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Statistics 
of Income 
for 1952 







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Part 1 

Individual and 
Fiduciary 
Income Tax Returns 



U. S. TREASURY DEPARTMENT 
\[jh Internal Revenue Service 



is.^ 



Statistics 
of Income 
for 1952 



Prepared under the direction of the 
Commissioner of Internal Revenue 
by the Statistics Division 










Part 1 

Individual and 
Fiduciary 
Income Tax Returns 



U. S. TREASURY DEPARTMENT 
Internal Revenue Service 

Publication No. 79 



UNITED STATES GOVERNMENT PRINTING OFFICE, WASHINGTON : 1956 



For sale by the Superintendent ot Documents, U. S. Government Printing Office, Washington 25, n. C. - Pric? 75 cents (paper cover) 




Boston FuVilc ^i'.;rary 
Cuperintonr'pnt of Documents 



LETTER OF TRANSMITTAL 



Treasury Department, 
Office op Commissioner of Internal Revenue, 

Washington, D. C, January 9, 1956. 

Sir: I have the honor to transmit herewith the complete report, Statistics 
oj Income for 1952, Part 1, prepared in accordance with the provisions of section 
63 of the Internal Revenue Code of 1939 which requires annual preparation and 
publication of statistical data reasonably available with respect to the operation 
of Federal income tax laws. Data for numerous types of income, deductions, 
exemptions, income tax, self-employment tax, income tax withheld on wages, 
payments on declaration, and other related data are shown by various classifica- 
tions. These data are compiled from individual and fiduciary income tax re- 
turns for the income year 1952. Nontaxable fiduciary returns are included in 
the tabulations for the first time since 1939, so that full coverage of fiduciary 
income is included. 

In addition to the current year tabulations, the report contains significant 
historical data and a synopsis of recent tax rates, credits, and other provisions 
of income tax laws. 



Respectfully, 



Honorable G. M. Humphrey, 

Secretary of the Treasury. 



Russell C. Harrington, 

Commissioner of Internal Revenue. 



CONTENTS 

Page 

Introduction 1 

INDIVIDUAL INCOME TAX RETURNS 

Major characteristics of 1952 5 

Income tax provisions for 1952 individual income 6 

Returns included 6 

Composition of adjusted gross income 7 

Marital status 7 

Deduction for medical expense 8 

Explanation of classifications and terms 8 

Classification of individual returns 8 

Sources comprising adjusted gross income 10 

Itemized nonbusiness deductions 12 

Measures of individual income 13 

Exemptions 13 

Tax items 13 

Description of sample and limitations of data 15 

Tabulated data 15 

Basic tables, 1952: 

1. Number of returns, adjusted gross income, and total tax — simple and cumu- 

lated distributions 18 

2. Sources ot income and loss, itemized deductions, and net income, by returns 

with standard or itemized deductions 19 

3. Sources of income and loss and itemized deductions, by adjusted gross income 

classes 20 

4. Sources ol income and loss, deductions, exemption, and tax items — fre- 

quencies and amounts by adjusted gross income classes 21 

5. Frequency distributions of returns by size of source 26 

6. Frequency distribution of returns by size of net income 31 

7. Adjusted gross income, tax liability, average tax, and effective tax rate, by 

types of tax 33 

8. Adjusted gross income, exemption, and total tax, by marital status of 

taxpayer 34 

9. Exemptions by marital status of taxpayer 36 

10. Selected sources of income, adjusted gross income, exemptions, and tax 

liability by detailed adjusted gross income classes for all returns and joint 

returns, and in total for other marital statuses 40 

11. Capital gains and losses, short- and long-term, by adjusted gross income 

classes 43 

12. Selected sources of income and tax liability by States and Territories 45 

13. Adjusted grass income and income tax liability, by States and Territories 

and by adjusted gross income classes 46 

Historical tables," 1944-52: 

14. Number of returns by major characteristics, adjusted gross income and 

deficit, and tax 53 

15. Number of returns with income tax liability, adjusted gross income, income 

tax, average tax, and effective tax rate, by adjusted gross income classes. _ 54 

16. Sources of income by type 55 

17. Selected sources of income by adjusted gross income classes 56 

18. Itemized deductions by type 58 

19. Number of returns with adjusted gross income, adjusted gross income, and 

income tax, by States and Territories 59 

FIDUCIARY INCOME TAX RETURNS 

Major characteristics of 1 952 63 

Income tax provisions for fiduciary income 63 

Returns included 64 

Explanation of classifications and terms 64 

Classification of fiduciary returns 64 

Sources comprising total income 65 

Deductions 66 

Measures of fiduciary income 66 

Amount distributable and exemptions _. 66 

Tax liability 67 

Description of sample and limitations of data 67 

Tabulated data 68 

v 



VI CONTENTS 

Basic tables, 1952: Paee 

1. Number of returns, total income, and tax — simple and cumulated distribu- 

tions 70 

2. Sources ot income and loss, deductions, exemption, and tax — frequencies and 

amounts, bv total income classes 71 

3. Sources of income and loss, deductions, exemption, and tax, by net income 

classes 74 

4. Frequency distribution of returns by size of net income 76 

5. Total income, net income, tax, average tax, and effective tax rate, by types 

of tax 78 

6. Capital gains and losses, short- and long-term, by total income classes 79 

7. Returns for trusts and for estates by total income classes 81 

8. Selected sources of income and tax by States and Territories 82 

Historical tables, 1944-52: 

9. Number of taxable returns, total income, tax, and effective tax rate, by total 

income classes 84 

10. Sources of income and deductions by type 85 

SYNOPSIS OF FEDERAL TAX LAWS, 1944-52 

Individual and fiduciary income tax: 

A. Requirements for filing returns and exemptions 89 

B. Normal tax and surtax rates 90 

C. Provisions pertaining to capital gains and losses 91 

Self-employment tax: 

D. Requirements for filing returns and tax rate 92 

FACSIMILES OF TAX RETURNS, 1952 

Form 1040, Individual Income Tax Return 95 

Form 1040A, Employee's Optional Income Tax Return 117 

Form 1041, Fiduciarv Income Tax Return 119 

Index J 127 



INTRODUCTION 

Statistical data presented in this report cover the income year 1952. The 
source documents are individual income tax returns, Form 1040 and Form 
1040A, and fiduciary income tax returns, Form 1041, both taxable and non- 
taxable. With the inclusion of the nontaxable fiduciary returns, the statistics 
for fiduciary returns embody comprehensive data for the income from estates 
and trusts. Income, deductions, exemptions, taxes, and other important in- 
formation reported on these returns are presented by various classifications of 
taxpayers, size of income, tax status, and other relevant groupings. Gift tax 
returns filed for gifts made in 1952 and estate tax returns filed during 1953 
were not processed by the Statistics Division; therefore no data for these re- 
turns are included in this report. Under present plans, however, both gift 
tax returns and estate tax returns will be processed for next year's report. 

The first part of this report pertains to the individual income tax returns 
and contains data from Form 1040, whether short-form or long-form, and 
from the employee's optional returns. Forms 1040A. Although Form 1040 A 
differs from Form 1040, it is possible to integrate the data reported on the vari- 
ous forms and no distinction is made in the tabulations. Current year data are 
presented in 13 basic tables; in addition, significant historical series for 1944 and 
subsequent years are given in 6 tables. 

The second part of this report presents data reported on fiduciary income 
tax returns. Forms 1041. The current year statistics are tabulated in 8 basic 
tables and include data for both taxable and nontaxable fiduciary returns. 
This is the first year since 1939 that the nontaxable fiduciary returns have been 
processed by the Division. With the inclusion of the nontaxable returns, the 
data now show the entire income from estates and from property held in trust 
even though the trust income was distributable to beneficiaries to the extent 
that none was taxable to the fiduciary. Data characteristic of fiduciary re- 
turns differ somewhat from those for individual returns; however, statistics 
from fiduciary returns are presented, so far as possible, in tables similar to those 
for individual returns, so that these data may be associated. Two historical 
tables, showing data for taxable fiduciary returns only, follow the current year 
tabulations. 

The third part of this report gives a brief synopsis of recent Federal tax 
laws relating to the income tax provisions that apply to individual income and 
fiduciary income, and to the tax on self-employment income derived by an 
individual from his solely owned business and his distributive share of partner- 
ship income. 

At the close of the report are inserted facsimiles of the individual income 
tax returns, Forms 1040 and 1040A, and of the fiduciary income tax returns, 
Form 1041, for 1952. 

Four tables from this report were published in a Preliminary Report, 
Statistics of Income jor 1952, Part 1, issued in AprU 1955. Three of these 
tables contain data for individual returns and are tables 1, 4, and 12 in this 
complete report ; the remaining table contains data for taxable and nontaxable 
fiduciary returns and is table 2 among the fiduciary tables of this report. 
Kevisions in the previously published data were found necessary in compiling 
tables for this report. 



Individual 



Income Tax 



Returns 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



MAJOR CHARACTERISTICS OF 1952 

Adjusted gross income and tax liability on individual 
returns for 1952 continue the upward trend, resulting in 
the largest amounts ever to be reported. This is the first 
year to reflect the entire annual increase in surtax rates 
that became effective on November 1, 1951, under provi- 
sions of the Revenue Act of 1951. 

The total tax liabihty for 1952 is $28 billion of which 
$0.2 billion is self-employment tax. There is an increase 
of $3.6 billion, or 15 percent, in the total tax over that 
for 1951. A breakdown of the current year tax shows an 
increase in the combined normal tax and surtax as well as 
in self-employment tax; but there is a decrease in the 
alternative tax. Approximately one-third of the total tax 
is paid on returns with adjusted gross income under $5,000. 
Only 6 percent of the tax is reported on returns showing 
adjusted gross income of $100,000 or more. 

Adjusted gross income reached an all-time high of 
$216.1 billion, which is nearly $13 billion, or 6 percent, 
more than that of the previous year. Somewhat over 
one-half of the adjusted gross income for 1952 is reported 
on returns with income under $5,000. Adjusted gross 



deficit for the current year is about $0.8 billion; this is 
5 percent larger than the 1951 deficit. 

The 56.5 million individual income tax returns filed for 
the income year 1952 are somewhat over one million 
returns more than were filed for 1951. Although more 
than three-fourths of the 1952 returns are filed by tax- 
payers whose income is less than $5,000, there are one 
million fewer returns in this category than last year. 
Taxpayers with income of $5,000 or more in 1952 filed 
2 million returns more than were filed by the same income 
group in 1951. 

Salaries and wages for 1952 are $174.3 billion, an in- 
crease of $13.9 billion, and account for the major portion 
of the increase in adjusted gross income. There are also 
increases in investment income from interest, annuities, 
and rents and royalties. Business profit is up slightly, 
but dividends, statutory capital gains, partnership profit, 
and fiduciary income declined in 1952. Among the losses 
in adjusted gross income, there are larger losses from rents 
and royalties and business activities and a larger deduc- 
tion for capital loss than were reported in the prior year. 

Salaries and wages are found on 90 percent of the re- 
turns with adjusted gross income under $5,000 as well as 



Percent of total 
801 



70 



60 



50 



40 



30 



20 



INDIVIDUAL INCOME TAX RETURNS. BY INCDME GRDUPS. 1952 



Percent of total 
7180 



NUMBER OF RETURNS 



ADJUSTED GROSS INCOME 




TAX LIABILITY 





60 



50 



to 



— 30 



— 20 



UNDER tS.OOO 



JS.OOO UNDER tlO.OOO 
ADJUSTED GROSS INCOME GROUPS 



$10,000 OR MORE 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



on returns with $5,000 or more. Dividends are reported 
on one out of every five returns with income of $5,000 or 
more, whereas dividends are reported on about one out 
of 20 returns with income under $5,000. 

Almost 7 million returns show business activity of sole 
proprietors and 1.8 million are filed by members of part- 
nerships; however, in some cases, business and partner- 
ship enterprises occur on the same return. Among these 
returns, there are four million taxpayers with self-em- 
ployment tax. 

There are 43.9 million taxable returns for the current 
year. This is 1.2 million more taxable returns than were 
filed for the previous year, while the nontaxable returns 
decreased only 146 thousand. 

The standard deduction was elected on 43.7 million 
returns, which is 77.3 percent of all returns. This is the 
lowest percentage of returns ever to show this election 
which has been gradually declining since 1948 when 83 
percent of the returns showed use of the standard 
deduction. 

The optional tax table was used to determine the in- 
come tax liability on 36.2 million returns, or 64 percent 
of the total. This is the smallest proportion of the re- 
turns to show use of the optional tax since its introduc- 
tion in 1944. The highest proportion was slightlv over 
80 percent for 1945. 

Of the 12.8 million returns which have itemized non- 
business deductions in 1952, almost all show contribu- 
tions and taxes paid. On one-half of these returns, the 
taxpayer's medical and dental expenses were such that he 
claimed a deduction. About 6 out of 10 returns have a 
deduction for interest paid. 

The total number of exemptions claimed is 149.6 mil- 
lion of which 90 million are the per capita exemption for 
the taxpayer and on joint returns his spouse, 5.5 million 
are the additional exemptions for age and blindness, and 

NUMBER OF RETDHNS. AND AMOUNTS OF INCOME. DEFICIT. AND TAX: 
INDIVIDUAL RETURNS 1952 AND 1951 





1952 


1951 


Increase or de- 
crease (— ) 




Number or 
amount 


Per- 
cent 


.\I1 returns: 
Number of returns 


56, 528, 817 
216, 087, 449 
797, 541 
43, 876, 273 
43, 866, 832 
198, 531, 784 
9,441 

23,425 

28. 02O, 288 
27, 802, 831 

217, 457 

12,652,544 

12. 240, 257 

17,555,665 

412, 287 

774,116 


55, 447, 009 

203,097,033 

760,548 

42, 648, 610 

42, 636, 797 

185,171,964 

11,813 

23,912 
24, 439, 073 
24, 227, 780 

211,293 

12, 798, 399 

12, 405, 800 

17,925,069 

392, ,599 

736, 636 


1,081,808 

12, 990, 416 

36,993 
1,227,663 
1,230,035 

13, 359. 820 

—2, 372 

-487 
3, .181,216 
3, 575, 051 

6, 164 

—14,5,855 

—165. 543 

—369, 404 

19,688 

37,480 


2,0 
6.4 
4.9 
2 9 
2.9 
7.2 
-20.1 

—2.0 

14.7 
14.8 

2.9 


Adjusted gross income 

thousand dollars. . 
Adjusted gross deficit 

thousand dollars.. 
Taxable returns: 
Total number of returns 


With adjusted grn.*^ income: 
.Vumber of returns 

.Adjusted gross income 

thousand dollars.. 
With no adjusted gross Income: 
Number of returns 


Adjusted gro^s deficit 

thousand dollars.. 
Total tax liability. ..thousand dollars.- 

Income tax thousand dollars . 

Selt.cmployment tax 

thousand dollars.. 
Nontaxable returns: 
Total number of returns 


With adjusted gros.s income: 
Number of returns 


—1.3 

-2.1 

5.0 

5.1 


Adjusted gross income 
,„ ^ thousand dollars. . 
With no adjusted gross Income: 

Number of returns 


Adjusted gross deficit 

thousand dollars. . 



54.1 million are per capita exemption for dependents. 
The average number of exemptions on returns under 
$5,000 adjusted gross income is 2% exemptions per return, 
while on returns with $5,000 or more income the average 
number of exemptions is 3% for each return. The chief 
reason for this divergence is that joint returns, having at 
least 2 exemptions, compose 90 percent of the returns 
with income $5,000 or more, but in the lower income group 
only 50 percent of the returns are joint returns. The 
average number of exemptions for joint returns as a 
whole is 3)^ and for all other returns, as a group, the 
average is 1% exemptions each. 

INCOME TAX PROVISIONS FOR 1952 INDIVIDUAL 

INCOME 

The Internal Revenue Code of 1939 as amended by the 
Revenue Act of 1951, dated October 20, 1951, and by the 
Social Security Amendments of 1950, dated August 28, 
1950, is effective for the income year 1952. Some of the 
amendments were applicable throughout the year 1951, 
others were applicable as of November 1, 1951, so that the 
full effect of the increase in tax rates and of other changes is 
reflected, for the first time, in the income and tax data for 
1952. 

In addition, Public Law 465-82d Congress, 2d Session, 
approved July 8, 1952, amended the 1939 Code in several 
respects, one of which is an increase in the allowable 
deduction for charitable contributions made by individ- 
uals. The deduction is increased to an amount not in 
excess of 20 percent of the adjusted gross income for tax- 
able years beginning on or after January 1, 1952, whereas 
the deduction formerly was limited to 15 percent of ad- 
justed gross income. 

RETURNS INCLUDED 

Data in this report are compiled from the returns as 
filed by the taxpayers, prior to audit by the Internal 
Revenue Service, and do not reflect any changes in income, 
deductions, exemptions, cr taxes that may result from 
official audit. 

Individual returns used are Forms 1040 and 1040A 
filed by citizens and resident aliens. Included are returns 
for tlie calendar year 1952, a fiscal year ending within the 
period July 1952 through June 1953, and a part year with 
the greater number of months falling in 1952. The 
majority of returns are for the calendar year. Tentative 
returns are not included and amended returns are used 
only if the original returns are excluded. Returns of 
nonresident aliens are not included. 

A return is required of every individual, including 
minors, wlio had $600 or more of gross income for the 
taxable year, except that every self-employed person 
must file Form 1040 if he has at least $400 of net earnings 
from self-employment, regardless of allowable deductions 
and exemptions. Many returns, not otherwise required, 
are filed solely to claim refund of tax overpaid by cur- 
rent payments; also some returns are received without 
anv information on tliem. 



INDIVIDUAL INCOME TAX RETUENS FOR 1952 



Form 1040A is the employee's optional return which 
may be filed by persons whose gross income is less than 
$5,000 consisting of wages reported on Withholding 
Statements (Form W-2) and not more than a total of $100 
from other wages, dividends, and interest. The income 
tax liability on this form is determined by the district 
director of iiaternal revenue on the basis of the income 
reported, in accordance with optional tax table II of the 
1951 act, amending the 1939 Code. The tax in this 
table applying to 1952 income makes allowance for the 
standard deduction and for exemptions. Jouit returns of 
husband and wife may be filed on Form 1040A if their 
combined income meets the requirements for its use. 
Form 1040A cannot be used by husband and wife to 
report divided community income; neither can it be used 
by persons claiming status as head of household. 

Form 1040, which may be either a long-form return or a 
short-form return, is used by persons who, by reason of the 
size or source of their income, are not permitted to use 
Form 1040A, and by persons who, although eligible to use 
Form 1040A, find it to their advantage to use Form 1040. 
Persons with adjusted gross income of less than $5,000, re- 
gardless of the source, may elect to file the short-form 
return on which nonbusiness deductions and tax credits 
are not reported, the income tax being determined on the 
basis of adjusted gross income, by the taxpayer, from the 
optional tax table. If the taxpayer whose adjusted gross 
income is less than $5,000 wishes to claim nonbusiness 
deductions in excess of the standard deduction, he must 
file the long-form return and compute the income tax lia- 
bility on the basis of net income less allowable exemptions. 
Persons with adjusted gross income of $5,000 or more are 
required to file the long-form return and compute the in- 
come tax liabOity. In computing the net income to be 
taxed, the taxpayer may use, in lieu of itemized nonbusiness 
deductions, the optional standard deduction which is the 
smaller of $1,000 or an amount equal to 10 percent of the 
adjusted gross income, except that in the case of a married 
person filing a separate return, the standard deduction is 
$500. 

Facsimilies of the 1952 individual returns. Forms 1040 
and 1040A, are presented on pages 95-126. 

The table below sets forth the number of individual re- 
turns filed for 1952 on the various forms and shows whether 
they are taxable or nontaxable. It also indicates the re- 
turns on which tlie tax is determined from the optional 
tax table, as well as returns on which the taxpayer elected 
the standard deduction and returns on which the taxpayer 
found it to his advantage to itemize his nonbusiness deduc- 
tions. The income tax liability of 36.2 million taxpayers 
filing Form 1040A and short-form 1040 returns is deter- 
mined from the tax table. These 36.2 million returns also 
have the standard deduction. In addition, 7.5 million 
taxpayers using long-form 1040 returns elected to use the 
optional standard deduction, so that a total of 43.7 million 
returns show use of the standard deduction. On the re- 
maining 12.8 million returns, the taxpayer itemized his 
deductions. 



NUMBER OF RETURNS BY FORM OF RETURN. 1952 



Form of return 


Total 


Taxable 


Nontaxable 


Form ICHOA 


11, 896, 547 
24,276,697 

7, 519, 797 

7, 942, 164 
4, 893, 612 


8, 103, 863 
16, 790, 004 

7, 519, 797 

6, 568, 997 
4, 893, 612 


3, 792, 684 


Form 1040: 
Short -form. 


7, 486, 693 


Long-form: 
With standard deduction— adjusted gross 




With itemized deductions: 


1, 373, 167 


Adjusted gross income $5,000 or more 






Total returns 


56,528,817 


43, 876, 273 


12, 652, 544 







COMPOSITION OF ADJUSTED GROSS INCOME 

In the following chart showing composition of adjusted 
gross income for 1952, the income base is adjusted gross 
income less adjusted gross deficit. Only the four major 
sources — salaries and wages, business, partnership, and 
dividends — are given a specific area, the remaining sources 
being grouped in the area for other income. In plotting 
the business area, the net profit and net loss from business 
are combined; similarly, the net profit and net loss from 
partnership are combined for the partnership area. Other 
income encompasses net profit and net loss from rents and 
royalties, net gain and net loss from sale of capital assets 
and other assets, net operating loss deduction, and income 
from interest, annuities and pensions, estates and trusts, 
and miscellaneous sources. 

Salaries and wages, which predominate, make up 81 
percent of the income and are four times greater than in- 
come from all other sources combined. Business and 
partnership together contribute 1 1 percent of the income 
Dividends form only 3 percent of the total. 



COMPOSITION OF ADJUSTED GROSS INCOME, 1952 




ADJUSTED GROSS INCOME (net) J2I5 BILLION 



MARITAL STATUS 

Among the returns for 1952, there are 33.4 million joint 
returns of husbands and wives; this group forms nearly 
60 percent of all returns filed. The next largest group of 
returns is that filed by single persons not heads of house- 
hold ; this group of 20 million returns constitutes somewhat 



8 



INDIVIDUAL INCOME TAX EETURNS FOR 1952 



over 35 percent of the total. Of the remaining returns, 
2.3 million, or 4 percent, are separate returns of husbands 
and wives and 0.7 million, or 1 percent, are returns of 
heads of household, a status created under the 1951 act 
and classified for the first time on 1952 returns. 

NUMBER OF RETURNS, ADJUSTED GROSS INCOME AND DEFICIT, BY 
MARITAL STATUS OP TAXPAYER. 1952 





Returns 


Adjusted 
gross in- 
come 


Adjusted 
gross deficit 


Marital status 


Number 


Percent 
of total 


Joint returns of husbands and wives. . . 
Separate returns of liusbands and 
wives: 


33, 440, 334 

1, 085, 336 
1, 226, 430 

342,440 
347,025 

10, 970, 540 
9,116,712 


59.2 

1.9 
2 2 

.6 
.6 

19.4 
16.1 


Thousand 

dollars 

163,708,804 

3, 619, 690 
2. 816, 016 

1, 762, 473 
1,461,215 

23, 477, 822 
19, 252, 629 


Thomand 
dollars 
623, 144 

18, 524 
7 943 


Women 


Returns of tieads of household: 


(') 
(') 

87, 179 
65,464 


Women 


Returns of single persons: 

Men 

Women 


Total 


56, 528, 817 


100.0 


216,087,449 


797, 541 



1 Number of returns is subject to sampling variation of more than 100 percent; there- 
fore, data are not shown separately. However they are included in totals. 

DEDUCTION FOR MEDICAL EXPENSE 

Among the taxpayers who itemized nonbusiness deduc- 
tions for 1952 there are 6.4 million who claimed deductions 
amounting to $2.1 billion for medical costs paid during 
their taxable year. This is the largest amount ever 
claimed on account of medical expenses and represents 
nearly 7 percent of the $31.5 billion of adjusted gross 
income reported on returns having a medical deduction. 
For 1950, the last year for which the medical deduction 
was tabulated, the deduction is $1.6 billion. The 1951 
act liberalized the deduction for taxpayers who have at- 
tained the age of 65 before the close of their taxable year, 
by removing the limitation pertaining to the amount of 
medical deduction equal to 5 percent of the adjusted gross 
income; so that such taxpayers may deduct their entire 
medical costs, if within the maximum allowable deduction. 

Medical costs to be considered for this deduction include 
those actually paid during the year, even though the ill- 
ness occurred in a prior year, for the care of the taxpayer, 
his spouse, and any dependent who received over one- 
half of his support from the taxpayer regardless of the 
dependent's gross income. Medical costs include pay- 
ments to physicians, dentists, nurses, hospitals, oculists, 
chiropractors, osteopaths, as well as cost of X-rays, medi- 
cal supplies, drugs, dentures, crutches, hearing aids, and 
the like. Any sick, health, or hospital insurance received 
must be applied against the total medical expenses, after 
which a deduction is allowed subject to limitations. 
Under the 1951 act, if neither the taxpayer nor his spouse 
has attained the age of 65, the deduction for medical 
expenses is that portion of such expenses which exceed 
an amount equal to 5 percent of adjusted gross income; 
if either the taxpayer or his spouse is 65 years or over 
before the close of the year, the deduction is the entire 
amount of medical expenses for both plus the amount by 
wliich medical expenses for their dependents exceed 5 
percent of adjusted gross income. However, the maxi- 



mum deduction allowed in any case is limited to $1,250 
multipled by the number of exemptions allowed for nor- 
mal tax and surtax other than those for age and blind- 
ness, but not in excess of $2,500 in the case of a single 
person, a head of household, or a married person filing a 
separate return, nor in excess of $5,000 in the case of a 
joint return of husband and wife. 

In the following table, the deduction for medical, 
dental, etc., expenses is tabulated together with the 
adjusted gross income reported on these returns. The 
medical deduction is the amount claimed by the taxpayer 
whether or not the deduction complies with the above 
provisions. 

MEDICAL DEDUCTION AND ADJUSTED GROSS INCOME BY ADJUSTED 
GROSS INCOME CLASSES. 1952 



Adjusted gross income classes 



Taxable returns: 
No adjusted gross income.. 

Under $600 

.$600 under $1,000 

$1,000 under $1.,500... 

$1,500 under $2,000 

$2,000 under $2,500 

$2,,'i00 under $3,000 

$3,000 under $3.500.. 

$3,500 under $4,000 

$4,000 under $4,.=i00 

$4,500 under $5,000.. 

$5,000 under $6.000 

$6,000 under $7,000 

$7,000 under $8,000.. 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$16,000 under $20,000 

.$20,000 under $30,000 

$30,000 under $60,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000... 
$1,000,000 or more 



Number of 
returns 



Total ta.xable returns.. 

Nontaxable returns: 
No adjusted gross income.. 

Under $600 

$600 under $1,000... 

$1,000 under $1,500 

$1 .500 under $2,000 

$2,000 under $2,600.. 

$2,500 under $3,000 

$3,000 under $3.600 

$3,500 under $4,000.. 

$4,000 under $4,600 

$4,500 or more 



Total nontaxable returns. 

Grand total 

Taxable returns under $5,000 
returns 

Taxable returns $5,000 or more.. 



and nontaxable 



(') 

2,743 

48,961 

138, 192 

288,302 

388,465 

468. 128 

572, 315 

672,538 

656, 086 

593, 878 

848, 405 

454,609 

215, 166 

118, 214 

65,865 

141,528 

50, 871 

41,258 

25,959 

13, 548 

3,707 

1.071 

153 

51 



5, 800, 951 



8,892 
11,912 
59, 479 
93,785 
92, 873 
95, 637 
99,712 
69, 072 
46,221 
26.093 
34,809 



638,485 
6, 439, 436 



4, 459, 032 
1,980,404 



Deduction 
for medi- 
cal, dental, 
etc.. 
expenses 



Thousand 
dollars 

(') 

317 

7,286 

26, 421 

61,411 

88,956 

119,947 

158, 375 

196, 154 

194, 527 

171.930 

273, 597 

161,944 

85,204 

62, 536 

35,894 

99,266 

43,494 

40,464 

28,556 

16, 171 

4,676 

1,444 

214 

76 



1, 868, 137 



4,825 
4,445 
18, 169 
32, 871 
38,563 
37, 366 
46,299 
31,407 
20,192 
14, 356 
21, 606 



270, 097 
2, 138. 234 



1, 294, 700 
843,634 



Adjusted 

gross 

income 



Thousand 
dollars 
(') 
1,478 
42, 910 
176,884 
507, 477 
878, 731 

1, 267, 608 
1, 859, 881 

2, 523, 107 
2, 788, .■fflO 
2,818,296 
4, 628, 382 
2, 934, 287 
1, 603, 647 

996, 379 
623, 278 

1, 686, 318 
871.610 

997, 375 
984, 961 
911,200 
4%, 430 
297,258 
103, 969 

66,389 



30, 065, 047 



2 56,493 
6,050 
49,284 
121, 140 
161,316 
213, 349 
276,368 
223,675 
171,664 
110.447 
193, 319 



' 1,469,018 
'31,534,065 



' 14, 332, 682 
17, 201, 483 



1 Number of returns is subject to sampling variation of more than 100 percent; there- 
fore, data are not shown separately. However, they are included in totals. 

2 Adjusted gross deficit. 

5 Adjusted gross Income less adjusted gross deficit. 

EXPLANATION OF CLASSIFICATIONS AND TERMS 
Classification of Individual Returns 

Individual returns for 1952 are classified by adjusted 
gross income classes, by taxable and nontaxable returns, 
by standard and itemized deductions, by marital status 
of taxpayer, by number of exemptions other than age or 
blindness, and by States and Territories. Also returns 
are classified by the size of each specific source of income 
and loss comprising adjusted gross income; taxable 
returns are classified by types of tax liability. Returns 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



with itemized deductions are classified by net income 
classes for a frequency of returns only. Data presented 
under the various classifications differ, some items not 
being available for all classifications. 

Adjusted gross income classes.^ — The amount of ad- 
justed gross income reported on each return supplies the 
basis for this classification. The class intervals for 1952 
are broader, in most instances, than those used in former 
years. Returns showing an adjusted gross deficit regard- 
less of amount, returns that break even in adjusted 
gross, and returns with no information on them are 
designated "No adjusted gross income" and appear in 
aggregate as a separate class. 

Returns in the two classes, no adjusted gross income and 
adjusted gross income under $600, occur among the tax- 
able returns because the self-employment ta.x is payable 
on self-employment income irrespective of the income 
tax. Nontaxable returns in the adjusted gross income 
class $4,500 or more are considered a class unit and, in 
tables where the taxable and nontaxable returns are 
combined, the nontaxable returns in this class remain in 
this unit, even though they exceed the designated class 
limit. 

Returns with standard deduction or with itemized 
deductions. — Retui-ns with standard deduction are op- 
tional returns. Form 1040A, and short-form returns. 
Form 1040, on both of which the adjusted gross income 
is less than $5,000 and deductions are allowed automatically 
through use of the tax table, and long-form returns, 
Form 1040, with adjusted gross income of $5,000 or more 
on which the optional standard deduction is used. The 
standard deduction in the latter case is the smaller of 
$1,000 or 10 percent of the adjusted gross income, except 
that on the return of a married person filing a separate 
return, the standard deduction is $500. 

Returns with itemized deductions are long-form re- 
turns. Form 1040, on which nonbusiness deductions 
allowed against adjusted gross income are reported in 
detail by the taxpayer or on which no deductions (stand- 
ard or itemized) are reported; all returns with adjusted 
gross deficit whether short-form or long-form returns 
(with or without deductions) ; returns that break even 
in adjusted gross; and returns with no information on 
them. 

Taxable and nontaxable returns. — This classification is 
based on the existence or nonexistence of a tax liability 
after tax credits. The tax liability includes the self- 
employment tax. Tax credits are allowed for tax paid 
at source on interest from tax-free covenant bonds and 
for income tax paid to a foreign country or a possession 
of the United States. However, these tax credits are 
allowed only to taxpayers who itemized deductions and 
only against the income tax. No tax credit is allowed 
against the self-employment tax. 

Taxable returns are those showing a tax liability re- 
maining after the allowable tax credits stated above. 
Returns with self-employment tax are classified as tax- 
able even though there is no income tax. 



Nontaxable returns are those without taxable self- 
employment income that have an adjusted gross deficit, 
or a breakeven in adjusted gross, or no amounts of income, 
or that have an adjusted gross income which when re- 
duced by deductions (standard or itemized) and exemp- 
tions leaves no income to be taxed, or in case of remaining 
income, the income tax thereon is eliminated by the 
tax credits. 

Size of specific source. — For the purpose of frequency 
distributions only, returns are classified by size of each 
specific source of income and loss comprising the adjusted 
gross income. The class intervals are sufficiently narrow 
to provide adequate classification of small income items. 
Net income classes. — Returns with itemized deductions 
are classified on the basis of the amount of net income 
for a frequency distribution of these returns. Returns 
with net deficit, regardless of amount, are designated "No 
net income" and appear as the first class. 

Types of tax. — Taxable returns are classified on the 
basis of three types of tax: combined normal tax and 
surtax, alternative tax on income containing capital gain 
taxed at the special rate, and self-employment tax only. 
The first two types of tax may be in conjunction with the 
self-employment tax. By so classifying the tax, the two 
categories — returns with normal tax and surtax, and 
returns with alternative tax — are maintained on the same 
basis as was used before the advent of self-employment 
tax. 

Returns with normal tax and surtax include the optional 
returns. Form 1040A, and the short-form returns. Form 
1040, on both of which the optional tax is paid in lieu of 
the regular normal tax and surtax. Short- and long-form 
returns. Form 1040, with normal tax and surtax may also 
have self-employment tax. Returns with normal tax 
and surtax include all returns with net loss from. sales of 
capital assets and returns with net gain from such sales 
unless the alternative tax is imposed. 

Returns with alternative tax are long-form returns. 
Form 1040, wherein the income includes a net long-term 
capital gain or an excess of net long-term capital gain 
over net short-term capital loss and the alternative tax 
is less than the regular normal tax and surtax on income 
which includes all net gain from sales of capital assets. 
Returns with alternative tax may also have self-employ- 
ment tax. 

Returns with only self-employment tax are returns, 
Form 1040, with self-employment income subject to 
self-employment tax but with no income tax liability. 

Marital status. — Classification of returns for marital 
status of ta.xpayer is based on the marital status of the 
taxpayer at the close of the income year or on the date of 
the death of a spouse. The four classifications are: joint 
returns of husbands and wives, separate returns of hus- 
bands and wives, returns of heads of household, and re- 
turns of single persons. The last three groups are also 
classified as returns of men and returns of women. 

Joint returns of husbands and wives are those on which 
a married couple report their combined income or returns 



10 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



of married persons whose spouse has no income but who, 
nevertheless, are entitled to claim the exemption for their 
spouse. This group includes joint returns filed on Form 
1040A despite the fact that the district du-ector of internal 
revenue may have determined the minimum tax on the 
basis of separate incomes of husband and wife. 

Separate returns of husbands and wives are returns of 
married persons who file a return independently from 
their spouse, each reporting his or her respective income 
and claiming his own exemption. Since the introduction 
of the split-income provision, the popularity of dividing 
community income between spouses for income tax pur- 
poses has diminished. The relatively few returns filed on 
a community basis are now tabulated with separate re- 
turns of husbands and wives. This group does not include 
joint returns. Form 1040A, even though the director de- 
termined the minimum tax on the basis of separate in- 
comes of husband and wife. Unequal numbers of returns 
for men and for women result from insufficient informa- 
tion to identify the marital status or the sex of taxpayers 
and from the use of samples as a means for compiling 
statistical data. 

Returns of heads of household are returns, Form 1040, 
filed by unmarried persons who furnished over half the 
maintenance of a home which was his residence and which 
he shared during the entire year with a person for whom 
he was entitled to an exemption, or with his unmarried 
child, stepchUd, or grandchild even though such child 
was not a dependent. This is the first year for this classi- 
fication. 

Returns of single persons are returns of unmarried 
individuals who do not qualify as head of household. 
Number of exemptions other than age or blindness. — For 

a frequency distribution of returns by number of exemp- 
tions, only the per capita exemption of the taxpayer, his 
spouse on a joint return, and each dependent is utilized. 
This maintains the same basis for this distribution as that 
used in previous years. There is a class for each of 1 
through 5 and for 6 or more exemptions for all returns and 
for joint returns; and a class for each of 1 through 3 and 4 
or more exemptions for separate returns of husbands and 
wives, for returns of heads of household, and for returns of 
single persons. 

States and Territories. — This classification consists of 
the 48 States, Hawaii, and the District of Columbia. The 
segregation of returns on the basis of States and Territories 
is determined by the location of the internal revenue dis- 
trict in which the return is filed, except that for the District 
of Columbia, the segregation is determined from the 
address of the taxpayer. Internal revenue districts, or 
groups of such districts, arc coextensive with States and 
Territories, except that the District of Columbia comprises 
a part of the internal revenue district of Maryland and the 
Territory of Alaska is a part of the internal revenue dis- 
trict of Washington. The sampling technique employed 
for obtaining statistical data does not permit separate 
tabulation of returns from Alaska. 



Sources Comprising Adjusted Gross Income 

Salaries and wages also include bonuses, tips, commis- 
sions, and other kinds of compensation used by the 
employer to pay the employee for services rendered. 
Amounts paid to an employee to cover travel expenses 
or as reimbursed expenses are considered wages; however, 
travel and lodging expenses incurred by the employee 
while away from home ov^ernight on his employer's busi- 
ness are deducted from gross salary on Form 1040, but 
only to the extent included in salaries and wages. Wages 
reported on Form 1040A are not reduced by such expenses. 
Enlisted military personnel exclude all compensation and 
commissioned officers exclude not more than $200 of 
active service pay received for any month during any 
part of which they served in a combat zone or were 
hospitalized as a result of such service. Subsistence 
allowance for members of the armed forces, mustering- 
out pay, pensions of veterans, disability pay, monthly 
allowances for support of veterans and their dependents, 
and educational benefits paid to veterans are tax-exempt 
and, therefore, are not reported. Salaries and wages on 
Form 1040A exclude wages not exceeding $100 per return 
upon which no income tax was withheld, the amount of 
which is reported as other income. 

Dividends include foreign and domestic dividends, but 
exclude those received through partnerships and fiduciaries 
and, in adjusted gross income classes under $5,000, exclude 
dividends not exceeding $100 per return reported as other 
income on Form 1040A. 

Interest received includes that from bonds, debentures, 
notes, mortgages, bank deposits, saving accounts, loans, 
and the taxable and partially tax-exempt interest on 
Government obligations, as well as partially tax-exempt 
Government interest received through partnerships and 
fiduciaries. However, in adjusted gross income classes 
under $5,000, interest not exceeding $100 per return 
reported as other income on Form 1040A is excluded. 

Annuities and pensions include only the portion of 
amounts received during the year which are required to 
be reported in gross income. An amount equal to 3 
percent of the total cost of the annuity is reported as 
income annually, until the aggregate of amounts received 
and excluded from gross income in this year and prior 
years equals the total cost. Thereafter, the entire amount 
received is taxable and must be included in gross income 
for the year in which it is received. 

