523, 518 



2 523, 986 



46, 566 
25 



Amount 
(10) 



34, 783 
2,572 
53, 121 
48, 199 
41,110 
15,818 
47, 053 

23, 500 
28, 455 
69, 863 

2,555 

56, 260 

190 

40, 542 

31,660 

24, 535 
20, 388 
17.047 
14.816 

13, 034 
11,643 
10, 331 

9,124 
34, 736 
23, 302 
16, 899 
22, 697 

14, 712 
10, 288 

7,082 
5,328 
4,658 
3,502 
9,995 
4,458 
3,958 
2,064 
3,618 
1,576 
2,362 
1,387 
1,308 
1,069 
661 
592 
10 



207, 268 
585, 683 



792, 951 



44, 093 
685 



46, 591 



44, 779 
837, 730 



Other 
deduc- 
tions 12 



(11) 



64, 238 
2,045 
77. 432 
29, 062 
49, 394 
11,313 

39, 931 
17. 006 
26, 553 
51,561 

2,412 

40, 831 
215 

29, 416 
21,988 
14,711 
12,937 
10, 642 
9,359 
8. 345 
6,550 
6,198 
5,861 
21,152 
14, 590 
10, 182 
13, 901 
8,410 
6,540 
3,946 
3,218 
2,379 
2,492 
6,527 
2,582 
2,064 
1,748 
2,062 
1,003 
1,476 
1,232 
928 
247 
312 
1,443 
11 
3 



Total 
deductions 



(12) 



260, 176 
386, 275 



646. 451 



178.928 
445 



825. 825 



177, 757 

10, 903 

231, 505 

156, 653 

159, 793 

53, 332 

162, 992 

76, 409 

107, 997 

236, 739 

10, 752 

201, 517 

926 

146, 642 

113,520 

88, 020 

72, 678 

60, 905 

52, 852 

46, 066 

40, 394 

36, 285 

31,955 

123,939 

82, 099 

59, 579 

78, 779 

50, 062 

35, 409 

24, 602 

18, 232 

15, 138 

11,381 

34, 502 

14, 540 

12, 373 

7,673 

10, 678 

5,322 

9,148 

5,264 

5,592 

2,766 

1,495 

2,780 

91 

309 



851,720 
2, 036, 628 



2, 888, 348 



664, 652 
8,273 



Net income 



(13) 



236, 843 

13, 896 

1, 686, 273 

1, 728, 604 

1,060,877 

454, 901 

1, 986, 297 

576, 993 

1,172,918 

1, 723, 661 

79, 075 

1, 322, 947 

3,554 

889, 764 

657, 877 

492, 288 

386, 389 

321, 551 

266, 762 

232, 507 

202, 986 

178, 535 

160, 702 

588, 056 

386, 936 

269, 468 

358, 599 

227, 371 

153,282 

109, 588 

83, 032 

67, 747 

49, 853 

149, 052 

68, 056 

48, 536 

27, 862 

42, 958 

26, 074 

43,412 

27, 178 

33, 592 

24, 190 

10, 285 

3,525 

4,273 

21, 804 



6, 225, 837 
12, 435, 092 



18, 660, 929 



2 ' 352, 752 
2 ' 1, 404 



672, 925 2 ' 354, 156 
3, 561, 273 | 22 18, 306, 773 



For footnotes, see p. 138. 



138 



STATISTICS OF INCOME 



Footnotes for table 7-A 



i Unlike basic table 7, Statistics of Income for 1937, Part 1 (pp. 133-137), excludes taxable fiduciary returns 
with net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly filed on 
Form 1040 instead of Form 1041 (see table 11, pp. 180-186). Data for individual returns with no net income 
are included in this table for the first time. 

2 The number of returns with net income under $5,000, which is not available, is excluded from the totals 
in this column. 

3 Excludes dividends received through partnerships and fiduciaries and dividends received on share 
accounts in Federal savings and loan associations. 

4 Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and on 
obligations of instrumentalities of the United States other than those issued under the Federal Farm Loan 
Act or such act as amended (see item 5 on p. 1, Form 1040, facsimile on p. 290) reported on returns with net 
income of $5,000 and over. 

s For 1938, partnership profit or loss includes dividends received, and excludes (1) taxable interest on 
obligations of the United States, and (2) net gain or loss from the sale or exchange of capital assets. The 
item "Charitable contributions" is not an allowable deduction in the computation of partnership profit or 
loss. For 1937, parternship profit or loss included (1) dividends received and (2) net gain or loss from sale 
or exchange of capital assets (as defined by sec. 117(b) of the Revenue Act of 1936) and excluded taxable 
interest on obligations of the United States. The item "Charitable contributions" (limited to 15 percent 
of partnership net income before deduction of contributions or gifts) was an allowable deduction in the 
computation of partnership profit or loss. Each item which is excluded from partnership profit or loss 
for 1938 and 1937 is reported under its appropriate classification. 

6 For 1938, income from fiduciaries includes (1) dividends received, and (2) net gain or loss from sale or 
exchange of capital assets, and excludes (1) taxable interest on obligations of the United States and (2) net 
gain or loss from sale or exchange of capital assets received from "Common trust funds." For 1937, income 
from fiduciaries, included (1) dividends received, and (2) net gain or loss (including that received from 
"Common trust funds") from sale or exchange of capital assets as defined by sec. 117(b) of the Revenue Act 
of 1936, and excluded taxable interest on obligations of the United States. Each item which is excluded 
from income from fiduciaries for 1938 and 1937 is reported under its appropriate classification. 

7 If two or more businesses in different industrial groups are reported on one return, each business is 
counted separately. Consequently, the number of businesses exceeds the number of returns showing 
business profit or loss. The number of businesses for returns with net income under $5,000, which is not 
available, is excluded from the totals in this column. 

8 Unlike 1937, (1) capital assets exclude property used in trade or business of a character which is subject 
to the allowance for depreciation and (2) "Net capital gain" and "Net long-term capital loss" include each 
partner's share of net capital gain or loss to be taken into account from partnerships and "Common trust 
funds." Net long-term capital gain and loss include losses from worthless stocks and bonds, which for 
1937 were tabulated in "Other deductions." 

9 Consists of net short-term capital gain on capital assets held 18 months or less. 

10 Consists of net long-term capital gain on capital assets held over 18 months. Includes net capital gain 
of $346,495 on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) of 
the Revenue Act of 1936. reported on 120 fiscal vear returns with year ended in period July through Novem- 
ber 1938. 

11 Consists of net gain or loss from property used in trade or business of a character which is subject to the 
allowance for depreciation, which under the Revenue Act of 1938 is excluded from capital assets. For 1937, 
net gain or loss from the sale of depreciable property was included in "Net capital gain or loss." 

12 The number of returns with "Other income" and "Other deductions" is not available, since the amount 
of "Other income" is secured by deducting the sum of the specific sources of income from total income and 
the amount of "Other deductions" is determined by subtracting the sum of the specific deductions from 
the total deductions. 

13 Consists of net long-term capital loss on capital assets held over 18 months. Includes net capital loss of 
$139,727 on sale of capital assets (regardless of period capital assets were held) as defined in sec. 117(b) of 
the Revenue Act of 1936, reported on 121 fiscal year returns with year ended in period Julv through November 
1938. 

u Includes each partner's share of charitable contributious of partnership. s For 1937, such contributions 
were allowed as a deduction in the computation of partnership profit or loss. (See footnote 5.) 

15 Excludes amounts reported in Schedules C and D as business deductions. 

' 6 Nontaxable returns. Exemptions from normal tax and surtax exceed net income. A negligible number 
of nontaxable returns in net income classes of $6,000 and over is not tabulated separately. 

17 Includes returns with zero net income (total income equals total deductions). 

18 Returns with net long-term capital loss on which the tax, computed on net income before the deduction 
of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

19 Includes taxable interest received on partially tax-exempt Government obligations. 

20 Tabulated with "Taxable interest received on bank deposits, notes, mortgages, corporation bonds." 

21 Deficit. 

22 Net income less deficit. 

23 Less than $500. 



STATISTICS OF INCOME 



139 



Table 8. — Individual returns with net income of $5,000 and over with business 
(sole proprietorship), 1938: for returns with receipts and deductions in Schedule D, 
by industrial groups and by businesses with net profit or loss, number of businesses, 
total receipts and net profit or loss; for all businesses with and without receipts 
and deductions in Schedule D, number of returns and net profit or loss; also grand 
totals for certain items for prior years 

[Money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating data, see pp. 48-49] 



Businesses with receipts and deductions in Schedule D 



Industrial groups ' 


Net profit 


Net loss 




Number 2 


Total re- 
ceipts 


Net 
profiit 3 


Number 2 


Total re- 
ceipts 


Net 
loss 3 




1,167 


54, 477 


14, 692 


284 


7,244 


2,397 








5,564 


539, 161 


52, 742 


332 


9,426 


1.012 








982 

317 

53 

242 

493 
98 
32 

268 

215 
77 
795 
219 
40 
172 
376 

162 
70 

99 

34 

27 
319 
474 


128, 3?1 

32, 790 

6,214 

28,075 

73, 202 
13,315 
3,608 
23,642 

18, 160 
7,611 

39, 775 
18, 793 

5,336 
12, 655 
30, 670 

11,586 
5,581 

7,943 

2,906 

2,825 

25, 857 

40, 297 


8,931 

3,675 

473 

2,399 

4,506 

1,066 

408 

2,100 

1,986 
785 
6,349 
2,092 
419 
1,853 
3,872 

1,467 
818 

1,065 

352 

286 
3,102 
4,738 


31 
16 


890 
729 


36 




60 






Textile-mill products. __ ... 


17 

9 
6 


835 

240 
274 


72 


Apparel and products made from 


16 




18 






Lumber and timber basic products. . 
Furniture and finished lumber prod- 
ucts.. ... . ... _ _ ... ... 


22 

7 
7 

58 

21 

7 

16 
19 

5 
6 

10 

6 

2 
26 
41 


1,347 

63 
72 
1,078 
650 
188 
420 
848 

28 
119 

198 

75 

10 

236 

1,125 


- 88 
22 




12 


Printing and publishing industries—. 
Chemicals and allied products. 


289 

48 

9 


Stone, clay, and glass products 


40 
73 


Nonferrous metals and their prod- 


6 


Electrical machinery and equipment- 
Machinery, except transportation 


7 
31 


Automobiles and equipment, except 
electrical. . -. . 


14 


Transportation equipment, except 


5 




55 




110 






Public utilities. . 


1,478 


69, 514 


11, 073 


109 


2,485 


187 








1,363 
46 
69 


65, 410 
1,963 
2,140 


10, 198 
504 

371 


98 
6 
5 


1,647 
64 
773 

63, 586 


142 


Communication .. ... . 


37 


Other public utilities ... 


8 








Trade 


26, 165 


2, 599, 786 


188,524 | 1,586 


3,848 






Wholesale*.. 


6,551 


965, 023 


55, 352 


393 


18, 680 


1,076 






Retail* 


18, 175 


1,471,056 


122, 623 


1,096 


41, 473 


2,587 






Department, general merchan- 


1,490 

2,547 

609 

1,259 

I. 74C, 
1,000 
1,584 

1,595 
808 
505 


133, 354 
276, 970 
39, 244 

67, 879 
129, 558 
66, 591 
91, 121 

242, 933 
54, 818 
36, 081 
110, 622 
160, 659 
61, 226 


10, 154 
16, 463 

4,276 
7,099 

11, 671 
7.898 
9,964 

11, 724 
4,397 
3,280 
9,434 

20, 830 
5,434 


82 


io^s 


690 




126 4. 773 


183 




21 
33 

118 
46 

112 

95 
80 
34 
57 
205 
87 


288 
632 

2,849 
759 

2,360 

8,228 
1,293 
1, 076 
2,611 
4,192 
1,575 


18 


Drug stores ... 


47 




201 


Furniture and house furnishings. 

Eating and drinking places 

Dealers in automobiles, acces- 
sories, tires, and batteries.. . . . 
Filling stations - 


74 
186 

347 
119 
55 




1, 251 
2,946 


115 


Other retail trade . ... 


359 


Retail trade not allocable 


835 


112 


Wholesale and retail trade combined. 
Trade not allocable 


605 

834 


97, 336 

66, 371 


5,093 
5, 45tj 


16 

81 


947 
2,486 


23 
162 

















For footnotes, see p. 141. 
299429 — 41 10 



140 



STATISTICS OF INCOME 



Table 8. — Individual returns with net income of $5,000 and over with business (sole 
proprietorship), 1938: for returns with receipts and deductions in Schedule D, 
by industrial groups and by businesses with net profit or loss, number of businesses, 
total receipts and net profit or loss; for all businesses with and without receipts 
and deductions in Schedule D, number of returns and net profit or loss; also grand 
totals for certain items for prior years — Continued 

[Money figures in thousands of dollars] 





Businesses with receipts and deductions in Schedule D 


Industrial groups ' 




Net profit 






Net loss 






Number 2 


Total re- 
ceipts 


Net 
profit 3 


Number 2 


Total re- 
ceipts 


Net 

lOSS 3 




49, 141 


903, 270 


403, 121 


2,243 


12, 623 


3,810 






3, 326 


120, 954 


23, 735 


330 


4,904 


876 






Hotels and other lodging places, . 
Laundries, cleaning and dyeing. . 
Photographic studios.- _ 


869 

569 

201 

1,633 

54 


30, 738 
29, 291 

6,890 
51, 079 

2,957 


4,951 

4,236 

1,525 

12, 553 

470 


197 
25 
19 
67 
22 


3,712 
328 

28 
662 
174 


553 
71 
22 




190 


Personal service not allocable 


41 




1,356 


47, 037 


10, 754 


97 


434 


124 








477 

86 
20 
125 
195 
453 


22, 163 

2,626 
306 
5,001 
6,964 
9,976 


4,197 

538 

146 

902 

1,462 

3,508 


30 

2 

3 

7 

20 

35 


61 

4 

14 

138 

155 

62 


22 


Adjustment and credit bureaus 


2 


Private employment agencies 

Duplicating and mailing service. 


8 

5 

43 


Business service not allocable 


44 




448 


24, 584 


2,475 


43 


785 


66 








1,651 


82,697 


15, 723 


232 


2,895 


694 






Motion-picture production 


56 
542 

9S0 
73 


2,447 
24, 897 
52, 781 

2,572 


812 
4,542 
9,653 

716 


2 
49 
159 
22 


2 

1, 228 

1, 452 

213 


2 
119 




479 


Amusement not allocable 


94 


Professional and social service 


41, 930 


616, 827 


347, 325 


1,507 


3,447 


1,971 


Accountants/auditors, and book- 


1, 358 
26, 084 
11. 189 

1,789 

310 
922 

278 


18, 370 
367, 699 
156, 207 

44,011 

7, 653 
17, 566 
5,321 


9,494 

208, 738 
98, 758 
16, 562 

2,018 

9,504 

2,251 


26 
490 
538 

218 

31 

175 
29 


112 

1,640 

602 

736 

110 

200 

46 


31 


Medical and health service 

Legal .. _. . 


568 
612 


Engineering ... ._ 


488 


Educational institutions and 


32 


Other professional and social 
service. .. 


210 


Professional and social service 
not allocable 


30 






Other service 


168 

262 


6,044 
5, 127 


1,057 
2,052 


8 
26 


66 

92 


15 


Service not allocable. .. 


64 






Finance, insurance, real estate, and les- 
sors of real property 


6,782 


215, 822 


50, 055 


693 


17,889 


2,326 






Security and commodity exchange 
brokers and dealers 


1, 067 

442 

2,904 

1,457 

17 

895 


97, 701 
17, 925 
57,911 

29, 131 

175 

12. 679 


9,781 

t, (ISC, 
20, 816 

9,916 

75 
5,381 


197 
28 
101 

280 

1 

86 


14, 632 
220 
800 

1,881 


1 040 


Other finance companies. _ 


95 


Insurance 


161 


Real estate, including lessors of 
buildings 




Lessors of real property, excepi 
buildings 


5 


Finance, insurance, real e late, and 
lessors of real property not allocable. 


357 


169 


For footnotes, see p. 141. 















STATISTICS OF INCOME 



141 



Table 8.- — Individual returns with net income of $5,000 and over with business (sole 
proprietorship) , 1938: for returns with receipts and deductions in Schedule D, 
by industrial groups and by businesses with net profit or loss, number of businessss, 
total receipts and net profit or loss; for all businesses with and without receipts 
and deductions in Schedule D, number of returns and net profit or loss; also grand 
totals for certain items for prior years — Continued 



[Money figures in thousands of dollars] 





Businesses with receipts and deductions in Schedule D 


Industrial groups ' 


Net profit 


Net loss 




Number 2 


Total re- 
ceipts 


Net 
profit 3 


Number 2 


Total re- 
ceipts 


Net 
loss 3 




3,925 


303, 912 


32, 704 


135 


4,117 


320 






General contractors _ _ 


2, 236 1 207, 353 

1,575 89,073 

114 | 7,485 


20, 271 

11,417 

1,016 


89 

41 
5 


3,284 
641 
191 


254 




55 




11 






Agriculture, forestry, and fishery 5 


7,877 201,609 


38, 881 


9,362 


42, 222 


28, 287 


Farming 

Other agriculture, forestry, and fish- 
ery 

Agriculture, forestry, and fishery not 
allocable 


7,387 

469 

21 


180, 261 

20, 370 

978 


35, 254 

3,495 

133 


9,039 
306 

17 


39, 452 

2,581 

190 


26, 124 

2,128 

36 


Nature of business not allocable, except 
trade 


3,565 


234, 322 


27, 119 


415 


6,914 


1,590 


Total, businesses with receipts and de- 
ductions in business schedule: 
1938 .. 


105, 664 
123, 184 
115, 114 
75, 511 
64, 603 
43, 127 


5, 121, 874 

6, 547, 599 
6, 107, 169 
3, 813, 750 
3, 222, 239 
2, 414, 325 


818, 910 
1, 005, 221 
916,930 
583, 203 
499, 700 
347, 615 


15, 159 
15, 414 
12, S79 
8,726 
7,944 
6,374 


166, 506 
189, 126 
156, 087 
95, 745 
99, 985 
111,489 


43, V9 


1937 


49, 266 


1936 

1935 

1934 


38, 784 
22, 098 
20, 927 


1933 


22, 248 







ALL BUSINESSES, WITH AND WITHOUT RECEIPTS AND DEDUCTIONS IN BUSINESS 

SCHEDULE 



1938 


111,830 
135, 808 
132, 519 
89, 714 
73, 889 
49, 740 
45,547 
97, 779 
154, 640 
228, 475 




852, 832 

1, 062, 875 

1, 021, 608 

687, 467 

568, 689 

393, 815 

354, 488 

766, 730 

1, 215. 452 

1, 836, 329 


16, 826 
18, 520 
15, 760 
11,323 
9,969 
7,970 




47, 858 


1937 




54, 681 


1936 




45, 125 


1935 






33,713 


1934 






29, 753 


1933 






26, 791 


1932 








1931 










1930 








1929 





















1 For comparison of these 1938 industrial groups with those for 1937 published on pp. 28-29 and 138-143 in 
"'Statistics of Income for 1937, Part 1," see pp. 205-211. 

J If two or more businesses in different industrial groups are reported on one return, each business is 
counted separately. Consequently, the number of businesses exceeds the number of returns showing 
business profit or loss. 

3 The compensation of the proprietor is not allowed as a deduction in computing business profit or loss. 
(See instruction 9, Form 1040, facsimile on p. 295.) 

4 Consists of wholesale or retail trade reported separately in Schedule D, Form 1040. Excludes combined 
■"Wholesale and retail" when reported as such. 

5 Data are tabulated from Form 1040F (schedule of farm income and expenses), if submitted with the 
individual income tax return. 



142 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by States 
and Territories: number of returns, net income, and total tax 

[For text defining certain items and describing methods of tabulating and estimating data, see pp.1-6 and 14-15] 





Alabama 


Arizona 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est ) 3 


2,111 

212 

6,780 

7,168 

3,063 

907 

5,249 

1,415 

2,714 

3, 559 

115 

2.013 

4 

1,091 

645 

450 

310 

189 

161 

123 

118 

83 

73 

214 

97 

52 

47 

22 

6 

7 

4 

5 

1 

1 


$1, 494, 388 

107, 649 

9, 045, 050 

10,074,117 
6, 984, 631 
2,012,451 

14, 252, 183 
4, 008, 517 
8, 927, 990 

12,314,023 
474,810 
8, 965, 184 
21, 250 
5, 944, 890 
4, 158, 341 
3, 367, 089 
2, 628, 344 

1, 799, 253 
1, 689, 306 
1,412,177 
1,470,511 
1, 123, 559 
1, 060, 745 
3,686,174 

2, 172, 766 
1,404,313 
1,612,500 

992, 520 
332,413 
458,635 
306, 871 
428, 809 
91, 088 
118, 104 




1,252 

14 

3,389 

3,912 

1,760 

792 

2,594 

837 

1,176 

2,020 

73 

1,181 

5 

505 

275 

159 

105 

91 

56 

38 

39 

29 

16 

50 

23 

18 

19 

14 

4 


$807, 158 

7 492 

4,88l!«50 

5, 986, 620 

4, 004, 879 

1, 761, 756 
7, 027, 971 

2, 338, 843 
3,891,481 
7,010,076 

311,860 
5, 264, 245 
25, 624 
2, 752, 215 
1, 762, 275 
1, 185. 846 

893, 436 

860, 147 
585, 288 
434, 454 
491,075 
388, 754 
232, 256 

861, 243 
507, 084 
495, 548 
661,044 
635, 263 
222, 100 




Under 1 (est.) 


$3, 397 


$247 


1 under 2 (est.) 3 .._ 




78, 934 


54,558 


2 under 2.5 (est.) 3 

2 under 2.5 (est.) 

2.5 under 3 (est.) 3 

2.5 under 3 (est.) 

3 under 4 (est.) 3 .. 




33, 127 


25, 922 


27,317 


23,827 


89, 723 


75, 493 


4 under 5 (est.) 3 




109, 941 


81, 571 








100, 029 
85, 394 
88, 996 
82, 445 
70, 089 
73, 815 
67, 680 
75, 907 
61,063 
63, 836 
259, 123 
192,041 
147, 727 
214, 086 
163, 115 
63. 930 
101,724 
83, 676 
121, 533 
26, 646 
43, 043 


55, 447 




45, 673 




41,751 


8 under 9 


39, 157 


9 under 10 

10 under 11 


42, 448 
30, 290 


11 under 12 


24, 176 


12 under 13 


29, 142 




25, 127 




15, 397 


15 under 20 


63, 044 


20 under 25 


47, 655 


25 under 30 


60, 125 


30 under 40. _ 

40 under 50. . __ 


88. 554 
108, 145 


50 under 60 


43,160 


60 under 70 




70 under 80.. - 


1 


71,604 


19,112 


80 under 90 






























1 


201, 521 


100, 081 


























































750 under 1,000 




























1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 












4,000 under 5,000 




































Total, individual re- 
turns with net 
income 


39, 010 

624 


115,142,172 
6 2. 213, 530 


2,628,418 


20, 447 
559 


56, 359, 487 
e 1.961,380 


1, 040, 021 


Individual returns with no 










Grand total 


39. 634 


U 12. 928, 642 


2,628,418 


21, 006 


1 54. 398, 107 


1, 040, 021 






Taxable fiduciary returns 
with net income 4 


251 


1,021,186 


86, 693 


85 


204, 387 


8,155 






Total, individual returns 
with tic! income ami 
taxable fiduciary returns 
with net income . 


39, 261 


116,163,358 


2,715,111 


20,532 


56, 563, 874 


1, 048, 176 






Summary of returns with 
net income for pi :<>r years: 5 
1937 


39, 959 
31,712 
26, HI 
23 072 


130. 127,271 
106,647,588 
.so. 143,944 
69,229, P.''.' 


4,155,993 
3,434,8 16 
1,701,528 
1, 407, 104 


20, 809 
16, 842 

13.041 
11,378 


62, 432, 053 
51,444, 192 
38,298,031 
29,802,959 


1, 542. 167 


\'.m 


1,429.247 


1935... 


647,859 


1934 


391, 723 







For footnotes, see p. 167 



STATISTICS OF INCOME 



143 



Table 9. — Individual returns with net income, 1988, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax- — Continued 



Net income classes 


Arkansas 


California 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


1,050 

103 

3,176 

2,462 

1,980 

453 

2,963 

828 

1,393 

1,901 

67 

990 

2 

653 

396 

268 

204 

139 

101 

74 

59 

49 

47 

105 

62 

38 

32 

14 

6 

6 

1 

1 

3 

1 


$675, 604 

53, 090 

4, 579, 521 

3, 575, 098 

4, 504, 754 
1, 006, 600 
8, 059, 783 
2, 338, 144 
4, 559, 883 
6, 596, 471 

287, 919 

4,406,910 

11,018 

3, 570, 708 

2, 562, 027 

2, 000, 593 

1, 738, 539 

1, 320, 006 

1, 058, 538 

837, 158 

735, 376 

661,480 

682, 536 

1, 817, 686 

1, 372, 018 

1, 032, 574 

1, 093, 582 

619, 673 

323, 447 

385, 740 

70, 141 

86, 315 

286, 910 

108, 966 




28, 641 
656 
91, 122 
120, 612 
36, 023 
20, 760 

49, 777 

22, 229 

23, 250 

50, 538 
1,095 

28, 390 

34 

17, 023 

9,818 

5,537 

3,317 

2,399 

1, 732 

1.433 

1.176 

928 

757 

2,426 

1,276 

765 

802 

417 

222 

149 

99 

76 

53 

102 

25 

10 

6 

9 

5 

2 


$18, 771, 586 
377, 165 

127.150,238 

176, 517, 280 
81, 906, 774 
45, 909, 979 

135, 298, 370 
62, 357, 042 
76, 399, 788 

175, 546, 595 

4, 649, 781 
126, 516, 345 

183. 462 
92, 913, 559 
63, 307, 014 
41, 261, 002 
28,113,416 
22, 767, 029 
18, 143, 148 
16, 445, 965 
14, 684, 469 
12, 540, 370 
10, 959. 643 
41, 729, 590 
28, 415, 490 
20, 897, 51 1 
27, 633, 022 
18, 516, 750 
12, 058, 840 
9, 682, 484 
7, 374, 660 
6, 440, 610 

5, 020, 040 
11,915,222 

4, 212, 508 
2, 161, 038 
1, 590, 630 
3, 026, 014 
2, 168, 240 
1,086,450 






$1,810 


$9, 907 


1 under 2 (est.) 3 




29, 112 


1, 465, 842 


2 under 2.5 (est.) 3 

2 under 2.5 (est.)... 

2.5 under 3 (est.) 3 _ 

2.5 under 3 (est.) 

3 under 4 (est.) 3 

3 uniifir 4 (est,) 




15, 775 


732, 741 


18, 980 


589, 038 


47,203 


1, 785, 588 


4 under 5 (est.) 3 




54,742 


1,999,018 






5 under 6 .. . 


60, 496 
55, 200 
52, 906 
57, 080 
50, 110 
47,340 
39, 849 
37, 985 
37, 083 
40. 897 
128, 355 
109. 173 
111,993 
145, 064 
98, 868 
61,287 
82, 673 
15, 866 
24, 599 
85, 684 
37, 266 


1, 920, 840 


6 under 7 


1, 639, 671 


7 under 8 


1, 386, 344 


8 under 9 .__ ... ... 


1, 150, 704 


9under 10 


1,068,772 


10 under 11 


935, 348 


11 under 12 


918,988 


12 under 13 


877, 238 


13 under 14 


793, 196 


14 under 15 


726, 664 


15 under 20. 


3, 176, 032 


20 under 25_. 


2, 698. 854 


25 under 30 


2, 403, 382 


30 under 40 


3,841,821 


40 under 50 


3,150,400 


50 under 60 . 


2, 355, 826 


60 under 70 . 


2, 173, 638 


70 under 80 


1, 880, 942 


80 under 90 


1,798,409 


90 under 100 


1, 548. 829 


100 under 150 _ ... 


4,321,519 


150 under 200 


1.752,956 


200 under 250 








1, 026, 676 


250 under 300 








672, 453 


300 under 400 








1,293,768 


400 under 500 








1, 094, 243 


500 under 750 . 








326, 856 












1,000 under 1,500 








2 


2, 406, 526 


793, 921 












2,000 under 3,000 








2 


5, 020, 654 


1,561,011 


































1 


5, 897, 657 


1, 778, 703 












Total, individual re- 
turns with net 
income 


19, 627 
506 


63, 018, 868 
6 1, 308, 050 


1, 557, 402 


523, 696 
11, 593 


1, 569, 973, 956 
6 40, 449, 183 


57, 650, 138 


Individual returns with no 


8 12, 112 








Grand total. 


20, 133 


'61,710,818 


1, 557, 402 


535, 289 


1 1, 529, 524, 773 


57, 662, 250 


Taxable fiduciary returns 
with net income * 


93 


358, 476 


19, 532 


2,897 


15, 745, 844 


2, 477, 052 


Total, individual returns 
with net income and 
taxable fiduciary returns 
with net income. . 


19, 720 


63, 377, 344 


1, 576, 934 


526, 593 


1, 585, 719, 800 


60. 127, 190 


Summary of returns with 

net income for prior years: 6 

1937 


18, 502 
16, 587 
14, 085 
13, 318 


64, 054, 308 
61, 156, 625 
43,351, 163 
38, 885, 585 


1, 934, 035 

2, 073, 666 

796, 832 

677, 515 


510, 224 
436, 128 
367, 757 
315, 766 


1, 677, 450, 067 

1,494,599,201 

1, 172, 303, 199 

968,067,116 


74, 835, 666 


1936 


76, 428, 350 


1935. . .. 


42, 033. 332 


1934 


33, 380, 393 



For footnotes, see p. 167. 



144 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938. by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total lax — Continued 



Net income classes 
(Thousands of dollars) 


Colorado 


Connecticut 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Individual returns > with 
net income: 
Under 1 (est.) 3 


2,760 
219 
8, 426 
6,981 
3,701 
1,137 
4,871 
1,492 
2, 234 
3,491 
113 
1,935 


$1, 756, 475 
109, 344 

11,734,482 

10, 037, 969 
8, 451, 967 
2,511,984 

13, 199, 786 
4, 206, 361 
7, 334, 124 

12, 086, 376 

478, 320 

8, 627, 024 




6,675 

772 

32, 137 

28, 776 

7,169 

4,748 

12, 532 

3,843 

6,101 

8,633 

347 

5,947 

17 

3,116 

2,228 

1,473 

1,060 

846 

605 

496 

398 

326 

283 

863 

471 

279 

275 

167 

88 

52 

35 

28 

14 

40 

15 

11 

4 

5 


$4, 700, 580 
374. 928 
41, 686, 248 
41, 516, 097 
16, 215, 687 
10, 537, 427 
33, 945, 695 
10, 719, 105 
20,131,738 
30, 095, 912 
1,485,646 
26,591,026 
90, 907 
16, 979, 587 
14, 403, 574 
10, 977, 653 
8, 985, 634 
8,016,518 
6, 344, 032 
5, 693, 672 
4,962,125 
4, 398, 521 
4,103,565 
14,877,330 
10. 523, 033 
7, 626, 557 
9, 504, 626 
7, 429, 489 
4, 842, 092 
3, 362, 272 
2, 630, 252 
2, 392, 903 
1, 329, 908 
4,904.660 
2,545,941 
2, 477, 337 
1,096,726 
1,757,986 




Under 1 (est.)_._ 


$3, 321 


$12, 691 


1 under 2 (est.) 3 




1 under 2 (est.) 


80, 149 


351, 171 


2 under 2.5 (est.) 3 




2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


42, 416 


185, 826 


2.5 under 3 (est.) 

3 under 4 (est.) 3 


54, 337 


134,317 


3 under 4 (est.) 


99, 509 


299, 982 


4 under 5 (est.) 3 

4 under 5 (est.) 




114,119 


355, 324 






5 under 6 


1,267 

807 

538 

318 

233 

184 

157 

126 

109 

76 

213 

100 

61 

58 

32 

15 

10 

10 

5 

1 

9 

4 

1 

2 

1 

2 


6,913,443 

5,218.440 

4, 015, 589 

2, 693, 376 

2,205,819 

1,928,158 

1,802,599 

1,571,010 

1, 468, 945 

1,099,933 

3, 663, 875 

2, 235, 838 

1, 679, 256 

1,954,922 

1, 421, 779 

821,667 

649, 041 

755. 273 

427, 651 

99 068 

1, 150, 795 

660, 438 

215,054 

549, 233 

395, 657 

916,212 


123, 540 

114,321 

107, 764 

89, 558 

85, 357 

85, 744 

87, 985 

82, 090 

83, 948 

66, 489 

255, 567 

201,202 

185, 079 

257, 474 

232. 250 

159,661 

145, 321 

193, 922 

126, 400 

30 043 

397, 982 

245,013 

106. 246 

285,415 

264, 821 

546, 051 


317, 265 


6 under 7 


323,212 


7 under 8 


306, 834 


8 under 9 


304, 896 


9 under 10 


316,770 


lOunder 11... 


284, 559 


11 under 12 


282, 529 


12under 13 


267.061 


13 under 14 


252. 543 


14 under 15 

15under20 


246, 821 
1,053,418 


20 under 25 


947,215 


25 under 30. .. 


843, 067 


30 under 40 


1, 282, 430 


50 under 60 . 


1,241,203 
974,182 


60 under 70. . 


774, 566 


70 under 80, _. 


675, 586 


80un''°r90. ._ 


731, 443 


90undfr 100. .. 


410. 844 


100 under 150 


1,871,632 


150 under 200. . 


1,078,057 


200 under 250 


1,156,191 


250 under 300... 


451.324 


300 under 400 


776, 945 


400 under 500. . 




500 under 750. 


5 


3,151,559 


1, 612, 240 


750 under 1.000 


2 


1,515,510 


463, 454 




1,000 under 1,500 








1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000. 














5,000 and over. 




























Total, individual re- 
turns with net in- 
come ... 


41,701 
999 


128, 562, 793 
« 2, 495, 890 


5,416,548 


130, 880 
2,021 


403, 408, 548 
6 6, 945, 395 


20, 122, 144 


Individual returns with no 
net income 


8 3, 555 








Grand total 


42, 700 


' 126, 066, 903 


5, 416, 548 


i ■:,■:, 901 


» 396, 463, 153 


20, 125, 699 






Taxable fiduciary returns 
with net income 4 


431 


2, 079, 209 


366, 760 


1,515 


6, 220, 478 


781,486 


Total, individual returns 
with net income and t:>\ 
able fiduciary returns 
with net income 


42, 132 


130, 642, 002 


5,783,308 


132,395 


409, 629, 026 


20, 903, 630 




•Summary of returns with 
net income for prior years: 5 
1937... 


45,371 
40, 33? 
33,475 
31, 232 


156,162,264 
146,498,541 
108,379,317 
94, 502, 319 


9, 010, 069 
8, 934, 634 
4, 057, 259 
3,281,526 


145, 363 
121,805 
100, 898 
91,352 


484, 984, 394 
439, 105, 953 
340, 303, 213 
288,693,183 


34, 890, 703 


1936 

1935 


35, 982, 854 
17 227 337 


1934 


12, 325, 678 





For footnotes, see p. 167. 



STATISTICS OF INCOME 



145 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 


Delaware 


District of Columbia 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


897 

209 

2,655 

3,589 

1,076 

533 

1,468 

772 

803 

1,490 

45 

781 

1 

492 

306 

207 

153 

141 

108 

82 

82 

72 

52 

160 

83 

47 

60 

42 

22 

27 

11 

9 

3 

31 

17 

7 

3 

9 

3 

4 

2 

3 


$623, 501 

94, 195 

3, 748, 888 

5,171,171 

2, 439, 865 

1, 184, 555 

3, 990, 001 

2, 169, 164 

2, 642, 143 

5, 159, 906 

189, 282 

3, 485, 831 

5,010 

2, 692, 904 

1, 983, 343 

1, 549, 233 

1, 293, 970 

1,337,188 

1,133,963 

944, 877 

1, 026, 147 

966, 494 

753, 599 

2, 723, 728 

1, 854, 995 

1, 294, 209 

2, 077, 857 

1, 892, 846 

1, 229, 040 

1, 732, 070 

826, 358 

776, 163 

288, 193 

3,812,024 

2, 877, 334 

1. 470. 435 
814, 153 

3, 022, 541 
1,417,223 

2. 639. 436 
1,833,942 
3, 870, 066 




2,843 

525 

17, 133 

35, 468 

5,753 

5,826 

8,210 

6,108 

4,750 

12,171 

303 

5,510 

12 

3,036 

1,612 

872 

620 

472 

341 

283 

190 

145 

148 

439 

229 

128 

120 

57 

39 

21 

13 

10 

13 

12 

10 

1 


$2, 070, 272 

272, 940 

24,476,117 

53, 264, 322 

13,051,371 

12, 934, 656 

22, 253, 427 

17, 103, 048 

15, 692, 334 

42, 038, 381 

1, 282, 600 

24, 455, 668 

63, 402 

16, 555, 070 

10, 384, 423 

6, 498, 498 

5, 258, 556 

4, 479, 752 

3, 565, 685 

3, 250, 235 

2,371,741 

1,956,047 

2, 140, 855 

7,528,513 

5, 093, 259 

3,491,294 

4,151,622 

2,551,701 

2, 094, 236 

1,352,721 

933, 555 

840, 585 

1, 223, 567 

1,436,714 

1,777,997 

221,310 




Under 1 (est.) 


$2, 886 


$7, 397 


1 under 2 (est.) 3 




1 under 2 (est.) 


44,007 


472, 115 


2 under 2.5 (est.) 3 

2 under 2.5 (est.) 

2.5 under 3 (est.) 3 




19, 878 


212, 456 


2.5 under 3 (est.) 

3 under 4 (est.) 3 


19, 329 


168,689 


3 under 4 (est.) 


45, 255 


360, 291 






4 under 5 (est.) 


48, 039 


309, 636 






5 under 6 


49, 584 
44, 726 

42. 038 
65, 883 
52, 095 
48,815 
46, 801 
53, 630 
54, 623 

47. 039 
213, 773 
170, 319 
143, 782 
282, 488 
315,765 
241, 420 
381, 607 
208, 322 
234, 145 

91, 499 
1, 432, 975 
1, 208, 930 

684, 430 

421,369 
1, 423, 338 

799, 881 
1, 487, 905 

891, 876 
2, 029, 013 


292, 809 


6 under 7 _. 


225, 904 


7 under 8 


176, 905 


8 under 9 


177, 084 


9 under 10 


176, 285 


10 under 11 .._ . 


157, 985 


11 under 12 

12 under 13 


155,255 
121,963 


13 under 14 


109, 628 


14 under 15 


127,554 


15 under 20 _. 


529, 341 


20 under 25 


454, 021 


25 under 30 


377, 840 


30 under 40 


563, 582 


40 under 50 


425, 849 


50 under 60 


398, 636 


60 under 70 


319,414 


70 under 80 


236, 451 


80 under 90 


245,377 


90 under 100 


373, 326 


100 under 150 


512,309 


150 under 200 

200 under 250... 


773, 451 
109, 189 


250 under 300 




300 under 400 








400 under 500. 


1 


430, 836 


252, 969 






750 under 1,000.. 


1 


921, 951 


610, 157 


1,000 under 1,500 
















































































Total, individual re- 
turns with net in- 
come 


16, 557 
185 


81, 037, 843 
6 2, 155, 191 


13, 347, 465 


113, 425 

576 


319, 469, 261 
M,829,419 


9, 433, 868 


Individual returns with no 










Grand total 


16, 742 


'78,882,652 


13, 347, 465 


114,001 


1 317, 639, 842 


9, 433, 868 


Taxable fiduciary returns 
with net income 4 _ 


504 


4, 356, 947 


991, 195 


444 


1, 658, 388 


262, 190 


Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 


17, 061 


85, 394, 790 


14, 338, 660 


113,869 


321, 127, 649 


9, 696, 058 


Summary of returns with 
net income for prior vears: 5 
1937 


16, 836 
13, 739 
11,371 
10, 620 


104, 341, 692 
96, 694, 780 
64, 759, 925 
55, 073, 452 


25, 218, 817 
25, 538, 755 
11,401,715 
9, 312, 466 


110,658 
106, 863 
95, 271 
82, 871 


329,915,913 
327, 467, 666 
268, 667, 106 
234, 925, 250 


11, 629, 939 


1936 


13, 290, 899 


1935 


7, 175, 849 


1934 


5, 653, 864 







For footnotes, see p. 167. 



146 



STATISTICS OF INCOME 



Table 9.— Individual returns with net income, 19S8, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 



Florida 



Number 
of returns 



Net income 



Total tax 



Georgia 



Number 
of returns 



Net income 



Individual returns ' with 
net income: 

Under 1 (est.) 3 

Under 1 (est.) 

1 under 2 (est.) 3 

1 under 2 (est.) 

2 under 2.5 (est.) 3 

2 under 2.5 (est.) 

2.5 under 3 (est.) 3 

2.5 under 3 (est.) 

3 under 4 (est.) 3 

3 under 4 (est.) 

4 under 5 (est.) 3 

4 under 5 (est.) 

5 under 6 3 ... 

5 under 6 

6under 7 

7under8 

8under9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150- - 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 

4,000 under 5,000 

5,000 and over 



Total individual re- 
turns with net in- 
come 

Individual returns with no 
net income 



Grand total. 



Taxable fiduciary returns 
with net income * 



Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 

Summary of returns with 
ncl income for prior years 5 

L937 

1936 

1935.. 

1934. _ 



4, 052 

457 

9, 164 

7,425 

4,409 

1,365 

6,374 

2,151 

3,764 

5, 656 

252 

3,049 

4 

1,896 

1,276 

903 

638 

4S2 

364 

280 

229 

207 

170 

518 

250 

157 

170 

87 

48 

32 

25 

9 

8 

36 

15 



$2, 593, 502 
239, 871 
13,037,089 
10, 742, 926 
10, 002, 281 

3, 057, 431 
17, 335, 092 

6, 072, 725 

12, 421, 080 
19, 591, 377 

1,090,236 

13, 630, 701 

20, 675 
10, 372, 075 
8, 245, 567 
6.743,155 
5, 413, 600 

4, 574, 275 
3,814,422 
3, 225, 976 
2, 857, 798 
2, 793, 702 
2,466,125 
8, 843, 688 

5, 549, 262 
4, 275, 559 
5, 822, 028 
3, 847, 255 
2, 646, 677 
2, 040, 702 
1,880,065 

757, 751 

757, 766 

4,341,336 

2, 655. 208 

1,835,114 



$6, 477 



91.996 



52, 611 



51, 481 



160,025 



178, 392 



1, 024, 422 

419, 663 

2, 528, 517 



1,392.309 



4, 273, 201 



55, 940 

1,864 

57. 804 

<*61 



215, 232, 204 
« 6, 842, 573 



' 208, 389, 631 



3, 706, 138 



218, 938, 342 



52.417 
44, 048 
38,021 
32, 550 



231,630,523 
197,705,207 

114,693, 108 
112,102,614 



187, 185 
182,916 
187, 460 
179,470 
177,223 
170, 840 
159,313 
152,603 
160,293 
150. 113 
620. 168 
498, 646 
465,029 
781,645 
630,114 
516. 652 
456, 358 
477, 918 
207, 607 
264, 694 
1,554.513 
1,105.918 
901, 636 



573, 839 

245, 239 

1,555,139 



459, *54 



1, 606, 967 



15, 169, 934 



15.169,934 



834, 954 



16,004,888 



21,286,514 

18,608,221 

8, 933, 457 

5, 597, 287 



2, 607 

260 

10,110 

7,425 

4,366 

2,177 

8,558 

1,592 

4,323 

5,706 

179 

4,363 

4 

1,747 

1,067 

742 

547 

388 

317 

200 

188 

141 

110 

382 

174 

101 

107 

33 

26 

17 

13 

3 

3 

17 

4 

3 



$1,821,804 
142, 068 

13, 953, 231 

11, 654, 606 
9,971,867 
4,815,270 

23, 267, 928 

4, 410, 140 
14, 234, 178 
20,151,435 

756, 125 

19, 389, 558 

21,524 

9,532,111 

6, 894, 271 

5, 529, 991 
4, 644, 367 
3, 668, 673 
3, 327, 299 
2, 298, 445 
2,341,435 

1, 899, 219 
1,595,090 

6, 607, 974 
3. 859, 955 

2, 772, 494 
3, 689, 056 
1, 480, 652 
1,412,975 
1,078,572 

987, 680 
217,099 
284, 479 
2,142,136 
715.340 
657, 579 



$4, 516 


123, 


281 


80,608 


62, 332 


184, 796 


231, 


307 



635, 216 
402, 191 



58, 003 193, 294, 033 
« 2, 989, 640 



58, 989 



58, 309 



56, 768 
49,512 
46, 702 
38, 137 



» 190, 304, 393 



1,249,351 



194,543.384 



205, 053, 443 
181,626,423 
150,963.172 
122,612,284 



For footnotes, see p. 167. 



STATISTICS OF INCOME 



147 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Hawaii 


Idaho 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 


935 

108 

3,588 

3,770 

1,146 

801 

1,809 

626 

1,021 

1,629 

108 

1,117 

12 

629 

416 

244 

173 

115 

73 

76 

63 

34 

37 

136 

75 

40 

36 

30 

7 

15 

5 

5 

4 

9 


$570, 420 

60, 454 

4, 822, 649 

5, 515, 009 

2, 603, 707 
1, 771, 387 

4, 912, 682 

1. 740, 338 

3, 412, 389 

5, 714, 557 
466, 364 

5, 007, 684 

64, 305 

3, 440, 387 

2, 690, 580 
1,819,970 
1, 466, 973 
1, 085. 982 

765, 749 

872, 065 

785, 340 

461,061 

537, 201 

2, 324, 705 

1, 665, 553 

1,064,552 

1, 225, 791 

1, 329, 437 

381,319 

963. 904 

365. 727 

416,925 

373, 533 

1, 025, 037 




430 

5 

2,397 

3,226 

570 

491 

1,669 

622 

711 

1,409 

40 

807 

3 

404 

177 

81 

41 

32 

17 


$240, 597 
3,255 

3, 276, 897 

4, 720, 053 
1, 279, 029 
1, 087, 235 
4, 519, 269 

1, 742, 084 

2, 335, 300 
4,912,693 

172,992 

3, 569, 046 

16, 833 
2, 207, 039 
1,142,922 
601, 377 
344,412 
301,717 
176. 191 




Under 1 (est.) 


$2, 081 


$84 








48, 399 


37, 948 


2 under 2.5 (est.) 3 




2 under 2.5 (est.) 

2.5 under 3 (est.) 3 - 


29,677 


15, 883 


2.5 under 3 (est.) 

3 under 4 (est.) 3 _. 


22, 917 


17, 155 




55. 732 


50,143 








62, 064 


52, 952 








56, 388 

54, 967 

47, 823 

47, 322 

43, 083 

34, 093 

43, 091 

42, 155 

25, 703 

31, 229 

162, 027 

147, 178 

113,978 

163, 701 

215,021 

72, 579 

214, 335 

88, 045 

116,110 

115,692 

367, 498 


41,995 


6 under 7- --- 


29, 667 


7 under 8 ..- - 


20,532 


8 under 9 


15,204 


9 under 10 ... ... 


14, 117 


10 under 11 


9,581 


11 under 12 


15 170,882 
15 188,193 
13 172,932 
9 128,455 
17" 291.078 


9,870 


12under 13 


11, 853 


13 under 14 


11,472 


14 under 15 


8,618 


15 under 20 


22, 674 


20 under 25 


9 
11 
2 


197, 254 

317, 678 

64,904 


18,868 


25 under 30 


39, 054 


30 under 40 


8,961 






50 under 60 








60 under 70 . 








70 under 80 








80 under 90 _ . . 








90 under 100. 








100 under 150. . 








150 under 200- 








200 under 250. . 














250 under 300. 


1 


254, 196 


131, 626 








300 under 400 








400 under 500 _ 














500 under 750 - 














750 under 1,000 














1,000 under 1,500 














1 ,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 














5,000 and over 
















18, 893 
222 












Total, individual re- 
turns with net in- 
come . ... _ 

Individual returns with no 


61,977.932 
e 367, 921 


2,554,514 


13, 223 
356 


34,180,317 
8 820, 791 


436, 631 








Grand total 


19,115 


' 61, 610,011 


2, 554, 514 


13, 579 


1 33, 359, 526 


436, 631 






Taxable fiduciary returns 
with net income 4 - 


155 


705. 858 


77, 358 


22 


90,999 


5,448 


Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 


19, 048 


62, 683. 790 


2,631,872 


13, 245 


34,271,316 


442, 079 


Summary of returns with 
net income for prior years 6 : 
1937 


17, 394 
15,214 
13, 262 
11,252 


■ 

64, 824. 869 
58, 737, 567 
46,901.822 
37, 515. 719 


3,709,136 15,683 
4,408,203 14,201 
2,396,253 11,005 
1, 563, 069 


43, 335, 468 
41.692,504 
29,803,013 
23, 636, 891 


693, 336 


1936 


752, 433 


1935 


351, 103 


1934 


281. 770 











For footnotes, see p. 167. 



148 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 




Illinois 




Indiana 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 . 