Rents and royalties net profit is the amount reported on 
returns that show a combined net profit in the schedule for 
these two sources of income. Rents include not only 
rents from real estate but also amounts received from 
renting any kind of property, and include the fair market 
value of crops received as rent from farm property. 
Royalties include revenue from copyrights, patents, 
trade-marks, formulas, natural resources under lease, and 
the like. Deductions against the gross income from these 
sources are allowed for maintenance, insurance, repairs, 
interest, taxes, depreciation, depletion, and other ex- 



INDIVIDUAL INCOME TAX RETUKNS FOR 1952 



11 



penses pertaining to the respective incomes. The net 
amount resulting from the operation of eitlier source is 
not available. A net loss from one source offsets net 
profit of the other. The amount included in adjusted 
gross income is the net profit for the combined rents and 
royalties income. 

Rents and royalties net loss is the amount reported on 
returns showing a net loss in the schedule for rents and 
royalties, neither of which is reported separately. Rents 
and royalties and the deductions are described briefly in 
the preceding paragraph. A net profit from either source 
offsets the net loss of the other. Tlie n?t loss reported 
in adjusted gross income is the combined net loss from 
these two sources. 

Business net profit is reported by individuals, including 
farmers, wlio are sole proprietors of a business or pro- 
fession. The profit may result from one sole proprietor- 
ship activity or from several sucli activities carried on by 
tlie taxpayer, the combined result of which is a net profit. 
If there is a net loss from one of the business activities, 
tlie loss is combined with the net profit of the others and 
the remaining net profit is reported in adjusted gross 
income. 

Business expenses deductible from total receipts from 
business activities include such items as cost of goods sold, 
salaries and wages of employees, interest on business debts, 
taxes on business and busmess property, bad debts arising 
from sales or service, depreciation and obsolescence, de- 
pletion, casualty losses on business property, rent, repairs, 
cost of supplies, advertising, selling expenses, insurance, 
and other expenses of rumiing the business. Compen- 
sation of the sole proprietor is not allowed as a business 
deduction nor is the net operating loss deduction included 
among tiie business deductions. 

Business net loss is the net result of all business or 
professional activities, including farmers, carried on by a 
sole proprietor, the combined result of which is a net loss. 
The loss may result from one or more businesses. In case 
there is a net profit from one of several activities, the 
profit is combined with the losses of the others and the 
remaining net loss is reported in adjusted gross income. 
Allowable expenses against tlie gross business receipts are 
mentioned in the above paragraph. 

Partnership net profit is reported by taxpayers who are 
members of a partnership, syndicate, joint venture, or the 
like. Each member must report as income his share of the 
distributable net profit or loss (whetiier actually received 
or not) of each partnersliip of which he is a member. The 
amount reported as profit by tiie taxpayer is the net result 
of all his shares, the combined amount of which is a net 
profit. However, the taxpayei- is required to exclude fiom 
his partnership profits and losses ins share of partially 
tax-exempt Government interest and of gains and losses 
from sales of capital assets, these items being reported in 
tlieir respective sources. 

Partnership net loss is reported in adjusted gross income 
by persons who are members of a partnership, syndicate, 
joint venture, or the like; each member must report his 



share of the distributable profit or loss (whether actually 
received or not). The reported net loss is the combined 
amount from all partnership shares, even though some 
shares may be net gains. Nevertheless, the taxpayer 
must exclude from his partnership profits and losses his 
share of partially tax-exempt Government interest and 
of capital gains and losses, these items being reported in 
their respective sources. 

Net operating loss deduction reported in adjusted gross 
income pertains to net operating losses from business, 
profession, or partnership sustained after December 31, 
1948, and to casualty losses from fire, flood, storm, or 
other casualty, or theft sustained after December 31, 
1950, which result in net economic losses to the taxpayer. 
The amount of net operating loss deduction reported in 
the current year is only the portion of such losses not 
absorbed by the required carrybacks and carryovers into 
years prior to 1952. 

Net gain from sales of capital assets is the statutory net 
gain from sales or exchanges of such assets, required to be 
included in adjusted gross income. It is the result of 
combining the net short-term capital gain or loss (including 
the capital loss carryover from the 5 preceding years) with 
the net long-term capital gain or loss (such gains and 
losses taken into account at 100 percent); however, in 
cases where the net long-term capital gain exceeds the 
net short-term capital loss, only 50 percent of the excess 
is included in adjusted gross income. If tiie net short- 
term capital gain exceeds the net long-term capital loss, 
the entire excess is included in adjusted gross income. 
This is the new method of reporting gains from sales of 
capital assets under the provisions of the 1951 act. 

Short-term applies to sales of capital assets held 6 
months or less and such gains and losses, together with the 
capital loss carryover, are merged to obtain the net short- 
term capital gain or loss. In determining the amount of 
net short-term gain or loss, the short-term gains and 
losses from partnerships are also included. 

Long-term applies to gains and losses from sales of 
capital assets lield more than 6 months and sucii gains 
and losses, taken into account at 100 percent, are merged 
to determine the net long-term capital gain or loss wliicli 
also includes the net long-term capital gain or loss received 
through partnerships. 

Net loss from sales of capital assets is the (hMluctible 
loss from sales or e.xclianges of sucli assets allowed in 
computing adjusted gross income. For the purpose of 
determining the deduction under the provisions of the 
1951 act, all short-term capital gains and losses (including 
the capital loss carryover from the 5 preceding years) and 
100 percent of all long-term capital gains and losses are 
merged and the excess capital loss is allowed as a deduction 
to the extent of the net loss, or net income (adjusted gross 
income, if tax is determined from tax table) computed 
without regard to capital gains and losses, or $1,000, 
whichever is smallest. The returns are not edited to 
asceitain whether or not the deduction conforms to the 
specified limitation and tliere may be cases, particularly 



371897 O -56 • 



12 



INDIVIDUAL INCOME TAX KETUENS FOR 1952 



among returns with no adjusted gross income, where the 
amount deducted exceeds the limitation. Description of 
short- and long-term capital gains and losses are given 
above. 

Capital loss carryover reported as a short-term capital 
loss on 1952 returns is the remaining net capital loss not 
allowed as a deduction in the 5 preceding years. The net 
capital loss sustained in 1952, to be used as a future 
carryover, is not reported as an item on the return; it is 
the excess of current year capital losses- (at 100 percent) 
over the sum of (1) current year capital gains (at 100 
percent) and (2) the smaller of $1,000 or net income of the 
current year computed without regard to capital gains and 
losses. The net capital loss is carried forward as a short- 
term capital loss in the 5 succeeding years to the extent 
not eliminated in the interim. 

Net gain from sales of property other than capital assets 
is that reported by taxpayers who had a net gain as the 
result of all their sales and exchanges of property which is 
not considered a capital asset. This type of gain has no 
reduction in contrast to that for the excess long-term 
capital gain. 

Net loss from sales of property other than capital assets 
is reported by individuals whose losses from sales and 
exchanges of property that is not considered a capital 
asset exceeded their gains from such sales. A net loss of 
this type is wholly deductible in computing adjusted gross 
income. 

Income from estates and trusts is the taxpayer's share 
of distributable income (whether actually received or not) 
of an estate or trust under which the taxpayer is a bene- 
ficiary. Such income, however, excludes partially tax- 
exempt Government interest which is reported in interest 
income. 

Miscellaneous income includes alimony received, prizes, 
rewards, sweepstakes winnings, gambling profits, recovery 
of bad debts deducted in a prior year, insurance received 
as reimbursement for medical expenses previously de- 
ducted, and all other taxable income not separately 
tabulated. Also, in adjusted gross income classes under 
$5,000, there are included $21,500,000 of wages not 
subject to withholding of income tax, dividends, and 
interest, not exceeding a total of $100 per return, reported 
in one sum on 429,002 optional returns, Form 1040A. 

Itemized Nonbusiness Deductions 

Itemized deductions reported on long-form returns, 
Form 1040, are the nonbusiness deductions allowed against 
adjusted gross income. Itemized deductions are elected 
by many taxpayers instead of the optional standard 
deduction. (The standard deduction reported on long- 
form returns is not tabulated.) 

Contributions are gifts made to organizations created in 
the United States or possessions thereof, or under the law 
of the United States, or of any State, Territory, or posses- 
sion of the United States, and operated exclusively for 



religious, charitable, scientific, literary, or educational 
purposes, or for the prevention of cruelty to children or 
animals; and gifts made to veterans' organizations or to 
governmental organizations for public use. Individuals 
who are members of a partnership may include among their 
contributions their pro rata share of gifts made by the 
partnership. For the income year 1952, the allowable 
deduction is limited to 20 percent of the adjusted gross 
income, unless the taxpayer qualified for an unlimited 
deduction under section 120 of the 1939 Code. The 
returns are not audited and it is not known whether the 
limitation is strictly adhered to, particularly among 
returns with no adjusted gross income. 

Interest paid is that paid on personal debts, mortgages, 
bank loans, and installment purchases, but does not in- 
clude interest on money borrowed to buy tax-exempt 
securities nor single-premium life insurance or endow- 
ment contracts; neither does it include interest chargeable 
against rent, royalties, or business income, which is re- 
ported in those schedules. 

Taxes include personal property taxes, State income 
taxes, certain State and local retail sales taxes, State 
gasoline taxes and automobile license fees, and real estate 
taxes except those levied for improvement which tend to 
increase the value of property. Federal taxes are not 
deductible. Taxes paid on business property are reported 
in the rent and business schedules. 

Losses from fire, storm, etc., are the net losses on non- 
business property resulting from destruction by fire, 
storm, automobile accident, shipwreck, flood or other 
natural physical forces, and from losses due to theft. 
The deduction is limited to the net loss sustained, that is, 
the value of property just before the loss less salvage value 
and insurance or other reimbursement received. 

Medical, dental, etc., expenses pertain to the medical 
expenses actually paid during the taxable year for the 
care of the taxpayer, his wife, and any dependent who 
received over one-half of his support from the taxpayer, 
regardless of the dependent's gross income. Any sick 
and health or hospital insurance received must be ap- 
plied against the total expense to which it applies, after 
which a deduction is allowed subject to limitations. The 
limitations are stated under "Deduction for Medical 
Expense," page §8, wherein this deduction is shown with 
the corresponding adjusted gross income. The deduction 
is tabulated as reported by the taxpayer whether or not 
the deduction conforms to the limitations. 

Miscellaneous deductions include all other authorized 
deductions not separately tabulated, such as alimony 
payments, expenses incurred in collection of income or for 
management, conservation, or maintenance of property 
held for the production of taxable income, amortizable 
bond premium, taxpayer's share of interest and taxes 
paid by a cooperative apartment corporation, gambling 
losses not in excess of gambling winnings included in 
income, and expenses in connection with the taxpayer's 
job, such as dues to unions or professional societies, tools 
and supplies, and fees to employment agencies. 



INDIVIDUAL INCOME TAX EETURNS FOR 1952 



13 



Measures of Individual Income 

Adjusted gross income is defined as gross income 
minus allowable trade and business deductions, expenses 
of travel and lodging in connection with employment, 
reimbursed expenses in connection with employment, 
deductions attributable to rents and royalties, deductions 
for depreciation and depletion allowable to life tenants 
and income beneficiaries of property held in trust, allow- 
able losses from sales of capital assets and other property, 
and a deduction equal to 50 percent of the excess of net 
long-term capital gain over net short-term capital loss. 

Adjusted gross deficit occurs when the business deduc- 
tions and other deductions and losses allowed for the 
computation of adjusted gross income, stated above, 
exceed the gross income. 

The amounts of income, profits, and loss comprising 
adjusted gross income (or deficit) are the net amounts to 
be included, that is, gross receipts from business less trade 
and business expenses, salaries and wages less travel and 
lodging expenses in connection with employment or 
reimbursement expenses, gross rents and royalties less 
expenses attributable thereto, partnership income less 
expenses, gain from sales of capital assets reduced by 
50 percent of the excess of net long-term capital gain over 
net short-term capital loss, and the allowable loss from 
sales of capital assets and other property. If the respec- 
tive deductions are such that the net result is a loss from 
the source to which they relate, the net loss comprises a 
part of the adjusted gross income or deficit. In case a 
taxpayer received back pay or compensation for services 
rendered over a period of 36 months or more and filed 
under the provisions of section 107 of the 1939 Code, the 
amount of such income included in salary, business, or 
partnership is only that portion of the income allocated to 
the current 3'ear. 

Net income on returns with itemized deductions is that 
reported on long-form returns. Form 1040, which have 
adjusted gross income in excess of the itemized nonbusiness 
deductions. Net income does not apply to 1040A returns, 
nor to short-form returns, Form 1040. Although long- 
form returns. Form 1040, on which taxpayers elected to 
use the optional standard deduction, do show a net 
income, the amount tlieroof is not included in the 
tabulated net income. 

Net deficit on returns classified as returns with itemized 
deductions includes the adjusted gross deficit on short-form 
returns and the net deficit reported on long-form returns 
resulting from the combination of adjusted gross deficit 
and itemized deductions or from the excess of itemized 
deductions over adjusted gross income. 

Exemptions 

Exemptions are allowed as a credit against income for 
purposes of both normal tax and surtax. A per capita 
exemption of $600 is allowed for the taxpayer, his spouse 
on a joint return, and each closely related dependent 
(specified below) who received more than one-half of his 
support from the taxpayer and who had less than $600 



of gioss income for the year, together with the additional 
exemptions allowed the taxpayer of $600 for age 65 or 
over, and $600 for blindness ot the taxpayer and/or for 
his spouse if a joint return is filed. 

Exemption for a dependent is allowable for the follow- 
ing close relatives specified by law: son or daughter (in- 
cluding legally adopted child) or descendant of either, 
stepchild; brother, sister, stepbrother, stepsister, half 
brother, half sister; parent, grandparent, or other direct 
ancestor; stepfather or stepmother; father-in-law, mother- 
in-law, brother-in-law, sister-in-law, son-in-law, or daugh- 
ter-in-law; and uncle, aunt, nephew, or niece, if related 
by blood; provided that the dependent is a citizen or 
resident of the United States or a resident of Canada 
or Mexico. 

Both the number and the amount of exemptions tabu- 
lated include the exemptions automatically allowed 
through use of the optional tax table, on returns Form 
1040A and short-form 1040, as well as exemptions on 
returns of taxpayers who compute their tax on the long- 
form. Slight duplication of exemptions exists because of 
dependents who have less than $600 of income, consisting 
of wages subject to withholding of income tax and who 
filed a return as the most convenient method of claiming 
the tax refund ; such wages are not taxable to the depend- 
ent nor do they constitute a part of the income of the 
taxpayer rightfully claiming the dependent. Exemptions 
from both returns are included. 

Tax items 

For the majority of individuals, income tax is paid, in 
whole or in part, on a current basis through the income 
tax witlilield on wages and the payments made on decla- 
ration of estimated income tax by persons who are not 
subject to the withholding on wages or whose tax with- 
held is insufficient to cover the income tax liability. The 
self-employment tax is not paid currently; however, the 
current income tax payments in excess of the income tax 
liability are applied to the self-employment tax liability 
before a refund is available. If the tax withheld and pay- 
ments on declaration do not cover the total tax liability, 
there is a balance due to be paid when the return is filed. 
If the tax withheld and payments on declaration exceed 
the total tax liability, the overpayment of tax is refund- 
able to the taxpayer unless he signifies on a return, Form 
1040, that he wishes the overpayment to be credited on 
his estimated income tax for the succeeding year. 

Total tax liability contains two elements^ — the income 
tax and the self-employment tax. The income tax ele- 
ment is the net tax after the deduction for the two allow- 
able tax credits. Self-employment tax is paid on self- 
employment income for the year, arising from certain 
kinds of business. 

Income tax liability before credits is a combination of 
the optional tax, normal tax, surtax, and alternative tax 
before the deduction of the two tax credits. 

Tax credits are allowable against the income tax for 
income tax paid to a foreign country or possession of the 



14 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



United States (with limitations) and for income tax paid 
at source on interest from tax-free covenant bonds. How- 
ever, these credits are available only to taxpayers who 
itemize their deductions. 

Income tax liability after credits is the net income tax 
liability payable. It comprises the normal tax and sur- 
tax, the optional tax paid in lieu thereof, and the alterna- 
tive tax on income containing long-term capital gain. 

Normal tax and surtax are tabulated together and 
include the optional tax. The combmed normal tax and 
surtax rates begin at 22.2 percent of the first $2,000 of 
income subject to tax and increase to 92 percent of income 
in excess of $200,000 on separate returns of husbands and 
wives and single persons not head of household, $400,000 
on joint returns of husbands and wives, and $300,000 on 
returns of heads of household. The optional tax, pro- 
vided in supplement T, states tlie income tax liabihty for 
the various adjusted gross income brackets and numbers 
of exemptions and may be used by taxpayers whose 
adjusted gross income from whatever source is less than 
$5,000. 

Alternative tax on income containing a net long-term 
capital gain or an excess of net long-term capital gain 
over net short-term capital loss is imposed only if the 
alternative tax is less than the regular normal tax and 
surtax on income that includes all gains from sales of 
capital assets. Alternative tax is the sum of (a) a partial 
tax computed at the regular normal tax and surtax rates 
on net income reduced for this purpose by an amount 
equal to 50 percent of the excess net long-term capital 
gain over net short-term capital loss, and (b) an amount 
equal to 26 percent of the entire excess of net long-term 
capital gain over net short-term capital loss. Alternative 
tax is not effective on separate returns of husbands and 
wives nor on returns of single persons not head of house- 
hold with surtax net income under $14,000; nor on jomt 
returns with surtax net income under $28,000 because of 
the split-income provision; nor on returns of heads of 
household with surtax net income under $20,000. 

Self-employment tax is based on the amount of self- 
emploj-ment income at the rate of 2% percent. It is im- 
posed whether or not there is an income tax liability. Net 
earnings from self-emplojTnent are a combination of gross 
income derived from the taxpayer's trade or business, 
reduced by allowable deductions, plus his share of self- 
employment earnings (or loss) from any partnership of 
which he is a member. However, farmers and most 
professional services are excluded from the definition of 
self-employment earnings; also, certain types of income 
and deductions are excluded, such as investment income, 
rents, interest, dividends, capital gains and losses, net 
operating loss deduction, and casualty losses. In deter- 
mniing the amount of self-employment income to be taxed, 
three factors, are considered; first, the amount of net 
earnings from self-employment must be $400 or more; 
second, the maximum self-employment income to be 
taxed is $3,600; and third, the amount of wages received 
from which social security tax has been withheld bv an 



employer. If the net earnings from self-employment are 
less than $400, they are excluded from the dehnition of 
self-employment income. If social security tax has been 
withheld from wages, the amount of such wages is sub- 
tracted from the maximum amount of $3,600 to determine 
the limit of self-employment income to be taxed. Self- 
employment income subject to tax is the smaller of two 
amounts: the excess of $3,600 over the amount of wages 
subject to social security withholding, or the amount of 
net earnings from self-employment. No exemption is 
allowed against the self-emplojinent income for purpose 
of determining the self-employment tax and no tax credit 
is allowed against the tax. 

Tax withheld from wages during 1952 was determined 
by employers either from income tax withliolding tables 
provided in the 1951 act, or by application of the 20 
percent rate, prescribed therein, to the amount of wages 
in excess of withholding exemptions. The income tax 
withheld, as shown in the wage bracket withholding 
tables, is based on various wage levels and numbers of 
withholding exemptions. However, additional with- 
holding of tax in excess of these requirements is permissible 
under agreement between employee and employer. The 
total amount of tax withheld, reported by the taxpayer, 
includes the over withholding of social security tax, that 
is, the excess over the maximum tax of $54 withheld 
because the taxpayer worked for more than one employer. 
The amount of social security tax included is not available; 
it is reported with and treated in the same manner as 
income tax withheld from wages. The entire tax withheld 
is applied as a payment toward the discharge of the total 
tax liability. 

Payments on 1952 declaration of estimated tax are 
reported by taxpayers who file returns on Form 1040. 
The payments reported are a combination of the pay- 
ments made on the 1952 Declaration of Estimated 
Income Tax, Form 1040-ES, and any credit applied 
against the estimated income tax on account of an over- 
payment of the 1951 total tax liability. The combined 
amount of payments and credit is applied toward the 
discharge of tlie total tax liability for the current year. 

Tax due at time of filing is the balance of tax liability 
remaining unpaid after the tax withheld on wages and 
the payments on 1952 declaration of estimated income 
tax have been applied against the total tax liability. 
This balance is paid with the filing of the income tax 
return after the close of the year, except tliat for the 
optional return. Form 1040A, the balance is paid upon 
assessment notice from the district director of internal 
revenue. 

Overpayment of tax liability occurs if the tax withheld 
and the payments on the 1952 declaration of estimated 
income tax are greater than the current year total tax 
liability. The tax overpayment is refunded unless the 
taxpayer requests on Form 1040 that the overpayment 
be credited on his 1953 estimated income tax. The 
separate amounts of refund and credit are not available 
this year. 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



15 



DESCRIPTION OF SAMPLE AND LIMITATIONS OF 

DATA 

Sample design.^ — The data presented for individual 
income tax returns for 1952 are derived from a stratified 
systematic sample which was selected from returns with 
adjusted gross income under $50,000. Returns with 
adjusted gross income of $50,000 or more were given 
100 percent coverage. 

The sampling strata used were based on the regular 
return sorting procedures used in the district directors' 
offices to facilitate the administrative processing of re- 
turns. The returns were sorted according to type of form 
used, presence or absence of business income, size of 
adjusted gross income, and tax status, as reported by the 
taxpayer. These sorts constituted effective sampling 
strata because the strata correlate highly with income 
and tax characteristics. 

Within each stratum the returns were numbered con- 
secutively. An independeni systematic sample was 
selected from each stratum by selecting the first sample 
return number at random, and subsequently every kih 
return thereafter. For instance, for Forms 1040 with 
adjusted gross income $10,000 to $30,000, with k equal to 
19 and the beginning number 6, the returns selected in the 
sample were numbered 6, 25, 44, 63, 82, and so on. 

The following table shows the number of returns in the 
population, the number of returns in the sample, the pre- 
scribed sampling rate, and tlie actual sampling rate, by 
estimating strata. 

NUMBER OF INDIVIDUAL INCOME TAX RETURNS FILED FOR 1952 AND 
NUMBER OF RETURNS IN SAMPLE BY ESTIMATING STRATUM 



Estimating stratum 



Form 1040A -.. 

Form 1040 with adjusted gross income 

under $10.000 - - 

Form 1040 with adjusted gross income 

$10,000 under $30.000 

Form 1040 with adjusted gross income 

$30,000 under $50,000 

Form 1040 with adjusted gross income 

$60,000 or more... -_ .., 



Grand total, all returns. 



Number of 

returns 

filed 



11, 910, 472 

42, 8,17, 443 

1,541,616 

140, 893 

78, 393 

56, 528, 817 



Number 
ofreturns 
in sample 



26, 486 
93,700 
76,583 
36, 034 
78, 393 



311,196 



Sampling percent 



Pre- 
scribed 



.233 

.223 

5.263 

25.000 

100.000 



Actual 



.221 

.218 

4.964 

25. 561 

100.000 



Weighting of the sample.^ — Tlie primary sources of 
population data were statements submitted by the district 
dii-ectors' offices showing the numbers of Form 1040A and 
Form 1040 returns filed. 

Separate systems of weighting were used for the national 
tabulations and for the State tabulations. The weights 
for the national tabulations were based on nationwide 
stratum populations obtained by summing tlie stratum 
populations reported by the district directors' offices. 
The separate district office stratum populations provided 
the basis for independent district office weights for the 
State tabulations. Actual sampling rates varied enough 
between districts so as to warrant using two separate 
systems of weights. 

As the result of using two weighting systems and 
rounded weighting factors, there exist slight discrepancies 



between items distributed by states in tables 12 and 13, 
and corresponding items shown in the national tables. 

Sampling variability. — The data for returns with ad- 
justed gross income under $50,000 are subject to sampling 
error. A range of 2 standard errors was used in comput- 
ing the possible variation of an estimate due to sampling 
error. Chances are 19 out of 20 that an estimate and the 
actual figure that would have been obtained had all re- 
turns been counted is less than the percentage shown in 
the table which follows. For example, the table shows 
that 95 percent of the time an estimate of 10,000 returns 
with adjusted gross income $10,000 to $30,000 would be 
expected to have a sampling error of less than 9 percent. 

The table on sampling variability applies to number of 
returns only. Specific consideration was not given to 
associated money amounts; in many instances, sampling 
errors of frequencies are larger than those for money 
amounts. 

Where the number of returns are subject to a maximum 
variation of more than 100 percent they are not shown 
separately since they are considered too unreliable for 
general use. They are, however, included in the totals 

RELATIVE ERROR OF ESTIMATED NUMBER OF RETURNS 



Estimated number of returns 



1,000 

5,000 

10,000 

50,000 

100,000—, 
500,000.- 
1,000,000- 
2,000,000- 



Relative error of estimated number of 
returns expressed as a percentage 



Returns with Returns with'Returns with 



adjusted gross 
income 
under 
$10,000 



adjusted gross 
income 

$10,000 under 
$30,000 



(•) 



±60 
±42 
±19 
±14 
±6 
±4 
±2 



±28 
±12 
±9 
±4 
±3 
±1 
±1 



adjusted gross 

income 
$30,000 under 

$50,000 



±11 

±5 
±4 
±2 
±1 



•Relative error more than 100 percent. 

Nonsampling errors.^ — In addition to sampling error, 
the data are subject to certain nonsampling errors. The 
nonsampling errors are the result of: (1) the use of un- 
audited tax returns as the basis for the data, resulting in 
underreporting and nonreporting of certain income items 
and overreporting of certain deduction items by the tax- 
payer, (2) errors made in sample selection, (3) errors 
resulting from the exclusion of late sample returns from 
the study, (4) errors in coverage, and (5) errors made in 
processing the data. 

Sampling errors are controllable througii tiic design 
and size of the sample; nonsampling errors are more 
difficult to control. There are no accurate measurements 
by which to evaluate the magnitude of tiie nonsampling 
error, but there is some evidence tiiat in many cases the 
sampling error is the lesser of the two. 

TABULATED DATA 

Statistical tables for individual income are tabulated 
in 13 basic tables for 1952. Data in tables 1 through 11 
are shown on a national basis; data in tables 12 and 13 
are distributed on a State basis. In seven of these tables, 



16 



INDIVIDUAL INCOME TAX KETURNS FOR 1952 



taxable and nontaxable returns are presented separately 
and in the other sLx they are combined. 

In table 1, the number of returns with adjusted gross 
income and the amounts of adjusted gross income and 
total tax liability are tabulated to show the distribution 
by adjusted gross income classes, as well as the cumulation 
at every income class level from the lowest class and from 
the highest class, together with corresponding percentages 
of the total. In these distributions, taxable and non- 
taxable returns are combined except that returns with no 
adjusted gross income are shown in aggregate, apart 
from the cumulated data. 

Table 2 shows the amounts of income and loss from 
each of the sources comprising adjusted gross income as 
reported on returns with standard deduction and on 
returns with itemized deductions. This summarization 
also shows the amount of each itemized nonbusiness 
deduction reported on returns with itemized deductions, 
subdivided between returns showing adjusted gross 
income and returns showing no adjusted gross income. 
Taxable and nontaxable returns are combined. 

Similar items for sources comprising adjusted gross in- 
come and for the itemized deductions are tabulated in 
table 3 by adjusted gross income classes. Taxable and 
nontaxable returns are tabulated together and the class 
intervals, in some instances, are broader than in sub- 
sequent basic tables. 

Table 4 presents taxable and nontaxable returns sepa- 
rately, by adjusted gross income classes. This table shows 
the sources comprising adjusted gross income, itemized 
deductions, exemptions, income tax liability, self-employ- 
ment tax, tax withheld, payments on declaration, tax due 
at time of filing, and tax overpayment, together with the 
number of returns on which each item occurs. 

In table 5, the number of individual returns is distrib- 
uted by adjusted gross income classes, cross classified by 
the size of each specific source of income and loss compris- 
ing adjusted gross income. Taxable and nontaxable re- 
turns are combined and certain of the adjusted gross in- 
come classes are merged. 

Table 6 shows a frequency distribution of returns with 
itemized deductions by adjusted gross income classes, 
crossed by net income classes, in which tlie taxable and 
nontaxable returns are separate. 

Taxable returns only are tabulated in table 7 by adjusted 
gross income classes. Here the adjusted gross income, 
exemptions, tax liability, tax credits, average tax, and 
effective tax rate are segregated by the three types of tax. 

Taxable and nontaxable returns are separately tabu- 
lated in table 8 by adjusted gross income classes; and the 
adjusted gross income, exemptions, and total tax are 
shown for each of the four categories in the classification 
for marital status of taxpayer. In the case of separate 
returns of husbands and wives, returns of heads of house- 
hold, and returns of single persons, the data are sub- 
divided to show those for men and for women. 

In table 9 will be found the total inmiher of exemptions 
claimed, the combined number of additional exemptions 
claimed for age arul blindness, and the number of exemp- 



tions other than age and blindness, that is, the per capita 
exemption claimed for the taxpayer, his spouse on joint 
returns, and his dependents. Also, a distribution of 
returns is given by the number of exemptions other than 
age and blindness (per capita). These data are tabulated 
by adjusted gross income classes, taxable and nontaxable 
separately, for each of the four categories in the classifica- 
tion for marital status of taxpayer. 

Table 10 presents salaries and wages, interest, and 
dividends by marital status of taxpayer, in addition to 
the exemptions and tax liability. This table is prepared 
on the basis of narrow adjusted gross income classes for 
returns under $5,000 adjusted gross income, the class 
intervals being $100 and taxable returns are separate from 
nontaxable returns. For returns with $5,000 or more 
adjusted gross income, the class intervals agree with 
those in the related tables 8 and 9. Because of the sample 
limitations, however, it is not possible to give such great 
detail for the separate returns of husbands and wives, nor 
for the returns of heads of household and other single 
persons; therefore, only the totals for these groups are 
included. 

Capital gain and loss details appear in table 11. Data 
for returns with a net loss from sales of capital assets are 
tabulated separately from returns with net gain from such 
sales. The latter returns are segregated to show returns 
with alternative tax independently from returns with 
normal tax and surtax; but the 32,296 returns with only 
self-employment tax which are included in the taxable 
returns with net gain from sales of capital assets are not 
tabulated as a separate category. In all the breakdowns, 
net short-term capital gain and loss (after carryover), net 
long-term capital gain and loss (100%), and the capital 
loss carryover from the 5 preceding years are tabulated. 
Other data include capital loss before statutory limitation 
regarding deductible loss, amount of capital loss deducted 
in computing adjusted gross income, capital gain in 
adjusted gross income, and the excess of net long-term 
capital gain over net short-term capital loss which is 
taxed at the special rate of 26 percent. These data are 
shown for taxable and for nontaxable returns by adjusted 
gross income classes. 

Tables 12 and 13 contain data distributed by States 
and Territories. These tables contain only returns with 
adjusted gross income and the taxable and nontaxable 
returns are combined. In table 12, State totals for three 
sources of income, adjusted gross income, income tax 
liability, and self-employment tax are tabulated. Table 
13 shows the adjusted gross income and income tax 
liability by 15 adjusted gi-oss income classes, established 
especially for this table, which differ somewhat from the 
classes used in tables where data are distributed on a 
national basis. 

In addition to the tables for 1952 data, there are six 
tables, numbered 14 through 19, containing historical 
data for 1944 and subsequent years. 

Throughout the tables, values in thousand dollars and 
percentages are rounded and, therefore, may not add to 
the totals. 



BASIC TABLES 
INDIVIDUAL RETURNS, 1952 



Page 

1. Number of returns, adjusted gross income, and total tax — simple and 

cum ulated disti-ibutions 18 

2. Sources of income and loss, itemized deductions, and net income, by 

returns with standard or itemized deductions 19 

3. Sources of income and loss and itemized deductions, by adjusted 

gross income classes 20 

4. Sources of income and loss, deductions, exemptions, and tax items — 

frequencies and amounts by adjusted gross income classes 21 

5. Frequency distributions of returns by size of source 26 

6. Frequency distribution of returns by size of net income 31 

7. Adjusted gi-oss income, tax liability, average tax, and effective tax 

rate, by types of tax 33 

8. Adjusted gross income, exemption, and total tax, by marital status 

of taxpayer 34 

9. Exemptions by marital status of taxpayer 36 

10. Selected sources of income, adjusted gross income, exemptions, and 

tax liability by detailed adjusted gross income classes for all 
returns and joint returns, and in total for other marital statuses — 40 

11. Capital gains and losses, short- and long-term, by adjusted gross 

income classes 43 

12. Selected sources of income and tax liability by States and Terri- 

tories ^ 45 

13. Adjusted gross income and income tax liability, by States and Terri- 

tories and by adj usted gross income classes 46 



17 



18 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



Talilo 1. -NUMBER OF RETURNS, ADJUSTED GROSS INCOME, AND TOTAL TAX -SIMPLE AND CUMULATED DISTRIBUTIONS 



Adjusted gross income classes and classes cumulated 



Percent of 
total 



Adjusted gross income 



Amount 

(Thousand dot lor a) 



Percent of 
total 



Total tax liability 
(after credits) 



Amount 
(Thouaand dollara) 



Percent of 
total 



130,000 or more. 
120,000 or more. 
$15,000 or more. 
$10,000 or more. 
$9,000 or more.. 

$8,000 
$7,000 
$6,000 
$5,000 
$^,500 

$4,000 
$3,500 
$3,000 
$2,500 
$2,000 

$1,500 or more. 
$1,000 or more. 
$600 or more . . . 
All returns .... 



or more. 
or more, 
or more, 
or more. 

or more. 

or more, 
or more, 
or more, 
or more. 
or more. 



Retuma with no adjusted groos income. 
Total returns 



taxable and nontaxable. 



(1) 



(2) 



(3) 



(4) 



(5) 



ADJUSTED GROSS INCCME CUSSES 

RetTjrns with adjusted gross income, taxable and nontaxable: 

Under »600 

$600 under SI, 000 

$1,000 under jl,500 

11,500 under $2 ,000 

$2,000 under 82,500 

$2,500 under $3,000 

$3 ,000 under $3 ,500 

$3,500 under $A,000 

$4,000 under $i,500 

$4,500 under $5,00tf 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total 

Returns with no adjusted gross income, taxable and nontaxable 

Grand total 

CUMULATED FR<M LOWEST ADJUSTED GROSS INCCME CLASS 

Returns with adjusted gross income, taxable and nontaxable: 

Under $600 

Under $1,000 

Under $1,500 

Under $2,000 

Under $2,500 

Under $3,000 

Under $3,500 

Under $A,000 

Under $4,500 

Under $5,000 

Under $6,000 

Under $7,000 

Under $8,000 

Under $9,000 

Under $10,000 

Under $15,000 

Under $20,000 

Under $30,000 

Under $50,000 

Under $100,000 

Under $200,000 

Under $500,000 

Under $1,000,000 

All returns 

Returns with no adjusted gross income, taxable and nontaxable 

latal returns 



CUMULATED FROM HIGHEST ADJUSTED GROSS INCOME CLASS 

Returns with adjusted gross income, taxable and nontaxable: 

$1,000,000 or more 

$500,000 or more 

$200,000 or more 

$100,000 or more 

$50,000 or more 



3,966,385 
3,163,051 
4,810,380 
4,712,434 
4,806,023 

4,914,530 
4,984,345 
4,702,594 
4,118,481 
3,515,457 

4,721,071 

2,889,195 

1,588,929 

894,935 

523,326 

983,218 
324,169 
252,354 
152,932 
65,403 

14,114 
3,199 

416 
148 



'421,728 



'56,528,817 



3,966,385 
7,129,436 
11,939,316 
16,652,250 
21,458,273 

26,372,803 
31,357,148 
36,059,742 
40,178,223 
43,693,680 

48,414,751 
51,303,946 
52,892,875 
53,787,810 
54,311,136 

55,294,354 

55,618,523 
55,870,877 
56,023,809 
56,089,212 

56,103,326 
56,106,525 
56,106,941 
56,107,089 



'421,728 



148 

564 

3,763 

17,877 
83,280 

236,212 

488,566 

812,735 

1,795,953 

2,319,279 

3,214,214 
4,803,143 
7,692,338 
12,413,409 
15,928,866 

20,047,347 
24,749,941 
29,734,286 
34,648,816 
39,454,839 

44,167,273 
48,977,653 
52,140,704 
56,107,089 



'421,728 



8.6 
8.4 
8.6 

8.8 
8.9 
8.4 
7.3 
6.3 

8.4 
5.1 
2.8 
1.6 
.9 






1,342,281 
2,541,741 
5,989,941 
8,252,809 
10,815,569 

13,520,933 
16,197,399 
17,619,912 
17,487,070 
16,757,918 

25,796,358 
18,646,580 
11,846,456 
7,567,219 
4,954,837 

11,679,763 
5,562,631 
6,084,529 
5,758,342 
4,340,688 

1,363,390 
893,049 
278,810 
289,224 



0.6 

1.2 

2.8 

3 

5.0 

6.3 
7.5 
8.2 
8.1 



8.6 
5.5 
3.5 
2.3 

5.4 
2.6 
2.8 
2.7 
2.0 



914 

50,196 

279,759 

489,956 

764,306 

1,041,047 
1,398,839 
1,580,937 
1,679,127 
1,673,264 

2,971,338 
2,380,818 
1,651,896 
1,122,814 
781,549 

2,039,543 
1,165,201 
1,525,521 
1,833,798 
1,812,721 

935,235 
495,908 
164,963 
180,198 



216,087,449 
*797,541 



28,019,853 



'215,289,908 



28,020,288 



7.1 
12.7 
21.3 
29.7 
38.2 
47.0 
55.9 
64.3 
71.6 
77.9 

86.3 
91.4 
94.3 
95.9 
96.8 

98.6 
99.1 
99.6 
99.9 
99.9 

99.9 
99.9 
99.9 
100.0 



1,342,281 
3,884,022 
9,873,963 
18,126,772 
28,942,341 

42,463,274 
58,660,673 
76,280,585 
93,767,655 
110,525,573 

136,321,931 

154,968,511 
166,814,967 
174,382,186 
179,337,023 

191,016,786 
196,579,417 
202,663,946 
208,422,288 
212,762,976 

214,626,366 
215,519,415 
215,798,225 
216,087,449 



0.6 
1.8 
4.6 
8.4 
13.4 

19.7 
27.1 
35.3 
43.4 
51.1 

63.1 

71.7 
77.2 
80.7 
83.0 

88.4 
91.0 
93.8 
96.5 
98.5 

99.3 
99.7 
99.9 
100.0 



914 

51,110 

330,869 

820,825 

1,585,131 

2,626,178 
4,025,017 
5,605,954 
7,285,081 
8,958,345 

11,929,683 

14,310,501 
15,962,397 
17,085,211 
17,866,760 

19,906,303 
21,071,504 
22,597,025 
24,430,823 
26,243,544 

27,178,779 
27,674,687 
27,839,655 
28,019,853 



•797,541 



435 



'215,239,903 






.9 
1.4 
3.2 
4.1 

5.7 

8.6 

13.7 

22.1 

28.4 

35.7 
44.1 
53.0 
61.8 
70.3 

78.7 
87.3 
92.9 
100.0 



289,224 

568,034 

1,461,033 

3,324,473 

7,665,161 

13,423,503 

19,508,032 
25,070,663 
36,750,426 
41,705,263 

49,272,482 
61,118,938 
79,765,513 
105,561,876 
122,319,794 

139,806,864 
157,426,776 
173,624,175 
187,145,108 
197,960,677 

206,213,486 
212,203,427 
214,745,168 
216,087,449 



0.1 

.3 

.7 

1.5 

3.5 

6.2 
9.0 
11.6 
17.0 
19.3 

22.8 
28.3 
36.9 
48.9 
56.6 

64.7 
72.9 
30.3 
36.6 
91.6 

95.4 
98.2 
99.4 
100.0 



180,198 

345,166 

841,074 

1,776,309 

3,539,030 

5,422,828 
6,948,349 
8,113,550 
10,153,093 
10,934,642 

12,057,456 
13,709,352 
16,090,170 
19,061,508 
20,734,772 

22,413,899 
23,994,836 
25,393,675 
26,434,722 
27,199,028 

27,688,984 
27,968,743 
28,018,939 
28,019,853 



'797,541 



435 



'56,528,817 



'215,289,908 



28,020,288 



See text for Individual returns for "Explanation of Classifications and Terms" and 
"Description of Sample and Limitations of Data." 