19, 461 
2,097 

92, 357 

93, 448 
32, 144 
22, 299 
59, 954 
17.101 
29, 076 
42, 322 

1,337 

29, 233 

44 

13, 889 

8,748 

6,069 

4,160 

3, 157 

2,496 

1,925 

1,458 

1,254 

1,117 

3,300 

1,712 

966 

1,034 

482 

236 

160 

100 

77 

50 

117 

42 

20 

8 

8 

1 

11 

7 

2 


$13, 223, 654 

1, 129, 685 

125,085,911 

141,667,821 

73, 237, 614 

49, 254, 186 

162, 862, 797 

47,571,967 

95, 443, 753 

147, 482, 835 

5, 716, 579 

130, 058, 246 

232, 472 

75, 745, 065 

56, 604, 549 

45,311,453 

35, 254, 214 

29, 903, 577 

26, 146, 884 

22, 108, 686 

18, 186, 709 

16, 916, 042 

16, 189, 576 

56, 694, 350 

38,052,117 

26, 400, 381 

35, 390, 215 

21,363,200 

12, 896, 742 

10, 250, 487 

7, 516, 413 

6, 465, 683 

4, 742, 116 

13, 875, 524 

7, 052, 278 

4. 570, 268 

2,101,850 

2, 853, 496 

469, 120 

6, 960, 499 

6, 089, 846 

2, 734, 740 




5,573 

442 

26, 430 

24, 632 

9,370 

3,225 

17,367 

4,100 

6,752 

9,228 

352 

4,367 

8 

2,555 

1,652 

1,106 

796 

570 

460 

371 

300 

236 

209 

623 

276 

160 

173 

73 

42 

20 

23 

10 

8 

20 

6 

1 


$3, 708, 421 

233, 890 

35, 337, 218 

34, 685, 103 

21,371,409 

7, 106, 441 

46, 979, 364 

11,593,854 

22, 115, 913 

31, 788, 904 

1,501,385 

19, 406, 991 

42, 272 

13, 954, 508 

10, 698, 404 

8, 235, 698 

6, 736, 569 

5,411,021 

4, 823, 561 

4. 257, 977 

3, 736, 651 

3,179,284 

3,021,443 

10, 636, 398 

6, 136, 953 

4, 360, 813 

5, 858, 201 

3,221,389 

2,312,101 

1, 292, 088 

1,724,572 

846, 043 

754, 488 

2, 227, 616 

1, 022, 954 

215,658 






$37, 798 


$7, 553 


1 under 2 (est.) 3 . 






1, 373, 462 


253, 268 


2 under 2.5 (est.) 3 .. 




2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


840, 488 


113,913 


2.5 under 3 (est.) 


582, 973 


75,086 




1, 338, 066 


230, 447 








1,658,615 


240, 321 






5 under 6 


1, 283, 455 
1, 186. 099 
1, 182, 675 
1, 145, 403 
1, 130, 623 
1, 119, 735 
1, 046, 246 

928, 268 
929, 668 
958, 286 
3, 921, 767 
3, 352, 641 
2, 856, 200 
4,758,014 
3, 494, 657 
2, 460, 194 

2, 260, 765 

1, 927, 958 
1,815,611 
1, 487, 200 
5, 048, 988 

2, 931, 840 
2,122,344 
1,027,801 
1, 454, 281 

281, 788 
3, 625, 568 
2,877,316 

821, 125 


237, 006 


6 under 7 


222,012 


7 under 8 


214, 853 


8under9. 


222, 957 


9 under 10 


203, 463 


10 under 11 _ 


202, 763 


11 under 12 


199,513 


12 under 13 


192, 094 


13 under 14. 


1 77, 798 


14 under 15 


177, 704 


15 under 20 


731, 205 


20 under 25 


542,814 


25 under 30 


466, 394 


30 under 40. 

40 under 50 


777, 129 
518, 279 


50 under 60 


441,455 


60 under 70 


288, 008 


70 under 80 


450, 710 


80 under 90 


232. 162 


90 under 100 


232, 157 


100 under 150 


767, 785 


150 under 200 


423, 897 


200 under 250 


110,402 


250 under 300.. 




300 under 400... 








400 under 500... 


1 
2 


463, 907 
1, 295, 583 


262, 877 


500 under 750 


821,419 


750 under 1,000 




1,000 under 1,500 








1,500 under 2,000 . 








2,000 under 3,000.. _ 














3,000 under 4,000. . 














4,000 under 5,000 














5,000 and over... 




























Total, individual re- 
turns with net in- 
come.. ... 


493, 482 
5,915 


1,601,813,600 
« 23, 225, 950 


65, 267, 918 


121, 539 
1,684 


342, 298, 045 
« 4, 514, 024 


10, 037, 444 


Individual returns with no 
net income... 










Grand total 


499, 397 


» 1,578,587,650 


65, 267, 918 


123, 223 


7 337, 784, 021 


10, 037, 444 






Taxable fiduciary returns 
with net income * 


5,132 


24, 946, 818 


4, 468, 615 


479 


2,132,505 


205, 064 






Total, individual returns 
witli net income and taxa- 
ble fiduciary returns with 
net income 


498,614 


1, 626, 760, 418 


69, 736, 533 


122,018 


344, 430, 550 


10, 242, 508 






Summary of returns with 
net income for prior years: 5 
1937 


505, 050 
418,303 

345, 857 
310,456 


1, 804, 785, 237 
1,599,035,105 
1,171,833,651 
1,006,927,934 


103,228,427 
102, 035, 920 
51, 134,158 
40, 398, 845 


132,218 
103, 303 
82, 436 
69, 623 


401, 914, 305 
332,021,225 
245, 979, 617 
198, 442, 985 


15, 705, 078 


1936 


15, 648, 048 


1935 


8, 487, 456 


1934 


6,881,939 







For footnotes, see p. 167. 



STATISTICS OF INCOME 



149 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary rehirns 
with net income, 1 and summary of returns with net income for -prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Iowa 


Kansas 


(Thousands of dollars) 


Number 
of returns 

7,094 

279 

17, 807 

12, 873 

7,410 

1,637 

9,284 

2,175 

3,558 

4,958 

154 

2,509 

9 

1,534 

967 

599 

421 

325 

247 

188 

121 

95 

75 

268 

129 

77 

60 

31 

8 

1 

1 

3 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


$4, 812, 770 

130, 950 

24, 747, 486 

18, 355, 903 

16, 812, 605 

3, 619, 534 

25, 075, 856 

6,131,377 

11, 694, 005 

17, 099, 320 

660,112 

11,111,902 

46, 914 

8, 363, 257 

6, 236, 840 

4, 459, 497 

3,571,046 

3, 083, 791 

2, 582, 361 

2, 155, 828 

1, 505, 710 

1,278,781 

1, 088, 812 

4, 568, 337 

2, 865, 531 

2, 092, 219 

2, 014, 298 

1, 393, 859 

428, 372 

69, 180 

75, 347 

247, 784 




5,569 

202 

11,914 

8,267 

5,276 

1,181 

5,667 

1.591 

2.250 

3,984 

124 

1,999 

4 

1,085 

744 

440 

296 

227 

176 

128 

90 

63 

58 

173 

94 

33 

50 

18 

11 

4 

4 

2 

1 

4 


$3, 507, 399 

102, 668 

16, 892, 880 

11, 940, 589 

11, 970, 261 

2, 609, 975 

15,313,808 

4. 492, 830 

7, 407, 322 

13, 820, 129 

534, 920 

8, 921, 593 

22, 481 

5, 930, 835 

4, 806, 977 

3, 274, 574 

2, 514, 302 

2, 142, 182 

1, 840, 246 

1, 467, 752 

1, 124, 722 

850, 153 

841,008 

2, 981, 849 

2, 085, 101 

905, 094 

1,714,717 

789, 549 

593, 614 

261,618 

313,711 

169, 718 

94,190 

490, 096 






$4, 049 


$3, 446 






143, 519 


99,606 


2 under 2.5 (est.) '. 




2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


59, 229 


45, 006 


2.5 under 3 (est.) 


46, 958 


38, 097 




127, 630 


107, 533 








139, 659 


110,070 








140, 137 

134, 997 

117, 366 

115,004 

119,951 

113,394 

100, 998 

77, 769 

71, 578 

64, 667 

311,808 

255, 622 

228, 168 

265, 616 

230, 635 

80, 921 

16, 745 

18.590 

69, 386 


103, 329 




104, 848 


7 under 8 


92, 893 




83, 952 




84, 994 




79, 673 


11 under 12 


70, 585 


12 under 13 


58, 738 




49, 839 




51, 634 


15 under 20 


208, 790 


20 under 25 


183, 075 


25 under 30 


97, 699 


30 under 40 


226, 324 


40 under 50 


126, 802 


50 under 60_ 


113, 224 


60 under 70___ 


57, 141 


70 under 80 


80, 512 


SOunder 90 


49, 134 


90 under 100.. 


29, 026 


100 under 150 


1 


112, 803 


40, 332 


165, 162 


150 under 200... 




200 under 250 


1 


248,087 


69, 061 








250 under 300. . 


1 


263, 251 


91,636 


300 under 400 


1 


316, 173 


89, 930 




400 under 500 








500 under 750 . 














750 under 1,000 














1,000 under 1,500 














1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 










































Total, individual re- 
turns with net in- 
come 


74,900 
1,752 


189, 056, 647 
6 3, 478, 108 


3, 253, 719 


51, 730 
1,838 


132,992,114 

6 4, 284, 687 


2, 612, 768 


Individual returns with no 










Grand total 


76, 652 


1 185, 578, 539 


3, 253, 719 53. 568 


» 128, 707, 427 


2, 612, 768 










Taxable fiduciary returns 
with net income 4 . 


614 


1,960,117 


244,020 


297 


814, 165 


44,882 






Total, individual returns 
with net income and taxa- 
ble fiduciary returns with 
net income 


75, 514 


191, 016, 764 


3, 497, 739 


52, 027 


133, 806, 279 


2. 657, 650 






Summary of returns with 
net income for prior years: 5 
1937 


72, 359 
67, 345 
57, 788 
47, 871 


196, 770, 959 
184,118,458 
148, 525, 910 
119, 454, 155 


4, 886, 074 
4, 840, 561 
2,790,513 
2, 005, 786 


53, 182 
47. 374 
39, 492 
35, 600 


154, 317, 290 
145, 617, 405 
111,404,165 
91, 867, 863 


4,051,195 


1936 


3, 944, 602 


1935 


2, 041, 689 


1934 


1, 499, 250 







For footnotes, see p. 167. 



150 



STATISTICS OF INCOME 



Table 9 — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Kentucky 


Louisiana 


(Thousands of dollars) 


Number 

of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 


2,845 

290 

12, 162 

8,309 

4,216 

1,842 

7,015 

1,553 

2,687 

4,218 

203 

3,085 

12 

1,384 

911 

563 

404 

323 

232 

176 

142 

112 

93 

280 

158 

78 

78 

29 

15 

8 

11 

7 

2 

8 

1 


$2, 034. 798 

135, 893 

16, 430, 841 

12, 569, 302 
9, 603, 741 
4, 087, 014 

18, 946, 040 
4, 309, 307 
8, 836, 337 

14, 780, 771 
881, 733 

13, 747, 371 

62, 724 

7, 569, 854 

5, 893, 169 

4, 197, 179 

3, 412, 318 

3, 060, 713 

2, 431, 025 

2,015,931 

1, 767, 457 

1, 508, 054 

1, 347, 583 

4, 780, 010 

3, 488, 064 

2, 119, 960 

2,611,364 

1, 298, 555 

806, 447 

523, 029 

816, 859 

597, 172 

196, 383 

983, 466 

170, 115 




2,739 

9 

10, 569 

9,031 

3,934 

1,699 

6,856 

2,366 

3,834 

6,446 

233 

4,474 

13 

2,359 

1,329 

702 

452 

321 

241 

219 

155 

113 

103 

304 

165 

123 

102 

66 

18 

11 

12 

5 

3 

9 

2 


$1, 900, 768 
7,215 
14, 585, 778 
12,911.612 
8, 942, 443 
3. 796, 244 
18, 698, 455 
6, 599, 580 
12, 671, 453 
22, 516, 117 

1, 004, 210 
19, 880, 628 

67, 846 
12, 857, 974 
8, 573. 442 
5, 235, 755 
3, 836, 278 
3, 035, 819 

2, 520, 918 
2, 509, 514 
1,945,213 
1, 525, 628 
1,495,593 
5, 217, 896 
3, 672, 669 
3, 332, 066 
3,461,020 
2, 946, 602 

983. 961 
703, 946 
870, 416 
441, 004 
282, 286 
1,151,670 
348, 644 






$4,645 


$150 


1 under 2 (est.) 3 






125, 002 


93,943 


2 under 2.5 (est.) 3 


2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


68, 301 


54, 360 


2.5 under 3 (est.) 


55, 139 


64, 153 




142, 500 


249, 283 








175, 461 

131, 753 

125, 542 

114,541 

112,836 

117, 371 

103, 274 

97, 340 

91, 536 

85, 574 

80, 987 

336, 738 

307, 040 

230, 750 

343, 769 

212, 525 

153,418 

118, 630 

197, 159 

164, 973 

61, 668 

352, 967 

77, 177 


313, 344 








260, 173 


6 under 7 


227, 002 


7 under 8. . 


186, 610 


8 under 9 


161,901 


9 under 10 . 


145, 656 


10 under 11 


132, 910 


11 under 12 


142, 825 


12under 13 ._. 


120, 504 


13 under 14_. 


99, 792 


14 under 15. 


103, 154 


15 under 20 . 


403, 338 


20 under 25 


357, 985 


25 under 30 


390, 128 


30 under 40 


487, 444 


40 under 50 


502, 322 


50 under 60 


192, 424 


60 under 70 


157, 040 


70 under 80... 


217, 846 


80 under 90. __ 


138, 096 


90 under 100 

100 under 150 


107, 479 
442. 034 


150 under 200. 

200 under 250 


148, 410 


250 under 300 . 














300 under 400... 








1 


383, 772 


227, 623 


400 under 500.. 










500under750 


1 


703, 725 


211,526 


1 


626, 417 


278, 760 


750 under 1 ,000 




1,000 under 1,500 














1,500 under 2,000 














2,000 under 3,000 . 














3,000 under 4,000.. 














4,000 under 5,000 . 














5,000 and over 




























Total, individual re- 
turns with net in- 


53, 453 
730 


158, 724, 364 
« 3, 305, 852 


4, 400, 142 


59, 019 
1,041 


191, 540, 852 
6 3, 107, 987 


6, 406, 689 


Individual returns with no 
net income _ _ 










Grand total 


54, 183 


1 155, 418, 512 


4, 400, 142 


60, 060 


» 188, 432, 865 


6, 406, 689 






Taxable fiduciary returns 
with net income 4 


248 


911, 192 


129,810 


108 


716, 856 


106, 235 


Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 


53, 701 


159, 635, 556 


4, 529, 952 


59. 127 


192, 257, 708 


6, 512, 924 






Summary of returns with 
net income for prior 
years: s 
1937.... 


51, 192 
45, 189 
39, 763 
35, 333 


168, 058, 619 
157, 007, 367 
125, 101, 178 
107, 389, 715 


5, 723, 251 

6, 581, 929 
3, 742, 279 
2, 726, 762 


54, 519 


191. 658. 737 


8, 172, 372 


1936 


43,728 160,054,669 
40,123 122,582,017 
36, 871 1 106, 168, 279 


8, 394, 930 


1935 


3, 065, 551 


1934 


2.296.812 







For footnotes, ?ee p. 167. 



STATISTICS OF INCOME 



151 



Table 9.— Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Maine 


Maryland 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


1,724 
165 

5,228 

5,199 

1,883 

846 

2,925 

914 

1,508 

2,218 

82 

1,177 

6 

795 

489 

307 

247 

150 

108 

108 

71 

62 

47 

183 

85 

48 

42 

19 

12 

7 

6 

2 

3 

6 


$1, 174, 764 

89, 276 

7, 049, 648 

7, 468, 031 

4, 261, 030 

1,884,711 

7, 946, 957 

2, 576, 495 

4, 991, 907 

7, 694, 270 

363, 545 

5, 257, 313 

32, 135 

4, 352, 726 

3, 158, 937 

2, 287, 069 

2, 090, 778 

1,422.425 

1,130,422 

1, 236, 332 

879, 713 

839, 290 

679, 477 

3, 173, 650 

1,913,510 

1, 318, 148 

1, 410, 806 

846,515 

652, 657 

452, 612 

439, 992 

169, 101 

280, 191 

696, 007 




5,938 

765 

22, 732 

29, 053 

8,829 

4,098 

14, 498 

5,064 

8,394 

12, 946 

580 

7, 307 

24 

4,605 

2, 639 

1,574 

1,061 

747 

570 

421 

383 

256 

224 

782 

377 

233 

234 

105 

73 

39 

20 

12 

8 

21 

10 

6 

2 

2 

4 

1 


$4, 358, 120 

405, 059 

30, 990, 407 

41, 382, 545 

20, 169, 232 

9, 039, 445 

39, 459, 629 

14, 248, 218 

27, 942, 876 

45, 159, 905 

2,451,326 

32, 519, 576 

130, 432 

25, 164, 079 

17. 030, 124 

11,768,029 

8, 996, 830 

7, 068, 500 

5, 969, 028 

4, 833, 298 

4, 777, 250 

3, 458, 848 

3, 244, 923 

13, 449, 570 

8, 403, 063 

6, 395, 226 

7, 973, 726 

4, 732, 380 

3, 995, 606 

2, 512, 375 

1, 500. 320 

1, 023. 335 

749, 784 

2, 432, 920 

1, 718, 660 

1, 381, 820 

590, 014 

651, 497 

1, 886, 662 

618, 258 






$2, 623 


$12, 776 




1 under 2 (est.) 

2 under 2.5 (est.) 3 


61, 077 


322, 339 


2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


32, 132 


147, 097 


2.5 under 3 (est.) 

3 under 4 (est.) 3 ... 


22, 844 


118,946 


3 under 4 (est.) 


65, 750 


352, 478 






74, 339 


393 267 








81, 066 
71,175 
67, 649 
69, 144 
57, 245 
49, 584 
62, 767 
46, 129 
47. 540 
39. 990 
226, 433 
173, 919 
146, 214 
186, 938 
143, 488 
126, 341 
103, 185 
116, 622 
49, 665 
92, 003 
258, 014 


433, 787 


6 under 7 .__.. 


369, 282 
327, 988 
300, 658 
279, 719 


7under8_ 


Sunder 9 




264, 710 
233, 657 
250, 384 
192, 532 
196 388 


11 under 12 


12 under 13 






15 under 20 


940, 860 
751, 189 


20 under 25 


25under30 


703, 899 
1,0(19,643 
788, 187 
775, 596 
553, 147 


30 under 40 


40 under 50 


50 under 60 


60 under 70 


70 under 80 


374, 774 


80 under 90 


284, 812 


90 under 100 


232, 982 


100 under 150 


867, 703 
757, 337 


150 under 200 


200 under 250 








634, 354 


250 under 300 








314, 653 


300 under 400 








361, 294 


400 under 500 


1 
1 


469, 450 
593, 327 


282, 192 
375, 576 


851, 418 


500 under 750 


390, 723 


750 under 1,000 




1,000 under 1,500 














1,500 under 2,000 














2,000 under 3,000 . 














3,000 under 4,000 














4,000 under 5,000 














5,000 and over 


2 


15, 905, 925 


4, 885, 365 
















Total, individual re- 
turns with net in- 
come . 


26, 676 

588 


97, 189, 142 
6 2, 202, 927 


8, 017, 009 


134, 637 
1,304 


420, 582, 895 
8 6, 032, 488 


14, 848, 57 


Individual returns with no 
net income 










Grand total 


27, 264 


' 94, 986, 215 


8, 017, 009 


135.941 


' 414, 550, 407 


14, 848, 579 






Taxable fiduciary returns 
with net income 4 


325 


722, 819 


41, 570 


1,163 


3, 305, 029 


376, 487 






Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income. 


27, 001 


97,911,961 


8, 058, 579 


135, 800 


423, 887, 924 


15,225,066 






Summary of returns with- 
net income for prior 
years: 6 
1937-.. 


28, 123 
25, 057 
21, 826 
20, 584 


95, 105, 166 
88, 859, 221 
69, 455, 451 
63, 204, 584 


5, 222, 014 
5, 181, 2S3 
2, 567, 514 
2, 207, 930 


133, 183 
105, 673 
92, 550 
84, 395 


457, 051. 802 
391, 588, 573 
316, 888, 322 
282, 624, 171 


21, 500, 438 


1936. 


21, 594, 419 


1935 


12, 013, 217 


1934 


11,040,490 







For footnotes, see p. 167. 



152 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Massachusetts 


Michigan 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under] (est.) 3 


19, 892 

2.344 

72, 320 

55, 499 

21, 670 

12, 193 

26, 974 

9,756 

13, 765 

21, 726 

795 

13, 582 

33 

6,912 

4,533 

3,098 

2,267 

1,659 

1,268 

998 

851 

682 

629 

1,764 

867 

480 

525 

276 

127 

57 

41 

28 

16 

31 

10 

3 

4 

4 


$14, 297, 916 

1,120,465 

96, 498, 790 

81, 781, 514 

49, 050, 290 

27, 039, 697 

73, 214, 389 

27, 179, 012 

45, 576, 208 

75, 322, 928 

3, 382, 483 

60, 566, 542 

176,633 

37, 734, 563 

29,321.342 

23, 159, 940 

19, 255, 705 

15, 739, 274 

13, 292, 319 

11, 467, 467 

10, 613, 307 

9, 189, 593 

9, 105, 263 

30, 237, 401 

19, 240, 879 

13, 095, 540 

17, 968, 393 

12,281,624 

6, 902, 539 

3,680,171 

3, 097, 057 

2, 390, 509 

1, 527, 720 

3, 712, 642 

1, 679, 665 

659, 524 

1, 063, 452 

1, 416, 785 




16, 679 

610 

58, 242 

49, 502 

21, 739 

11,863 

34, 538 

6,482 

17,551 

19, 242 

1,062 

14, 827 

23 

5,859 

3,641 

2,437 

1,739 

1,249 

940 

708 

657 

456 

367 

1,271 

618 

374 

399 

206 

114 

70 

47 

40 

20 

59 

15 

8 

8 

12 

1 

1 


$11, 769, 599 

362, 177 

77, 752, 487 

77, 523, 684 

49, 518, 896 

26, 156, 184 

93, 680, 548 

17, 866, 774 

58, 053, 969 

67, 583, 933 

4, 520, 901 

66, 063, 876 

121,334 

31, 992, 616 

23, 534, 536 

18, 205, 374 

14, 757, 213 

11,841,983 

9, 843, 106 

8, 134, 399 

8, 206, 350 

6, 154, 094 

5, 314, 792 

21, 757, 395 

13, 704, 846 

10,211,707 

13, 649, 102 

9, 155, 533 

6, 137, 606 

4,514,621 

3, 513, 240 

3, 377, 877 

1, 908, 263 
7, 048, 798 

2, 655, 087 
1, 827, 660 
2, 187, 380 
4, 032, 768 

411,457 
516, 620 




Under 1 (est.) 

1 under 2 (est.) 3 


$36,711 


$12, 141 




748, 981 


818, 420 


2 under 2.5 (est.) 3 




2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


475, 168 


441, 683 


2.5 under 3 (est.) 


356, 019 


266, 899 




809, 279 


669, 665 








852, 963 


804, 151 








676, 727 

652, 326 

645, 151 

649, 251 

629, 457 

583, 860 

557, 394 

562, 427 

520, 485 

543, 178 

2, 149, 122 

1, 733, 216 

1, 430, 597 

2, 415, 300 

2,058,611 

1, 339, 079 

843, 868 

870, 881 

686, 380 

502, 580 

1, 365, 008 

741, 784 

326, 504 

509, 597 

828, 663 


521, 375 




478, 982 


7 under 8 


471, 360 




484, 347 


9 under 10 


442, 388 


lOunder 11 


419, 844 


11 under 12___ 


378, 72u 


12 under 13 


422, 768 


13 under 14 


337, 998 




315, 281 


15 under 20. 


1, 488, 351 


20 under 25 


1, 201, 866 


25 under 30. . ... 


1,094,511 


30 under 40 

40 under 50 


1, 804, 940 
1, 495, 467 


50 under 60. . 


1,180,016 


60 under 70 

70 under 80_. 


1,011,704 
897, 663 


80 under 90 


1,010,181 


90 under 100 


602, 175 


100 under 150_ 


2, 590, 603 


150 under 200 


1, 137, 706 


200 under 250 

250 under 300 


833, 933 
1,014,632 


300 under 400 


2, 043, 670 


400 under 500 


118,484 


500 under 750. 


1 


672, 722 


236, 529 


509, 062 


750 under 1,000 




1,000 under 1,500 








2 


2, 634, 660 


782, 210 


1,500 under 2,000 










2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 










































Total, individual re- 
turns with net in- 
come 

Individual returns with no 
net income... 


297, 680 
4,813 


853, 712, 263 
6 15, 903, 479 


27, 337, 096 
8 95, 829 


273, 678 
3, 650 


798, 203, 445 
« 13, 387, 856 


28, 103, 196 
8 11, 102 


Grand total 


302, 493 


» 837, 808, 784 


27, 432, 925 


277, 328 


» 784, 815, 589 


28,114,298 






Taxable fiduciary returns 
with net income *. 


4,910 


15, 245, 807 


1, 409, 133 


1,747 


8, 926, 076 


1,408,453 






Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 


302,590 


868, 958. 070 


28, 746, 229 


275, 425 


807, 129, 521 


29, 511, 649 


Summary of returns with 
net income for prior years: 5 

1937 

1936 

1935 

1934 .. 


314,390 

284, 320 
257, 495 
242, 728 


1,053,822,664 

988, 903, 808 
825,327. :!■: 
737,044,841 


52,381,623 
58, *7(i, 192 
31,804,163 
24, 624, 216 


308, 486 
239,363 

I7:t. 7<".t 
139, 329 


984,735,767 

862, 577. 72(1 
568, 269, 799 
418,569,373 


51,434,533 
60, 302, 647 
28, 319, 046 
14, 866, 008 





For footnotes, see p. 167. 



STATISTICS OF INCOME 



153 



Table 9.- — Individual returns with net income, 1988, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Minnesota 


Mississippi 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


5,469 

450 

22, 413 

25, 657 

9,912 

2,497 

13, 093 

2, 934 

5,286 

6,614 

181 

3,849 

14 

2,522 

1,488 

982 

733 

539 

408 

353 

240 

192 

163 

509 

297 

136 

122 

72 

47 

17 

14 

5 

8 

13 

2 

5 


$3, 713, 980 
229, 543 
30, 815, 345 
36, 232, 951 
22, 537, 463 

5, 480, 077 
35,336,178 

8, 264, 020 

17, 459, 142 

22, 927, 263 

773, 936 

17, 174, 951 

75, 856 

13, 768, 392 

9, 618, 598 

7, 324, 988 

6, 212, 781 
5,112,539 
4,284,174 
4, 045, 428 
2, 987, 402 
2, 585, 397 

2, 360, 784 
8, 789, 054 
6, 610, 816 

3, 680, 883 
4, 148, 958 
3, 253, 909 
2, 570, 137 
1,111,351 
1, 037, 608 

428, 965 
759, 392 

1, 525, 222 
338, 918 

1,091,359 


$7,604 
278, 521 


1,641 

105 

3, 564 

2,795 

2,243 

410 

2,654 

566 

1,274 

1,650 

60 

993 

5 

519 

328 

230 

162 

143 

79 

63 

33 

32 

35 

117 

54 

30 

22 

11 

3 

2 


$1, 087, 932 
55, 969 
5, 058, 104 
4, 023, 276 
5,116,602 
914,401 
7, 210, 945 
1, 596, 437 

4, 206, 234 

5, 722, 914 
252, 455 

4, 414, 753 

25, 629 

2, 837, 435 

2,119,382 

1, 716, 306 

1, 375, 719 

1, 360, 144 

820, 651 

722, 998 

414, 546 

431, 201 

505, 869 

1, 985, 831 

1, 217, 160 

824, 060 

757, 885 

490, 745 

162, 847 

123, 489 




Under 1 (est.)_ 


$1,810 


1 under 2 (est.) 3 




32, 212 


2 under 2.5 (est.) 3 


2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


92, 009 


16, 264 


2.5 under 3 (est.) 

3 under 4 (est.) 3 


67,496 
173, 923 


11,497 


3 under 4 (est.) 


42, 395 


4 under 5 (est.) 3 ___ 




4 under 5 (est.) .. 


209, 168 


53, 404 


5 under 6 ._ 


228, 223 
199, 000 
185, 386 
201, 641 
193, 061 
180,216 
189, 899 
152, 061 
142, 901 
137, 580 
606, 502 
583, 815 
393, 024 
549, 721 
530, 124 
507, 102 
252, 071 
253, 883 
127, 471 
216, 554 
539, 591 
92, 914 
456, 127 


48,461 


6 under 7 


47, 032 


7under8. 

8under9 

9 under 10-.. 


44, 398 
44,269 
50, 602 


10 under 11... 


36, 055 


11 under 12 


35, 422 


12underl3. 


22, 126 


13 under 14 ... 


24, 613 


14 under 15 ._ 


29, 291 


15 under 20 


136, 540 


20 under 25 


108, 066 


25 under 30 


93, 306 


30 under 40 


103, 263 


40 under 50_ 


79, 217 


50 under 60 


31, 053 


60 under 70 

70 under 80. _ 


25, 446 


80 under 90. 








90 under 100 








100 under 150 








150 under 200 








200 under 250 








250 under 300 








300 under 400 


1 

1 


323, 841 
427, 045 


91, 501 
254, 486 








400 under 500 








500 under 750 








750 under 1,000 














1,000 under 1,500 














1,500 under 2,000 . 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 










































Total, individual re- 
turns with net in- 
come 

Individual returns with no 


107, 238 
1,335 


295, 418, 646 
6 3, 335, 902 


8, 093, 575 


19, 823 

761 


57,551,919 
6 1,705,210 


1,116,742 








Grand total 


108, 573 


» 292, 082, 744 


8, 093, 575 


20, 584 


» 55, 846, 709 


1, 116, 742 






Taxable fiduciary returns 
with net income 4 .. 


1,268 


4, 573, 084 


776, 823 


58 


320, 151 


21, 397 


Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income .. 


108, 506 


299,991,730 


8, 870, 398 


19, 881 


57, 872, 070 


1, 138, 139 


Summary of returns with 
net income for prior years: 5 
1937 


107, 560 
86, 294 
72, 258 
67, 297 


321,717,314 
296, 978, 853 
222, 817, 905 
196, 345, 236 


11,908,597 

13, 676, 938 

6, 672, 968 

5, 257, 595 


17, 823 
16, 296 

13, 570 

12,507 


55, 867, 577 
54, 516, 977 
36, 878, 747 
32, 578, 332 


1, 542, 247 


1936 


1, 740, 121 


1935 

1934 


870, 027 
479, 717 











For footnotes, see p. 167 



154 



STATISTICS OF INCOME 



Table 9.- — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 


.Missouri 


Montana 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Individual returns i with 
net income: 
Under 1 (est.) 3 


7,183 

549 

30, 897 

26, 922 

13, 029 

4,198 

16, 960 

4,849 

6,708 

11,504 

329 

5,963 

17 

3,750 

2.424 

1.611 

1, 210 

956 

651 

527 

436 

345 

307 

960 

452 

258 

311 

130 

62 

40 

39 

21 

11 

35 

7 

5 

1 

1 

1 

1 


$5, 145, 044 
277, 249 
42, 240, 959 
38. 931, 234 
29, 550. 457 

9, 301, 228 
45, 767, 552 
13, 667, 561 
21, 962, 887 
39, 836, 127 

1.411,935 

26, 548, 133 

93, 174 

20,516,651 

15, 676, 104 
12, 033. 606 
10, 253, 791 

9. 079. 768 
6, 820, 885 

6, 050, 403 
5, 444, 572 
4, 652, 1 1 1 
4, 447, 268 

16, 508, 289 
9, 996, 823 

7, 079, 569 
10,711,843 

5,750,116 

3, 374, 737 

2, 593, 926 

2,900.711 

1, 770, 654 

1, 043, 349 

4, 139, 864 

1, 142,694 

1. 048. 925 

289, 970 

357, 264 

416, 944 

683, 345 




710 

50 

6, 069 

6,030 

1,408 

1,225 

4,766 

931 

1,863 

2,139 

89 

1,181 

1 

493 

292 

206 

130 

94 

56 

45 

30 

37 

23 

52 

23 

6 

13 

6 

4 


$415, 964 

28, 466 

8, 153, 092 

9,220,119 

3, 165, 964 

2, 707, 524 

12, 855. 570 

2. 603. 548 

6,129,034 

7, 391, 989 

370, 228 

5, 237, 768 

5,191 

2, 693, 709 

1, 883, 744 

1,535,337 

1, 102, 806 

887, 948 

586, 455 

517. 349 

374. 786 

501, 796 

331, 066 

8«4, 347 

511,987 

159, 294 

455, 386 

279, 649 

222, 600 




Under 1 (est.) 


$8,770 


$646 


1 under 2 (est.) 3 






323, 725 


88, 424 


2 under 2.5 (est.) 3 




2under2.5 (est.) 

2 5 under 3 (est.) 3 


155, 341 


44, 912 


2.5 under 3 (est.) 

3 under 4 (est.) 3 


106, 261 


27,141 


326, 609 


61,057 


4 under 5 (est.) 3 




336, 492 


61, 004 








356, 487 
334. 642 
324, 231 

337. 528 
355. 230 
297. 180 
290, 943 
281, 524 
260. 205 
267, 558 

1, 159,645 
SSS, 709 
782, 469 

1.441,198 
935, 042 
644. 710 
574. 057 
733, 330 

Isl.S.iO 

333. 859 
1, 527, 902 
421, 507 
129. 449 
155.340 
202, 659 
119,500 
198. 733 


43, 232 




38, 430 


7 under 8. 


40, 612 




35, 662 


9 under 10 


34, 678 




25, 583 


11 under 12 


24, 533 


12under 13 

13 under 14 


18, 930 
26, 930 




19,699 


15under20 


62. 332 


20 under 25 


44, 419 


25 under 30 


17, 195 


30 under 40__ 

40 under 50 


62, 489 
46, 996 


50under60 


43, 636 


60 under 70 




70 under 80 








80 under 90 


2 


174, 332 


49, 405 


90 under 100 




100 under 150. 


2 


243, 218 


91, 913 


150 under 200 




200 under 250 








250 under 300 








300 under 400 








400 under 500 








500 under 750 








750 under 1,000 








1,000 under 1,500 


1 

1 


1. 268, 365 
1, 739, 385 


428, 714 
812,516 








1,500 under 2,000 








2.000 under 3,000 






















4,000 under 5,000 










































Total, individual re- 
turns with net in- 


143, 662 
2, 154 


442, 525, 472 
« 6, 655, 430 


16, 636, 955 

s 5, 654 


27, 976 
416 


71, 630, 266 

6 875, 878 


1,010,158 


Individual returns with no 








Grand total 


145,816 


" !:{5. S70. 012 


16, 642, 609 


28, 392 


1 70, 754, 388 


1,010,158 






Taxable fiduciary returns 
with net income ' 


1,334 


10, 290, 930 


2, 129, 221 


61 


196, 483 


9,770 






Total, individual returns 
with net income and lax- 
able fiduciary returns 


144, 996 


452, 816, 402 


is. 766,176 


28, 037 


71.S26, 749 


1.019,928 






Summary of returns with 
net income for prior years: 5 
1937 
1936 


1 1... 457 
130, 521 
110.370 
98,125 


491,815, 153 
462. 884, 942 
358, 008, 146 
306,041,392 


23,083,037 
24,210,538 
12. 126,233 

9. 353 651 


30, 468 
23 oio 
19,924 
16,825 


79, 583, 027 
68, 787. 896 
56,719,731 
46, 594. 430 


1, 228, 334 
1. 410. 820 


1935 


981, 165 


1934... 


636, 102 







For footnotes, see p. 167. 



STATISTICS OF INCOME 



155 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 


Nebraska 


Nevada 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


2,759 

158 

7,605 

6,221 

3,527 

1,253 

5,591 

1,263 

2,360 

3,092 

156 

2,029 

5 

929 

569 

388 

246 

204 

122 

108 

104 

77 

63 

159 

92 

43 

42 

17 

9 

9 

3 

4 

1 

1 


$1, 831, 277 

75, 766 

10, 440, 579 

9, 124, 442 

8, 027, 820 

2, 768, 121 
15, 156, 568 

3, 545, 044 
7, 799, 122 

10, 781, 497 
666, 963 

9, 039, 471 

25, 272 
5,053,617 
3, 684, 537 
2, 899, 893 
2, 087, 208 
1, 932, 662 
1, 283, 488 
1, 238, 380 
1, 297, 360 

1, 036, 853 
915, 507 

2, 710, 407 
2, 041, 744 
1, 176, 100 
1, 445, 391 

772, 800 
482, 475 
567, 635 
212, 202 
339, 460 
91,814 
127, 593 




384 

11 

1,117 

2,414 

543 

381 

1,060 

437 

462 

949 

21 

450 

2 

244 

129 

109 

46 

27 

13 

15 

14 

17 

17 

39 

18 

9 

12 

4 

8 

5 

3 


$241, 659 

7.897 

1, 561, 795 

3, 587, 687 

1, 234, 350 

852, 623 

2, 877, 883 

1, 218. 010 

1, 521, 130 

3, 273, 681 

90, 765 

2, 013, 586 

10, 089 

1, 324, 101 

830, 675 

817, 263 

389, 085 

255, 979 

137, 421 

172. 945 
177, 128 
228, 266 
247, 096 
686, 220 
404, 707 
252, 503 
434, 656 
173, 878 
425, 934 
324, 092 

224. 946 






$2, 302 


$237 


1 under 2 (est.) 3 




79,628 


30, 807 


2 under 2.5 (est.) 3 -. 


2 under 2.5 (est.) 

2 5 under 3 (est.) 3 


45, 827 


13,222 


2.5 under 3 (est.) 


33, 937 


10,400 




85, 863 


30, 632 








111,695 


32,297 








82, 043 
77, 937 
77, 500 
67, 239 
72, 665 
54, 451 
58, 816 
67, 359 
59,178 
53, 921 
184, 550 
178, 553 
127, 552 
194, 694 
129, 174 
99, 157 
122. 285 

50, 868 
93, 990 
34, 100 

51, 467 


27,468 




22, 817 




29,123 




17, 033 


9 under 10 


12, 701 




7,394 


11 under 12 


10, 014 


12 under 13 


10, 632 




13, 945 




17, 663 


15 under 20 


53. 173 


20 under 25 - . 


39, 417 


25 under 30... 


30, 320 


30 under 40 


61, 898 




28,738 


50 under 60... 


80, 578 


60 under 70 


71.608 


70 under 80... 


57,150 


80 under 90 




90 under 100 . 


2 
4 


188, 190 
490, 258 


56, 932 


100 under 150 _ 


145, 227 


150 under 200 . . 




200 under 250 








1 
1 


209, 842 
293, 837 


101, 556 


250 under 300 








156, 877 


300 under 400 










400 under 500 














500 under 750 . 














750 under 1,000 








1 


809, 033 


536, 201 


1,000 under 1,500 . 










1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000. . 














4,000 under 5,000 










































Total, individual re- 
turns with net in- 


39, 209 

979 


110,679,068 
6 2, 290, 732 


2, 296. 751 


8,969 
176 


27, 989, 210 
« 610, 458 


1, 706, 060 


Individual returns with no 












40, 188 


» 108, 388, 336 


2, 296, 751 


9,145 


7 27, 378, 752 


1, 706, 060 






Taxable fiduciary returns 


184 


564, 249 


31,329 


18 


140, 109 


12, 659 






Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income . 


39, 393 


111, 243, 317 


2, 328, 080 


8,987 


28, 129, 319 


1,718,719 


Summary of returns with 
net income for prior years: 6 
1937 


40, 629 
36, 887 
31, 253 
26, 781 


120, 277, 461 

115, 137, 721 

93,113,326 

77, 236, 225 


2, 951, 028 
3, 222, 455 
1, 795, 640 
1, 438, 974 


8,944 
7,554 
6,441 
5,321 


31, 635, 125 
27, 045, 172 


2, 439, 872 


1936 


2. 226, 219 


1935 


20, 681, 384 1, 363, 651 


1934 


15,236,981 | 528,009 









For footnotes, see p. 167. 

299429—41 11 



156 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 



New Hampshire 



Number 
of returns 



Net income 



Total tax 



New Jersey 



Number 
of returns 



Net income 



Individual returns • 

net income: 

Under 1 (est.) 3 ... 

Under 1 (est.).... 

1 under 2 (est.) 3 .. 

1 under 2 (est.).__ 

2 under 2.5 (est.) 3 
2 under 2.5 (est.). 
2.5 under 3 (est.) 3 . 
2.5 under 3 (est.). 

3 under 4 (est.) 3 .. 

3 under 4 (est.)... 

4 under 5 (est.) 3 .. 

4 under 5 (est.)... 

5 under 6 3 

5 under 6 

6 under 7 

7 under 8-. 

8under 9 

9under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

flOunder 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 ._ 
1,000 under 1,500. 
1,500 under 2,000. 
2,000 under 3,000. 
3,000 under 4,000. 
4,000 under 5,000. 
5,000 and over 



with 



Total, individual re- 
turns with net in- 
come 

Individual returns with no 
net income , 



Grand total 



Taxable fiduciary returns 
with net income * ._ 



Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 



Summary of returns with 
net income for prior 
years: 6 

1937 

1936 

1935 

1934 



1,423 

144 

4,507 

4,210 

1,564 

709 

2,170 

740 

1,007 

1,659 

73 

864 

4 

520 

314 

228 

169 

121 

76 

58 

47 

51 

26 

103 

57 

22 

27 

14 

5 
5 
3 
3 

5 

1 



$991, 943 

62,064 

5, 955, 687 

5, 934, 451 

3, 547, 029 

1, 562, 696 
5, 878, 683 

2, 076, 135 

3, 335, 369 
5, 762, 065 

311,971 

3, 849, 066 

21, 598 

2, 845, 257 

2, 032, 871 

1, 704, 167 

1, 439, 422 

1, 151, 281 

793, 395 

663, 992 

585, 631 

690,411 

376, 112 

1, 763, 904 

1, 259, 297 

593, 853 

918, 137 

646, 348 

384, 967 

316, 058 

366, 977 

250, 338 

288, 208 

559, 650 

182, 615 



$1, 602 
47,029 



26, 411 
19,354 



56, 712 



53, 592 



51, 062 
46, 266 
48, 829 
56, 358 
46, 830 
36,411 
33, 603 
31, 886 
39, 365 
23, 671 

121, 502 
114,614 

66, 948 

122, 079 
114, 583 

71,393 
72, 750 
89, 882 
58, 264 
85, 356 
207, 394 
49, 072 



13, 769 

2,015 

63, 454 

56, 690 

21, 637 

8,143 

34, 231 

10, 634 

20, 029 

26, 091 

1,055 

13. 287 

25 

8,211 

5,392 

3,709 

2,506 

1,812 

1,376 

1,017 

827 

647 

563 

1,697 

848 

440 

494 

205 

116 

76 

45 

39 

22 

42 

14 

8 

4 

3 

3 

5 

1 

1 

3 



$9, 857 
1,017 
86. 725, 
81, 092, 
49, 129 
18, 076, 
92, 892, 
29, 959, 
66, 179 
90, 705 
4,491 
58, 845 
133 
44, 815 
34, 848 
27, 687, 
21, 255 
17, 177 
14, 418 
11,676 
10,314 
8, 730 

8, 156 
29, 059 
18, 835, 
12, 002, 
16, 876, 

9, 146 
6, 366 
4, 926, 
3, 338, 
3,301 
2, 082, 

4, 970, 

2, 439, 
1,709 
1,071 
1. 096 
1, 448, 

3, 153 
7 

1, 024, 

5, 119 



20, 936 
445 



59, 101, 648 
« 1, 065, 688 



1, 792, 818 



301, 186 
3,411 



916, 935, 308 
« 12, 332, 445 



7 58, 035. 900 



1,792,818 



602, 529 



62. 394 




21,118 



21,641 
19,664 
17,687 

16, 785 



59, 704, 177 



1, 855, 212 



302, 957 



68,046,171 
62,819,698 
51,553,939 

48, 267, 423 



3, 230, 495 
3, 059, 299 
1,435, L82 
1, 348, 492 



297, 053 
260, 328 
22:-!. 489 
210, 683 



1,0(11,637,297 
928, 153,400 
737. 154.952 
686, 065, 373 



For footnotes, see p. 167. 



STATISTICS OF INCOME 



157 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 



New Mexico 



Number 
of returns 



Net income 



Total tax 



New York 



Number 
of returns 



Net income 



Total tax 



Individual returns l 
net income: 
Under 1 (est.) 3 ... 

Under 1 (est.) 

1 under 2 (est.) 3 .. 

1 under 2 (est.)... 

2 under 2.5 (est.) 3 
2 under 2.5 (est.). 
2.5 under 3 (est.) 3 
2.5 under 3 (est.). 

3 under 4 (est.) 3 .. 

3 under 4 (est.).. 

4 under 4 (est.) 3 .. 

4 under 5 (est.)... 

5 under 6 3 

5 under 6 

6 under 7 .. 

7under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000... 
1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000.. 
3,000 under 4,000.. 
4,000 under 5,000.. 
5,000 and over 



with 



Total, individual re- 
turns with net in- 
come 

Individual returns with no 
net income 



Grand total. 



Taxable fiduciary returns 
with net income 4 



Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 



Summary of returns with 
net income for prior 
years:. 3 

1937 

1936 

1935 

1934 



850 

10 

2,273 

2,211 

1,164 

578 

1,672 

597 

838 

1,422 

42 

828 

4 

459 

234 

132 

90 

59 

51 

43 

31 

10 

18 

34 

7 

6 

14 

4 

5 

3 



$523, 545 

5,288 

3, 290, 623 

3, 390, 745 
2, 656, 197 

1, 283, 478 

4. 546, 105 
1,669,117 

2, 761, 467 
4, 950, 969 

179, 524 

3, 686, 764 

20, 408 
2, 509, 370 
1, 513, 154 
985, 664 
769, 660 
561, 534 
534,911 
497, 033 
386, 888 
134, 035 
260, 143 
570, 232 
153, 453 
162, 700 
476, 555 

180, 377 
266, 168 
201, 730 



30, 467 
18,776 



15, 731 



47, 486 



56, 256 



83, 460 



13, 690 
392 



39,211,297 
8 862, 643 



14, 082 



38, 348, 654 



39, 485, 826 



13, 596 
11, 222 
9,272 

7,647 



42, 469, 435 
34, 952, 886 
25, 399, 852 
20, 107. 880 



52, 306 
41,005 
36, 260 
32, 922 
26, 887 
27, 724 
27, 322 
23, 966 
8,565 
17, 823 
44, 196 
15, 057 
17.809 
65, 301 
30, 562 
52, 506 
47, 598 



23, 803 



760, 386 



liS. Mill 



829, 246 



1, 141.400 
799, 507 
364, 772 
277, 567 



64,328 

6, 393 

218, 648 

195. 466 

82, 652 

29, 800 

123, 487 

33,611 

65,229 

77, 155 

3,029 

42, 677 

128 

27, 138 

18, 161 

12, 338 

8,926 

6,687 

5.057 

4,134 

3,295 

2,816 

2,243 

7,261 

3,728 

2,143 

2,358 

1,138 

703 

423 

267 

225 

140 

307 

105 

71 

36 

38 

12 

19 

10 

11 

6 

2 

1 



1, 052, 402 
17, 863 



1, 070, 265 



12. 701 



$47, 388, 696 

3. 275, 455 

294, 058, 150 

280, 602, 891 

188, 512, 862 
66. 127, 608 

335, 554, 308 

94, 384, 143 

214, 707, 218 

267, 680, 900 

12, 907, 742 

189, 948, 477 
682, 983 

148, 328, 896 
117,393,014 
92, 107, 876 
75. 692, 451 
63, 304, 402 
53, 000, 166 
47, 447, 179 
41, 155, 794 

37, 974, 547 
32, 453, 683 

124, 694, 184 
83, 064, 494 
58. 517, 906 
81. 242, 550 
50, 867, 049 

38, 387, 609 
27, 435, 492 
19, 913, 899 
19, 038, 684 

13, 227.27:-; 
36, 697, 129 
18, 223, 091 
15. 635, 999 

9, 738, 463 
13, 332, 641 

5, 454, 901 
11,567,642 

9, 133, 029 
12, 846, 074 
10, 121, 646 

5, 263, 893 

3. 524. 972 



$104, 462 
2, 286," 846 



1,127,319 
"915,096 



2, 498, 260 
2,449,452 



3, 372, 618, 061 
« 85, 684, 977 



3,286,933,084 



53, 495, 249 



1,065,103 3,426,113,310 



1.070.628 
976, 939 
852. 076 
807, 818 



3, 875, 605. 054 
3, 864, 452, 725 
3, 106. 263, 965 
2,811,720,784 



2, 549, 815 
2, 498, 205 
2, 449, 575 
2, 483, 218 
2, 428, 185 
2, 303, 370 
2, 276, 046 
2, 146, 908 
2. 171, 784 

1, 944, 640 
8, 829, 276 

7, 409, 808 
6,467, 197 

11,030,712 

8, 551, 251 

7, 651, 625 
6, 431, 868 
5, 144, 357 

5, 498, 729 
4, 174, 884 

13, 735, 312 

8, 139, 268 
7, 662, 612 
4, 639, 788 

6, 930, 370 

2, 625, 677 
6, 119, 289 
4, 820, 489 

7, 763, 108 
4,771.538 
2, 670, 409 
2, 561, 584 



176, 262, 332 
* 418, 289 



176, 680, 621 



10, 094, 335 



296, 063, 388 
348, 687, 146 
202.971.449 
166, 789, 731 



For footnotes, see p. 167. 



158 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


North Carolina 


North Dakota 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


2,996 

419 

9,510 

7,945 

4,547 

1,098 

6,774 

1,463 

3,737 

3,837 

192 

2,262 

9 

1,433 

886 

594 

442 

348 

292 

201 

167 

135 

119 

337 

170 

86 

84 

39 

36 

16 

9 

9 

4 

13 

7 

2 

1 


$2, 221, 563 

198, 844 

13, 062, 953 

11,443,756 

10, 366, 156 

2,412,414 

18, 420, 836 

4, 138, 532 

12,336,595 

13, 356, 983 

817, 920 

10, 054, 496 

49, 729 

7, 823, 300 

5, 714, 448 

4, 430. 526 

3,740,319 

3, 309, 985 

3, 062, 229 

2,311,641 

2, 084, 975 
1,821,717 
1,726,011 
5,821,725 

3, 798, 399 
2, 334, 239 
2, 883, 584 
1,741,079 
1, 964, 266 
1, 030, 226 

665, 851 
754, 092 
376, 842 
1, 602, 106 
1, 243, 984 
438, 161 
282, 315 




1,183 

34 

2,539 

1,855 

1,265 

249 

1,471 

313 

682 

753 

36 

393 

1 

233 

129 

67 

67 

32 

30 

19 

12 

16 

9 

16 

8 

3 

2 


$763, 367 

21, 763 

3, 648, 860 

2, 677, 321 

2, 865, 089 

552, 235 

3, 982, 622 

877, 986 

2, 258, 658 

2, 614, 751 

151, 520 

1, 737, 151 

5,677 

1, 273, 244 

834, 326 

494, 575 

563, 825 

306, 577 

314, 926 

218, 606 

148, 167 

214, 822 

130,410 

274, 231 

181,731 

77, 896 

70, 259 




Under 1 (est.) 


$6, 716 


$629 


1 under 2 (est.) 3 




98, 055 


22, 111 


2 under 2.5 (est.) 3 -- 

2 under 2.5 (est.). 

2.5 under 3 (est.) 3 

2.5 under 3 (est.) 

3 under 4 (est.) 3 -. 




40, 452 


9,119 


33, 236 


8,227 


104, 306 


18, 315 


4 under 5 (est.) 3 




116, 535 


20,044 








128, 530 
117,079 
113,098 
119, 130 
123, 243 
133, 678 
109, 127 
105, 210 
100, 067 
102, 839 
405, 157 
335, 686 
252, 189 
384, 061 
283, 621 
668, 505 
231,363 
163, 466 
203, 786 
119, 585 
618, 652 
564, 566 
214, 239 
150, 772 


21.134 


6 under 7 


17,088 


7 under 8 


12, 149 




17,327 


9 under 10... 


10, 652 


10 under 11 . 


13.344 


11 under 12 


10, 370 


12under 13. 


7,939 


13 under 14 


11,301 




7,777 


15 under 20 


19, 157 


20 under 25 


15,271 


25 under 30 


7,972 


30 under 40. 


9,464 






50 under 60 








60 under 70 








70 under 80, 


1 


70, 122 


16,502 


80 under 90 




90 under 100 








100 under 150 








150 under 200 








200 under 250 








250 under 300 








300 under 400_ 








400 under 500 


4 
1 


1, 767, 250 
512, 176 


1, 045, 866 
330, 298 








500 under 750 








750 under 1,000 








1,000 under 1,500. 














1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 














5,000 and over. 




























Total, individual re- 
turns with net in- 
come. 


50, 224 

843 


162, 122, 223 
6 2, 203, 957 


7,523,113 


11,418 
392 


27, 330, 717 
« 636, 413 


275, 892 


Individual returns with no 
net income 










Grand total 


51, 067 


' 159, 918, 266 


7,523,113 


11,810 


» 26, 694, 304 


275, 892 






Taxable fiduciary returns 
with net income 4 . . 


257 


1, 436, 191 


250, 473 


39 


115,943 


4,293 






Total, individual returns 
with net income and tax- 
able fiduciary returns 


50, 481 


163,558,414 


7, 773, 586 


11,457 


27, 446, 660 


280, 185 






Summary of returns with 
net income for prior vcars: s 
1937 


48,645 
42, 075 
35,813 
32, 305 


175,495,057 
156,362,462 
124, 880, 237 
112,913,710 


10, 582, 369 
10, 499, 380 
6,419,410 
6,281,451 


11,408 
10, 809 
10,039 
9,733 


28,351,977 
26, 705, 284 
23, 077, 405 
22, 351, 926 


358, 874 


1936 


352,260 


1935 


191,412 


1934 


183, 955 







For footnotes, see p. 167. 



STATISTICS OF INCOME 



159 



Table 9 —Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for -prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Ohio 


Oklahoma 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) ' 


15, 036 

1,558 

77, 184 

71, 158 

23, 316 

7,541 

46, 618 

11,369 

21, 268 

24, 851 

1,065 

11, 872 

54 

8,107 

5,246 

3,492 

2,371 

1,873 

1,387 

1,165 

945 

720 

630 

1,924 

957 

538 

566 

264 

146 

81 

68 

29 

33 

52 

21 

10 

6 

2 

1 

5 


$10, 768, 437 
706, 090 

100, 656, 314 
99, 688, 236 
53, 275, 921 
16,701,216 

126, 131, 263 
32, 222, 843 
69, 957, 677 
85, 976, 192 

4, 550, 307 
52, 746, 985 

289, 607 
44, 289, 642 
33, 906, 684 
26, 053, 848 

20, 082, 909 
17, 763, 221 
14, 533, 551 
13, 367, 654 
11,788,831 

9, 709, 806 
9, 121, 773 
32, 999. 565 

21, 341, 263 
14, 688, 253 
19, 359, 180 
11, 720, 173 

7,931,617 

5, 209, 279 
5, 100, 218 
2,451,171 
3, 135, 277 
6, 231, 524 
3, 739, 572 
2, 221, 807 
1, 662, 843 

650, 485 

408, 718 

2, 620, 270 




4,553 

350 

12,923 

6,412 

6,306 

1,495 

6,266 

1,451 

3,355 

4,253 

214 

2,764 

9 

1,408 

956 

611 

483 

333 

277 

199 

158 

120 

103 

297 

173 

87 

85 

44 

24 

12 

11 

7 

7 

13 

3 


$3, 135, 598 

190, 632 

18, 768, 948 

9, 730, 753 

14,318,211 

3, 305, 126 
17, 032, 326 

4, 063, 791 

11,098,373 

14, 898, 783 

914, 031 

12,273,051 

49,311 

7, 680, 030 

6, 164, 483 

4, 570, 787 
4, 087, 613 
3, 152, 395 
2, 899, 661 
2, 280, 264 
1, 967, 924 
1, 621, 389 
1, 492, 099 
5,041,925 
3, 851, 046 
2, 378, 856 
2, 905, 932 
1, 950, 624 
1,311,886 

763, 265 
830. 193 
594, 394 
667, 749 
1, 688, 576 
501, 138 




Under 1 (est.) 


$23, 536 


$6, 103 






1 under 2 (est.) 


721, 715 


95, 992 


2 under 2.5 (est.) 3 




2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


269, 370 


55, 049 


2.5 under 3 (est.) 

3 under 4 (est.) 3 


204, 805 


41, 184 


3 under 4 (est.) 


627,711 


121, 322 






4 under 5 (est.) 


637, 964 


147, 401 






5 under 6 ._ 


746.314 
708, 933 
678, 939 
648, 959 
678, 255 
625, 813 
635, 115 
602, 275 
530, 692 
540, 037 
2, 276, 824 
1, 896, 691 

1, 591, 249 

2, 605, 854 
1, 905, 497 
1,536,915 
1, 192, 207 
1, 320, 609 

681, 124 

951, 420 

2, 344, 143 

1, 668, 322 

954, 722 

874, 045 

241,090 

238, 325 

1, 106, 143 


126, 595 


6 under 7 


127, 258 


7 under 8- 


118,913 


8 under 9 


130, 205 


9under 10 


119,692 


lOunder 11 


121,989 


11 under 12 


108, 110 


12 under 13 


99, 767 


13 under 14 


92, 788 


14 under 15 


90, 150 


15 under 20 


351, 135 


20 under 25 


333, 214 


25 under 30 


258, 306 


30 under 40 


384, 752 


40 under 50 


319, 983 


50 under 60.. 


247, 650 


60 under 70.. 


164, 607 


70 under 80 


212, 932 


80 under 90 


165, 799 


90 under 100 


206, 021 


100 under 150. 


599, 103 


150 under 200 


190, 571 


200 under 250 




250 under 300 








300 under 400 








400 under 500 








500 under 750 
















1,000 under 1,500 

1,500 under 2,000 


1 

2 


1, 273, 936 
3, 550, 663 


782, 597 
1, 309, 515 












































































Total, individual re- 
turns with net in- 


343, 532 
3,977 


1, 000, 584, 821 
8 13,114,829 


34, 357, 725 
8 4, 523 


55, 762 
1,516 


168, 181, 163 
6 4, 878, 327 


5, 036, 591 


Individual returns with no 








Grand total... 


347, 509 


» 987, 469, 992 


34, 362, 248 


57,278 


' 163, 302, 836 


5, 036, 591 


Taxable fiduciary returns 
with net income 4 


2,371 


13, 128, 331 


2, 017, 131 


321 


2, 222, 233 


230, 595 






Total, individual returns 
with net income and tax- 
able fiduciary returns 


345, 903 


1, 013, 713, 152 


36, 374, 856 


56,083 


170, 403, 396 


5, 267, 186 






Summary of returns with 

net income for prior years: 5 

1937 


384, 077 
308, 789 
246, 888 
209, 589 


1,228,084,956 

1, 078, 986, 270 

766, 528. 630 

631, 348, 370 


59, 702, 803 
58, 476, 868 
28, 981, 842 
19,761,006 


55, 323 
51, 277 
44, 909 
39,279 


190, 524, 308 
170, 786, 455 
139, 147, 683 
120, 030, 049 


8, 265, 541 


1936 


6, 632, 281 


1935. 


3, 433, 003 


1934 


3, 416, 992 







For footnotes, see p. 167. 



160 



STATISTICS OF INCOME 



Table 9.— Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for -prior years, by 
States and Territories: number of returns, net income, and total tax- — Continued 



Net income classes 
(Thousands of dollars) 


Oregon 


Pennsylvania 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est ) 3 


2,771 

155 

12,416 

13, 646 

4,144 

1,437 

6,103 

1,668 

2,269 

3,438 

96 

1,755 


$1, 886, 321 
74, 265 

17, 070, 137 

19,361.177 
9, 394, 740 
3. 176, 139 

16, <96, 666 
4, 702, 403 
7, 406. 051 

11, 880, 663 

401, 251 

7, 807, 965 




25, 123 

1,921 

91, 884 

84, 062 

43, 040 

19, 180 

76, 206 

13,906 

31,978 

36, 822 

1, 745 

26, 103 

67 

12, 068 

7,612 

5, 152 

3,574 

2,709 

2,015 

1,526 

1,284 

1, 063 

880 

2,737 

1,404 

792 

852 

411 

247 

143 

71 

74 

44 

109 

27 

15 

7 

14 

3 
5 
1 
2 


$17, 443. 941 
1,019,655 

125,529,511 

128, 007, 816 
98, 286, 858 
42. 428, 954 

206, 329, 387 
38, 605, 048 

115,143,279 

128, 884, 521 
7, 451, 641 

116, 135, 700 
356, 981 
65, 858, 807 
49. 235, 701 
38,461,078 
30, 292, 528 
25, 665, 216 
21,105,222 
17,531,653 
16, 027, 565 
14, 338, 617 
12, 746, 729 
47, 119, 365 
31,251,579 
21, 640. 974 
29, 205, 078 
18, 296, 248 
13, 493. 773 
9, 238, 739 

5, 329, 859 

6, 287, 652 
4, 167, 872 

13, 098, 452 
4, 559, 582 
3, 376, 684 
1, 849. 451 
4,880,S51 
3, 182. 991 
1, 586, 437 
4, 298, 709 
1,-326, 571 
3,659,051 




Under 1 (est.) 

1 under 2 (esU 3 


$2, 027 

146, 570 

51, 587 


$33, 313 


1 under 2 (est.) 

2 under 2.5 (est.) 3 . 


1, 268. 522 


2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


733, 377 


2.5 under 3 (est) 


34, 475 


522, 606 




92, 055 


1, 260, 201 






4 under 5 (est.) 


'99,277 


1, 457, 242 


5 under 6 ... 


1,125 

663 

415 

286 

220 

147 

141 

103 

95 

72 

192 

93 

39 

55 

28 

4 

4 

1 


6, 116, 818 
4, 286, 576 
3, 097, 096 
2,411,775 
2, 089, 891 
1, 545, 276 
1, -625, 822 
1, 282, 098 
1,285,789 
1. 042, 637 
3, 300, 827 
2, 059, 063 
1, 060, 646 
1,861,457 
1, 221, 964 
219, 162 
256, 242 
72, 210 


103, 679 
91,416 
80, 365 
76, 666 
79, 835 
66, 787 
77, 095 
65, 707 
70,412 
62, 636 
231, 778 
183, 214 
113,922 
245. 627 
197, 288 
40, 939 
56. 737 
16, 841 


1,149,794 


6 under 7 


1,073,697 


7under 8 


1. 040, 937 


8 under 9 


1, 000, 901 


9under 10 


992, 385 


10 under 11 


929, 323 


Itunder 12 


850, 720 


12 under 13 


849, 575 


13 under 14 


817,067 


14 under 15.. 


76S, 939 


15 under 20 


3, 325, 208 


20 under 25 


2, 798, 808 


25 under 30 


2, 373, 293 


30 under 40 


3, 922, 535 


40 under 50 


3. 020, 061 


50 under 60 ... _. 


2, 676, 131 


60 under 70 


2, 108, 879 


70 under 80 _' 


1,376,927 


80 under 90 


1,831,217 


sounder 100 


1 
2 


94, 102 
222, 831 


23, 441 
81, 406 


1, 333, 194 


100 under 150 


4. 944, 438 


150 under 200 


1,901,968 


200 under 250... 








1, 603, 275 


250 under 300... 








954, 277 


300 under 400 . 








2, 686, 469 


400 under 500 .. 








1,759,919 


500 under 750... 








1, 106, 460 


750 under 1,000 








2,721,233 


1,000 under 1,500 . 








923, 879 


1,500 under 2,000 . 








2,586, 133 


2,000 under 3,000 . 










3,000 under 4,000 














4,000 under 5,000 














5,000 and over 




























Tota', individual re- 
turns with net in 
come ... . 


53, 584 
1,117 


134, 810, 060 
« 2, 712, 631 


2, 391, 782 


499, 885 
7,683 


1, 544, 736, 356 
« 26. 097. 370 


60, 705, 903 


Individual returns with no 
net income . 


s 17,298 








Grand total 


54, 701 


7 132, 097, 429 


2, 391, 782 


507, 568 


' 1, 518, 638, 986 


60, 723, 201 


Taxable fiduciary returns 
with net income * 


223 


566, 325 


31,920 


5,164 


17,423,567 


2, 547. 908 


Total, individual returns 
with net income and tax 
able fiduciary returns 
with net income 


53, 807 


135, 376, 385 


2. 423. 702 


505, 049 


1, 562, 159, 923 


63, 253, 811 






Summary of returns with 
net income for prior 
years: 5 


51,802 

37. 778 
33, 273 
27, 253 


144. 034, 458 
118,060.934 
91,305,901 
71,076,619 


3.251.763 
3,213,027 
1, 625, 697 
1, 084, 638 


576, 291 
1711. .Ml 
389, 994 
342, 308 


1, 892, 696, 555 
1,604,324.714 

1.273.3X3.217 
1, 067, 788. 870 




1936 

1935 ... 


104,979,166 
57,052 818 


1934 


44, 423, 725 







For footnotes, see p. 167 



STATISTICS OF INCOME 



161 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 


Rhode Island 


South Carolina 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 - 


2,091 

186 

10, 235 

8,194 

2, 651 

1,241 

4,700 

1,125 

2,280 

2,731 

152 

1,357 

3 

952 

601 

442 

314 

217 

187 

145 

131 

107 

84 

256 

99 

83 

96 

32 

16 

10 

12 

3 

2 

15 

5 

2 


$1, 478, 036 

90, 677 

13, 371, 830 

11, 806. 735 

6, 010, 060 

2, 754, 509 

12, 765, 617 

3, 155, 941 

7, 525, 881 

9, 432, 002 

647, 408 

6, 030, 779 

15, 951 

5, 214, 471 

3,901,082 

3, 309, 757 

2, 661, 154 

2, 055, 289 

1, 956, 893 

1, 659, 390 

1, 641, 858 

1, 447, 499 

1, 220, 555 

4, 435, 375 

2,221,773 

2, 261, 192 

3, 304, 136 

1, 420, 140 

870, 954 

640, 071 

877, 372 

260, 473 

181,635 

1, 827, 480 

868, 019 

420, 783 




1,559 

202 

4.918 

3,951 

2,391 

510 

3,204 

679 

1,651 

1,706 

104 

1,117 

4 

619 

370 

251 

158 

126 

93 

48 

56 

46 

31 

99 

39 

17 

27 

11 

6 

2 

2 


$1,084,146 

99, 788 

6,982,411 

5,611,423 

5, 395, 761 

1,116,704 

8,667,615 

1,916,088 

5, 459, 879 

5, 951, 871 

447, 597 

4, 967, 287 

21, 323 

3, 377, 711 

2, 396, 303 

1, 873, 370 

1, 336, 054 

1,192,820 

969, 601 

549. 958 

699, 925 

618,612 

449, 705 

1, 691, 809 

858, 865 

458, 774 

906, 293 

493, 572 

323, 475 

133. 366 

151,876 




Under 1 (est.)... 


$3, 030 


$3,375 








98, 481 


43, 018 


2 under 2.5 (est.) 3 




2.5 under 3 (est.) 3 


47, 307 


18,715 


2.5 under 3 (est.) 


31, 443 


15, 589 




83, 499 


41,758 








75, 421 


53, 972 








93, 896 
86, 125 
91,075 
89, 787 

80, 595 
87,611 
81, 102 
85, 685 

81, 755 
75, 160 

319, 293 
199, 203 
247, 598 
446, 082 
232, 707 
169, 824 
150,825 
221, 345 
73, 979 
65, 415 
714, 820 
382, 929 
209, 456 


53, 809 


6 under 7 


48, 239 


7 under 8 .- 


47, 652 


8 under 9 


40,888 


9 under 10 


43,502 




40, 367 




24, 729 


12 under 13 


34, 627 




32, 853 


14 under 15 . . 


26, 535 


15 under 20. _ „ 


111,676 


20 under 25_ 


73, 805 


25 under 30 . 


48, 824 


30 under 40 


115,977 


40 under 50 


81,433 


50 under 60 . . 


59, 849 


60 under 70,.. 


31,225 


70 under 80 


39,990 


80 under 90 




90 under 100 


1 
1 
1 


95, 941 
134, 821 
159, 136 


22,293 


100 under 150 


53,599 


150 under 200 


68, 476 


200 under 250 




250 under 300 








300 under 400 


1 


320, 121 


177, 294 








400 under 500 








500 under 750 














750 under 1,000 














1,000 under 1,500 














1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 










































Total, individual re- 
turns with net in- 
come 

Individual returns with 


40, 758 
718 


120, 062, 898 
« 2, 754, 108 


4, 802, 742 


24, 000 
470 


66, 593, 8S0 
e 1, 069, 427 


1, 276, 775 










41, 476 


» 117, 308, 790 


4, 802, 742 


24, 470 


' 65, 524, 453 


1, 276, 775 






Taxable fiduciary returns 
with net income 4 ._ . _ _ 


832 


2,071,609 


209, 677 


97 


463, 003 


38, 567 


Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income . 


41, 590 


122, 134, 507 


5, 012, 419 


24, 097 


67, 056, 883 


1, 315, 342 


Summary of returns with 
net income for prior years: 5 

1937 

1936 

1935 

1934 


43, 273 
38, 424 
33, 009 
31, 235 


151,295,024 
141, 967, 609 
113.640,801 
104, 193, 731 


10, 066, 754 
10, 755, 927 
6, 002, 036 
5, 232, 124 


23, 316 
19, 975 
16, 826 
14. 937 


70, 917, 003 
61, 786, 752 
47, 010, 243 
41, 023, 968 


2,001,311 

1, 653, 997 

802, 720 

735, 471 











For footnotes, see p. 167. 



162 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
Stales and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


South Dakota 


Tennessee 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) 3 


1,166 

43 

2,803 

2,113 

1,267 

299 

1,422 

263 

597 

664 

33 

402 


$744, 135 
22, 250 
3, 958, 957 
3, 048, 751 
2, 887, 659 

662, 287 
3, 835, 820 

741, 053 
1, 967, 423 
2, 321, 719 

140, 583 
1, 783, 866 




2,201 

231 

11,519 

8,538 

3,724 

2,040 

8,877 

1,810 

3,937 

5,097 

192 

3,684 

5 

1,668 

1,140 

705 

452 

356 

260 

213 

146 

143 

115 

298 

177 

108 

96 

67 

26 

13 

5 

4 

2 

6 

1 

1 

2 

1 


$1, 579, 376 

118,262 

15,317,063 

13, 185, 590 

8, 527, 983 

4, 538, 421 
24. 035, 081 

5, 027, 862 
12,914,504 
17,843,018 
822, 422 
16, 442, 242 
26. 421 
9, 105. 275 
7, 356, 554 

5, 262, 883 
3, 835, 504 
3, 376, 884 
2, 721, 274 
2, 448, 333 
1,816,316 
1, 928, 403 
1, 666. 351 
5,060,138 
3, 939, 678 

2, 955, 025 

3, 291, 963 
2, 957, 247 
1, 428, 522 

827, 539 
373, 043 
349, 622 
194,017 
641,679 
173, 347 
231,641 
570, 100 
305, 989 




Under 1 (est.) 


$744 


$3, 876 


1 under 2 (est.) » 

2 under 2.5 (est.) 3 




24, 055 


134, 149 


2 under 2.5 (est.) 

2.5 under 3 (est.) 3 

2.5 under 3 (est.) 


10, 603 


77, 362 


6,076 


58, 411 


3 under 4 (est.). 


17, 195 


159, 233 


4 under 5 (est.) 3 




20, 304 


197, 218 


5 under 6.- 


223 

146 

79 

46 

42 

31 

16 

15 

16 

15 

35 

10 

6 

2 

3 


1, 215, 367 
935, 585 
589, 929 
389, 220 
397,111 
324, 278 
185, 292 
186, 445 
215, 702 
217, 296 
601, 531 
221,319 
158, 685 
69, 142 
129, 636 


19, 539 
19,017 
15, 768 
13, 167 

15, 457 
13, 386 

8,942 
9,449 
11,716 
12, 994 
41,078 
20,011 

16, 559 
9,678 

20, 254 


152, 735 


6 under 7 


154, 923 


7 under 8 


136, 115 


8under 9 


125. 955 


9under 10_-_ 


127, 231 


10 under 11 


118, 500 


11 under 12 


113,328 


12 under 13 


94, 798 


13 under 14 


106, 120 




97, 643 


15 under 20 


344, 597 


20 under 25 


348, 305 


25 under 30__ 


323, 439 


30 under 40 


438, 555 


40 under 50 


473, 532 


50 under 60 _. 


269. 454 


60 under 70. .. 








178, 500 


70 under 80- 








93. 935 


80 under 90 








92, 870 


90 under 100 . 








62, 927 


100 under 150 .. 








212, 683 


150 under 200- . 








78, 393 


200 under 250.. 








116,228 


250 under 300. ... 








305, 302 


300 under 400 _ ... 








167, 637 


400 under 500 _. 










500 under 750 








1 


592, 538 


370, 713 


750 under 1,000 . 










1,000 under 1,500 














1,500 under 2,000.. 














2,000 under 3,000. 














3,000 under 4,000... 














4,000 under 5,000 














5,000 and over 




























Total, individual re- 
turns with net in- 
come. 


11, 757 
394 


27, 951, 041 
« 749, 867 


325, 992 


57, 861 
656 


183,788,110 
• 2, 035, 325 


5, 734, 667 


Individual returns with no 
net income 










Grand total 


12, 151 


1 27, 201, 174 


325, 992 


58, 517 


'181,752,785 


5, 734, 667 






Taxable fiduciary returns 
with net income 4 


44 


122, 516 


5,784 


271 


2, 608, 083 


902. 467 






Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 


11,801 


28, 073, 557 


331, 776 


58, 132 


186, 396, 193 


6, 637, 134 






Summary of returns with 
net income for prior years: 8 
1937 


11,328 
10, 724 
9,582 
8,302 


27, 870, 379 
27, 755, 966 
24, 693, 550 
20,105,511 


377, 107 
431,114 
345, 333 
225, 380 


58, 598 
48, 048 
42, 341 
37, 938 


195, 529, 330 
173.317,393 
135. 557, 076 
115,788,720 


7, 567, 645 


1936.. 


7, 342, 668 


1935 


3, 937, 433 


1934 


3, 596, 105 







For footnotes, see p. 167. 



STATISTICS OF INCOME 



163 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 





Texas 


Utah 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns » with 
net income: 
Under 1 (est.) 3 


10, 190 

145 

33, 978 

29, 641 

15, 443 

7,215 

24, 700 

8,937 

13, 475 

23, 106 

764 

14, 452 

14 

7,850 

4,467 

2,393 

1,519 

1,038 

800 

743 

511 

453 

381 

1,113 

634 

367 

387 

197 

101 

68 

45 

23 

21 

51 

5 

10 

4 

3 

6 

1 

1 

2 


$6, 734, 283 
87, 867 
47,763,174 
44, 533, 594 
35, 146, 991 
16,042,069 
67, 165, 565 
25, 019, 893 
44, 409, 772 
80. 539, 067 
3, 253, 107 
64, 271, 210 
75, 537 
42, 813, 672 
28, 775, 800 
17, 832, 761 

12, 880, 518 
9, 846, 492 
8, 402, 382 
8, 545, 461 
6, 370, 014 
6, 101, 556 
5, 520, 217 

19, 154, 040 
14, 098, 984 
10, 029, 023 

13, 286, 323 
8, 672, 327 
5, 531, 743 
4, 386, 947 
3, 353, 087 
1, 937, 303 
2, 017, 897 
6, 048, 033 

912, 703 
2, 299, 058 
1, 070, 453 
1,141,454 
2, 622, 836 
657, 060 
930, 588 
2, 814, 838 




1,276 

85 

4,120 

2,999 

1,822 

363 

2,936 

537 

1,437 

1,315 

77 

769 

1 

421 

232 

179 

121 

86 

69 

49 

38 

34 

25 

84 

42 

19 

23 

10 

3 

2 

1 

1 


$855, 552 

43, 475 

5, 730, 594 

4, 231, 795 

4, 150, 168 

800, 371 

7, 966, 695 

1, 518, 554 

4, 752, 587 

4, 526, 625 

326, 793 

3, 429, 449 

5,304 

2, 297, 815 

1, 499, 310 

1, 339, 871 

1, 030, 307 

814, 222 

723, 492 

564, 133 

475, 475 

456, 881 

362, 383 

1, 437, 483 

943, 148 

521, 348 

778, 342 

452, 432 

176,066 

133, 959 

75, 141 

81, 098 




Under 1 (est.) 


$2, 084 


$1,484 


1 under 2 (est.) 3 




372, 996 


32,805 


2 under 2.5 (est.) 3 

2 under 2.5 (est.)..- 

2.5 under 3 (est.) 3 ._ ... 
2.5 under 3 (est.) 

3 under 4 (est.) 3 .. 




233, 127 


13,202 


235, 591 


10, 987 


821, 870 
" "l, 66i~738~ 


31, 847 


4 under 5 (est.) 3 




37, 211 








878, 592 

777, 747 

637, 579 

566, 615 

481, 770 

448, 149 

498, 392 

391, 704 

396, 042 

386, 793 

1, 500, 732 

1,371,090 

1, 175, 621 

1, 864, 015 

1, 445, 506 

1,091,178 

1, 009, 682 

835, 732 

552, 058 

632, 790 

2, 149, 827 

351,613 

1,001,999 

406, 926 

555, 561 

827, 288 

417, 580 

627, 428 

860, 710 


35, 436 


6 under 7. 


29,640 




33, 840 


8 under 9 


31, 369 


9under 10 


29,249 


10 under 11.. 


31,012 


11 under 12 


26,774 


12 under 13 


24,314 


13 under 14_ 


25, 187 




20,771 


15 under 20... 


100, 083 


20 under 25 


85, 421 


25 under 30 


55, 673 




103, 286 


40 under 50 


74,003 


50 under 60... 


35, 118 


60 under 70.. 


30, 543 


70 under 80 . 


16, 304 


80 under 90- 


21, 465 






















200 under 250 . 


1 


215, 798 


60,159 






































1,000 under 1,500 






































































Total, individual re- 
turns with net in- 

ineome 

Individual returns with no 
net income 


205, 254 
4,333 


683, 095, 699 
« 16, 929, 993 


26, 808, 125 


9,177 
313 


52, 716, 666 
« 869, 377 


997,183 


Grand total... 


209, 587 
956 


» 666, 165, 706 


26, 808, 125 


19,490 


1 51, 847, 289 


997, 183 


Taxable, fiduciary returns 
with net income 4 . 


8,151,748 


1, 335, 979 


101 


502, 404 


61, 854 


Total, individual returns 
with net income and tax- 
able fiduciary returns 


206, 210 


691, 247, 447 


28, 144, 104 


19, 278 


53, 219, 070 


1, 059, 037 






Summary of returns with 
net income for prior years: 5 
1937 


196,415 
156, 855 
131.447 
118, 930 


725, 591, 822 
569, 444, 419 
439, 162, 958 
366, 713, 839 


33, 918, 378 
27, 265, 553 
19, 498, 410 
11,312,971 


19, 892 
16, 262 
14, 088 
11,458 


59, 614, 157 
50, 926, 789 
39, 902, 816 
32, 016, 329 


1, 619, 567 


1936 


1, 458, 140 


1935 


686, 084 


1934... 


468, 653 



For footnotes, see p. 167. 



164 



STATISTICS OF INCOME 



Table 9. — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued .. 



Net income classes 


Vermont 


Virginia 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns ' with 
net income: 
Under 1 (est.) a. 


166 

59 

3, 430 

2,979 

610 

343 

2,232 

436 

772 

913 

49 

538 

2 

310 

181 

126 

84 

68 

52 

28 

28 

35 

22 

49 

19 

11 

8 

5 

5 


$111,290 

29, 491 

4, 424, 443 

4, 190. 481 

1, 369, 303 
759, 140 

6,010,013 
1, 230. 953 

2, 535, 167 
3, 157, 741 

210, 771 

2, 404, 103 

10, 187 

1, 691, 793 

1, 178, 612 

941, 637 

706, 973 

641, 238 

545, 250 

322, 634 

350, 232 

472, 228 

317, 108 

839, 695 

415. 769 

308, 309 

265, 549 

226, 592 

278, 903 




3,499 

182 

13, 617 

11, 058 

5, 961 

3,120 

9,094 

2,011 

4,266 

6,771 

175 

5,537 

3 

2,050 

1,190 

791 

564 

419 

289 

252 

168 

172 

122 

373 

198 

106 

84 

53 

27 

18 

8 

4 

4 

19 
3 
6 


$2, 447, 836 
98, 706 
19, 022, 529 
17, 635, 540 
13, 553, 944 

6. 907. 722 
24, 703, 201 

5. 533. 217 
13,971,475 

23, 777, 439 
752, 749 

24, 604, 742 

15, 599 
11.175,762 
7, 692, 887 

5. 908, 266 
4. 781, 453 

3, 973, 354 
3, 024, 586 
2, 895, 497 
2, 098, 102 
2, 320, 727 
1, 773, 926 

6, 42S, 672 

4. 411, 533 
2, 899, 679 
2, 834, 259 
2, 373, 540 
1,469,311 
1, 153, 844 

597, 925 
329, 406 
375, 893 

2, 183, 118 
525, 027 

1, 276. 382 






$964 


$3, 162 






31, 151 


191, 469 


2 under 2.5 (est.) 3 


2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


12, 880 


117, 125 


2.5 under 3 (est.) 


10, 506 


84, 826 




28. 154 


239, 008 






4 under 5 (est.) 


32, 092 


299, 650 






5 under 6 


31, 036 
27, 202 
26, 975 
23, 149 
26, 006 
26, 263 
15, 907 
18,413 
26. 586 
18, 791 
60,628 

37, 877 
35,015 
34, 579 

38, 235 
55, 788 


186, 493 




161, 587 


7under8 


153, 423 


8 under 9_ . 


156, 515 


9 under 10 


151, 173 




128, 602 


11 under 12 


138. 129 


12underl3_ 


108,256 


13 under 14 


129, 557 


14 under 15 


105, 596 


15 under 20. 


451, 872 


20 under 25. 


391, 450 


25 under 30 


318, 506 


30 under 40 


375, 546 


40 under 50 


388, 635 


50 under 60 


284, 046 


60 under 70 


255, 685 


70 under 80, 


1 


70, 811 


17, 348 


149, 386 


80 under 90 


89, 393 


90 under 100 








112, 393 


100 under 150. ... 


2 


241,412 


91, 718 


782, 609 


150 under 200... 


206, 706 


200 under 250 








587, 142 


250 under 300 _. . 










300 under 400 








1 

1 


310, 659 
439, 437 


170, 699 


400 under 500 








259, 531 


500 under 750 ... 










750 under 1,000 








1 


866, 168 


562, 482 


1,000 under 1,500 










1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 














5,000 and over . 




























Total, individual re- 
turns with net in- 
come _ . 


13, 563 
139 


36, 257, 828 
« 450, 191 


727, 263 


72, 217 

897 


227, 144, 112 
e 2, 436, 648 


7, 740 652 


Individual returns with no 
net income 










Grand total . 


13, 702 


1 35, 807, 637 


727, 263 


73, 114 


' 224, 707, 464 


7, 740, 652 






Taxable fiduciary returns 
with net income * 


120 


402, 799 


50, 049 


408 


1, 284, 322 


87, 919 




Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income.. . 


13. 683 


36, 660, 627 


777, 312 


72, 625 


228, 428, 434 


7, 828, 571 




Summary of returns with 
net income for prior 
years: 6 
1937... _ 


13, 874 
12, 193 
10, 903 
9,824 


40,647,118 
37, 146, 202 
30. 293. 579 
26, 565, 697 


1, 231, 377 

1, 195, 886 

503, 958 

435, 666 


71,645 
62, 449 
54, 835 
47, 814 


245,434,150 
218, 974, 309 
171, 203, 815 
139, 932, 355 


12, 378, 744 


1936 


1935 


5, 268, 764 
3, 665, 810 


1934 





For footnotes, see p. 167. 



STATISTICS OF INCOME 



165 



Table 9 — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 
(Thousands of dollars) 



Individual returns > 
net income: 
Under 1 (est.) 3 -- 

Under 1 (est.) 

1 under 2 (est.) 3 _. 

1 under 2 (est.)_-. 

2 under 2.5 (est.) 3 . 

2 under 2.5 (est.).. 
2.5 under 3 (est.) 3 . 
2.5 under 3 (est.).. 

3 under 4 (est.) 3 - . 

3 under 4 (est.) — 

4 under 5 (est.) 3 _. 

4 under 5 (est.) - - - 

5 under 6 3 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000.-. 
1,000 under 1,500. 
1,500 under 2,000. 
2,000 under 3,000. 
3,000 under 4,000. 
4,000 under 5,000. 
5,000 and over 



with 



Washington a 



Number 
of returns 



Net income 



4,477 

73 

20, 581 

26. 193 

6,447 

3,655 

12, 777 

4. 339 

5,321 

9,347 

267 

5,985 

5 

2,841 

1,508 

716 

440 

281 

197 

171 

140 

102 

76 

233 

113 

51 

61 

36 

15 

11 

3 

2 



$3. 092, 131 
48, 361 
27, 442, 813 
37, 270, 246 
14, 651, 282 

8, 130, 922 
34, 622, 928 
12, 161, 518 
17, 459, 404 
32,577,116 

1, 137, 381 

26, 575, 935 

26, 642 

15, 514, 224 

9, 715, 724 
5, 329, 819 
3, 731, 824 
2, 642, 495 
2, 068, 268 
1, 965, 828 
1, 744, 489 

1, 381, 165 
1, 100, 006 
3, 982, 833 

2, 527, 032 

1, 402, 452 

2, 053, 540 
1, 604, 791 

817, 466 
715, 933 
224, 849 
172, 263 



Total tax 



$1, 401 
"282,263 



127, 857 



115,684 



362, 534 



448, 623 



472, 839 
696, 649 



311,436 

257. 303 

182, 269 

160, 348 

125, 299 

105, 756 

111, 574 

104, 464 

87, 294 

73, 002 

305, 995 

242, 121 

165, 360 

282, 171 

285, 420 

159, 057 

158, 374 

57, 199 

49, 869 



West Virginia 



Number 
of returns 



Net income 



177, 192 
297, 859 



Total, individual re- 
turns with net in- 
come 

Individual returns with no 
net income 



Grand total- 



Taxable fiduciary returns 
with net income 4 



Total, individual returns 
with net income and tax- 
able fiduciary returns 
with net income 



Summary of returns with 
net income for prior 
years: 5 

1937- 

1936 

1935 

1934 



106, 472 
1,774 



108, 246 



510 



275, 061, 168 
e 4, 738, 201 



' 270, 322, 967 



104, 386 
88, 640 
69, 919 
60. 151 



1, 838, 932 



3,322 

203 

13, 082 

9,462 

3,586 

1,922 

7,096 

1,454 

3,149 

3,920 

191 

2,499 

1 

1,067 

662 

470 

331 

235 

180 

137 

123 

79 

74 

228 

92 

61 

56 

23 

11 

7 

6 

2 

4 

5 

2 

1 



5, 037, 724 



5, 037, 724 



130, 130 



276, 900, 100 



5, 167, 854 



295, 685, 148 
259, 649, 969 
197, 923, 584 
153, 639, 087 



8, 315, 210 
7, 875, 628 
3, 868, 053 
2, 551, 738 



53, 744 
726 



54, 470 



270 



$2, 304, 373 

90, 215 

17, 804, 627 

14, 168, 824 

8, 097, 008 

4, 221, 447 
19, 223, 525 

4, 049, 069 
10, 373, 950 
13, 639, 401 
809, 970 
11,139,348 
5, 369 

5, 829, 885 
4, 277, 060 
3,514,816 
2, 796, 843 

2, 229, 386 
1, 888, 644 
1, 572, 153 
1,531,037 
1,069,185 
1, 070, 451 

3, 916, 080 
2, 061, 214 
1, 655, 542 
1, 921, 691 
1, 055, 202 

597, 005 
441, 689 
445, 388 
176, 168 
383, 021 
561, 142 
333, 732 
217, 985 



Total tax 



449, 527 



i 144, 233. 830 



1, 069, 506 



54, 014 



59, 323 
47, 527 
37, 224 
30, 297 



146, 991, 478 



173,671,357 
145, 745, 636 
106, 920, 022 
87, 992, 253 



$2, 813 



130, 442 
" 71,244 



47, 113 
"il9,"778 



137, 749 



98, 585 
92, 643 
93, 675 
86, 222 
87, 906 
81, 066 
75, 135 
78, 242 
60, 062 

62, 740 
272, 740 
185, 734 
181, 961 
259, 026 
179, 189 
112,364 
110,719 
111,736 

63, 916 
121, 420 
190, 183 

89, 570 
69, 967 



131, 290 



145, 921, 972 3, 405, 230 
« 1, 688, 142 



3, 405, 230 



76, 539 



3, 481, 769 



5, 203, 949 
5, 160, 600 
2, 276, 187 
1, 674, 942 



For footnotes, see p. 167. 



166 



STATISTICS OF INCOME 



Table 9.- — Individual returns with net income, 1938, by net income classes, aggregate 
for individual returns with no net income, aggregate for taxable fiduciary returns 
with net income, 1 and summary of returns with net income for prior years, by 
States and Territories: number of returns, net income, and total tax — Continued 



Net income classes 


Wisconsin 


Wyoming 


(Thousands of dollars) 


Number 
or returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Individual returns i with 
net income: 
Under 1 (est.) ' -. 


16, 848 

723 

34, 851 

33, 149 

13, 545 

3,384 

13, 558 

3,579 

5,453 

7,274 

463 

4,496 

7 

2.728 

1,625 

1,052 

708 

601 

428 

308 

253 


$11, 679, 722 

347, 557 

46, 842, 892 

47, 009, 676 

30,670,119 

7, 487, 775 

36, 619, 638 

10, 035, 674 

17, 988, 177 

25, 157, 668 

1, 978, 320 

20, 155, 163 

36, 872 

14,870,727 

10, 493, 825 

7, 860. 815 

6, 003, 292 

5, 688, 009 

4, 486, 742 

3, 534, 075 

3. 154. 539 




629 

25 

2,004 

2,701 

915 

291 

1,457 

438 

785 

1,049 

33 

492 

2 

254 

202 

123 

68 

48 

38 

28 

20 

18 

18 

41 

19 

5 

9 

2 

1 


$401, 565 
13,361 
2,811,376 
3, 800, 955 
2, 077, 658 
644, 291 
3,972,110 
1, 234, 238 

2, 582, 410 

3, 625, 321 
140, 877 

2, 185, 845 

10,013 

1, 382, 902 

1, 300, 457 

918, 986 

578, 225 

457, 387 

397, 528 

320, 801 

250, 696 

244. 521 

261,597 

705, 938 

418, 969 

133, 569 

320, 190 

84, 448 

53, 324 




Under 1 (est.) 


$11, 130 


$410 


1 under 2 (est.) * 






367, 252 


28,143 


2 under 2.5 (est.) 3 




2 under 2.5 (est.) 

2.5 under 3 (est.) 3 


128, 731 


9,387 


2.5 under 3 (est.) 

3 under 4 (est.) 3 


92, 101 


9,599 




231, 994 


27, 147 








274, 773 


26, 855 








256, 546 
224, 180 
209, 732 
198, 808 
217, 686 
194, 529 
172, 193 
161,735 
143, 176 
137,074 
633, 300 
460, 929 
376, 456 
568, 258 
458, 063 
420, 992 
238, 915 
169,815 
120, 280 
61, 336 
592, 624 
809, 149 


22,994 




26,287 


7 under 8 


25, 172 


8 under 9 


18, 135 


9 under 10 


17,396 


10 under 11 


16, 952 


11 under 12 


15,880 


12 under 13 


12, 331 


13 under 14 


192 2. 590. 532 


13,231 


14 under 15 


161 

533 

235 

127 

124 

59 

38 

17 

9 

5 

2 

14 

11 


2, 337, 598 

9, 140, 230 

5, 229, 855 

3,471,453 

4, 271, 623 

2, 662, 665 

2, 096, 424 

1,091,081 

658, 827 

423, 187 

192,000 

1, 657, 723 

1, 923, 758 


16,650 


15 under 20 


49, 814 


20 under 25 


35, 577 


25 under 30 


14,168 


30 under 40 


43, 376 


40 under 50 


13, 462 


50 under 60 


9,948 


60 under 70... 




70 under 80 


1 


70, 738 


16,803 


80 under 90 . . 




90 under 100 








100 under 150 








150 under 200 








200 under 250 








250 under 300 


2 
2 


522, 174 
721, 814 


229, 362 
406, 600 








300 under 400 . 








400 under 500... 








500 under 750 


1 


646, 279 


188,046 








750 under 1,000 








1,000 under 1,500 . 














1,500 under 2,000 .. 














2,000 under 3,000... 














3,000 under 4,000 . 














4,000 under 5,000 .. 














5,000 and over . 




























Total, individual re- 
turns with net in- 
come 


146, 565 
2,275 


351, 738, 500 
* 4, 842, 273 


8, 755, 765 


11,716 
272 


31, 400, 296 
« 707,031 


469, 717 


Individual returns with no 
net income .. 










Grand total 


148, 840 


'346,896,227 


8, 755, 765 


11, 988 


'30,693,265 


469, 717 






Taxable fiduciary returns 
with net income *.. 


1,044 


3, 502, 309 


278, 117 


53 


163, 224 


6,763 






Total, individual returns 
with net income and tax- 
able fiduciary returns with 
net income 


147, 609 


355, 240, 809 


9, 033, 882 


11, 769 


31, 563, 520 


476,480 






Summary of returns with 
net income for prior 
years: * 
1937 


151,820 
124, 202 
105, 785 
92, 826 


403, 656, 499 
338, 951, 189 
258, 590, 449 
217, 350, 901 


13, 592, 844 
13,615,062 
5, 577, 366 
5,009,731 


12, 247 
10, 702 
8,739 


35, 287, 480 
30, 326, 918 
23. 703. 202 


1,061,482 


1936 


1,128,801 


1935 


646, 357 


1934. 


7, 182 1 19. 035. 620 


583, 601 











For footnotes, see p. 167. 



STATISTICS OF INCOME 167 

Footnotes for table 9 

i Unlike basic table 9, Statistics of Income for 1937, Part 1 (pp. 144-168), the 1938 data for taxable fiduciary 
returns with net income, Form 1041, and taxable and nontaxable returns for estates and trusts incorrectly 
filed on Form 1040, are not distributed by net income classes. However, the aggregate for these taxable 
fiduciary returns with net income for 1938 follows the grand total for individual returns. The nontaxable 
returns for estates and trusts with net income filed incorrectly on Form 1040 instead of Form 1041, are ex- 
cluded from this table. For 1937, these incorrectly filed nontaxable returns with net income, which num- 
bered 3,784, were tabulated as individual returns, but for 1938, these returns, which numbered only 276, are 
tabulated in this report as fiduciary returns along with nontaxable fiduciary returns with net income cor- 
rectly filed on Form 1041, and therefore are not included in this table. Data for individual returns with no 
net income are in this table for the first time. 

2 Includes Alaska. 

3 Nontaxable returns. Exemptions from normal tax and surtax exceed net income. A negligible number 
of nontaxable returns in net income classes of $6,000 and over is not tabulated separately. 

* The net income used for classification is the net income taxable to the fiduciary (item 17 on p. 1, Form 
1041, facsimile on p. 298). 

5 These historical data relate to income tax returns for individuals and for estates and trusts with net 
income. For 1937, return Form 1041 was required to be filed for estates and trusts, and for 1934 through 
1936, return Form 1040 was filed for estates and trusts. Changes in the revenue acts affecting the compara- 
bility of statistical data from income tax returns are summarized on pp. 270-279. Historical data for 
1927 through 1933 are presented in basic table 9, Statistics of Income for 1937, Part 1, pp. 144-166. 

e Deficit. 

' Net income less deficit. 

• Returns with net long-term capital loss on which the tax, computed on net income before the deduction 
of net long-term capital loss, exceeds 30 percent of the net long-term capital loss. 

> Revised. See Statistics of Income for 1935, Part 1, p. 31, note 6. 



BASIC TABLES 10-13 



FIDUCIARY INCOME TAX RETURNS WITH NET 
INCOME AND WITH NO NET INCOME 



1 For summary of content of each table, see text page 8. 

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i i I I i I I I i I i I I CM-^l 

' 1 I I I 1 I i i 1 I I I i , iy> 


Normal 

tax (item 

8, Sch. 