^Includes nontaxable returns with adjusted gross Income exceeding the class limit. 
^Less than 0.05 percent. 



'includes 50,991 returns with no information reported. 

'Adjusted gross deficit. 

'Adjusted gross income less adjusted gross deficit. 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



19 



Table 2.— SOURCES OF INCOME AND LOSS. ITEMIZED DEDUCTIONS, AND NET INCOME, BY RETURNS WITH STANDARD OR ITEMIZED DEDUCTIONS 



Sources of income and deductions 



Number of returns, taxable and nontaxable. 



Sources : 

Salaries and wages. 



Interest received 

Annuities and pensions. 

Rents and royalties; 

Net profit 

Net loss 



Business or profession: 

Net profit 

Net loss 



Partnership; 
Net profit. 
Net loss. . . 



Net operating loss deduction. 

Sales of capital assets: 

Net gain 

Net loss 



Sales of property other than capital assets: 

Net gain 

Net loss 



Income from estates and trusts 

Miscellaneous income 

Adjusted gross income or deficit. 



Itemized deductions: 

Contributions 

Interest paid 

Taxes 



Losses from fire, storm, etc.... 
Medical, dental, etc., expenses. 
Miscellaneous deductions 



Total deductions. 



Net income or deficit. 



All returns 



(1) 



^56,528,817 



Returns with 
standard 
deduction 



(2) 



43,693,041 



Returns with itemized 
deductions 



Showing ad- 
justed gross 
income 



(3) 



Showing no 

adjusted 
gross income 



(Thousand dol lars) 



,339,032 
,B59,624 
,8ie,899 
583, 8U 



l,A89,096 
-108,104 



:, 194, 993 
,883,373 



,833,798 
391,519 



,835,865 

365,462 



116,596 
139,769 

,711,235 

801,836 



^215,289,908 



119 

1; 



653,908 
425,370 
806,637 
316,490 



,717,911 
174,946 



1,318,181 
496,862 



,398,604 

94,303 



31,503 



,101,962 
152,853 



45,880 
44,905 



372,881 
484,884 



,539,486 
,408,845 
,015,700 
265,132 



,714,602 
208,266 



,862,498 
512,597 



,400,538 
146,982 



,659,126 
195,704 



56,946 
44,240 



,327,258 
309,994 



3,114,739 
2,221,353 
3,167,778 

367,517 
2,133,130 

2,552,035 



=60,833,593 



See text for individual returns for "Explanation of classifications and Terms" and for "Description of Sample and Limilat-: !.;- ." Data. " 

^Includes 50,991 returns with no ii formation reported. 

^Adjusted gross income less adjusted gross deficit. 

^Adjusted gross deficit. . , ^ j ■ ^ * -, 

'Number of returns is subject to sampling variation of more than 100 percent; therefore, data are not shown separately. However, they are included in totals. 

'Net income less net deficit. 



(4) 



145,636 
25,409 
24,562 
2,139 



56,583 
24,892 



14,314 
873,919 



34,656 

150,234 



90,865 



74.777 
16,905 



13,770 
50,624 



11,096 
6,953 



'797,541 



1,744 
6,123 
7,918 



('! 



5,104 
5,905 



20 
21 
22 

23 
24 
25 



26,799 



'824,341 



20 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



0)0 □ ~. 



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r b TO c 



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1 .> to -^ U 



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386 
986 
887 
782 
623 


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m >r ON ^o 

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1,13V 
1,99"; 
1,608 
i,087 


1,952 
1,207 
1,338 
1,105 
563 




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INDIVIDUAL INCOME TAX RETURNS FOR 1952 



21 



-i) f. TO CT\ O 



nn: 



OJ (M fM ry ry 



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12 



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INDIVIDUAL INCOME TAX RETURNS FOR 1952 



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23 



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INDIVIDUAL INCOME TAX RETURNS FOR 1952 



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27 



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CM ^ -J 



o un -4 o <n 



-U 



■t^ § ■«* 



lA O en lA >± 
O --l- AJ o to 

vD lA ON tn AJ 



3 5:SS 


0^'o nD en en 


™~ 


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O^ -H ^ vO tfl 


-1- -N 



-ONtnoo ooNO-4y 



en CO o o 

On rH CM ON 
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en CO o ON tn 

NO ^ C- CM CM 
O ■-( 00 O On 



o lA c^ r- 0^ 

<A C*- tn (K <H 
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O ff- <M ^ nD 



C^ On en CM O 
CO tn O CT' CM 
CM aJ ^ « u^ 



£> en c- r- nd 

On CM lA ON •£> 
ON -4 C^ -4 P" 



3 CO (n CM ^ 
^ ^ c^ :i "A 

3 CO CO 00 00 



t*- t^ (T- CM «~i 



CO lA (M -J OJ 
CO 00 ^ H 
rH tn 



nO CM -4- O 
O .H n6 o> 
>0 CM '^ON CO 



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CM nO> — CM H 



sa 



c -.t m nD 

rH 1» rH AJ 
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<M -vt — • fM 



a-4 nD O CO 
lA O f-1 to 
•4' O^ [^ On On 



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en -3- "H >A u 
vj- -} CO ^ u 



-4- NO 
lA lA - 

O CO^ 



nO cm 

[> cn 



(\ o ir\ f 
H lA M -. 
ON lA o u 



lA CM ON -O nD 

c> rH nH en r-i 
CNj r~ 



-— ^__- CO '■ 



TO tn t- u 

rH -4 On r 
^ CM C5 CM U 



I r-l nO O >0 

O CM O lA 

-— -^-- -— O ^O ON nD 

—"^^ —'-J- to CM 



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c^ nd cn nO >t 



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o o -H r- 
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nO [-- CO CM C 
-4 fH O NO o 
On un cn >j r- 



— .-^ -^ ^-'cn en (■ 



42,618 
22,910 
7,339 
13,264 


2,287 

5,511 

630 

263 

73 


vt \D t^ \0 a^ 
m ^ CT- fH O 


iH (D ^ m o> 



m m t^ CM ON 
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r^ lA tM ^ O 
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CO O 0^ \D t-- 
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tn m <H AJ o 
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sssss 




7,776 
2,308 
2,764 
2,764 


3,222 

4,594 
3,242 
7,339 


0,705 

1,229 

503 

111 



fn o» -J c- 

O lA -J CO 
■> -J- vO C-- CM 
-NO en AJ AJ 



-4 ^ 00 \0 

s ;^ '-' 5? 

r- — C^ rH ON 



rH CO O CM m 

ON r- 00 --( (M 

AJ 0> AJ ^ 



t> On -4 cn 

00 in -J- o 

•'— CM >i3 I> -4 
■J- ., ^ - ^ 

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(JN (M -4 ON 

m o -} lA 

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-cn m CM en 



AJ C^ m ^H lA 

AJ CO o --H tn 
CM CM ■4- en -J' 
en AJ nD CM rH 



(M CM en On <M 

O rH CO nD en 

CM CM cn i-f 



^-' -4 AJ cn— ' 



3 >r ON jA 

■N O rH C^ 

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m -J lA -4 AJ 

-4 cn r-l en en 
< fn AJ ,H tn 


ND ON ON ND rH 


tn nD lA 
[^ cn CO ON to 

lA CO ^ NO -4 


^s^§s 


r- CM lA C- 00 

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0^ P -4 CM *" 



I c- o 

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I CM r. 
cn to 

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lA rH M , 

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C^ AJ ir\ c 

CO nD no f 

CM l> ^en Nj 

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I nD o 
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rH O-^u-N V 
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88 8S 



3 "A O <A C 



CM cn -4 lA 00 i-i 
■«■■*> -(fr *> ■» -vy 



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"O O O "A 

o m "A rH -w 

(h ti (4 0) 

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4il 

CO Ul 

a o 

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'88 885 



3 <e--w-w- <» ( Q « o « 



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t4 0) oj a> 1 
01 -o -a "a [ 



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41 -a 

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« CO 3 

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nd r^ CO ON o 



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:i3a? 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



29 



Hrvjr^NfiTi \Ot--ooCTiO rHcym-j-ir* \DC^ ro 



2ia; 



■1CvJm-fT\ '■O C^ to O^ O "HtM 



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f^ iH en -^ 

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0>0m OJC-C-CT«(n [■-■-< 

-»-»-*-»■* >*-* R-« »»** 

• — ^-'— ■— — ^-— inryo CM -4- tn rH 

r-l M 

c^ ro(n\0 CT>tn'nr^c~- iTiOj 

TO TOi^fn P-p-iiTimo 

■ — .-—---.-— .--~ <\J--^f\JOTO vDCT'>Hf-Hfn 

— — -w- — -— ry ■ — ^ojuic-- tn cr cvj "H 

ifs >JO>£)t>rv M)TOm\D(n 

to '"^—^ *-"** QNioTOtf^rn >OxOy^"*tfn 

rH^---— ■—' t\ ir\ -O -t (^ (nfSJfM'H 

r\j in lAmopm iAr-«r-(nTO 

CM----— ---OJ >0>C>OTOV> £>^-^r-fn 

m *--■ — '■-' TO fntno^r-m TOONrn'-H 

rH -J-TOpH Orrjc-r>j(%i lAtn^vDO t^OJ 

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rH rHrHrHrHrCl rHOJ 

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rHrH r-l r-l CM --4 (^ CM 

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tnoJ-J■c^>^ ^jinco-^'n c^-oiopM f^rH 

rHOrHOrH mr-iriincN rr»mc^f--if\ f^ i-t 

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ri C-- to tn 
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C- 0> P C- 'D 
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30 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



«0 1> CO c o 



^0 [^ CD CT- O 



«£ 



§2 



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3 §? 



^"§5 



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C- «0 m CO 











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>j o m r 
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r> -O -H CM CO 
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lA O O CO ■il 


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rH O O C^ O 

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a» o^ o P- <■ 
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vD \D O^ O en 

[^ CO nH in CO 
r- c- si- rvj en 



rH -^J CTv r\J J3 



•J (T. <H vO 


3,659 
5,489 
11,912 
8,262 

15,575 


4,118 

6,041 

731 

394 

121 


t^ rH »0 (M 

to vD t^ CT* 

c\) to r~ a) 


in CM so rsj -.f 
fn OS ^ f^ /H 
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nO -d- m o ^ CO >]■ 



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INDIVIDUAL INCOME TAX RETURNS FOR 1952 



31 



\0 t- 00 ON O 



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4 f>j aj oj oj rj fM 



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CM --*__ o ya CM 

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3,202 
3,222 

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32 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



ifMr^-j-in \DC-too\0 



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INDIVIDUAL INCOME TAX RETURNS FOR 1952 



33 



Table 7.-ADJ11STED GROSS INCOME. TAX LIABILITY, AVERAGE TAX. AND EFFECTIVE TAX RATE, BV TYPES OF TAX 



No adjusted gross income... 

Under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3,500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

,000 under $9,000 

,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000.. 
$1,000,000 or more 

Total taxable returns. 



Taxable returns under $5,000 — 
Taxable returns $5,000 or more. 



Adjusted gross income classes 



$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3,500 

$3,500 under $4,000 

,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000... 
$6,000 under $7,000. . . 
$7,000 under $8,000... 

,000 under $9,000... 
$9,000 under $10,000.. 
$10,000 under $15,000. 
:tl5,000 under $20,000. 
$20,000 under $30,000. 
$30,000 under $50,000. 



$50,000 under $100,000 

$100,000 under $200,000... 

$200,000 under $500,000 

$500,000 under $1,000,000. 
$1,000,000 or more 



Total returns with normal tax and surtax. 



Under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000. 
$1,000,000 or more 



Total returns with alternative tax. 



No adjusted gross income. 

Under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3,500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 or more 



Total returns with only self-employment tax. 



Number 

of 
returns 



(1) 



Adjusted 
gross 
income 

( Thousand 
dollars) 



(2) 



Amount 

of 
exemption 

f Thousand 
dollars) 



Income tax 
liability 
before 
credits 

( Thousand 
dollars) 



Creiits for 

foreign tax 

paid and 

tax paid at 

source 

(Thousand 

dollars) 



Income t ax 

liability 

after 

credits 

( Thouaartd 
dollars) 



Self- 
eii?)loyment 



( Thousand 
dollars) 



Average 
income tax 



(8) 



Effective 
tax rate - 
income tax 

liability as 

percent of 

adjusted 

gross income 



All taxable returns 



9,441 

71,890 

1,556,341 

2,981,059 

3,173,933 

3,708,087 
4,003,373 
4,353,144 
4,302,030 
3,940,313 

3,363,213 

4,721,071 

2,889,195 

1,588,929 

894,935 

523,326 
933,218 
324,169 
252,354 
152,932 

65,403 

14,114 

3,199 

416 

148 



43,876,273 



31,462,864 
12,413,403 



'23,425 

34,962 

1,299,717 

3,740,253 

5,548,707 

8,344,098 
11,040,894 
14,160,993 
16,118,661 
16,731,149 

15,950,474 
25,796,358 
18,646,580 
11,846,456 
7,567,219 

4,954,837 
11,679,763 
5,562,631 
6,084,529 
5,758,342 

4,340,688 

1,863,390 

893,049 

278,810 

289,224 



^198,508,359 



^92,946,483 
105,561,876 



14,543 

73,148 

1,055,848 

2,232,408 

2,862,955 

4,041,051 
5,141,006 
6,272,119 
7,119,918 
7,150,324 

6,465,569 
9,222,418 
5,693,307 
3,092,647 
1,747,577 

995,960 
1,936,171 
653,452 
514,951 
315,072 

129,755 
26,552 

5,752 
700 
218 



42,434,889 
24,335,032 



46,964 
271,040 
477,751 

748,512 
1,022,509 
1,379,353 
1,562,420 
1,663,852 

1,660,191 
2,952,014 
2,365,488 
1,641,431 
1,115,570 

776,433 
2,025,425 
1,159,513 
1,522,418 
1,833,379 

1,814,927 
937,970 
498,463 
165,609 

181,472 



27,822,714 



8,332,597 
18,990,117 



73 
35 
12 

187 
561 
165 
23 
23 

816 
1,050 

926 
1,951 
2,823 

3,635 
3,081 
2,599 
645 
1,276 



19,883 



309 
19,574 



46,964 
271,039 
477,751 

748,512 
1,022,509 
1,379,285 
1,562,384 
1,663,340 

1,660,004 
2,951,453 
2,365,323 
1,641,408 
1,115,547 

775,617 
2,024,375 
1,158,592 
1,520,467 
1,830,556 

1,811,292 
934,389 
495,364 
164,964 
180,196 



27,802,831 



8,832,288 
18,970,543 



435 

914 

3,232 

8,720 

12,205 

15,794 
13,538 
19,554 
18,553 
15,287 

13,260 
19,885 
15,495 
10,488 
7,267 

5,932 

15,158 
6,609 
5,054 
3,242 

1,429 
346 



126,492 
90,965 



33 
98 
161 

210 
263 
322 
366 
424 

495 

626 

819 

1,033 

1,247 

1,482 
2,059 
3,575 
6,026 
11,972 

27,697 
66,238 
155,200 
396,543 
1,217,541 



649 



290 
1,529 



Returns with normal tax and surtax with or witnout self-employment tax 



1,420,812 
2,760,133 
2,963,805 
3,568,839 
3,833,813 
4,283,561 

4,268,642 
3,922,434 
3,356,810 

4,715,531 
2,386,908 
1,588,472 

394,935 
523,326 
933,014 
321,820 
246,205 
122,475 

35,027 

5,332 

901 



42,752,975 



1,191,714 
3,463,102 
5,176,783 
8,030,291 
10,717,097 
13,935,872 

15,993,637 
16,554,671 
15,920,393 
25,766,505 
13,631,679 
11,842,355 

7,567,219 
4,954,337 
11,677,403 
5,519,497 
5,932,936 
4,519,191 

2,231,521 
690,255 
245,143 
60,946 
93,245 



190,867,852 



852,488 
1,856,953 
2,410,103 
3,695,867 
4,815,927 
6,050,217 

7,003,009 
7,079,393 
6,437,577 
9,199,634 
5,630,635 
3,031,549 

1,747,577 
995,960 

1,935,658 
651,395 
509,045 
259,404 

70,839 

10,233 

1,617 

157 

54 



54,355,343 



46,964 

271,040 

477,751 

748,512 

1,022,509 

1,379,358 

1,552,420 
1,663,852 
1,660,191 
2,952,014 
2,365,483 
1,641,431 

1,115,570 
776,433 
2,025,425 
1,145,419 
1,469,223 
1,400,005 

959,161 
360,022 
148,725 
41,534 
54,540 



35 
12 
187 
561 
165 
23 

23 

816 
1,050 

922 
1,638 
1,850 

1,703 

1,206 

1,031 

185 

578 



12,166 



46,954 
271,039 
477,751 
748,512 
1,022,509 
1,379,285 

1,562,334 
1,663,340 
1,660,004 
2,951,453 
2,365,323 
1,641,408 

1,115,547 
775,617 
2,024,375 
1,145,497 
1,467,585 
1,398,155 

957,452 
358,315 
147,694 
41,349 
63,962 



375 
2,999 
5,105 
9,885 
12,544 
15,599 

16,373 
14,108 
12,854 
19,497 
15,310 
10,451 

7,267 
5,932 
15,151 
5,570 
4,975 
2,623 

795 

184 

15 

1 



33 

98 
161 
210 
253 
322 

356 
424 
495 
626 
819 
1,033 

1,247 
1,432 
2,059 
3,559 
5,961 
11,416 

27,335 

67,295 

163,922 

464,596 

1,560,049 



591 



Returns with alternative tax with or without self-employment tax 



2,268 
6,123 
30,425 

30,369 

8,782 
2,294 

327 
107 



80,700 



41,613 
151,031 
,237,936 

,053,714 

,,173,135 
546,815 
217,854 
195,979 



5,723,147 



1,900 

5,681 

55,621 

58,350 

16,319 

4,130 

542 

164 



143,408 



13,039 

53,195 

433,262 

855,696 

577,948 
349,738 
124,075 
116,832 



313 

361 
1,356 

1,375 

1,568 

450 

598 



7,535 



13,095 

52,882 

432,401 

853,340 

575,073 
343, 170 
123,515 
116,234 



2,516,310 



32 

77 

617 

634 

162 

29 

3 

2 



5,774 

3,630 

14,212 

28,116 

65,597 

151,774 

378,028 

1,036,299 



31,181 



Returns with only self-employment tax 



9,441 
71,890 
135,529 
220,965 
210,128 

139,243 
119,560 
69,583 
33,338 
17,879 
6,403 

5,490 
2,287 
(') 



1,042,598 



'23,425 
34,962 

108,003 
277, 151 
371,924 

313,807 
323,797 
224,121 
125,024 
76,478 
30,076 

29,853 
14,901 



^1,917,360 



14,543 

79,148 

203,360 

375,455 

452,852 

X5,184 
325,079 
221,902 
116,909 
70,930 
27,992 

22,783 
13,172 



182 



435 

9U 

2,357 

5,721 

7,100 

5,903 
5,994 
3,955 
2,175 
1,179 
406 

383 
185 



(') 



36,783 



See text for individual returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations of Data." 

'Adjusted gross deficit. 

^Adjusted gross income less adjusted gross deficit. 

'Number of returns is subject to sampling variation of more than 100 percent; therefore, data are not shown separately 



(9) 



3.9 
7.8 
9.2 

9.3 
9.5 
9.9 
9.8 
10.0 

10.4 
11.5 
12.7 
13.9 

14.7 

15.7 
17.3 
20.3 
25.0 
31.3 

41.7 
50.2 
55.6 
59.2 
62.3 



14.1 



9.7 
18.0 



3.9 
7.3 
9.2 
9.3 
9.5 
9.9 

9.8 
10.0 
10.4 
11.5 
12.7 
13.9 

14.7 
15.7 
17.3 
20.8 
24.7 
30.9 

42.0 
52.0 
60.2 
67.3 
63.5 



13.2 



31,5 
35.0 
35.0 
41,5 

49.1 
53,3 
56,7 
59,3 



44,0 



However, they are included in totals. 



34 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



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INDIVIDUAL INCOME TAX RETURNS FOR 1952 



35 



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38 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



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C^->tiANO[> COO^OHCMC 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



39 



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40 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



Table lO.-SSLECTED SOURCES OF INCOME, ADJUSTED GROSS INCOME, EXEMPTIONS, AND TAX LUBILITY BY DETAILED ADJUSTED GROSS INCOME CLASSES FOR ALL RETURNS AND 

JOINT RETURNS. AND IN TOTAL FOR OTHER MARITAL STATUSES 



Adjusted gross income classes 



Number 
of 

returns 



Salaries 
and wages 



(Thousand 
dollars) 



( Thousand 
doUara) 



Interest 
received 



(Thousand 
dollars) 



Adjusted 
gross 
income 

( Thousand 
dollars) 



Aggregate exemptions 



Number 
of 

exemptions 



Amount of 
exemption 

(Thousand 
dollar,) 



Income tax 
liability 

(after 
credits) 

(Thousand 
dollars) 



Self- 
employment 
tax 

(Thousand 
dot lars) 



(1) 



(2) 



(3) 



(4) 



(5) 



(6) 



(7) 



(3) 



Taxable returns: 

No adjusted gross income.. 

Under $600 

$600 under $700 

$700 under $800 

$800 under $900 

$900 under $1,000 

$1,000 under $1,100 

$1,100 under $1,200 

$1,200 under $1,300 

$1,300 under $1,400 

$1,400 under $1,500 

$1,500 under $1,600 

$1,600 under $1,700 

$1,700 under $1,800 

$1,800 under $1,900 

$1,900 under $2,000 

$2,000 under $2,100 

$2,100 under $2,200 

$2,200 under $2,300 

$2,300 under $2,400 

$2,400 under $2,500 

$2,500 under $2,600 

$2,600 under $2,700 

$2,700 under $2,800 

$2,800 under $2,900 

$2,900 under $3,000 

$3,000 under $3,100 

$3,100 under $3,200 

$3,200 under $3,300 

$3,300 under $3,400 

$3,400 under $3,500 

$3,500 under $3,600 

$3,600 under $3,700 

$3,700 under $3,800 

$3,800 under $3,900 

$3,900 under $4,000 

$4,000 under $4,100 

$4,100 under $4,200 

$4,200 under $4,300 

$4,300 under $4,400 

$4,400 under $4,500 

$4,500 under $4,600'. 

$4,600 under $4,700 

$4,700 under $4,800 

$4,300 under $4,900 

$4,900 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000. . . 
$200,000 under $500,000... 
$500,000 under $1,000,000. 
$1,000,000 or more 

Total taxable returns 

Nontaxable returns: 

No adjusted gross income.. 

Under $600 

$600 under $700 

$700 under $800 

$800 under $900 

$900 under $1,000 

$1,000 under $1,100 

$1,100 under $1,200 

$1,200 under $1,300 

$1,300 under $1,400 

$1,400 under $1,500 

$1,500 under $1,600 

$1,600 under $1,700 

$1,700 under $1,800 

$1,800 under $1,900 

$1,900 under $2,000 

$2,000 under $2,100 

$2,100 under $2,200 

$2,200 under $2,300 

$2,300 under $2,400 

$2,400 under $2,500 

$2,500 under $2,600 

$2,600 under $2,700 

$2,700 under $2,800 

$2,800 under $2,900 



43,876,273 



9,441 


1,973 


71,890 


7,513 


153,505 


75,706 


447,347 


288,519 


467,893 


348,333 


487,596 


390,251 


593,406 


561,202 


554,871 


569,268 


555,129 


598,971 


627,449 


704,245 


640,244 


766,207 


671,466 


892,416 


613,820 


858,003 


616,822 


909,048 


616,420 


953,782 


655,405 


1,073,011 


750,535 


1,298,108 


754,614 


1,384,634 


693,447 


1,355,160 


753,498 


1,517,765 


755,993 


1,631,137 


728,861 


1,608,445 


745,297 


1,722,034 


848,282 


2,041,615 


834,886 


2,096,875 


846,047 


2,182,462 


857,674 


2,371,339 


839,632 


2,366,023 


840,019 


2,441,312 


900,599 


2,727,777 


905,220 


2,818,145 


864,122 


2,772,154 


895,997 


2,969,386 


866,914 


2,966,121 


856,880 


3,025,987 


818,117 


2,917,919 


805,088 


2,998,025 


817,130 


3,100,859 


792,835 


3,115,281 


784,105 


3,154,650 


741,155 


3,000,580 


718,024 


3,028,506 


700,599 


2,955,149 


673,015 


2,888,208 


649,493 


2,901,728 


622,082 


2,792,878 


4,721,071 


23,495,114 


2,889,195 


16,533,232 


1,588,929 


10,291,984 


894,935 


6,263,872 


523,326 


3,777,491 


983,218 


7,172,156 


324,159 


2,590,932 


252,354 


2,435,160 


152,932 


2,102,804 


65,403 


1,415,540 


14,114 


463,227 


3,199 


140,748 


416 


17,596 


148 


4,439 



159,853,105 



*412,287 


143,665 


,894,495 


1,189,738 


624,408 


310,464 


304,531 


140,110 


312,669 


177,403 


365,102 


233,245 


378,599 


265,584 


403,152 


323,148 


475,142 


410,751 


319,332 


304,887 


252,056 


258,409 


274,720 


297,838 


300,664 


375,885 


303,760 


418,600 


329,202 


477,716 


330,155 


505,072 


222,464 


355,461 


204,947 


361,735 


227,750 


394,785 


215,405 


397,030 


227,370 


452,005 


234,044 


494,203 


238,517 


541,733 


130,310 


298,392 


145,326 


354,071 



(1) 

(M 

438 
1,526 
3,586 

4,148 
3,003 

2,789 
4,540 
5,701 

8,052 
11,848 
10,853 
13,777 
10,341 

11,501 
12,671 
13,178 
15,596 
13,307 

13,780 
12,518 
11,587 
15,448 
15,531 

22,710 
21,820 
18,072 
13,234 
24,825 

21,813 
15,239 
20,444 
15,840 
14,210 

18,194 
15,592 
17,059 
9,963 
19,585 

22,252 
21,252 
19,023 
15,964 
22,922 

14,922 
219,472 
178,390 
153,880 
144,137 

149,491 
592,188 
417,070 
593,180 
729,432 

802,253 
502,339 
312,377 
100,881 
132,139 



5,530,848 



24,559 

17,421 

9,580 

8,493 

5,350 

9,246 
11,118 
7,114 
9,391 

7,108 

9,999 
5,917 
11,595 
4,922 
4,279 

3,215 
5,535 
5,004 
4,653 

4,147 

2,823 
5,824 
4,567 
4,822 
6,652 



CM 

1,999 

550 

2,074 

2,340 

4,888 
3,993 
3,870 
2,293 
5,334 

7,221 
9,008 
8,891 
8,757 
7,195 

13,014 
8,998 
13,750 
10,730 
10,808 

17,285 
9,901 
13,896 
11,811 
17,190 

12,351 
11,358 
10,952 
9,651 
13,445 

14,972 
11,074 
12,076 
11,081 
11,903 

11,204 
11,345 
10,450 
14,189 
8,342 

11,915 
14,045 
14,667 
13,376 
12,066 

13,994 
117,238 
91,855 
67,500 
64,467 

56,056 
184,457 
116,168 
147,089 
137,266 

105,898 

44,883 

21,114 

3,994 

4,897 



1,613,519 



24,229 

17,615 
10,562 
10,760 
7,854 

8,990 
12,376 
14,893 
13,268 
10,094 

7,790 
8,607 
7,989 
7,950 
5,424 

5,939 
4,194 
3,875 
5,535 

3,971 

3,291 
4,678 
1,849 
2,782 
981 



223,425 
34,962 
103,586 
335,019 
397,523 

453,589 
622,231 
649,830 
692,313 
847,396 

928,483 
1,039,441 
1,012,112 
1,079,406 
1,140,082 

1,277,666 
1,537,942 
1,522,822 

1,560,316 
1, 771, 063 

1,851,955 
1,858,420 
1,975,336 
2,332,189 
2,379,145 

2,495,804 
2,645,221 
2,644,010 
2,729,467 
3,017,864 

3,124,431 
3,066,574 
3,269,775 
3,251,147 
3,299,225 

3,231,940 
3,260,970 
3,391,306 
3,369,348 
3,410,875 

3,298,650 
3,267,188 
3,257,681 
3,195,488 
3,149,314 

3,079,803 
25,796,358 
18,646,580 
11,846,456 

7,557,219 

4,954,837 
11,679,763 
5,562,631 
6,084,529 
5,758,342 

4,340,688 

1,853,390 

893,049 

278,810 

289,224 



'198,508,359 



^774, 116 
1,307,319 
401,198 
228,426 
265,337 

347,063 
397,301 
463,611 
594,771 
428,222 

365,783 
424,672 
496,487 
531,223 
608,285 

643,435 
455,387 
440,744 
512,075 
506,259 

557,006 
596,560 
530,304 
358,157 
414,125 



24,238 
131,913 
196,148 
494,494 
522,425 

546,678 
654,125 
640,509 
648,644 
852,878 

924,524 
976,134 
912,653 
915,253 
960,081 

1,006,471 
1,338,217 
1,352,721 
1,235,171 
1,412,232 

1,395,744 
1,365,081 
1,509,207 
1,924,961 
1,847,936 

1,921,158 
1,924,796 
1,917,085 
1,980,612 
2,221,501 

2,409,537 
2,305,226 
2,409,792 
2,408,552 
2,389,101 

2,353,859 
2,340,555 
2,501,849 
2,411,153 
2,397,373 

2,266,276 
2,193,220 
2,234,908 
2,198,288 
2,142,698 

2,005,835 
15,370,696 
9,489,579 
5,154,412 
2,912,628 

1,659,934 

3,226,951 

1,089,087 

858,252 

525,120 

216,259 

44,254 

9,586 

1,166 

363 



111,283,199 



1,057,321 

5,128,104 

1,027,573 

778,471 

822,851 

951,138 

993,589 

1,081,380 

1,320,642 

971,957 

892,509 

981,514 

1,074,407 

1,070,347 

1,187,540 

1,221,206 
974,044 
899,556 

1,005,471 
965,192 

1,031,407 

1,057,324 

1,106,178 

694,061 

752,797 



14,542 
79,147 
117,689 
396,697 
313,454 

328,006 
392,476 
384,304 
389,186 
511,728 

554,716 
585,679 
547,591 
549,750 
576,049 

503,882 
802,932 
811,631 
741,702 
847,342 

837,445 

819,049 

905,523 

1,154,978 

1,108,761 

1,152,695 
1,154,878 
1,150,252 
1,188,368 
1,332,900 

1,445,721 
1,383,135 
1,445,875 
1,445,131 
1,433,461 

1,412,315 
1,404,333 
1,501,111 
1,446,692 
1,438,425 

1,359,765 
1,315,934 
1,340,945 
1,318,972 
1,285,619 

1,204,101 
9,222,416 
5,693,807 
3,092,648 
1,747,577 

995,951 
1,936,171 
653,452 
514,951 
315,073 

129,755 

26,553 

5,750 

700 

218 



66,769,921 



634,395 
3,076,863 
616,545 
467,083 
493,709 

570,683 
596,154 
648,828 
792,385 
583,180 

535,567 
588,908 
544,643 
642,208 
712,584 

732,724 
584,427 
539,734 
603,284 
579,115 

518,843 
634,395 
663,707 
416,437 
451,678 



450 
6,795 
15,393 

24,326 
41,380 
48,397 
56,328 
59,189 

55,745 
81,135 
81,588 
94,136 
100,521 

120,371 
126,395 
140,079 
143,745 
161,226 

177,067 
182,211 
186,647 
202,482 
219,151 

232,018 
260,906 
261 ,989 
270,549 
295,173 

290,568 
290,612 

318,068 
312,228 
327,138 

314,338 
324,043 
324,817 
335,035 
341,930 

337,015 
XI, 421 
335,131 
326,689 
325,223 

331,540 
2,951,453 
2,365,323 
1,641,408 
1,115,547 

775,617 
2,024,375 
1,158,592 
1,520,467 
1,830,556 

1,811,292 
934,899 
495,864 
164,964 
130,196 



27,802,831 



(9) 



435 
914 
649 
645 
804 

1,134 
1,078 
1,417 
1,763 
2,240 

2,222 
1,865 
2,284 
2,330 
2,720 

3,006 
3,189 
3,113 
2,819 
3,84S 

2,825 
3,438 
3,813 
3,629 
3,374 

4,279 
3,765 
3,537 
4,325 
3,952 

3,924 
4,262 

3,714 
3,345 
3,123 

3,609 
2,979 
3,178 
2,863 
2,924 

3,343 
2,201 
2,822 
2,799 
2,484 

2,954 
19,835 
15,495 
10,488 

7,267 

5,932 

15,168 

6,609 

5,054 

3,242 

1,429 

346 

44 

4 

2 



See footnotes at end of table. See text for individual returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations- of Data." 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



41 



T.hlB 10 —SELECTED SOURCES OF INCOME ADJUSTED GROSS INCOME, EXEMPTIONS, AND TAX LIABILITY BY DETAILED ADJUSTED GROSS INCOME CLASSES FOR ALL RETURNS AND 

JOINT RETURNS, AND IN TOTAL FOR OTHER MARITAL STATUSES— ConlLnued 





Adjusted gross income classes 


Number 

of 
returns 


Salaries 
and wages 

( Ihouiand 
dolIers\ 


Dividends 

(Thotjsand 
dollars) 


Interest 
received 

(Thousand 
doIJars) 


Adjusted 


Aggregate exemptions 


Income tax 
liability 

Cafter 
credits) 

( Thousand 
dollars) 


Self- 
employment 
tax 

(Thousand 
dollars) 






gross 
income 

( Thousand 
dollars) 


Number 

of 

exemptions 


Anount of 

exemption 

(Thousand 

dollars) 








(1) 


(21 


(3) 


(4) 


C5) 


C6) 


C7) 


C8) 


C9) 












All returns— Continued | 




87 
68 
89 
90 
91 

92 
93 
9-i 
95 
96 

97 
98 
99 

100 
101 
102 
103 


tontaxable returns — Continued 


162,960 
132,978 
151,430 
144,702 
122,428 

79,613 
83,746 
32,337 
74,664 
71,498 
88,319 
39,183 
33,681 
37,849 
34,665 
32,790 
152,244 


417,393 
356,905 
421,942 
410,632 
370,215 

250,734 
271,559 
268,588 
252,961 
248,559 

326,644 

146,570 
125,920 
153,351 
140,955 
136,737 
703,274 


1,866 
2,286 

2,384 

797 

3,501 

529 

(1) 

1,174 
(') 
(>) 
1,712 
716 
435 
(M 
(») 
(') 
18,732 


547 

611 

1,746 

1,642 

1,315 

2,129 
CM 

CM 

959 
1,356 

692 

CM 

1,436 

CM 
CM 
CM 

12,530 


480,893 
405,465 
477,145 
470,247 
409,066 

274,483 
296,868 
' 300,408 
279,838 
275,103 
349,034 
158,598 
139,793 
160,654 
150,789 
146,087 
307,444 


855,441 
714,648 
835,823 
779,288 
706,614 

472,353 
510,843 
511,626 
479,226 
446,234 

557,070 
270,472 
232,432 
259,261 
240,717 
230,756 
1,138,551 


513,265 
428,790 
501,493 
467,573 
423,968 

283,413 
306,506 
306,975 
287,536 
267,740 

334,242 

162,233 
139,459 
155,556 
144,431 
138,453 
683,131 


- 


- 


87 




88 




39 




90 




91 




92 




93 




94 




95 




96 




97 




98 




99 




100 




101 




102 


$4,500 or more 


103 


lOi 


Total nontaxable returns 


'12,652,544 


14,485,926 


228,776 


233,380 


316,731,549. 


38,288,144 


22,972,838 


- 


- 


104 


105 


Grand total. 


'56,528,317 


174,339,032 


5,859,624 


1,846,899 


'215,289,908 


149,571,343 


89,742,809 


27,802,831 


217,457 


105 


106 
107 


Taxable returns under $5,000 and nontaxable 
returns . 