E, Form 

1041) 

(10) 


iii iii i i i \n *-4 

i i i i i i i i i i i i i i i i i i i i lOtO 

1 i i i i ' ' i ' 1 1 1 1 • 1 1 1 1 1 1 1 HOrt 

'I' !t-.*o 

II 1 1 1 I l 1 l ten 


Personal 
exemp- 
tion 2 

(9) 


i i i i i i i i i i i i i ! i ! ! ! i loo 

' 1 ' ■ I I i I I i I I I OO 

i i i i i i i i i n« 

i • ' i i ' i -* CO 

i <& 


Ordinary 
net income 
(col. 6-7) 
(item 3, 
Sch. E, 
Form 1041) 

(8) 


ii i i i i i i ! i it»e» 

i i i i i i i i i i i i i iiii noes 

1 I I I I ' I ' I 1 I i i lOO O) 

i I I 1 I .OOQ 

i i i i i oocS 

1 1 1 1 1 1 1 IHN 

I 1 I 1 I 1 1 I 1 1 1 1 I 1 1 ^ 


Net long- 
term capi- 
tal gain 
(item 7 (6), 
p. 1, Form 
1041) 

(7) 


i i i i i i i i i i i i ii ion 

ii ii i I I i MO 

i i i i i ' i i ' i i ' ' ii itOCO 

• i i i i i i nei 

■ i i i ' i i i i • i i i i ii .«e-,-i 


Net in- 
come ' 

(6) 


$192, 487 
272, 645 


Number 
of returns 

(5) 

4 
5 


Alternative 
tax (col. 
12+22) 

(1) 


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1 i 1 1 i 1 i i 1 .005 

I I 1 I 1 1 I I I I I I i I 1 1 1 1 1 1 1 100 iH 

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■ i i i i i i i <ii t^ io 

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Net in- 
come • 
(col. 6+16) 

(3) 


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I i I I I I i I I I i i I KM O 

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1 1 1 1 1 1 1 1 1 1 J 1 I 1 1 1 1 1 1 1 1 1 1 I 1 1 IHB 
I i I i i i i I i i I i i i i I I I iNO 

II 1 1 1 1 1 1 1 1 ■■* t» 

1 1 II 1 I» 


Number 

of returns 

(col. 5+ 

15) 

(2) 

9 
13 






Net income ' classes 
(Thousands of dollars) 

(1) 


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Alternative 
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Normal 
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(20) 














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Ordinary 

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(18) 














Net long- 
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Net 
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Number 
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BASIC TABLES 14-16 



WHOLLY AND PARTIALLY 
TAX-EXEMPT GOVERNMENT OBLIGATIONS 

AMOUNT OWNED AND INTEREST RECEIVED 

INDIVIDUAL AND FIDUCIARY INCOME 
TAX RETURNS 



1 For summary of content of each table, see text page 8. 

195 



STATISTICS OF INCOME 



197 



Table 14. — Individual returns ' with net income of $5,000 and over and with wholly 
and -partially tax-exempt Government obligations {excluding fiduciary returns), 
1938, by net income classes and by each type of obligation: amount owned and 
interest received 

[Net income classes and money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating data, see pp. 55-56] 





Amount owned at end of year 




Total 

(2) 


Wholly tax-exempt obligations 


Partially tax-exempt obliga- 
tions 


Net income classes 
(1) 


Total 
(3) 


Obligations 
of States 
and Terri- 
tories, or 
political 
subdivi- 
sions there- 
of, and 
United 
States 
possessions 

W 


Obliga- 
tions 
issued 
under 

Federal 

Farm 

Loan Act 

(5) 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certifi- 
cates of 
indebted- 
ness J 

(6) 


Total 
(7) 


United 
States 
savings 
bonds 
and 
Treasury 
bonds 

(8) 


Obliga- 
tions 
of certain 

instru- 
mentali- 
ties of the 

United 

States 3 

(9) 


5 under 6.- 


211,075 
198, 690 
154, 453 
146, 960 
141, 032 
143, 974 
136, 958 
112, 728 
105. 402 
95, 629 
451.940 
325, 669 
237, 071 
430, 653 
256, 732 
175. 719 
141,185 
98, 408 
94, 095 
75, 540 
254, 296 
138, 341 
143, 770 
4S, 419 
87, 347 
44, 686 
73,728 
87, 181 
20, 870 
15, 253 
2,834 
122, 245 


102, 461 

109, 723 

81, 229 

81, 605 

81, 789 

89, 955 

92, 194 

70, 696 

67, 259 

62, 0^5 

311.342 

237. 451 

170, 895 

342, 247 

210, 694 

149, 675 

119,325 

83. 971 

83, 059 

70. 935 
227, 849 
122, 422 
137,881 

46, 708 
83, 053 
44, 133 

71, 837 
85, 501 
20, 855 
15. 206 

2,299 
122, 245 


75, 992 
86, 409 

61, 309 
59, 859 
60, 634 
68, 180 
71, 761 
56, 143 
51. 160 
43, 143 

240, 995 
175,210 
130, 217 
247, 297 

157, 492 
110,406 

84, 848 
59, 235 
64, 557 
54, 461 

158, 923 
70, 876 

113,370 
33,095 

62, 652 
36, 487 
41.374 
34, 956 
17, 742 

8,220 

2,057 

27,348 


10, 596 

10, 384 

7,257 

7,345 

7,808 

8.897 

7,207 

4,712 

5,323 

6,142 

24, 330 

24, 017 

16, 487 

23,543 

14, 377 

12, 067 

8,719 

6,087 

4,702 

4, 526 

14, 791 

9,781 

2,570 

1,454 

3,938 

1,132 

5,027 

2,326 

201 

360 


15, 874 
12,930 

12, 664 
14,401 

13, 347 

12, 878 

13, 226 
9,842 

10, 777 

12, 750 
46,016 
38, 224 
24, 190 
71,407 
38, 824 
27, 201 
25, 758 
18, 649 

13, 800 
11,948 
54, 135 
41,765 
21,941 
12, 159 

16, 463 
6,514 

25, 435 

48,219 

2,911 

6,627 

242 

94, 897 


108, 614 
88, 967 
73, 224 

65, 355 
59, 243 
54, 019 
44, 764 
42, 031 
38, 143 
33, 594 

140, 598 
88, 218 

66, 176 
88, 406 
46, 038 
26, 044 
21, 860 

14, 438 
11,036 

4,605 
26, 447 

15, 919 
5,888 
1,710 
4,294 

553 

1,892 

1,680 

15 

47 

534 


97, 859 

79, 945 
64, 858 

58, 955 
53, 466 
48, 960 
40, 209 
37, 893 
34, 265 
30, 005 

127, 232 
80; 024 

59, 927 

80, 010 
42, 369 
24, 330 
20, 840 
13, 392 

9,784 

3,952 

23, 950 

12, 754 

5,063 

1,696 

3,879 

418 

1,761 

1,644 

10 

47 

253 


10, 755 

9,022 

8,366 

6,400 

5, 777 

5,059 

4,555 

4,139 

3,878 

3,588 

13, 366 

8,194 

6,249 

8,396 

3,669 

1,715 

1,020 

1,045 

1,252 

653 

2,498 

3,165 

825 

14 

415 

135 

131 

36 

5 


6 under 7 


7under8... . 


8 under 9 ... 


9 under 10 . 


10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70... ... 

70 under 80 

80 under 90 

90 under 100 
100 under 150 . 
150 under 200.. 
200 under 250 
250 under 300 
300 under 400 

400 under 500 

600 under 750 
750 under 1,000. 
1,000 under 1,500. 
1,500 under 2,000... 


2,000 under 3,000.. 


281 


3,000 under 4,000 . 






4,000 under 5,000 .. 










5,000 and over 


20, 621 


19, 636 


19, 636 






985 


310 


675 










Total 


4, 793. 503 


3, 618, 167 


2, 586, 045 


256, 106 


776, 016 


1, 175, 336 


1, 060, 059 


115,278 



For footnotes, see p. 198. 



198 



STATISTICS OF INCOME 



Table 14. — Individual returns 1 with net income of $5,000 and over and with wholly 
and partially tax-exempt Government obligations (excluding fiduciary returns), 
1938, by net income classes and by each type of obligation: amount owned and 
interest received — Continued 

[Net income classes and money figures in thousands of dollars] 





Interest received or accrued during the year] 






Wholly tax-exempt obligations 


Partially tax-exempt obli- 
gations 






Obligations 












Net income classes 


Total 


Total 


of States 
and Terri- 
tories, or 
political 
subdivi- 
sions there- 
of, and 
United 
States 
possessions 


Obliga- 
tions 
issued 
under 
Federal 
Farm 
Loan Act 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certificates 
of indebt- 
edness 2 


Total 


United 
States 
savings 
bonds 
and 
Treasury 
bonds i 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of the 
United 
States « 


(1) 


(10) 


(ID 


(12) 


(13) 


(14) 


(15) 


(16) 


(17) 


5 under 6 


8,905 

8,521 


5,280 
5,267 


4,101 
4,320 


536 

436 


644 
511 


3, 625 
3,254 


3,122 

2,865 


503 


6 under 7 


389 


7 under8... 


7,162 


4,419 


3,498 


357 


563 


2, 743 


2,383 


360 


8 under 9 


6,775 


4,458 


3,639 


336 


484 


2,317 


2,028 


289 


9 under 10. 


6,767 


4,345 


3, 446 


359 


540 


2,422 


2, 126 


296 


lOunder 11 


6,678 


4,615 


3,728 


369 


518 


2,063 


1,854 


210 


11 under 12 


6,745 


4,832 


3,981 


327 


523 


1, 913 


1,574 


339 


12 under 13 


5,451 


3,814 


3, 121 


249 


445 


1,637 


1,446 


190 


13 under 14 


5,159 


3,727 


3,155 


221 


351 


1,431 


1,252 


180 


14 under 15 


4,908 


3,453 


2,568 


283 


602 


1,455 


1,309 


146 


15 under 20 


20, 830 


15, 560 


12, 987 


994 


1,579 


5, 270 


4,664 


606 


20 under 25 


15, 828 


12, 393 


10, 150 


802 


1,440 


3,435 


3,076 


359 


25 under 30 


12, 122 


9,647 


7,886 


686 


1,075 


2,475 


2,167 


J08 


30 under 40 


20, 524 


17, 141 


13, 563 


1,130 


2,448 


3,383 


3,042 


142 


40 under 50 


12, 208 


10, 507 


8,638 


796 


1,073 


1,700 


1,553 


148 


50 under 60 


8,216 


7,300 


5,940 


502 


858 


916 


815 


101 


60 under 70.. 


6,280 


5, 535 


4,750 


293 


492 


745 


697 


48 


70 under 80 


4,653 


4,202 


3,437 


270 


495 


451 


422 


29 


80 under 90 


4,066 


3,722 


3, 157 


205 


360 


344 


323 


21 


90 under 100 


3,446 


3,175 


2, 513 


420 


242 


271 


229 


43 


100 under 150 


12,763 


11,851 


9,655 


728 


1,468 


912 


818 


94 


160 under 200 


5,981 


5,543 


4,185 


519 


839 


438 


355 


83 


200 under 250 


6,582 


6,362 


5, 589 


234 


539 


220 


191 


28 


250 under 300 


1,806 


1,688 


1,404 


54 


231 


117 


116 


1 


300 under 400 


4, 661 


4,463 


3,742 


128 


593 


198 


189 


9 


400 under 500 


1,965 


1,952 


1,785 


46 


121 


14 


14 


(0) 


500 under 750 


3,255 


3,194 


2,327 


308 


559 


61 


57 


4 


750 under 1,000... 


2,913 


2,889 


1,975 


39 


875 


24 


23 


1 


1,000 under 1,500... 


1,651 


1,649 


1, 520 


31 


98 


2 


1 


(«; 


1,500 under 2,000... 


707 


705 


524 


15 


166 


2 


2 


i 


2,000 under 3,000... 


417 


415 


341 


44 


30 


2 


2 


(•) 


3,000 under 4,000 


2,852 


2,852 


1,171 




1,681 








4,000 under 5,000 














6,000 and over. 


208 


203 


203 






5 


4 


i 










Total 


221, 006 


177, 159 


142, 998 


11,719 


22,442 


43, 846 


38, 717 


5,130 



1 Unlike basic table 14 in Statistics of Income for 1937, Part 1 (pp. 181-182), excludes the following returns 
with net income of $5,000 and over taxable to the fiduciary: taxable returns, Form 1041, and taxable returns 
for estates and trusts incorrectly filed on Form 1040 instead of Form 1041. 

2 Includes other obligations of the United States issued on or before Sept. 1, 1917. 

3 Obligations of instrumentalities of the United States other than obligations issued under Federal Farm 
Loan Act, or such act as amended. 

4 Includes interest received on a principal amount not in excess of $5,000 which is wholly exempt from income 
taxes (see line (e), column 3, Schedule B on p. 2, Form 1040, facsimile on p. 291). The amount of such inter- 
est received on a principal amount in excess of exemption of $5,000, which is reDorted on p. 1 of the return for 
tax computation, is tabulated in "Taxable interest received on partially tax-exempt Government obligations" 
in the text tables on pp. 25 and 28-33 and in basic tables 7 and 7-A on pp. 123-138, respectively. 

8 Interest received on obligations of instrumentalities of the United States other than obligations issued 
under the Federal Farm Loan Act, or such act as amended (see line (f), column 3, Schedule B on p. 2, Form 
1040, facsimile on p. 291). The amount of such interest, which is reported on p. 1 of the return for tax compu- 
tation, is tabulated in "Taxable interest received on partially tax-exempt Government obligations" in the 
text tables on pp. 25 and 28-33, and in basic tables 7 and 7-A on pp. 123-138, respectively. 

• Less than $500. 



STATISTICS OF INCOME 



199 



Table 15. — Fiduciary returns with net income showing a balance income of $5,000 
and over l and with wholly and partially tax-exempt Government obligations, by 
balance income 2 classes, by taxable and nontaxable returns, and by each type of 
obligation: amount owned and interest received 

[Balance income classes and money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating data, see pp. 55-56) 





Amount owned at end of year 






Wholly tax-exempt obligations 


Partially tax-exempt 
obligations 


Balance income * 
classes 

(1) 


Total 

(2) 


Total 

(3; 


Obligations 
of States and 

Territories, 

or political 
subdivisions 
thereof, and 
United States 

possessions 

(4) 


Obliga- 
tions 
issued 
under 
Federal 
Farm 
Loan 
Act 

(5) 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certifi- 
cates of 
indebted- 
ness 3 

(6) 


Total 

(7) 


United 
States 
savings 
bonds 
and 
Treasury 
bonds 

(8) 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of the 
United 
States « 

(9) 


5 under 10 ' 


29, 459 
216,816 


16, 191 
155. 444 


12, 990 

114,270 

9,629 

123,546 

4,140 

55,028 

6,125 

153, 971 

5,490 

87, 934 

906 


1,486 

9,233 

1,330 

11,706 

688 

6,615 

858 

10, 930 

180 

6,061 

2,228 

3,922 


1,715 
31,941 

1,400 

25, 731 

866 

30, 807 

625 

48,111 

3,126 
34, 932 


13, 269 
61, 373 

9,116 
61, 263 

3,373 
18, 251 

2,598 

50, 960 

910 

12, 945 

8 

9,547 


11,322 

53, 434 
7,908 

54, 272 
2,943 

16, 752 

2,041 

44, 330 

880 

11,379 

6 

8,555 


1,947 
7,939 


10 under 20' 

10 under 20 

20 under 25' 

20 under 25 

25 under 50' 

25 under 50 

50 under 100' 

50 under 100 

100 under 250 ' 


21,474 1 12,359 

222,246 i 160,983 

9,067 5,694 

110,701 ; 92,450 

10,206 ' 7,608 

263,972 213,012 

9,705 • 8,795 

141, 872 128, 927 

3, 142 '' 3, 134 


1,208 

6, 991 

430 

1,499 

557 

6,629 

30 

1,566 

2 


100 under 250 
250 under 50(1 ' .. 


98,164 88,617 : 68,540 
47 47 47 


16, 155 


992 


250 under 500 
500 under 1,000 '.. 


76,677 i 74,367 


57, 901 


6,681 


9,784 


2,311 


2,269 


42 


500 under 1,000 

1,000 and over ' 


44, 175 


42, 910 


31, 688 


4,092 


7,130 


1,265 


340 


925 


1,000 and over 


53, 699 


53, 384 


46, 022 


866 


6,496 


315 


82 


233 


Nontaxable re- 
turns ' 

Taxable returns. .. 


83, 100 
1, 228, 322 


53, 827 
1, 010. 093 


39, 326 

738, 901 


6,769 
60, 105 


7, 731 
211,088 


29, 273 
218, 229 


25,099 
191, 413 


4,174 
26,816 


Total- 


1,311,422 


1,063,920 


778, 227 


66, 875 


218, 819 


247, 502 


216, 512 


30, 990 



For footn >tes, see p. 200. 



200 



STATISTICS OF INCOME 



Table 15. — Fiduciary returns with net income showing a balance income of $5,000 
and over* and with wholly and -partially tax-exempt Government obligations, by 
balance income 2 classes, by taxable and nontaxable returns, and by each type of 
obligation: amount owned and interest received — Continued 

[Balance income classes and money figures in thousands of dollars] 





Interest received or accrued during the year 




Total 

(10) 


Wholly tax-exempt obligations 


Partially tax-exempt 
obligations 


Balance income 2 
classes 

(1) 


Total 

(11) 


Obligations 
of States and 
Territories, 
or political 
subdivisions 
thereof, and 
United States 
possessions 

(12) 


Obliga- 
tions 
issued 
under 
Federal 
Farm 
Loan Act 

(13) 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certifi- 
cates of 
indebted- 
ness J 

(14) 


Total 

(15) 


United 
States 
savings 
bonds and 
Treasury 
bonds 5 

(16) 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of the 
United 
States « 

(17) 


5 under 10'. 


1,679 

9,688 

1,259 

11,356 

512 

4,732 

561 

12.692 

366 

6,788 

136 

4,994 

2 

3,623 


1,060 
7,374 

767 
9, 104 

364 
4,093 

396 
10, 698 

337 
6,215 

134 

4.356 

2 

3,553 


891 
5, 995 

638 
7,703 

231 
3,153 

337 
9,014 

255 

5,080 

64 

3,615 

2 

2,983 


96 
444 

67 
526 

45 
283 

33 
449 

15 
260 

66 
227 


73 
936 

61 
875 

88 
656 

26 
1,236 

66 

874 

4 

514 


619 
2,314 

492 
2, 252 

148 

639 

164 

1,994 

29 

573 
1 

638 


518 
1,930 

421 
1,915 

133 

552 

141 

1,715 

24 

493 
( 8 ) 

584 


101 
384 


10 under 20 ; 

lOunder 20. 

20 under 25 ? 

20 under 25 

25 under 50 '., 

25 under 50.. 

50 under 100 " 

50under 100 

100 under 250 ' 

100 under 250 

•250 under 500 ' 


71 

337 

15 

87 

23 

279 

4 

80 

1 

53 


250 under 500 

500 under 1,000 ". 


253 


316 


70 


66 


5 


500 under 1,000 

1,000 and over 7 


1,950 


1,912 


1,615 


123 


174 


39 


11 


28 


1,000 and over 


2,069 


2.069 


1,712 


25 


332 


1 1 


(*) 


Nontaxable re- 
turns ' 

Taxable returns. .. 


4,514 
57, 892 


3,060 
49. 372 


2.419 
40, 870 


322 
2,590 


319 
5, 913 


1,453 1,238 
8,520 i 7,267 


216 
1,252 


Total. -. 


62, 405 


52. 433 


43, 289 


2,912 


6,232 


9,973 


8,505 


1,468 



i Consists of (1) returns with net income taxable to the fiduciary (item 17 on p. 1, Form 1041, facsimile 
on p. 298) which show balance income of $5,000 and over, (2) returns for estates and trusts incorrectly filed 
on Form 1040 instead of 1041 which show the characteristics in (1) above after an adjustment was made 
whereby the "Amount distributable to beneficiaries" (if any) was removed from "Other deductions" and 
"Total deductions," and "Balance income" was computed, and (3) a small number of returns for estates 
and trusts incorrectly filed on Form 1040 having net income of $5,000 and over taxable to fiduciary, for which 
no adjustment was made. This latter category is classified in column 1 by size of net income taxable to 
fiduciary because on these returns the "Amount distributable to beneficiaries" is negligible. 

2 Balance income (item 15 on p. 1, Form 1041, facsimile on p. 298) is the net income before distribution 
to beneficiaries and is equal to total income less total deductions (items 10 and 14, respectively, on p. 1, 
Form 1041. facsimile on p. 298). For balance income on returns incorrectly filed on Form 1041, see note 1. 

3 Includes other obligations of the United States issued on or before Sept. 1, 1917. 

4 Obligations of instrumentalities of the United States other than obligations issued under Federal Farm 
Loan Act, or such act as amended. 

s Includes interest received on a principal amount not in excess of $5,000 which is wholly exempt from 
income taxes (see line (c). column 3, Schedule B on p. 2, Form 1041, facsimile on p. 299). The amount of such 
interest received on a principal amount in excess of exemption of $5,000, which is reported on p. 1 of return 
for tax computation, is tabulated in "Taxable interest received on partially tax-exempt Government obli- 
gations" in basic table 12 on pp. 1S7-189. 

6 Interest received on obligations of instrumentalities of the United States other than obligations issued 
under the Federal Farm Loan Act, or such act as amended (see line ((), column 3, Schedule B on p. 2, 
Form 1041, facsimile on p. 299). The amount of such interest, which is reported on p. 1 of the return for 
tax computation, is tabulated in "Taxable interest received on partially tax-exempt Government obliga- 
tions" in basic table 12 on pp. 187-189. 

7 Nontaxable returns. Exemptions from normal tax and surtax exceed net income taxable to fiduciary 
(item 17 on p. 1, Form 1041, facsimile on p. 298). 

8 Less than $500. 



STATISTICS OF INCOME 



201 



Table 16. — Fiduciary returns with net income showing a balance income of $5,000 
and over i and with wholly and partially tax-exempt Government obligations, 1988, 
by net income 2 classes, by taxable and nontaxable returns, and by each type of 
obligation: amount owned and interest received 

[Net income classes and money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating data, see pp. 55-56] 





Amount owned at end of year 




Total 


Wholly tax-exempt obligations 


Partially tax-exem 
tions 


pt obliga- 


Net income 2 
classes 


Total 


Obligations 
of States and 
Territories, 
or political 
subdivisions 


Obliga- 
tions 

issued 
under 

Federal 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certifi- 
cates of 
indebt- 
edness 3 


Total 


United 
States 
savings 
bonds 
and 
Treasury 
bonds 


Obliga- 
tions of 
certain 
instru- 
mentali- 








thereof, and 

United States 

possessions 


Farm 
Loan 
Act 




ties of the 
United 

States < 


(1) 


(2) 


(3) 


(4) 


(5) 


(6) 


(7) 


(8) 


(9) 


Under 5' 


82, 623 


53, 827 


39, 320 


6,769 


7,731 


28, 796 


24, 623 


4,174 


Under 5 


568, 820 


454, 772 


332, 260 


31,201 


91,311 


114,048 


99, 510 


14, 538 




477 
53, 605 










477 
12, 632 


477 
11,739 




5 under 6 


40, 972 


31,681 


1,790 


7,502 


894 


6 under 7_„ _ 


42, 228 


33,211 


24. 559 


1.761 


6,891 


9,017 


8,065 


953 


7 under 8 . 


39, 324 
33, 364 
26, 985 
11,424 


32, 146 
27, 781 
22. 124 
8,177 


25. 234 
22,251 

15. 420 

7. 058 


1. 559 

582 
811 
264 


5. 353 
4.94S 
5,893 

855 


7,178 

5. 582 
4. Mil 
3,247 


6,526 
5, 201 
4,671 
3,141 


651 




382 


■9 under 10. .. 


190 


10 under 11 


106 


11 under 12 


13. 034 


9,847 


7. 899 


678 


1,270 


3,187 


3. 039 


148 


12 under 13 


20. 835 


16, 623 


14.463 


733 


1.426 


4.212 


3, 879 


333 


13 under 14.. . . . 


7,649 


5.388 


3, 080 


488 


1,821 


2.260 


1,973 


287 


14 under 15 .. 


28. 409 


26. 129 


21,291 


608 


4, 230 


2,280 


1,785 


495 


15 under 20 


55, 161 


43. 072 


31,844 


2,241 


8, 9S7 


12.089 


9, 645 


2,444 


20 under 25 


40, 097 


34, 075 


17.400 


872 


15.802 


6, 023 


5,591 


431 


25 under 30 


47. 789 


36. 703 


22, 422 


1,461 


12, 821 


11.085 


8, 384 


2,701 


Sounder 40 


30, 395 


23, 796 


13, 510 


1.610 


8.675 


6,599 


0,291 


308 


40 under 50 


25,419 


19. 980 


15, 175 


1, 573 


3, 232 


5,438 


4.085 


1,353 


50 under 60 


28,701 


26, 084 


19. 253 


869 


5. 962 


2.617 


2, 563 


54 


60 under 70 


13. 686 


12, 222 


9,262 


1,061 


1,896 


1,463 


1,372 


91 


70 under 80 


2.138 


1,864 


1, 522 


16 


326 


274 


254 


20 


80 under 90 


15, 778 


14.612 


9. 814 


231 


4. 567 


1. 166 


1,028 


138 


90 under 100 


6,748 


6.491 


5, 674 


370 


447 


258 


222 


36 


100 under 150 


27, 679 


27. 299 


] 4. 222 


7, 155 


5,922 


381 


381 




150 under 200 


15.347 


14.771 


12.043 


677 


2,051 


576 


572 


4 


200 under 250 


1 514 


1,495 


205 




1,290 


19 


19 




250 under 300 


5.660 


5,067 


3. 624 


100 


1.343 


593 


568 


25 


300 under 400 


15 791 


15 663 


13 369 


725 


1 569 


128 


128 




400 under 500 


12 594 


11 894 


11.230 




664 


700 


700 




500 under 750 


8 651 


8 651 


7 374 


666 


till 








750 under 1,000.... 
1,000 under 1 500 


25 044 


25 044 


24 090 




954 








1 056 


1 050 


27 




1,023 


6 


6 




1,500 under 2,000.. 
2,000 under 3,000.. 


2 528 


2 528 


1 0S2 




1,446 








872 


563 


563 






309 


76 


233 








































































Nontaxable re- 


















turns 7 . 


83. 100 


53, 827 


39. 326 


6,769 


7,731 


29. 273 


25, 099 


4,174 


Taxable returns 


1.228.322 


1. 010, 093 


738, 901 


60, 105 


211.088 218.229 


191.413 


26, 816 


Total 


1.311,422 


1,063.920 


778, 227 


66, 875 


218.819 


247. 502 


216, 512 


30,990 



For footnotes, see p. 203. 



202 



STATISTICS OF INCOME 



Table 16. — Fiduciary returns with net income showing a balance income of $5,000 
and over l and with wholly and partially tax-exempt Government obligations, 1938, 
by net income 2 classes, by taxable and nontaxable returns, and by each type of 
obligation: amount owned and interest received — Continued 

[Net income classes and money figures in thousands of dollars] 









Interest received or accrued during the year 








Total 

(10) 


Wholly tax-exempt obligations 


Partially tax-exempt obliga- 
tions 


Net income » 
classes 

(1) 


Total 

(ID 


Obligations 
of States and 

Territories, 

or political 
subdivisions 

thereof, and 
United States 

possessions 

(12) 


Obliga- 
tions 

issued 
under 

Federal 
Farm 
Loan 
Act 

(13) 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certifi- 
cates of 
indebt- 
edness 3 

(14) 


Total 
(15) 


United 
States 
savings 
bonds 
and 
Treasury 
bonds 5 

(16) 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of the 
United 
States e 

(17) 




4,503 

27, 871 

10 

2,450 

1,767 

1,835 

1, 521 

1,046 

578 

874 

913 

343 

1,083 

2,610 

1,621 

1,869 

1,786 

1,530 

1,491 

478 

99 

605 

402 

1, 259 

513 

73 

234 

652 

556 

879 

505 

16 

33 

401 


3,060 
23, 544 


2,419 
19, 641 


322 
1,368 


319 
2,535 


1,443 
4,328 

10 
450 
304 
276 
258 
159 
113 
144 
133 

75 

79 
484 
272 
411 
405 
188 
275 

52 

29 

19 
26 
2 
13 
( 8 ) 

9 
( 8 ) 


1,227 
3,540 

10 
404 
267 
251 
240 
152 
104 
136 
120 

66 

64 
385 
257 
320 
392 
140 
274 

49 

25 
4 

19 
26 
2 
13 
( 8 ) 

8 
( s ) 


216 




788 








2,000 

1,463 

1,559 

1,263 

887 

465 

729 

779 

268 

1,003 

2, 126 

1,349 

1,457 

1,381 

1,342 

1,216 

426 

92 

576 

396 

1,240 

487 

71 

221 

651 

547 

879 

505 

15 

33 

401 


1,733 

1,199 

1,331 

1,076 

755 

406 

637 

721 

196 

863 

1,806 

922 

1,139 

1,017 

1,103 

1,058 

347 

82 

460 

347 

834 

426 

51 

183 

534 

531 

782 

492 

3 

15 

179 


105 
89 
69 
58 
34 
19 
40 
21 
15 
17 
89 
44 
58 
38 
70 
62 
36 
( 8 ) 
11 
23 

252 
30 


162 

175 

158 

130 

98 

41 

52 

38 

56 

123 

232 

383 

260 

327 

169 

96 

43 

10 

106 

26 

154 

31 

20 

33 

101 

16 

74 

13 

13 

18 

222 


46 


6 under 7 


36 


7 under 8 


25 


8 under 9 

9 under 10 


18 


10 under 11 

11 under 12 

12 under 13. 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 


9 
9 
13 

8 

16 

99 

15 

91 

13 

48 

1 

2 

( 8 ) 

4 
o 


150 under 200 

200 under 250 


( 8 ) 


250 under 300 
300 under 400 


5 
16 

23 


( 8 ) 


400 under 500 

500 under 750 


( 8 ) 


750 under 1,000 




1,000 under 1,500... 
1,500 under 2,000 




( 8 ) 


( 8 ) 








2,000 under 3,000 




1 


( 8 ) 


( 8 ) 


3,000 under 4,000 






4,000 under 5,000 






















































Nontaxable re- 
turns 7 

Taxable returns... 


4.514 
57, 892 


3,060 
49, 372 


2,419 
40, 870 


322 
2,590 


319 
5.913 


1,453 
8,520 


1,238 

7,267 


216 
1, 252 


Total 


62. 405 


52, 433 


43,289 


2,912 ! 6.232 


9,973 


8,505 


1,468 













For footnotes, see p. 203. 



STATISTICS OF INCOME 203 

Footnotes for table 16 

i Consists of (1) returns with net income taxable to the fiduciary (item 17 on p. 1, Form 1041, facsimile on 
p. 298) which show balance income of $5,000 and over; (2) returns for estates and trusts incorrectly filed 
on Form 1040 instead of on Form 1041 which show the characteristics in (1) above after an adjustment was 
made whereby the "Amount distributable to beneficiaries" (if any) was removed from "Other deductions" 
and "Total deductions," and "Balance income" was computed; and (3) a small number of returns for 
estates and trusts incorrectly filed on Form 1040 having net incomes of $5,000 and over taxable to fiduciary, 
for which no adjustment was made. Unlike 1937, the information for taxable returns with net income of 
$5,000 and over is shown separately rather than in combination with that for individual returns with net 
income of $5,000 and over shown in basic table 14, pp. 197-198. To secure 1938 data comparable with those 
for 1937 in basic table 14, pp. 181-182, Statistics of Income for 1937, Part 1, the data in basic table 14, pp. 
197-198, must be combined with those for taxable returns with net income of $5,000 and over shown in' this 
table. 

2 The net income used for classification is the net income taxable to fiduciary (item 17 on p. 1, Form 1041 
facsimile on p. 298). 

3 Includes other obligations of the United States issued on or before Sept. 1, 1917. 

* Obligations of instrumentalities of the United States other than obligations issued under Federal Farm 
Loan Act, or such act as amended. 

5 Includes interest received on principal amount not in excess of $5,000 which is wholly exempt from in- 
come taxes (see line (e), column 3, Schedule B on p. 2, Form 1041, facsimile on p. 299). The amount of 
such interest received on a principal amount in excess of exemption of $5,000, which is reported on p. 1 of 
return for tax computation, is tabulated in "Taxable interest received on partially tax-exempt Govern- 
ment obligations" in basic table 11 on pp. 180-186. 

« Interest received on obligations of instrumentalities of the United States other than obligations issued 
under the Federal Farm Loan Act, or such act as amended (see line (J) , column 3, Schedule B on p. 2, Form 
1041, facsimile on p. 299). The amount of such interest, which is reported on p. 1 of the return for tax 
computation, is tabulated in "Taxable interest received on partially tax-exempt Government obligations" 
in basic table 11 on pp. 180-186. 

7 Nontaxable returns. Exemptions from normal tax and surtax exceed net income taxable to fiduciary 
(item 17 on p. 1, Form 1041. facsimile on p. 298). 

« Less than $500. 



1!0«»429 — 41 14 



INDUSTRIAL GROUPS FOR BUSINESSES 

OF SOLE PROPRIETORS, COMPARISON 

OF CLASSIFICATIONS FOR 

1938 AND 1937 



205 



STATISTICS OF INCOME 



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ESTATE TAX RETURNS 

AND 

GIFT TAX RETURNS 



213 



ESTATE TAX RETURNS 

The estate tax is imposed upon the transfer of the entire statutory 
net estate of a decedent rather than upon any particular legacy, de- 
vise, or distributive share. The relationship of the beneficiaries to 
the decedent has no bearing upon the tax liability. In this report 
are tabulated data for estate tax returns filed during the calendar year 
1939, together with some historical data for returns filed in preceding 
years. 

FILING REQUIREMENTS 

Since August 31, 1935, when the Revenue Act of 1935 became 
effective, estate tax returns have been required to be filed within 15 
months after date of death. Prior to that date, returns were required 
to be filed within one year after date of death. In some circum- 
stances, further extensions of time are granted for filing. Regardless 
of when filed, returns are subject to the statutory provisions in 
effect at date of death. 

As respects the size of estate for which a return must be made, the 
statutory provisions have varied. Since enactment of the Revenue 
Act of 1935 an estate tax return has been required for a citizen or 
resident alien if the value of the gross estate at date of death exceeds 
$40,000. During the effective period of the Revenue Act of 1934 the 
exempt amount was $50,000. Earlier acts required an estate tax 
return for a resident citizen or resident alien if gross estate exceeded 
the following amounts: $50,000 under the Revenue Act of 1932, 
$100,000 under the Revenue Act of 1926, and $50,000 under prior 
Revenue Acts. For a nonresident alien a return has regularly been 
required if at date of death any part of the estate, regardless of size, 
was situated in the United States; and prior to enactment of the 
Revenue Act of 1934 this requirement applied also to nonresident 
citizens. 

SUMMARY DATA 

Of the 16,926 estate tax returns filed during 1939, 15,221 were for 
citizens and resident aliens and 1,705 were for nonresident aliens 
(including nonresident citizens who died before May 11, 1934). Of 
the 15,221 returns for citizens or resident aliens, 15,026 were filed 
under the requirements in effect since enactment of the Revenue 
Act of 1935. The remaining 195 include 13 returns filed under the 
Revenue Act of 1924 or prior Acts, 34 under the Revenue Act of 
1926, 66 under the Revenue Act of 1932, and 82 under the Revenue 
Act of 1934. (See tables 1 and 7, pages 220-223 and 256, respec- 
tively.) 

215 



216 STATISTICS OF INCOME 

The 16,926 returns filed during 1939 show gross estate of $2,767,- 
887,912, net estate of $1,558,322,205, and liability to Federal estate 
tax of $278,937,730. The 15,221 returns filed for citizens or resident 
aliens show gross estate of $2,746,142,652, of which $182,070,428 was 
reported on nontaxable returns. The 12,720 taxable returns for 
citizens or resident aliens show gross estate of $2,564,072,224, net 
estate of $1,537,974,774 (sum of (a) net estate subject only to the 
Revenue Act of 1926 or to prior Acts, and (b) net estate subject to the 
additional tax under provisions of the Revenue Act of 1932 or subse- 
quent Acts), and liability to Federal estate tax of $276,706,865. 

As compared with returns filed during the preceding calendar year, 
the total number of returns decreased 716, or 4.1 percent. Gross 
estate decreased $301,737,350, or 9.8 percent. Net estate decreased 
$186,936,599, or 10.7 percent. Total tax liability decreased $37,864,- 
012, or 12.0 percent. 

For returns filed during 1939 under the Revenue Act of 1926 or 
subsequent Acts, the credit allowed for State death taxes amounted to 
$53,111,257 and constituted 16.1 percent of total liability to Federal 
tax before allowance of credits. This amount represented a decrease 
of $6,729,728, or 11.2 percent, from the preceding year, when the corre- 
sponding credit was $59,840,985 and represented 16.0 percent of total 
liability to Federal tax before allowance of credits. 

In connection with the above data it is to be noted that the total tax 
liability and other amounts tabulated in this report are taken from 
estate tax returns as filed, and may differ from amounts finally deter- 
mined after audit by the Bureau of Internal Revenue. Moreover, the 
total tax liability tabulated does not correspond with the collections 
of taxes during 1939 for the several reasons that payment of tax lia- 
bility as reported in 1939 may be deferred until a later period, deferred 
payments on returns filed in prior years were made during 1939, and 
adjustments resulting from audit may be made within the year 1939. 

DEFINITIONS AND NEW CLASSIFICATIONS 

Gross estate. — Since enactment of the Revenue Act of 1935, the value 
of gross estate may at the election of the executor be determined either 
as of the date of the decedent's death or as of the date one year after 
death. If the second alternative is elected, however, property dis- 
tributed, sold, exchanged, or otherwise disposed of within the year 
following death must be valued as of the date of disposition. For 
decedents who died prior to the effective date of the Revenue Act of 
1935, the value of the gross estate must be determined as of the date 
of death. 

In this report, the items comprising gross estate are grouped for 
the first time under the three categories real estate, tangible personal 
property, and intangible personal property, with a total for each 
category. However, total real estate, Federal Government bonds, 



STATISTICS OF INCOME 217 

State and municipal bonds, other bonds, capital stock in corporations, 
mortgages, notes and cash, gross insurance, tax-exempt insurance, 
taxable insurance, and total gross estate are comparable with the cor- 
responding items in Statistics of Income for 1937, Part 1. 

Under the principal categories of real estate, tangible personal 
property, and intangible personal property (appearing under the 
information items at the end of the table) there are tabulated sep- 
arately for the first time the value of jointly owned property, property 
transferred during the decedent's life, property transferred under 
powers of appointment, property previously taxed, and all other 
property. The amounts shown for these items represent only that 
part of such property which must be reported for estate tax purposes. 
In the case of "Jointly owned property," it is only the value of the 
decedent's interest in such property which is reported in gross estate. 
The item "Transfers during decedent's life" consists of gifts made in 
contemplation of death and gilts made to take effect at or after 
death. The item "Transfers under powers of appointment" consists 
of property over which the decedent had been given general power 
of appointment and not property over which the decedent gave a 
power of appointment. "Property previously taxed" consists of 
property previously subjected to the Federal estate or gift taxes 
within the five years next preceding the date of the decedent's death 
(or property acquired in exchange therefor). 

Net estate. — The value of the net estate is determined by subtracting 
from the gross estate (1) the sum of the deductions allowed under 
the statutory provisions in effect at the date of the decedent's death 
and (2) the specific exemption allowed. In tabulating returns for 
decedents dying after the effective date of the Revenue Act of 1932, 
the net estate under the 1926 Act and the net estate for additional 
tax under the 1932 Act, or that Act as amended, are both shown. 
The deductions and the specific exemption shown for such returns 
are those allowed under the additional tax provisions of the Revenue 
Act of 1932, or that Act as amended. 

Tax and tax credits. — The estate of a decedent who died subsequent 
to the effective date of the Revenue Act of 1932 (5:00 p. m., June 6, 
1932) is subject to two estate taxes — a basic tax and an additional 
tax. Until 1939, the basic tax was levied under the Revenue Act 
of 1926 or that Act as amended, and the additional tax was levied 
under the Revenue Act of 1932 or that Act as amended. The In- 
ternal Revenue Code, approved February 10, 1939, consolidated the 
provisions of these prior Acts so that the estates of decedents dying 
subsequent to its enactment are subject to two taxes levied under 
the Internal Revenue Code or under the Code as amended. No 
change of a general character affecting tax liability of returns filed 
during 1939 has been made in the estate tax law since the enactment 
of the Revenue Act of 1935. 



218 STATISTICS OF INCOME 

The basic tax and the additional tax may both be reduced by credits 
for certain taxes paid on the estate. From the basic tax may be de- 
ducted the amount of any estate, inheritance, legacy, or succession 
tax paid to a State or Territory or the District of Columbia (or to any 
possession of the United States if death occurred after enactment of 
the Revenue Act of 1939), such credit not to exceed, however, 80 per- 
cent of the basic tax minus the gift tax credit allowed against the basic 
tax. The gift tax credit which may be deducted from the basic estate 
tax is the total gift tax imposed by the Revenue Act of 1924 on property 
required to be included in gross estate and that portion of the gift tax 
imposed by the Revenue Act of 1932 which does not exceed the pro- 
portion of the basic estate tax that the value of included gift bears to 
gross estate. A gift tax credit may also be deducted from the additional 
tax for gift taxes paid under the Revenue Act of 1932, provided both 
that the credit must not form a larger proportion of the total addi- 
tional tax than the included gift forms of the gross estate and that it 
does not exceed the balance of the gift tax not already credited in 
connection with the basic estate tax. No credit is allowed against 
the additional tax for State death taxes, or for gift taxes paid under 
the 1924 Act. The total tax liability is the sum of the basic tax and 
the additional tax after deduction of tax credits. 

Tax rates, tax credits, and specific exemptions under the Revenue 
Acts of 1916 through 1939 are summarized on pages 280-281 of this 
report. 

CONTENT OF ESTATE TAX TABLES 

Tables 1 through 6 contain data from returns of citizens and resident 
aliens, excluding however nonresident citizens who died prior to 
May 11, 1934. Tables 2 through 4 are further restricted to returns 
of citizens and resident aliens dying on or after the effective date of 
the Revenue Act of 1935. The historical summary, table 7, contains 
data from all the estate tax returns filed. 

Table 1 is a summary of the returns filed during 1939 for citizens 
and resident aliens. It shows the number of returns, items of gross 
estate and deductions, net estate, tax liability, and certain informa- 
tion items, classified by the Revenue Acts under which the returns 
were filed and by taxable status. 

For taxable returns filed during 1939 of decedents who died on or 
after the effective date of the Revenue Act of 1935 (August 31, 1935), 
table 2 shows the same data classified by size of net estate. The net 
estate classification is based on the amount of the net estate for pur- 
poses of the additional tax before deduction of the specific exemption. 



STATISTICS OF INCOME 219 

This "Net estate before exemption" basis, adopted for returns filed 
during 1938, provides a classification the year-to-year comparability 
of which will not be affected by changes in the amount of the specific 
exemption. 

In Statistics of Income for 1936 and prior years, estate tax returns 
filed under the Revenue Act of 1932 or subsequent Acts are classified 
by size of net estate as determined for purposes of the basic tax under 
the Revenue Act of 1926; i. e., after deduction of specific exemption of 
$100,000. On the new basis of classification, therefore, returns filed 
during 1938 and 1939 are classified, in general, as $100,000 larger than 
under the former method. Table 2, in order to facilitate historical 
comparison, shows the effect of this shift at the boundaries of classes 
previously employed. 

Distribution by size of gross estate of returns filed during 1939 for 
decedents who died on or after the effective date of the Revenue Act of 
1935 is shown in tables 3 and 4, which relate respectively to taxable 
and nontaxable returns and show the items of gross estate, deductions, 
etc., as do the prior tables. For purposes of this classification, gross 
estate is defined to include tax-exempt insurance; i. e., insurance not 
exceeding in the aggregate $40,000 receivable by beneficiaries other 
than the estate. 

Table 5 shows by States and Territories the number of returns filed 
during 1939 for citizens and resident aliens, subdivided as to 
taxable and nontaxable returns. For all taxable returns filed, it shows 
gross estate, net estate, total tax, and net tax; and for returns sub- 
ject to the basic tax against which the 80 percent credit for State 
death taxes is allowed, gives selected additional items. 

In table 6, the total value of real estate reported on returns filed 
during 1939 for citizens and resident aliens is distributed both by the 
State in which the return was filed and by the State in which the real 
estate is located. 

A historical summary of selected items for all estate tax returns 
filed from September 9, 1916, through December 31, 1939, is given 
in table 7. 



299429—41- 



220 



STATISTICS OF INCOME 



Table 1. — Estate tax returns filed during 1939 for citizens l and resident aliens, 

of gross estate and deduc 

[Money figures in 







All returns 




Total 


Taxable 


Non- 
taxable 


1 




15, 221 


12. 720 


2,501 




Gross estate: 
Real estate: 

Real estat e < ither than items 3-6 


? 


366, 065 

36, 622 

14,193 

1,912 

14, 695 


306, 453 

30,219 

12,498 

1,768 

14,002 


59,612 

6,403 

1,694 

143 

694 


1 




4 


Transfers during decedent's life.- .. ... 


5 


Transfers under powers of appointment... 


fi 






Total real estate 


7 


433, 487 


364, 940 


68, 547 




Tangible personal property: 

Tangible personal property other than items 9-12 


8 


33. 385 

294 

281 

17 

660 


28, 599 

236 

242 

8 

645 


4,786 

57 

39 

9 

16 


q 




10 


Transfers during decedent's life. 


11 


Transfers under powers of appointment 


1? 


Previously taxed _. _. . 




Total tangible personal property 


13 


34, 637 


29, 730 


4,907 




Intangible personal property: 

Investments in bonds and stocks: 
Federal Government bonds: 

Wholly tax-exempt 3 .__ .. 


14 


52, 337 

96, 465 

242, 537 

164, 796 


51, 851 

92, 077 

240, 804 

156,464 


487 
4,388 
1,733 
8,333 


15 


Partially tax-exempt 3 


16 


State and municipal bonds 


17 


All other bonds ... 




Total bonds 


18 


556, 135 
1,079,231 


541,195 
1,030,925 


14, 940 
48, 306 


19 


Capital stock in corporations 




Total bonds and stocks.. 


?n 


1,635,366 

423, 785 

70, 039 

148, 830 


1, 572, 120 

397, 264 

62, 252 

137, 765 


63, 246 

26, 520 
7.7S7 
11,065 


?1 


Mortgages, notes, and cash 4 .. 


?? 


Taxable insurance (58 less 59) 


23 


Other intangibles 




Total intangible personal property 


?4 


2,278,019 


2, 169, 402 


108,617 




Total gross estate.. _ 


25 


2,746,143 


2, 504, (172 


182,070 




Deductions: 

Funeral and administrative expenses 


26 


136, 028 

279, 232 

706 

10, 775 


125,354 

173, 626 

353 

9,562 


10, 674 

105, 605 

353 

1,213 


27 


Debts of decedent; mortgages and liens 


?8 


Net losses during administration.. __ 


79 


Support of dependents... 




Charitable, public, and similar bequests: 
Educational, scientific, or literary: 

Public 


30 


7,070 

44, 233 

16,104 

111,209 


3,638 
41,449 
12,300 
96, 941 


3,432 
2,784 
3,804 
14, 268 


31 


Private 


3?! 


Religious.. 


33 


Charitable and all other gifts . 




Total charitable, public, and similar bequests 

Property previously taxed, net deduction » 


34 

35 


178,616 

51,741 

612, 490 


154,328 

51,495 

511,380 


24, 288 

246 

101,110 


36 


Specific exemption 9 




Total deductions 


37 


1,269,587 


1,026,097 


243, 490 







For footnotes, see pp. 222-223. 



STATISTICS OF INCOME 



221 



classified by applicable revenue acts and by taxable status: 
tions, net estate and tax 

thousands of dollars] 



number of returns, items 



Returns filed un- 
der 1932 Act 2 as 
amended by 
1935 and subse- 
quent Acts, or 
filed under the 
Internal Reve- 
nue Code or the 
Code as amend- 
ed (death on or 
after Aus. 31, 
1935) 



Returns filed un- 
der 1932 Act • as 
amended by 
1934 Act (death 
in period Mav 
11, 1934, through 
Aug. 30, 1935) 



Taxable 



Non- 
taxable 



12, 592 2, 434 



Taxable 



46 



Non- 
taxable 



36 



Returns filed un- 
der 1932 Act » 
(death in period 
5 p. m. June 6, 
1932, through 
Mav 10, 1934) 



Taxable 



43 



Non- 
taxable 



23 



Returns filed un- 
der 1926 Act or 
that Act as 
amended (death 
in period 10:25 a. 
m. Feb. 20, 192!',, 
through 4:59 p. 
m. June 6, 1932) 



Taxable 



Non- 
taxable 



Returns filed un- 
der 1924 Act or 
prior Acts 
(death before 
10:25 a. m. Feb. 
2fi, 1920) 



Taxable 



Non- 
taxable 



302, 043 

29, 860 

11, 974 

1,766 

13, 925 



359, 568 



28, 492 

236 

240 

8 

045 



56,491 

5,700 

1,459 

143 

636 



1,108 
104 
156 



244 
42 



5 s 



1,007 
202 



724 
298 
188 



1,804 

19 

165 



529 

161 

6 



490 
34 
113 



64, 429 



2,212 



1,363 



1,209 



696 



637 



4,643 

57 

36 

9 

16 



42 



66 



(•) 



29,621 



4,761 



13 



66 



19 



37 



42 



51, 752 
91,420 
240, 731 
156, 204 



475 
4,364 
1,719 
8,238 



24 

158 

3 

67 



2 
159 
41 
102 



22 
237 

28 



50 
103 



540, 108 
1, 029. 647 



14, 796 
47, 225 



263 
539 



90 
329 



304 
407 



47 
337 



375 

287 



7 
416 



155 
45 




2, 152, 963 



62, 021 

25, 884 

7,436 

10, 589 

105, 930 



792 

1,642 

87 

603 



419 
304 
60 

258 



711 

1.514 

51 

321 



384 
184 
271 

87 



662 

3,910 

14 

1.688 



3,124 



1,041 



2,596 



926 



6,273 



422 
148 
20 
131 



200 
953 



3,285 



721 



4,445 



2, 542, 152 



175, 120 



4, 550 3, 319 



4,009 



2,173 



8,275 



1,459 



5,( 



124, 871 

172, 875 

352 

9,500 



10, 286 

100, 912 

353 

1,185 



196 
233 



191 



L30 
282 

1 
15 



122 
1,429 



112 
173 



74 
1,395 



3,638 
41,448 
12,294 
96,927 



3,432 
2,743 
3,795 
14, 222 



(•) 



(•) 



154. 307 

51,413 

503, 680 

1.017,003 



1,800 
2,779 j 3.967 



6 

24 

2. 150 



1,150 



49 

2. 600 



2,608 2,719 



SCO 
2,271 



6-11 

765 



222 



STATISTICS OF INCOME 



Table 1. — Estate tax returns filed during 19S9 for citizens l and resident aliens, 

of gross estate and deductions, net 

[Money figures in 



All returns 



Total 



Taxable 



Non- 
taxable 



40 



Net estate: 

Under 1924 Act or prior Acts .. .- 

For basic tax (under 1926 Act or Internal Revenue Code, or 

either as amended). 
For additional tax (under 1932 Act or that Act as amended or 

Internal Revenue Code). 

Basic tax, including tax under 1924 Act or prior Acts: 

Tax before tax credits 

Tax credit for gift taxes paid to the Federal Government 

Tax credit for inheritance taxes 7 

Net tax (41 less 42 and 43) 

Additional tax: 

Additional tax before tax credit 

Tax credit for gift taxes paid to the Federal Government 

Net additional tax (45 less 46) 

Total tax liability (44 plus 47) 

Information items: 

Intangible personal property: 

Intangible personal property not included in items 53-56: 

Stocks and bonds 

Mortgages, notes, and cash 4 

Taxable insurance (58 less 59) 

Other miscellaneous intangibles 

Jointly owned 

Transfers during decedent's life 

Transfers under powers of appointment 

Previously taxed 

Total intangible personal property __ 

Gross insurance. 

Tax-exempt insurance 8 



4,322 
1,104,112 

1, 528, 321 



4,322 
1, 104, 112 

1, 528, 321 



67, 490 

145 

53,111 

14, 234 



67, 490 

145 

53,111 

14,234 



262, 737 

264 

262, 473 



262, 737 

264 

262, 473 



276, 707 



1, 483, 273 
367, 006 
70, 039 
130, 854 
48, 588 
91,481 
15,628 
71,151 



1, 425, 641 
343, 200 
62, 252 
120, 799 
46, 052 
86, 592 
15,443 
69, 423 



2,278,019 



2,169,402 



161,080 
91,041 



138, 337 
76, 085 



57, 632 
23, 806 

7,787 
10, 055 

2,536 

4,889 
185 

1,727 



108,617 



22, 742 
14, 956 



i Excluding returns filed for nonresident citizens who died prior to May 11, 1934. 

2 Returns filed under the Revenue Act of 1932 or that Act as amended are subject also to applicable provi- 
sions of the Revenue Act of 1926. For statement respecting filing requirements and tax liability, see text. 

3 The interest on wholly tax-exempt Federal Government bonds is exempt from both the normal tax and 
surtax of the Federal income tax; the interest on partially tax-exempt Federal Government bonds is exempt 
only from the normal tax. United States savings bonds and Treasury bonds, of which the interest on a 
principal amount not in excess of $5,000 is wholly exempt, are included in partially tax-exempt Federal 
Government bonds. 

4 Cash of all kinds classified as intangible property. 

8 The basis for the valuation of property previously taxed is the value as finally determined in the case of 
prior decedent or donor, or the value included in gross estate of present decedent, whichever is lower. Sub- 
ject to certain conditions and limitations, the net deduction for property previously taxed is such value 
less a proportionate reduction. This reduction is the proportion of total deductions except previously taxed 
property, which previously taxed property bears to gross estate. The net deduction for property previously 
taxed tabulated for returns of decedents who died on or after 5 p. m. June 6, 1932, is the deduction computed 
for purposes of the additional tax and not the deduction computed for purposes of the basic tax. 



STATISTICS OF INCOME 



223 



classified by applicable revenue acts and by. taxable status: number of returns, items 
estate and tax — Continued 

thousands of dollars] 



Returns filed un- 
der 1932 Act 2 as 
amended by 
1935 and subse- 
quent Acts, or 
filed under the 
Internal Reve- 
nue Code or the 
Code as amend- 
ed (death on or 
after Aug. 31, 
1935) 


Returns filed un- 
der 1932 Act as 
amended by 
1934 Act (death 
in period May 
11, 1934, through 
Aug. 30, 1935) 


Returns filed un- 
der 1932 Act 
(death in period 
5 p. m. June 6, 
1932, through 
May 10, 1934) 


Returns filed un- 
der 1926 Act or 
that Act as 
amended (death 
in period 10:25 a. 
m. Feb. 26, 1926, 
through 4:59 p. 
m. June 6, 1932) 


Returns filed un- 
der 1924 Act or 
prior Acts 
(death before 
10:25 a. m. Feb. 
26, 1926) 




Taxable 


Non- 
taxable 


Taxable 


Non- 
taxable 


Taxable 


Non- 
taxable 


Taxable 


Non- 
taxable 


Taxable 


Non- 
taxable 




















4,322 




ftfl 


1, 097, 591 
1, 525, 149 




732 

1,772 




456 
1,401 




5,332 






39 














■10 


















67, 017 

145 

53. 109 

13, 763 




16 




7 

7 




222 




228 




41 












¥f, 




2 
14 














■Y\ 








222 




228 




■11 












262, 593 

263 

262, 330 




93 

1 

92 




50 
( ( ) 
50 












4fi 
















•If, 
















47 


















276, 093 




107 




57 




222 




228 




4fl 














1, 423, 668 
335, 665 
62, 093 
115,092 
45, 845 
85, 962 
15,443 
69, 195 


56, 417 
23, 260 
7,436 
9,654 
2, 522 
4,853 
185 
1,604 


665 
1,399 

87 
548 

72 
269 


419 
272 

60 

256 

7 

27 


555 
1,328 
51 
297 
125 
242 


374 
134 
271 

87 


553 

3,864 

14 

1,578 


422 

140 

20 

58 

8 


200 

943 

8 

3,285 

10 




40 




, r i0 




51 




w, 




R8 


10 


120 




R4 










55 


84 




50 


144 


73 






fift 










2, 152, 963 


105, 930 


3,124 


1,041 | 2,596 


926 


6,273 


721 


4,445 




B7 






137. 976 
75,883 


21, 953 
14, 518 


173 

86 


319 158 
259 107 


350 
79 


23 
9 


119 
100 


8 




58 




fifl 













« Specific exemption under additional tax provisions of the Internal Revenue Code and under Revenue 
Act of 1932 as amended by Revenue Act of 1935 is $40,000; under Revenue Act of 1932, or that Act as amended 
by Revenue Act of 1934, $50,000; under basic tax provisions of the Internal Revenue Code and under the 
Revenue Act of 1926, $100,000; under Revenue Act of 1924. or prior Acts, $50,000. 

' Estate, inheritance, legacy, or succession taxes paid to States, Territories, District of Columbia, or (since 
enactment of the Revenue Act of 1939) to United States possessions. 

8 Amount receivable by beneficiaries other than the estate, not to exceed in aggregate $40,000. 

8 Less than $500. 



224 



STATISTICS OF INCOME 



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c^c»CNC)cocococococococococo'*^r'^^' 



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$-~ 



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g - _ - 

H -4-3 O £* 

03 S 3m 

a c o 

H t 3 a> 



oj >,t; 

<_ c Mb 

C ^c ^ -t^ 

hEs. sT2 

"> ~ ^ s . 
t- 2 £ 7 ' 






o? 3 o 

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- -a c ^i 

" « « B 

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.2 = 

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tn a -n "^ 
fi*^ 03 ° 

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a^o °; 

*■§£ § 

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250 



STATISTICS OF INCOME 



Table 6. — Estate tax returns filed during 1989 for citizens 1 and resident aliens: 

and by situs 

[Thousands 





State in which return was filed 
(domicile of decedent at time 
of death) 


Situs of real estate 




Total 


Alabama 


Alaska 


1 
Arizona 


Arkansas 


California 


Colorado 


1 




4,064 

24 

692 

1,640 

49, 380 
3,721 
9,075 
1,521 
7,565 
7,609 
6,206 
727 
378 

32,230 
8,978 

10, 380 
7,533 
4,894 
4,059 
2,731 
6,425 

16, 280 
13,855 

3,006 

1,256 

7,869 

861 

5,241 

475 

2,137 

19, 539 

398 

64,465 

4,326 

376 

25, 464 

6,749 

3,943 

37, 675 

3,490 

2,637 

298 

3,493 

17, 485 
927 
892 

7,355 
3,677 
1,971 
6,991 
522 


3,574 


24 


5 






2 


? 








^ 






566 




28 

5 

44, 823 

22 
1 


1 

59 

142 

2,987 


4 








1,517 
1 


5 




3 




138 

1 


6 




7 










8 














q 








2 




(?) 
4 




in 




1 

105 






5 


ii 










T> 










18 
18 
212 
2 
5 
17 




13 














14 




2 




21 


29 

(») 
1 
1 


5 
14 
12 
90 


T> 




16 










17 










18 










P 




4 




4 


3 


11 
16 
10 
13 
107 
10 


( 3 ) 


70 




?1 














•>o 




7 
1 








16 

6 

1 


?3 








1 


?4 






7 


?5 




3 

( 3 ) 




( 3 ) 
63 


"ii 








3 
6 
9 


15 


7!7 








?8 












20 


•><i 












so 










1 


6 

23 




31 








29 


3 
11 
1 


v> 










33 




2 
1 




16 


5 


143 

00 

2 
44 
18 

7 
53 
43 


11 




ss 












■If, 


Ohio 


16 
1 




3 


5 
8 


2 


r r 




Rfl 










39 

40 


Pennsylvania. - 


134 




36 


17 


2 
1 


41 




14 






33 


4? 












43 


Tennessee 


15 






68 
6 




5 
2 

7 


44 




( 3 ) 


3 

45 

6 


4 1 ) 


Utah 






46 










47 




1 
1 
( 3 ) 
1 










is 










36 

( 3 ) 
74 
20 


34 

1 


49 










VI 






5 




51 










Total 














433, 487 


3,885 


24 


833 


1, 758 | 


45, 862 

1 


3,441 







For footnotes, see p. 254. 



STATISTICS OF INCOME 



251 



total reported value of real estate 2 classified by Stale in which the return was filed 
of real estate 

of dollars] 



Situs of real estate— Continued 




Connec- 
ticut 


Dela- 
ware 


District of 
Columbia 


Florida 


Georgia 


Hawaii 


Idaho 


Illinois 


Indiana 


Iowa 


Kansas 










60 






1 






















? 






10 








1 


40 


23 


1 




3 






12 

6 

1 

1^8 

( 3 ) 

15 

5,379 

73 








4 


135 






2 


3 


6 


816 


58 


200 
1 
1 


108 
45 


<; 






fi 


8,380 












9 


2 

( 3 ) 
66 


7 


1,439 












8 




5,942 








26 
273 


7 


2 
12 


9 


59 




64 
5.818 




2 


in 






1 | 








638 












1" 












360 

70 

1 


1 

28, 547 

220 

4 

72 
7 








13 


5 






165 

200 

6 
27 
44 
27 

7 

26 

198 

10 

( 3 ) 

8 


42 




414 

8,129 

2 
9 


416 

3 

9,709 

162 


113 
1 
2 
6,846 
2 
1 


14 






15 












Hi 








1 






17 












18 








5 
1 

1 






19 






78 
526 






15 






■»ll 


45 
44 
6 


15 
53 












21 




1 
3 


134 
127 


3 

26 
4 


1 

19 
46 


( 3 ) 


• )., 


13 






•>■< 










?4 


















25 








2 






91 




83 


161 


'>f, 












■'- 














( 3 ) 


16 




58 


90 


?8 














■.(, 








17 
314 








( 3 ) 
8 








■M\ 


196 




13 


1 








5 


3 


31 








3? 


833 


2 


109 


728 
43 


134 






72 

51 


s 




25 


33 






34 




















35 


7 




35 


722 

( 3 ) 


13 






33 

12 


52 




13 

71 
( 3 ) 
21 


36 




4 
3 


37 
















3H 




71 


80 
62 


580 

98 

1 


100 




44 


34 


4 


39 


16 






to 


19 














41 










1 








4? 








36 


8 












13 


12 




22 






40 


11 


1 




44 








58 




45 








8 
61 














46 






198 


6 






8 






1 


47 


( 3 ) 






32 


23 




48 






26 
61 












W 












3 


41 


4 


21 




50 














51 


























9,737 


1,580 


7,085 


9,106 


6,216 


641 


542 


30, 710 


8,867 


10. 738 


5,516 





299429—41- 



252 



STATISTICS OF INCOME 



Table 6. — Estate tax returns filed during 1939 for citizens 1 and resident aliens: 

and by situs of real 

[Thousan ds 





State in which return was 
filed (domicile of decedent 
at time of death) 


Situs of real estate— Continued 




Ken- 
tucky 


Louis- 
iana 


Maine 


Mary- 
land 


Massa- 
chusetts 


Michi- 
gan 


Minne- 
sota 


1 














86 


1 


? 














T 


















4 






( 3 ) 
3 












5 




26 




25 


31 


11 

547 

54 


228 


fi 




7 








26 


22 
35 
215 
35 


51 
15 
10 

191 
( 3 ) 


41 


8 








|) 










58 

58 

1 




10 


Florida 

Georgia 


8 
60 




8 


24 


11 




1*> 










n 


















1 1 






25 


22 


2 


124 


96 
33 


133 

10 

115 

1 


15 


Indiana -- 


11 


1fi 


9 


4 






17 












18 




4,585 










7 


IP 




3,336 


2. 207 
3 
63 


34 

5,686 
159 


5 
156 
( 3 ) 

15, 269 
13 




?n 








1 


•>l 










.... 






2 
9 


60 

12.794 

101 


( 3 ) 

1 
2,705 


?3 






"1 










?5 






12 








?6 










8 




15 


97 














?8 














24 
2 

20 
6 




•>., 
















30 








10 
8 


32 


28 
114 




31 








( 3 ) 


s*> 








is 




15 


31 


114 


94 


565 


100 

84 


14 


34 




35 














7 
3 
8 
9 
33 


36 


Ohio 


130 


2 


9 




20 


208 


37 




'•18 














49 

1 


39 






2 


254 

57 


59 


33 

71 


40 


Rhode Island 




41 












4? 


















43 








2 
9 


( 3 ) 


3 
2 




( 3 ) 
5 


44 




1 


65 


6 


45 


Utah 


40 












7 






47 




29 




3 

4 


12 






48 










1 


49 








1 






50 












80 


54 
20 


51 
















Total 
















4, 865 


3,495 


2,803 


6.409 


16, 714 


14, 485 


3,427 



For footnotes, see p. 254. 



STATISTICS OF INCOME 



253 



total reported value of real estate 2 classified by State in which the return was filed 
estate — Continued 

of dollars] 



Situs of real estate — Continued 




Missis- 
sippi 


Mis- 
souri 


Mon- 
tana 


Ne- 
braska 


Nevada 


New 
Hamp- 
shire 


New 
Jersey 


New 
Mexico 


New 
York 


North 
Caro- 
lina 


North 
Dakota 




2 












2 




115 






1 
















f 
























■>, 




31 

106 

1 

1 




















4 




9 


169 


33 




20 


41 


258 


1 


79 


T 




r, 










4 


( 3 ) 

12 
( 3 ) 
218 

28 


•255 

2 

191 

( 3 ) 

3 


25 














s 




71 
28 


38 


205 




25 
312 


6 
350 

15 


234 


9 


8 
1 


10 






11 












V 
























13 


80 


96 

( 3 ) 

22 
51 
17 
1 
26 


31 

5 

4 


206 






6 


5 

( 3 ) 

16 

( 3 ) 


65 
9 

82 


2 


26 


14 






15 




69 
32 






( 3 ) 




13 


16 








17 












2 




18 


585 










1 

105 
21 
48 
23 


1') 








67 










"ii 






1 




1 
75 




3 


1 

5 
37 


''1 




15 
61 


( 3 ) 
4 
16 




192 


■>■> 


( 3 ) 


10 




r\ 










'M 


1,205 


















"5 


7. IIS 
10 
22 


( 3 ) 
845 
2 


8 




4 


34 




5 






?6 








?7 




4,882 










( 3 ) 




1 


9S 




468 








'«) 










1,999 
31 






9 
4,332 
( 3 ) 
58, 975 

4 






'■ill 




18 


( 3 ) 






13. 746 


375 

1 


13 


( 3 ) 


31 








T> 




124 


57 


16 




82 


459 


58 
3,904 


( 3 ) 

365 
1 


33 




H 


















35 


1 

( 3 ) 


117 
4 


( 3 ) 
4 


1 
3 


25 


( 3 ) 


6 




45 
17 
65 
766 
62 


10 


36 










18 
( 3 ) 
66 


1 
54 


38 


2 


51 

93 


3 




6 

1 


1,646 




39 

til 














41 








7 












4? 


36 
9 


9 
2 












5 
112 


8 




43 


( 3 ) 
71 

1 










36 


44 




( 3 ) 










15 




24 




1 






( 3 ) 


1 
68 


2 


4fi 








( 3 ) 




47 




1 

( 3 ) 


2 


22 










4S 












62 
6 




49. 


32 


15 

4 








3 






18 


m 




3 






51 
























1,960 


8,121 


1,111 


5,636 


526 


2,725 


16, 255 


474 


65, 643 


4,549 


835 





254 



STATISTICS OF INCOME 



Table 6. — Estate tax returns filed during 1939 for citizens l and resident aliens: 

and by situs of real 

[Thousands 





Stale in which return was filed | 
(domicile of decedent at time 
of death) 


Situs of real estate— Continued 




Ohio 


Okla- 
homa 


1 
Oregon 


Penn- 
syl- 
vania 


Rhode 
Island 


South 
Caro- 
lina 


South 
Dakota 


Ten- 
nessee 


1 














( 3 ) 




(') 














3 




17 






4 






1 


3 
3 












5 




151 
6 
5 


123 
11 

14 


287 


45 


7 




61 
1 


6 

7 
8 
9 
10 










23 








17 
62 
137 
41 








80 

4 






12 

( 3 ) 


28 
15 

51 


5 
16 


6 

( 3 ) 




""(?)'" 




11 




12 
13 
14 


























86 
42 


Ill 


3 


31 






13 

5 

117 

1 


7 

24 
1 






1 


ir, 




2 
133 

30 


5 

( 3 ) 
















18 
19 
30 
21 
:22 
.23 
24 
25 
26 
27 
28 
29 
30 




3 


14 
















9 
1 

11 
84 
32 


6 




4 

57 
24 
















17 




2 

8 
8 
16 
52 


3 
3 


35 
















4 






7 


" 20 
58 










9 


5 






















1 


6 










12 
























42 
26 




1 

( 3 ) 


13 




55 


2 





516 
9 

215 


32 






220 
32 


42 
(») 


7 


418 


196 

49 


3 


166 


34 












2 
3 
9 

11 


7 


36 


Ohio 


23, 678 
6 


1 
6,430 


2 


39 


12 




37 
38 






3,608 


33, 087 


41 

2,913 
64 


18 

11 

2,286 




Pennsylvania. _ -- 


48 
4 
3 






1 




41 








21 
282 


3,125 

( 3 ) 


























6 
45 


44 


Texas 


( 3 ) 


144 


( 3 ) 


5 




45 




46 






1 








3 
10 






47 




( 3 ) 
2 

18 




10 






6 


48 






96 


49 




3 










50 




2 








5 




51 
















Total 




















24, 606 


7,143 


4,018 


34, 321 


3, 594 


2.718 


577 


3,457 









i Excluding returns filed for nonresident citizens who died prior to May 11, 1934. 

2 Includes amounts reported as real estate (Schedule A, Form 706, revised September 1936) and also real 
estate reported as (1) jointly owned property (Schedule E), (2) transfers made in contemplation of or in- 
tended to take effect at or after death (Schedule G), (3) passing under general powers of appointment exer- 
cised by will or deed in contemplation of death (Schedule H), and (41 property from an estate or received by 
gift taxed within five years (Schedule I). This aggregate corresponds to the total value of real estate 
tabulated as item 7 in table 1. 

s Less than $500. 



STATISTICS OF INCOME 



255 



total reported value of real estate 2 classified by State in which the return was filed 
estate — Continued. 

of dollars] 



Situs of real estate— Continued 




Texas 


Utah 


Ver- 
mont 


Vir- 
ginia 


Wash- 
ington 


West 
Virginia 


Wis- 
consin 


Wyom- 
ing 


i cited 

States 

posses- 
sions 
(other 
than 

Hawaii) 


Foreign 
coun- 
tries 


Situs not 
reported 




2 






2 














212 


1 


















•' 










1 


1 












3 


( 3 ) 

138 

28 

2 
















13 

594 

25 

11 


4 


272 

( 3 ) 




12 


173 
2 


2 


48 


1 
2 


19 


9 


5 
6 


4 




6 








7 














8 


6 

1 
5 






276 
12 
3 


323 










4 




« 




19 


3 


15 








10 








1 


11 














72 




]?, 






















13 


401 

7 
4 
44 
30 
21 
14 




7 


15 


234 




332 
2 
11 






( 3 ) 


31 

285 

181 

53 

53 

3 

(t) 


1-1 








ir> 








1 

4 








2 

• ( 3 ) 


16 


( 3 ) 












17 




80 
2 

1 
18 


1 








18 














19 






( 3 ) 
4 










( 3 ) 


•'0 






11 








31 


13 

2 
5 




5 
12 


( 3 ) 
18 
3 






( 3 ) 
5 


9 
291 

1 
( 3 ) 
49 


?? 




7 

7 









?3 


1 




'M 








1 
10 






•> r , 


60 










6 








■*i; 














1 


•»7 


13 








( 3 ) 






5 




81 


?8 


5 
5 














■„, 


1 

2 

15 


2 
2 
















( 3 ) 
16 


30 


6 






1 






3 


31 










:■;■• 




136 


58 


81 


64 


8 


1 




3 


49 
157 


33 




34 






















35 


20 
71 




3 


( 3 ) 


( 3 ) 


18 


131 








30 

88 

168 

164 

14 

60 

1 

93 

330 

6 


3fi 








37 








30 
3 












38 


136 




16 


47 
26 


77 
( 3 ) 
8 








1 


39 








40 
















41 












6 


1 






4" 


1 
16, 585 

1 
8 






71 
( 3 ) 










43 










10 






20 


44 


739 

4 












45 


831 


"6,803" 


5 
3,414 












46 


26 










105 
2 
16 
14 
50 


47 






5 


1 






48 










1,846 






49 


6 










6,547 






t 3 ) 


Ml 










424 




51 




















17, 644 


1,026 | 1,037 


7,433 


4, 2S8 : 2, 074 j 7. 143 


435 91 


47 


3,258 





256 



STATISTICS OF INCOME 



Table 7. — Estate tax returns of resident and nonresident decedents filed Sept. 9, 1916, 
through Dec. 31, 1989, historical summary: number of returns, gross estate, net 
taxable estate, and tax ' 

[Money figures in thousands of dollars] 





Returns 
filed 


Gross 

estate 


Filing period 


Total 


Resident 
decedents 2 


Nonresi- 
dent 
decedents 3 


Total 


Resident 
decedents 2 


Nonresi- 
dent 
dece- 
dents 3 


Sept. 9, 1916-Jan. 15, 1922 


45. 126 
13, 876 

15, 119 
14, 513 
16,019 
14, 567 
10, 700 
10, 236 
10, 343 
10, 382 

9,889 
8,507 
10, 275 
11,853 

12, 724 

13, 321 
17,032 
17, 642 

16, 926 


42, 230 
12, 563 

13, 963 
13,011 

14, 013 
13, 142 

9, 353 
8,079 
8,582 
8,798 
8,333 
7,113 
8,727 
10, 353 
11,110 
11,605 
15, 037 

15, 932 
15, 221 


2,896 
1,313 

1. 156 

1, 502 
2,006 
1,425 
1,347 

2, 157 
1,761 
1,584 
1,556 
1,394 
1,548 
1,500 
1,614 
1,716 
1,995 
1,710 
1,705 


8, 893, 239 
3, 014, 073 

2, 804, 327 

2, 566, 522 

3, 001, 089 
3, 407, 923 
3, 173, 235 
3, 554, 270 
3, 893, 246 
1,165,623 
4, 075, 575 
2, 830, 388 
2, 060, 956 
2, 267, 285 
2, 459, 892 
2, 312, 421 

2, 793, 758 

3, 089, 625 
2, 767, 888 


8, 785, 642 
2, 955, 959 

2, 774, 741 
2, 540, 922 

2, 958, 364 
3, 386, 267 
3,146.290 

3, 503, 239 
3, 843, 514 
4, 108, 517 
4, 042, 381 
2, 795, 818 
2,026,931 
2, 244, 107 
2, 435, 282 
2, 296, 257 
2, 767, 739 
3, 046, 977 
2, 746, 143 


107, 597 


Jan. 15-Dec. 31, 1922 


58, 113 


Jan. 1-Dec. 31: 

1923 


29, 587 


1924 


25, 600 


1925 


42, 725 


1926 


21, 656 


1927 


26, 945 


1928 . .. 


51, 032 


1929 -_- 


49, 732 


1930 


57, 106 


1931 


33, 195 


1932 . 


34. 570 


1933 * 


34, 025 


1934 < 


23, 178 


1935* 


24, 609 


1936* 

1937 * 


16, 163 
26, 019 


1938 * 


22, 648 


1939* 


21, 745 









Net taxable estate 




Tax 




Filing period 


Total 


Resident 
decedents 2 


Nonresi- 
dent 
dece- 
dents 3 


Total 


Resident 
decedents 2 


Nonresi- 
dent 
dece- 
dents 3 


Sept. 9, 1916-Jan. 15, 1922 


5, 509. 522 
1, 704, 974 

1, 532, 061 
1, 395, 816 
1, 658, 869 

1, 972, 537 
1,761,617 
1, 992, 503 

2, 313, 976 
2, 427, 454 
2, 356, 332 
1, 423, 437 
1, 000, 924 
1,170,566 
1, 339, 776 
1, 260, 022 
1,646,613 
1, 745, 259 
1, 558, 322 


5, 407, 674 
1, 652, 832 

1, 504, 621 
1,372,421 
1, 621, 008 
1, 951, 969 

1, 735, 840 
1, 943, 429 

2, 268, 323 
2, 376, 973 
2, 327, 319 
1,391,569 

970, 868 
1, 150,533 
1, 316, 888 
1, 245, 395 
1, 622, 618 
1, 724, 589 
1, 537, 975 


101,849 
52, 142 

27,440 
23, 395 
37, 861 
20, 567 
25, 777 
49, 075 
45, 653 
50, 481 
29,013 
31, 868 
30, 056 
20. 033 

22, 888 
14,627 

23, 995 
20. 670 
20, 347 


356, 516 
120, 562 

89, 109 
71, 939 
87, 322 
101,805 
41,686 
41,959 

44, 388 
41,617 

45, 200 
23, 674 
61,415 
96, 216 

155,466 
196, 370 
308, 450 
316, 802 
278, 938 


351, 138 
117,624 

88, 384 
71,451 
86, 223 
101,324 
40,931 
40, 561 

43, 303 
39, 003 

44. 540 
22, 364 
59, 429 
95, 228 

153.763 
195.301 
305, 784 
314, 620 
'276. 707 


5, 378 


Jan. 15-Dec. 31, 1922 


2,938 


Jan. 1-Dec. 31: 

1923 


726 


1924 


488 


1925 


1,099 


1926 


481 


1927 


755 


1928.,. 


1,398 


1929 


1,085 


1930 ... 


2.614 


1931 

L932 


660 
1,310 


1933* 


1, 986 


1934 ' 


988 


1935* 


1,703 


1936* 
1937*... 


1,069 
2, 665 


1938*... 


2,182 


1939*... 


2,231 



1 Changes in the Revenue Acts affecting the comparability of statistical data from estate tax returns are 
summarized on pp. 280-281. 

2 Includes citizens residing outside the United States who died on or after May 11, 1934. 

3 Excludes citizens residing outside the United States who died on or after May 11, 1934. 

* The net taxable estate tabulated for decedents who died after June 6. 1932, is net estate subject to the addi- 
tional tax under the Revenue Act of 1932, or that Act as amended, or the Internal Revenue Code. The tax- 
is the net basic tax under the Revenue Act of 1926, or the Internal Revenue Code, or either as amended, 
plus the net additional tax under the Revenue Act of 1932, or that Act as amended, or the Internal Revenue 
Code. 

GIFT TAX RETURNS 

The gift tax, which is payable by the donor, is imposed upon the 
transfer of property by gift and attaches to the total taxable transfers 
made during a calendar year rather than to separate gifts. The 
relationship of the donor to the recipient has no bearing on the tax 
liability. In this report are tabulated data from gift tax returns 



STATISTICS OF INCOME 257 

filed in 1939 for gifts made during 1938, together with some historical 
data respecting returns filed in earlier years. 

FILING REQUIREMENTS 

A gift tax return was required in 1939 of any citizen of the United 
States or resident alien who in 1938 transferred by gift to any one 
recipient more than $5,000 in total value, or who gave a future interest 
in property regardless of value. A return was also required of a non- 
resident alien under like circumstances, but onl}~ if the gift consisted 
of property situated in the United States. These filing requirements 
applied whether or not a tax was due. 

TAX LIABILITY 

The amount of taxable net gifts excludes (1) the first $5,000 given to 
each recipient, unless in the form of a future interest, (2) charitable, 
public, and similar gifts (this deduction being allowed non resident 
aliens only under certain specified conditions), and (3) in the case of 
citizens and resident aliens, the amount of specific exemptions used in 
the current year 

The current year tax liability is the difference between (1) a tax 
on the aggregate net gifts made after June 6, 1932 (the effective date 
of the Revenue Act of 1932), computed at the progressive rates 
applicable in the current year, and (2) a tax computed at the 
same rates on the aggregate amount of net gifts exclusive of current 
year gifts. As a result of this progressive tax method and the exclu- 
sions and deductions enumerated above, individuals reporting the 
same amount of total gifts in the current year may have different tax 
liabilities. 

NUMBER OF RETURNS, TOTAL AND NET GIFTS, AND TAX 

For the calendar year 1938, 11,042 gift tax returns were filed, of 
which 3,515 were taxable. The total gifts reported amounted to 
$399,773,224. In arriving at net gifts subject to tax, this total was 
reduced by exclusions of the first $5,000 to each recipient, aggregating 
$97,140,000; by charitable, public, and similar gifts above excluded 
amounts, aggregating $28,298,323 ; and bv claims for specific exemption 
aggregating $135,533,611 ; or in sum by $260,971,934. The amount of 
net gifts subject to tax was therefore $138,801,290. On this amount, 
tax liability of $17,838,845 w T as reported (see table 1, pp. 260-261). 

The number of returns, total gifts, net gifts, and tax were smaller 
than for 1937, the decrease in amounts being somewdiat greater than 
the decrease in number of returns. Thus, the total number of re- 
turns filed for 1938 was 19.4 percent less and the number of taxable 
returns was 14.8 percent less than for 1937; whereas total gifts de- 
creased between the two years 29.6 percent, net gifts decreased 23.3 
percent, and tax decreased 21.6 percent. 

In connection with these data, it is to be noted that the total tax 
liability and other amounts tabulated in this report are taken from 
gift tax returns as filed, and may differ from amounts finally deter- 
mined after audit by the Bureau of Internal Revenue. Moreover, 
the tax liability tabulated from returns filed in a given year does not 
agree with tax collections in that year for the several reasons that 
(1) payment of the tax is sometimes deferred, (2) deferred payments 



258 STATISTICS OF INCOME 

arc received on returns filed in prior years, and (3) adjustments 
resulting from audit may be made within the year of filing. 

KINDS OF GIFTS 

The various types of property comprising total gifts have been classi- 
fied into five groups: real estate, stocks and bonds, cash, insurance, 
and miscellaneous. The miscellaneous group includes such diverse 
items as jewelry, objects of art, copyrights on books, the forgiveness 
of debts, interest in a business, the assignment of judgments, etc. 

As has been true in all years from 1933 onward, gifts of stocks and 
bonds bulked largest, for 1938 comprising 53.7 percent of the total 
reported gifts. Cash gifts formed 18.1 percent of the total; real 
estate 10.3 percent; insurance 5.5 percent; and miscellaneous gifts 
12.4 percent. 

Charitable, public, and similar gifts in 1938 amounted to $33,838,- 
323, or 8.5 percent of the total reported gifts before exclusions of 
$5,000 per recipient. The exclusions applicable to gifts of this type 
amounted to $5,540,000: the balance, $28,298,323, was taken as a 
statutory deduction and comprised 9.4 percent of total gifts after 
exclusions. 

More than one-fourth (29.4 percent) of the total gifts for 1938 were 
transferred in trust. The proportion thus transferred varied con- 
siderably for the five kinds of property distinguished above, ranging 
from 13.3 percent for gifts of real estate to 39.0 percent for gifts of 
stocks and bonds. (See table 3, p. 264.) 

IDENTICAL DONORS, 1938 AND ONE OR MORE PRIOR YEARS 

Among the individuals who filed gift tax returns for 1938 were 4,492 
who had also filed returns in some prior year or years back to 1932, 
exclusive of individuals who in 1938 or in the prior years gave solely 
charitable, public, or similar gifts. Current year donors who in prior 
years made only charitable gifts cannot be distinguished from those 
who have not previously filed a return, since such gifts being deductible 
are not carried forward for computation of tax. Current year donors 
of charitable gifts only, who gave other than charitable gifts in some 
earlier year or years, have heretofore been included among "Identical 
donors" as tabulated in Statistics of Income, but are excluded this 
year for the first time. The tabulation now relates only to individuals 
who reported gifts other than charitable gifts both for the current 
year and for a prior period. (See table 4, p. 265.) 

A large number of these individuals (1,792) were not taxable either 
for 1938 or for any prior year, while an additional 115 were not 
taxable for 1938 although they had been taxed previously. Of the 
number taxable for 1938, 629 showed initial tax liability aggregating 
$1,380,434, while 1,956 who had been taxable in other years reported 
tax liability of $13,206,908. Comparison of this figure* with the total 
tax liability for 1938 of $17,838,845 indicates that a large proportion 
of the current year tax is paid by individuals who also paid a gift tax 
in prior years. 

The 1,956 returns taxable both for 1938 and for earlier years are 
classified in table 5 by size of net gifts for 1938 and by size of net gifts 
previously reported. This table has not heretofore been published. 
In connection with the size classifications, it should be borne in 



STATISTICS OF INCOME 259 

mind that neither the current nor the prior year figures include the 
first $5,000 given to each recipient per yeai, the amount given for 
charitable or public uses, or the amount of specific exemption (not 
exceeding $40,000) taken by the donor. 

DEFINITIONS OF ITEMS 

Total gifts. — In the text and tables, the term "Total gifts" or "Total 
gifts before exclusions" represents the value of property transferred 
under a donative intent less any money consideration received in 
exchange. Unlike statutory total gifts, this amount includes the 
first $5,000 given to each recipient of more than $5,000 and also 
includes gifts of $5,000 insofar as taxpayers have unnecessarily 
reported them. Statutory total gifts exclude 1 such amounts, unless 
the gift consists of a future interest in property. The aggregate 
amount excluded by statute from total gifts is designated in the tables 
"Exclusions." The item in the tables designated "Total gifts after 
exclusions" corresponds with the statutory total gifts. 

Net gifts. — Net gifts upon which the tax is imposed mean statutory 
total gifts (or "Total gifts after exclusions") less all charitable, public, 
and similar gifts in excess of amounts of such gifts already excluded, 
and less so much of the specific exemption as the taxpayer claims. 

Specific exemption. — In computing the gift tax for calendar years 
beginnmg with 1936, each citizen and resident alien is allowed to 
deduct from statutory total gifts a specific exemption of $40,000, this 
sum to be taken either in one year or spread over a period of years as 
the taxpayer choosps. Under the revenue acts in force for the years 
1932-1935, a specific exemption of $50,000 was allowed, this sum 
likewise to be taken either in one year or spread over a period of years. 
In cases where the exemption actually taken for 1932-1935 exceeded 
$40,000, the amount of the excess is added to the net gifts carried for- 
ward for the purpose of computing the tax liability for 1936 and sub- 
sequent years. 

The gift tax rates, exclusions, specific exemptions, and deductions 
under applicable revenue acts in effect for 1924-1926 and 1932-1938 
are summarized on page 282 of this report. 

CONTENT OF GIFT TAX TABLES 

Tables 1, 2, and 3 relate to all gift tax returns for 1938. Table 1 
shows for taxable and nontaxable returns separately the number of 
returns, total gifts before exclusions by type of property, exclusions, 
total gifts after exclusions, deductions, net gifts, and tax, classified 
by size of net gifts for 1938. Table 2 shows the same information, 
except as respects types of property, classified by size of total gifts 
for 1938. Table 3 discloses the extent to which each type of propcrty 
transf erred by gift in 1938 was transferred in trust. 

Tables 4 and 5 cover only the returns of individuals who made gifts 
other than charitable gifts in 1938 and in one or more prior years. 
Table 4 exhibits for such returns, classified by taxable status in 1938 
and in the earlier period, the number of returns, net gifts, and tax. 
Table 5 classifies the returns which were taxable both in 1938 and in a 
prior year or years by size of net gifts for 1938 and by size of net gifts 
for the prior period. 

A historical summary of selected items respecting gift tax returns 
for 1932-1938 is given in table 6. 



260 



STATISTICS OF INCOME 



Table 1. — Gift tax returns for 1938, by net gift classes: 1 number of returns, total 
gifts by kind of property, exclusions, total gifts after exclusions, deductions, net 
gifts, and tax 

[Net gift classes and money figures in thousands of dollars] 





Number 

of 
returns 

(2) 


Total gifts before exclusions, by kind of property 


Net gift classes ' 

(1) 


Real 
estate 

(3) 


Stocks 

and 

bonds 

(4) 


Cash 
(5) 


Insur- 
ance 

(6) 


Miscel- 
laneous 

(7) 


Total 
(8) 


Nontaxable returns: 


7,527 


26, 191 


76, 129 


29,468 


10, 482 


26, 740 


169, 010 




Taxable returns: 


1,086 

503 

610 

335 

196 

160 

325 

184 

73 

25 

8 

1 

5 

2 

1 


1,943 
1,975 
2,290 
1,508 

817 

683 
3,006 
1,755 

536 
32 

507 


12,251 
7,103 
10,917 


4,340 
3, 659 
5. 109 


2,077 

1, 111 

1,721 

1,702 

493 

806 

1,865 

987 

242 

295 


2,263 
2.140 
3,463 


22 872 




15,988 
9.3 4QQ 


10 under 20 ... 


20 under 30 ... 


8,202 | 3,593 
6,821 2,663 
5,904 2,554 
18, 071 5. 830 


2,089 1" "OS 


30 under 40 


1,577 

2,002 

3,856 

4,100 

911 

533 

6 


12 372 


40 under 50 . 


11 949 


50 under 100 


32, 628 

34, 608 
22, 258 
14 707 


100 under 200 

200 under 400 . 


21, 894 
16, 619 
10, 251 
4.571 
1,016 
5,767 
3, 435 
2,009 


5,872 

3,951 

3, 597 

864 


400 under 600. .. 


600 under 800 

800 under 1,000 


5,948 
1 016 


1,000 under 1,500 




302 
89 
30 




22 
63 


6,091 


1,500 under 2,000. __ . 


14 


3,539 


2,000 under 2,500 .. 




2 103 


2,500 under 3,000 




3,000 under 3,500 . 
















3,500 under 4,000 
















4,000 under 4,500. _. . 


1 




3,622 


468 






4,090 








Total taxable returns 


3,515 


15, 050 


138, 454 


42. 922 


11,313 


23, 023 


230, 763 


Grand total .. 


11,042 


41,241 


214, 583 


72, 390 


21, 795 


49, 764 


399. 773 









Exclusions of the first $5,000 
given each recipient ■ 


Total 

gifts 
after ex- 
clusions 

(12) 


Deductions 


Net gift classes ! 

(1) 


Total 
(9) 


Chari- 
table, 
public, 

and 
similar 

gifts 

(10) 


Other 

gifts 

(ID 


Total 

(13) 


Chari- 
table, 
public, 
and sim- 
ilar 
gifts 
after 
exclu- 
sions 3 

(14) 


Specific 
exemp- 
tion 
claimed 
for 1938 * 

(15) 


Nontaxable returns: 

No net gifts 


57, 535 


3,620 


53,915 


111,475 


111,475 


18,786 92,689 






Taxable returns: 
Under 5... 


10, 055 

4,910 

6, 455 

4,390 

2,395 

1,975 

4,205 

2,875 

1,140 

780 

210 

5 

60 
55 
40 


390 
150 
230 
220 
100 
120 
195 
290 
75 
95 
20 

10 
10 
15 


9, 665 

4,760 

6,225 

4, 170 

2, 295 

1,855 

4,010 

2, 585 

1,065 

685 

190 

5 

50 

45 

25 


12, 817 
11,078 
17,044 

12, 705 
9,977 
9,974 

28, 423 
31,733 
21, 118 

13, 927 
5, 738 
1.011 
6,031 
3,483 
2,063 


10,714 1 1 209 


9, 505 


5 under 10 . 


7.590 

8, 366 

4,516 

3,288 

2,895 

6, 208 

5,678 

1,323 

1,432 

155 

40 

92 

28 

33 


813 

1,008 

542 

303 

288 

704 

3,214 

299 

1, 020 

39 

12 
28 
33 


6, 777 


10 under 20 


7,358 


20 under 30 


3,974 


30 under 10 


2,985 


40 under 50 


2, 607 


50 under 11)0 


5,504 


Kill under 200 


2,464 


200 under 100 


1.024 


400 under 600 


412 


600 under Mill 


115 


800 under 1,001) 


40 


l.ooo under 1,500 
1,500 under 2,000 


80 


2,000 under 2,500 . . 




2,500 under 3,000 




3,000 under 3, ."no 
















3,500 under 4,000 
















i.ooo under 4,500 


55 




55 


1,035 


















Total taxable returns 


:','.), f,o.- 


1,920 


37, 685 


191, 158 


52, 357 


9,512 


42, 845 


Grand total . 


97.140 


5. 540 


91. 6(11) 


302. 633 


163. 832 


28.298 


135. 534 



For footnotes, see p. 261. 



STATISTICS OF INCOME 



261 



Table 1. — Gift tax returns for 1.988, by net gift classes: ' number of returns, total 
gifts by kind of property, exclusions, total gifts after exclusions, deductions, net 
gifts, and tax — Continued. 

[Net gift classes and money figures in thousands of dollars] 





Net gifts 


Tax 


Net gift classes ' 

(l) 


Total 
(16) 


Prior 
years 5 

(17) 


1938 

(18) 


Total 

(19) 


Prior 
years 6 

(20) 


1938 

(21) 


Nontaxable returns: 

No net gifts 


1 126, 927 


1 126, 927 




1 25, 354 


' 25, 354 










Taxable returns: 

Under 5_ . ... 


73, 856 

35, 532 

58, 101 

40, 202 

18, 593 

20, 976 

68, 838 

49,911 

37, 403 

20, 859 

7,909 

971 

7,520 

5, 600 

7,647 


71, 753 
32, 045 
49, 423 
32,014 
11,904 
13, 897 
46, 623 
23, 856 
17, 608 
8,364 
2,326 

1,581 
2,144 

5,617 


2,104 
3,488 
8,678 
8,188 
6,689 
7,080 
22, 216 
26, 055 
19, 795 
12, 495 
5, 583 
971 
5,939 
3,456 
2,029 


8,849 
4,969 
7,904 
4,900 
1,708 
2,389 
10, 683 
6,279 
5,787 
3,660 
1,350 
161 
1,459 
1,332 
2,600 


8,744 
4,802 
7,403 
4,327 
1,255 
1,853 
8,566 
3,181 
2,908 
1,540 
332 


105 




167 


10 under 20 

20 under 30 

30 under 40 


501 
573 
454 


40 under 50 

50 under 100 


536 
2,117 


100 under 200 

200 under 400 ....... 


3, 097 
2,879 
2,120 
1,018 


400 under 600 

600 under 800 


800 under 1,000 


161 


1,000 under 1,500 


248 

438 

1,701 


1,211 


1 ,500 under 2,000 


894 


2,000 under 2,500 


899 


2,500 under 3,000 




3,000 under 3,500 














3,500 under 4,000 














4,000 under 4,500 


4,171 


136 


4,035 


1,120 


12 


1,108 








458, 091 


319, 290 


138, 801 


65, 149 


47,311 


17, 839 




Grand total 


585, 01-8 


446,217 


138, 801 


90, 503 


72, 665 


17, 839 







1 The classification is based on the size of net gifts for 1938. 

2 Excepting gifts of future interest in property. 

3 The exclusion is shown in column 10. 

* Specific exemption of $40,000 is allowed each resident or citizen donor (see sec. 301(b), Revenue Act of 
1935). At the option of the donor, this amount may be taken in 1 year or spread over a period of years. 

5 Prior years cover the period June 7, 1932, through Dec. 31, 1937, inclusive. The amount tabulated may 
exceed net gifts reported in prior years, for the reason that when a specific exemption of over $40,000 
has been taken for years prior to 1936 (when $50,000 exemption was allowed) , the net gifts for prior years 
reported on the current year returns are increased by the amount taken in excess of $40,000. 

8 The tax tabulated in this column is not the amount of tax liability reported in prior years, but an amount 
calculated on cumulated net gifts plus any excess exemption taken in prior years, at rates applicable to 
gifts made during 1938. 

" These amounts are probably understated since there is not always sufficient information shown on the 
current year return for their computation. 



262 



STATISTICS OF INCOME 



Table 2. — Gift tax returns for 1938 by total gift classes, 1 showing for taxable and 
nontaxable returns separately: number of returns, total gifts before exclusions, 
exclusions, total gifts after exclusions, deductions, net gifts, and tax 

[Total gift classes and money figures in thousands of dollars] 



Total gift classes • 



(1) 



Under 5 

5 under 10 

10 under 20 

20 under 30 

30 under 40 

40 under 50 

•50under 100 

100 under 200 

200 under 400 

400 under 600 

600 under 800 

800 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. 



Total 11,012 



Total 
num- 
ber of 
returns 



(2) 



100 
2,317 
2,939 
1,696 
1,184 

986 
1,222 

402 

135 
31 
13 



Taxable returns 



Num- 
ber of 
returns 



(3) 



24 

443 

596 

399 

275 

310 

925 

369 

121 

25 

13 

2 

8 

3 

1 



Total 
gifts be- 
fore ex- 
clusions 



W 



42 

3.076 

8,517 

9,631 

9, 424 

14. 046 

61,930 

48. 588 

31.565 

12, 030 

9,074 

1,654 

9.892 

5,101 

2,103 



4.090 



Exclusions of the first 
$5,000 given each recip- 
ient 2 



(5) 



2,185 

4.610 

4,240 

3.285 

3, 420 

11,845 

6,380 

2. 135 

395 

355 

260 

205 

195 

40 



39. 605 



Chari- 
table, 
public, 
and sim- 
ilar sifts 

(6) 



125 

110 

145 

70 

430 

470 

285 

55 

65 

10 

35 

105 

15 



1. 920 



Other 
gifts 



(7) 



2, 185 
4. 485 
4,130 
3,140 

3. 350 
11.415 

5,910 

1,850 

340 

290 

250 

170 

90 

25 



55 



37, 685 



Total 
gifts 
after ex- 
clusions 



(8) 



42 

891 

3,907 

5, 391 

6.139 

10, 626 

50, 085 

42.208 

29, 430 

11.635 

8,719 

1,394 

9.687 

4,906 

2, 063 



. 035 



191, 158 



Deduc- 
tions 









Taxable returns- 


-Continued 








Deductions— Con td. 


Net gifts 


Tax 


Total gift classes i 
(1) 


Chari- 
table, 
public, 
and sim- 
ilar gifts 
after ex- 
clusions ' 

(10) 


Specific 
exemp- 
tion 
claimed 
for 1938 * 

(11) 


Total 

(12) 


Prior 
years 5 

(13) 


1938 
(11) 


Total 

(15) 


Prior 
years 6 

(16) 


1938 

(17) 


Under5_. 




2 
38 

366 

1,026 

1,082 

5,457 

24, 492 

7.662 

1.873 

483 

244 


2. 166 
27, 394 
65, 719 
35, 157 
34, 978 
22, L67 
79. 446 
81.390 
44. 232 
18,481 
13, 140 
3, 238 
9,313 

6, 151 

7. 647 


2,126 

26. 541 

62, 259 

31. 179 

30, 064 

17. 115 

54, 704 

51, 555 

19.386 

7.523 

4,976 

1,853 

1,718 

2,538 

5, 617 


40 

853 

3. 461 

4,278 

4,914 

5,053 

24. 742 

32, 835 

24.S46 

10.958 

8, 164 

1,385 

7. 590 

3,613 

2,029 


248 

2, 665 
9,039 
4, 507 
4,784 
2,283 
9,909 

12, 491 
6,142 

3, 154 
2, 416 

653 
1.731 

1, 408 

2. 600 


245 
2, 618 

8.789 

4, 203 

4.412 

1,867 

8,148 

9.019 

2, 859 

1,386 

959 

345 

259 

487 

1,701 


2 


5 under 10 




47 


10under20 

20 under 30- _. 