'44,115,408 
12,413,409 


97,634,737 
76,704,295 


832,395 
5,027,229 


683,986 
1,162,913 


'109,728,032 
105,561,876 


109,012,956 
40,558,387 


65,407,777 
24,335,032 


8,832,288 
18,970,543 


126,492 
90,965 


106 
107 


Taxable returns: 

Ho adjusted gross income 












Joint returns of husbands 


and wives 










1 
2 


7,110 
29,314 
14,656 
17,401 
20,604 

25,177 
24,858 
38,938 
44,453 
113,148 

129,694 
125,935 
125,507 
120,621 
151,104 

152,525 
243,962 
259,297 
223,634 
275,452 
271,871 
281,890 
307,703 
420,606 
397,629 

433,752 
435,902 
428,196 
468,807 
517,299 

565,191 
555,937 
595,500 
595,377 
586,382 
596,134 
578,538 
621,573 
614,702 
621,415 

538,979 
579,871 
575,222 
575,833 
551,337 

533,153 
4,196,612 
2,668,223 
1,495,254 

833,738 

485,867 
891,246 
286,926 
223,371 
135,708 

57,236 

11,949 

2,573 

313 

78 


1,887 
2,769 
1,730 
1,638 
3,076 

1,944 
2,435 
8,292 
10,658 
74,522 

98,276 
124,717 
131,908 
128,125 
160,584 

178,809 
347,733 
402,109 
372,645 
476,598 

527,235 
546,689 
622,536 
940,990 
927,187 

1,031,334 
1,130,208 
1,136,269 
1,293,569 
1,526,987 

1,719,622 
1,740,593 
1,927,790 
2,023,463 
2,047,263 

2,113,582 
2,134,451 
2,335,456 
2,392,048 
2,504,136 

2,387,936 
2,452,047 
2,433,065 
2,485,804 
2,474,305 

2,395,788 

21,042,172 

15,447,507 

9,335,606 

5,968,291 

3,627,547 

6,778,402 

2,413,591 

2,286,341 

1,970,418 

1,332,966 

431,702 

130,451 

15,610 

2,698 


(M 
(M 
(') 

(M 
(1) 

(') 
CM 
(') 
CM 

1,014 

(M 

1,497 
(M 

CM 

1,600 

1,848 
2,787 
1,908 
1,226 
4,922 

4,195 
3,987 
2,382 
5,263 
3,646 

6,712 
8,989 
6,429 
3,536 
3,277 

5,540 
4,347 
7,829 
6,835 
3,486 

5,394 
5,516 
7,095 
5,819 
9,961 

9,663 
6,914 
8,483 
9,280 
13,849 

10,281 
114,714 
95,399 
37,809 
33,472 
93,374 
389,350 
279,670 
420,555 
546,405 

617,726 
388,752 
235,028 
69,010 
44,555 


(M 

1,935 
CM 

CM 
CM 

CM 
CM 
CM 
CM 

1,012 

2,041 
1,111 
918 
2,117 
1,979 

3,739 
2,876 
6,169 
3,277 
4,773 
3,844 
3,791 
4,576 
4,887 
6,083 

4,457 
5,336 
5,059 
6,721 
3,390 

7,546 
6,075 
5,928 
6,599 

6,718 

4,566 
4,945 
8,103 
10,775 
5,979 

6,618 
8,066 
8,816 
8,282 
7,902 

10,718 
81,349 
63,007 
52,212 
45,698 

39,037 
137,556 

84,648 
113,981 
110,751 

85,481 

34,907 

16,986 

3,204 

943 


'21,540 
13,680 
9,372 
12,981 

17,480 

24,036 
26,067 
44,837 
55,393 
152,509 

187,961 
194,756 
207,307 
211,331 
279,299 

297,420 
499,802 
557,405 
503,517 
647,713 

665,883 

718,952 

816,329 

1,156,395 

1,133,241 

1,280,094 
1,328,932 
1,343,717 
1,522,722 
1,734,273 

1,951,294 
1,973,028 
2,172,862 
2,235,263 
2,257,811 

2,355,287 
2,343,516 
2,579,740 
2,612,063 
2,703,155 

2,621,355 
2,638,637 
2,674,857 
2,734,895 
2,673,694 

2,639,462 
22,951,720 
17,222,600 
11,146,835 

7,047,875 

4,598,441 

10,579,145 

4,924,221 

5,385,404 

5,108,321 

3,794,624 

1,573,515 

714,001 

207,316 

126,838 


20,988 
78,776 
47,670 
55,401 
64,159 

71,435 
73,134 
103,531 
128,305 
262,490 

304,255 
310,893 
295,381 
302,555 
376,304 

385,197 
643,154 
674,323 
604,360 
756,269 

730,837 

761,490 

891,829 

1,303,213 

1,198,828 

1,313,073 
1,317,342 
1,312,009 
1,442,225 
1,644,758 

1,885,566 
1,844,362 
1,952,076 
1,986,142 
1,968,810 

2,003,787 
1,994,174 
2,179,702 
2,132,313 
2,140,693 

2,036,511 
1,993,966 
2,031,508 
2,049,917 
1,983,275 

1,869,093 
14,540,338 
9,143,975 
5,007,055 
2,812,807 

1,603,419 

3,073,618 

1,025,383 

807,152 

494,152 

201,451 

40,318 

8,454 

930 

251 


12,592 
47,265 
28,602 
33,241 
33,495 

42,861 
43,911 
62,113 
76,982 
157,495 

182,554 
186,536 
177,228 
181,532 
225,782 

231,118 
385,393 
404,597 
362,616 
453,762 

438,503 
456,894 
535,098 
781,929 
719,297 

787,346 
790,405 
787,206 
365,336 
986,855 

1,131,339 
1,106,617 
1,171,246 
1,191,686 
1,131,286 

1,202,272 
1,196,505 
1,307,822 
1,279,388 
1,284,416 

1,221,906 
1,196,330 
1,218,904 
1,229,950 
1,139,965 

1,121,456 
8,724,202 
5,436,385 
3,004,234 
1,687,684 

962,052 
1,844,173 
615,230 
484,291 
296,491 

120,869 

24,191 

5,073 

588 

151 


710 

2,073 
3,806 
5,668 
6,664 

10,056 

11,674 
16,127 
22,277 
21,236 
29,522 

34,175 
40, 368 
42,914 
54,839 

61,898 

75,149 
83,750 
83,419 
105,332 
118,877 

129,025 
136,340 
161,537 
168,437 
175,582 

137,418 
188,868 
207,146 
222,061 
235,364 

232,579 

242,050 
245,702 
253,402 
252,038 

261,045 
2,488,131 
2,117,189 
1,513,534 
1,015,252 

701,386 
1,774,593 

982,401 
1,286,351 
1,564,028 

1,546,072 
777,891 
387,787 
116,463 
72,739 


352 
443 
207 
301 

336 

529 

556 

926 

1,114 

1,456 

1,561 
1,296 
1,590 
1,764 
2,136 

2,265 
2,470 
2,411 
2,264 
2,934 

2,235 
2,917 
3,373 
3,210 
2,928 

3,959 
■3,006 
3,134 
3,703 
3,344 

3,330 
3,725 
3,414 
3,253 
2,646 

3,133 
2,684 
2,952 
2,550 
2,518 

2,860 
2,031 
2,681 
2,706 
2,290 

2,691 
18,229 
14,297 
9,708 
6,575 

5,306 
14,002 
6,150 
4,700 
3,039 

1,318 
332 

43 
4 
2 


1 
2 




3 






4 


5 
6 




5 




6 




7 


8 




8 




9 






10 






11 


12 




12 




13 






14 






15 






16 






17 






18 




4p ?00 under 42.300 


19 


20 
21 




20 




21 




22 


23 
2i 
25 




23 




24 


i? 800 under 42 900 


25 




$2 900 under $3,000 


26 






27 


28 
29 




28 




29 




30 






31 






32 


33 
3i 




33 


$3 700 under $3,800 


34 






35 






36 




$4 000 under $4 100 


37 


38 




38 




39 


iO 


$4 300 under $4,400 


40 






41 






42 


■13 




43 






44 


45 


$4 800 under $4,900 


45 




$4 900 under $5,000 


45 






47 


i8 


$6 000 under $7,000 


48 






49 


50 


$8 000 under $9,000 


50 


51 


$9 000 under $10,000 


51 






52 


53 


$15 000 under $20,000 


53 






54 


55 


$30 000 under $50,000 


55 


56 


$50 000 under $100,000 


56 


57 
58 


$100,000 under $200,000 

4?00 000 under 4500 . 000 


57 
58 


59 

60 


$500,000 under $1,000,000 

$1,000,000 or more 


59 
60 


61 


Total taxable returns 


26,731,883 


119,064,610 


3,655,239 


1,074,341 


'150,174,644 


38,285,492 


52,971,295 


20,473,450 


187,989 


61 



See footnotes at end of table. See text for individual returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations of Data." 



42 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



Table 10.— SELECTED SOURCES OF INCOME, ADJUSTED GROSS INCOME. EXEMPTIONS, AND TAX LIABILITY BY DETAILED ADJUSTED GROSS INCOME CLASSES FOR ALL RETURNS AND 

JOINT RETURNS, AND IN TOTAL FOR OTHER MARITAL STATUSES— Continued 



Adjusted gross income classes 



Niuriber 

of 
returns 



Salaries 
and wages 



( Thousand 
rioHars) 



( Thousand 
dollars) 



Interest 
received 



(Thousand 
dollars) 



Adjusted 
gross 
income 

(Thousand 
dollars) 



Aggregate exemptions 



Number 

of 

exemptions 



Amount of 
exemption 

f Thousand 
dollars) 



Income tax 
liability 

(after 
credits) 

( Thousand 
dollars) 



Self- 
employment 
tax 

(TTiousand 
dollars) 



98 
99 
100 
101 
102 
103 



105 
106 



Nontaxable returns: 

No adjusted gross income. 

Under $600 

$600 under $70C 

$700 under $800 

$800 under $900 

$900 under $1,000. 
$1,0C.^ under $1 
$1,100 under $1 
$1,200 tinder $1 
$1,300 under $1 

$1,400 under $1 
$1,500 under $1 
$1,600 under $1 
$1,700 under $1 
$1,800 under $1 

$1,900 under $2 
$2,000 under $2 
$2,100 under $2 
$2,200 under $2 
$2,300 under $2 

$2,400 under $2 
$2,500 under $2 
$2,600 under $2 
$2,700 under $2 
$2,800 under $2 

$2,900 under $3 

$3,000 under $3 

$3,100 under $3 

$3,200 under $3 

$3,300 under $3 

$3,400 under $3 
$3,500 under $3 
$3,600 under $3 
$3,700 under $3 
$3,300 under $3 

$3,900 under $4 

$4,000 under $4 

$4,100 under $4 

$4,200 under $4 

$4,300 under $4 

$4,400 under $4 
$4,500 or more. 



100. 
200. 
300.. 
400. 

500. 

600.. 
700., 
800., 
900., 

000., 
100., 
200.. 
300.. 
400., 

500., 
600., 
700., 
800., 
900.. 

000,. 

100.. 
200.. 
300., 
400., 

500., 
600., 
700., 
800., 
900., 

000., 
100,. 
200., 
300., 
400.. 
500., 



Total nontaxable returns. 
Grand total 



ti) 



(2) 



C3) 



U) 



(5) 



(61 



(8) 



(9) 



Taxable returns under $5,000 and nontaxable 
returns . 
Taxable returns $5,000 or more 



Joint returns of husbands and wives.... 
Separate returns of husbands and wives. 

Returns of heads of household 

Returns of single persons 



Joint returns of husbands and wives — Continued 



265,032 
i33,405 
121,243 
140,856 
153,989 

188,329 
199,626 
215,558 
2^8,102 
210,544 

181,869 
205,506 
226,466 
228,683 

254,673 

264,242 
191,067 
133,579 
204,530 
194,436 

202,825 
210,862 
218,511 
122,568 
137,629 

152,054 
126,148 
143,758 
136,532 
119,699 

77,789 
82,381 
81,883 
73,757 
69,227 

86,490 
39,183 
33,680 
37,849 
33,751 
32,789 
147,351 



11,289,094 



117,010 
121,622 
47,830 
62,932 

;7,500 

116,235 
139,563 
'165,820 
229,426 
191,896 

184,460 
213,321 
271,277 
304,953 
357,517 

384,728 
303,509 
318,733 
351,307 
353,673 

395,551 
440,793 
489,036 
280,332 
332,114 

387,979 
337,575 
398,238 
384,306 
364,145 

247,577 
266,739 
266,946 
249,562 
243,350 

321,210 
146,570 
125,890 
153,351 
136,964 
136,721 
692,445 



11,120,706 



130,185,316 



21,023 
6,647 
1,353 
2,097 
1,606 

2,965 
2,953 
2,558 
3,285 
3,141 

3,056 
3,171 
8,933 
2,431 
2,455 

2,770 
3,836 
3,139 

4,371 
3,876 

2,598 
5,625 
4,567 
4,822 
6,652 

1,366 
2,286 
2,274 
760 
2,223 



325,807 
3,466,819 



19,698 
5,123 
2,723 
4,201 
1,777 

2,568 
4,586 
6,047 
6,514 
6,412 

3,999 
6,108 
5,772 
6,351 
5,070 

6,514 
3,483 
3,143 
4,160 
3,828 

3,139 
3,084 
1,849 
2,782 
981 

(') 

611 
1,215 
1,642 
1,262 

1,843 
(') 
CM 

959 

CM 

CM 
CM 

1,436 

CM 
CM 
(M 

6,441 



136, 96R 



1,211,3W 



336,549 
874,760 



^601,604 
152,637 
78,812 
105,563 
130,819 

179,381 
209,630 
248,135 
347,475 
283,314 

264,091 
317, 68T 
374,219 
399,962 
470,490 

515,157 
391,165 
394,737 
459,641 
457,057 

495,844 
537,493 
577,399 
336,768 
392,168 

448,774 
384,651 
452,799 
443,749 
399,962 

268,171 
292,048 
298,752 
276,439 
266,403 

341,793 
158,598 
139,789 
160,554 
146,797 
146, "83 
766,521 



^12,911,016 



^ln3,0e?,,-.60 



^67, 704, 804 
95,380,856 



858,263 
1,316,617 
337,022 
4i2,573 
485,132 

575,035 
598,876 
660,823 
879,217 
704,013 

696,391 
777,158 
355,572 
344,777 
956,060 

1,007,598 
858,546 
816,434 
915,376 
884,116 

932,812 
958,229 
1,013,529 
658,100 
713,393 

805,953 
679,629 
797,241 
735,723 
693,885 

465,548 
502,207 
508,910 
473,784 
438,055 

547,017 
270,472 
232,431 
259,261 
235,230 
230,750 
1,113,760 



.^8,790,618 



U'',0''.i,110 



78,316,757 
38,759,353 



514,958 
789,970 
232,213 
265,604 

291,079 

345,021 
359,326 
396,494 
527,531 
422, 4"8 

417,835 
456,295 
513,342 
506,866 
573,636 

604,558 
515,128 
489,860 
549,225 

530,470 

559,686 
574,938 
608,117 
394,861 
428,035 

483,572 

407,778 
478,344 
441,433 
416,330 

279,329 
301,325 
305,345 
284,271 
262,333 

328,210 
162,283 
139,458 
155,556 
141,139 
138,450 
6'^1,256 



17,274,371 



70,245,666 



46,990,052 



4,134,628 



23,255,614 16,343,822 



104,284 



Totals by marital status 



33,440,334 

2,311,766 

689,465 

20,087,252 



All returns. 



'56,528,817 



130,185,316 

5,628,731 

2,421,721 

36,103,264 



174,339,032 



3,792,626 
197,945 
185,812 

1,683,241 



5,359,624 



,211,309 
36,376 
42,974 
556,240 



1,846,899 



'163,085,560 

'6, 408, 139 

'3,208,391 

'42,587,718 



'215,289,908 



117,076,110 

3,567,929 

1,574,523 

27,252,681 



149,571,343 



70,245,666 

2,200,758 

944,774 

16,351,611 



39,742,809 



20,478,450 

944,537 

512,333 

5,867,411 



27,802,831 



187,989 

3,382 

2,416 

23,170 



217,457 



52 
63 
64 
55 
66 

67 
63 
69 
70 
71 

72 
73 
74 



78 
79 
80 
81 

82 
83 
84 
85 



89 
90 
91 

92 
93 
94 
95 
96 

97 
98 
99 
100 
101 
102 
103 

104 

105 

106 



See text for individual returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations of Data." 

^Number of returns is subject to sampling variation of more than 100 percent; therefore, data are not shown separately. However, they are included in totals. 

^Adjusted gross deficit. 

'Adjusted gross income less adjusted gross deficit, 

'includes 50,991 returns with no information reported. 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



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44 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



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389 
1,960 


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2,654 

6,786 

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INDIVIDUAL INCOME TAX RETURNS FOR 1952 



45 



Table 12-— SELECTED SOURCES OF INCOME AND TAX LUBILITY, BY STATES AND TEHRITOHIES 



(Returns with adjusted gross income) 



States and Territories 



Number of 

returns, 

taxable and 

nontaxable 



Salaries and 
wages 



(Thouaand 
dollars ) 



( Thousand 
dollars) 



Interest 
received 



( Thousand 
dollar a) 



Adjusted 
gross income 



( Thousand 
dollars) 



Income tax 

liability 

(after 
credits) 

(Thousand 
dollars) 



Self -employ- 
ment tax 



(Thousand 
dollars) 



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 



hfcintana 

Nebraska 

Nevada 

New Hampshire. 
New Jersey... . 



New Mexico 

Hew 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 



(1) 



(2) 



(3) 



M 



(5) 



(6) 



710, 102 
263,008 
384,817 
4,598,269 
509,876 

903,371 
139,153 
397,855 
979,277 
884,181 

198,799 

204,223 

3,702,881 

1,560,771 

956,125 

735,424 
800,819 
706,734 
341,265 
1,240,098 

2,010,392 
2,550,756 
1,114,900 
331,583 
1,432,531 

219,313 
502,089 
82,165 
216,777 
2,117,199 

204,076 
6,435,701 
1,067,239 

211,000 
3,254,058 

652,377 
586,167 
4,217,689 
331,571 
514,812 

221,491 
873,469 
2,454,639 
249,544 
132,687 

1,082,020 
979,781 
610,803 

1,335,781 
106,711 



1,936,112 

795,603 

812,903 

15,734,168 

1,441,830 

3,181,982 
495,366 
1,432,941 
2,597,432 
2,498,772 

559,935 

458,614 

12,994,214 

4,7^,455 

2,045,530 

1,819,947 
2,121,834 
2,010,075 
845,431 
4,050,527 

6,293,157 
9,188,119 
2,948,245 
811,251 
4,106,227 

535,242 

1,036,708 

288,037 

550,518 

7,530,778 

599,521 

21,917,436 

2,745,323 

333,216 
11,128,165 

1,701,395 

1,745,036 

13,321,116 

995,137 

1,442,370 

359,894 

2,340,706 

7,126,957 

740,677 

298, 185 

3,109,530 
3,163,460 
1,796,013 
3,915,262 

304,111 



35,263 
17,156 
12,827 
571,459 
52,609 

211,728 
48,972 
48,345 

129,935 
80,001 

12,529 

6,162 

383,345 

94,887 

42,716 

39,183 
49,320 
55,774 
34,325 

112,430 

293,964 
217,861 
84,275 
13,148 
157,362 

11,679 
25,757 
12,532 

26,218 
244,765 

8,783 

1,107,100 

78,451 

3,653 

330,021 

42,657 
37,277 
457,235 
39,852 
32,770 

7,865 
52,339 
163,528 
13,792 
14,586 

89,352 
68,039 
42,415 
116,581 
4,561 



9,792 
8,831 
7,385 
223,002 
24,829 

40,889 
4,784 
13,694 
48,468 
20,011 

2,684 

7,299 

99,750 

41,529 

26,600 

19,182 
15,024 
17,926 
14,867 
40,914 

84,581 
65,891 
36,155 
4,784 
38,329 

9,476 
13,836 
3,668 
7,824 
84,684 

8,469 

295,607 

18,072 

4,879 

85,166 

14,150 

25,328 

93,992 

9,207 

6,659 

5,499 

18,786 

66,567 

6,320 

5,005 

22,284 
43,034 

6,936 
45,693 

4,351 



2,287,810 
1,023,023 
1,064,449 
20,100,403 
1,924,615 

3,901,967 
652,433 
1,666,677 
3,447,667 
3,040,741 

662,698 

685,693 

15,797,279 

5,365,932 

3,093,004 

2,556,368 
2,625,929 
2,515,010 
1,036,442 
4,716,487 

7,494,638 
10,847,852 
3,911,846 
1,012,679 
5,181,397 

784,291 

1,636,387 

365,399 

663,649 

8,855,507 

792,097 

26,946,431 

3,358,545 

591,704 
13,298,984 

2,259,852 
2,316,087 
15,877,555 
1,183,436 
1,714,230 

600,477 

2,828,368 

9,297,753 

909,692 

387,605 

3,721,293 
3,963,940 
2,065,157 
4,985,584 
412,350 



231,192 
128,813 
100,262 
2,761,782 
250, 542 

593,247 
124,124 
249, lU 
408,481 
340,067 

80,633 
77,978 
2,215,931 
710,958 
331,511 

306,250 
285,662 
310,305 
110,076 
596,218 

980,446 
1,470,551 
457,051 
97,146 
681,645 

90,524 

133,130 

52,654 

72,411 

1,166,757 

94,464 

3,656,252 

327,289 

53,426 
1,794,080 

267,793 
302,123 
2,055,379 
152,007 
177,746 

56,670 

300,640 

1,222,734 

92,647 

37,008 

427,054 
530,356 
219,542 
605,472 
51,524 



Total . 



56,316,869 



174,974,465 



5,337,384 



1,827,792 



216,939,912 



27,889,716 



(7) 



2,408 

997 

1,849 

20,856 

2,019 

3,283 

597 

821 

4,310 

3,334 

660 

936 

12,662 

5,686 

4,444 

2,630 
2,795 
2,652 
1,470 
3,191 

6,353 
9,093 
4,918 
1,483 
5,306 

1,035 

2,095 

252 

817 

3,312 

399 
26,840 
3,197 

855 
11,575 

3,225 
3,095 
15,797 
1,144 
1,516 

999 

3,154 

10,667 

952 

556 

3,131 

4,238 

1,860 

• 5,726 

559 



217,304 



See text for individual returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations of Date." 

'Not comparable with data for prior-year tabulations for two reasons. First, Puerto Rican 1952 returns filed in Baltimore during the first-half of 1953 are included in Maryland 
data; but Puerto Rican returns filed in New York City during the last-half of 1953 are included in New York data. For prior-year tabulations, Puerto Rican returns were Included 
exclusively in Maryland data. Secondly, for prior-year tabulations, overseas servicemen's returns were filed exclusively in Baltimore and were included in Maryland data. For the 
1952 tabulations, these returns were filed in directors' offices of the various States and are included in the data for the respective States. 

^Not comparable with data for prior-year tabulations. Includes for the first time Puerto Rican 1952 returns filed in New York City during the last-half of 1953. 

^Includes Alaska. 



46 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



Table 13.— ADJUSTED GKOSS INCOME AND INCOME TAX LIABILITY, BY STATES AND TERRITORIES AND BY ADJUSTED GROSS INCOME CLASSES 

'Returns with adjusted gross income) 



Adjusted gross income classes 


Number of 
returns 


Adjusted 
gross 
income 

(Thousand 
dollars) 


Income tax 
liability 

(after 
credits) 
(Thousand 
dollars) 


Number of 
returns 


Adjusted 
gross 
income 

( Thousand 
dollars) 


Income tax 
liability 

(after 
credits) 

(Thousand 
dollars) 


Number of 
returns 


Adjusted 
gross 
income 

( Thousand 
dollars) 


Income tax 
liability 

( after 
credits) 
(Thousand 
dollars) 


Number of 
returns 


Adjusted 
gross 
income 

(Thousand 
dollars) 


Income tax 
liability 

(after 
credits) 
( Thousand 
dollars) 




Alabama 


Arizona 


Arkansas 


California 


Taxable and nontaxable returns: 


107,073 
158,660 
145,290 
126,321 
67,997 

90,062 
7,257 
2,821 
2,715 
1,316 

479 
90 

21 


57,197 
237,195 
364,728 
441,604 
303,006 

583,245 
86,595 
49,031 
68,065 
48,422 

31,093 

11,940 

5,689 


485 
8,499 
16,335 
29,546 
25,141 

69,035 
15,054 
10,255 
17,308 
15,330 

13,151 
5,275 
3,648 


32,828 
44,939 
46,168 
40,199 
40,343 

49,684 

4,497 

1,531 

1,569 

849 

319 
69 
12 

1 


17,027 
68,117 
116,995 
133,460 
130,560 

322,673 
53,158 
26,338 
37,976 
32,217 

20,947 
8,874 
3,303 

1,377 


149 
2,818 
7,805 
11,703 
15,653 

40,397 
9,159 
5,462 
9,401 

10,331 

8,928 
4,385 
1,883 

737 


79,587 
94,856 
82,804 
57,729 
38,153 

24,432 

3,797 

1,334 

1,110 

628 

239 

43 

4 

1 


44,105 
141,983 
201,673 
201,078 
170,219 

163,797 
45,439 
22,547 
27,209 
23,594 

15,385 

5,462 

944 

512 


285 

5,225 

8,284 

13,780 

14,234 

22,109 
7,560 
4,507 
6,538 
7,455 

5,553 

2,631 

559 

277 


496,295 
635,474 

554,706 
736,346 
739,010 

1,142,993 

109,569 

33,155 

25,377 

14,900 

6,609 

1,479 

328 

18 

9 


269,307 

952,064 

1,545,731 

2,581,617 

3,329,292 

7,505,281 

1,299,205 

568,032 

535,998 

559,844 

438,606 
195,335 
92,203 
11,973 
14,860 




$1,000 under $2,000 

$2 000 under $3,000 


53,163 
127,624 






Si 000 under $5 000^ 


333,134 




969,933 








120,368 


$20 000 under $30 000 


152,687 


$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200 000 under $500 000 


180,342 

181,260 
94,750 
48,096 


$500,000 under $1,000,000 


6,133 
8,593 






Total 


710, 102 


2,287,810 


231,192 


263,008 


1,023,023 


128,813 


384,817 


1,064,449 


100,262 


4,598,269 


20,100,403 


2,751,782 




Colorado 


Connecticut 


Delaware 


District of Columbia 


Taxable and nontaxable returns: 

Under $1,000 

Al 000 under $2 000 


73,485 
84,208 
94,624 
85,393 
62,041 

93,132 
9,019 
2,950 
2,160 
2,045 

674 

127 

14 

4 


37,819 
123,988 
239,687 
299,008 
277,712 

591,603 
107,869 
50,699 
52,781 
76,117 

44,404 

16,314 

3,982 

2,632 


512 

6,847 

17,688 

25,976 

27,932 

75,085 
18,565 
10,337 
12,885 
24,123 

18,315 
8,279 
2,289 

1,709 


100,594 
115,480 
158,582 
162,148 
120,930 

212,843 

16,001 
5,714 
4,472 
4,214 

1,828 

412 

140 

8 

5 


53,487 
167,952 
400,522 
568,326 
541,520 

1,384,633 

190,713 

98,421 

107,808 

160,019 

122,381 

55,083 

37,346 

4,887 

8,859 


854 
11,765 
37,464 
56,540 
53,775 

185,216 
33,546 
21,012 
27,129 
52,524 

52,793 

29,747 

21,800 

3,053 

6,029 


18,750 
21,448 
19,243 
22,209 
19,697 

30,816 

3,586 

1,388 

1,030 

512 

301 

92 

47 

25 

8 


12,385 
31,184 
47,522 
77,725 
37,233 

206,235 
41,931 
23,952 
25,095 
19,579 

19,741 
12,672 
13,388 
17,635 
15,595 


208 
1,899 
3,646 
7,463 
7,937 

27,319 
7,326 
5,309 
6,435 
6,514 

8,945 
5,875 
9,503 
12,980 
11,765 


38,355 
65,565 
70,791 
36,413 
39,836 

77,874 

11,577 

3,170 

2,400 

1,123 

558 

110 

32 

1 


22,495 
101,337 
179,963 
299,569 
178,251 

530,801 

137,365 

54,206 

57,415 

42,125 

38,199 
14,668 
8,413 

1,319 


350 
6,349 


$2,000 under $3,000 


14,511 
36,045 


$4,000 under $5,000^ 


22,211 
75,068 


$10,000 under $15,000 

$15,000 under $20,000 


24,994 

11,887 
14,153 


$30 000 under $50 000 


13,668 


*5Q 000 under ilOO 000 


15,883 


$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1 000 000 or more 


7,532 
4,430 

1,027 








509,876 


1,924,615 


250,542 


903,371 


3,901,967 


593,247 


139,153 


652,433 


124,124 


397,355 


1,666,677 


249,113 








Florida 


Georgia 


Hawaii 


Idaho 


Taxable and nontaxable returns; 
Under $1 000 


138,955 
211,783 
189,423 
164,149 
104,932 

138,462 

16,521 

5,803 

5,471 

2,439 

1,066 

200 

53 

9 

6 


79,161 
313,847 
468,247 
574,087 
470,184 

889,598 
197,568 

99,780 
131,945 

92,174 

70,471 
26,409 
14,867 
6,135 
13,194 


1,080 
11,804 
25,337 
39,166 
43,155 

107,843 
34,094 
21,003 
32,951 
29,596 

29,768 
12,985 

7,787 
3,872 
8,030 


125,926 
191,052 
188,020 
128,736 
86,800 

139,500 

12,996 

4,369 

3,539 

2,200 

809 

158 

22 

4 


72,443 
284,629 
466,597 
447,326 
388,626 

902,208 

152,102 

75,068 

34,375 

82,725 

53,705 

21,317 

6,093 

2,527 


712 
10,055 
25,343 
32,563 
33,352 

113,105 
25,951 
14,941 
20,320 
25,515 

22,211 

11,152 

3,274 

1,551 


29,759 
35,516 
49,241 
29,451 
21,986 

26,246 

3,443 

1,128 

530 

348 

121 

24 

5 

1 


14,469 

54,186 

125,257 

102,455 

99,654 

168,207 
40,914 
19,527 
12,547 
12,921 

7,550 

2,895 

1,347 

538 


232 
4,101 
11,018 
8,855 
9,487 

21,855 

7,169 
4,159 
3,337 
4,214 

3,304 

1,571 

918 

453 


29,955 

41,434 
40,755 
41,073 
13,934 

26,892 

2,754 
943 
671 
622 

151 
27 
2 


15,854 

59,103 

102,621 

144,893 

83,327 

175,393 
33,514 
16,140 
15,717 
23,659 

9,732 

4,775 

415 


250 




3,180 


$2,000 under $3,000 

$3,000 under $4,000 

$4 000 under $5 000^ 


6,346 
10,913 
7,121 


$5 000 under $10 000 


22,379 


$10,000 under $15,000 

$15 000 under ^20 000 


5,935 
3,288 


$20 000 under $30 000 


3,844 


$30,000 under $50,000 

$50,000 under $100,000 

$100 000 under $200 000 


7,450 

4,193 
2,295 


$200 000 under $500,000 


278 


$500,000 under $1,000,000 

$1 000 000 or more 








Total 


979,277 


3,447,667 


408,481 


884,181 


3,040,741 


340,067 


193,799 


662,698 


80,683 


204,223 


585,593 


77,978 




Illinois 


Indiajia 


Iowa 


Kansas 


Taxable and nontaxable returns: 


422,226 
484,508 
582,891 
622,835 
560,376 

886,004 
81,674 
25,032 
19,171 
11,700 

5,055 

1,107 

255 

34 

13 


222,753 

723,280 

1,467,543 

2,171,532 

2,517,059 

5,795,097 
970,766 
429,764 
462,872 
443,001 

335,378 
U4,695 
70,271 
22,135 
21,133 


2,734 
43,621 
124,407 
220,906 
261,141 

757,860 
169,624 
89,903 
115,754 
144,201 

143,512 
75,395 
39,559 
13,671 
13,543 


201,242 
242,471 
250,735 
278,953 
233,290 

312,085 

25,155 

7,894 

5,092 

2,571 

1,032 

195 

37 

1 

3 


108,148 
359,012 
630,508 
973,598 
1,043,398 

1,991,577 

295,007 

135,539 

124,733 

95,934 

68,223 
25,374 

9,473 
812 

3,491 


1,176 

13,852 

45,953 

85,811 

103,187 

259,474 
51,710 
27,753 
32,549 
31,657 

29,954 
13,832 

5,516 
449 

2,085 


152,625 
196,445 
185,153 
162,417 
108,315 

131,383 
10,974 
3,750 
2,655 
1,345 

454 
69 
15 


86,540 
295,627 
462,005 
561,973 
487,015 

853,699 

130,453 

64,501 

64,113 

49,892 

29,632 
3,753 
3,736 


884 
14,551 
29,917 
44,565 
44,482 

109,292 
22,769 
13,555 
15,791 
16,059 

12,829 
4,534 
2,181 


125,201 
140,994 
120,598 
123,317 
88,349 

117,261 

10,586 

3,389 

3,291 

1,550 

574 

75 

23 

5 


68,615 

209,784 
305,536 
430,017 
397,018 

765,251 

127,190 

58,090 

78,965 

57,816 

37,073 

10,177 

6,835 

4,001 


717 


$1,000 under $2,000 

$2,000 under $3,000 


9,402 
22,515 
33,968 


$4,000 under $5,000^ 

*5 000 under $10 000 


39,812 
93,853 


$10 000 under $15 000 


22,774 


$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50 000 under $100 000 


12,509 
19,542 
18,921 

15,795 




5,167 


$200 000 under $500 000 


3,670 


$500,000 under $1,000,000 

$1,000,000 or more 


2,600 






Total 


3,702,881 


15,797,279 


2,215,931 


1,560,771 


5,865,932 


710,953 


955,125 


3,093,004 


331,511 


735,424 


2,555,358 


306,250 



See footnotes at end of teble. See text for individual returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations of Data.' 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



47 



Table 13.— ADJUSTED GROSS INCOME AND INCOME TAX LIABILITY, BY STATES AND TERRITORIES AND BY ADJUSTED GROSS INCOME CLASSES— Continued 

'Returns vri th adjusted gross income'' 



Adjusted gross income classes 


Number of 
returns 


Adjusted 
gross 
income 

dollars) 


Income tax 
liability 

(after 
credits) 

(Thousand 
dollars) 


Number of 
returns 


Adjusted 
gross 
income 

(Thousand 
dollars ) 


Income tax 
liability 

(after 
credits) 

( Thousand 
dollars) 


Number of 
returns 


Adjusted 
gross 
income 

(Thousand 
dollars) 


Income tax 
liability 

(after 
credits) 

( Thousand 
dollars) 


Number of 
returns 


Adjusted 
gross 
Income 

(7housat)d 
dollars) 


Income tax 
liability 

(after 
credits) 

(Thousar)d 
dollars) 




Kentucky 


Louisiana 


Maine | 


Maryland^ 


Taxable and nontaxable returns: 


116,562 
179,389 
148,057 
138,910 
88,943 

111,027 
9,779 
3,797 
2,323 
1,389 

522 

102 
17 
2 


69,289 
265,515 
369,228 
482,417 
394,783 

701,077 

116,131 

65,599 

55,781 

52,361 

33,381 

14,035 
5,038 
1,194 


631 
11,076 
22,671 
36,230 
35,711 

89,086 
20,357 
13,884 
U,951 
15,709 

13,952 
7,627 
3,059 

708 


88,644 
141,159 
163,917 
115,957 

72,227 

102,055 

10,849 

4,688 

3,199 

1,954 

843 

191 
47 
4 


50,361 
211,725 
410,768 
405,394 
324,631 

555,818 
129,353 
80,724 
77,590 
73,919 

54,507 

24,752 

11,943 

2,515 


440 

8,821 
24,104 
33,095 
32,242 

83,130 
22,850 
17,054 
20,372 
25,017 

23,374 

12,562 

5,883 

1,360 


53,529 
71,783 
75,560 
57,035 
39,061 

38,931 

3,000 

981 

725 

455 

166 

30 
7 
2 


26,920 
107,285 
188,480 
197,420 
174,972 

235,768 
35,784 
17,053 
17,577 
16,893 

10,859 
3,858 
1,990 
1,573 


283 
6,039 

11,854 
15,661 
16,259 

31,046 
6,260 
3,661 
4,706 
5,503 

4,634 

1,921 

1,198 

996 


146,578 
244,554 
202,416 
225,739 
142,570 

234,559 

26,636 

7,160 

5,293 

3,226 

1,058 

216 

39 

3 

1 


33,328 
359,234 
507.502 

783,327 
539,864 

1,547,926 
313,827 
122,914 
127,864 
117,565 

70,642 

23,105 

10,904 

2,185 

1,199 


1,490 


4l 000 under 42 000 


22,109 




33,423 




65,618 




68,509 




199,353 




54,045 




25,406 




32,495 


t30 000 under 450 000 


36,884 




29,733 




14,648 




5,729 


$500,000 mider $1,000,000 


1,023 
753 








800,819 


2,625,929 


285,662 


706,734 


2,515,010 


310,305 


341,265 


1,036,442 


110,076 


1,240,098 


4,716,437 


596,218 








Massachusetts 


Michigan 


Minnesota 


Mississippi 


Taxable and nontaxable returns: 


250,148 
350,850 
376,146 
349,458 
274,023 

354,115 

27,166 

10,416 

9,190 

5,805 

2,447 
505 
116 

7 


127,764 

529,913 

935,444 

1,218,798 

1,230,459 

2,243,855 
322,007 
179,568 
222,809 
218,744 

162,515 
66,591 
31,809 
4,352 


2,011 
37,854 
83,091 
114,841 
121,886 

289,199 
54,860 
37,566 
55,289 
68,612 

64,752 

31,606 

16,590 

2,189 


298,541 
345,228 
309,287 
461,474 
409,885 

640,750 
50,878 
13,030 
10,121 
7,536 

3,136 

699 

164 

21 

5 


152,891 

514,044 

778,557 

1,630,795 

1,837,428 

4,214,885 
595,530 
223,245 
240,005 
284,755 

209,696 
91,196 
48,572 
13,977 
12,176 


1,992 
30,885 
53,124 
151,287 
175,706 

555,953 
104,092 
47,869 
59,928 
90,200 

91,817 
49,469 

30,320 
8,572 
8,337 


164,329 
210,469 
209,553 
178,920 
131,822 

192,887 
15,053 
4,905 
3,585 
2,169 

857 

200 

45 

4 

1 


93,219 
314,215 
522,207 
623,836 
593,758 

1,231,311 
178,558 
84,395 
87,577 
81,337 

56,517 
25,808 
12,560 
2,495 
4,053 


1,251 
17,435 
35,899 
55,231 
54,921 

155,680 
29,954 
16,495 
20,329 
24,448 

22,882 

12,781 

6,295 

1,395 

2,054 


59,698 
82,406 
65,719 
51,343 
28,212 

37,489 

3,254 

1,433 

1,147 

616 

222 

35 

7 

2 


35,187 
124,677 
165,958 
177,405 
126,318 

245,621 
39,579 
24,698 
27,893 
23,237 

14,807 
4,385 
1,784 
1,130 


252 


41 000 under 42 000 


3,733 




7,032 


43 000 under 44. 000 


10,832 




10,329 




29,341 


410 000 under 415 000 


6,754 




5,126 


4?0 000 under 430 000 


6,9U 




7,166 




6,027 




2,165 


4?00 003 under 4500 000 


975 


$500,000 under $1,000,000 


499 








2,010,392 


7,494,638 


980,446 


2,550,756 


10,847,852 


1,470,551 


1,114,900 


3,911,846 


457,051 


331,583 


1,012,679 


97,146 








Missouri 


Montana 


Nebraska 


Nevada 


Taxable and nontaxable returns: 


207,139 
280,404 
258,815 
222,595 
181,599 

240,819 

21,001 

7,343 

6,647 

3,845 

1,695 
330 
93 

6 


- 

112,033 
416,600 
642,036 
776,528 
812,512 

1,557,348 
249,318 
125,545 
150,323 
144,289 

112,537 

43,420 

24,315 

4,492 


1,065 
21,133 
48,376 
71,715 
85,710 

207,598 
43,468 
26,141 
41,722 
46,419 

48,050 

22,802 

14,545 

2,900 


29,308 
42,784 
39,577 
37,846 
26,357 

36,730 

3,716 

1,454 

668 

643 

123 

3 
3 
1 


16,032 
62,302 
99,889 
133,695 
119,285 

234,233 
44,534 
24,269 
16,911 
23,900 

7,414 
401 
762 
664 


309 

3,377 

5,588 

11,189 

11,533 

27,875 
8,044 
4,892 
4,328 
8,255 

3,073 
220 
397 
344 


74,625 

107,164 

105,471 

84,236 

54,933 

52,511 
7,474 
2,425 
2,010 
886 

299 

44 

9 

1 
1 


43,803 
157,120 
261,371 
293,720 
244,396 

393,660 
89,944 
40,927 
48,183 
33,137 

19,454 

5,745 

2,475 

926 

1,526 


601 
6,915 
14,953 
24,011 
24,014 

51,114 
15,746 
8,477 
12,330 
10,978 

8,370 

2,928 

1,339 

489 

805 


6,553 
9,953 
15,054 
11,849 
15,820 

20,047 

1,246 

571 

511 

259 

138 
51 

11 
1 

1 


4,385 
14,546 

37,770 
40,763 
70,770 

128,681 
14,454 

9,895 
12,576 

9,857 

9,242 
6,652 
2,880 
807 
2,621 


151 




523 




3,050 




2,573 




7,749 




16,345 


4l0 000 under 415 000 


2,554 




2,299 


$20 000 under $30 000 


3,118 




3,494 




4,132 


$100 000 under $200 000 


3,142 




1,553 


$500,000 under $1,000,000 


307 
1,664 






Total 


1,432,531 


5,181,397 


681,645 


219,313 


784,291 


90,524 


502,089 


1,636,387 


183,130 


82,165 


365,899 


52,654 








New Hampshire 


New Jersey 


New Mexico 


New York^ 


Taxable and nontaxable returns: 


40,162 
41,031 
45,545 

37,020 
23,655 

25,850 

1,834 

764 

496 

296 

94 

24 

6 


22,405 
61,024 
113,568 
130,836 
105,858 

160,851 
21,812 
13,045 
12,118 
11,102 

6,227 
3,250 
1,443 


215 
3,466 
9,096 

11,097 
9,525 

20,509 
3,945 
2,792 
3,120 
3,551 

2,586 

1,660 

839 


215,839 
289,403 
347,317 
370,594 
316,172 

494,850 

48,059 

15,808 

11,423 

5,232 

2,079 

358 

53 

10 

2 


111,140 

435,321 

869,764 

1,293,139 

1,415,225 

3,210,847 
572,371 
272,569 
270,342 
196,999 

137,327 

46,613 

14,519 

5,514 

2,517 


1,530 

27,181 
77,174 
121,013 
143,614 

415,039 
98,184 
56,899 
67,200 
62,632 

58,287 

24,067 

8,770 

3,902 

1,265 


33,114 
28,978 
36,957 
30,222 
25,261 

42,664 
3,916 
1,222 

477 
1,010 

207 
42 

5 

1 


18,551 
45,901 
92,454 
106,647 
117,322 

276,732 
47,040 
20,787 
11,706 
34,256 

13,031 

5,408 

1,416 

846 


289 
2,143 
3,453 
7,412 
10,298 

34,952 
8,179 
4,376 
3,252 

10,650 

5,738 

2,591 

765 

356 


717,966 

983,651 

1,157,947 

1,103,908 

921,598 

1,279,816 
140,070 
48,973 
38,003 
23,605 

11,356 

2,939 

734 

92 

43 


393,205 
1,439,341 
2,899,870 
3,873,623 
4,137,944 

3,331,305 

1,671,813 

838,909 

912,959 

893,790 

757,390 

388,693 

205,811 

63,649 

88,129 


5,016 


$1 000 under $2 000 


79,218 




222,082 


43 000 under 44 000 


343,114 




382,013 


$5 000 under $10 000 


1,040,612 


4lO 000 under 415 000 


273,124 


$15 000 under $20 000 


165,532 




212,602 


$30 000 under $50 000 


260,013 


450 000 under 4100 000 


289,469 




181,008 


4200 000 under 4500 000 


106,721 


$500,000 under $1,000.000 

4l 000 000 or more 


36,826 
53,852 








216,777 


663,649 


72,411 


2,117,199 


8,855,507 


1,166,757 


204,076 


792,097 


94,454 


6,435,701 


26,945,431 


3,656,252 











See footnotes at end of table. See text for individual returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations of Data.' 



48 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



Table 13.— ADJUSTED GROSS INCOME AND INCOME TAX LIABILITY. BY STATES AND TERRITORIES AND BY ADJUSTED GROSS INCOME CLASSES— Condoued 

(Returns with adjusted gross income) 



Adjusted gross income classes 


Number of 
returns 


Adjusted 

gross 
income 

f Thouaand 
dollars} 


Income tax 
liability 

(after 
credits) 

(Thmiaand 
dollara) 


Number of 
returns 


Adjusted 
gross 
income 

( Thousand 
dollara) 


Income tax 
liability 

(after 
credits) 

(Thousand 
dollara) 


Number of 
returns 


Adjusted 
gross 
income 

dollara) 


Income tax 
liability 

(after 
credits) 

dollars) 


Number of 
returns 


Adjusted 

gross 
income 

dollars) 


Income tax 
liability 

(after 
credits) 

(Thousand 
dollara) 




North Carolina 


North Dakota 


Ohio 


Oklahoma 


Taxable and nontaxable returns: 


160,308 
261,531 
238,165 
156,013 
104,113 

124,166 

11,189 

4,652 

3,571 

2,351 

991 

162 

21 

4 

2 


89,963 
403,509 
587,930 
539,223 
465,118 

785,637 

134,582 

79,248 

86,487 

83,368 

65,134 

21,261 

6,079 

2,717 

3,289 


818 
15,388 
27,373 
33,228 
37,400 

88,117 
22,075 
15,539 

20,084 
25,511 

25,162 

10,081 

3,293 

1,294 

1,925 


38,495 
58,764 
39,508 
35,814 
17,352 

15,553 
2,725 

650 
646 
305 

70 
5 
2 


23,672 
86,617 
98,741 
122,990 
78,490 

105,576 
31,517 
11,276 
15,356 
11,245 

3,979 
651 
574 


318 
4,261 
6,261 

7,333 
6,888 

11,593 
5,346 
2,291 
3,653 
3,215 

1,521 
338 

403 


366, 556 
487,937 
479,200 
591,048 
485,230 

740,723 
55,739 
18,280 
15,632 
8,941 

3,752 

820 

169 

25 

6 


194,532 

720,941 

1,206,338 

2,076,577 

2,173,627 

4,805,774 
563,418 
316,553 
376,346 
336,811 

248,914 

105,563 

46,501 

17,004 

8,985 


2,585 

44,196 

102,088 
197,612 
217,559 

634,451 
117,213 
67,440 
95,132 
110,544 

107,618 

55,539 

27,158 

9,906 

4,829 


109,734 
124,619 
118,741 
105,253 
80,552 

96,787 
9,621 
2,957 
2,335 
1,446 

647 

125 

31 

6 

2 


58,724 
184,866 
295,584 

368,527 
361,310 

537,306 

114,438 

50,745 

56,595 

55,426 

42,944 

16,351 

8,753 

4,091 

3,191 


510 


$1,000 under $2,000.. 




18,260 
26,743 
33,768 

31,372 
19,939 
10,581 
14 352 


$3 000 under $4,000 


$4,000 under $5,000' 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 


$30,000 under $50,000 

$50,000 under $100,000 


17,949 
18 007 






$200,000 under $500,000 


4 900 


$500,000 under $1,000,000 


2,379 






Total 


1,067,239 


3,358,545 


327,289 


211,000 


591,704 


53,426 


3,254,058 


13,298,984 


1,794,080 


552,877 


2,259,852 


267,793 




Oregon 


Pennsylvania 


Rhode Island 


South Carolina 


Taxable and nontaxable returns: 

Under $1,000 

$1,000 under $2,000 


68,179 
105,567 
89,013 
91,320 
96,401 

116,900 
9,805 
3,426 
2,960 

1,635 

751 
128 
27 

4 
1 


34,912 
156,362 
220,228 
322,147 
433,265 

760,650 

116,597 

58,480 

72,458 

62,244 

49,410 

17,233 

7,257 

2,935 

1,903 


342 

7,706 

17,334 

31,485 

41,350 

98,664 
20,425 
12,401 
17,943 
19,558 

20,419 

8,564 

3,698 

1,305 

828 


480,248 
659,564 
764,354 
873,100 
616,781 

715,270 
56,529 
20,625 
15,427 
9,493 

4,914 

1,150 

188 

28 

17 


254,218 
1,001,279 
1,922,597 
3,037,012 
2,760,186 

4,540,068 
575,442 
353,222 
372,088 
358,843 

329,810 
155,306 
53,050 
19,025 
44,409 


2,725 

61,847 

158,035 

264,415 

272,494 

589,690 
119,559 
74,983 
96,547 
113,814 

143,726 
79,201 
31,934 

13,071 
28,337 


37,802 
62,735 
65,925 
69,537 
39,227 

48,309 

3,803 

1,766 

1,282 

756 

318 
82 
26 

1 
2 


21,266 
92,366 
167,387 
239,759 
177,727 

307,952 
45,234 
29,611 
31,174 
28,585 

21,000 
10,692 

7,293 
621 

2,769 


386 
6,448 
13,637 
20,136 
17,654 

39,523 
7,7M 
6,993 
3,343 
9,532 

9,214 
5,563 
4,327 
445 
1,892 


68,411 

113,578 

113,153 

79,746 

51,171 

78,890 
4,823 
1,829 
1,573 
1,047 

453 
91 
25 
21 

1 


39,639 
171,614 
279,773 
276,396 
228,040 

491,957 
57,582 
31,029 
40,575 
39,014 

28,398 
11,596 

6,137 
11,467 

1,008 


276 
5,954 


$3,000 under $4,000 

$4,000 under $5,000' 


17,177 
17,695 


$5,000 under $10,000 


57,604 
9,496 
5,953 

10,833 


$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 




$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 


11,269 

5,499 

2,908 

5,632 

607 






Total 


586,167 


2,316,087 


302,123 


4,217,689 


15,877,555 


2,055,379 


331,571 


1,133,436 


152,007 


514,812 


1,714,230 


177 746 








South Dakota 


Tennessee 


Texas 


Utah 


Taxable and nontaxable returns; 
Under $1 ,000 


44,029 
64,140 
38,718 
33,680 
16,892 

20,569 

2,177 

520 

392 

238 

71 

12 

3 


23,424 
93,933 
95,478 
116,739 
76,423 

132,432 

26,285 

8,714 

9,277 

10,721 

4,565 

1,539 

897 


262 
4,785 
4,639 
8,533 
6,949 

16,242 
4,563 
1,343 
2,236 
3,441 

1,987 
805 
385 


135,652 
190,642 
182,661 
145,597 
92,075 

106,020 

11,069 

4,052 

3,053 

1,746 

746 
115 

27 
3 
1 


73,635 
283,914 
457,442 
507,624 
413,578 

677,472 
131,122 
69,064 
73,346 
65,467 

49,973 

14,772 

7,467 

1,849 

1,642 


480 
10,399 
21,306 
35,109 
39,249 

83,496 
22,383 
14,392 
18,160 
20,835 

21,129 

7,515 

4,587 

793 

307 


350,861 
443,959 
433,245 
403,532 
316,369 

422,217 

45,150 

15,024 

11,048 

8,203 

3,502 

765 

203 

40 

11 


197,511 

559,231 

1,079,819 

1,405,489 

1,422,125 

2,710,023 
533,922 
253,953 
268,331 
312,146 

234,793 

101,611 

61,291 

27,511 

19,942 


1,934 
25,619 
61,406 
106,859 
131,166 

344,034 
96,616 
56,254 
71,370 

106,905 

103,916 
53,622 
34,404 
16,110 
12,508 


33,687 
40,672 
37,214 
39,159 
41,912 

45,431 

3,790 

1,342 

485 

537 

225 

27 

1 
1 


21,829 
61,273 
93,178 
136,110 
138,309 

291,911 
43,329 
22,580 
12,059 
20,537 

14,163 

3,632 

240 

542 


377 






$2,000 under $3,000 


6 280 














$10,000 under $15,000 

$15,000 under $20,000 


7,121 
4 315 






$30,000 under $50,000 


6,288 


$100,000 under $200,000 


1,565 
90 
278 


$500,000 under $1,000,000 






Total 


221,491 


600,477 


56,570 


873,469 


2,828,368 


300,640 


2,454,539 


9,297,753 


1,222,734 


249,544 


909,692 


92,647 




Vermont 


Virginia 


Washington' 


West Virginia 


Taxable and nontaxable returns: 
Under $1 000. . . 


26,057 
2n,482 
24,704 
23,447 
15,404 

12,379 

1,095 

569 

337 

133 

61 
14 
4 

1 


14,802 
43,595 
61,107 
79,991 
68,187 

76,422 
13,119 
9,813 

7,832 
4,836 

4,003 

1,857 

1,120 

920 


152 
2,258 
3,973 
4,893 
5,022 

9,478 
2,201 
2,154 

1,726 
1,419 

1,553 

804 
701 
674 


153,694 
232,557 
214,881 
175,002 
118,524 

157,966 

17,737 

5,013 

3,597 

2,002 

762 

158 

20 

4 

3 


86,280 
354,302 
534,213 
608,946 
534,300 

1,053,254 

211,248 

86,437 

89,623 

75,132 

50,763 
20,466 
5,829 
2,484 
8,016 


1,036 
15,855 
34,170 
45,967 
50,422 

138,043 
36,420 
17,869 
22,274 
23,541 

21,024 

10,324 

3,397 

1,402 

5,310 


114,039 
144,544 
142,417 
172,868 
163,304 

207,203 

20,989 

5,407 

5,037 

2,403 

855 
125 
25 

4 


62,611 
216,282 
357,090 
506,656 
731,064 

1,355,704 
246,525 

92,733 
120,906 

90,286 

56,692 

16,611 
7,437 
3,243 


981 
12,368 
30,947 
58,747 
78,859 

180,968 
44,370 
20,171 
32,293 
30,753 

25,329 
3,386 
4,050 
1,634 


85,253 
110,681 
101,555 
134,059 

75,175 

92,696 
5,660 
1,303 
1,471 
1,003 

391 
45 

5 
1 


44,214 
161,533 
257,809 
467,299 
334,980 

595,142 
66,900 
31,032 
35,537 
37,507 

25,444 

5,704 

1,376 

630 




$1,000 under $2,000 


7 567 


$2,000 under $3,000 


16,121 


$4,000 under $5,000' 


30,855 


$5,000 under $10,000 


73 950 










$20,000 under $30,000 


9 584 






$50,000 under $100,000 


11,504 






$200,000 under $500,000 


853 


$500,000 under $1,000,000 


312 








132,687 


387,605 


37,008 


1,082,020 


3,721,293 


427,054 


979,781 


3,963,940 


530,356 


610,803 


2,065,157 









See footnotes at end of table. See text for individual returns for "Explanation of Classifications and Terms" end for "Description of Sample and Limitations of Data." 



INDIVIDUAL INCOME TAX RETURNS FOR 1952 



49 



Table 13.— ADJUSTED GROSS INCOME AND INCOME TAX LIABILITY, BY STATES AND TERRITORIES AND BY ADJUSTED GROSS INCOME CLASSES— Continued 

(Returns with adjusted gross income) 



Adjusted gross income classes 



Number of 
returns 



AAjusted 
gross 



dotta: 



Income tax 
liability 

(after 
credits) 

(Thoaaand 
dot tors) 



Number of 
returns 



Adjusted 
gross 
income 



Income tax 
liability 

(after 
credits) 

(Thouaand (Thouaartd 

dollars) dotlara) 



Wyoming 



Taxable and nontaxable returns: 

Under $1,CX10 

$1,000 under $2,000 

$2,000 under $3,000 

$3,000 under $i,000 

$<,000 under $5,000' 



$5,000 under $10,000.. 
$10,000 under $15,000. 
$15,000 under $20,000. 
$20,000 under $30,000. 
$30,000 under $50,000. 



$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000. 
$1,000,000 or more 



177,374 
220,943 
217,324 
220,501 
215,220 

251,146 
17,501 
6,656 
4,937 

2,801 

1,135 
201 
41 



Total. 



1,335,781 



102,042 
326,758 
544,443 
771,522 
965,752 

1,616,893 
206,677 
113,627 
119,006 
105,978 

74,726 
26,461 
11,111 

588 



4,985,584 



1,454 
18,692 
41,293 
69,615 
96,023 

208,899 
35,437 
22,864 
28,567 
32,299 

30,755 

13,194 

6,152 

228 



13,561 
18,958 
13,514 
20,294 
17,143 

19,977 

1,764 

699 

486 

213 

84 



605,472 



7,824 
26,585 
32,527 
70,826 
77,625 

134,157 

20,948 

11,840 

11,622 

8,236 

5,634 

1,784 

477 

842 

1,423 



412,350 



151 
1,363 
2,217 
5,706 
7,298 

17,765 
3,792 
2,553 
2,992 
2,787 

2,550 
940 
295 
356 
759 



See text for individual returns for "Explanation of Classifications and Terras" and for "Description of Sample and Limitations of Data." 

'Includes nontaxable returns with adjusted gross income exceeding the class limit. 

^Not comparable with data for prior-year tabulations for two reasons. First, Puerto Rican 1952 returns filed in Baltimore during the first-half 
of 1953 are Included in Maryland data; but Puerto Rican returns filed in New iork City during the last-half of 1953 are included in New York data. 
For prior-year tabulations, Puerto Rican returns were included exclusively in Maryland data. Secondly, for prior-year tabulations, overseas service- 
men's returns were filed exclusively in Baltimore and were included in Maryland data. For 1952 tabulations, these returns were filed in directors' 
offices of the various States and are included in the data for the respective states. 

^Not comparable with data for prior-year tabulations. Includes for -the first time Puerto Rican 1952 returns filed in New York City during the 
last-half of 1953. 

^Includes Alaska. 



HISTORICAL TABLES 
INDIVIDUAL RETURNS, 1944 52 



(For historical data prior to 1944, see Statistics of Income for 1949, pp. 196-226) 

Page 

14. Number of returns by major characteristics, adjusted gross income 

and deficit, and tax 53 

15. Number of returns with income tax habihty, adjusted gross income, 

income tax, average tax, and effective tax rate, by adjusted gross 

income classes 54 

16. Sources of income by type 55 

17. Selected sourcfes of income by adjusted gross income classes 56 

18. Itemized deductions by type 58 

19. Number of returns with adjusted gross income, adjusted gross 

income, and income tax, by States and Territories 59 

51 



INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



53 



Table 14— NUMBER OF RETURhS BY MAJOR CHARACTERISTICS. ADJUSTED GROSS INCOME AND DEFICIT, AND TAX, 1944-1952 



Number of returns , total 

Returns with adjusted gross income, total.... 

Taxable returns 

Nontaxable returns 

Returns with no adjusted gross income, total' 

Returns with only self-eraployment tax 

Nontaxable returns^ 

Number of — 

Taxable returns 

Nontaxable returns^ 

Returns with itemized deductions^ 

Taxable 

Nontaxable^ 

Returns with standard deduction 

Taxable 

Nontaxable 



Number of returns by source of income: 

Positive income: 

Salaries, wages, commissions 

Dividends^ 

Interest received 

Annuities 

Income fron fiduciaries 

Business profit 

Partnership profit 

Net gain from sales of capital assets. 
Net gain from sales of other property. 

Rents and royalties profit 

Miscellaneous income' 

Losses: 

Business loss 

Partnership loss 

Net loss from sales of capital assets. 
Net loss froro sales of other property. 

Rents and royalties loss 

Net operating loss deduction* 

Amount of adjusted gross income, total... 

Taxable returns 

Nontaxable returns 

Amount of adjusted gross deficit, total.. 
Returns with only self-employment tax.. 
Nontaxable returns 

Amount of tax liability, total 

Income tax (after credits ) 

Self-employment tax 



56,528,817 

56,107,089 
43,866,832 
12,240,257 

421,728 

9,441 

412,287 



43,876,273 
12,652,544 

12,835,776 

11,462,609 

1,373,167 

43,693,041 
32,413,664 
11,279,377 



49,342,862 

4,218,722 

5,196,439 

634,881 

425,669 

5,791,797 
1,625,320 
2,034,196 
98,738 
3,865,368 
1,888,988 



1,080,870 
208,170 
665,727 
124,402 

1,054,992 
29,987 



55,447,009 

55,042,597 
42,636,797 
12,405,800 

404,412 
11,813 
392,599 



42,648,610 
12,798,399 

11,581,696 

10,212,822 

1,368,874 

43,865,313 
32,435,788 
11,429,525 



48,538,699 

4,038,391 

4,824,056 

598,330 

432,106 

6,127,629 
1,692,545 
2,132,037 
100,765 
3,835,620 
2,353,892 



1,047,713 
219,839 

582,413 

180,335 

977,980 

30,570 



53,060,098 

52,655,564 
38,186,682 
14,468,882 

404,534 

404,534 



38,186,682 
14,873,416 

10,320,298 
8,724,546 
1,595,752 

42,739,800 
29,462,136 
13,277,664 



46,147,211 

3,668,423 

4,410,271 

525,514 

387,298 

5,876,922 
1,872,550 
1,895,963 
117,067 
3,727,762 
2,278,576 



988,465 
250,928 
668,038 
182,540 
899,337 



51,301,910 
35,628,295 
15,673,615 

512,214 

512,214 



35,628,295 
16,185,829 

9,691,340 
7,899,061 
1,792,279 

42,122,784 
27,729,234 
14,393,550 



44,167,831 

3,656,582 

4,714,567 

545,768 

353,347 

5,817,827 
1,971,001 
1,439,221 
123,254 
3,606,363 
2,288,711 



896,247 
278,292 
697,010 
160,209 
873,636 



52,072,006 

51,745,697 
36,411,248 
15,334,449 

326,309 

326,309 



36,411,248 
15,660,758 

8,828,927 
7,297,843 
1,531,084 

43,243,079 
29,113,405 
14,129,674 



45,000,595 

3,321,922 

3,963,527 

377,317 

328,386 

6,387,370 
1,636,218 
1,694,230 
136,132 
3,174,410 
2,012,844 



820,474 
173,721 
586,123 
103,112 
821,073 



54,799,936 
41,578,524 
13,221,412 

299,072 

299,072 



41,578,524 
13,520,484 

10,401,107 
8,990,964 
1,410,143 

4A, 697, 901 
32,587,560 
12,110,341 



47,657,623 

3,448,646 

3,885,126 

329,518 

319,118 

6,266,638 
1,902,081 
1,866,853 
121,431 
3,163,086 
2,(779,988 



774,649 
183,111 
610,349 
98,030 
852,354 



52,316,547 

52,600,470 
37,915,696 
14,684,774 

216,077 

216,077 



37,915,696 
14,900,851 

8,753,179 
7,566,176 

1,187,003 

44,063,368 
30,349,520 
13,713,848 



45,699,845 

3,306,931 

3,636,477 

308,957 

328,605 

6,301,650 
1,584,734 
2,244,938 
137,267 
3,106,963 
2,038,630 



642,131 
115,186 
502,457 
85,473 
770,224 



49,750,991 

42,650,502 

7,100,489 

181,792 

181,792 



42,650,502 
7,282,281 

8,478,590 

7,800,550 

678,040 

41,454,193 
34,849,952 
6,604,241 



43,888,743 

I 4,952,101 

275,423 
291,859 

5,276,269 
1,421,871 
1,671,192 
83,283 
3,125,981 
1,853,076 



570,572 
108,247 
391,561 
79,707 
692,692 



47,111,495 

46,919,590 

42,354,463 

4,565,122 

191,905 

191,905 



42,354,468 
4,757,027 

8,428,375 

7,733,524 

694,851 

38,683,120 
34,620,944 
4,062,176 



40,916,000 

4,822,003 

258,638 
298,387 

5,595,027 
1,105,731 
1,040,701 
96,668 
3,302,449 
2,042,196 



539,410 
74,326 

432,454 
78,090 

678,028 



(Thouaand dollars) 



216,087,449 

198,531,734 

17,555,665 

797,541 
23,425 

774,116 

28,020,233 

27,802,831 

217,457 



203,097,033 
185,171,964 
17,925,069 

760,548 

23,912 

736,636 

24,439,073 

24,227,730 

211,293 



179,874,478 

158,545,122 

21,329,356 



18,374,922 
18,374,922 



161,373,205 

138,566,406 

22,806,799 

799,280 

799,230 

14,538,141 
14,538,141 



164,173,861 

142,056,385 

22,116,976 

657,847 

657,347 

15,441,529 
15,441,529 



150,295,275 

135,301,876 

14,993,399 

559,193 

559,193 

13,076,281 
18,076,281 



134,330,006 

118,050,027 

16,279,979 

247,206 

247,206 

16,075,913 
16,075,913 



120,301,131 

117,561,661 

2,739,470 

292,472 

292,472 

17,050,378 
17,050,378 



U6,714,736 

114,761,385 

1,953,351 

249,771 

249,771 

16,216,401 
16,216,401 



^Includes returns with no information reported. 

^Excludes optional returns with this source of income which is reported as other income. 

'includes optional returns showing wages not subject to income tax withholding, dividends, and interest, 

*Not available prior to 1951, 



not exceeding $100 per return, reported ir. i 



Dther income. 



54 



INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



Table 15 — NUMBER OF RETURNS, ADJUSTED GROSS INCOME, INCOME TAX. AVERAGE TAX, AND EFFECTIVE TAX RATE, BY ADJUSTED GROSS INCOME CLASSES, 1944-1952 

(Returns with income tax liability) 



Adjusted gross income classes 



1952 



1951 



1950 



19i9 



19ie 



1946 



19i5 



Number of returns 



$500 under $1,000 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $i,000 

$i,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000... 

$200,000 under $500,000.., 
$500,000 under $1,000,000, 
$1,000,000 or more 

Total 

$500 under $1,000 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $i,000 

$4,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000... 

$200,000 under $500,000. . . 
$500,000 under $1,000,000. 
$1,000,000 or more 

Total 

$500 under $1,000 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000. . . 

$200,000 under $500,000... 
$500,000 under $1,000,000. 
$1,000,000 or more 

Total 

$500 under $1,000 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000. . . 

$200,000 under $500,000... 
$500,000 under $1,000,000. 
$1,000,000 or more 

Total 











1,526,161 


2,790,569 


3,153,212 


4,342,819 


4,996,125 


1,420,812 


, 1,610,092 


1,570,113 


1,538,868 


_ 


_ 


_ 


_ 


_ 


2,760,133 


2,754,588 


2,663,366 


2,742,856 


2,619,795 


4,178,487 


4,744,514 


7,041,008 


6,989,931 


2,963,805 


3,115,581 


3,333,412 


3,385,746 


3,628,233 


5,660,010 


5,928,686 


7,175,731 


6,863,662 


3,568,839 


3,814,784 


4,132,168 


4,418,528 


4,683,599 


6,439,111 


6,072,182 


6,348,181 


6,000,454 


3,883,813 


4,178,241 


4,585,740 


4,750,944 


4,914,112 


6,171,703 


5,310,256 


5,252,169 


5,301,072 


8,552,203 


8,858,530 


8,668,606 


8,076,430 


8,280,683 


8,695,846 


5,677,207 


6,737,442 


6,918,693 


7,279,244 


6,949,135 


5,740,400 


4,727,478 


4,880,174 


3,818,891 


2,757,501 


2,612,825 


2,816,977 


10,609,222 


8,699,138 


6,114,699 


4,837,794 


4,666,206 


2,837,585 


2,331,853 


1,885,471 


1,834,433 


983,014 


831,819 


679,114 


581,572 


599,545 


486,961 


452,271 


353,346 


298,478 


324,088 


295,919 


256,019 


220,420 


236,438 


201,300 


192,540 


155,308 


129,466 


252,333 


248,459 


223,482 


181,989 


192,771 


160,010 


156,674 


129,195 


105,972 


152,900 


149,837 


136,462 


105,718 


114,526 


89,158 


88,918 


74,254 


62,032 


65,396 


67,447 


62,689 


46,130 


52,725 


38,049 


39,101 


33,495 


28,963 


14,114 


16,053 


15,512 


10,751 


12,741 


8,410 


8,367 


7,256 


6,438 


3,195 


3,905 


4,058 


2,572 


2,975 


2,018 


1,997 


1,673 


1,489 


416 


523 


623 


379 


415 


302 


323 


258 


221 


148 


171 


219 


120 


149 


114 


94 


71 


62 


42,833,675 


41,594,222 


38,186,682 


35,628,295 


36,411,248 


41,578,524 


37,915,696 


42,650,502 


42,354,468 


Adjusted gross income (Thoaaend dollars) 


_ 


_ 


. 


_ 


1,272,455 


2,152,141 


2,425,223 


3,794,336 


3,923,819 


1,191,714 


1,354,605 


1,310,810 


1,289,971 


_ 


_ 


_ 


_ 


_ 


3,463,102 


3,452,761 


3,381,544 


3,474,249 


3,347,031 


5,295,621 


6,021,539 


8,839,562 


8,747,412 


5,176,783 


5,446,167 


5,818,935 


5,925,589 


6,347,058 


9,974,180 


10,435,174 


12,537,387 


11,988,824 


8,030,291 


8,578,144 


9,290,893 


9,926,073 


10,528,563 


14,507,256 


13,659,829 


14,236,038 


13,454,630 


10,717,097 


11,530,006 


12,652,390 


13,084,856 


13,535,912 


16,951,476 


14,545,694 


14,394,603 


14,530,659 


29,930,509 


30,946,234 


30,154,986 


28,027,897 


25,714,750 


29,914,610 


22,924,649 


23,142,517 


23,773,010 


32,575,069 


31,016,829 


25,557,691 


21,029,837 


21,709,135 


16,917,330 


12,205,197 


11,541,980 


12,432,205 


68,763,095 


55,838,698 


39,046,068 


30,970,696 


29,818,294 


13,433,619 


15,288,504 


12,273,236 


11,735,065 


11,677,403 


9,923,727 


8,148,940 


6,971,830 


7,200,668 


5,870,665 


5,460,356 


4,267,146 


3,602,112 


5,561,110 


5,078,155 


4,396,990 


3,783,153 


4,054,251 


3,455,452 


3,306,371 


2,668,955 


2,224,022 


6,084,077 


6,003,939 


5,391,864 


4,376,718 


4,642,297 


3,847,922 


3,769,976 


3,108,042 


2,554,100 


5,757,127 


5,651,016 


5,144,080 


3,976,070 


4,313,111 


3,351,904 


3,347,687 


2,798,339 


2,338,915 


4,340,235 


4,500,312 


4,192,517 


3,074,224 


3,516,082 


2,525,752 


2,593,410 


2,232,799 


1,926,020 


1,863,390 


2,128,209 


2,063,310 


1,427,146 


1,687,801 


1,112,582 


1,101,556 


956,753 


852,292 


891,963 


1,100,454 


1,141,235 


718,256 


836,689 


574,611 


563,822 


476, 340 


419,670 


278,810 


349,694 


419,462 


254,332 


274,704 


201,811 


216,896 


169,744 


149,017 


289,224 


344,640 


433,407 


255,509 


258,072 


214,946 


184,145 


123,384 


109,611 


196,590,999 


183,243,590 


158,545,122 


138,566,406 


142,056,885 


135,301,876 


118,050,027 


117,561,661 


114,761,385 






Income 


tax liability (after credits) (Thousand dollersi 






_ 


_ 


_ 


_ 


37,706 


99,608 


112,705 


138,405 


146,361 


46,964 


50,542 


40,337 


38,437 


_ 


_ 


_ 


_ 


_ 


271,039 


241,320 


197,079 


191,102 


187,415 


387,787 


432,817 


575,916 


584,939 


477,751 


461,740 


413,125 


394,473 


435,023 


844,726 


848,468 


1,071,730 


1,026,126 


748,512 


721,975 


647,870 


650,080 


704,578 


1,291,807 


1,142,625 


1,344,942 


1,264,429 


1,022,509 


998,321 


090,984 


875,700 


914,648 


1,510,628 


1,227,337 


1,424,862 


1,455,234 


2,941,669 


2,728,262 


2,177,241 


1,919,402 


1,990,235 


2,767,106 


2,099,586 


2,569,494 


2,662,163 


3,323,844 


2,919,638 


2,043,783 


1,609,178 


1,687,046 


1,761,421 


1,277,523 


1,507,599 


1,626,139 


8,849,348 


6,607,556 


3,983,698 


3,039,306 


2,960,914 


2,550,665 


2,160,867 


2,119,569 


1,997,510 


2,024,375 


1,594,410 


1,157,379 


951,897 


1,002,044 


1,172,385 


1,105,837 


1,025,393 


866,922 


1,158,592 


978,921 


757,996 


625,709 


684,138 


850,451 


824,524 


775,181 


647,519 


1,520,467 


1,387,758 


1,121,239 


869,647 


945,484 


1,167,726 


1,160,281 


1,086,667 


899,901 


1,830,556 


1,677,416 


1,382,086 


1,022,535 


1,136,288 


1,277,688 


1,291,755 


1,202,778 


1,017,838 


1,811,292 


1,778,160 


1,517,006 


1,062,365 


1,247,160 


1,186,450 


1,223,315 


1,156,298 


1,021,998 


934,889 


1,043,855 


942,110 


623,421 


759,324 


613,018 


603,237 


568,290 


534,490 


495,864 


612,801 


602,558 


369,969 


441,954 


340,804 


327,245 


293,392 


284,970 


164,964 


211,452 


239,881 


148,465 


155,866 


122,749 


127,671 


109,962 


103,804 


180,196 


213,653 


260,550 


146,459 


151,715 


131,263 


110,117 


79,900 


76,058 


27,802,831 


24,227,780 


18,374,922 


14,538,141 


15,441,529 


18,076,281 


16,075,913 


17,050,378 


16,216,401 






Ave 


rage income t 


ax per taxabl 


e return (Ooll 


OTS) 






. 


. 


. 


. 


25 


36 


36 


29 


29 


33 


31 


26 


25 


_ 


_ 


_ 


- 


- 


98 


86 


74 


70 


72 


93 


91 


82 


84 


161 


148 


124 


117 


120 


149 


143 


149 


150 


210 


189 


157 


147 


150 


201 


188 


212 


211 


263 


239 


194 


184 


186 


245 


231 


271 


275 


344 


308 


251 


238 


240 


318 


314 


381 


385 


457 


420 


356 


340 


346 


461 


463 


577 


577 


834 


760 


651 


628 


635 


899 


927 


1,124 


1,089 


2,059 


1,917 


1,704 


1,637 


1,671 


2,408 


2,445 


2,902 


2,904 


3,575 


3,308 


2,961 


2,839 


2,894 


4,225 


4,282 


4,991 


5,001 


6,026 


5,585 


5,017 


4,779 


4,905 


7,298 


7,406 


8,411 


8,492 


11,972 


11,195 


10,128 


9,672 


9,922 


14,331 


14,527 


16,198 


16,408 


27,697 


26,364 


24,199 


23,030 


23,654 


31,162 


31,286 


34,522 


35,286 


66,238 


65,026 


60,734 


57,987 


59,597 


72,392 


72,097 


78,320 


83,021 


155,200 


156,927 


148,486 


143,845 


148,556 


168,882 


163,868 


175,369 


191,363 


396,548 


404,306 


385,042 


391,728 


375,581 


406,454 


395,266 


426,209 


469, 70r 


1,217,541 


1,249,433 


1,189,726 


1,220,492 


1,018,221 


1,151,430 


1,171,457 


1,125,352 


1,226,742 


649 


582 


481 


408 


424 


435 


424 


400 


383 



INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



55 



T.ble 15.-NUMBER OF RETURNS, ADJUSTED GROSS INCOME. INCOME TAX, AVERAGE TAX, AND EFFECTIVE TAX RATE. BY ADJUSTED GROSS INCOME CLASSES. 1944-1952-Cont„.ued 

(Returns with income tax liability) 



Adjusted gross income classes 



$500 under $1,000 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000. . . 
$100,000 under $200,000.. 

$200,000 under $500,000.. 
$500,000 under $1,000,000 
$1,000,000 or more 

Total 



Effective income tax rate (Income tax aa parcant of adiuitad groaa incoma) 



3.9 
7.8 
9.2 
9.3 



10.2 
12.9 
17.3 

20.8 
25.0 
31.8 
41.7 
50.2 

55.6 
59.2 
62.3 



3.7 
7.0 
8.5 



9.4 
11.8 
16.1 

19.3 
23.1 
29.7 
39.5 
49.0 

55.7 
60.5 
62.0 



5.8 
7.1 
7.0 

7.0 

7.2 

8.0 

10.2 

14.2 

17.2 
20.8 
26.9 
36.2 
45.7 

52.8 

57.2 
60.1 



3.0 
5.5 
6.7 
6.5 

6.7 
6.8 
7.7 
9.8 
13.7 

16.5 
19.9 
25.7 
34.6 
43.7 

51.5 
58.4 
57.3 



5.6 
6.9 
6.7 

6.8 
6.9 
7.8 
9.9 
13.9 

16.9 
20.4 
26.3 
35.5 
45.0 

52.8 

56.7 
58.7 



7.3 
8.5 
8.9 

8.9 
9.3 
10.4 
13.8 
20.0 

24.6 
30.3 
38.1 
47.0 
55.1 

59.3 

60.8 
61.1 



7.2 
8.1 
8.4 



9.2 

10.5 
14.1 
20.3 

24.9 
30.8 
38.6 
47.2 
54.8 

58.0 
58.9 

59.8 



6.5 
8.5 
9.4 

9.9 
11.1 
13.1 
17.3 
24.0 

29.0 
35.0 
43.0 
51.8 
59.4 

61.6 

64.8 
64.8 



9.4 

10.0 
11.2 
13.1 
17.0 
24.1 

29.1 
35.2 

43.5 
53.1 
62.7 

67.9 
69.7 
69.4 



Table 16.— SOURCES OF INCOME BY TYPE, 1944-1952 



Sources of income 



Returns with adjusted gross income: 

Positive income: 

Salaries, wages, commissions^ 

Dividends^ 

Interest received^ 

Annuities 

Income from fiduciaries 

Business profit 

Partnership profit 

Net gain from sales of capital assets. 
Net gain from sales of other property. 

Rents and royalties profit 

Miscellaneous income* 

Total 

Losses: 

Business loss 

Partnership loss 

Net loss from sales of capital assets. 
Net loss from sales of other property. 

Rents and royalties loss 

Net operating loss deduction' 

Total 

Adjusted gross income 



Returns with no adjusted gross income: 

Positive income: 

Salaries, wages, commissions 

Dividends 

Interest received 

Annuities 

Income from fiduciaries 

Business profit 

Partnership profit 

Net gain from sales of capital assets 
Net gain from sales of other property. 