81 

87 

142 

117 

852 

1,712 

2.711 

194 

311 

8 

1,972 

1,293 

33 


250 
304 


30 under 40 


372 


40 under 50 


416 


50 under 100 


1,760 


100 under 200 


3,473 


200 under 400... 


3. 282 


400 under 600 


1,768 


600 under 800 

800 under 1,000... 


1, 457 
308 


1,000 under 1,500 

1,500 under 2,000 .. 
2,000 under 2,500 


120 


1.472 
920 
899 


2,500 under 3,000 




3.000 under 3,500 


















3,500 under 4,000.. 


















4,000 under 4,500... 






4,171 


136 


4.035 


1,120 


12 


1, L08 










Total 


9.512 


42. 845 


458, 091 


319.290 


138. 801 


65. 149 


47,311 


17, 839 



For footnotes, see p. 264. 



STATISTICS OF INCOME 



263 



Table 2. — Gift tax returns for 1938 by total gift classes, 1 showing for taxable and 
nontaxable returns separately: number of returns, total gifts before exclusions, 
exclusions, total gifts after exclusions, deductions, net gifts, and tax — Continued 

[Total gift classes and money figures in thousands of dollars] 



Total gift classes » 



(1) 



Nontaxable returns 



Number of 
returns 



(18) 



Total gifts 

before 
exclusions 



(19) 



Exclusions of the first $5,000 given 
each recipient 2 



Total 



(20) 



Charitable, 
public and 
similar gifts 



(21) 



Other 
gifts 



(22) 



Under 5. ._. 

5 under 10 

10 under 20 

20 under 30 

30 under 40 

40 under 50 

50 under 100 

100 under 200 

200 under 400 

400 under 600 

600 under 800. __- 
800 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. 

Total 



76 

1,874 

2,343 

1,297 

909 

676 

297 

33 

14 

6 



185 
13, 186 
32, 667 
31, 155 
31,503 
29,428 
17,516 
4,329 
3,532 
2,762 



9,195 

15,505 

10,640 

8,420 

6.760 

6,015 

740 

190 

60 



570 
780 
460 
370 
290 
560 
330 
190 
60 



1,196 
1,553 



7,527 



169, 010 



57, 535 



3,620 



8, 625- 

14, 725 

10, 180 

8,050 

6,470 

5,455- 

410- 



53,915 



For footnotes, see p. 264. 



264 



STATISTICS OF INCOME 



Table 2. — Gift tax returns for 1938 by total gift classes, 1 showing for taxable and 
nontaxable returns separately: number of returns, total gifts before exclusions, 
exclusions, total gifts after exclusions, deductions, net gifts, and tax — Continued 

[Total gift classes and money figures in thousands of dollars] 





Nontaxable returns — Continued 




Total 
gifts 
after 
exclu- 
sions 

(23) 


Deductions 


Xet gifts 
for prior 
years 5 » 

(27) 




Total gift classes ' 
(1) 


Total 

(24) 


Charitable, 
public and 

similar 
gifts after 
excusions 3 

(25) 


Specific 

exemption 

claimed 

for 1938 4 

(26) 


Tax for 

prior 
years « 7 

(28) 




185 
3.991 
17, 162 
20, 515 
23, 083 
22, 668 
11,501 
3,589 
3,342 
2,702 


185 
3,991 
17, 162 
20, 515 
23, 083 
22, 668 
11,501 
3,589 
3, 342 
2,702 


1 

232 

939 

857 

725 

1,086 

2,812 

3, 352 

3,342 

2,702 


184 

3,760 

16, 223 

19, 657 

22, 358 

21, 583 

8,689 

236 


21 
14.611 
27, 873 

15,186 
10, 560 
18, 130 
16, 738 
7, 970 
7,333 
8,134 


( B ) 




2,270 


10 under 20 


4,627 


20 under 30 


2,567 


30 under 40 


2, 375 


40under50 


4,770 


50 under 100 


3,379 


100 under 200 


1,821 


200 under 400 


1,458 


400 under 600 




2,042 


600 under 800 






800 under 1,000 














1,000 under 1,500 


1,191 
1,548 


1,191 
1,548 


1,191 
1,548 








1,500 under 2,00(1 




372 


46 


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 




























Total 


111,475 


111,475 


18, 786 


92, 689 


126, 927 


25, 354 







i The classification is based on the size of "Total gifts before exclusions" for 1938. 

2 Excepting gifts of future interest in property. 

3 The exclusion is shown in column 6 under taxable returns and in corresponding column 21 under non- 
taxable returns. 

4 Specific exemption of $40,000 is allowed each resident or citizen donor (see sec. 301 (b), Revenue Act of 
1935). At the option of the donor, this amount may be taken in 1 year or spread over a period of years. 

5 Prior years cover the period June 7, 1932, through Dec. 31, 1937, inclusive. The amount tabulated may 
exceed net gifts reported in prior years, for the reason that when a specific exemption of over $40,000 
has been taken for years prior to 1936 (when $50,000 exemption was allowed), the net gifts for prior years 
reported on the current year returns are increased by the amount taken in excess of $40,000. 

6 The tax tabulated in this column is not the amount of tax liability reported in prior years, but an amount 
calculated on cumulated net gifts plus any excess exemption taken in prior years, at rates applicable to gifts 
made during 1938. 

7 These amounts are probably understated since there is not always sufficient information shown on the 
current vear return for their computation. 

8 Less than $500. 

Table 3. — Gift tax returns for 1938: total gifts by kind of property, showing amounts 
transferred in trust and amounts otherwise transferred 



IThousands of dollars] 



Kind of property 


Total gifts 


Amount by 
trust 

5, 171 
83, 641 
12, 170 

6, 194 
9,961 


All other 
gifts 




41, 241 

214. 583 
72. 390 
21, 795 
49. 764 


35. 7711 




130,941 


Cash 


60, 221 




l.'i. 601 




39, 803 






Total 


399, 773 


117.437 


-N2. 336 







STATISTICS OF INCOME 



265 



Table 4.- — Gift tax returns for 1938 of identical donors ' classified by taxable status 
in 1938 and in prior years: number of returns, net gifts, and tax 
[Money figures in thousands of dollars] 





Number 


Net gifts 


Tax 


Taxable status 


of returns 
for 1938 


Total 


Prior 
years 2 


1938 


Total 


Prior 
years 2 


1938 


Taxable returns for 1938 of donors 
filing taxable returns Tor prior 


1,956 

029 

115 

1,792 


399, 675 
19,334 

5 112. 147 


1 319,290 


80, 385 

19. 334 


60,517 

1.380 
6 1,7/17 


1 47,311 


13 207 


Taxable returns for 193s of donors 
filing nontaxable returns for 
prior years . 


1,380 


Nontaxable returns for 1938 of 1 1< tri- 
ors filing taxable returns for 


3 12, 147 


5 1, 757 


Nontaxable returns for 1938 of don- 
ors filing nontaxable ret urns for 
prior years 




















Total 


4,492 


431, 156 


331, 437 


99, 720 


63, 655 


49, 068 


14 587 







1 Identical donors comprise individuals who reported for 193s and for one or more prior years back to 1932 
gifts other than charitable, public, and similar sifts. 

2 Cover period June 7, 1952, through Dec. 31, 1937, inclusive. 

3 This amount may exceed net gifts reported in prior years, for the reason that when a specific exemp- 
tion of over $40,000 has been taken for gifts made in years prior to 1936 (when $50,000 exemption was 
allowed), net gifts for prior vears reported on the current year returns are increased bv the amount taken in 
excess of $40,000. 

4 The tax tabulated here is not the amount of tax liability reported in prior years, but an amount cal- 
culated on cumulated net gifts plus any excess exemption taken in prior years, at rates applicable to gifts 
made during 1938. 

* These amounts are probably understated because there is net always sufficient information shown on 
the current year returns for their computation. The method of computation is the same as described in 
footnotes 3 and 4. 



Table 5. — Gift tax returns for 1938 of identical donors ' ivho were taxable both for 
1938 and for one or more prior years: number of returns, classified by size of net 
gifts for 1938 and by size of net gifts for prior years 

[Net gift classes and net gifts for prior years classes in thousands of dollars] 









Size of net gifts for prior years - 






Size of net gifts for 1938 


Total 


Under 
5 


5 

under 

10 


10 

under 

20 


20 

under 

30 


30 

under 

40 


40 

under 

50 


50 

under 

100 




055 

268 

340 

193 

95 

75 

150 

108 

40 

14 

5 


88 
32 
28 
13 
3 
3 

5 
2 

1 


09 
26 
23 
19 
9 
5 

5 
2 


99 
47 
55 
20 
9 
10 
10 
10 
2 
1 


50 
22 
40 
Hi 

4 
11 
5 
1 


33 
17 
19 
9 
8 
4 
7 
5 
2 


37 
15 
25 
4 
2 
3 
3 
1 
1 
1 


105 


5 under 10- . 


43 


10 under 20 


63 


20 under 30. _ . 


40 


30 under 40 


18 


40 under 50 

50 under 100 

100 nnder 200 


15 
39 
13 


200 under 400 


1 


400 under 600 


1 


600 under 800 








800 under 1,000 
















1,000 under 1,500 


3 

2 
1 

1 
















1,500 under 2,000 














1 


2,000 under 2,500 
















































Total 


1.956 


182 


164 


263 


161 


104 


92 


339 











For footnotes, see p. 260. 



266 



STATISTICS OF INCOME 



Table 5. — Gift tax returns for 1938 of identical donors 1 who were taxable both for 
1938 and for one or more prior years: number of returns, classified by size of net 
gifts for 1938 and by size of net gifts for prior years — Continued 

[Net gift classes and net gifts for prior years classes in thousands of dollars) 





100 

under 

200 




size of net gifts for prior years 2 — Continuec 






Size of net gifts for 1938 


200 

under 

400 


400 

under 

600 


600 

under 

800 


800 
under 
1,000 


1,000 
under 
1,500 


1,500 
under 
2,000 


2,000 
under 
2,500 


2,500 
and 
over 


Under 5 

5 under 10 _ 


77 

32 

37 

29 

23 

13 

33 

32 

9 

4 

1 


49 
18 
20 
22 
10 

7 
16 
13 

5 

2 


23 
7 

12 

11 
5 
4 
9 

11 
5 
1 


5 
1 
2 
4 
1 
4 
3 
4 
3 
1 
1 


5 
2 
6 
2 
1 
1 
2 

1 
1 
1 


6 
2 
6 
3 


2 
2 
3 


2 


1 


10 under 20 


1 


20 under 30 


1 


30 under 40... 








40 under 50 


1 

4 
3 
5 
1 


1 

2 






50 under 100... . 


1 


4 


100 under 200 




200 under 400 


1 


400 under 600 


1 




1 


600 under 800.. 




800 under 1,000 










1,000 under 1,500 


1 


1 








1 








1,500 under 2,000 










1 




2,000 under 2,500 
















1 


2,500 and over 


1 




































Total 


292 


163 


88 


29 


22 


32 


11 


4 


10 



i Identical donors comprise individuals who reported for 1938 and for one or more prior years back to 1932 
gifts other than charitable, public, and similar gifts. 

2 Based on total amount of net gifts for preceding years as adjusted in Schedule C of the gift-tax return 
(Form 709) to include any excess over $40,000 specific exemption taken prior to 1936. 



Table 6.— Gift tax returns, 1932-1988: number of returns by taxable status, total 

gifts, net gifts, and tax 

[Money figures in thousands of dollars] 



Calendar year for which filed 


Number of returns 


Total gifts 


Net gifts 


Tax 


Total 


Taxable 


Nontaxable 


19321 

1933 


1,747 
3,683 
9,270 
22, 563 
13, 420 
13, 695 
11,042 


245 
878 
2,528 
8,718 
3,770 
4,128 
3,515 


1,502 
2,805 
6,742 
13, 845 
9,650 
9,567 
7,527 


81, 389 
241, 008 
888, 753 
2, 130, 514 
482, 783 
568, 109 
399, 773 


17, 879 
101, 793 
537, 083 
1,196,001 
134. 979 
180, 939 
138.801 


1,111 
8,943 
68, 383 


1934 


1935 


162, 798 
15 664 


1936 


1937 


22 758 


1938... 


17, 839 





' Covers the period June 7 through Dec. 31, 1932, inclusive 



SYNOPSIS OF 

REVENUE ACTS OF 1913-1938 

AFFECTING THE COMPARABILITY OF DATA 
IN "STATISTICS OF INCOME" 



FEDERAL TAX RATES 

CREDITS AND EXEMPTIONS 

AND OTHER PROVISIONS APPLICABLE TO 

INDIVIDUAL INCOME AND PROFITS TAX RETURNS 

FIDUCIARY INCOME TAX RETURNS 

ESTATE TAX RETURNS 

AND GIFT TAX RETURNS 



267 



299429—41 18 



A SYNOPSIS OF THE REVENUE ACTS OF 1913 1938 AFFECTING THE COM- 
PARABILITY OF DATA IN "STATISTICS OF INCOME" FEDERAL TAX 
RATES, CREDITS AND EXEMPTIONS, AND OTHER PROVISIONS AP- 
PLICABLE TO INDIVIDUAL INCOME AND PROFITS TAX RETURNS, 
FIDUCIARY INCOME TAX RETURNS, ESTATE TAX RETURNS, AND GIFT 
TAX RETURNS. 



INDIVIDUALS AND FIDUCIARIES 

A. Individuals and fiduciaries required to file Federal income tax 
returns, personal exempt ion. credit for dependents, and normal tax 
rates, under the Revenue Acts of 1913 through 1938, and certain tax 
provisions of the National Industrial Recovery Act (1933). 

B. Federal individual and fiduciary surtax rates and total surtax 
under the Revenue Acts of 1913 through 1938. 

C. Federal individual and fiduciary supplemental income and profits 
tax rates and credits, under the Revenue Acts of 1917 through 1938. 

ESTATES 

D. Federal estate tax rates, total estate tax, specific exemption, 
and credits against estate tax, under the Revenue Acts of 1916 through 
1939. 

GIFTS 

E. Federal gift tax rates, total gift tax, specific exemption, ex- 
clusions and deductions under the Revenue Acts of 1924, 1932, and 
1932 as amended by 1934 and 1935. 

269 



270 



STATISTICS OF INCOME 



A. — Individuals and fiduciaries required to file Federal income tax returns, personal 

1913 through 1938, and certain tax provisions 



Revenue Act 
(Date of enactment) 



1913 (Oct. 3, 1913) 

1916 (Sept. 8, 1916) 

1916 as amended and 

1917 (Oct. 3, 1917) 

1918 (Feb. 24, 1919) 

1921 (Nov. 23, 1921). 

1924 (June 2, 1924) 

1926 (Feb. 26, 1926) 

1928 (May 29, 1928) 

1932 (June 6, 1932). 

National Industrial Recovery 

Act (June 16, 1933). '6 
1934 (Mav 10, 1934) 

1936 (June 22, 1936) 

1937 (Aug. 26, 1937)'* 

1938 (May 28, 1938) 

For footnotes, see pp. 272-273. 



Applicable to citizens and residents of the United States 



Income year 



Mar. 1, 1913, through 

Dec. 31, 1915. 
1916 

► 1917.-.. 



[1918. 



[1919, 1920. 



[1921. 
•M922. 
11923. 



(1925. 

<h926. 
1.1927. 

1928. 



1929 
1930. 
U931. 



1932, 1933. 
1933 



1934, 1935. 
1936. 1937. 

1937 

1938 



Individuals required to file returns » 



Married and living 
with husband or 
wife 3 



Net in- 
come 5 



$3, 000 

3. 000 
2.000 

2,000 

2,000 

2,000 

2.500 
3,500 



3, 500 



2.500 



} 2, 500 

~""2,~506' 



Gross 
income 
regardless 
of amount 
of net 
income 



$5, 000 

5,000 
5, 000 



5, 000 



5.000 



Single, or married 
and not living with 
husband or wife 



Net in- 
come 5 



5.000 



5.000 



$3, 000 

3,000 

1.000 

1.000 

1,000 

1,000 

1,000 

1, 500 



1,000 



1,000 



Gross 
income 
regard- 
less of 
amount 
of net 
income 



$5, 000 

5,000 
5,000 



5,000 



5,000 



5, 000 



STATISTICS OF INCOME 



271 



exemption, credit for dependents, and normal tax rates, under the Revenue Acts of 
of the National Industrial Recovery Act (1933) 



Applicable to citizens and residents of the United States— Con. 


Applicable to nonresident aliens • 


Personal exemption • 


Credit 
for 
each 
de- 
pend- 
ent s 


Net income subject 
to normal tax B 


Nor- 
mal 
tax 
rate 
(per- 
cent) 

1 

2 
2 
4 
6 
12 
4 
8 

i*4 

2 
4 
6 

m 

3 
5 

m 

3 

5 

15 Vi 

15 2 
15 4 

m 

3 

5 

3 
5 

4 
8 


Personal exemption 


Credit 
for 
each 
de- 
pend- 
ent^ 


Nor- 
mal 
tax 

rate » 
(per- 
cent) 


Married 

and 

living 

with 

husband 

or wife, or 

head of 

family ' 

7 $4, 000 

4,000 
2,000 

2,000 

2,000 

11 2, 500 

2.500 
3,500 

3,500 
2,500 


Single, 6 or 
married 
and not 

living with 
husband 
or wife, 
and not 
head of 
family 7 

? $3,000 

3,000 
1,000 

1,000 

1,000 

1,000 

1.000 
1. 500 

1,500 
1,000 


Married 

and 

living 

with 

husband 

or wife, 

or head 

of 
family : 


Single, 

or 
married 
and not 
living 
with 
husband 
or wife, 
and not 
head of 
family 7 


$200 
200 
200 

400 

400 
400 

400 
400 


All 






1 


All 


$4, 000 


$3, 000 




2 


/First $2,000 




/Balance over $2,000. . 
/First $4,000 




I 

} (") 

} ('») 
] 1,000 

1 1,000 

[ 1, 500 

I 1, 500 

i 1, 500 

I 1, 500 

| 1, 500 
} 1, 000 


(10) 
(10) 

1,000 

1,000 

1,500 

1,500 

1,500 

1,500 

1,500 
1,000 


(.0) 
(10) 

(12) 

(12) 

(12) 

(12) 

(12) 

(12) 

(12) 
(12) 




\ Balance over $4,000. . 
/First $4,000 


8 
13 us 


/Balance over $4,000. . 
/First $4,000 


/Balance over $4,000.. 
(First $4.000 


\ Second $4.000 

[Balance over $8, 000. 
(First $4,000 


13 6 


{Second $4,000 

[Balance over $«,000. . 
/(First $4,000 . 


"5 


{Second $4,000 

[Balance over $8,000. 
(First $4,000 .. 


i?5 


^ Second $4,000 

, [Balance over $8,000. 
\ (First $4,000 


13 15 4 


{Second $4,000. 

[Balance over $8,000. 
| First $4,000 


13 5 


{Second $4,000 

[Balance over $8,000. 
/First $4,000 


13 5 
13 8 


/Balance over $4,000.. 


2,500 


1,000 


400 


All 


4 


/ 1,000 

\ if 1.000 

i? 1.000 

I? 1,000 


1,000 
■7 1,000 
17 1,000 
17 1,000 


(.2) 
(12 17) 
(12 17) 
(" 1') 


13 4 
17 10 
17 10 




2,500 


19 1,000 


400 


All 


4 


17 10 







272 



STATISTICS OF INCOME 



[Footnotes for table A] 



References to notes mean the notes of this synopsis. 

1 In general, nonresident aliens are required to 
file income tax returns for all taxable income from 
sources within the United States regardless of 
amount, unless total tax has been paid at source. 
For exceptions, see Treasury Decision 4791 — Regu- 
lations 94, amended to accord with the Revenue 
Act of 1937. 

2 (a) For the years 1913 through 1917, individuals 
were required to file returns on a calendar year 
basis, while for 1918 and subsequent years returns 
are permitted for a fiscal year other than that ending 
December 31. 

(ft) For the years 1913 through 1915, a citizen or 
resident of the United States whose net income was 
less than $20,000 and for whom a full return was 
made by withholding agent, was not required to 
file a return. 

(c) For 1921 and subsequent years, citizens deriv- 
ing a large portion of their gross income from sources 
within a possession of the United States are required 
to file returns for all income derived from sources 
within the United States, or income from sources 
within or without, the United States received within 
the. United States, regardless of amount. 

(d) For 1925 and subsequent years, American 
citizens who are nonresidents of the United States 
for more than 6 months of the year are not required 
to report earned income from sources without the 
United States, and are not required to file returns 
unless their gross income, exclusive of earned income. 
from sources without the United States, equals or 
exceeds $5,000; or unless their net income, exclusive 
of earned income, from sources without the United 
States, equals or exceeds the amount indicated in 
this table under "Individuals required to file re- 
turns." See also (c) above. For 1932 and subse- 
quent years, the exclusion from gross income of 
earned income from sources without the United 
States does not apply to amounts paid by the United 
States or any agency thereof. The compensation of 
resident alien employees of foreign governments is 
excluded from gross income under certain conditions. 
See sec. 116(h), Revenue Act of 1930, which subsec- 
tion(h) was added to sec. llfi. Revenue Act of 1934, 
by Public, No. 374, Seventy-fourth Congress, and 
which is retroactive, subject to the statutory period 
of limitation. 

(e) For 1936 and prior years, income from estates 
and trusts taxable to the fiduciary is required to be 
reported on the individual income tax return, Form 
1040, while income from estates and trusts not taxable 
to the fiduciary is required to be reported on the 
fiduciary return of income. Form 1041, the require- 
ments for filing being the same as for single persons. 
Beginning with 1937, all income from estates and 
trusts is required to be reported on the fiduciary 
income tax return, Form 1041, the requirements for 
filing being the same as for single persons exeunt 
that for 1938 all trusts having a net income of $100 
or more are required to file a return . See text pp. — . 

1 Husband and wife each to file a return unless 
combined income is included in ioint return. 

4 Not applicable to citizens deriving a large portion 
of their gross income from sources within a possession 
of the United States, 1921 and subsequent years. 
Such citizens are entitled to the personal exemntion 
shown in this table for nonresident aliens, 1921 and 
subsequent years. 

B Net income means "statutory" net income, i. e., 
the excess of gross income over deductions as defined 
in the various revenue acts. Net income has been 
adjusted from time to time as follows: 

(a) Amortization of buildings, machinery, equip- 
ment, or other facilities constructed or acquired on 
or after Apr. (i, 1917, for the production of articles 
contributing to the prosecution of t lie war is included 
to a reasonable amount in business deductions, 1918 
through 1921. 

(ft) Contributions to charitable and scientific 
organizations, etc., not exceeding 15 percent of the 
net income before deducting the contributions, are 
deductible for 1917 and subsequent years. For 
1938 and subsequent years, contributions are deduct- 
ible only if made to domestic organizations and paid 
during the taxable year; contributions of a partner- 



ship are deductible by the partners in their indi- 
vidual returns, not by the partnership. The deduc- 
tion for the combined amount of the pro rata share 
of the partnership contributions plus contributions 
made by the individual cannot exceed 15 percent 
of the net income reported on the individual return 
before deducting the contributions. For unlimited 
deduction of contributions see the various revenue 
acts, 1924 and subsequent years. 

(c)(1) Losses. — For the years 1913 through 1915, 
individual taxpayers were permitted to deduct 
losses actually sustained during the year, incurred 
in trade, or arising from fires, storms, or shipwreck, 
and not compensated for by insurance or otherwise; 
for 1916 and 1917. losses from "other casualty and 
from theft" were also allowed, as well as losses from 
transactions entered into for profit but not connected 
with trade or business to an amount not exceeding 
the profits arising therefrom. The Revenue Act of 
1918 removed the restriction on these latter losses, 
by permitting deduction of all losses sustained dur- 
ing the taxable year "if incurred in anv transaction 
entered into for profit." This provision remained in 
force through 1931. For 1921 and subsequent years, 
losses resulting from the sale of securities after Nov. 
23, 1921, are not deductible when substantially 
identical securities are acquired or reacquired within 
30 days before or after such transaction. For 1932 
and 1933, losses from sales or exchanges of stocks or 
bonds (other than capital assets, held for more than 
2 years— see table C, this synopsis— and other than 
bonds issued by a government or political subdivision 
thereof) are allowed only to the extent of the gain from 
sucu; sales or exchanges. See. 23(r)(2) of the Revenue 
Act of 1932 provides that any excess loss thus dis- 
allowed, computed without regard to any losses 
sustained during the preceding taxable year, is, to 
an amount not in excess of the taxpayer's net income 
for the taxable year in which the loss is sustained, 
considered as loss sustained in the succeeding tax- 
able year from sales or exchanges of stocks or bonds 
(other than capital assets); but this section was 
repealed by the -National Industrial Recovery Act 
fsec. 218(b)), effective as of Tan. 1, 1933, thereby 
limiting the application of losses from the sales or 
exchanges of stocks or bonds (other than capital 
assets) to gains from similar transactions during the 
same taxable year and prohibiting the carrying for- 
ward and application of such losses to gains from 
similar transactions in the succeeding taxable year. 
Under sec. 23(r)(3)S"of the Revenue Act of 1932, the 
limitation on the deduction of losses from sales 
or exchanges of stocks or bonds does not apply to 
neisons dealing in securities or carrying on the bank- 
ing business; but this section was amended by see. 
218(c), National Industrial Recovery Act, effective 
as of Jan. 1, 1933. by removing the exemption from 
the stock loss limitation allowed to persons carrying 
on the banking business, thereby limiting the appli- 
cation of losses from the sales or exchanges of stocks 
or bonds (other than capital assets) to gains from 
similar transactions and prohibiting the use of such 
losses to reduce income from other sources. Also, 
sec. 218(d) of the National Industrial Recovery Act 
amends, effective as of Jan. 1, 1933, sec. 182(a) of 
the Revenue Act of 1932 by removing the privilege of 
individual members of a partnership to reduce their 
individual net income by their proportionate share 
of a net loss incurred by the partnership through 
sales or exchanges of stocks or bonds (other than 
capital assets). Such a provision does not obtain for 
1934 and subsequent years. For these years, losses 
from wagering transactions are allowed, but only to 
the extent of the gains from such transactions. 

(c)(2) For 1934 and subsequent years, losses are not 
deductible when resulting from sales or exchanges of 
property, directly or indirectly between members of 
a family and (excel'! in case of distributions in liqui- 
dation) between an individual and a corporation in 
which such individual owns, directly or indirectly, 
more than 50 percent in value of the outstanding 
stock of the corporation. For 1937 and subsequent 
years, losses are not deductible when resulting from 
sales or exchanges of property between d) a grantor 
and a fiduciary of any trust, (2) a fiduciary of a 
trust and a fiduciary of another trust, if the same 
person is a grantor with respect to each trust, and 
(3) a fiduciary of a trust and a beneficiary of such 
trust. 



STATISTICS OF INCOME 



273 



(c)(3) For provisions concerning capital gains and 
losses, sec table C, pp. 276-279. 

(d) Net loss for prior year resulting from the opera- 
tion of any trade or business regularly carried on 
by tlic taxpayer: In the case of a net loss for any tax- 
able year beginning after Oct. 31, 1918, and ending 
prior to Jan. 1, 1920, the Revenue Act of 1918 provides 
for the deduction of such loss from net income of 
the preceding year, a redetermination of taxes 
for the preceding year being made. When. the net 
loss exceeds the net income for the preceding year, 
the amount of such excess is to be deducted from the 
net income of the succeeding taxable year. There 
was no "net, loss" relief provision for the year 1920. 
The Revenue Acts of 11)21 through 1928 provide that 
net loss in any year beginning after Dec. 31, 1920, 
may be deducted from the net income of the suc- 
ceeding taxable year, and if such net loss exceeds the 
net income for the succeeding year, the amount of 
such excess is to be allowed in the next succeeding 
year. Sections 23(i) and 117(d) of the Revenue, 
Act of 1932 provide that a net loss for the year 1930 
or 1931 shall be allowed as a deduction in computing 
net income for the next succeeding taxable year 
only; but these sections are repealed by section 218(a) 
of the National Industrial Recovery Act, effective 
as of Jan. 1, 1933, thereby removing the privilege of 
deducting from the net income for the current taxable 
year a net los,s for the preceding taxable year. There 
is no provision in the Revenue Acts of 1931 through 
1938 for deduction of net loss for prior year. (For 
net short-term capital loss carrv-over under Revenue 
Act of 1938 see table C, pp. 276-279.) 

(€) Net income of fiduciary income tax returns, 
1937 and subsequent years, means net income tax- 
able to the fiduciary. 

6 Estates and trusts are allowed the same exemp- 
tion as a single person, except trusts under Revenue 
Act of 1938. See note 19. 

7 No provision for head of family in Revenue Act 
of 1913. Exemption prorated for period Mar. 1 
through Dec. 31, 1913. 

* Credit allowed for each dependent under 18 years 
of age or incapable of self-support because mentally 
or physically defective. This credit is not applicable 
to citizens deriving a large portion of their gross income 
from sources within a possession of the United 
States, 1921 and subsequent years. 

" Net income subject to normal tax is all net income 
after deducting the sum of- 

(a) Personal exemption. 

(6) Credit for dependents, 1917 and subsequent 
years. 

(c) Dividends on stock of domestic corporations, 
1913 through 1935 (other than (1) corporations deriv- 
ing a large portion of their gross income from sources 
within a possession of the United States, 1921 through 
1935, and (2) China Trade Act corporations, 1922 
through 1935, and (3) corporations exempt from tax, 
1932 through 1935), and dividends on stock of foreign 
corporations receiving a certain amount of income 
from sources within the United States, 1913 through 
1933. For 1936 and subsequent years, no dividends 
are deductible. 

(d) Income, the tax upon which has been paid or 
withheld for payment at the source for the years 
1913 through 1917 

(e) Interest, not wholly tax exempt on United 
States obligations issued after Sept. 1, 1917, which 
is required to be included in gross income, and for 
1934 and subsequent years, interest on obligations 
of instrumentalities of the United States, as defined 
in sec. 25(a)(3), Revenue Act of 1934. 

(0 Credit of 10 percent of the amount of theearned 
net income, but not in excess of 10 percent of the 



entire net income for 1934 and subsequent years. 
(For the years 1924 through 1931, the earned income 
credit was a tax credit. See table C, p. 278.) 

10 Nonresident aliens are allowed the personal 
exemption ($1,000 if single; $2,000 if married) and the 
eredil fur each dependent ($200), only when the 
Country of which nonresident alien is a citizen either 
imposes no income tax or allows similar Credit to 
citizens of the United States not residing within 
such foreign country. 

" For net income in excess of $5,000. personal 
exemption is $2,000. 

12 For the years 1922 through 1935, if nonresident 
alienis resident of contiguous country (Canada or 
Mexico), $-100 credit is allowed for each dependent. 
For limitation applicable to 1936 and subsequent 
years, see note 17. 

'3 For the years 1922 through 1933, alien residents 
of contiguous countries (Canada or Mexico) on net 
income, attributable to compensation for labor or 
personal services actually performed in the United 
States, receive benefit of normal tax rate provided 
for United States citizens. For 1934 and 1935 the 
rate of normal tax is the same for all individuals, 
both resident and nonresident. See note 17(6). 

14 Tax for 1923 was reduced 25 percent by credit 
or refund under sec. 1200(a) of the Revenue Act of 
1924. 

" See Joint Resolution of Congress, No. 133, 
approved by the President Dec. 16, 1929, reducing 
rates of income tax for 1929. 

16 The National Industrial Recovery Act is not a 
complete taxing statute in itself, but merely amends 
and adds to the provisions of the 1932 Act. See 
note 5 (c)(1) and (d). 

17 (a) For 1936 and subsequent years, nonresident 
alien individuals not engaged in trade or business 
within the United States and not having an office or 
place of business therein at any time within the 
taxable year are not allowed any deductions or 
credits but are taxed upon the gross amount of 
fixed or determinable annual or periodical income 
from sources within the United States (excepting 
capital net gains) at the rate of 10 percent, except 
(1) that this rate shall be reduced in the case of a 
resident of a contiguous country, to such rate (not 
less than 5 percent) as may be provided by treaty 
with such country (by treaty with Canada, Aug. 
13, 1937, the rate was reduced to 5 percent retroactive 
to Jan. 1, 1936); and (2) for the year 1937 and subse- 
quent years, such nonresident aliens other than 
those affected by the treaty with Canada, if they 
report gross income of more than $21,600, are 
liable to the normal tax and surtax imposed by sees. 
11 and 12 of the Revenue Act of 1936 on such 
income, after allowance of deductions and credits 
allocable thereto: but the total tax thus computed 
shall not be less than 10 percent of the gross income. 

(/>) For 1936 and subsequent years, nonresident 
alien individuals who at, any time within the taxable 
year are engaged in trade or business within the 
United States or have, an office or place of businesss 
therein are allowed the deductions and credits pro- 
vided by sees. 213 and 214, Revenue Act of 1936, 
and are subject to the normal tax of 4 percent and 
the graduated surtax upon their net income from all 
sources within the United States. 

!8 The Revenue Act of 1937 is not a complete taxing 
statute in itself, but merely amends and adds to the 
provisions of the 1936 Act. See notes 1, 5(c)(2), and 
17(a). 

19 For trusts, $100 credit against net income sub- 
stituted for $1,000 personal exemption. See also 
note 6. 



274 



STATISTICS OF INCOME 
B. — Federal individual and fiduciary surtax rates and 



Net income > 










Revenue Act 
















1913 




1916 




1917 




1918 




1921 


Ex- 


Equal- 


On incomes for 


On incomes for 


On incomes for 


On incomes for 


On incomes for 


ceed- 


ing 


Mar. 1, 1913 




1916 




1917 


1918, 


1919, 1920, 


1922, 1923 i 


ing 




through Dec. 










and Act of 1921 










3 


, 1915 










on incomes for 
























1921 










Rate 




Rate 




Rate 




Rate 




Rate 




Thous 


ands of 


(per- 


Total 


(per- 


Total 


(per- 


Total 


(per- 


Total 


(per- 


Total 


dol 
4 


ars 

5 

6 

7.5 

8 
10 
12 
12.5 
13 
14 
15 
16 
18 
20 
22 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


5 










1 
1 
2 
2 
3 
3 
4 
4 
4 
5 
5 
5 
8 


$10 

25 

35 

75 

135 

150 

170 

210 

250 

300 

400 

500 

660 


1 
2 
2 
3 
4 
5 
5 
5 
6 
6 

8 
9 


$10 
40 
50 
110 
190 
215 
240 
290 
350 
410 
550 
710 
890 






6 










1 
1 
1 
2 
3 
3 
3 
4 
4 
5 
6 
8 


$15 
20 
40 

80 
95 
110 
140 
180 
220 
320 
440 
600 


7.5 










8 










10 










12 










12.5 










13 










14 










15 










16 










18 








20 




$20 




$20 


22 


24 




40 




40 


8 


820 


10 


1,090 


9 


780 


24 


26 




60 




60 


8 


980 


11 


1,310 


10 


980 


26 


28 




80 




80 


8 


1,140 


12 


1,550 


11 


1,200 


28 


30 




100 




100 


8 


1.300 


13 


1,810 


12 


1.440 


30 


32 




120 




120 


8 


1,460 


14 


2,090 


13 


1,700 


32 


34 




140 




140 


8 


1.620 


15 


2,390 


15 


2,000 


34 


36 




160 




160 


8 


1.780 


16 


2.710 


15 


2, 300 


36 


38 




180 




180 


8 


1,940 


17 


3, 050 


16 


2.620 


38 


40 




200 




200 


8 


2.100 


18 


3,410 


17 


2,960 


40 


42 




220 


2 


240 


12 


2,340 


19 


3,790 


18 


3,320 


42 


44 




240 


2 


280 


12 


2, 580 


20 


4,190 


19 


3,700 


44 


46 




260 


2 


320 


12 


2,820 


21 


4,610 


20 


4,100 


46 


48 




280 


2 


360 


12 


3.060 


22 


5,050 


21 


4,520 


48 


50 




300 


2 


400 


12 


3. 300 


23 


5,510 


22 


4,960 


50 


52 


2 


340 


2 


440 


12 


3.540 


24 


5.990 


23 


5, 420 


52 


54 


2 


380 


2 


480 


12 


3.780 


25 


6,490 


24 


5,900 


54 


56 


2 


420 


2 


520 


12 


4,020 


26 


7.010 


25 


6,400 


56 


58 


2 


460 


2 


560 


12 


4,260 


27 


7, 550 


26 


6,920 


58 


60 


2 


500 


2 


600 


12 


4,500 


28 


8,110 


27 


7,460 


60 


62 


2 


540 


. 3 


660 


17 


4. 840 


29 


8.690 


28 


8,020 


62 


64 


2 


580 


3 


720 


17 


5,180 


30 


9,290 


29 


8,600 


64 


66 


2 


620 


3 


780 


17 


5.520 


31 


9.910 


30 


9,200 


66 


68 


2 


660 


3 


840 


17 


5.860 


32 


10, 550 


31 


9,820 


68 


70 


2 


700 


3 


900 


17 


6,200 


33 


11.210 


32 


10,460 


70 


72 


2 


740 


3 


960 


17 


6,540 


34 


11, 890 


33 


11,120 


72 


74 


2 


780 


3 


1.020 


17 


6.880 


35 


12, 590 


34 


11,800 


74 


75 


2 


800 


3 


1,050 


17 


7,050 


36 


12. 950 


35 


12. 150 


75 


76 


3 


830 


3 


1,080 


17 


7,220 


36 


13,310 


35 


12. 500 


76 


78 


3 


890 


3 


1,140 


17 


7,560 


37 


14. 050 


36 


13, 220 


78 


80 


3 


950 


3 


1.200 


17 


7, 900 


38 


14,810 


37 


13, 960 


80 


82 


3 


1,010 


4 


1,280 


22 


8,340 


39 


15,590 


38 


14, 720 


82 


84 


3 


1.070 


4 


1,360 


22 


8,780 


40 


16, 390 


39 


15, 500 


84 


86 


3 


1,130 


4 


1,440 


22 


9,220 


41 


17, 210 


40 


16, 300 


86 


88 


3 


1,190 


4 


1,520 


22 


9.660 


42 


18, 050 


41 


17, 120 


88 


90 


3 


1,250 


4 


1,600 


22 


10, 100 


43 


18,910 


42 


17, 960 


90 


92 


3 


1,310 


4 


1.680 


22 


10,540 


44 


19.790 


43 


18, 820 


92 


94 


3 


1,370 


4 


1,760 


22 


10, 980 


45 


20. 690 


44 


19, 700 


94 


96 


3 


1,430 


4 


1,840 


22 


11,420 


46 


21,6111 


45 


20,600 


96 


98 


3 


1,490 


4 


1,920 


22 


11.860 


47 


22, 550 


46 


21,520 


98 


100 


3 


1,550 


4 


2,000 


22 


12, 300 


is 


23, 510 


47 


22, 460 


100 


150 


4 


3,550 


5 


4.500 


27 


25, 800 


52 


49, 510 


48 


46,460 


150 


200 


4 


5,550 


6 


7. .MID 


31 


41,300 


56 


77. 510 


49 


70,960 


200 


250 


4 


7, 550 


7 


11,000 


37 


59, 800 


60 


1117. .ill) 


50 


95,960 


250 


300 


5 


10, 050 


8 


15,000 


42 


80, 800 


60 


137.510 


50 


120, 960 


300 


400 


5 


15.0.50 


9 


24. 000 


46 


126,800 


63 


200, 510 


.-,() 


170,960 


400 


500 


5 


20. 050 


9 


33, 000 


4ii 


172, 800 


63 


263,510 


50 


220, 960 


500 


750 


6 


35, 050 


10 


58, 000 


50 


297, 800 


64 


423, 510 


50 


345, 960 


750 


1,000 


6 


50, 050 


10 


83, 000 


55 


435, 300 


64 


583. 510 


50 


170,960 


1,000 


1,500 


6 


SO, 050 


11 


138. 000 


61 


740,300 


65 


908, 510 


50 


7211. '.Mill 


1.500 


2,000 


6 


110,050 


12 


198.000 


62 


1, 050, 300 


65 


1,233.510 


50 


970, 960 


2,000 


5,000 


6 


290, 050 


13 


588. 000 


63 


2, 940. 300 


65 


3, 1X3. :,10 


50 


2, 470, 960 


5,000 




6 




13 




63 




65 




50 

















i In arriving at the net income subject to surtax for 1934 and subsequent years, the sum of the personal 
exemption and credit for dependents is allowed as a credit; prior to 1934 the entire net income was subject 
to surtax. 

- Tax for 1923 reduced 25 percent by credit or refuud under sec. 1200 (a) of the Revenue Act of 1924. 



STATISTICS OF INCOME 
total surtax under the Revenut Acts of 1918 through 19S8 



275 



Net income 1 










Rev 


enue Act 
















1924 


L926 




1932 




1934 


1936 and 1938 ' 


Eica d 


Equal- 


On incomes for 


On incomes for 


On incomes for 


On incomes for 


On incomes for 


ing 


ing 




1924 


1925, 192C. I'.r.'T. 


1932. 1933 


1931, L935 


1936, 


1937, 1938 










and Act of 1928 






















on incomes for 






















1928 through 






















1931 


















Rate, 




Rate 




Rate 




Rate 




Rate 




Thousu 


nds of 


(per- 


Total 


(per- 


Total 


(per- 


Total 


(per- 


Total 


(per- 


Total 


doll 


nrs 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


4 


5 














4 


$40 


4 


$40 
80 


5 
6 


6 

7.5 














4 

5 


80 

155 


4 

5 










1 


$15 


155 


7.5 


8 










1 


20 


5 


180 


5 


180 


8 


10 










1 


40 


6 


300 


6 


300 


10 


12 


1 


$20 


1 


$20 


2 


80 


7 


440 


7 


440 


12 


12.5 


1 


25 


1 


25 


3 


95 


8 


480 


8 


480 


12.5 


13 


1 


30 


1 


30 


3 


110 


8 


520 


8 


520 


13 


14 


1 


40 


1 


40 


3 


140 


8 


600 


8 


600 


14 


15 


2 


60 


2 


60 


4 


180 


9 


690 


9 


690 


15 


16 


2 


80 


2 


80 


4 


220 


9 


780 


9 


780 


16 


18 


3 


140 


3 


140 


5 


320 


11 


1,000 


11 


1,000 


18 


20 


4 


220 


4 


220 


6 


440 


13 


1,260 


13 


1,260 


20 


22 


5 


320 


5 


320 


8 


600 


15 


1,560 


15 


1,560 


22 


24 


6 


440 


6 


440 


9 


780 


17 


1,900 


17 


1,900 


24 


26 


7 


580 


7 


580 


10 


980 


17 


2,240 


17 


2,240 


26 


28 


8 


740 


7 


720 


11 


1,200 


19 


2, 620 


19 


2,620 


28 


30 


9 


920 


8 


880 


12 


1,440 


19 


3. 000 


19 


3, 000 


30 


32 


10 


1.120 


8 


1,040 


13 


1,700 


19 


3, 380 


19 


3, 380 


32 


34 


10 


1,320 


9 


1,220 


15 


2,000 


21 


3,800 


21 


3,800 


34 


36 


11 


!, 540 


9 


1,400 


15 


2,300 


21 


4,220 


21 


4.220 


36 


38 


12 


1,780 


10 


1,600 


16 


2,620 


21 


4,640 


21 


4,640 


38 


40 


13 


2. 040 


10 


1,800 


17 


2,960 


24 


5,120 


24 


5,120 


40 


42 


13 


2,300 


11 


2, 020 


18 


3,320 


24 


5, 600 


24 


5,600 


42 


44 


14 


2,580 


11 


2, 240 


19 


3, 700 


24 


6, 080 


24 


6,080 


44 


46 


15 


2,880 


12 


2,480 


20 


4. 100 


27 


6,620 


27 


6,620 


46 


48 


16 


3,200 


12 


2.720 


21 


4,520 


27 


7.160 


27 


7,160 


48 


50 


17 


3,540 


13 


2,980 


22 


4,960 


27 


7,700 


27 


7,700 


50 


52 


18 


3,900 


13 


3,240 


23 


5,420 


30 


8,300 


31 


8,320 


52 


54 


19 


4,280 


14 


3,520 


24 


5,900 


30 


8,900 


31 


8,940 


54 


56 


19 


4,660 


14 


3,800 


25 


6,400 


30 


9,500 


31 


9,560 


56 


58 


20 


5,060 


15 


4,100 


26 


6,920 


33 


10.160 


35 


10, 260 


58 


60 


21 


5,480 


15 


4,400 


27 


7,460 


33 


10, 820 


35 


10, 960 


60 


62 


21 


5, 900 


16 


4,720 


28 


8,020 


33 


11,480 


35 


11,660 


62 


64 


22 


6,340 


16 


5, 040 


29 


8,600 


36 


12,200 


39 


12, 440 


64 


66 


23 


6,800 


17 


5, 380 


30 


9, 200 


36 


12, 920 


39 


13, 220 


66 


68 


24 


7,280 


17 


5,720 


31 


9, 820 


36 


13, 640 


39 


14, 000 


68 


70 


25 


7,780 


17 


6, 060 


32 


10, 640 


39 


14, 420 


43 


14, 860 


70 


72 


26 


8,300 


18 


6,420 


33 


11, 120 


39 


15, 200 


43 


15,720 


72 


74 


26 


8,820 


18 


6,780 


34 


11,800 


39 


15, 980 


43 


16, 580 


74 


75 


27 


9,090 


18 


6,960 


35 


12, 150 


42 


16, 400 


47 


17, 050 


75 


76 


27 


9,360 


18 


7,140 


35 


12,500 


42 


16, 820 


47 


17,520 


76 


78 


28 


9, 920 


18 


7,500 


36 


13,220 


42 


17, 660 


47 


18, 460 


78 


80 


28 


10, 480 


18 


7,860 


37 


13,960 


42 


18, 500 


47 


19, 400 


80 


82 


29 


11,060 


19 


8,240 


38 


14,720 


45 


19, 400 


51 


20, 420 


82 


84 


30 


11,660 


19 


8,620 


39 


15, 500 


45 


20, 300 


51 


21,440 


84 


86 


31 


12, 280 


19 


9,000 


4(1 


16,300 


45 


21,200 


51 


22, 460 


86 


88 


31 


12,900 


19 


9,380 


41 


17, 120 


45 


22, 100 


51 


23, 480 


88 


90 


32 


13, 540 


19 


9,760 


42 


17,960 


45 


23, 000 


51 


24, 500 


90 


92 


33 


14,200 


19 


10, 140 


43 


18,820 


50 


24, 000 


55 


25,600 


92 


94 


34 


14,880 


19 


10, 520 


44 


19,700 


50 


25, 000 


55 


26, 700 


94 


96 


35 


15, 580 


19 


10, 900 


45 


20, 600 


50 


26, 000 


55 


27, 800 


96 


98 


36 


16,300 


19 


11,280 


46 


21, 520 


50 


27, 000 


55 


28, 900 


98 


100 


36 


17, 020 


19 


11,660 


47 


22, 460 


50 


28,000 


55 


30, 000 


100 


150 


37 


35, 520 


20 


21, 660 


48 


46,460 


52 


54,000 


58 


59, 000 


150 


200 


37 


54, 020 


20 


31,660 


49 


70, 960 


53 


80,500 


60 


89, 000 


200 


250 


38 


73, 020 


20 


41, 660 


50 


95, 960 


54 


107, 500 


62 


120, 000 


250 


300 


38 


92, 020 


20 


51,660 


50 


120, 960 


54 


134, 500 


64 


152, 000 


300 


400 


39 


131,020 


20 


71, 660 


51 


171,960 


55 


189, 500 


66 


218, 000 


400 


500 


39 


170,020 


20 


91, 660 


52 


223, 960 


56 


245, 500 


68 


286, 000 


500 


750 


40 


270, 020 


20 


141, 660 


53 


356, 460 


57 


388, 000 


70 


461, 000 


750 


1,000 


40 


370, 020 


20 


191, 660 


54 


491, 460 


58 


533, 000 


72 


641, 000 


1,000 


1, 500 


40 


570, 020 


20 


291, 660 


55 


766, 460 


59 


828, 000 


73 


1, 006, 000 


1,500 


2,000 


40 


7711.020 


20 


391,660 


55 


1, 041, 460 


59 


1, 123, 000 


73 


1,371,000 


2,000 


5,000 


40 


1, 970, 020 


20 


991,660 


55 


2, 691, 460 


59 


2, 893, 000 


74 


3, 591, 000 


5,000 




40 




20 




55 




59 




75 















J Not applicable to all nonresident alien individuals. See note 17(6), p. 273. 



276 STATISTICS OF INCOME 

C. — Federal individual and fiduciary supplemental income and profits 









Capital gains and losses ' 




Reve- 
nue Act 


Income 
year 


Definition of 
capital assets 


Tax on capital net gain 10 


Tax credit for capital net loss 2 


1921 


1922, 1923 


Property 


Taxpayer may elect to be taxed at 


None. (There is no provision 






held for 


12^2 percent on capital net gain, 


for "capital net loss" in the 






profit or 


provided that the total tax, in- 


Revenue Act of 1921. What 






invest- 


cluding the tax on capital net 


is called "capital net loss" in 






ment for 


gain, is not less than 12J>2 percent 


later acts is treated as ordi- 






more than 


of the total net income. (Loss in 


nary loss under the 1921 Act 






two years 


ordinary net income cannot be de- 


and is deductible from ordi- 






(whether 


ducted from capital net gain.) 


nary income.) 






or not con- 










noci e d 










with trade 










or busi- 










ness) ex- 










cept stock 










in trade 










or other 










property 










w h i c h 










would be 










included 










in inven- 










tory. 3 






1924 


1924 


do.-i 


Taxpayer may elect to be taxed at 
12^2 percent on capital net gain, if 
the tax would be greater than 12J-2 
percent by including capital net 
gain in ordinary net income. 
(Loss in ordinary net income may 
be deducted from capital net gain 
and the balance taxed at 12H> per- 
cent.) 