Rents and royalties profit 

Miscellaneous income 

Total 

Losses: 

Business loss 

Partnership loss 

Net loss from sales of capital assets 
Net loss from sales of other property 

Rents and royalties loss 

Net operating loss deduction' 

Total 

Adjusted gross deficit 



(Thousand dollars j 



174,193,394 

5,834,215 

1,822,337 

581,672 

1,700,139 

18,180,679 
8,799,142 
2,761,088 

102,826 
3,432,513 

794,878 



218,202,883 



1,009,459 
241,285 
348,557 

89,145 
383,212 

43,724 



2,115,382 



216,087,449 



145,638 

25,409 

24,562 

2,139 

11,096 

14,314 
34,656 
74,777 
13,770 
56,583 
6,958 



409,902 



873,919 
150,234 
16,905 
50,624 
24,892 
90,865 



797,541 



160,336,699 

6,030,895 

1,684,015 

499,306 

1,739,064 

18,131,463 
8,852,180 
3,185,644 
83,761 
3,299,948 
1,199,951 



205,042,926 



939,922 
231,766 
268,802 
126,056 
342,834 
36,511 



203,097,033 



144,998 
■ 25,120 

18,200 
503 

22,361 

31,078 
18,865 
96,777 

5,142 
53,415 

8,598 



425,057 



756,666 
227,316 
16,373 
78,267 
38,322 
68,668 



1,185,612 



760,548 



138,956,127 

6,130,906 

1,582,898 

429,767 

1,689,754 

16,846,649 
8,554,469 
3,181,051 
101,494 
3,183,655 
1,008,812 



181,665,582 



840,420 
223,547 
313,886 
132,306 
280,980 



1,791,139 



179,874,478 



116,998 

26,793 

12,706 

2,04a 

10,318 

16,785 
21,038 
77,520 
1,694 
40,797 
10,262 



336,959 



758,250 

137,740 

16,742 

53,140 

47,293 



124,798,953 

5,218,206 

1,511,555 

441,969 

1,435,302 

15,613,095 
7,894,590 
1,886,459 
100,890 
3,024,215 
1,030,824 



162,956,058 



635,138 
248,785 
331,192 
101,086 
266,667 



1,582,868 



161,373,205 



84,195 

28,021 

16,275 

1,439 

8,066 

16,451 
17,638 
69,061 

5,602 
35,417 

9,965 



292,130 



763,734 

189,353 

19,501 

72,716 

46,104 



1,091,408 



799,280 



125,814,826 

4,939,627 

1,279,044 

293,103 

1,307,280 

18,029,409 
8,043,862 
2,455,675 

106,571 
2,572,772 

748,276 



165,590,445 



646,141 
166,030 
285,844 
82,481 
236,092 



164,173,861 



66,576 

31,273 

14,406 

1,315 

7,287 

19,360 
20,163 
43,987 

4,607 
26,650 

6,814 



242,438 



644,436 

149,679 

12,725 

66,844 

26,599 



114,736,671 

4,278,371 

1,U5,258 

226,330 

1,227,282 

16,370,491 

8,231,785 

2,410,102 

97,121 

2,201,090 

645,294 



151,539,795 



519,098 
152,156 
279,314 
67,003 
226,940 



1,244,511 



150,295,275 



67,076 

16,819 

10,156 

502 

3,399 

10,078 
16,797 
42,195 

4,013 
26,579 

4,332 



201,946 



519,812 

143,121 

18,281 

56,080 

23,845 



761,139 



99,144,074 
3,670,587 
1,064,219 

231,309 
1,106,134 

16,004,322 

8,083,097 

3,296,217 

121,384 

1,903,726 

749,093 



135,374,162 



442,906 
108,554 
233,156 
67,271 
192,270 



134,330,006 



29,585 

3,270 

2,843 

825 

1,529 

7,005 
2,558 
22,344 
1,295 
8,668 
1,997 



81,919 



248,514 
29,254 
16,974 
25,131 
9,251 



329,124 



247,206 



9] ,658,219 

3,906,025 

194,685 
945,594 

12,572,022 

7,195,884 

2,275,701 

63,922 

1,758,131 

595,186 



121,165,369 



350,118 
86,503 

181,669 
69,963 

175,992 



864,245 



120,301,131 



41,560 
18,625 






11,462 
12,862 
32,332 

3,903 
13,321 

4,872 



142,817 



290,074 
62,445 
11,856 
57,169 
13,745 



292 ,472 



91,095,081 

3,911,110 

180,343 
920,246 

12,086,318 

5,766,696 

1,127,446 

64,358 

1,762,224 

600,168 



117,513,990 



299,853 
56,627 

212,738 
73,225 

156,810 



116,714,736 



29,666 

12,620 

1,060 
2,635 

12,909 
5,713 

14,570 
2,156 

10,165 
3,434 



94,928 



235,386 
29,763 
11,664 
56,391 
11,496 



344,700 



^Excludes wages of less than $100 per return from which no income tax was withheld, reported on optional returns as other income. 

^Excludes dividends received through partnerships and fiduciaries and those reported on optional returns. 

■'Excludes interest of less than $100 per return reported on optional returns. 

^Includes wages not subject to income tax withholding, dividends, and interest, not exceeding $100 per return, reported in one sum as other income on optional returns. 

'Not available prior to 1951. 

^Number of returns is subject to san5)ling variation of more than 100 percent; therefore, data are not shown separately. However, they are included in totals. 



56 



INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



Table 17— SELECTED SOUKCES OF INCOME BY ADJUSTED GROSS INCOME CLASSES. 1944-1952 



Adjusted gross inccnie classes 



Salaries, wages, commissions cTTi.xisjnd dolUi 



Returns with adjusted gross income: 

Under $500 

$500 under $1,000 

Under $600 

$600 under $1,000 

$1,000 under $1,500' 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$i,000 under $5,000^ 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total 

Returns with no adjusted gross income. 

Grand total 

Returns with adjusted gross income: 

Under $500 

$500 under $1,000 

Under $600 

$600 under $1,000 

$1,000 under $1,500' 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $i,000 

$4,000 under $5,000^ 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total 

Returns with no adjusted gross income. 

Grand total 

Returns with adjusted gross Income: 

Under $500 

$500 under $1,000 

Under $600 

$600 under $1,000 

$1,000 under $1,500' 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000^ 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total 

Returns with no adjusted gross Income. 

Grand total 

See footnotes at end of table. 











826,510 


1,037,879 


1,164,941 


1,345,897 


768,463 


_ 


- 


. 


- 


2,635,294 


3,276,375 


3,783,359 


3,772,823 


3,538,186 


1,197,251 


1,146,950 


1,093,015 


1,114,198 


- 


- 


- 


- 


- 


1,964,031 


2,154,234 


2,247,748 


2,288,944 


_ 


_ 


_ 


_ 


_ 


4,763,672 


4,765,216 


5,003,951 


5,357,515 


5,115,343 


6,503,166 


7,629,891 


7,821,516 


7,565,454 


6,761,372 


7,062,581 


7,866,925 


3,253,360 


8,639,432 


11,080,052 


11,999,334 


11,021,435 


10,421,078 


9,147,321 


9,758,258 


10,380,068 


11,740,607 


12,295,300 


15,017,923 


14,674,070 


12,690,317 


11,926,793 


11,757,228 


12,474,191 


13,996,335 


14,578,344 


14,936,787 


16,744,993 


14,458,092 


12,336,552 


13,101,117 


30,554,952 


31,270,695 


30,717,185 


28,413,731 


29,124,313 


27,869,323 


20,707,182 


20,620,539 


21,521,093 


31,342,772 


29,561,094 


23,861,323 


19,170,123 


19,849,534 


14,498,399 


9,793,982 


9,676,760 


10,730,347 


60,361,693 


47,621,929 


31,515,233 


23,996,697 


22,430,789 


11,454,941 


3,667,136 


7,067,600 


7,272,573 


7,172,156 


5,626,778 


4,175,514 


3,593,899 


3,408,527 


2,438,846 


2,057,229 


1,524,071 


1,334,541 


2,590,932 


2,308,530 


1,855,309 


1,663,462 


1,656,210 


1,335,736 


1,131,172 


354,804 


756,752 


2,435,160 


2,443,317 


2,053,211 


1,742,438 


1,740,103 


1,380,574 


1,210,667 


935,619 


315,541 


2,102,804 


2,020,299 


1,768,317 


1,438,038 


1,487,639 


1,089,868 


955,150 


745,895 


654,718 


1,415,540 


1,421,555 


1,256,908 


964,043 


1,036,658 


695,377 


630,800 


490,434 


449,697 


463,227 


512,329 


463,720 


347,425 


391,664 


231,652 


201,221 


148,797 


139,363 


140,748 


160,592 


164,845 


112,323 


114,897 


63,106 


61,620 


45,358 


41,627 


17,596 


24,074 


27,827 


18,066 


13,247 


8,772 


10,648 


7,545 


6,474 


4,439 


4,077 


7,693 


5,729 


7,033 


3,140 


2,031 


1,752 


1,261 


174,193,394 


160,336,699 


138,956,127 


124,798,953 


125,814,326 


114,736,671 


99,144,074 


91,658,219 


91,095,081 


145,638 


14^,998 


116,998 


34,195 


66,576 


67,076 


29,585 


41,580 


29,666 


174,339,032 


160,481,697 


139,073,125 


124,883,148 


125,881,402 


114,803,747 


99,173,659 


91,699,799 


91,124,747 


Dividends* (Thousand dollars) 


. 


. 


. 


. 


9,967 


13,837 


8,535 


18,105 


20,572 


_ 


- 


_ 


_ 


52,192 


61,798 


59,667 


104,805 


125,542 


18,236 


11,126 


13,255 


16,387 


- 


- 


- 


- 


- 


42,567 


39,969 


44,003 


55,742 


_ 


_ 


_ 


_ 


_ 


68,815 


71,780 


83,102 


90,554 


77,767 


92,637 


81,931 


140,531 


165,909 


89,248 


88,011 


88,256 


108,496 


85,121 


96,006 


89,860 


141,074 


157,801 


90,694 


95,036 


93,956 


123,090 


90,802 


105,357 


95,006 


147,936 


148,562 


101,725 


102,454 


101,619 


119,276 


86,675 


105,762 


103,472 


138,136 


145,732 


196,131 


199,416 


207,767 


261,941 


183,714 


207,702 


178,881 


249,705 


260,119 


199,570 


229,364 


227,541 


226,052 


187,515 


175,112 


174,753 


178,271 


226,103 


845,370 


853,185 


780,146 


732,133 


643,704 


615,424 


545,815 


625,912 


615,584 


592,188 


551,141 


525,708 


446,940 


428,719 


403,488 


352,637 


365,025 


347,661 


417,070 


404,406 


393,190 


334,989 


322,247 


307,659 


257,882 


263,073 


248,378 


593,180 


604,679 


602,621 


485,815 


470,908 


421,074 


356,406 


347,160 


320,625 


729,432 


735,213 


753,936 


591,314 


601,495 


479,275 


398,093 


365,757 


346,716 


802,253 


841,279 


866,375 


671,926 


697,785 


510,842 


420,466 


372,534 


354,241 


502,339 


558,639 


592,084 


439,648 


484,886 


320,643 


253,237 


210,146 


199,016 


312,377 


364,894 


403,322 


289,075 


300,382 


199,684 


162,371 


125,943 


U9,642 


100,881 


130,601 


158,822 


110,883 


102,760 


77,499 


72,273 


53,476 


58,473 


132,139 


149,702 


179,203 


108,943 


112,999 


84,071 


59,255 


53,336 


50,436 


5,834,215 


6,030,395 


6,130,906 


5,218,206 


4,939,627 


4,278,371 


3,670,587 


3,906,025 


3,911,110 


25,409 


25,120 


26,793 


28,021 


31,273 


16,819 


3,270 


18,625 


12,620 


5,859,624 


6,056,015 


6,157,699 


5,246,227 


4,970,900 


4,295,190 


3,673,857 


3,924,650 


3,923,730 


Interest received' (Thouaand dollars) 










11,179 


13,041 


8,313 


-> 






_ 


_ 


_ 


_ 


49,095 


53,587 


4^,087 








19,615 


17,963 


19,571 


16,964 


_ 


_ 


- 








48,018 


45,531 


44,154 


53,510 


- 


- 


- 








81,132 


71,327 


74,529 


33,939 


65,681 


63,533 


55,947 








84,774 


76,550 


77,866 


91,703 


59,229 


64,019 


59,111 








82,537 


74,709 


68,066 


79,073 


60,162 


62,898 


59,121 








75,986 


71,350 


66,922 


71,703 


58,935 


60,552 


57,108 








128,429 


131,610 


119,396 


135,397 


112,523 


99,829 


97,259 








138,933 


128,569 


126,364 


127,540 


95 ,717 


72,382 


66,734 








397,137 


353,724 


313,921 


303,637 


244,735 


201,061 


188,060 








184,467 


165,038 


145,219 


123,606 


113,620 


100,902 


96,714 




1 (Report 
r divi 


ed with 


116,168 


102,492 


92,049 


81,961 


76,060 


66,414 


64,469 




dends ) 


147,089 


127,927 


122,404 


100,995 


93,092 


76,771 


79,482 








137,266 


129,189 


126,715 


99,397 


94,149 


73,091 


73,277 








105,898 


105,539 


93,633 


73,621 


78,294 


58,062 


60,863 








44,883 


46,305 


45,816 


37,065 


37,521 


26,186 


27,995 








21,114 


20,710 


23,040 


15,370 


17,353 


12,658 


12,709 








3,994 


5,124 


7,035 


5,106 


5,493 


4,107 


6,420 








4,897 


5,358 


6,148 


5,415 


6,215 


6,161 


6,041 








1,822,337 


1,684,015 


1,582,898 


1,511,555 


1,279,044 


1,115,258 


1,064,219 








24,562 


18,200 


12,706 


16,275 


14,406 


10,156 


2,843 








1,846,899 


1,702,215 


1,595,604 


1,527,830 


1,293,450 


1,125,414 


1,067,062 


_- 







INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



57 



Table 17.— SELECTED SOURCES OF INCOME BY ADJUSTED GROSS INCOME CLASSES. 1944-1952— Continued 








Adjusted gross inccsne classes 


1952 


1951 


1950 


1949 


1948 


1947 


1946 


1945 


1944 






Business profit (Thoaaand dollaraj 






Returns with adjusted gross income: 


105,506 
300,727 
672,572 

922,504 

995,599 

1,137,327 

1,994,450 

1,608,172 

4,087,451 
1,952,696 
1,207,256 
1,338,082 
1,105,699 

563,419 

138,078 

37,901 

8,703 

4,537 


110,232 
295,738 
728,071 

963,095 
1,143,414 
1,199,742 
2,137,336 
1,643,200 

3,845,706 
1,845,160 
1,111,531 
1,252,349 
1,030,518 

592,568 

166,863 

49,098 

10,149 

5,593 


114,250 
324,004 
760,470 

1,028,688 
1,112,835 
1,148,598 
1,987,315 
1,512,663 

3,433,953 

1,672,103 
930,517 

1,124,333 
915,644 

513,650 

153,962 

42,470 

10,005 

5,684 


142,904 
335,642 
875,216 

1,108,237 
1,177,748 
1,183,369 
1,373,273 
1,467,623 

3,208,082 

1,401,008 

803,714 

873,342 

646,875 

336,899 

37,756 

27,131 

6,919 

7,352 


76,949 
431,734 

383,773 

1,191,803 
1,242,922 
1,236,909 
2,113,114 
1,676,585 

3,824,833 
1,752,694 

998,677 
1,065,369 

309,288 

471,907 

137,191 

43,201 

7,665 

9,802 


95,729 
469,456 

927,023 

1,156,495 
1,297,021 
1,223,001 
2,056,996 
1,561,828 

3,553,366 

1,480,375 

790,126 

739,329 

562,105 

294,396 

73,846 

25,951 

6,767 

5,684 


93,708 
522,234 

962,166 

1,198,703 
1,270,771 
1,210,883 
1,974,603 
1,426,547 

3,292,959 

1,408,127 

736,973 

812,440 

592,011 

331,981 
38,141 
25,239 
2,275 
4,569 


104,131 
537,936 

891,498 

969,473 

959,734 

895,152 

1,427,700 

1,000,881 

2,456,694 

1,105,146 

642,021 

659,595 

483,745 

296,036 

98,622 

32,631 

6,327 

4,700 


134,404 




642,012 




- 




- 




1,0U,117 




1,063,912 




993,260 




903,132 




1,318,930 




916,307 




2,195,528 




953,854 




532,845 




543,505 




418,397 




279,452 




112,618 




47,517 




10,642 


$1 ,000 ,000 or more 


5,331 




18,180,679 
14,314 


18,131,463 
31,078 


16,846,649 
16,785 


15,613,095 
16,451 


18,029,409 
19,360 


16,370,491 
10,073 


16,004,322 
7,005 


12,572,022 
11,462 


12,036,318 




12,909 




18,194,993 


18,162,541 


16,363,434 


15,629,546 


18,048,769 


16,380,569 


16,011,327 


12,583,484 


12,099,227 










Partnership profit (Thouaand dollara) 








Returns with adjusted gross income: 


19,096 
30,079 
99,112 

122,307 
167,412 
208,154 
481,853 
523,664 

1,897,693 

1,118,743 

794,807 

995,687 

1,078,931 

824,082 

324,103 

94,503 

12,179 

6,737 


16,706 
48,311 
96,867 

160,234 
200,335 
262,254 
588,258 
519,093 

1,737,359 

1,051,772 

705,792 

980,999 

1,075,101 

860,375 

383,952 

130,461 

22,340 

11,971 


21,497 
60,550 
141,159 

194,073 
258,331 
296,255 
590,004 
533,728 

1,671,464 
979,046 
655,394 
928,450 
945,936 

790,584 

337,431 

120,174 

20,875 

9,513 


29,511 
78,893 
184,555 

247,548 
289,039 
301,493 
631,215 
568,377 

1,605,933 
908,351 
588,482 
778,834 
772,636 

596,882 

224,287 

69,623 

12,524 

5,795 


3,618 
61,416 

116,436 

178,756 
217,559 
272,664 
502,040 
531,716 

1,596,027 
970,018 
676,680 
355,453 
371,434 

768,871 

294,495 

97,443 

18,456 

5,782 


14,828 
75,237 

157,358 

246,248 
325,522 
363,194 
701,011 
526,409 

1,651,083 

1,000,096 

678,497 

839,632 

738,330 

590,699 

197,497 

57,732 

13,359 

4,555 


9,883 
57,430 

112,106 

135,085 
234,725 
299,286 
546,468 
457,915 

1,499,254 

1,022,357 

736,388 

916,083 

919,140 

736,462 
249,480 
78,034 
14,394 

8,605 


9,765 
67,731 

126,003 

162,895 
198,665 
232,466 
416,415 
369,608 

1,315,963 
364,155 
639,952 
827,912 
851,198 

716,221 

271,816 

92,958 

24,013 

8,143 


7,044 




52,227 




- 




- 




100,467 




123,930 




174,512 




168,090 




317,591 




230,040 




1,013,877 




679 ,029 




503,506 




649,036 




683,446 




609,231 




253,951 




103,843 




18,931 




17,946 




3,799,142 
34,656 


8,352,180 
18,865 


8,554,469 
21,038 


7,894,590 
17,638 


8,043,362 
20,163 


3,231,785 
16,797 


3,083,097 
2,558 


7,195,884 
12,862 


5,766,696 


Returns with no adjusted gross income 


5,713 




3,833,798 


3,371,045 


3,575,507 


7,912,228 


8,064,025 


8,248,582 


3,085,655 


7,208,746 


5,772,409 






R 


nts and roya 


ties profit 


(Thouaand dotlara) 






Returns with adjusted gross Income: 

Under $500 

*500 under 4l 000 


50,957 
126,348 
205,770 

180,549 
193,229 
164,104 
298,717 
309,033 

703,866 
305,642 
182,740 
220,726 
205,145 

165,823 

70,415 

30,245 

9,747 

9,457 


48,165 
122,690 
183,913 

184,474 
163,802 
178,832 
236,648 
269,209 

725,908 
275,666 
164,292 
203,403 
201,880 

157,566 

73,730 

38,128 

10,307 

5,335 


50,527 
123,492 
193,324 

191,576 
192,682 
168,665 
298,103 
274,183 

634,310 
266,130 
157,472 
191,722 
136,746 

143,211 

66,305 

31,614 

8,065 

5,023 


57,607 
141,386 
210,344 

196,083 
179,564 
175 ,012 
321,301 
271,163 

565,413 
239,904 
141,043 
164,552 
156,417 

115, Ul 

55,153 

24,432 

6,563 

2,651 


30,184 
123,187 

153,703 

152,144 
146,120 
133,420 
264,343 
202,593 

480,429 
212,938 
135,127 
159,037 
152,596 

121,802 
59,774 
23,793 
10,975 
5,050 


43,155 
127,450 

144,671 

147,834 
151,639 
142,594 
258,636 
173,534 

392,360 
176,005 
100,992 
113,736 
98,054 

75,248 
28,266 
15,739 
4,042 
2,035 


29,500 
113,590 

135,545 

135,918 
135,626 
142,956 
220,856 
148,711 

323,549 

149,281 

87,128 

97,968 

81,982 

61,925 

22,634 

12,333 

1,674 

2,543 


37,435 
126,913 

144,965 

128,525 
127,946 
126,403 
203,136 
131,424 

290,757 
123,609 
75,518 
81,306 
68,285 

50,391 

22,025 

10,986 

1,257 

2,195 


36,169 
142,144 


Under $600 

4600 under 41 000 


- 


$1 500 under $2 000 


161,166 
141,756 


$2,000 under $2,500 


141,595 
135,434 


43 000 under 44 000 


215,833 




136,496 




269,131 




112,304 


415 000 under 420 000 


65,446 


$20,000 under $30,000 


70,028 
58,080 

43,142 


$100,000 under $200,000 


17,788 
9,547 


$500,000 under $1,000,000 


2,002 


$1,000,000 or more 


2,162 




3,432,513 
56,533 


3,299,943 
53,415 


3,183,655 
40,797 


3,024,215 
35,417 


2,572,772 
26,650 


2,201,090 
26,579 


1,903,726 
3,668 


1,753,131 
13,321 


1,762,224 




10,165 




3,489,096 


3,353,363 


3,224,452 


3,059,632 


2,599,422 


2,227,669 


1,912,394 


1,771,452 


1,772,389 



^For 1944-45, this class includes nontaxable returns with income exceeding the class limit. 

^For 1946 and subsequent years, this class Includes nontaxable returns with income exceeding the class limit. 

'Excludes wages of less than $100 per return from which no income tax was withheld, reported on optional returns as other income. 

*Exclude3 dividends received through partnerships and fiduciaries and those reported on optional returns. For 1944-45, interest and dividends were reported in one sum on 
Form 1040. 

'Excludes interest of less than $100 per return reported on optional returns. 



58 



INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



Table 18 — ITEMIZED DEDUCTIONS BY TYPE, 1944-1952 



Itemized deductions 



(Thousand dollars) 



Returns with adjusted gross income: 

Interest paid 

Taxes paid 

Contributions 

Medical, dental, etc., expenses 

Losses from fire, stonn, etc 

Miscellaneous deductions 

Total 

Returns with no adjusted gross income: 

Interest paid 

Taxes paid 

Contributions 

Medical, dental, etc., expenses 

Losses from fire, storm, etc 

Miscellaneous deductions 

Total 

Grand total 



2,221,353 
3,167,778 
3,114,739 
2,133,130 
367,517 
2,552,035 



13,556,552 



6,123 
7,918 
1,744 
5,104 

5,905 



26,799 



(Not 
'available ) 



11,856,378 



{Not 
available ) 



26,456 



1,494,928 
2,199,940 
2,258,009 
1,556,294 
306,572 
2,097,950 



9,913,693 



4,084 
5,376 
2,333 
4,164 
1,228 
2,021 



19,203 



1,224 ,oi)4 
1,952,731 
2,029,550 
1,482,699 
227,596 
1,837,156 



8,753,738 



5,244 
8,186 
2,244 
5,111 
1,350 
3,734 



25,871 



1,000,439 
1,619,370 
1,878,080 
1,300,516 
241,569 
1,817,912 



7,857,: 



3,292 
8,208 
2,651 
3,711 
2,448 
10,843 



31,153 



13,583,351 11,882,334 9,932,896 8,779,609 7,389,041 7,313,644 6,289,698 5,538,536 



913,922 
1,625,601 
1,969,641 
1,394,818 

250,426 
1,633,553 



7,787,962 



4,286 
5,954 
3,939 

3,3Cf? 
3,449 
4,746 



25,682 



733,364 
1,324,609 
1,633,151 
1,098,326 

178,096 
1,300,137 



6,277,683 



662 
1,346 

331 
1,405 
1,247 
6,025 



12,015 



694,782 

1,245,603 

1,443,208 

932,956 

152,476 

1,051,477 



5,525,492 



2,093 
3,777 
1,303 
2,820 
797 
1,748 



13,044 



709,147 
1,174,521 
1,256,750 
301,363 
173,742 
709,190 



4,829,713 



2,026 
3,302 
1,198 
1,398 
(M 

516 



3,663 



4,838,376 



^Number of returns is subject to sampling variation of more than 100 percent; therefore, data are not shown separately. However, they are included in totals. 



INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



59 



Table 19.— NUMBER OF RETURNS, ADJUSTED GROSS DJCOME, AND INCOME TAX, BY STATES AND TERRITORIES, 1944-1952 

(Returns with adjusted gross income) 



States and Territories 



Alabama 

Arizona 

Arltansas 

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 Hanipshire 

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 

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 

See footnotes at end of table, 

371897 O - 56 -5 



1951 



1950 



1949 



1948 



1947 



Number of returns 



710,102 
263,003 
384,317 
4,593,269 
509,376 

903,371 
139,153 
397,855 
979,277 
884,181 

198,799 

204,223 

3,702,881 

1,560,771 

956,125 

735,424 
800,819 
706,734 
341,265 
1,240,098 

2,010,392 
2,550,756 
1,114,9X 
331,583 
1,432,531 

219,313 

502,089 

82,165 

216,777 

2,117,199 

204,076 
6,435,701 
1,067,239 

211,000 
3,254,058 

652,877 
586,167 
4,217,689 
331,571 
514,812 

221,491 
873,469 
2,454,639 
249,544 
132,587 

1,082,020 
979,781 
610,803 

1,335,731 
106,711 



56,316,869 



706,228 
235,389 
366,990 
4,290,151 
501,563 

896,247 
134,674 
371,578 
904,277 
844,144 

189,336 

199,127 

3,711,052 

1,521,399 

953,011 

709,666 
781,023 
674,174 
328,614 
1,309,272 

1,965,876 
2,555,269 
1,082,642 
320,712 
1,398,118 

218,104 

502,962 

69,903 

216,956 

2,039,995 

194,157 
6,299,130 
1,034,528 

203,780 
3,207,570 

675,187 
574,454 
4,180,637 
335,221 
490,304 

222,991 
856,721 
2,374,600 
241,693 
131,591 

1,001,078 
953,480 
589,091 

1,319,702 
106,318 



55,041,685 



634,960 
214,002 
344,316 
4,078,066 
471,209 

870,345 
128,079 
373,762 
822,036 
770,732 

179,871 

191,116 

3,593,433 

1,464,200 

938,132 

669,904 
715,431 
637,844 
320,488 
1,162,059 

1,931,414 
2,477,041 
1,076,359 
291,822 
1,345,958 

208,597 

478,657 

65,544 

210,103 

2,008,440 

179,164 

6,123,930 

953,858 

198,629 

3,066,256 

606,613 
552,769 
4,060,469 
327,753 
452,555 

215,239 
304,601 
2,237,638 
225,356 
126,495 

956,580 
910,934 
599,684 
1,285,947 
101,191 



610, 931 
203,174 
326,192 
3,993,611 
459,267 

826,426 
120,793 
396,604 
770,284 
725,497 

182,803 

137,650 

3,619,255 

1,409,222 

954,663 

654,528 
679,542 
623,020 
322,300 
1,104,645 

1,902,361 
2,333,553 
1,064,193 
282,472 
1,358,024 

210,026 

475,954 

61,605 

201,461 

1,941,010 

175,767 

6,106,261 

906,710 

217,305 

2,977,078 

600,921 
541,639 
3,974,815 
321,008 
423,338 

2U,937 
771,088 
2,124,368 
216,304 
127,061 

917,380 
906,292 
596,898 
1,267,743 
101,625 



616,539 
206,128 
304,152 
4,060,087 
440,969 

871,497 
122,255 
339,450 
749,657 
741,220 

182,227 

190,204 

3,690,962 

1,441,605 

923,294 

645,843 
713,550 
619,475 
336,902 
958,698 

1,947,809 
2,410,194 
1,066,112 
281,508 
1,287,540 

210,143 

466,438 

63,581 

211,073 

1,993,768 

155,756 
5,203,398 

901,457 

198,521 

3,090,503 

577,105 
557,588 
4,073,136 
331,699 
424,012 

212,545 
769,354 
2,037,366 
221,326 
131,103 

905,559 

902,167 

613,189 

1,285,103 

99,279 



52,664,631 51,499,609 51,788,146 54,809,740 



643,182 
215,898 
330,597 
4,536,857 
491,025 

924,812 
126,584 
431,551 
773,670 
762,366 

206,054 

208,128 

3,871,396 

1,489,451 
948,755 

677,835 
726,498 
663 ,422 
344,861 
950,502 

2,040,169 
2,707,237 
1,113,143 
293,580 
1,396,876 

213,085 
503,212 
72,909 
220,524 
2,061,056 

154,001 

6,537,319 

918,643 

201,465 

3,213,264 

625,258 
616,911 
4,193,136 
342,760 
454,974 

213,445 
795 ,462 
2,243,691 
232,765 
133,032 

918,801 
1,018,941 

611,357 

1,332,545 

96,535 



609,799 
201,375 

317,400 

4,332,029 

439 ,460 

904,255 
122,107 
418,468 
721,943 
753,773 

191,218 

192,884 

3,711,882 

1,426,205 

916,945 

637,397 
670,579 
639,996 
326,599 
918,281 

1,993,784 
2,444,609 
1,080,195 
288,542 
1,342,278 

203,050 

468,480 

71,079 

214,420 

2,028,646 

145,943 

6,343,055 

910,445 

188,034 
3,106,666 

593,569 
553,967 
4,127,644 
339,076 
402,279 

196,414 
755,103 
2,111,121 
224,578 
131,297 

861,239 

997,732 

573,963 

1,279,962 

90,191 



52,579,956 



605,871 
184,245 
310, 517 
4,033,251 
403,735 

837,399 
107,709 
386,412 
690,505 
751,585 

190,431 

180,578 

3,471,774 

1,338,572 

837,040 

638,076 
636,487 
635,463 
311,807 
873,857 

1,853,647 

2,273,737 

992,060 

298,510 

1,308,035 

185,907 

460,076 

65,174 

194,999 

1,981,047 

140,033 

6,063,750 

842,833 

175,955 

2,953,543 

571,795 
518,109 
3,872,854 
315,953 
400,838 

192,316 
695,825 
1,938,628 
214,341 
113,448 

817,140 

959,667 

545,803 

1,209,941 

82,206 



49,769,196 



Adjusted gross income (Thousand dollars) 



2,287,810 
1,028,023 
1,054,449 
20,100,403 
1,924,515 

3,901,967 
552,433 
1,566,677 
3,447,667 
3,040,741 

662,698 

685,693 

15,797,279 

5,865,932 

3,098,004 

2,556,360 

2,625,929 
2,515,010 
1,036,442 
4,716,487 

7,494,638 
10,847,652 
3,911,846 
1,012,679 
5,181,397 

« 784,291 

1,636,387 

365,899 

663,649 

8,855,507 

792,097 

26,946,431 

3,358,545 

591,704 
13,298,984 



2,247,438 

853,869 

1,075,003 

17,731,044 

1,800,684 

3,655,371 
603,774 
1,465,478 
3,068,460 
2,670,363 

653,248 

669,047 

15,291,223 

5,542,162 

3,057,144 

2,372,300 
2,389,652 
2,307,898 
924,022 
4,528,162 

6,882,364 
10,414,660 
3,508,219 
954,077 
4,889,219 

772,597 

1,648,425 

277,413 

657,231 

8,256,719 

696,934 

25,421,557 

3,150,874 

617,192 

12,579,855 



1,336,199 

747,759 

948,913 

15,558,376 

1,609,065 

3,219,023 
545,893 
1,418,045 
2,594,907 
2,308,074 

583,615 

580,309 

13,469,090 

4,815,972 

2,887,396 

2,075,564 
2,116,609 
2,079,747 
847,446 
3,817,212 

6,309,165 
9,204,619 
3,429,054 
820,156 
4,346,393 

694,052 

1,474,351 

257,323 

578,200 

7,307,069 

620,901 

22,977,615 

2,759,007 

549,467 

10,711,935 



1,634,742 

642,640 

859,742 

13,978,169 

1,454,809 

2,651,537 
448,332 
1,376,898 
2,263,498 
2,064,459 

540,858 

529,931 

12,510,306 

4,374,124 

2,735,521 

1,888,733 
1,829,511 
1,895,155 
781,219 
3,381,243 

5,912,113 
7,760,425 
2,993,559 
743,415 
4,152,012 

629,115 

1,356,295 

207,747 

515, 591 

5,453,503 

531,172 

21,202,910 

2,335,044 

565,172 

9,636,409 



1,679,746 

660,433 

808,796 

14,307,829 

1,333,092 

2,901,236 
435,791 
1,128,555 
2,184,306 
2,050,766 

586,944 

519,785 

12,959,004 

4,354,014 

2,736,718 

1,948,127 
1,934,941 
1,341,078 
825,415 
3,036,471 

5,949,833 
8,175,360 
3,071,555 
743, 541 
3,784,449 

564,243 

1,402,937 

217,275 

565,176 

6,628,354 

472,944 

21,437, 14« 

2,359,574 

610,211 

10,095,564 



1,523,984 

554,075 

753,538 

13,248,199 

1,285,366 

2,683,657 
402,502 
1,276,150 
1,979,727 
1,834,569 

585,771 

485,631 

11,839,400 

3,970,316 

2,573,459 

1,329,340 
1,754,365 
1,652,196 
746,701 
2,694,318 

5,324,044 
7,380,259 
2,936,788 
573,561 
3,602,099 

593,367 

1,348,932 

229,935 

506,288 

6,036,430 

391,122 

20,015,459 

2,098,719 

546,809 

9,053,107 



1,322,550 

490,704 

671,122 

12,420,324 

1,062,470 

2,409,761 
369,826 
1,153,335 
1,925,713 
1,794,224 

477,568 

443,830 

10,314,057 

3,459,664 

2,153,414 

1,502,964 
1,453,125 
1,435,555 
670,226 
2,412,911 

5,008,554 
6,332,542 
2,448,952 
602,284 
3,217,094 

490,014 

1,U3,031 

212,170 

457,343 

5,523,596 

343,841 

13,577,158 

1,946,057 

437,914 

7,994,638 



1,210,859 

426,052 

592,339 

10,939,863 

949,265 

2,178,897 

299,012 

993,047 

1,669,373 

1,546,107 

522,070 

376,559 

9,026,694 

3,160,005 

1,775,146 

1,348,436 
1,294,558 
1,360,598 
618,253 
2,148,457 

4,594,761 
5,748,698 
2,145,778 
570,858 
2,820,759 

409,214 
980,087 
177,485 
392,882 
5,225,042 

294,776 

16,815,795 

1,623,537 

350,589 

7,287,283 



572,002 
160,413 
294,518 
3,935,568 
350,109 

822,010 
118,873 
373,654 
619,844 
682,259 

172,862 

163,567 

3,231,341 

1,294,198 

782,428 

608,969 
602,755 
603,200 
288,359 
857,185 

1,784,053 

2,215,631 

897,451 

261,509 

1,199,251 

167,008 

415,774 

55,601 

184,451 

1,829,218 

122,992 

5,599,607 

761,239 

160,511 

2,874,184 

500,026 
488,183 
3,598,731 
297,295 
372,504 

159,583 
694,233 
1,947,800 
194,344 
105,967 

775,479 

896,870 

480,479 

1,105,294 

78,948 



46,919,590 



1,135,411 

384,422 

581,338 

10,649,860 

824,968 

2,325,383 

339, 2tA 

955,456 

1,534,019 

1,421,316 

476,099 

351,037 

8,702,045 

3,144,033 

1,563,934 

1,360,382 
1,228,999 
1,318,078 
603,138 
2,211,779 

4,466,782 
6,237,593 
1,890,737 
523,396 
2,723,663 

373,508 
860,093 
154,191 
369,059 
4,955,529 

245,781 

15,653,778 

1,483,498 

332,683 

7,474,899 



60 



INDIVIDUAL INCOME TAX RETURNS, 1944-1952 



T>ble 19.— mjMBER OF RETURNS, ADJUSTED OROgS INCOME, AND INCOME TAX, BY STATES AND TERRITORSS, 1M4-1952— Continued 

(Returns with adjusted gross income) 



States and Territories 



Adjusted gross income — Continued (Thousand doIlBra) 



Oklahoma 

Oregon 

Pennsylvania 

Rhode Island 

South Carolina 

South Dakota 

Tennessee 

Texas 

Utah 

Vermont 

Virginia 

Washington^ 

West Virginia 

Wisconsin 

Wyoming 

Total 

Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia 

Florida 

Georgia 

Hawaii 

Idaho 

Illihois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Ualne 

Maryland ^ 

Uassachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

Montana 

Nebraska ' 

Nevada 

New Hampshire 

New Jersey 

New Mexico 

New York^ 

North Carolina 

North Dakota 

Ohio 

Oilahoma 

Oregon 

Pennsylvania 

Rhode Island 

South Carolina 

South Dakota 

Tennessee 

Texas 

Utah 

Vermont 

Virginia 

Washington' 

West Virginia 

Wisconsin 

Wyoming 

Total 



2,259,852 

2,316,087 

15,877,555 

1,183,436 

1,7U,230 

600,<177 

2,828,368 

9,297,753 

909,692 

387,605 

3,721,293 
3,963,940 

2,065,157 

4,985,584 

412,350 



2,209,293 
2,228,677 
15,140,296 
1,130,209 
1,500,042 

626,089 

2,690,510 

8,793,470 

847,179 

384,539 

3,271,159 
3,789,088 
1,837,849 
4,706,494 
399,292 



1,925,065 
2,004,899 
13,420,151 
1,055,155 
1,306,858 

557,868 

2,376,817 

7,874,215 

712,171 

352,663 

2,927,108 
3,254,719 
1,727,911 
4,116,769 
353,090 



1,7U,487 
1,781,983 
12,094,363 
902,320 
1,114,879 

540,617 

2,155,940 

6,863,925 

630,231 

307,216 

2,606,750 
2,949,863 
1,620,262 
3,764,843 
327,108 



1,719,212 
1,835,879 
12,656,320 
1,025,377 
1,056,583 

596,537 

2,041,261 

6,482,687 

653,441 

331,730 

2,568,408 
2,970,439 
1,730,289 
3,802,274 
320,222 



216,939,912 203,338,874 180,064,994 162,209,696 164,272,520 150,326,429 134,232,475 120,183,733 



1,529,733 

1,664,988 

11,303,195 

919,538 

1,028,441 

545,223 

1,865,052 

5,850,745 

601,185 

292,559 

2,271,229 
2,804,714 
1,539,024 
3,392,629 
281,391 



1,336,871 

1,454,819 

10,074,916 

824,923 

872,048 

437,344 

1,675,853 

5,131,712 

518,138 

257,371 

1,948,521 
2,495,847 
1,254,981 
3,003,996 
226,444 



1,211,284 

1,314,582 

9,187,829 

742,636 

765,464 

347,498 

1,413,075 

4,492,619 

474,067 

214,858 

1,709,765 
2,329,276 
1,143,302 
2,713,484 
193,750 



1,115,362 

1,308,151 

9,107,768 

730,029 

691,338 

277,578 

1,406,248 

4,351,859 

457,892 

205,539 

1,709,021 
2,301,808 
1,072,958 
2,460,891 
197,078 



116,406,018 



Income tax liability (after credits) (Thouaand dollara) 