Capital net loss may be re- 
ported apart from ordinary 
net income, and a tax credit 
of 12H percent of the capital 
net loss taken, if tax thus pro- 
duced is not less than the tax- 
would be if the capital net 
loss were deducted from ordi- 
nary income. 


1926 


1925, 1926. 
1927 


do.* 


Same as 1924 Act 


Same as 1924 Act. 


1928 


1928, 1929, 
1930, 1931 


do>__.. 


...do.... 


Do. 


1932 


1932, 1933 


do.*,.. 


do 


Do. 


1934 


1934, 1935, 


All prop- 


Capital gains and losses are com- 


None. (See preceding column 


1936 


1936, 1937 


e r t y. 


puted on basis of certain percent- 


for deduction of capital net 


1937 « 




whether 
or not 
connected 
with trade 
or busi- 
ness, re- 
gardless of 
period 
held, ex- 
cept stock 
in trade 
or other 
property 
which 
would be 
included 
in inven- 
tory. 4 ° 


ages 7 which vary according to the 
holding period of the assets in- 
volved. Capital net gains, after 
the percentages are applied, are 
included in net income and are 
subject to normal tax and surtax. 
Deduction for capital net loss (af- 
ter the percentages 7 are applied, 
and after subtracting the amount 
of capital gain) is limited to $2,000 
or the actual amount of capital 
net loss, whichever is less. 


loss.) 



For footn >tes, see p. 279. 



STATISTICS OF INCOME 277 

tax rates and credits, under the Revenue Acts of 1917 through 1938 



Capital gains and losses ] 



Reve- 
nue Act 



Income 
year 



Definition of 
capital assets 



All prop- 
e r t y , 
whether 
or not 
connected 
with trade 
or busi- 
ness, re- 
gardless of 
p e r i o d 
held, ex- 
cept stock 
in trade 
or other 
property 
which 
would be 
included 
inl inven- 
tory. < 3 



Tax on capital net gain * 



Capital gains and losses are divided 
into two classes: (a) Short-term 
capital gains and losses resulting 
from sale or exchange of capital 
assets held IS months or less; 
(b) Long-term capital gains and 
losses resulting from sale or ex- 
change of capital assets held more 
than 18 months. A net short- 
term capital gain is fully taxable; 
a net short-term capital loss may 
not be deducted from any income 
for the taxable year, but may be 
carried forward to the succeeding 
taxable year (in amount not in ex- 
cess of the net income for the year 
in which the loss is sustained) and 
applied against short-term capital 
gains not already offset by short- 
term capital losses in such suc- 
ceeding year. Only certain per- 
centages" 9 of the recognized long- 
term capital gain or loss are 
taken into account in computing 
net income. A long-term capital 
loss is deductible without limita- 
tion, except for the application of 
the alternative tax. Alternative 
methods for computation of tax 
are provided in the case of net 
long-term capital gain and loss. 
In case of net long-term capital 
gain (after percentages 9 are ap- 
plied) the tax is either <«> normal 
tax and surtax on net income in- 
cluding net long-term capital 
gain, or (6) normal tax and surtax 
on net income without regard to 
long-term capital gain, plus 30 
percent of the net long-term capi- 
tal gain— whichever tax is less. 
Conversely, in ease of net long- 
term capital loss (after percent- 
ages 9 are applied), the tax is 
either ('/) normal tax and surtax 
on net income after deducting net 
long-term capital loss, or (b) nor- 
mal tax and surtax on net income 
without regard to net long-term 
capital loss, minus 30 percent of 
net long-term capital loss — which- 
ever is greater. 



Tax credit for capital net loss « 



30 percent of net long-term cap- 
ital loss, if such credit pro- 
duces Mi,, greater amount of 
tax. (See preceding column.) 



278 STATISTICS OF INCOME 

C- — Federal individual and fiduciary supplemental income and profits tax 



Excess-profits tax 


Tax credit for income 


and profits taxes paid to 


foreign countries or I nited States possessions 


Reve- 
nue Act 


Income 
year 


Income subject to excess- 
profits tax 


Rate 
(per- 
cent) 


Reve- 
nue Act 


Income year 


Amount of credit 


1917 


1917 


Salaries in excess of $6,000 i° 
and income in excess of 
$6,000 lu from business hav- 
ing no invested capital. 
Net income from business 
having invested capital. " 
Net income equal to 15 
percent of invested 
capital less deduction. 12 
Net income in excess of 
15 percent of invested 


8 

20 
25 


1917 


19)7 


Income and profits taxes 
paid to foreign coun- 
tries or United States 
possessions were not 
allowed as a tax credit 
but were included in 
general deductions 
from gross income, ex- 
cept that taxes paid to 
foreign countries were 
not allowed to nonres- 




capital but not in 








ident aliens. 






excess of 20 percent 




1918 


1918, 1919, 


Amount paid or accrued. '« 






of invested capital. 






1920 








Net income in excess of 


35 


1921 


1921 


Do. 14 






20 percent of invested 




1921 


1922, 1923 is 


Do.n 






capital but not in ex- 




1924 


1924 


Do.» 






cess of 25 percent of 














invested capital. 














Net income in excess of 


45 


1926 


1925, 1926, 


Do." 






25 percent of invested 






1927 








capital but not in ex- 




1928 


1928. 1929, 


Do.n 






cess of 33 percent of in- 






1930, 1931 








vested capital. 




1932 


1932, 1933 


Do. 1 * 






Net income in excess of 


60 


1934 


1934, 1935 


Do. 16 






33 percent of invested 














capital. 




1936 

1938 


1936, 1937 

1938 


Do.ie 
Do.'« 



Earned income credit 



Reve- 
nue Act 


Income 
year 


Kind of credit 


Earned net income subject to tax 


Limit of credit 


1924 
1926 

1928 
1932 


1924 

1925, 1926, 
1927 

1928, 1929, 
1930, 1931 

1932, 1933 
1934, 1935 
1936, 1937 

1938 


Against tax. 
do.. 

do 


All net income up to $5,000 
whether earned or not, and up 
to $10,000, if earned. 

All net income up to $5,000 
whether earned or not, and up 
to $20,000, if earned. 

All net income up to $5,000 
whether earned or not, and up 
to $30,000, if earned. 


25 percent of normal tax on earned 
net income. (Cannot exceed 25 
percent of normal tax on ordinary 
net income.) 

25 percent of total tax on earned net 
income. (Cannot exceed the sum 
of 25 percent of normal tax on or- 
dinary net income and 25 percent 
of surtax on earned net, income.) 
Do. 


1934 
1936 

1938 


\Against net 
J income. 

do 


All net income up to $3,000 
whether earned or not, and up 
to $14,000, if earned. 

do 


10 percent of the earned net income, 
but not in excess of 10 percent of 
the entire net income. 
Do. 











STATISTICS OF INCOME 



279 



rates and credits, under the Revenue Acts of 1917 through 1.938 — Continued 



1 Prior to the Revenue Act of 1921 there was no 
distinction made between ordinary annual profits 
and the profits from the sale of assets owned for a long 
period of time. By the Revenue Act of 1921, the term 
"capital gain" means taxable gain, and the term 
"capital loss" means deductible loss, resulting from 
the sale or exchange of capital assets consummated 
after Dec. 31, 1921. 

2 For definitions, see section 206, Revenue Act of 1921 ; 
208, Revenue Acts of 1924 and 1926; 101, Revenue 
Acts of 1928 and 1932; 117, Revenue Acts of 1934, 
1936, and 1938. 

s And, for 1921 through 1923 except property held 
for personal use or consumption. 

4 And except property held primarily for sale in 
ordinary course of business or trade. (Real-estate 
dealers are therefore denied the benefits of the capi- 
tal net gain provisions.) 

s The Revenue Act of 1937 is not a complete taxing 
Statute in itself, but merely amends and adds to the 
provisions of the Revenue Act of 1936. 
«See last part of note 5(c)(2), table A, p. 272. 
7 The following percentages of gains or losses recog- 
nized upon sale or exchange of capital assets are taken 
into account in computing net income, 1934 through 
1937: 

100 percent if capital asset was held not over 1 

year. 
80 percent if capital asset was held over 1 year, 

but not over 2 years. 
60 percent if capital asset was held over 2 years, 

but not over 5 years. 
40 percent if capital asset was held over 5 years, 

but not over 10 years. 
30 percent if capital asset was held over 10 
years. 
s And except property used in trade or business of 
a character which is subject to allowance for depreci- 
ation. 

9 For 1938 the following percentages of the gain or 
loss recognized are to be taken into account in com- 
puting net income: 

100 percent if the asset was held for 18 months 

or less. 
66?S percent if held more than 18 months and 

not more than 24 months. 
50 percent if held more than 24 months. 

10 In excess of $3,000 for nonresident aliens. 

11 Nonresident aliens having business with invested 
capital, reported only that proportion of invested 



capital which net income from sources within the 
United States was of the entire net income. 

1 'Deduction (not allowable to nonresident aliens), 
$6,000 plus an amount equal to the same percentage 
of invested capital for taxable year as the average 
annual pre-war income was of pre-war invested capi- 
tal (not less than 7 percent nor more than 9 percent). 
If not established during at least 1 whole year of the 
pre-war period, 8 percent. If, during the pre-war 
period, the individual had a deficit or a very small 
income from business, or if invested capital cannot 
be determined, same percent as that of representa- 
tive businesses. (See sec. 210, Revenue Act of 1917). 

13 Nonresident aliens were not allowed to deduct in- 
come taxes paid to foreign countries, either as a tax 
credit or in general deductions for the years 1918, 
1919, and 1920. 

14 Beginning with 1921, the credit cannot exceed the 
proportion of the total tax against which the credit 
is taken, that the taxpayer's net income from sources 
without the United States bears to the entire net in- 
come. This credit does not apply to nonresident 
aliens nor to citizens deriving a large portion of their 
gross income from sources within a possession of the 
United States, but to such persons these taxes are 
allowable as a deduction from gross income, if im- 
posed upon income from sources within the United 
States. For the years 1921 through 1931, the amount 
of income and profits taxes paid to foreign countries 
or United States possessions, in excess of that de- 
ducted as a tax credit, is permitted to be included in 
deductions against gross income. (See note 16.) 

:5 Tax for 1923 reduced 25 percent by credit 'or refund 
under section 1200(a) of the Revenue Act of 1924. 

16 For 1932 and subsequent years, the taxpayer may 
elect to credit the income and profits taxes paid to 
foreign countries or United States possessions (with 
certain limitations) against the income tax liability 
to the United States, or to include the entire amount 
of such taxes in deductions against gross income, ex- 
cept that nonresident aliens and citizens deriving a 
large portion of their gross income from sources 
within a possession of the United States are not 
entitled to claim the tax credit but may include the 
amount of such foreign taxes, if imposed upon income 
from sources within the United States, in deductions 
against gross income. (See sees. 131 and 23(c)(2), 
Revenue Act of 1932 and subsequent acts.) 

"There was no provision for earned income credit 
in the Revenue Act of 1932. 



280 



STATISTICS OF INCOME 



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STATISTICS OF INCOME 



281 



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282 



STATISTICS OF INCOME 



E. — Federal gift tax rates, total gift tax, specific exemption, exclusions and deductions 
under the Revenue Acts of 19'£4, 1932, and 1932 as amended by 1934 and 1935 > 













Revenue Act 












1924 


1932 2 


1932 = 


1932 1 






its amended by 






as amended hy 


as amended by 


Met ?ifts 




1926 








1934 


1935 






In effect 


In effect 


In effect 


In 


effect 






June 2, 1924, 


June 


7, 1932 3 


calendar year 


calendar year 






through 


through 




1935 


1936 and 






Dec. 31, 1925 


Dec 


31, 1934 






subsequent years 


Exceeding 


Equaling 


Rate 
(per- 
cent) 


Amount 
of tax 


Rate 

i per- 
cent) 


Amount 
of tax 


Rate 
(per- 
cent) 


Amount 

of 1 ax 


Rate 

(per- 
cent) 


Amount 
of tax 




$10. 000 


1 


$100 


% 


$75 


% 


$75 


VA 


$150 


$10,000 


20, 000 


1 


200 


VA 


225 


Wi 


225 


3 


450 


20, UOO 


30, 000 


1 


300 


VA 


450 


2' 4 


450 


4% 


900 


30, 000 


40,000 


1 


100 


3 


750 


3 


750 


6 


1. 500 


40. 001) 


50,00(1 


1 


500 


3M 


1,125 


3% 


1,125 


7% 


2, 290 


50, 000 


70, 000 


2 


900 


5 


2,125 


5H 


2,175 


9 


4, 050 


70,000 


Kill. Ill 10 


2 


1,500 


5 


3. 625 


Wi 


4.200 


10% 


7, 200 


100, 000 


150.000 


2 


2.500 


m 


6,875 


9 


8, 700 


12% 


13, 575 


150,000 


•.'OII.OIIO 


3 


4, 000 


&A 


10, 125 


9 


13.200 


12% 


19, 950 


200, 000 


250, 000 


3 


5,500 


8 


14, 125 


12 


19. 200 


15 


27, 450 


250, 000 


400, 000 


4 


11,500 


8 


26, 125 


12 


37,200 


15 


49, 950 


100,000 


450.000 


4 


13, 500 


W2 


30, 875 


14% 


44. 325 


17J4 


58, 575 


450, 000 


000.000 


6 


22, 500 


VA 


45. 125 


14% 


65, 700 


17' 4 


84, 450 


000, 000 


750. 000 


(i 


31.5(H) 


li 


61.625 


16^ 


90. 450 


19.1^ 


1 13, 700 


750, 000 


800. 000 


8 


35, 5(H) 


n 


67. 125 


16% 


98.700 


mi 


123.450 


800, 000 


1,000,000 


8 


51. 500 


12H 


92. 125 


18% 


136, 200 


21% 


166, 950 


1, 000, 000 


1,500,000 


10 


101.5(H) 


14 


162. 125 


21 


241.200 


24 


286, 950 


1,500,000 


2, 000, 000 


12 


161, 500 


15A 


230, 625 


23kT 


357, 450 


26% 


418, 200 


2. 000, 000 


2, 500, 000 


14 


231. 500 


17 


324. 625 


25% 


484. 950 


28% 


560, 700 


2, 500, 000 


3, 000, 000 


14 


301, 500 


18V3 


117. 125 


27?i 


623. 700 


30% 


714, 450 


3, 000, 000 


3, 500, 000 


16 


381, 500 


20 


517, 125 


30 


773, 700 


33 


S79. 450 


3, .500. 000 


4. 000, 000 


10 


461, 500 


21H 


624, 625 


32% 


934, 950 


35% 


1, 055. 700 


4, 000, 000 


4, 500, 000 


18 


551. 500 


23 


739, 625 


34i 2 


1, 107, 450 


37% 


1.243.200 


4, 500, 000 


5, 000, 000 


18 


641. 500 


24J/2 


862, 125 


36 


1,287.450 


39% 


1.441.950 


5, 000, 000 


6, 000, 000 


20 


841. 500 


26 


1, 122, 125 


37% 


1, 662, 450 


42 


1.861,950 


• 6, 000, 000 


7, 000, 000 


20 


1,041,500 


27^ 


1,397. 125 


39 


2, 052, 4.50 


4414 


2, 304, 450 


7. 000, 000 


8, 000, 000 


20 


1,241,500 


29 


1,687. 125 


40% 


2, 457, 450 


45% 


2. 761, 950 


8, 000, 000 


9, 000, 000 


22 


1,461.500 


30' 2 


1,992, 125 


42 


2. 877. 450 


4714 


3. 234, 450 


9, 000, 000 


10, 000, 000 


22 


1,681.500 


32 


2,312, 125 


43% 


3, 312, 450 


48% 


3, 721, 950 


10, 000, 000 


20, 000, 000 


25 


4, 181.51 K) 


33Mi 


5,662,125 


45 


7,812.450 


5014 


8, 746. 950 


20, 000, 000 


50, 000, 000 


25 


11,681.500 


■AVA 


15.712.125 


45 


21,312.450 


51% 


24.271.950 


50, 000, 000 




25 




3VA 




45 




52% 













Revenue Act 



Specific exemption, exclusions and deductions 



1024 as amended by 1926_ 



1932 and 1932 as amended 
by 1934. 



1932 as amended by 1935... 



Specific exemption: 

Resident: $50,000 each calendar year. 

Nonresident: None. 
Gifts to individuals not in excess of $500. J 
Previously taxed property and charitable, etc.. gifts. 
Specific exemption: 

Resident or citizen: $50,000 allowed but once: may be taken all in 1 year 
or over a period of years at option of donor. 

Nonresident alien: None. 
Exclusion of $5,000 for each donee (except future interests).' 
Charitable, public, and similar gifts. 
Specific exemption: 

Resident or citizen: $40,000 allowed but once; may be taken all in 1 year 
or over a period of years at option of donor. 

Nonresident alien: None. 
Exclusion of $5,000 for each donee (except future interests). 4 
Charitable, public, and similar srifts. 



1 (lift tax returns are required to be ftled for the year ending Dec. 31. 

2 Tax for current year is the excess of tax computed on the aggregate sum of net gifts for such current year 
and preceling years over tax computed on aggregate sum of net gifts for preceding years. 

' No gift tax in effect, Jan. 1, 1926, through June 6, 1932. 

• While the specific exemption is QOl allowable t<> nonresident aliens, they are entitled to the exclusion for 
each doner. 



INCOME TAX FORMS 



283 



299429 — 41 19 



FACSIMILES OF INDIVIDUAL INCOME TAX RETURNS, 
FIDUCIARY INCOME TAX RETURN, AND PART- 
NERSHIP RETURN OF INCOME FOR 1938 



Form 1040A. Individual income tax return for net incomes of not 
more than $5,000 derived from salaries, wages, dividends, interest, 
and annuities. 

Form 1040. Individual income tax return for net incomes of more 
than $5,000 from salaries, wages, dividends, interest, annuities, and 
incomes from other sources regardless of amounts. 

Form 1041. Fiduciary income tax return (for estates and trusts). 

Form 1065. Partnership return of income (filed also by syndicates, 
pools, joint ventures, etc.). 

285 



286 



STATISTICS OF INCOME 



Treasury Department 



FORM 1040 A 



Internal Revenue Service 



UNITED STATES 

1938 INDIVIDUAL INCOME TAX RETURN 1938 



(Auditor's Stamp) 



FOR NET INCOMES OF NOT MORE THAN $5,000 

DERIVED FROM SALARIES, WAGES, DIVIDENDS. 
INTEREST, AND ANNUITIES 

(BEFORE PREPARING THIS RETURN, READ THE 
INSTRUCTIONS CAREFULLY) 



To be Med with the Colli 



I for your dislrirl on or Mote MarHi IS, 19M 



PRINT NAME AND HOME OR RESIDENTIAL ADDRESS PLAINLY BELOW 
(Name) (Use given names of bo lb husband and wife, if a joint return) 

(Sir eel and number, or rural route) 
(Post office) (County) (Stale) 



Do not write in these space 



(Cashier's Stamp) 



Cnsn-Check-M. O. 



l-SS"nN.. INCOME 

1. Salaries and other compensation for personal services. (From Schedule B) 

2. Dividends_ 

3. Interest on bank deposits, notes, mortgages, etc _ 

4. Interest on corporation bonds 

5. Income from annuities 

6. Total income in items I to 5 

DEDUCTIONS 

7. Contributions paid. (From Schedule C)_ 

8. Interest paid. (From Schedule D) _ _ 

9. Taxes paid. (From Schedule E) 

10. Other deductions. (From Schedule F) 

11. Total deductions in items 7 to 10. 

COMPUTATION OF TAX 

12. Net income (item 6 minus item 1 1)_ _ _ 

13. Less: Earned income credit. (From Schedule G-t or c-2) ,. I $.. 

14. Personal exemption. (From Schedule a-i) _ 

15. Credit for dependents. (From Schedule A-2) | 

16. Balance of net income taxable (item 12 minus items 13, 14, and 15) 

17. Income tax (4% of item 16) 



18. Less: Income tax paid at source on tax-free covenant bonds 

19. Income tax paid to a foreign country or United States possession. (AtuchFom. ni6). 

20. Balance of tax (item 17 minus items 18 and 19) _ 



Schedule A EXPLANATION OF 


CREDITS CLAIMED IN ITEMS 14 AND IS. ,See In. 




ction. 14 a 


tdlS) 






(1) Poron.l Exemption 


(Z) Credit to 


Dep.nd.nt. 




Stilus 


Number of 

" YeL in '"" 
E«chSt.tu. 


Credit Claimed 


Nome 1 Dependent tad Relationship 


Number of Months 
During the Yeu 


Credit Claimed 


Under 18 
Ye.r. Old 


Over 18 
Ye.r. Old 


Single, or married and not living 




$ 










$ 




Married and living with husband 


















Head of family (explain below) 
































Reason for support 

if over 18 years old 







NOTE. — One form marked "DUPLICATE COPY" must be filed with this original return ($5 will be assessed if duplicate copy it not filed) 



STATISTICS OF INCOME 



287 



Schedule B.— INCOME RECEIVED FROM OTHERS CONSISTING OF SALARIES. WAGES, FEES, AND OTHER COMPENSATION 
FOR PERSONAL SERVICES. (Sec. Instruction 1) 



I. N»me *r-J Addie** ai Employer wd Nature oi Income 


1 Amount 


3. Expense* Paid (Itemize) 


4. Amount 


~ " 


$ 




— 


$ ~ 






























$ 




Schedule C— CONTRIBUTIONS PAID. (Se* Instruction 7) 


Schedule D.— INTEREST PAID. (See Instruction 8) 


i. Njmt »nd Address of OrgaruXAtion 


1 Amount 


1. To Whom Paid 


2. Amount 




$ 






$ 








































Schedule E.-TAXES PAID. (See Instruction 9) 


Schedule F.— OTHER DEDUCTIONS. (See Instruction 10) 


1. Nature of T« 


2. Amount 


1. Description 


2. Amount 




$ 






$ 







































Schedule G.— COMPUTATION OF EARNED INCOME CREDIT. (Se. Instruction 13) 



Net income (item 12, page 1) _ 

Earned income credit (10% of net income, 
above) _ - 



! (item 1, page 1) (not I 



Earned net i 
$14,000).. 

Net income (item 12, page 1) 

Earned income credit (10% of earned net income or 
net income, above, whichever amount is smaller, 
but do not enter less than $300) 



Schedule H.— NONTAXABLE INCOME. (Seo Instruction 6) 


1. OUigstions or Securities 


2. Amount Owned 
»t End of Yesr 


3. Interest 
Received 


4. Other Exempt Income 
(State nature) 


5. Amount 
Received 




$ 




$ 






$ 

















































1. What is your occupation? 

2. Check whether you are a citizen D or a resident alier 

3. If you filed a return for 1937, to which Collector's offici 



QUESTIONS 

4. Are items of income or deductions of both husband and wife included in 

this return? (See Instruction A) 

5. State name of husband or wife if a separate return was made and the 

Collector's office to which it was sent: 



AFFIDAVIT. (See Instruction D) 
I/we swear (or affirm) that this return has been examined by me/us, and, to the best of my /our knowledge and belief, is a true, 
correct, and complete return, made in good faith, for the taxable year stated, pursuant to the Revenue Act of 1938 and regulations issued 
under authority thereof; and that this form (Form 1040 A) was used because I/we had no income from sources other than stated hereon. 



Subscribed and swom to by 

before me this day of . 



(Signature end title o! oftcer admmisteiing osth) 

A RETURN MADE BY AN ACENT MUST BE ACCOMPANIED By POWER 
OF ATTORNEY. (See lostmliw. D) 




(Signsture) (See In 



288 



STATISTICS OF INCOME 



INSTRUCTIONS FOR FORM 1040A 

1938 UNITED STATES I NDIVIDUAL INCO ME TAX RETURN 1938 

Taxpayers will find it helpful to read general instructions (A) to (H) before commencing to fill 
in their returns, and to read specific instructions in connection with filling in the items to which 
they refer. 

(References «re lo (he Re?enue Act ol 1938, unless otherwise noted) 

GENERAL INSTRUCTIONS 



(A) WHO MUST MAKE A RETURN 

For each taxable year a return of income shall be made by 
each citizen of the United States, whether residing at home or 
abroad, and every individual residing within the United States 
though not a citizen thereof, whether or not he is the head of a 
family or has dependents — t 

(1) If single or married and not living with husband or wite 
for anv part of the taxable year, and if — 

(a) having for the taxable year a gross income (as denned 
in sections 22 and 116) of $5,000 or over; or ,.-.,. 

(6) having for the taxable year a net income (as denned in 
section 21) of $1,000 or over. ...-*,. 

(2) If married and living with husband or wife for the entire 
taxable year, if no joint return is made, and if— 

(a) having for the taxable year a net income of $2,o00 or 
over or a gross income of $5,000 or over (regardless of the 
amount of the net income), and the other spouse has no gross 
income; or . , - ,, 

(b) such individual and his or her spouse each has tor the 
taxable year a gross income (regardless of the amount of the 
net income) and the aggregate net income of the two is 5-2,500 
or over; or «.!_*«. 

(c) such individual and his or her spouse each has tor the 
taxable year a gross income (regardless of the amount of the 
net income) and the aggregate gross income is $5,000 or over. 

(3) If married and living with husband or wife for any part 
of the taxable year, but not at the close thereof, or if married 
and living with husband or wife at the close of the taxable year, 
but not during the entire taxable year, if no joint return is 
made, and if — 

(a) having for the taxable year a net income equal to, or in 
excess of, the credit allowed him or her by section 25(b)(1) 
and (3) (computed without regard to any credit to which he 
or she may be entitled as the head of a family (see Specific 
Instructions 14 and 15)), or a gross income of $5,000 or over 
(regardless of the amount of the net income) and the other 
spouse has no gross income; or 

(6) such individual and his or her spouse each has for the 
taxable year a gross income (regardless of the amount of the 
net income), ana the aggregate net income of the two is equal 
to, or in excess of, the credit allowed them by section 25(b) (1) 
and (3) (computed without regard to any credit to which either 
or both may be entitled as the head of a family (see Specific 
Instructions 14 and 15)) ; or 

(c) such individual and his or her spouse each has for the 
taxable year a gross income (regardless of the amount of the 
net income), and their aggregate gross income is $5,000 or over. 

A husband and wife, if living together at the close of the taxable year, may 
elect to make a joint return, that is. to include in a single return made by 
them jointly th^- income and deductions of each, even though one has no gross 
income. In such a case, the tax shall be computed on the aggregate income 
and all deductions and credits to which eithe,- is entitled shall be taken from 
such aggregate income. The liability with respect to the tax shall be joint 
and several. If one spouse dies prior to the last day of the taxable year, the 
surviving spouse may not include the income of the deceased spouse in a joint 
return for such taxable year. A joint return may not be made if either the 
husband or wife is a nonresident alien- 
Returns of income of decedents. — If the net income of a decedent to the 
date of his death was $l,w.io or over, if unmarried, or equal to or in excess of 
the credit allowed him by section 25<b) (1) and (3) (computed without regard 
to his status as the head of a family), if married and living with spouse, or if 
his gross income for the period was 15.000 or over, the executor or adminis- 
trator shall make r. return for him on Form 1040 or 1040A. The return for a 
decedent shall include all items of income and deductions accrued up to the 
date of death regardless of the fact that the decedent may have kept his books 
on a cash basin or kept no book:? 

Returns for estate* and trusts must be made on Form 1041. 

(B) WHO MUST USE FORM 1040A 

Form 1040A must be used by all individuals whose net income 

is not more than $5,000, whose income is derived from salaries. 

wages, or other compensation received from others for personal 

services, dividends, interest, taxable income from annuities, and 

who make returns on the cash basis and for the calendar year. 

Note. — Form 1040 and not Form 1040A must be used 

by individuals (1) whose net income exceeds $5,000, or 

(2) who have any income other than that stated above, 

such as rents or gains from the sale of property, or (3) who 

make returns on an accrual basis, or (4) who make returns 



for a fiscal year, or (5) who conduct a business or profes- 
sion on their own account, or (6) who have any losses from 
the renting of or from the sale of property, including 
shares of stock, corporate bonds, and other corporate secu- 
rities. Nonresident alien individuals are required to use 
Form 1040B or 1040NB. 
(C) WHEN AND WHERE THE RETURN MUST BE FILED 
The return must be sent to the collector of internal revenue 
for the district in which the taxpayer has his legal residence, 
so as to reach the collector's office on or before March 15, 1939. 
In case the taxpayer has no legal residence in the United States 
the return should be forwarded to the Collector of Internal 
Revenue, Baltimore, Md. 

(D) AFFIDAVIT 

The affidavit must be executed by the person whose income is 
reported or by his legal representative or agent. The return 
may be made by an agent (1) if, by reason of illness, the person 
liable for the making of the return is unable to make it, or (2) if 
the taxpayer is unable to make the return by reason of continu- 
ous absence from the United States for a period of at least 60 
days prior to the date prescribed by law for making the return. 
Whenever a return is made by an agent it must be accompanied 
by a power of attorney on Form 935, or, in the case of husband 
and wife, on Form 936 (copies of which may be obtained from 
any collector). 

The oath or affirmation will be administered without charge 
by any collector, deputy collector, or internal revenue agent. If 
an internal revenue officer is not available, the return should be 
sworn to before a person authorized to administer oaths for 
general purposes by the law of the United States or of any 
State, Territory, or possession of the United States, or of the 
District of Columbia, wherein such oath or affirmation is admin- 
istered, except an attorney or agent employed to represent the 
taxpayer before the Department in connection with his tax 
liability. 

(E) WHEN AND TO WHOM THE TAX MUST BE PAID 

The tax may be paid by sending or bringing with the return 
a check or money order drawn to the order of "Collector of 
Internal Revenue." Do not send cash by mail, nor pay it in 
person except at the collector's office. 

The tax must be paid in full when the return is filed, or in 
four equal installments, as follows: The first installment on or 
before March 15, 1939; the second installment on or before 
June 15, 1939; the third installment on or before September 15, 
1939; and the fourth installment on or before December 15,1939. 

If any installment is not paid on or before the date fixed for 
payment, the whole amount of tax unpaid shall be paid upon 
notice and demand by the collector. 

(F) PENALTIES 

The law imposes severe penalties for failing to make a return, 
or for making a false or fraudulent return. Penalties are also 
imposed for failing to file a return on time. 

(G) ITEMS EXEMPT FROM TAX 

All items of income received and claimed lo be exempt from 
tax should be explained in Schedule H. 

The following items are exempt from Federal income tax, 
except as indicated, and should not be included in gross income: 

(a) Amounts received under a liTe insurance contract paid by reason of 
the death of the insured, whether in a single sum or in installments (but if 
such amount* are held by the insurer under an agreement to pay interest 
thereon, the interest payments shall be included in gross income) : 

(M Amounts received (.other than amounts paid by reason of the death 
of the insured and interest payments on such amounts and other than 
amounts received as annuities) under a life insurance or endowment contract, 
but if such amounts (when added to amounts received before the taxable 

paid (whether >.r not paid during the taxable scar), th.-n the excess shall be 
reported in item 6 ; 

(r) Gifts (not received as a consideration for service rendered) and money 
and property acquired by bequest, devise, or inheritance (but the income 
derived from such property is taxable and must be reported) : 

(H) Interest upon (1) the obligations of a State. Territory, or any political 
subdivision thereof, or the District of Columbia or United Stales | 
or (2) obligations issued under the provision* of the Federal Fan 



STATISTICS OF INCOME 



289 



urdr. 






nstr 



tided . 



ntnl ' 



3) the obligations of the United States : 



or under such Act as 
on bonds. Home Owners' 
.ration bonds, etc. The interest on United States Savings Bonds 
ry Bonds, owned in excess of $5,000. and on obligations of inatru- 
_. of the United States (other than obligations issued under Federal 
Loan Act or under such Act as amended) is subject to surtax if the 
< net income Is over 54.000: 
(e) Dividends on share accounts in Federal savings and loan associations. 
( if the surtax net income is over 

health insurance or under work- 
for personal injuries or sickness, 
whether by suit o 



and Tr« 



ich dividends 
$4,000. 

(/) Amounts received through ; 

plus the amount of any damages 



unt of ; 

{g) The rental value of a dwelling house and appurten. 
tshed to a minister of the gospel as part of his compensa 
(M Compensation paid by a State or political subdivii 



npt from Federal i 



endered if : 
jived by veter; 



'he United State* 
the United Stales by the family of a veteran for 
vices rendered by the veteran to the United States in time of war; and 
;) Amounts received as earned income from sources Without the United 
tes (except amounts paid by the United States or any agenc\ thereof) bj 
individual citizen of the United States who is a. bona fide nonresident for 
re than 6 months during the taxable year. The taxpayer in such a case 
y not deduct from his gross income any amount properly allocable to or 



mount required to be included m your gross income by section 
ned 5 percent or more in value of the outstanding stock of 
et forth in an attached statement in complete detail the infor- 



SPECIFIC INSTRUCTIONS 



The following instructions are numbered to correspond with 
item numbers on the first page of return: 

1. Salaries and other compensation for personal services.—- 

Enter as item 1 the total income received from others consisting 
of salaries, wages, fees, and other compensation for personal 
services, less ordinary and necessary expenses, as reported in 
Schedule R. Any amount claimed as a deduction for ordinary 
and necessary expenses against salaries, etc., such as traveling 
expenses while away from home in connection with your occu- 
pation, should be fully explained in Schedule B or in an 
attached statement. Traveling expenses ordinarily include 
expenditures for transportation, meals, and lodging. The 
expenses of a commuter in traveling to and from work are not 
deductible. 

If a joint return, enter as separate items in Schedule B earn- 
ings of each spouse. Earnings of minor children should also 
be entered in Schedule B, if parent is legally entitled to such 
earnings. 

2. Dividends.— Enter as item 2 the total of all taxable divi- 
dends received from domestic and foreign corporations. Enter 
in Schedule H all dividends received which are claimed to be 
nontaxable. 

3. Interest on bank deposits, etc. — Enter as item 3 the total 
of all interest on bank deposits, notes, mortgages, etc. Interest 
on savings bank deposits is considered income to the depositor 
when credited, even though not entered on the pass book. 

4. Interest on corporation bonds. — Enter as item 4 the total 
of all interest received on bonds, mortgages, and similar obli- 
gations of corporations. Include bond interest received upon 
which a 2 percent Federal income tax was paid at the source; 
such tax may be claimed as a credit in item 18 of the return. 

5. Income from annuities. — Enter as item 5 amounts received 
as an annuity under an annuity or endowment contract to the 
extent of 3 percent of the aggregate premiums or consideration 
paid for such annuity. If the aggregate of the amounts re- 
ceived and excluded from gross income in years previous to the 
taxable year equals the aggregate premiums or consideration 
paid for such annuity, the entire amount received must be 
included in gross income. 

6. Total income.— Enter as item 8 the total amount of items 
1 to 5. Schedule H should be filled in if you received any non- 
taxable income or if you owned any of the obligations described 
in paragraph (d) of General Instruction (G). 

DEDUCTIONS 

7. Contributions paid. — Enter as item 7 the contributions or 
gifts reported in Schedule ■ C, payment of which was made 
within the year to or for the use of: 

(a) The United States, any State. Territory, or any political subdivision 
thereof, or the District of Columbia, for exclusively public purposes; 

(b) A domestic corporation, or domestic trust, or domestic community chest, 
fund, or foundation, organized and operated exclusively for religious, charita- 
ble, scientific, literary, or educational purposes, or for the prevention of cruelly 
to children or animals, no part of the net earnings of which inures to the 
benefit of any private shareholder or individual, and no substantial part of the 
activities of which is carrying on propaganda, or otherwise attempting, to 
influence legislation ; 

(c) The special fund for vocational rehabilitation authorized by section 12 
of the World War Veterans 1 Act 1924 . 

Id) Posts or organizations of war veterans, or auxiliary units or societies 

societies are organized in the United States or any of its possessions, and it" no 
part of their net earnings inures to the benefit of any private shareholder or 
individual; or 

(e) A domestic fraternal society, order, or association, operating under the 
lodge system, but only if such contributions or gifts are to be used exclusively 
for religious, charitable, scientific, literary, or educational purposes, or for the 
prevention of cruelty to children or animals. 

The total amount claimed shall not exceed 15 percent of your 
net income computed without the benefit of this deduction. 

8. Interest paid.— Enter as item 8 the amount reported in Schedule D as 
interest paid on personal indebtedness. Do noc include interest on indebted- 
ness incurred or continued to purchase or carry obligations (other than obli- 
gations of the United States issued after September 24. 1917. and originally 



;cribed for by I 
Taxes paid. 



which is wholly exempt fro 

reported in Schedule E 
vear. Do not include sal 
idly imposed upon you by law 1*0 nol inclu 



shareholder of a corporation which »vc uaid 
bursement from you. Tax withheld or paid 
Security Act for or in behalf of the employ* 
not deductible by the employee. No deducl 

10. Other deductions. 



Enter as item 10 the I 
ule F. In the case of loss by fire, storm, shipwreck, o 
from theft, set forth in Schedule F a description of th. 



■i section si" J" the Social 
. Federal income tax and is 
allowable for any portion 



nt itemized in Sched- 



debts (other than 



tind deductible 



llowable since acquisi- 
loss. In the case of bad 
thless during the taxable 



year, state in Schedule F. (a) of what the debts 

relationship, if anv. of the debtor, (e) when th< 

they became due, (r) what efforts were made to collect, and [/) how they were 
actually determined Lo be worthier. Losses from woi thlessness of securities. 
including Kinds and stocks, are considered as losses from the sale or exchange 
Of securities. If you sustained such a loss, you should not make your return 
on Form 1010A but should use Form 1040 and report the loss in Schedule F. 

Loss.es from wagering transactions are allowable only to the extent of the 
gains during the year from such transactions. 

No deduction is allowable for the amount of any item of expense or part 
thereof allocable to a class of exempt income, other than interest. 

COMPUTATION OF TAX 

13. Earned income credit. — Enter as item 13 the amount of 
earned income credit, as computed in Schedule G. 

The earned income credit allowable to each spouse in a joint 
return is the same as is allowable to each spouse in separate 
returns; however, the earned income, earned income deductions, 
earned net income, and net income of each spouse must be 
shown separately in the joint return. For the purpose of de- 
termining the 10 percent limitation indicated in Schedule G 
there should be added to the net income shown as item 12 on 
page 1 the interest received by you, if any, on an aggregate in 
excess of $5,000 principal amount of United States Savings 
Bonds and Treasury Bonds; and the interest on obligations of 
instrumentalities of the United States (other than obligations 
issued under the Federal Farm Loan Act, or under such Act as 
amended), and dividends on share accounts in Federal savings 
and loan associations, reported in Schedule H. 

14, 15. Personal exemption and credit for dependents. — A sin- 
gle person, or a married person not living with husband or wife, 
is entitled to a personal exemption of $1,000. A person who, 
during the entire year, was the head of a family or was married 
and living with husband or wife is entitled to an exemption of 
$2,500. If husband and wife file separate returns, the personal 
exemption may be taken by either or divided between them. 

A "head of a family" is an individual who actually supports 
and maintains in one household one or more individuals who 
are closely connected with him by blood relationship, relation- 
ship by marriage, or by adoption, and whose right to exercise 
family control and provide for these dependent individuals is 
based upon some moral or legal obligation. 

In addition to the personal exemption, a credit of $400 may 
be claimed for each person (other than husband and wife) 
under 18 years of age, or incapable of self-support because 
mentally or phvsically defective, who received his or her chief 
support from the taxpayer. This credit may be allowed only to 
the person who furnishes the chief support, and may not be 
divided between two individuals. 

If the status of the taxpayer, insofar as it affects the personal 
exemption or credit for dependents, changes during the taxable 
year, the personal exemption and credit shall be apportioned in 
accordance with the number of months before and after such 
change. For the purpose of such apportionment a fractional 
part of a month shall be disregarded unless it amounts to mora 
than half a month, in which case it shall be considered as a 
month. For example, if a child became 18 years of age on 
June 16, 1938, the taxpayer will be allowed a credit of $200 for 
such dependent. 

U S.GQWEflNMfcKt PRIMING OFFICE 19 38 — P- 963*1 



290 



STATISTICS OF INCOME 



Treasury Department 



FORM 1040 

UNITED STATES 



Internal Revenue Service 



1938 INDIVIDUAL INCOME TAX RETURN 1938 



FOR NET INCOMES OF MORE THAN $5,000 FROM SAURIES, WAGES, 

DIVIDENDS, INTEREST, ANNUITIES, AND FOR INCOMES FROM 

OTHER SOURCES REGARDLESS OF AMOUNTS 

For Calendar \ear 1938 

or fiscal year beginning _ , 1938, and ended , 1939 

(Before Preparin g This Return, Read the Instructions Carefully) 

To be filed with lie CoDedor of Inlemal Revenue for your district not later than the 15lh day of the third 

month following the close of yonr [arable year 

PRINT NAME AND ADDRESS PLAINLY (Se« Instruction E) 



(Name) (Uie giien mm, el both hueband and wile, i 
(Street and numLar, or rural route) 



(Do not use these spaces. 



Cash -Check— M. O. 



1. Salaries and other compensation for personal services, (From Schedule A).. 

2. Dividends 



3, Interest on bank deposits, notes, mortgages, etc - 

4. ' Interest on corporation bonds 

5. Taxable interest on Government obligations, etc. (From Schedule B) _ 

6. Income (or loss) from partnerships, syndicates, pools, etc. (other than capital gains or losses). 

(Furniih name, and addreaiea): 



: from fiduciaries. (Furnieh n 



Rents and royalties, (From Schedule o_ _ 

Income (or loss) from business or profession. (From Schedule D) _ 

(a) Net short-term gain from sale or exchange of capital assets. (From Schedule F) 

(o) Net long-term gain (or loss) from sale or exchange of capital assets. (From Schedule F) 

(c) Net gain (or loss) from sale or exchange of property other than capital assets. (Fro 

Schedule C) 

Other income (including income from annuities). (State nature; uee eeperate echedule if neceesary) 

Total income in items 1 tO II. (Enter nontaxable income in Schedule I) „ 

DEDUCTIONS 

Contributions paid. (Explain in Scheduler!) 

Interest. (Explain in Schedule H) 

Taxes. (Explain in Schedule H) 

Losses from fire, storm, shipwreck, or other casualty, or theft. (Explain in Schedule H) 

Bad debts. (Explain in Schedule H)._ 

Other deductions authorized by law. (Explain in Schedule m 

Total deductions in items 13 to 18 



Net income (item 12 l 



; item 19) 



COMPUTATION OF TAX 



21. Net income (item 20 above). 

22. Less: Personal exemption. 

(From Schedule J-l) 

23. Credit for dependents. 

(From Schedule J-2) 

24. Balance (surtax net 

25. Less: I. 

26. 



(See Instruction 25) 

Earned income credit. 

(From Schedule K-l or K-2). 



27. Balance subject to 1 



al tax 



28. Normal tax (4% of item 27)_ 

29. Surtax on item 24. (See Iratraction 29) 

30. Total (item 28 plus item 29) 

3 1 . Total tax (item 30, or if you had a net long- 

term capital gain or loss, enter line 16, Sched- 
ule F) __ 

32. Less: Income tax paid at 



source - $.. 

Income tax paid to a lorcgn 
■"■"" country or U.S. poaaeaaion. 

(Attach Form 1 Il6) |__ 

34. Balance of tax (item 31 minus items , 



NOTE.— One form marked "DUPLICATE COPY" must be filed with this original return ($5 will be assessed if duplicate copy is not filed) 



STATISTICS OF INCOME 



291 



Schedule A.— INCOME RECEIVED FROM OTHERS CONSISTING OF SALARIES, WAGES, FEES, AND OTHER 
COMPt NSATION FOn PERSONAL SERVICES. (See Inetruction 11 




1. Nam, and .ddre„ ol employe, and nature of income 


iAmoum 


>. Eapenae. (aoiK) 


<«— 




$- 
















































J - 





Schedule B.— INTEREST ON GOVERNMENT OBLIGATIONS, 


ETC. (See Instruction 5) 






1. Obligation, or Neuritis. 


you™'"^"""n«*Vh.re°of''."h n ob1iw- ! 
""hip,. orYouSrTr. tniu'lund. 


). Intern! received or 
accrued during the year 


«. Were,! 
•umpt.frorn 


'■.TSraSK." 


(a) Obligations of a State. Territory, or political subdivision thereof, or the 

District of Columbia, or United Slates possessions 

(j) Obligations issued under Federal Farm Loan Act, or under such Act 


$ 




$ - 




All 

All 

All 

All 

* 


$ 


" 














(«0 Treasury Notes. Treasury Bills, and Treasury Certificates of Indebted- 
























(fl Obligations ol instrumentalities of the United States (other than 












(j) Total (enter as item 5. page !)_.. 


$ 





Schedule C— INCOME FROM RENTS AND ROYALTIES. 


(See- 


Instruction 8) 






1. Kind of property 




3. Depreciation (captain 
in Schedule t) 


4. Repairs 
(eipl.in below) 


5. Other expense* 
(itembe belo.) 


6. Net profit (column 2 minus 
■urn of column. 3. 4. and S) 

<•"» - "•■ 8. pa*= 1) 




$ $ 




$ 




$ 




$.... 









































Explanation of deductions 
claimed in columns 4 and 5 . 



Schedule P.— PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION. (See Instruction 9) 



1. Total receipts (state nature of businc 

COST OF COODS SOLD 

2. Labor 

}. Material and supplies 

4. Merchandise bought lor sale 

5. Other costs (itemize below) , 

6. Plus inventory at beginning of year.. 

7. Total (lines 2 to 6) 

8. Less inventory at end of year 

9. Net cost of goods sold (line 7 mini 



OTHER BUSINESS DEDUCTIONS 



iness indebtedness 

less and business property, 
i below) 



11. Interest on bi 

12. Taxes on bui 

13. Losses (expla 



14. Bad debts arising from sales or servJi 

15. Depreciation, obsolescence, and deplc 

in Schedule E) 

16. Rent, repairs, and other expenses (itemize below 

or on separate sheet) 



I (etplai 



17. Total (lines 10 to 16). 

18. Total deductions (line 9 plus line 17).. 

19. Net profit (or loss) (line I minus line 18) (ei 



Explanation of deductions 
claimed in lines 5, 13, and 


6 - 




Schedule E.— EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED IN SCHEDULES C, D, F, AND G 


1. Kind of property 
""co'iutrucud"" " 


1 D.r. 
aeouired 


3. Con or other basis 


4. Assets fully depre- 
°* oTytL" 


5. Depreciation at 
lowed (or atlo-ablc) 


6. Remaining cost or 
other basi. to be 


7. Estimated 

Me u.H in 


8. Estimated 


■BowaUcthtt 














$ 




$ 








$ 
























































































292 



STATISTICS OF INCOME 



Schedule F.— CAINS AND LOSSES FROM SALES OR EXCHANGES OF CAPITAL ASSETS. (See Instruction 10) 



SohUMN 5 







SHORT-TERM CAPITAL GAINS AND LOSSES— ASSETS HELD NOT MORE THAN 18 MONTHS 
















, 




i 




$ 




$ 




$ .... 




100 

100 
100 

ion 


$ 






























































































Tct 


il net short-tern 








$ 





LONG-TERM CAPITAL CAINS AND LOSSES— ASSETS HELD FOR MORE THAN 18 MONTHS BUT NOT FOR MORE THAN 24 MONTHS 









$ 




$ 


.... $ 




$ 




$ 




66";! 
66" , 
66J4 


S 










































































Li 








LONG-TERM CAPITAL GAINS AND LOSSES— ASSETS HELD FOR MORE THAN 24 MONTHS 












i I_ 


$ 




$ 


$ 


...J$ | 


50 
50 
50 
HI 






































































Tola! net long-term 


capital gain c 


r loss (enter i 


, line 2, column 


2.o 


summary belo 


«) 




$ 





SUMMARY OF CAPITAL NET GAINS OR LOSSES 



1. CI.Mlfie.lion 


1 Net gain or loo to be taken into 
.ccount from column 10. above 


3. Net gain or 1o>. lo be taken into 
account from partner.l.p. and "common 


4. Tol.l net pin o, 1™ to be taken 

i.l.iu,.,i,.„l™, 7and3ol 




C.n 


LoM 


Cam 


Lom 


Cam L.a, 


1. Total net short-term capital gain or loss (enter as item 10 (c). 
page 1. amount of gain shown in column 4) 


$ 


$ 


_ 


$ 


= 


s 




$ 


aliov,abl. <S.-e 
-..- Instruct,., n |Q) 


2. Total net long-term capital gain or loss (enter as item 10 (i). 


$ J.... 


$ 


$ 


$ 


J 


J. !.... 



S!;<tc the fcmily. fiduciary, or business relationship to you, ij any, of purchaser of any of the aboce items: 
If any of the above items ivere acquired by you other than by purchase, explain fully hou! acquired: 



(To be 



1. Net income (item 20. page 1) 

2. (a) Net long-term capital gain (item 10 (o). page I).. 
(S) Net lons-tcrm capital loss (item 10(c). page 1)... 