231,192 
128,813 
100,262 
2,761,782 
250,542 

593,247 
124,124 
249,113 
408,481 
340,067 

80,683 
77,978 
2,215,931 
710,958 
331,511 

306,250 
285,662 
310,305 
110,076 
596,218 

980,446 

1,470,551 

457,051 

97,146 

681,645 

90,524 

183,130 

52,654 

72,411 

1,166,757 

94,464 

3,656,252 

327,289 

53,426 
1,794,080 

267,793 
302,123 
2,055,379 
152,007 
177,746 

56,670 

300,640 

1,222,734 

92,647 

37,008 

427,054 
530,356 
219,542 
605,472 
51,524 



27,889,716 



211,212 

97,987 

95,093 

2,320,749 

209,202 

499,452 
113,465 
205,066 
347,360 
270,254 

72,761 

64,198 

2,000,619 

628,066 

304,513 

248,899 
232,064 
254,285 
86,170 
512,850 

830,396 

1,287,949 

373,824 

86,585 

581,951 

84,505 
177,406 
39,455 
66,059 
998,203 

77,542 

3,315,250 

238,634 

56,000 
1,550,625 

230,307 
273,303 
1,797,449 
133,096 
135,665 

54,347 

271,546 

1,102,785 

75,732 

34,380 

346,541 
472,971 
168,267 
524,133 
48,911 



24,268,092 



148,496 

74,810 

74,320 

1,739,734 

160,012 

379,930 
110,057 
170,054 
254,167 
192,170 

54,964 

44,927 

1,511,346 

449,731 

247,277 

191,037 
178,429 
201,705 
65,225 
367,626 

650,438 
968,137 
299,539 
66,758 
433,202 

63,894 

135,422 

32,262 

49,158 

742,887 

57,740 

2,626,329 

218,691 

41,173 
1,037,976 

130,553 
205,952 
1,344,389 
109,031 
101,903 

40,509 

210,346 

382,519 

53,033 

26,871 

253,349 
335,349 
132,030 
334,750 
34,327 



18,389,534 



116,224 

50,452 

57,636 

1,373,923 

128,524 

267,465 
77,209 
141,467 
133,663 
161,959 

47,120 

39,354 

1,226,823 

371,821 

207,742 

155,623 
132,687 
167,711 
56,381 
290,284 

518,417 
700,399 
238,292 
53,677 
351,445 

51,468 

109,937 

22,506 

38,463 

590,326 

45,204 
2,137,040 
165,390 
37,986 
879,644 

136,048 
162,938 
1,073,079 
78,973 
75,146 

36,833 

158,539 

673,388 

42,750 

21,774 

203,112 
271,847 
109,570 
308,583 
28,461 



14,530,8 



121,400 

55,947 

63,375 

1,483,005 

124,155 

309,598 
72,369 
124,884 
192,187 
161,964 

57,618 

38,408 

1,344,371 

374,331 

216,959 

173,592 
146,904 
170,322 
59,554 
279,053 

543,751 
752,115 
267,983 
56,054 
347,794 

56,269 
121,768 
25,796 
42,075 
615,496 

40,598 

2,265,751 

177,614 

47,331 
949,747 

153,119 

179,862 

1,145,176 

101,231 

72,509 

45,329 
156,520 
684,526 
43,439 
23,562 

205,210 
290,582 
128,794 
313,840 
29,863 



15,459,810 



147,828 

59,622 

72,768 

1,744,077 

150,660 

358,789 
73,909 
167,712 
233,665 
203,838 

69,937 

49,056 

1,578,607 

446,091 

284,944 

204,776 
178,268 
179,684 
71,607 
314,292 

639,978 
837,662 
321,326 
66,656 
426,254 

66,661 

154,795 

30,688 

53,480 

720,213 

42,038 

2,702,269 

201,703 

57,856 

1,079,062 

154,120 
202,530 
1,340,319 
112,729 
90,511 

59,443 

194,432 

721,707 

54,193 

28,439 

240,012 
338,268 
150,398 
373,185 
32,328 



18,084,435 



129,357 

51,344 

68,731 

1,668,781 

124,269 

317,098 
66,868 
153,100 
252,429 
192,835 

53,163 

41,454 

1,342,554 

372,151 

216,778 

156,244 
144,358 
159,774 
64,681 
280,951 

599,115 

712,355 

257,035 

58,709 

371,454 

52,176 
124,482 
30,962 
46,751 
651,721 

35,234 

2,613,096 

190,630 

39,533 
925,026 

125,451 
181,582 
1,143,927 
100,905 
80,312 

40,141 
181,932 
619,742 
47,016 
22,593 

203,099 
294,91J 
112,489 
317,496 
23,996 



16,062,353 



134,976 

55,000 

63,215 

1,764,266 

131,725 

341,245 
62,637 
158,284 
256,002 
186,306 

84,330 

41,438 

1,359,845 

404,739 

209,777 

165,636 
145,151 
171,090 
72,621 
301,693 

665,426 
804,959 
273,639 
63,495 
378,768 

48,520 
123,919 
30,566 
47,393 
737,972 

34,344 

2,743,072 

181,173 

36,705 
1,015,220 

137,486 

193,654 

1,275,957 

108,643 

78,998 

34,801 

173,534 

609,637 

51,630 

24,229 

210,710 
328,913 
113,312 
337,027 
25,603 



17,005,431 



130,232 

48,930 

65,437 

1,544,444 

110,086 

364,464 
68,106 
151,273 
222,794 
177,956 

72,651 

37,034 

1,297,781 

402,950 

190,061 

163,259 
134,683 
167,444 
69,985 
310,388 

624,644 
909,432 
237,630 
59,698 
357,419 

43,542 
97, 5U 
25,419 
39,289 
703,308 

23,433 

2,435,681 

163,057 

32,356 
1,035,280 

133,151 

190,522 

1,228,122 

103,401 

64,716 

25,124 
159,812 
559,973 
49,717 
21,791 

208,124 
331,918 
112,127 
300,865 
26,006 



16,034,025 



^Data for 1952 not comparable with that for prior years for two reasons. First, Puerto Rican 1952 returns filed in Baltimore during the first-half of 1953 are included in 
Maryland data; but fMerto Rican returns filed in New York City during the last-half of 1953 are included in New York data. For years prior to 1952, Puerto Rican returns are 
included exclusively in Maryland data. Secondly, for years prior to 1952, overseas servicemen's returns were filed exclusively in Baltijnore and are included in Maryland data. 
1952, such returns were filed in directors' offices of the various Slates and are included in the data for the respective States. 

^Data for 1952 not comparable with that for prior years; includes for the first time Puerto Rican returns <"iled in New York City during the last-half of 1953. 

'includes Alaska. 



Fiduciary 

Income Tax 

Returns 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



MAJOR CHARACTERISTICS OF 1952 

A total of 422,663 fiduciary income tax returns were 
filed for the income of estates and of property held in 
trust for the income year 1952, more than two-thirds of 
which are nontaxable. Not since 1939 have statistics 
been tabulated from nontaxable returns. Income from 
property held in trust is reported on 301,507 of these 
fiduciary returns and income of estates is reported on the 
remaining 121,156 returns. 

Total income for all fiduciary returns is $2.8 billion, 
slightly over half being reported on nontaxable returns. 
Fifty-nine percent, or $1.6 billion, of the total income is 
from dividends and more than one-half of the dividend 
income is reported on nontaxable returns. Other im- 
portant sources of income are interest, rents and royalties, 
and capital gains, each contributing about $0.3 billion. 
Seventy-three percent of all returns have less than $5,000 
total income. 



COMPOSITION OF TOTAL INCOME. 1952 


RENTS AND ROYALTIES^ 


1 




"^^^.^ 


'''wM. \ 


\ 




DIVIDENDS 
59% 


GAIN FROM 10. y^ 
SALE OF ASbEIS y^ 


/ 




1 


xy"^ ^'* / 






J 


OTHER INCOME / 






^ 


TOTAL INCOME 


(net) 


%2 


8 Bl LLION 



In the chart above, each component part of total in- 
come for fiduciary returns represents the portion which 
the combined amount of net profit and net loss from the 
specified source is of the total income less total deficit. 
In the case of dividends and interest there is no loss. 
Gain from sale of assets includes the net gain and net loss 
from sales of capital assets and from property otlier tiian 
capital assets. Other income is a combination of the 
business net profit and loss, partnership net profit and 
loss, income from otlier fiduciaries, and miscellaneous 
income. 



Fiduciary income, primarily from investments, is 
weighted with income from corporate stock holdings, the 
dividends from which comprise the largest segment of 
fiduciary income. Income from rental property together 
with royalties received is somewhat greater than the 
interest income. These two sources of income along with 
the gain from sale of property account for one-third of 
the fiduciary income. The largest single contributing 
factor in the segment for other income is partnership 
profit. 

Returns for trusts predominate as stated above; and 
of the $2.8 billion total income, $2.3 billion are reported 
on returns for trusts while only $0.5 billion are reported 
on returns for estates. Seventy-five percent of the in- 
come of trusts is distributable to beneficiaries but only 
43 percent of income of estates is distributable. Dis- 
tributable amounts are reported on approximately 300 
thousand returns, 242 thousand of which are nontaxable 
to the fiduciary. 

There are 132,927 taxable fiduciary returns. This is 
an increase of 16,717 returns over the number filed for 
1951. The total income reported on the 1952 taxable 
returns is $1.3 billion, which is an increase of $105 million, 
or 9 percent, over the total income on taxable returns last 
year. Current year deductions of $114 million and the 
$567 million distributable to beneficiaries reduce the total 
income for 1952 to $627 million net income taxable to 
fiduciary, which mcome after exemptions of $36 million 
yielded income tax of $235 million. The increase in tax 
over last year is $24 million, or 11)^ percent. 

The total income tax liability of $235 million consists 
of $144 million normal tax and surtax and $91 million 
alternative tax. The alternative tax is reported on 2,835 
returns with net income taxable to fiduciary of $169 mil- 
lion which includes $93 million of capital gain; however, 
the special rate of 26 percent is applied to approximately 
$185 million of excess net long-term capital gain over tlie 
net short-term capital loss. 

Of the 132,927 taxable returns, 87,301 are returns for 
trusts and 45,626 are returns for estates. The returns 
for trusts show net income taxable to fiduciary of $397 
million, exemptions of $9 million, and income tax liability 
of $156 million; while the returns for estates show net 
income taxable to the fiduciary of $230 million, exemptions 
of $27 million, and income tax liability of $79 million. 

INCOME TAX PROVISIONS FOR FIDUCIARY 
INCOME 

Every fiduciary, or one of joint fiduciaries, is required 
to file an income tax return. Form 1041, for every estate 
for which he acts, if the gross income of the estate is $600 

63 



64 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



or more or if any beneficiary of the estate is a nonresident 
alien, and for every trust for which he acts, if the net 
income of the trust is $100 or more, or if the gross income is 
$600 or more regardless of the amount of net income, or 
if any beneficiary of the trust is a nonresident ahen. 

Supplement E of the 1939 Code provides that the taxes 
imposed upon the income of individuals by chapter 1, 
other than the self-employment tax, shall be apphcable 
to the income of estates and to the income from property 
held in trust. The tax rates, the provisions respecting 
gross income to be reported, the deductions with certain 
exceptions, and the tax credits provided for the income of 
individuals apply also to the income of estates and trusts. 

The gross income to be reported includes the entire 
taxable income of the estate or trust even though a por- 
tion, or all, of the income is distributable to beneficiaries. 
In general, net income of an estate or trust is computed 
in the same manner as that of an individual, except that 
the deduction for contributions is not limited in amount 
and there is an additional deduction for the amount 
distributable to beneficiaries. Credit is allowed against 
net income taxable to fiduciary for his share of partially 
tax-exempt Government interest for purpose of normal 
tax, and there is an exemption of $600 for estates and of 
$100 for trusts for purposes of both normal tax and surtax. 

The tax liability is based on the net income taxable to 
fiduciary less the exemption, and must be paid by the 
fiduciary after the close ot the taxable year. Current 
collection of tax does not apply to fiduciary income. The 
normal tax and surtax rates are the same as those for a 
single individual who is not head of household. Tax 
credits are allowed for the fiduciary's share of income tax 
paid to a foreign country or possession of the United 
States and of income tax paid at source on tax-free cove- 
nant bond interest. 

A synopsis of the filing requu-ements, exemptions, and 
tax rates for 1944-1952 is presented in tables A and 
B, pages 89-90. 

RETURNS INCLUDED 

Statistics for fiduciary income tax returns are taken 
from the returns. Form 1041, as filed by the fiduciary, 
before changes or revisions in values that may be made 
upon official audit by the Internal Revenue Service, and 
do not reflect the results thereof. These statistics present 
a complete coverage of all fiduciary returns filed for the 
income year 1952, both taxable and nontaxable returns. 
This is the first time in many years that the tabulated 
data have included those from nontaxable returns. 

Returns for the income year 1952 include those for the 
calendar year, a fiscal year ending within the period 
July 1952 through June 1953, and a part year return 
showing a greater number of months in 1952. Tentative 
returns are not included and amended returns are used 
only when the original returns are excluded. A facsimile 
of the fiduciary income tax return. Form 1041, is shown 
on pa{?es 119-l-2(). 



EXPLANATION OF CLASSIFICATIONS AND 
TERMS 

Classification of Fiduciary Returns 

Fiduciary returns are classified by total income classes, 
by net income classes, by taxable and nontaxable 
returns, by types of tax, and by States and Territories; 
also, returns for income of trusts are distinguished from 
returns for income of estates. Various items are tabu- 
lated by these classifications but not all items are available 
for every classification. 

Total income classes.' — Returns are segregated into 
total income classes based on the amount of total income 
reported on each return. The class intervals are broader 
than those used in prior years; however, the intervals 
coincide with the adjusted gross income class intervals 
for individual returns in tables of this report. Returns 
showing a deficit in total income, regardless of amount, 
returns with a breakeven in total income, and returns 
without information are designated "No total income" 
and appear in aggregate under nontaxable returns. 

Net income classes.- — The amount of net income taxable 
to fiduciary provides the basis for this classification. 
Returns with net deficit regardless of amount, returns with 
breakeven in net income, and returns with no information 
are designated "No net income" and appear as a separate 
class. The net income class intervals are broader than 
in previous years, thereby reducing the number of classes. 

Taxable and nontaxable returns.' — This classification is 
based on the existence or nonexistence of a tax liability 
after tax credits. Taxable returns are those which have 
net income taxable to fiduciary in excess of the allowable 
exemption and which also have a tax liability remaining 
after the two tax credits relating to income tax paid at 
source on interest from tax-free covenant bonds and to 
income tax paid to a foreign country or possession of the 
United States. Nontaxable returns are those that show 
a deficit or a breakeven in total income, returns without 
information, and returns showing total income which 
when reduced by authorized deductions and exemption 
leaves no income to be taxed, or in case of a tax, the tax 
credits eliminate the tax. 

Types of fax liability.- — Returns with normal tax and 
surtax are distinguished from returns with alternative 
tax. Returns with normal tax and surtax are the taxable 
returns with no sales of capital assets, those with net loss 
from sales of capital assets, and those with net gain from 
such sales unless the alternative tax is imposed. Returns 
with alternative tax are those which have income that 
includes a net long-term capital gain or an excess of net 
long-term capital gain over net short-term capital loss 
and the alternative tax is less than the regular normal tax 
and surtax on income which includes all gains from sales 
of capital assets. 

Returns for trusts and for estates. — This classification 
is based on the fact that certain fiduciary returns are 
filed for the income from property held in trust and other 



FIDITCIARY INCOME TAX RETURNS FOR 1952 



65 



fiduciary returns are filed for the income of an estate under 
administration. 

States and Territories. — This distribution consists of 
the 48 States, Hawaii, and the District of Columbia. 
The segregation of returns on the basis of States and 
Territories is determined by the location of the internal 
revenue district in which the return is filed, except that 
for the District of Columbia, which comprises a part of 
the district of Maryland, the segregation is determined 
from the address of the fiduciary. The Territory of 
Alaska comprises a part of the internal revenue district of 
Washington and returns from Alaska are included in that 
district. 

Sources Comprising Total Income 

The items of income, profit, and loss which comprise 
total income (or deficit) are the net amounts from the 
respective sources. Expenses of doing business have been 
deducted in the case of business, rents, and partnerships. 
Loss from sale of capital assets is only the allowable de- 
duction; gain from sale of capital assets is the statutory 
amount to be reported in income. 

Dividends include foreign and domestic dividends 
received, except those received through partnerships and 
other fiduciaries, these being reported in the respective 
sources. 

Interest received is that on bank deposits, notes, cor- 
poration bonds, and mortgages, and the taxable and par- 
tially tax-exempt interest on Government obligations in- 
cluding such interest received through partnerships and 
other fiduciaries. 

Rents and royalties net profit is the amount reported 
on returns showing a combined net profit from these two 
sources of income. Rents and royalties are reported in 
the same schedule and the separate incomes are not avail- 
able. Gross rents include rent from real estate and any 
other kind of property; gross royalties include revenue 
from copyrights, patents, natural resources under lease, 
and the like. Deductions against gross receipts are al- 
lowed for taxes, interest, repairs, depreciation, depletion, 
and other expenses pertaining to the respective incomes. 
A net loss from one source offsets net profit of the other. 
The amount included in total income is the net profit 
resulting from the combined rents and royalties incomes. 

Rents and royalties net loss is the amount reported on 
returns that show a net loss from the combination of the 
two sources. Gross rents and royalties and the allowable 
deductions are mentioned in the paragraph above. A net 
profit from one source offsets net loss of the other; the 
separate amounts cannot be obtained. The net loss 
reported in total income is the net result of these two 
activities. 

Trade or business net profit is the net result of all trade 
and business in which the estate or trust is engaged, the 
combined result of which is a net profit. If tliere is a 
net loss from one activity, the loss is combined with the 
net profits of the others and the remaining net profit is 
reported in total income. 



Business expenses are allowed against the gross receipts 
from business for the cost of goods sold, employees' 
salaries, interest, taxes, rent, repairs, depreciation, deple- 
tion, bad debts, and other direct operating costs. (Net 
operating loss deduction is not a business deduction, but 
is an allowable authorized deduction from total income.) 

Trade or business net loss is the net result of all trade 
and business activities in which the estate or trust is en- 
gaged, the combined result of which is a net loss. In 
case there is a net profit from one of several activities, 
the profit is combined with the losses of the others and 
the remaining net loss is reported in total income. Allow- 
able business deductions are mentioned in the preceding 
paragraph. 

Partnership net profit is the estate's or trust's share of 
net profit (whether received or not) from all partnerships, 
syndicates, pools, etc., in which the estate or trust is a 
participant, the combined result of which is a net profit. 
However, the distributive share of partnership profit re- 
ported excludes taxable and partially tax-exempt Govern- 
ment interest and the net gain or loss from sales of capital 
assets, each being reported in its respective source. 

Partnership net loss is the estate's or trust's share of 
net loss (whether received or not) from all partnerships, 
syndicates, pools, etc., in which the estate or trust par- 
ticipates, the combined result of which is a net loss. 
However, the distributive share of net loss reported ex- 
cludes taxable and partially tax-exempt interest on Gov- 
ernment obligations and the net gain or loss from sales of 
capital assets, each of which is reported in its respective 
income. 

Net gain from sales of capital assets is the statutory 
net gain from sales or exchanges of such assets, required 
to be reported in total income. It is a combination of 
net short-term capital gain or loss (including the capital 
loss carryover from the 5 preceding years) and net long- 
term capital gain or loss (such gains and losses taken into 
account at 100 percent) ; however, in cases where the net 
long-term capital gain exceeds the net short-term capital 
loss, only 50 percent of the excess gain is included in 
total income. If the net short-term capital gain exceeds 
the net long-term capital loss, the entire amount of the 
excess gain is reported in total income. This is in accord- 
ance with the new provisions of the 1951 act. 

Short-term applies to sales of capital assets held 6 
months or less and such gains and losses, together with 
the capital loss carryover, are merged to obtain the net 
short-term capital gain or loss. In determining the amount 
of net short-term gain or loss, the short-term gains and 
losses from partnerships are also included. 

Long-term applies to gains and losses from sales of capi- 
tal assets held more than 6 months and such gains and 
losses, taken into account at 100 percent, are merged to 
determine the net long-term capital gain or loss which 
also includes the net long-term capital gain or loss re- 
ceived through partnerships. 

Net loss from sales of capital assets reported in total 
income is the allowable loss from sales or exchanges of 



66 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



capital assets which is deductible in computing net income. 
If the sum of all capital losses (including the capital loss 
carryover from the 5 preceding years) exceeds the sum of 
all capital gains (both short- and long-term gains and 
losses taken into account at 100 percent) then the excess 
capital loss is allowed as a deduction only to the extent of 
the capital loss, or net income computed without regard 
to capital gains and losses, or $1,000, whichever is smallest. 
This is the new method provided under the 1951 act. 
Returns are not examined to ascertain whether or not the 
deduction complies with the limitation and there may be 
instances where the deduction exceeds the limit. Short- 
and long-term capital gains and losses are explained above. 

Capital loss carryover reported as a short-term capital 
loss on 1952 returns is the remaining net capital loss not 
allowed as a deduction in the 5 preceding years. The net 
capital loss sustained in 1952, to be used as a future 
carryover, is not reported as an item on the return; it is 
the excess of current year capital losses (at 100 percent) 
over the sum of (I) current year capital gains (at 100 
percent) and (2) the smaller of $1,000 or net income for 
the current j'ear computed without regard to capital 
gains and losses. The net capital loss is carried forward 
as a short-term capital loss in the 5 succeeding years to 
the extent not eliminated in the interim. 

Net gain from sales of property other than capital assets 
is the net gain reported in total income on returns wherein 
the gains exceed the losses from sales or exchanges of 
property which is not considered a capital asset. There 
is no reduction in this net gain as compared with that of 
the excess long-term capital gain. 

Net loss from sales of property other than capital assets 
is compiled from returns with an excess of losses over gains 
from sales or exchanges of property that is not considered 
a capital asset. Net loss from this source is deductible in 
full for the computation of total income. 

Income from other fiduciaries is the estate's or trust's 
share, as beneficiary, of the distributable income (whether 
actually received or not) from another estate or trust. 
In entering this income, however, the fiduciary must 
exclude taxable and partially tax-exempt interest on 
Government obligations and report it with interest income. 

Miscellaneous income includes taxable income from 
sources other than those tabulated. 

Deductions 

Interest paid is that paid or accrued on debts, mort- 
gages, and bank loans; it excludes interest reported in 
schedules for rents and business, and interest on indebted- 
ness incurred to purchase a single-premium life insurance 
or endowment contract, or securities yielding wholly 
tax-exempt income. 

Taxes paid during the year include State and local 
income taxes, real estate taxes except those assessed 
against local benefits which tend to increase the value of 
property assessed. Taxes paid to a foreign country or 
possession of the United States are not allowed as a de- 



duction if a foreign tax credit is claimed. Taxes on 
rented property and business operations are reported in 
those schedules. 

Miscellaneous deductions are the authorized deductions 
other than interest and taxes; they include bad debts, 
net operating loss deduction, losses from fire, storm, ship- 
wreck, or other casualty, or from theft which are not 
compensated for by insurance or otherwise, and expenses 
incurred for the production of taxable income or for the 
management and maintenance of property held for the 
production of taxable income. 

Measures of Fiduciary Income 

Total income of an estate or trust is a combination of 
the net profit and loss from rents and royalties, trade or 
business, and partnerships, the statutory gain from sales 
of capital assets and other property, and the deductible 
loss from sales of capital assets and other property, 
together with the income from dividends, interest, other 
fiduciaries, and miscellaneous income reported on each 
return. (Total income is an approximation of the adjusted 
gross income on individual returns.) 

Total deficit occiu's on a return for an estate or trust if 
the net losses from rents and royalties, business, and 
partnerships, and the deductible losses from sales of 
capital assets and other property exceed the positive 
items of income. 

Balance income is reported on returns witli an excess of 
total income over authorized deductions, such as inter- 
est, taxes, and casualty losses. It is the amount avail- 
able for payment of income tax and for distribution to 
beneficiaries or for accumulation, according to the trust 
instrument in the case of a trust or the directives of the 
will or the jurisdictional court in the case of an estate. 

Balance deficit exists on returns where the authorized 
deductions for interest, taxes, etc., exceed the total 
income, also, where there is a deficit in total income which 
deficit is increased by deductions if reported. 

Net income taxable to fiduciary is the amount of income 
for the current year that remains in the hands of the 
fiduciary after allowable deductions and setting aside 
the amount distributable to beneficiaries. This net in- 
come, reduced by credits for partially tax-exempt income 
and exemption, is the basis for the tax liability of the 
fiduciary. 

Net deficit occurs on returns that have (1) deficit in 
total income which deficit is increased by deductions and 
amount distributable to beneficiaries (if any), or (2) total 
income which when reduced by deductions and/or amount 
distributable to beneficiaries results in a net deficit. 

Amount Distributable and Exemptions 

Amount distributable to beneficiaries is the amount 
allotted to the beneficiaries, whether distributed or not. 
It is the total amount which, pursuant to the terms of the 
will (or court) or of the instrument creating the trust, is 
paid to, or set aside for, or becomes payable to, legatees, 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



67 



heirs, and beneficiaries. Charitable and similar organi- 
zations are beneficiaries as well as individuals. Many 
returns show that the entire balance income is distribut- 
able. On some returns, the amount distributable to 
beneficiaries is greater than the balance income; on others, 
there is an amount distributable even though a balance 
deficit is reported. This is probably due to the fact that 
the amount distributable includes income not required 
to be reported for income tax purposes, such as wholly 
tax-exempt interest, 50 percent of the excess of net long- 
term capital 'gain over net short-term capital loss, and 
other differences arising from the variations between 
income tax provisions and accounting procedures under 
the trust instrument in the case of a trust or under the 
local judicial requirements in the case of an estate. 

Exemption is allowed against net income taxable to 
fiduciary for purposes of both normal tax and surtax. 
In the case of an estate, the exemption is $600 and, in the 
case of a trust, the exemption is $100. 

Tax Liability 

Tax liability is the amount of income tax payable after 
the two tax credits allowed for income tax paid at source 
on interest from tax-free covenant bonds and for income 
tax paid to a foreign country or possession of the United 
States. This is the combined normal tax and surtax or 
the alternative tax on income containing an excess of 
long-term capital gain. 

Normal tax and surtax are not tabulated separately. 
The combined rates begin at 22.2 percent of the first 
$2,000 of income subject to tax in the hands of the fidu- 
ciary and increase to 92 percent of income in excess of 
$200,000. 

Alternative tax on income that includes net long-term 
capital gain or an excess of net long-term capital gain over 
net short-term capital loss is payable only if this tax is 
less than the regular normal tax and surtax. The al- 
ternative tax is computed in the same manner as for 
individual income and is not effective on returns with 
surtax net income under $14,000. 

DESCRIPTION OF SAMPLE AND LIMITATIONS 
OF DATA 

Sample design. — Data presented for fiduciary income 
tax returns for 1952 are based on a probability sample 
selected from returns with total income under $30,000, 
and from a complete coverage of returns with total income 
$30,000 or more. Over 54,000 returns were selected 
from nearly 423,000 fiduciary income tax returns in the 
population. 

Nontaxable returns with total income under $30,000 
were sampled in each district director's office. Within 
each district director's office these returns were assigned 
consecutive serial numbers as a part of the regular returns 
processing operation. A systematic sample was selected 



by withdrawing return number 7 and every 9th return 
thereafter. This sample, which was approximately an 
eleven percent sample, was selected from a population of 
nearly 283,000 returns. 

Taxable returns with total income under $30,000 were 
sampled at a ten percent rate in Washington. This 
sample was selected from a population of over 125,000 
returns, and was stratified as follows: 

Taxable returns with total income under $30,000 

a. Taxable assessable — fully paid 

b. Taxable assessable — insufficient or no payment 

c. Taxable assessable — installment privilege 

Taxable and nontaxable returns with total income of 
$30,000 or more were selected one hundred percent. This 
area accounts for over 14,000 returns. 

Weighting of the sample. — The primary source of 
population data were statements submitted by the district 
directors' offices showing the number of Form 1041 returns 
filed for tax year 1952. 

Separate systems of weighting were used for the national 
tabulations and for the State tabulations; the weights for 
the national tabulations were based on nationwide stratum 
populations obtained by summing the stratum populations 
reported by the district directors' offices. The separate 
district office stratum populations provided the basis for 
independent district office weights for the State tabula- 
tions. Actual sampling rates varied enough between 
districts to warrant using two separate systems of weights. 

As the result of using two weighting systems and 
rounded weighting factors, there exist slight discrepancies 
between items distributed by States in table 8, and 
corresponding items shown in the national tables. 

Sampling variability. —Data present?d for taxable and 
nontaxable returns with total income under $30,000 are 
subject to sampling error. A range of 2 standard errors 
was used in computing the possible variation of an estimate 
due to sampling error. Chances are 19 out of 20 that an 
estimate and the actual figure that would have been 
obtained had all returns been counted is less than the 
percentage shown in the table which follows. For 
example, the table shows that 19 out of 20 times an 
estimate shown of 5,000 returns with total income under 
$30,000 will have a maximum sampling variability of 
+ or —9 percent. 

This table, vvhicli shows the relative error of estimates, 
applies to number of returns only. Specific consideration 
was not given to associated money amounts. Frequencies 
which were subject to a maximum sampling variability of 
more than one hundred percent and associated data are 
not shown separately since they are considered too un- 
reliable for general use; they are, however, included in 
the totals. 

Tlie sampling variability of the estimate presented in 
table 3, has not been determined. Since no sampling 
controls were instituted with respect to net income, and 
frequencies are not associated with the amounts of income 



68 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



and deductions shown, there may be considerable sampHng 
error in the data shown on this table. 

RELATIVE ERROR OF ESTIMATED NUMBER OF RETURNS 
WITH TOTAL INCOME UNDER $30,000 



Estimated number 


of 


retvrns 


Relative 


error in percent 


50 








±90 


100 








±64 


500 








±29 


1,000 








±20 


5,000 








±9 


10, 000 








±6 



Nonsampling errors. — In addition to sampling error, 
the data are subject to certain nonsampling errors. The 
nonsampling errors are the result of: (1) the use of un- 
audited tax returns as the basis for the data, resulting in 
underreporting and nonreporting of certain income items 
and overreporting of certain deduction items by the 
taxpayer, (2) errors made in sample selection, (3) errors 
resulting from the exclusion of late sample returns from 
the study, (4) errors in coverage, and (5) errors made in 
processing the data. 

Sampling errors are controllable through the design and 
size of the sample ; nonsampling errors are more difficult to 
control. There are no accurate measurements by which 
to evaluate the magnitude of the nonsampling error, but 
there is some evidence that in many cases the sampling 
error is the lesser of the two. 

TABULATED DATA 

Data for fiduciary returns are tabulated as nearly as 
possible to conform with tabulations for individual returns 
in this report ; however, in view of the fact that there are 
different features on the two returns and variations in the 
method of reporting certain items common to both forms, 
the two series are not precisely comparable. 

Data for the 1952 fiduciary returns are presented in 8 
basic tables. In all but two of these tables, data are 
distributed by total income classes. Total income, being 
similar in concept to the adjusted gross income on indi- 
vidual returns, supplies a basis for classification whereby 
data for fiduciary returns may be associated with that 
for individual returns, bearing in mind the diversity of 
the two series. Taxable and nontaxable returns are 
shown separately except in tables 1 and 8. 

In table 1, the number of fiduciary returns, amount of 
total income, and tax liability are tabulated to show the 
distribution by total income classes, as well as the cumu- 



lation at each income class level from the lowest class 
and at each income class level from the highest class, 
together with corresponding percentages of the total. 
Taxable and nontaxable returns are combined except 
that returns with no total income are shown apart from 
the cumulations. 

Table 2 presents the amount of each source of income or 
loss comprising total income, the deductions, balance 
income, amount distributable to beneficiaries, net income 
taxable to fiduciary, exemption, and tax liability. This 
table also gives the frequency distributions of returns for 
the various items tabulated. 

Data in tables 3 and 4 are distributed by net income 
classes. Table 3 shows the amount of each source of 
income or loss comprising total income, the deductions, 
balance income, amount distributable to beneficiaries, net 
income taxable to fiduciary, exemption, and tax liability. 
In table 4, there is a frequency distribution of returns by 
total income classes cross classified by net income classes. 

Data relating to taxable returns are tabulated in table 
5; and the data are shown for returns with normal tax 
and surtax separately from returns with alternative tax. 

Details pertaining to capital gains and losses are shown 
in table 6. Returns with a deduction for net loss from sales 
of capital assets are tabulated independently from returns 
showing a net gain from such sales. Returns with net 
gain from sales of capital assets are further segregated 
to show returns with normal tax and surtax separately 
from those with alternative tax. In all categories, the 
net short-term capital gain and loss, the net long-term 
capital gain and loss (100%), and the capital loss carry- 
over from 1947-51 are tabulated. In addition, there is 
shown the capital loss before application of the statutory 
limitation as well as the allowable loss deducted in com- 
puting total income, the amount of capital gain included 
in total income, and the excess of net long-term capital 
gain over net short-term capital loss which is taxed at 
the special 26-percent rate. 

In table 7, several items are tabulated separatel}' for 
trusts and for estates. Table 8 presents certain sources of 
income and the tax liability for each State and Territory. 
Returns with no total income are excluded from table 8. 

Historical data for the period 1944 through 1952 are 
assembled in tables 9 and 10. 

Throughout the tables, values in thousand dollars and 
percentages are rounded and, therefore, may not add to 
the totals. 



BASIC TABLES 
FIDUCIARY RETURNS, 1952 

Page 

1. Number of returns, total income, and tax— simple and cumulated 

distributions ^ ^^ 

2. Sources of income and loss, deductions, exemption, and tax — fre- 

quencies and amounts, by total income classes 71 

3. Sources of income and loss, deductions, exemption, and tax, by net 

income classes '* 

4. Frequency distribution of returns by size of net income 76 

5. Total income, net income, tax, average tax, and effective tax rate, 

by types of tax '° 

6. Capital gains and losses, short- and long-term, by total income 

classes '^ 

7. Returns for trusts and for estates by total income classes 81 

8. Selected sources of income and tax by States and Territories 82 

69 



70 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



Table 1.— NUMBER OF RETURNS, TOTAL INCOME, AND TAX— SIMPLE AND CUMULATED DISTRIBUTIONS 



Total income classes and classes cumulated 



Percent of 
total 



Total income 



Amount 
(Thousand dollars) 



Percent of 
total 



Tax liability 
(after credits) 



Amount 
(Thousand dollars) 



Percent of 
total 



$30,000 or more. 
$20,000 or more. 
$15,000 or more. 
$10,000 or more. 
$9,000 or more.. 

$fi,000 or more.. 
$7,000 or more.. 
$6,000 or more. . 
$5,000 or more. . 
$4,500 or more. . 

$4,000 or more. . 
$3,500 or more. . 
$3,000 or more. . 
$2,500 or more. . 
$2,000 or more. . 

$1,500 or more. . 
$1,000 or more. . 
$600 or more. . . . 
All retuma 



Returns with no total Income, nontaxable. 
Total returns 



(1) 



(2) 



(3) 



(5) 



Returns with total income, taxable and nontaxable: 

Under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3, 500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total 

Returns with no total income, nontaxable 

Grand total 



Returns with total income, taxable and nontaxable: 

Under $600 

Under $1,000 

Under $1,500 

Under $2,000 

Under $2, 500 

ttider $3,000 

Under $3, 500 

Under $4,000 

Under $4, 50O 

Under $5,000 

Under $6,000 

Under $7,000 

Under $8,000 

Under $9,000 

Under $10,000 

Under $15,000 

Under $20,000 

Under $30,000 

Under $50,000 

Under $100,000 

Under $200,000 

Under $500,000 

Under $1,000,000 

All returns 

Returns with no total income, nontaxable 

Total returns 



Returns with total income, taxable and nontaxable: 

$1,000,000 or more 

$500,000 or more 

$200,000 or more 

$100,000 or more 

$50,000 or more 



403,212 
^19,451 



71,388 
119,714 
162,598 
194,180 
218,420 

238,423 
254,463 
268,817 
280,155 
289,699 

306,341 
318,717 
323,392 
336,626 
343,708 

365,671 
376,940 
388,219 
396,040 
400,345 

402,482 
403,032 
403,159 
403,212 



=19,451 



422,663 



53 

180 

730 

2,367 

7,172 

14,993 

26,272 
37,541 
59,504 
65, 586 

74,820 
84,495 
96,871 
113,513 
123,057 

134,395 
148,744 
164,789 
184,792 
209,032 

240, 614 
283,498 
331,824 
403,212 



^19,451 



^422,663 



Total income classes 



71,383 


17.7 


48,326 


12.0 


42,884 


10.6 


31,582 


7.8 


24,240 


6.0 


20,003 


5.0 


16,045 


4.0 


14,349 


3.6 


11,338 


2.8 


9,544 


2.4 


16,642 


4.1 


12,376 


3.1 


9,675 


2.4 


8,234 


2.0 


7,032 


1.8 


21,963 


5.4 


11,269 


2.8 


11,279 


2.8 


7,821 


1.9 


4,805 


1.2 


1,637 


.4 


550 


.1 


127 


(') 


53 


(1) 



22,300 
37,925 
53,034 
54,815 
54,310 

54,627 
51,912 
53,735 
48,045 
45,200 

90,994 
79,995 
72,243 
69,622 
67,248 

267,293 
194,352 
274,318 
297, 150 
330,153 

219,292 
159,191 
36,840 
121,973 



2,806,567 
'18,407 



'2,738,160 



0.8 
1.4 
1.9 
2.0 
1.9 

1.9 

1.3 
1.9 

1.7 
1.6 

3.2 
2.9 
2.6 
2.5 
2.4 

9.5 
6.9 
9.8 
10.6 
11.8 

7.8 
5.7 
3.1 
4.3 



433 

976 

1,786 

2,157 

2,303 

2,449 
2,333 
2,618 
2,330 
2,154 

5,009 
4,259 
3,738 
3,772 
3,897 

16,413 
13,392 
21,931 
30,131 
37,893 

27,682 
20,077 
10,757 
16,393 



234,933 



Cumulated from lowest total income class 



17.7 
29.7 
40.3 
48.2 
54.2 

59.1 
63.1 
66.7 
69.5 
71.8 

76.0 
79.0 
81.4 
83.5 
85.2 

90.7 
93.5 
96.3 
98.2 
99.4 

99.8 
99.9 
99.9 
100.0 



22,300 
60,225 

113,259 
168,074 
222,384 

277,011 
328,923 

382,653 
430,703 
475,903 

566,897 
646,892 
719,135 
783,757 
856,005 

1,123,298 
1,317,650 
1,591,968 
1,889,118 
2,219,271 

2,438,563 
2,597,754 
2,684,594 
2,806,567 



-'18,407 



'2,788,160 



0.8 
2.1 
4.0 
6.0 
7.9 

9.9 

11.7 
13.6 
15.3 
17.0 

20.2 
23.0 
25.6 
28.1 
30.5 

40.0 
46.9 
56.7 
67.3 
79.1 

86.9 
92.6 
95.7 
100.0 



433 
1,409 
3,195 
5,352 

7,655 

10,104 
12,437 
15,055 
17,435 
19,539 

24,593 
28,357 
32,595 
36,367 
40,264 

56, 677 
70,069 
92,000 
122,131 
160,024 

187,706 
207,783 
218,540 
234,933 



234,933 



Cumulated from highest total income class 



(1) 

0.2 
.6 

1.8 

3.7 
6.5 
9.3 

14.8 
16.5 

13.6 
21.0 
24.0 
28.2 
30.5 

33.3 
36.9 
40.9 
45.8 
51.8 

59.7 
70.3 
82.3 

100.0 



121,973 
208,813 
368,004 
587,296 
917,449 

1,214,599 
1,438,917 
1,683,269 
1,950,562 
2,017,810 

2,087,432 
2,159,675 
2,239,670 
2,330,664 
2,375,864 

2,423,909 
2,477,644 
2,529,556 
2,584,183 
2,638,493 

2,693,308 
2,746,342 
2,784,267 
2,806,567 



^18,407 



'2,788,160 



4.3 
7.4 

13.1 
20.9 
32.7 

43.3 
53.1 
60.0 
69.5 
71.9 

74.4 
77.0 
79.8 
83.0 
84.7 

86.4 
38.3 
90.1 
92.1 
94.0 

96.0 
97.9 
99.2 
lOO.O 



16,393 
27,150 
47,227 
74,909 
112,802 

142,933 
164,864 
178,256 
194,669 
198,566 

202,338 
206,076 
210,335 

215,344 
217,493 

219,878 
222,496 
224,829 
227,278 
229,581 

231,738 
233,524 
234,500 
234,933 



See text for fiduciary returns for "Explanation of classifications and Terms" 
"Description of Sample and Limitations of Data." 
^Less than 0.05 percent. 