3. Ordinary net income (line I minus line 2 («) or lit, 

line 2 (*» 

4. Less: Personal exemption. (From Schedule 

J-D 

5. Credit lor dependents. (Frcm Sched- 

ule J-2) 



6. Balance (surtax net income)..- 

7. Less: Interest on Government obligations, 

etc. (See Instruction 25.) 

8. Earned income credit. (From Sched- 

lileK-l orK-2) 

9. Balar 



ubject t 



10. Normal tan (4% of line 9)_ 

11. Surtax on line 6 (See Instruction 29) 

12. Partial tax (line 10 plus line II) 

13. (a) 30%of net long-term capital gain (30% of line2(e,)). 

(J) 30 % of net long-term capital loss (30 % ol line 2(4)) . 

14. Alternative tax (line 1 2 plus line I 3 (u) or line 12 minus line 

I3(«) 



otal normal tax and surtax (item 30, page I) 

ax liability (if a net long-term capital gain, on line 2 (a), 
enter line 14 or line 15. whichever is the lesser; 'if a net 
long-term capital loss, on line 2 (i). enter line 14 or line 
15. whichever is the greater). (Enter as item 31. page I) 





2. Date acou.reJ 


3 Cro,. sale, price 
(contract price) 


4. Con or other 
basil 


5. Expemeof =ale and cost 
of improvement. »ub»e- 

Mirch 1, 1913 


6. Depreciation allowe- 

or March 1. fyll 
(e.pl.m in Schedule 


l(or 
E) 


7. Cain or Ion (column 3 

pin. column 6 minus lie 
.urn ol column. 4 and ',) 






$ 




$ 


$ 




$ 




















































Total net B ain (or lots) (enter as item 10 (c). page 1) 


* !-- 



State the family, fiduciary, or business relationship to you, ij any, of purchaser of any of the aboce items: 
If any of the aboie items were acquired by you other than by purchase, explain fully how acquired: , 



STATISTICS OF INCOME 



293 



Schedule H.— EXPLANATION OF DEDUCTIONS CLAIMED IN ITEMS 13, 14, 15, 16, 17, AND 18 



Schedule I. — NONTAX AB1 E INC ( VI' OTHER TIUN INTEREST REPORTED IN SCHEDULE B. (See In.truction 12) 



Schedule J.— EXPLANATION OF CREDITS CLAIMED IN ITEMS 22 AND 23. (See 


nstructions 22 and 23) 




(1) Personal Exemption 


(2) Credit for Dependents 


Suiui 


Number of 
Etch lUtlll 


« — 


Nunc of dependent »nd tcktionahip 


Number Of n,.*, during 1 


mtd 


Under IB 
yon old 


0v„ 1« , -'" < " , C " 


Single, or married and not fiving with hus- 




$ 








$ 

































































if over 18 years old 



Schedule K.— COMPUTATION OF EARNED INCOME CREDIT. (See In 



<1) If your net incon 



r lees, use only this part 



: than 93,000. use only this part 



Net income (item 20, page 1) 

Earned income credit (10% of net income, 
above) 



Earned net income (not more than $I4,000)_. 

Net income (item 20, page 1) 

Earned income credit (10% of earned net income 
or net income, above, whichever amount is 
smaller, but do not enter less than $300) 



1. State your principal occupation or profession.. 

2. Check whether you are a citizen □ or a resident alien Q. 

3. If you filed a return for the preceding year, to which Collector's 

office was it sent? 

4. Are items of income or deductions of both husband and wife in- 

cluded in this return? (See Instruction A) 

5. State name of husband or wife if a separate return was made; per- 

sonal exemption, if any. claimed thereon; and the Collector's 



QUESTIONS 



office to which it was sent . 



6. Check whether this return was prepared on the cash □ or 

accrual Q basis. 

7. Did you at any time during your taxable year own directly or 

indirectly any stock of a foreign corporation or a personal hold- 
ing company as defined by section 402? (Answer "yes" or 

"no") (If answer is "yes," attach schedule 

required by Instruction M.) 



AFFIDAVIT. (See Instruction F) 

I/we swear (or affirm) that this return (including any accompanying schedules and statements) has been examined by me/us, and to the 
best of my/our knowledge and belief is a true, correct, and complete return, made in good faith, for the taxable year stated, pursuant to the 
Revenue Act of 1936 and the regulations issued under authority thereof. 

Subscribed and sworn to by 

before me this day of , 193... 



(Signature) (See In.t 



(II this is a joint return (not made by agent), it must be signed 
by both husband and wife. It must be sworn to before a proper 
officer by the spouse preparing the return. If neither or both pre- 
pare the return, it must be sworn to by both spouses.) 



AFFIDAVIT. (See Instruction F) 

(If this return was prepared for you by some other person, the following affidavit must be executed) 
I/we swear (or affirm) that I/we prepared this return for the person or persons named herein and that the return (including any accom- 
panying schedules and statements) is a true, correct, and complete statement of all the information respecting the income tax liability of the 
person or persons for whom this return has been prepared of which I/we have any knowledge. 



Subscribed and sworn to before me this 

of.... 193... 



_ day 



(Signature of pcrtort p 



fSifMr-jrc »rxf title of officer adnunufer>n( oath) 



(Nunc of t rm or employer, if any) 



294 



STATISTICS OF INCOME 



1938 



INSTRUCTIONS FOR FORM 1040 
UNITED STATES INDIVIDUAL INCOME TAX RETURN 



1938 



n their returns, and to read Specific Instruc- 
Act of 1938. unless otherwise noted.) 



GENERAL INSTRUCTIONS 



A. WHO MUST MAKE A RETURN.— For each taxable year a 
return of income shall be made by every citizen of the United States, 
whether residing at home or abroad, and every individual residing 
within the United States though not a citizen thereof, whether or not 
he is the head of a family or has dependents — 

1. If single or married and not living with husband or wife for any part of the taxable 



(o) having for the taxable j 



c (as defined in sections 22 and 116) of $5,000 



s made, and if— 

(a) having fa 

iver (regardless . 

(b) such i 



le year a net income or $2,500 or over or a gross income of $5,000 or 
or tne amount of the not income*, am? the other spouse h:is no gross income; or 
vidual and his or her spouse each has for the taxable year a gross income 
a amount of the net income) and the aggregate net income of the two is $2,500 



r her ?pmi.;e each ha- fur the tavihle year a gross iucm 
et income) and the aggregate gross income is 1V*ii> or n\ 
. husband or wife for uny part <>'. I he Livable ya it, tut i 



or her by section 25(b) (1) and (3) (comp 
may be entitled ->s the he: " ' 
of $5,000 or over (regardlej 



e credit allowed hln 



e head ofa family (« 



(rsgaxdli ss ol I he .i 

regard to any c 
"peciflc Inslruc 
(e) such individual 



Specific Instruction 

(e) such ir 
[regardless I 



.band and wife, if li 



.■turn -"■ iM (1.) and (.;.■ nrmpuied wilhnut 
iay be entitled as the head of a family (see 



ii made by them jointly the it 



nd all deduct i( 



taken from sua h ag| regatc nu^me J"l-. *■ ] ibmu « iih !■■■■ p. ■< t 
several, ir one spouse dies prior to the last day of the taxab 
may not include the income M the deceased spouse in a joint 



A joint return may not be made ir either the husband 

B. WHO MUST USE FORM 1040.— Form 1040 must be used by 
all individuals (except nonresident aliens), who are required to make 
returns and (1) whose net income is more than $5,000, or (2) whose 
income, regardless of amount, includes any item other than salaries or 
other compensation received from others for personal services, dividends, 
interest, and taxable income from annuities, or (3) whose return is 
made on an accrual basis, or (4) whose return is made for a fiscal year. 

All other individuals, except nonresident aliens, required to make 
returns shall use Form 1040A. Nonresident aliens are required to use 
Form 1040B or Form 1040NB. 

C. RETURNS OF INCOME OF DECEDENTS.— If the net 
income of a decedent to the date of his death was $1,000 or over, if 
unmarried, or equal to or in excess of the credit allowed him by section 
25 (b) (1) and (3) (computed without regard to his status as the head 
of a family), if married and living with spouse, or if his gross income 
for the period was $5,000 or over, the executor or administrator shall 
make a return for him on Form 10*0 or Form 1040A. The return for 
a decedent shall include all items of income and deductions accrued up 
to the date of death (except deductions under section 23(o)) regardless 
of the fact that the decedent may have kept his books on a cash basis 
or kept no books. 

Returns of income of estates and trusts must be made on Form 1041. 

D. PERIOD TO BE COVERED BY RETURN.— Calendar year 
1938 or 6scal year beginning in 1938 and ended in 1939. 

The established accounting period must be adhered to for all years, 
unless permission is received from the Commissioner to make a change. 
An application for a change in the accounting period shall be made on 
Form 1128 and forwarded to the collector prior to the expiration of 30 
days from the close of the proposed taxable year. 

E. WHEN AND WHERE THE RETURN MUST BE FILED.— 
On or before the 15th day of the third month following the close of 
your taxable year with the collector of internal revenue for the district in 
which you live or have your principal place of business. In case you have 
no legal residence or place of business in the United States, the return 
should be forwarded to Collector of Internal Revenue, Baltimore, Md. 

Your home or residential address should be given in the space pro- 
vided at the top of the first page of the return. If you have a perma- 
nent business address, that address may be given as the principal or 
mailing address, provided that the complete home or residential address 
is also given. 

F. AFFIDAVITS.— The affidavit must be executed by the person 
whose income is reported or by his legal representative or agent. The 
return may be made by an agent (1) if, by reason of illness, the person 
liable for the making of the return is unable to make it, or (2) if the 
taxpayer is unable to make the return by reason of continuous absence 
from the United States for a period of at least 60 days prior to the date 
prescribed by law for making the return. Whenever a return is made 
by an agent, it roust be accompanied by a power of attorney on Form 
935, or, in the case of husband and wife, on Form 936 (copies of which 
may be obtained from any collector of internal revenue). 



Whe 



the return is actually prepared by some person or persons 
other than the taxpayer, such person or persons must execute the 
affidavit at the foot of page 4 of the return. 

The oath or affirmation will be administered without charge bv any 
collector, deputy collector, or internal revenue agent. If an internal 
revenue officer is not available, the return should be sworn to before 
a person authorized to administer oaths for general purposes by the 
law of the United States or of any State, Territory, or possession of 
the United States, or of the District of Columbia, wherein such oath 
or affirmation is administered, except an attorney or agent employed 
to represent the taxpayer before the Department in connection with 
his tax liability. 

G. WHEN AND TO WHOM THE TAX MUST BE PAID.— The 
tax may be paid by sending or bringing with the return a check or money 
order drawn to the order of "Collector of Internal Revenue." Do not 
send cash by mail, nor pay it in person except at the collector's office. 

The tax must be paid in full when the return is filed, or in four equal 
installments, as follows: On or before the 15th day of the third month, 
on or before the loth day of the sixth month, on or before the 15th dav 
of the ninth month, and on or before the 15th dav of the twelfth 
month, from the close of the taxable year. If anv installment is not 
paid on or before the date fixed for payment, the whole amount of tax 
unpaid shall be paid upon notice and demand by the collector. 

H. PENALTIES.— The law imposes severe penalties for failing to 
make a return or for making a false or fraudulent return. Penalties 
are also imposed for failing to file a return on time. 

I. RECEIVED OR ACCRUED INCOME.— If your books of 
account are kept on the accrual basis, report all income accrued, even 
though it has not been actually received or entered on the books, and 
exp rases incurred instead of expenses paid. As to items not deduct- 
ible consisting of unpaid expenses and interest due to certain persons, 
see Specific Instruction 14. If your books are not kept on the accrual 
basis, or if you kept no books, make your return on a cash basis and 
report all income received or constructively received, such as bank 
interest credited to your account and coupon bond interest matured, 
and report expenses actually paid. 

J. ITEMS PARTIALLY AND WHOLLY EXEMPT FROM 
TAX.— All items of income received and claimed to be wholly exempt should 
be explained in Schedule I, except interest to be reported in Schedule B. 

1. The following items --re p<irt'ftU>j exempt from t 



Eived (other thai 



- paid by r 



t paid during the t 



issued under the Federal Farm T.o.in Act or under such 
(if the si 



s shall bo included in gross 



specific I 
lends 
dends are subject 



a5); 



Farm Loan Ac! or under ^ueh Art as amended! i. -ubjeri 
is over $-t,<W. .Such interest should be reported in Schedule 



(r> Dividends on share accounts in Federal savings and loan 
subject to surtax if the surtax net incomi ' 
following items are wholly exempt from 

■hethcr in a single sum or in installments (hut' if 
der an airreement to duv interest I" 

ino>:ji.> 



$4,000 (see Specific Instruction in. 
ntract paid by reason of the death of the 



taxable and must be reported); 
' " roug: 

il value of a dwelling b 



of the gospel as part of his compensation 
(f) Compensation paid by a State oi 
p] lyeea for sen Icea rendered if tat b i ompensal 

(0 .Pensions and e'lmpetH dk> 



r under workmen's 
plus the amount of any 

: i, ; 

political subdivision t 



>c-ived tr mi trie Unite. 



d the United States ii 



:a by the family of a 



V ed .": 



■! inc 



r- fr i: 



5 without I he foiled States feicept 



United States i 



t pr.'i-erW 



so excluded from bis cross 
ale. Territory, or political * 

r '!..■ '■■■:. ('■!■.:■>.. ■.'■-, •.. -,.■', , , 



d by the United St ite 

i the t.ivcayrr in such a ni- may not deduct from his gross 
imount so excluded from 

of a State, Territory, or political subdivision thereof. 
ssions; (2) obligations issued under Feder " 
(3) obligations of United State* issued r 

of Indebtedness. 

K. TREATMENT OF DEPRECIATION AND DEPLETION.— 

A reasonable allowance for the exhaustion, wear and tear, including 
obsolescence, of property used in the trade or business may be deducted. 
AH deductions for depreciation must be explained in Schedule E. If 
obsolescence is claimed, explain why the useful life is less than the 
actual life. 

The amount of depreciation on property acquired by purchase 
should be determined upon the basis of the original cost (not replace- 
ment cost) of the property and the probable number of years remaining 
of ita expected useful life, except if the property was purchased prior to 



STATISTICS OF INCOME 



295 



Page 2 

March 1, 1913, it will be computed on the fair market value of such 
property as of that date or its origmal cost (leu depreciation actually 
sustained before that date', whichever is greater. If the property was 
acquired in any other manner than bv purchase, see section 114. 

See sections 23 (ml and 114 and Regulations 101 with respect to 
additional forms and information required if a deduction is claimed for 
depletion. 

L. INFORMATION AT SOURCE.— Every person making pay- 
ments of salaries, wages, interest, rente, commissions, or other fixed or 
determinable income of $1,000 or more during the calendar year 1938, 
to an individual, a partnership, or a fiduciary, is required to make a 
return on Forms 1096 and 1099 showing the amount of such payments 
and the name and address of each recipient, except that a return need 
not be made for payments of salaries or other compensation for per- 
sonal services aggregating less than $2,500 made to a married individual. 
These forms will be furnished by any collector of internal revenue 
upon request and must be forwarded to the Commissioner of Internal 



to be received 



SPECIFIC IN 

The following instructions are numbered to correspond with item 
numbers on page 1 of the return: 

1. Salaries and other compensation for personal services. — 

Any amount claimed as a deduction for ordinary and necessary 
expenses against salaries, etc., such as traveling expenses while 
away from home in connection with your occupation, should be 
fully explained in Schedule A or in an attached statement. Traveling 
expenses ordinarily include expenditures for transportation, meals, and 
lodging. The expenses of a commuter in traveling to and from work 
are not deductible. 

If a joint return is filed, enter as separate items in Schedule A 
earnings of each spouse. Earnings of minor children should also be 
entered in Schedule A, if parent is lcpallv entitled to such earnings. 

2. Dividends. — Enter as item 2 the total of all taxable dividends 
received from domestic and foreign corporations. Enter in Schedule 
I all dividends received which are claimed to be nontaxable, and 
include in item 11 dividends on share accounts in Federal savings and 
loan associations. 

5. Interest on Government obligations, etc. — Interest on an aggre- 
gate of not exceeding So, 000 principal amount of the obligations 
enumerated on line (e), Schedule B, is exempt from the surtaxes 
imposed by section 12, EDter in column 4, line (e), interest received 
from such obligations in an amount not exceeding the interest received 
or accrued on an aggregate principal of $5,000 of such obligations. 
If at any time during the taxable year you held more than $5,000 
principal in the aggregate of such obligations, enter in column 5, line 
(<■), the interest received or accrued in excess of interest on an aggregate 
of $5,000 principal amount of such obligations. If, during the taxable 
year, you were the beneficiary of an estate or trust, the income of 
which is to be distributed to the beneficiaries currently, or a member 
of a partnership, you are entitled to exemption as if you owned directly 
a proportionate part of such obligations. Therefore, your propor- 
tionate part should be included in filling out Schedule B. 

Interest coupons falling due within the taxable year will be considered 
as income for such year where the books are kept on a cash basis. If 
the books are kept on an accrual basis, report the actual amount of 
interest accrued on the obligations owned during the taxable year. 

6, 7. Income from partnerships, syndicates, pools, etc., and fidu- 
ciaries. — Enter as item 6 your share of the profits (whether received 
or not) or of the losses of a partnership (including a syndicate, pool, 
etc., not taxable as a corporation) except your distributive share of 
partnership capital gains or losses, which should be reported in Schedule 
F and included in item 10 (a) or (o). Enter as item 7 income from an 
estate or trust. Your share of interest on obligations of the United 
States, etc., owned by a partnership or an estate or trust should be 
included in Schedule B. (See also Specific Instruction 5.) Include 
in items 32 and 33, respectively, your share of credits claimed for 
Federal income tax paid at source, and foreign income and profits taxes. 

If the taxable year on the basis of which you file your return does not 
coincide with the annual accounting period of the partnership or 
fiduciary, you should include in your return your distributive share of 
the net profits for such accounting period ending within or with your 
taxable year. 

If the taxable vear of the partnership began before Januarv 1, 193S, aud 
your taxable vear began after December 31, 1937, see section 1SS (b). 

8. income from rents and royalties.— Fill in Schedule C giving the 
information requested. 

If you received property or crops in lieu of cash rents, report the 
income as though the rent had been received in cash. Crops received 
as rent on a crop-share basis should be reported as income for the 
year in which disposed of (unless your return is on the accrual basis). 

9. Profit (or loss) from business or profession. — If you owned a 
business, or practiced a profession on your own account, fill in Schedule 
D of the return, and enter the net profit (or loss) as item 9 of the return. 

Farmer's income schedule. — If you are a farmer and keep no books 
of account, or keep books on a cash basis, obtain from the collector, 
and attach to this return. Form 1040F, Schedule of Farm Income and 
Expenses, and enter the net farm income as item 9 of the return. If 
\our farm books of account are kept on an accrual basis, the filing of 
Form 1040F is optional. 

Installment sales. — If the installment method is used, attach to the 
return a schedule showing separately for the veers 1935, 1936, 1937, 



Revenue, Sorting Section, Washington, D. C, 

not later than February 15. 1939. 

M. STOCK OWNED IN FOREIGN CORPORATIONS AND 
PERSONAL HOLDING COMPANIES.— If at any time during Un- 
taxable year you owned directly or indirectly any stock of a foreign 
corporation (including a foreign personal holding company, as defined 
in section 331, in which you owned le^ than "■ percent in value of the 
outstanding stock of such companv) or a personal holding company, as 
defined by section 402, attach to your return a statement setting forth 
the name and address of each such company aud the total number of 
shares of each class of outstanding stock owned by you during the 
taxable year. If you owned stock at anv time during rh-- !:i\:il.1r ,.■:,< 
in a foreign personal holding company, as defined in section 331, vnu 
must include in your return as a dividend the amount requli 
included in your gross income by section 337. If you owned f> p. rcent 
or more in value of the outstanding stock of such roreiga 
holding company, set forth in an attached statement in complete 
detail the information required by section 337 (d). 

STRUCTIONS 

and 1938 the following: (a) Gross sales; (M cost of goods sold; (e) gros.-, 
profits; (rf) percentage of profits to gross sales; (f) amount collected; 
and (/) gross profit on amount collected. (See Bectidn 44.) 

Inventories. — If you are engaged in a trade or business in which the 
production, manufacture, purchase and sale of merchandise is an in- 
come-producing factor, inventories of merchandise on hand should be 
taken at the beginning and end of the taxable year, which mav be 
valued at (a) cost, or (M cost or market, whichever U lower. Tax- 
payers were given an option to adopt the basis of either (a) cost, or 
(b) cost or market, whichever is lower, for their 1920 inventories. The 
basis properly adopted for that year or any subsequent year is con- 
trolling and a change can now be made only after permission is secured 
from the Commissioner. Application for permission to chan ■-'»■■ 'In 
basis of valuing inventories shall be made in writing and tiled with the 
Commissioner within 90 days after the beginning of the taxable year 
in which it is desired to make the change. With respect to inventories 
of producers and processors of certain non-ferrous metals and tanners. 
see section 22 (d). 

Salaries. — Do not include compensation for services of yourself, 
your dependent minor children (if you are legally entitle, 1 to t heir- 
earnings) or of husband or wife if a joint return is filed, which items 
are not deductible. 

Interest. — Enter on Hue 11 interest on business indebtedness. Do- 
not include interest to yourself on capital invested in or advanced to 
the business. As to limitations on deductions for unpaid expenses 
and interest to certain persons, see Specific Instruction 14. 

Taxes. — Enter on line 12 taxes on business property or for carrying 
on business. (See Specific Instruction 15.) 

Losses. — Enter on line 13 losses incurred in the trade or business, if 
not compensated for by insurance or otherwise. (See also Specific 
Instruction 16.) Losses: from sale or exchange of capital assets and 
other property should be entered in Schedules F and G, rospo* n i I. 
and item 10 of the return. 

Bad debts.— Bad debts may be treated in either of two ways -(1] 
by a deduction from income in respect of debts ascertained to be trorth 
less in whole or in part, or (2) by a deduction from income Oi 
able addition to a reserve for bad debts. 

Taxpayers were given an option for 1921 to select either of Ihesi 
methods and the method used in the return for the year 1921 must b< 
used in returns for all subsequent years unless permission is granted 
by the Commissioner to change to the other method. Applical on 
for permission to change the method shall be made in writing at least 
30 days prior to the close of the taxable year for which it is desired to- 
effect the change. 

A taxpayer filing a first return of income may select either of the two* 
methods mentioned above subject to approval by the Commissioner 
upon examination of the return. If the method selected is approved, 
it must be followed in returns for subsequent years, except as permis- 
sion may be granted by the Commissioner to change to the other method 

If the reserve method is used, you should attach to your return the 
statement required by article 23 (k)— 5 of Regulations 101. 

Debts arising from sales or services are not deductible unless the 
original amount has been reported as income. Bonds which are 
ascertained to be worthless and charged off within the taxable year, 
and which are capital assets, are not to be treated as bad debts, but 
the loss resulting therefrom shall be considered as a lo-s from the sale 
or exchange, on the last day of such taxable- year, of capital assets 
and should be reported in Schedule F. 

A debt previously charged off, allowed as a deduction, and subsequent- 
ly collected must be returned as income for the year in which collected. 

Rents, repairs, and other expenses. — Do not include rent for a 
dwelling occupied by you for residential purposes, the cost of business 
equipment or furniture, expenditures for replacements or permanent 
improvements to property, nor personal, living, or family expenses. 

10. Gains and losses from sales or exchanges of capital assets and 
other property. — Report sales or exchan<*?s of capita! assets in .Schedule 
F, and sales or exchanges of other property in Schedule G, and enter 
the net amount of gain or loss to be taken into account in computing 
net income as item 10. 

Definition of "capital assets." — The term "capital assets" means 
property held by the taxpayer (whether or not connected with his trade 



296 



STATISTICS OF INCOME 



or business), but does not include stock i:i trade of the taxpayer or other 
property of a kind which would properly be included in the inventory 
of the taxpayer if on hand at the close of the taxable year, or property- 
held by the "taxpayer primarily for sale to customers in the ordinary- 
course of his trade "or business, or property, used in the trade or business 
at the time of the sale or exchange, of a character which is subject to 
the allowance for depreciation. The exclusion from the term "capital 
assets" of property used in the trade or business of a taxpayer of a 
character which is subject to allowance of depreciation provided in 
section 23 (1) is limited to property used by the taxpayer in the trade 
. -s at the time of the sale 'or exchange. It has no application 
to gains or losses arising from the sale of real property used in the trade 
or business to the extent that such gain or loss is allocable to the land, 
as distinguished from depreciable improvements upon the land. 

Description of property.— Every sale or exchange of property, even 
though no gain or loss may bo indicated, must be reported in detail. 
Enter full description of each item of property sold or exchanged. 
Such description Bh >uld include the following facts: (a) For real estate, 
location and description of land, description of improvements, details 
explaining depreciation (column 7 of Schedule F); (6) for bonds or 
other evidences of indebtedness, name of issuing corporation descrip- 
tion of the particular issue, denomination, and amount; and (c) for 
stocks name of corporation, class of stock, number of shares, capital 
changes affecting basis (nontaxable stock dividends, other nontaxable 
dividends, stock rights, etc.). . ,, ,„,, ,. 

Basis — If the pronertv was acquired before March 1, 1913, the 
"basis" for the property is not subject to the same rule for reporting 
Kains as for losses. In such cases, the basis for determining GAIN is 
the cost or the fair market value as of March 1, 1913, adjusted as 
provided in section 113(b), whichever is greater, but in determining 
LOSS the basis is cost so adjusted. If the property was acquired after 
March 1, 1913, basis for both gain and loss is the cost of such property, 
except as otherwise provided in section 113. The exceptions arise 
chiefly where property was acquired by gift, bequest, tax-free exchange, 
involuntary conversion, wash sale of stock- and in Buch cases section 
113 provides the basis that shall be used. If the amount shown as the 
basis is other than actual cash cost of the property sold or exchanged, 
full details must be furnished regarding the acquisition of the pro;,, rtv 
Enter in column 7 of Schedule F, or in column 6 with respect to 
Schedule G, the amount of depreciation, exhaustion, wear and tear, 
obsolescence, or depletion which has been allowed (but not less than 
the amount allowable) in respect of such property since date of acqui- 
sition or since March 1, 1913, if the property was acquired before 
that date". In addition, if the property was acquired before March 
1, 1913, the cost shall be reduced by the depreciation actually sustained 
before that date. 

Subsequent improvements include expenditures for additions, im- 
provements, and renewals and replacements made to restore the 
property or prolong its useful life. Do not deduct ordinary repairs, 
interest, or taxes in computing gain or loss. 

Losses on securities becoming worthless.— If any securities (as 
defined below) are ascertained to be worthless and charged off within 
the taxable year and are capital assets, the loss resulting therefrom 
shall in the case of a taxpayer other than a bank, as defined in section 
104, be considered as a loss from the sale or exchange, on the last day 
of such taxable year, of capital assi ts 

Definition of securities. — As used for this purpose, the term securi- 
ties" means bonds, debentures, notes, or certificates, or other evi- 
,1,...,., ,,f i,.,!. !,', .!,.. .i - i' ' by any corporation (including those 
issued by a government or political subdivision thereof), with interest 
coupons' or in registered form. i 

Losses on stocks or stock rights becoming worthless.— If any shares 
of stock in a corporation or rights to subscribe for or to receive such 
shares become worthless during the taxable year, and are capital 
assets, the loss resulting therefrom shall be considered as a loss from the 
, .,!, ,,,' ,. ,r! :,M-e, on I! .■ ! t ,!:iv of ■ „ ', Is ..il-V \. ir, "I capital a -ct- 
Classification of capital gains and losses. — Section 117 (a) (2) to 
(91, inclusive, defines "shott-tcrm capital gain." "short-term capital 
loss," "long-term capital gain," "long-term capital loss," "net short- 
term capital gain." "net short-term capital loss," "net long-term 
capital gain," a: .1 "net long-term c ipital loss." The phrase "short- 
term" applies to I lie category of gains and losses arising from the sale 
or exchange of capital assets held for IS months or less; the phrase 
"long-term," to the category of gains and losses arising from the sale 
or exchange of capital assets held for more than 18 months. 

In the ca=e of individuals, gains and losses from the sale or exchange 
of capital assets held for not more than IS months (described as Bhort- 
tcrm capital pains and short-term capital losses) shall be segregated 
from gains and losses arising from the sale or exchange of such assets 
held for more than IS months (described as long-term capital gains 
and long-term capital losses). 

Percentage of capital gain or loss taken into account. — In comput- 
ing the net income of an individual, the following percentages of the 
gain or loss recognized upon the sale or exchange of a capital asset 
shall be taken into account in computing net income: 

100% It tho capital asset has hpon held for not more than 18 months: 

[la! asset has boon hold for more than 18 months ami not more than 

b than 24 months, 
short-term capital losses.— Section 117 (d) (2) pro- 
vides a limitation on deductions for short-term capital losses of indi- 
viduals, that is, losses from sales or exchanges of capital assets held 



60?j% it tho c 

60% If tho capital asset has been held I 

Limitation 



Page 3 
for 18 months or less shall be allowed as deductions only to the extent 
of the gains from sales or exchanges of capital assets held for 18 
months or less. However, subsection (e) provides that ir. the case of 
an individual having in any taxable year (beginning after Decem!>or 
31, 1937) a net short-term capital loss, he may carry over such loss, 
in an amount not in excess of his net income for such year (the year 
in which the loss is realized), to the next succeeding taxable year and 
treat it in such succeeding year as a short-term capital loss. The 
carry-over is thus applied in such succeeding year to offset any short- 
term capital gains in such succeeding year not already offset by short- 
term capital losses in such year. The carry-over is restricted to one 
year, namely the succeeding taxable year, and hence the amount of 
the net short-term capital loss carry-over may not be included in 
computing a new short-terra capital loss which can be carried over to 
the succeeding taxable year. In the case of individuals, there is no 
limitation on deductions for long-term capital losses. 

Alternative tax in case of net long-term capital gain or loss. — In 
the case of a net long-term capital gain of an individual, subsection 
(c) (1) of section 117 imposes an alternative tax in lieu of the normal 
tax and surtax imposed upon net income, if and only if such alterna- 
tive tax is less than the tax otherwise imposed. This alternative tax 
is the sum of (1) a partial tax, computed at the normal tax and surtax 
rates on the net income of the taxpayer decreased by the amount of 
such net long-term capital gain, plus (2) 30 percent of the net long- 
term capital gain. 

In the case of a net long-term capital loss of an individual, an alterna- 
tive tax is imposed in lieu of the normal tax and surtax imposed on 
net income, if and only if such alternative tax ia greater than the tax 
otherwise imposed. This alternative tax is the excess of (1) a tax. 
computed at the normal tax and surtax rates on tho net income of 
the taxpayer increased by the amount of such net long-term capital 
loss, over (2) 30 percent of the net long-term capital loss. 

Determination of period for which capital assets are held. — If prop- 
erty was acquired in certain transactions described in sections 112, 
113, and 118, the period for which such property is considered to 
have been held by the taxpayer is not computed from the date suoh 
property was acquire 1 by the taxpayer but from a prior date, as 
provided in section 117 (h). 

Application of section 117 in the ca6e of husband and wife. — In the 
application of section 117 to short-term capital gains and losses, a 
husband and wife, regardless of whether a joint return or separate 
returns are made, are considered to be separate taxpayers. Accord- 
ingly, the limitation under section 117(d) (2) on the allowance of 
losses of one spouse from the sales or exchanges of capital assets held 
for not more than 13 months is in all cases to be computed without 
regard to gains and losses of the other spouse upon sales or exchanges 
of capital assets held for not more than 18 months. In the 
joint return of a husband and wife, capital transactions of ei 
be reported in separate schedules. 

As to gains and losses from short sales, seo section 117 (gl. As to 
gains and losses from distributions in liquidation of corporations, sec 
section 115 (c). 

Losse9 not allowable. — Wash sales. — In the case of any loss claimed 
to have been sustained from any sale or other disposition of shares of 
stock or securities where it appears that, within a period beginning 
30 days before the date cf such sale or disposition and ending 30 days 
after such date, 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 so to acquire, sub- 
stantially identical stock or securities, then no deduction for the loss 
shall be allowed unless the claim is made in connection with the tax- 
payer's trade or business. (See section 118.) 

Losses in transactions between certain persons. — No deduction 
shall be allowed in respect of losses from sales or exchanges of property, 
directly or indirectly— 

A Between member; el a f.milv. which Is Joined (or the purpose of t*v. para-r.iph to 
■ - . < ..,.,,-- '- o,,.., , n a s-*l.TS (whether by the whole or h I'.f lo.o P, spo'is*. 

| ■ Nations In liquidation, between on IndivMua] I 

; - .- t loo of the outstanding stock of which Is owned, directly 

D. Between a fiduciary ofa tru to . , : . - h trust 

For the purposes of determining ownership of stock in applying 
this paragraph, see section 21 (b) (2). 

11. Other income. — If you had any taxable income, space for re- 
porting which is not provided elsewhere on the return, enter it as 
item 11, and explain, its nature, using a separate sheet if necessary for 
that purpose. Include in this item taxable income from annuities 
and insurance proceeds. Amounts received as an annuity under an 
annuity or endowment contract shall be included in gross income to 
the extent of 3 percent of the aggregate premiums or consideration 
paid for such annuity. If the aggregate of the amounts received and 
excluded from gross income in years previous to the taxable year 
equals the aggregate premiums or consideration paid for such annuity, 
the entire amount received must be included in gross income. (Section 
22 (b) (2).) . 

Amounts received during th- ta\ t'.l- sear under a life insurance or 
endowment policy (other than amounts paid by reason of the death 
of the insured, interest paymenta on such amounts, an 1 amounts 
received as annuities) shall be included in gross income if the amounts 
so received (when added to the amounts received before the taxable 
year under such policy) exceed the total premiums or consideration paid. 



eh should 



STATISTICS OF INCOME 



297 



Page 4 

Include also in item 11 dividends on share accounts in Federal sav- 
ings and loan associations. 

12. Total income. — Enter and explain in Schedule I all income (except 
interest which should be explained in Schedule Ii) claimed as exempt, 
but do not include as part of item 12. 

- 13. Contributions paid. — Enter as item 13 the contributions or 
gifts reported in Schedule II, payment of which was made within the 
taxable year to or for the use of — 

(a) The 1' ■ '■ ' ' ■ ' " ' 'te, Territory ^r my political subdivision thereof, or iho 
District of Col ' ■ ' '<■ i ' i ' 1 '' public purposes; 

(61 A domestic mrpf-r 'tion. or 'ioiiti'stic trust, or liomoslii' community chest, fund, or 
foundation, ■ r.* r -■!.:.!■ r-r i to i exclusively 1>t rt-iiu'n'u . i-luir i t . t li 1 , 
o- educiti'-ii ; ■ ■■-, or for the prevention of cruelty to chiMr. n -r utiiruals, no part of Ino 
n.-< .•irni;].-- ( ■■■ ' '■><• benefit of any private i f.h.uehnMiT or individual, and no 

s'iM:Tni'jl 1'irt nil he ;n.-nvities of which is carrying; on propieanda, or otherwise at tempt inp, 

fhabilitation authorized by section 12 of tbe World 

■ans, or auxiliary unit? or societies of any such posts 



■ ■ ' 



, raid if no part of their r 



Drganized in tbe I'D 



ier, or association, operating under the lodge system, 

■e to be used ev. Iu-i\ eh [■ r relicious. charitable, scien- 
flr. literary, erctui: i'i<>n il purp -es.or !"r th" prevent ir-n <■( cnj-.llj' to children or animals. 

The amount claimed shall not exceed 15 percent of your net income 
computed without the benefit of this deduction. 

14. Interest.— Enter as item 14 interest on personal indebtedness 
as distinguished from business indebtedness (which should be deducted 
under Schedules C and D). Do not include interest on indebtedness 
incurred or continued to purchase or carry obligations (other than 
obligations of the United States issued after September 24, 1917, and 
originally subscribed for by the taxpayer) the interest upon which is 
wholly exempt from taxation. Any deductions on account of interest 
should be explained and itemized in Schedule H. 

Attention is called to the following limitations on deductions for 
unpaid expenses and interest provi led in section 24 (c): 

(c) Unpaid expenses and interest. — In computing net income no 
deduction shall be allowed under section 23 (a), relating to expenses 
incurred, or under section 23 (b), relating to interest accrued — 

(1) Tf such expenses or Interest are not paid within the taxable yeoi 



* half i! 



nths aflei 



(2) If. by i 
iade, tbe am 
r the taxable- ye 



thi reof; rod 



i of the method of a 



nlim- <■ 



» person to whom tbe payment 

• "'e cross income of s ' 

the taxpayer ends 

iny time within two 

whom tbe payment 



ibe 

suc^i person 



includible 
f ith which the taxable yea 

(3) If, at the close of the tasable year of the taxpayer or 
half months thereafter, both the taxpayer and the person 
mid" are per ■■'Tis bel »ivn whom losses would be disallowed under section 24 (b). 

15. Taxes. — Enter as item 15 taxes imposed upon you and paid or 
accrued during the taxable year, not including taxes on property used 
in your business or profession and those assessed against local bene- 
fits of a kind tending to increase the value of the property assessed. 
Do not include Federal income taxes, nor estate, inheritance, legacy, 
succession, gift taxes, taxes imposed upon your interest as shareholder 
of a corporation which are paid by the corporation without reimburse- 
ment from you, nor income taxes claimed as a credit in item 33. 
Tax withheld or paid under section 801 of the Social Security Act for 
or in behalf of the employee is a Federal income tax and is not deduct- 
ible by the employee. Do not include sales taxes unless such taxes were 
imposed directly upon you by law. No deduction is allowable for any 
portion of foreign income and profits taxes if a credit is claimed in item 33. 

Any deduction on account of taxes should be explained and itemized 
in Schedule H. 

16. Losses from fire, storm, shipwreck, or other casualty, or theft. — 
Enter as item 16 losses of property not connected with your business 
or profession, sustained during the year, if arising from fire, storm, 
shipwreck, or other casualty, or from theft, and if not compensated 
for by insurance or otherwise. 

Explain and itemize Josses claimed in Schedule H, setting forth a 
description of the property, date acquired, cost, subsequent improve- 
ments, depreciation allowable since acquisition, insurance, salvage 
value, and deductible loss. 

17. Bad debts. — Enter as item 17 all bad debts other than those 
claimed as a deduction in Schedule D. State in Schedule H (a) of 
what the debts consisted, (b) name and family relationship, if any, of 
the debtor, (c) when they were created, (d) when they became due, 
(e) what efforts were made to collect, and (/) how they were actually 
determined to be worthless. Bonds which are ascertained to be 
worthless and charged off within the taxable year, and which are 
capital assets, are not to be treated as bad debts, but the loss result- 
ing therefrom shall be considered as a loss from the sale or exchange, 
on the last day of such taxable year, of capital assets and should be 
reported in Schedule F. 

IS. Other deductions. — Enter as item 18 any other authorized 
deductions for which no space is provided on page 1 of the return. 
Do not deduct losses incurred in transactions which were neither con- 
nected with your trade or business nor entered into for profit. Losses 
from wagering transactions are allowable only to the extent of the gains 
derived by you from such transactions. Any deduction claimed 
should be explained in Schedule H. 

Stock and stock rights which become worthless during the taxable 
year, and which are capital assets, should not be included among other 
deductions in item IS, but the loss resulting therefrom 6hall be con- 
sidered as a loss from the sale or exchange, on the last day of such 
taxable year, of capital assets and should be reported in Schedule F. 

In ease you incurred expenses in connection with exempt incdrne 
(other than interest) or owned anv property the income from which 
is exempt, sec section 24 (a) (5) and Regulations 101. 

22, 23. Credit for personal exemption and dependents. — Enter as 



items 22 and 23 the amounts explained in Schedule .1-1 and J-2. 
A single person, or a married person not living with husband or wife, 
is entitled to a personal exemption of $1,000. A person who, during 
the entire taxable year, was the head of a family or was married and 
living with husband or wife, is entitled to an exemption of $2,500. If 
husband and wife file separate returns, the personal exemption mav be 

taken by either or divided between them. 

A "head of a family" is an individual who actually supports and 
maintains in one household oi eormoremdn iduals who are closely con- 
nected with liim by blood relationship, relationship hv marriage, ..i 
by adoption, and whose right to exercise family control and provide foi 
these dependent individuals is based upon some moral or legal obligatiou 

In addition to the personal exemption, a credit of $400 mav be 
claimed for each person (other than husband or wife) under IS years of 
age, or incapable of self-support because mentally or p] 
defective, who received his or her chief support from the taxpayer 
This credit may be allowed only to the person who furnishes the chief 
support, and may not be divided between two individuals. 

If the status of the taxpayer, insofar as it affects the persona! 
exemption or credit for dependents, changes during the taxable year, 
the personal exemption and credit shall be apportioned in accordance 
with the number of months before and after such change. For the 
purpose of such apportionment a fractional part of a month shall be 
disregarded unless it amounts to more than half a month, in which 
case it shall be considered as a month. For example, if a child became 
IS years of age on June 16, 1938, the taxpayer will be allowed a credit 
of $200 for such dependent. 

25. Credit for interest on Government obligations, etc. — Enter as 
item 25 interest on Government obligations, etc., reported as item 5, 
and also dividends on share accounts in Federal savings and loan 
associations reported in item 11. 

26. Earned income credit*. — Enter as item 26 the amount of earned 
income credit computed in Schedule K— 1 or K-2. 

"Earned income" means wages, salaries, professional fees, and other 
amounts received as compensation for personal services actually 
rendered, but does not include any amount not included in gross 
income, nor that part of the compensation derived by the taxpayer 
for personal services rendered by him to a corporation which represents 
a distribution of earnings or profits rather than a reasonable allowance 
as compensation for the personal services actually rendered. In the 
case of a taxpayer engaged in a trade or business in which both per- 
sonal services and capital are material income-producing factors, a 
reasonable allowance as compensation for the personal services 
actually rendered by the taxpayer, not in excess of 20 percent of his 
share of the net profits of such trade or business, shall be considered as 
earned income. "Earned income deductions" means such deductions 
as are allowable by section 23, for the purposes of computing net 
income, and are properly allocable to or chargeable against earned 
Earned net income" means the excess of the amount of the 
over the sum of the earned income deductions. The 
credit allowable to each spouse in a joint return is the 
allowable to each spouse in separate returns; however, the 
Dine, earned income deductions, earned net income, and net 
income of each spouse must be shown separately. 

29. Surtax. — The surtax is computed at the graduated rates shown 
in the table below. Its application mav be illustrated bv the following 
example: If your surtax net income (Item 24) is 89,261.84, the surtax- 
on $8,000 is $180 and the surtax on the excess of $1,261.84 is 6 percent 
of that amount, or $75.71, making a total surtax of $255,71 to be 
entered as item 29. 

SURTAX RATES 



earned i 



Amount of surtax net 


Rate 
per- 


£& 


income 


Rate 
per- 


Total 


A 


il 




A 


B 


C 








$62,000 to $68,000 
C$.000 to 74,000 
74.000 to 80.000 
80,000 to 90,000 
90.000 to 100.000 
100.000 to 150,000 
150,000 to 200,000 
200,000 to 250.000 
250,000 to 300.000 
300,000 EC 100,000 
400,000 to 500.000 
500,000 to 750,000 

T50.000 to 1,000.000 

l,(VNi,IK)0 1 .1 2,000,0* "J 

2,000,000 td 5,000,000 


39 

51 
55 

60 
62 
61 
66 

70 
74 


$14,000 
lfi, 5S0 
11,400 
24,500 
30,000 




5 
6 

8 
9 
11 
13 
15 
17 

24 

31 
35 


$80 

ISO 

300 

410 

600 

730 

1,000 

1.260 

1.560 

2.210 

3.3S0 

4.640 

6.0S0 

7.700 

9, 5G0 

11.600 












89,000 

12a 000 

152,000 










286, 000 

461,000 


26,000 to 32,000 




1,371,000 
3, 591, 000 






50,000 to 62.000 







32. Income tax paid at the source 
interest on bonds on which a Fede 
source by the debtor corporation. 

33. Income tax paid to a foreign country or United States posses- 
sion. — If, in accordance with section 131 (a), a credit is claimed in 
item 33 for income, war-profits, and excess-profits taxes paid to a 
foreign country or a possession of the United States, submit Form 1116 
with your return with the receipts for such payments. In case credit 
is sought for taxes accrued, the form must have attached to it a 
certified copy of the return on which the tax was based, and the Com- 
missioner may require' a bond on Form 1117 for the payment of any 
tax found due if the tax when paid differs from the credit claimed. 



298 



STATISTICS OF INCOME 



Treasury Department 



Form 1041 
UNITED STATES 



Interns! Revenue Service 



1938 FIDUCIARY INCOME TAX RETURN 1938 



(FOR ESTATES AND TRUSTS) 
For Calendar Year 1938 

or fiscal year beginning _ , 19SS, and ended 



., 1939 



File lliis relcrn nol lalcr linn Ihc lalh day of ill; ihird u 



- the dose of ihe laxabk y 



(PRII.r NAMES AND ADDRESS PLAINLY BELOW) 



Name cf 
Estate or 1Y'. 



Name and 
Address of 
Fiduciary 



Do Not IV TV 


.Sp.— 




File Code 






Serial No 


District 







(C-.shiw'i Scirop) 



FIRST PAYMENT 



*iS?N.. INCOME 

Dividends 1$ 

Interest on bank deposits, notes, corporation bonds, etc. (except interest to be reported in item 3) 

Interest on tax-free covenant bonds upon which a Federal income tax was paid at source 

Taxable interest on Government obligations, etc. (from Schedule B, line (j), column 5) 

Income (or !osr) from partnerships, syndicates, pools, etc., and income from other fiduciaries 

(Name and address} 

Rents and royalties (from Schedule C) 

(a) Net short-term gain from sale or exchange of capital assets (from Schedule E) _. 

(i) Net long-term gain (or loss) from sale or exchange of capital assets (from Schedule E) 

(c) Net gain (rr less) from sale or exchange of property other than capital assets (from Schedule F)-l... 

Net profit (or loss) from trade or business (attach statement).. _ __. 

Other income (state nature of income) { — 

Total income in items I to 9 (enter nontaxable income in Schedules B and H) 

DEDUCTIONS 

Interest (explain irj Schedule G). $.. 

Taxes (explain in Scl.edulc G).._ ... 

Other deductions authorized by law (explain in Schedule G) I — 

Total deductions in items 11 to 13 ... 

Balance (item 10 minus item 14) - $.. 

Less amount distributable to beneficiaries (from Schedule A. columns 2 and 9. and Schedule B. line (A), column f.) I 

(taxable to fiduciary) (item 15 minus item 16) 1$.. 



Net 



Irj. Net income (item 17 above) 

19. Less personal exemption (See In- 

struction 19) 

20. 'Balance (surtax net income)... 

21. Less: Interest on Government obli- 

gations, etc. (See Instruction 21).. 

22. Balance subject to normal tax 



COMPUTATION OF TAX 

23. Normal tax (4% of item 22). ... 

2-1. Surtax on item 20 (Sc;r Instruction 24) 

25. Total (item 23 plus item 24) 

26. Total tax (item 25, or if you had a net long-term capital 
gain or loss, enter line 14, Schedule E) 

27. Less: Fiduciary's share of income tax paid 
at source... 

23. Fiduciary's share of income tax paid 
to a foreign country or United States 
possession (Attach 1'orm 1116) 

29. Balance of tax (item 26 minus items 27 and 28). 



NOTE.— One fori 



orked "DUPLICATE'COPY' 



: be Sled vith this 



si return ('10 will be assessed if duplicate copy is r.ot filed). 



STATISTICS OF INCOME 



299 



Pat* 2 

Schedule A— BENEFICIARIES' SHARES OF INCOME AND CREDITS. (Include a. beneficiaries persons to whom amount, were paid 
or set aside for religious, charitable, etc., purposes) (See Instruction 16) 



I. Name and addreu of each bcneomry 



(o) 
(*) 

(c) 

(s) 






Total of beneficiaries' shares.. 



CONTINUATION OF SCHEDULE A.— BENEFICIARIES' SHARES OF INCOME AND CREDITS 











Partially Wi-eKn.pt 


5. U* letter correspond- 
ing U above to identify 


an of°iuL (a"5)."w. *"d V) °" Sdttdi B) 


7. United Sutej S»vinji Bonds ind Tteaiury 
Bond. <.Wc. o/ lint (0. Schedule B) 


6. ObUtatiou of ceruin uuirumenUlitie. o( the 
United Stun (Jura nl line (J). Schedule D) 


9. Dividends on share u- 




Principal 


I» tm ». 


Prindd 


In-.™, 


PtindpJ 


Ir,temt 


inJ loan association 












$ - 
















$ 


























































































































































Totals .. 


1 -- 




$ 




$-- 




$ 




$ 













Schedule B.— INTEREST ON GOVERNMENT OBLIGATIONS 


, ETC. (See 


Instruction 4) 






1. ObUg.lioru or Mcurlue* 


2je*« 


3. Interest received or 
accrued during the yeai 


A. Interest exempt 


in eiceu of exemption 


(a) Obligations of a State, Territory, or political subdivision thereof. 


$ 




$ 




All 


X X X X