Includes 8,984 returns with no information reported. 
^Deficit in total Income. 
'Total income less deficit in total income. 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



71 



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FIDUCIARY INCOME TAX RETURNS FOR 1952 



73 



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76 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



Table 4.— FREQUENCY DISTRIBUTION OF RETURNS BY SIZE OF NET INCOME 



Total income classes 



Total 

number of 

returns 



Number of returns by size of net income 



No net 
income 



Under 
$600 



$600 

under 

$1,000 



$1,000 

under 

$1,500 



$1,500 

under 

$2,000 



$2,000 

under 

$2,500 



$2,500 

under 

$3,000 



$3,000 

under 

$3,500 



$3,500 

under 

$4,000 



$4,000 

under 

$4,500 



$4,500 

under 

$5,000 



$5,000 

under 

$6,000 



(1) 



(2) 



(3) 



(4) 



(5) 



(6) 



(7) 



(8) 



(9) 



(10) 



(11) 



(12) 



(13) 



liable returns: 

$100 under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3,500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Ibtal tajcable returns. . . . 

Nontaxable returns: 

No total income 

Dnder $600. . - 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3,500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total nontaxable returns. 

Grand total 

Returns under $5,000 

Returns $5,000 or more 



10,653 
13,588 
13,024 
10,472 
8,548 

7,411 
5,543 
5,336 
4,585 
3,704 

6,741 
5,060 
3,873 
3,468 
3,168 

9,694 
4,936 
5,332 
3,975 
2,521 

892 

299 

65 

39 



119,451 
60,735 
34,738 
29,860 
21,110 

15,692 
12,592 
10, 502 
9,013 
6,753 

5,340 
9,901 
7,316 
5,802 
4,766 

3,914 
12,269 
6,333 
5,947 
3,846 

2,284 

745 

251 

62 

14 



^289, 736 



"309,150 
113,513 



10,653 
2,519 
2,594 
1,754 
1,797 

1,467 
875 
350 
737 
627 



680 
585 
468 
330 

1,031 
522 

478 
259 

110 



11,069 

2,403 

1,265 

659 

723 
627 
490 
352 
361 

372 
436 
266 
213 
202 

479 

202 

202 

99 

67 



8,027 
2,116 
1,085 

596 
468 
362 

350 
181 

489 
372 
276 

213 
170 

521 
202 
139 
134 
55 

17 
3 



5,337 
1,478 

659 
351 
329 
415 
293 

521 
255 
191 
223 
276 

511 
181 
213 
101 
45 

11 
1 



3,529 

1,191 
457 
255 
245 
192 

256 
276 
150 
149 
139 

478 

117 

181 

36 

37 



2,775 
329 
303 
255 

117 

393 
191 
138 

U9 
96 

404 

117 

133 

76 

26 



1,936 
307 
277 
277 

266 
223 
181 
192 
117 

340 

213 

107 

61 

23 

9 

7 



1,935 
585 
223 

333 
149 
113 
128 
128 

351 
75 

159 
62 
51 

9 
4 



1,319 
566 

276 
35 
96 

117 
170 

255 
133 

171 



702 
191 
171 
95 
96 

202 

117 
117 
65 
21 



2,275 
330 
223 
159 
133 

478 
245 
160 
123 
61 

16 
2 
2 



20,510 



15,776 



4,712 



19,451 
40,353 
27,281 
24,722 
17,734 

13,404 

10,941 
8,791 
7,773 
5,849 

5,097 
8,821 
6,523 
5,081 
4,246 

3,517 
10,974 
5,866 
5,566 
3,593 

2,161 

714 

245 

62 

14 



20,332 
7,304 
5,057 
3,254 

2,237 
1,598 
1,618 
1,179 
334 

702 
1,029 
768 
690 
520 

366 
1,264 
4A7 
371 
250 

122 

31 

6 



153 
81 
122 

51 
53 
93 



(^) 



(=!) 
(=) 



(^) 
(2) 



1 
2 
3 
4 
5 

6 
7 
8 
9 
10 

11 
12 
13 
14 
15 

16 
17 
IS 
19 
20 

21 
22 
23 
24 



50,079 



238,784 



79,320 



21,383 



15,776 



11,397 



7,757 



2,644 



181,396 
57,388 



68,133 
11,182 



18,624 
2,759 



13,185 
2,591 



8,867 
2,530 



5,869 
1,888 



4,284 
1,726 



3,297 
1,739 



2,743 
1,617 



1,885 
1,454 



862 
1,782 



26 
27 
23 
29 
30 

31 
32 
33 
34 
35 

36 
37 
38 
39 

40 

41 
42 
43 
44 
45 

46 
47 
43 
49 

50 

51 

52 

53 
54 



See footnotes at end of table. See text for fiduciary returns for "Explanation of Classifications and Terms" and for "Description of Sample end Limitations of Data. 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



77 



Table 4.— FREQUENCY DISTRIBUTION OF RETURNS BY SIZE OF NET mOOME— CoMinuod 



Total income classes 



Number of returns by size of net income — Continued 



$6,000 

under 

$7,000 



$7,000 

under 

$8,000 



$8,000 

under 

$9,000 



$9,000 

under 

$10,000 



$10,000 
under 
$15,000 



$15,000 

under 
$20,000 



$20,000 
under 
$30,000 



$30,000 

under 
$50,000 



$50,000 

under 
$100,000 



$100,000 

under 
$200,000 



$200,000 

under 
$500,000 



$500,000 

under 

$1,000,000 



$1,000,000 
or more 



(U) 



(15) 



(16) 



(17) 



(18) 



(19) 



(20) 



(21) 



(22) 



(23) 



(2A) 



(25) 



(26) 



Taxable returns: 

$100 under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3, 500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7, 000 under $8 , 000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total taxable returns. . . . 

Nontaxable returns: 

No total income 

Under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under «3,500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50, 000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total nontaxable returns. 

Grand total 

Returns under $5,000 

Returns $5,000 or more 



1,372 


- 


510 


968 


245 


351 


159 


159 


457 


457 


255 


149 


180 


191 


108 


124 


55 


67 



776 

414 

414 
244 
107 
83 
49 



457 
159 
192 
119 

40 

10 
3 



2,859 
809 
735 
453 
226 

37 
16 
2 



1,191 
553 
363 
171 

32 
9 



1,309 
624 
299 



964 
454 

123 
27 
3 
3 



231 
35 
7 
6 



169 

73 

13 

2 



3,360 



1,554 



5,137 



2,320 



3,360 



1,554 



2,320 



2,488 



2,106 



9 

10 

11 
12 
13 



18 
19 
20 

21 
22 
23 
24 



26 
27 
28 
29 

30 

31 
32 



37 
38 
39 
40 



42 
43 



47 
48 
49 
50 



53 

54 



See text for fiduciary returns for "Explanation of Classifications and Terms" and for "Description of Sample and Limitations of Data." 

^Includes 8,984 returns with no information reported. 

^Number of returns is subject to sampling variability of more than 100 percent; therefore, data are not shonn separately. They are, however, included in the totals. 



78 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



Table 5.— TOTAL INCOME. NET INCOME, TAX. AVERAGE TAX, AND EFFECTIVE TAX BATE, BY TYPES OF TAX 



Total income classes ajid type of tax 



$100 under $600 ; 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 imder $2,500 

$2,500 under $3,000 

$3,000 under $3,500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 uneer $1,000,000 

$1,000,000 or iDcre 

Total taxable returns 

Returns under $5,000 

Returns $5,000 or more 

/ 
V 

$100 under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $3,500 

$3,500 under $4,000 

$4,000 under $4,500 

$4,500 under $5,000 

$5,000 under $6,000 

$6,000 under $7,000 

$7,000 under $8,000 

$8,000 under $9,000 

$9,0C0 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total returns with normal tax and surtax 

Under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000 

$200,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 or more 

Total returns with alternative tax 



Number of 
returns 



(1) 



Total 
income 



( Thousand 
dollars) 



(2) 



Net incoiue 
taxable to 
fiduciary 

(Thousand 
dollars) 



(3) 



Amount of 

exemption 



(Thousand 
dollars) 



(^) 



Tax 
liability 

(after 

credits) 

( Thousand 

dollars) 



(5) 



Average 

tax 



(6) 



Effective 
tax rate — 
tax lia- 
bility as 
percent of 
net income 



10,653 
13,588 
13,024 
10,472 
8,548 

7,411 
5,543 
5,336 
4,585 
3,704 

6,741 
5,060 
3,873 
3j468 
3,168 

9,694 
4,936 
5,332 
3,975 

2,521 

892 
299 



82,864 
50,063 



10,653 
13,588 
13,024 
10,472 
8,548 

7,411 
5,543 
5,336 
4,585 
3,704 

6,741 
5,060 
3,873 
3,468 
3,168 

9,694 
4,681 
4,746 
3,311 
1,801 

508 

140 

24 

13 



130,092 



255 
586 
664 
720 

384 
159 



All taxable returns 



3,508 
10,752 
16, 186 
18,131 
19,130 

20,271 
17,932 
19,986 
19,490 
17,530 

36,941 
32,655 
28,921 
29,308 
30,091 

118,141 
84,936 
130,016 
150,769 
173,197 

119,161 
85,896 
44,089 
80,684 



1,307,721 



162,916 
1,144,805 



3,022 
9,242 
12,394 
13,361 

12,881 

13,199 
11,538 
12,942 
11,608 
10,253 

22,876 
18,624 
15,823 
15,392 
15,526 

59,512 
41,904 
59,633 
68,742 
73,721 

47,642 
32,861 
16,012 
28,052 



626,760 



110,440 
516,320 



1,065 
4,821 
4,366 
3,589 
2,642 

2,175 
1,692 
1,512 
1,273 
997 

1,892 

1,236 

969 

840 

824 

2,261 

1,121 
1,112 



201 

64 

12 

7 



24,132 
11,990 



433 

976 

1,736 

2,157 

2,303 

2,449 
2,333 
2,618 
2,380 
2,154 

5,009 
4,259 
3,738 
3,772 
3,897 

16,413 
13,392 
21,931 
30,131 
37,893 

27,682 
20,077 
10,757 
16,393 



234,933 



19,589 
215, 34i 



41 
72 
137 
206 
269 

330 
421 
491 
519 
582 

743 

842 

965 

1,088 

1,230 

1,693 
2,713 
4,113 
7,580 
15,031 

31,034 

67,147 

165,492 

420,333 



1,767 



236 
,301 



Returns with normal tax and surtax 



3,508 
10,752 
16,186 
18,131 
19,130 

20,271 
17,932 
19,986 
19,490 
17,530 

36,941 
32,655 
28,921 
29,308 
30,091 

118,141 
80,378 
115,716 
125,070 
122,113 

66,976 
39,540 
16,840 
27,626 



3,022 
9,242 
12,394 
13,361 
12,881 

13,199 
11,538 
12,942 
11,608 
10,253 

22,876 
18,624 
15,823 
15,392 
15,526 

59,512 
37,560 
46,825 
47,623 
36,866 

16,509 
6,179 
3,822 
3,764 



457,341 



1,065 
4,821 
4,366 
3,589 
2,642 

2,175 
1,692 
1,512 
1,273 
997 

1,892 

1,236 

969 

840 

824 

2,261 

1,037 

956 

702 

366 

112 
25 



433 

976 

1,786 

2,157 

2,303 

2,449 
2,333 
2,618 
2,330 
2,154 

5,009 
4,259 
3,738 
3,772 
3,897 

16,413 
11,815 
16,748 
20,141 
18,490 

9,983 
4,184 
3,175 
3,206 



41 
72 
137 
206 
269 

330 
421 
491 
519 
582 

743 

842 

965 

1,088 

1,230 

1,693 
2,524 
3,529 
6,083 
10,267 

19,652 
29,886 
132,292 
246,615 



1,110 



Returns with alternative tax 



2,835 



4,558 
14,300 
25,699 
51,084 

52,185 
46,356 
27,249 
53,058 



274,489 



4,344 
12,808 
21,119 
36,855 

31,133 
26,682 
12,190 
24,288 



169,419 



84 
156 
186 

197 

89 
39 



1,577 

5,183 

9,990 

19,403 

17,699 

15,893 

7,582 

13,187 



90,514 



6,184 
8,845 
15,045 
26,949 

46,091 
99,956 
184,927 
507,192 



31,927 



(7) 



14.3 
10.6 
14.4 
16.1 
17.9 

18.6 

20.2 
20.2 
20.5 
21.0 

21.9 
22.9 
23.6 
24.5 
25.1 

27.6 
32.0 
36.8 
43.8 
51.4 

58.1 
61.1 
67.2 
58.4 



37.5 



17.7 
41.7 



14.3 
10.6 
14.4 
16.1 
17.9 

18.6 
20.2 
20.2 
20.5 
21.0 

21.9 
22.9 
23.6 
24.5 
25.1 

27.6 
31.5 
35.8 
42.3 
50.2 

60.5 
67.7 
83.1 
85.2 



31.6 



36.3 
40.5 
47.3 
52.6 

56.3 
59.6 
62.2 
54.3 



53.4 



See text for fiduciary returns for "Explanation of Classifications and Terras" and for "Description of Sample and Limitations of Data." 



FIDUCIARY INCOME TAX RETURNS FOR 1952 



79 



>D C- W CT> O 



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a. o i^ u -^ o - 



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FIDUCIARY INCOME TAX RETURNS FOR 1952 



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FIDUCIARY INCOME TAX RETURNS FOR 1952 



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FIDUCIARY INCOME TAX RETURNS FOR 1952 

Table 8.— SELECTED SOURCES OF INC0S4E AND TAX BY STATES AND TERRITORIES 
(Returns with total income) 



States and Territories 



Number of 

returns, 

taxable and 

nontaxable 



( Thousand 
dollars) 



Interest 

received 



( Thousand 
dollars) 



Total income 



( Thousar>d 
dollars) 



Net inccme 
taxable to 
fiduciary 

( Thousand 
dollars) 



Net deficit 



(Thousand 
dollars) 



Tax Uablllty 

(after 

credits ) 

(Thousand 
dollars) 



(1) 



(2) 



(3) 



(■4) 



(5) 



(6) 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia, 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentuclsy 

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 

Total.. 



2,693 
1,125 
1,070 
30,322 
2,890 

9,633 
3,26i 
3,281 
5, 403 
4,084 

1,303 

485 

26,750 

5,607 

7,312 

4,203 
4,839 
1,417 
2,015 
9,573 

29,720 
10, 2U 

7,351 
901 

9,352 

908 
2,719 

288 

1,584 

14,107 

614 
73,389 
4,706 

712 
18,176 

2,933 

3,513 

43,363 

3,502 
1,760 

1,084 
3,593 

12,863 
1,219 
1,240 

6,020 
6,478 
2,734 
9,681 
412 



7,757 
1,685 
1,151 
85,893 
9,114 

37,679 
55,424 
8,209 
19,119 
13,585 

5,237 

478 

123,771 

17,005 

8,905 

3,409 

10,850 

2,262 

4,630 

33,436 

133,270 

49,595 

26,203 

852 

42,457 

1,409 
3,642 
2,099 

4,234 
67,170 

1,171 

424,557 

16,069 

337 

93,897 

4,022 
6,123 
182,101 
17,590 
3,519 

494 

11,424 

25,812 

2,180 

1,895 

12,786 
12,998 
3,259 

27,351 
610 



2,057 

730 

633 

16,212 

2,545 

5,777 
2,183 
3,604 
3,577 
1,612 

381 

172 

20,140 

2,553 

2,541 

1,429 
1,876 
784 
1,467 
8,706 

20,941 

5,687 

5,370 

693 

6,970 

197 

1,149 

264 

841 
11,585 

153 

91,180 

1,628 

207 
12,424 

1,106 

1,337 

35,913 

4,047 

876 

252 

2,359 

6,248 

579 

443 

2,399 
3,643 

957 

5,170 

177 



19,470 

6,133 

7,786 

130,446 

17,624 

57,422 
68,219 
20,664 
35,949 
28,755 

9,701 

1,580 

221,320 

31,171 

24,862 

16,784 
19,905 
10,059 
7,883 
55,944 

202,131 
31,535 
45,637 
4,705 
70,994 

3,251 
13,930 
3,390 
6,313 
94,221 

3,397 

640,071 

28,440 

1,699 
141,937 

20,729 

15,390 

277,104 

25,963 

8,217 

2,573 

24,455 

113,651 

4,618 

3,104 

26,501 
29,820 
14,771 
44,688 
2,307 



3,998 
1,389 
2,042 
41,132 
4,910 

16,023 
15,251 
5,410 
U,032 
10,257 

1,278 

759 

52,814 

9,683 

6,265 

6,144 
4,858 
3,871 
1,751 
9,750 

39,240 
26,412 
13,844 
1,972 
17,621 

1,337 

3,149 

676 

1,162 

21,731 

887 

111,443 

7,354 

937 

30,519 

7,416 
4,621 
41,947 
5,172 
2,607 

1,066 
6,225 

51,723 
884 
854 

5,304 
7,217 
3,341 
10,902 
974 



109 

42 

11 

3,067 

195 

956 
278 
124 
316 

305 



4,127 
111 
324 

264 

236 

55 

85 

772 

3,957 
630 
558 
106 
499 

3 

69 

45 

29 

1,437 

39 

13,794 

512 

19 

1,765 

604 

142 

2,598 

318 

25 

17 
422 

504 
53 

18 

340 
1,797 

98 
713 

32 



(7) 



1,471 

457 

663 

14,009 

1,766 

5,873 
9,243 
1,785 
3,905 
4,228 

384 

207 

19,455 

3,198 

1,774 

1,670 
1,438 
1,188 
478 
3,193 

13,775 
10,311 

5,247 
537 

6,948 

330 
765 
303 
276 
8,373 

300 

41,011 

2,482 

199 
11,929 

2,515 

1,523 

15,225 

1,949 

906 

188 

2,112 

22,203 

200 

200 

1,505 
2,350 
1,105 
3,692 
282 



1,633,780 



304,834 



637,204 



42,759 



235,176 51 



See text for fiduciary returns for "Explanation of Classifications 
^Includes Alaska. 



and Terms" and for "Description of Sample and Limitations of Data. 



HISTORICAL TABLES 
TAXABLE FIDUCIARY RETURNS, 1944-52 



Page 

9. Number of returns, total income, tax, and effective tax rate, bj- 

total income classes 

10. Sources of income and deductions by type 

83 



84 



TAXABLE FIDUCIARY INCOME TAX RETURNS, 1944-1952 



Table 9.— NUMBER OF RETURNS, TOTAL INCOME, TAX. AND EFFECTIVE TAX RATE, BY TOTAL INCOME CLASSES, 1944-1952 

(For historical data prior to ig-W, see Statistics of Income for 1949, pp. 326-328.) 



Total Income classes 



1952 



1951 



1950 



1949 



1948 



1947 



Number of returns 



IJhder $500. 

$500 under $1,000 

Under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000. .f 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000... 
$200,000 under $500,000... 
$500,000 under $1,000,000. 
$1,000,000 or more 

Total 

Under $500 

$500 under $1,000 

Ifcder $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

*20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000... 
$200,000 under $500,000. . . 
$500,000 under $1,000,000. 
$1,000,000 or more 

Total 



Ifcder $500 

$500 under $1,000 

Under $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000... 
$200,000 under $500,000... 
$500,000 under $1,000,000. 
$1,000,000 or more 

Ibtal 

Under $500 

$500 under $1,000 

Ifcder $600 

$600 under $1,000 

$1,000 under $1,500 

$1,500 under $2,000 

$2,000 under $2,500 

$2,500 under $3,000 

$3,000 under $4,000 

$4,000 under $5,000 

$5,000 under $10,000 

$10,000 under $15,000 

$15,000 under $20,000 

$20,000 under $30,000 

$30,000 under $50,000 

$50,000 under $100,000 

$100,000 under $200,000... 
$200,000 under $500,000... 
$500,000 under $1,000,000. 
$1,000,000 or more 

Total 



10,653 
13,588 
13,024 

10,472 
8,548 
7,411 

10,879 
8,289 

22,310 
9,694 
4,936 
5,332 

3,975 

2,521 

892 

299 

65 

39 



8,659 
11,493 
11,715 

8,899 
7,505 
6,019 
9,524 
7,147 

19,555 
8,556 
4,746 
4,953 
3,775 

2,354 

913 

309 

61 

27 



116, 210 



8,530 
11,574 
11,556 

8,925 
7,283 
6,192 
9,437 

7,000 

18,996 
8,584 
4,589 
4,867 
3,811 

2,537 

903 

368 

69 

31 



8,657 
11,020 
10,753 

8,053 
6,660 
5,437 
8,088 
5,871 

15,537 
6,533 
3,681 
3,834 
2,746 

1,735 
656 
243 
48 
25 



99,577 



6,879 
12,441 



10,682 

8,461 
6,674 
5,419 
8,385 
6,135 

15,887 
6,753 
3,756 
3,840 
3,026 

1,923 
667 
277 
50 
23 



7,074 
15,978 



11,836 

9,261 
7,256 
5,924 
9,038 
6,494 

16,725 
7,044 
3,704 
3,985 
2,970 

1,762 

628 

241 

56 

21 



7,199 
17,170 



13,283 

10,125 
8,197 
6,500 
9,972 
7,256 

19,098 
3,029 
4,295 
4,344 
3,223 

1,977 
751 
225 



7,309 
17,649 



13,109 

9,805 
7,652 
6,292 
9,341 
6,777 

16,934 
6,786 
3,618 
3,526 
2,573 

1,511 

454 

176 

36 

12 



Total income (Thousand dolla 



3,508 
10,752 
16,186 

18,131 
19,130 
20,271 
37,918 
37,020 

157,916 
118,141 
84,936 
130,016 
150,769 

173,197 
119,161 
85,896 

44,089 
80,684 



1,307,721 



2,883 
9,125 
14,495 

15,489 
16,789 
16,501 
33,035 
31,976 

133,983 
104, 522 
82,055 
120,641 
143,942 

160,424 
123,803 
90,108 
42,796 
54,804 



1,202,376 



2,816 
9,224 
14,309 

15, 513 
16,301 
16,960 
32,748 
31,340 

134,343 
104,532 
79,346 
118,679 
145,313 

173,932 
123,265 
106,384 
43,946 
59,406 



2,906 
3,769 
13,267 

13,984 
14,866 
14,950 
28,024 
26,322 

110,021 
79,558 
63,514 
93,322 

105,067 

113,323 
88,963 
69,932 
33,175 
41,864 



926,824 



1,973 
9,536 



U,185 

14,708 
14,933 
14,855 
29,047 
27,479 

112,485 
32,301 
&t,751 
93,695 

115,294 

130,853 
89,327 
79,411 
34,995 
57,975 



986,806 



2,024 

11,887 



14,636 

16,083 
16,244 
16,235 
31,312 
29,003 

118,570 
86,122 
64,053 
96,872 

113,339 

119,054 
85,337 
70,060 
38,921 
43,778 



973,533 



2,136 

12,709 



16,424 

17,530 
18,334 
17,792 
34,467 
32,41A 

134,465 
97,715 
73,892 
105,748 
123,070 

132,788 
100, 573 
62,591 
40,955 
42,111 



2,134 
13,051 



16,214 

16,996 
17,186 
17,248 
32,379 
30,326 

119,488 
82,581 
62,551 
85,727 
97,682 

102,160 
61,447 
50,556 
25,039 
23,319 



1,065,765 



855, 594 



Tax liability^ (Thouaand dollars} 



433 

976 

1,786 

2,157 
2,303 
2,449 

4,951 
4,534 

20,675 
16,413 
13,392 
21,931 
30,131 

37,893 
27,682 
20,077 
10,757 
16,393 



234,933 



331 

736 

1,466 

1,696 
1,877 
1,864 
3,793 
3,698 

17,280 
W,265 
12,299 

19,615 
27,972 

33,888 
30,774 
21,856 
10,390 
6,950 



210,765 



271 

621 

1,228 

1,452 
1,552 
1,660 
3,244 
3,141 

U,232 
12,701 
10,580 
13,003 
26,153 

36,501 
28,937 
25,496 
12,322 
10,152 



203,756 



274 
570 

1,110 

1,278 
1,398 
1,409 
2,737 
2,636 

11,798 
9,402 
8,332 
13,935 
13,212 

22,220 
19,968 
15,382 
7,709 
5,553 



144,030 



175 
648 



1,091 

1,345 
1,426 
1,452 
2,870 
2,788 

12,714 
10,451 
8,859 
15,357 
22,086 

27,651 
21,300 
17,979 
7,565 
20,552 



176,309 



201 
921 



1,440 

1,683 
1,754 
1,748 
3,383 
3,209 

14,175 
11,397 
9,442 
16,551 
22,779 

27,735 
20,226 
18,078 
9,795 
8,507 



173,071 



197 
936 



1,549 

1,757 
1,398 
1,363 
3,636 
3,459 

15,690 
13,211 

11,341 
18,577 
26,687 

33,371 
28,148 
17,254 
13,108 
12,757 



205,457 



241 
1,118 



1,796 

1,955 

2,013 
2,052 
3,916 
3,750 

15,956 
12,752 
10,654 
16,764 
23,474 

27,599 
17,843 
16,564 
8,110 
8,938 



175,605 



Effective tax rate (Tax liability 



12.3 

9.1 
11.0 

11.9 
12.0 
12.1 
13.1 
12.2 

13.1 
13.9 
15.8 
16.9 
20.0 

21.9 
23.2 
23.4 
24.4 

20.3 



18.0 



11.5 
8.1 
10.1 

10.9 
11.2 
11.3 
11.5 
11.5 

12.4 
13.6 
15.0 
15.3 
19.4 

21.1 
24.9 
24.3 
24.3 
12.7 



17.5 



9.6 
5.7 

8.6 

9.4 
9.5 
9.8 
9.9 

10.0 

10.6 
12.1 
13.3 
15.2 
18.0 

21.0 
23.5 
24.0 
26.2 

17.1 



15.9 



3.4 

9.1 
9.4 
9.4 
9.3 
10.0 

10.7 
11.8 
13.1 
14.9 
17.3 

18.8 
22.4 
22.0 
23.2 
13.5 



15.5 



8.9 
6.8 



9.1 
9.5 
9.8 
9.9 
10.1 

11.3 
12.7 
13.7 
16.4 
19.2 

21.1 
23.3 
22.5 

21.5 
35.4 



17.9 



9.9 
7.7 



9.8 

10.5 
10.3 
10.7 
10.3 
11.1 

12.0 

13.2 
U.7 
17.1 
20.1 

23.3 
23.7 
25.8 
25.2 
19.4 



17.8 



9.4 

10.0 
10.4 
10.5 
10,5 
10.7 

11.7 
13.5 
15.3 
17.6 
21.7 

25.1 
23.0 
27.6 
32.0 
30.3 



19.3 



11.3 
8.6 



11.1 

11.5 
11.7 
11.9 
12.1 
12.4 

13.4 
15.4 
17.0 
19.6 
24.0 

27.0 
29.0 
33.0 
32.4 
37.5 



20.5 



'Tax for 1944 is before tax credits for foreign taxes paid and tax paid at source; for subsequent years, it is after such credits. 



TAXABLE FIDUCIARY INCOME TAX RETURNS, 1944-1952 



85 



Table 10.— SOURCES OF INCOME AND DEDUCTIONS BY TYPE, 1944-1952 
(For historical data prior to 19<W, see Statistics of Income for 19A9, pp. 329-330. ) 



Inccnie and deductions 



Source of income; 

Positive inccine: 

Business profit 

Partnership profit 

Net gain frcm sales 'of capital assets 

Net gain from sales of property other than capital assets. 
Rents and royalties profit 

Inccnie from other fiduciaries 

Dividends 

Interest 

Miscellaneous income 

Total 

Losses : 

Business loss 

Partnership loss 

Net loss from sales of capital assets 

Net loss from sales of property other than capital assets. 
Rents and royalties loss 

Total 

Total income 

Deductions : 

Interest paid 

Taxes paid 

Ulscellaneous deductions 

Amount distributable to beneficiaries 

Total 

Net income taxable to fiduciary 



(Th<njsaf\d dollara) 



37,073 
58,836 

221,674 
1,912 

lJ0,i87 

24,530 
723,436 
102,481 

20,098 



1,320,527 



4,716 
1,371 
3,431 
946 
2,348 



12,812 



1,307,721 



12,176 
30,595 
70,921 
567,276 



630,968 



626,760 



41,725 
45,074 

212,407 
1,886 

109,041 

25,375 

665,377 

91,524 

18,465 



1,210,874 



2,540 
966 

2,392 
686 

1,911 



8,495 



10,683 
27,982 
61,516 
511,353 



611,534 



590,347 



43,019 
46,973 

213,237 
3,045 

105,891 

20,570 

693,180 

95,895 

21,636 



1,243,446 



2,942 
1,705 
2,433 
824 
1,592 



9,496 



1,233,957 



12,142 
24,501 
59,115 
522,580 



618,338 



615,614 



33,969 
41,004 

103,968 
1,372 

102,559 

16,260 
529,760 
84,264 
16,745 



934,901 



1,832 
715 

3,457 
625 

1,448 



8,077 



926,824 



9,119 
23,050 
46,958 
384,923 



464,050 



45,506 
43,948 

144,583 
1,741 

117,635 

14,609 
518,021 
84,703 
19,300 



995,046 



1,836 
632 

3,658 
537 

1,477 



8,240 



986,806 



10,403 

21,492 

47,530 

377,021 



456,446 



51,017 
55,724 

146,535 
2,118 

102,628 

11,962 

497,187 

94,733 

19,993 



931,897 



1,508 
562 

3,632 
901 

1,710 



8,313 



9,687 
22,547 
43,009 
384,096 



464,339 



50,952 

67,682 

254,718 

1,961 

89,590 

14,220 
466,316 
108,179 

18,598 



1,072,716 



1,592 
529 

2,312 

827 

1,690 



6,950 



1,065,765 



9,676 
22,045 
44,569 
394,551 



470,841 



594,924 



39,034 
61,706 
199,793 
1,214 
79,206 

10,777 

453,555 

17,038 



862,323 



1,353 
303 

1,754 
789 

1,520 



5,729 



3,363 

19,441 

36,671 

313,624 



378,099 



478,495 



40,128 
50,715 
95,562 
1,242 
63,604 

9,311 

383,785 

11,562 



660,909 



996 
316 

2,220 
567 

1,188 



5,287 



3,231 

16,045 

30,705 

243,625 



293,606 



357,017 



Synopsis of 

Federal 

Tax Laws 

1944-52 



INDIVIDUAL AND FIDUCIARY INCOME TAX 

Page 

A. Requirements for filing returns and exemptions 89 

B. Normal tax and surtax rates 90 

C Provisions pertaining to capital gains and losses 91 

SELFEMPLOYMENT TAX 

D . Requirements for filing returns and tax rate 92 



SYNOPSIS OF LAWS, 1944-1952 



89 



Table A— REQUIREMENTS FOR FIUNG RETURNS AND EXEMPTIONS UNDER THE INDIVIDUAL AND FIDUCIARY INCOME TAX LAW. 1944-52 ' 



Federal tax law: Revenue acts amending Code ' (date of enactment) 



Revenue Act of 1951 (Oct. 20, 1951) 

Revenue Act of 1950 (Sept. 23, 1950) 

Revenue Act of 1948 (Apr. 2, 1948)-- 

Revenue Act of 1945 (Nov. 8, 1945)--- 

Individual Income Tax Act of 1944 (May 29. 1944). 



Income year 



1948-52-. 
1944-47- 



Gross in- 
come 3 re- 
quirements 
for filing 
returns * 



DoUaTS 



>600 
500 



Exemptions ' 



For married 

couple filing 

jointly 



Dollars 
1.200 



l» 1,000 



For single 
person,' mar- 
ried persons 
filing sepa- 
rately, or 
fiduciary ' 



DollaTs 



600 
500 



For each 
dependent ^ 



Dollars 



600 
500 



For taxpayer and/or 
spouse 



65 years of 
age or older 



Dollars 

600 



Blind 



Dollars 
600 



iFor Income years 1913-43, see Statistics of Income for 1950, Part 1, 
pages 308-309. 

2 Revenue acts passed after Feb. 10, 1939 (the date of the enactment 
of the Internal Revenue Code of 1939) are not complete taxing 
statutes In themselves, but consist of amendments to the Code. 
There Is no one effective date for all provisions of each act; some 
of the provisions are retroactive, others apply to the current tax 
period, while still others are effective for future taxable years. 

= Gross income, in general, includes all gains, profits, and income 
derived from any source whatever except such as is specificany 
exempt from income tax. Section numbers refer to the 1939 Code. 

(a) The following Items, under certain conditions, are among the 
exclusions from gross income for the entire period beginning 1944 
or before: 

Proceeds of life insurance policies paid upon the death of the 
insured. (Sec. 22 (b) (1).) 

Wholly tax-exempt interest. (Sec. 22 (b) (4).) 

Value of property acquired by gift, bequest, devise, or descent. 
(Sec. 22 (b) (3).) 

Amounts received as return of premiums paid luider life insur- 
ance, endowment, or annuity contracts. (Reg. Ill, 29.22 (a)- 
12.) 

Compensation for injuries or sickness. (Sec. 22 (b) (5) .) 

Payments, except retirement pay, made to or on account of a 
beneficiary under any of the laws relating to veterans. (Public 
Law 262, 74th Cong.) 

Rental value of a dwelling house furnished to a minister of the 
gospel. (Sec. 22 (b) (6).) 

Receipts of shipowners' mutual protection and indemnity asso- 
ciations. (Sec. 116 (g).) 

Income from sources within a possession of the United States, 
but not received within the United States, of citizens (except 
beginning in 1951, an employee of the United States or any 
agency thereof) deriving a large percentage of their gross Income 
from sources within the possession. (Sec. 251.) 

Earned income from sources outside the United States. (Also 
see note4 (/).) (Sec. 116 (a).) 

Compensation of employees of foreign governments or of the 
Commonwealth of the Philippines. (Sec. 116 (h).) 

Benefits received under the Railroad Retirement Act. 

Income exempt under treaty. (Sec. 22 (b) (7).) 

Amounts received under Federal old-age and survivors Insurance 
benefits. Title 11, Social Security Act. (Income Tax Ruling 
3447, 1941.) 

Improvements by lessee on lessor's property. (Sec. 22 (b) (11).) 

Disability pay for sickness or injury resulting from active service 
in the armed forces of any country. (Sec. 22 (b) (5).) 

Mustering-out payments with respect to service in the military 
or naval forces of the United States. (Sec. 22 (b) (14) .) 

Compensation for services of a minor Is excluded from the gross 
Income of the parent (reported on the minor's return If re- 
quired to be filed). (Sec. 22 (m).) 

(b) The following items, under certain conditions, are among the 
excltisions from gross income for part of the period 1944 through 
1952: 

1944 through 194a— 

Compensation received by noncommissioned personnel for ac- 
tive service In the military or naval forces of the United 
States. (Prior to enactment of the Revenue Act of 1945 and 
Public Law 384, 80th Congress, only $1,500 during 1944. 
The additional exclusions, made retroactive, are not re- 
flected In the salary tabulated in Statistics of Income for 
1944.) (Sec. 22 (b) (13).) 

Active service pay, not exceeding $1,500, of commissioned 
officers in the military or naval forces of the United States. 
(Sec. 22 (b) (13).) 

1950 and thereafter — 

Beginning June 25, 1950, all pay of enlisted men and warrant 
officers and the first $200 per month paid to commis- 
sioned officers for active service in combat zones (desig- 
nated by the President ) . (Sec. 22 (b) (13).) 

1951 and thereafter — 

Amounts, not exceeding $5,000, paid by an employer, under 
a contract, to the beneficiaries of a deceased employee. 
(Sec. 22 (b) (1).) 

(c) The following items are among those included in gross Income 
but subject to special provisions under section 107 (only that portion 
of income allocated to the current Income year is tabulated In 
Statistics of Income) : 

Compensation earned from personal services covering a period of 
36 months or more. 

Income from an artistic work or invention covering a period of 
36 months or more. 

Back pay. 



* (a) A citizen or resident of the United States may elect to pay 
the optional tax (see table B, note 4 (d) ) and be relieved from com- 
puting his tax liability If his gross income is less than $5,000 and 
consists entirely of wages subject to withholding or of such wages 
and not more than a total of $100 of other income from wages, 
dividends, and interest; in such cases, the tax is computed by the 
district directors of Internal revenue. A married couple electing to 
pay the optional tax computed by the director may file a Joint return 
if their combined incomes do not exceed the preceding limitations 
(see (b) below); the optional tax is not allowed if either spouse 
itemizes deductions. 

(b) The amount of Income for which married persons are required 
to file a return is the separate gross income of husband or wife. Hus- 
band and wife file separate returns unless the combined Income Is 
included In a Joint return; a Joint return may be filed even though 
one spouse has no Income; a Joint return may not be filed if either 
spouse Is a nonresident alien or If the husband and wife have dif- 
ferent taxable years except, beginning in 1948, if one or both die 
during the year and the survivor does not remarry. 

Marital status is determined as of the last day of the taxable year 
or as of the date of death if one spouse dies during the year. 

(c) A person with less than the required amount of gross income, 
which Includes wages subject to withholding, should file a return 
to claim refund of tax withheld unless such income Is Included In a 
Joint return. Also, an individual with less than the indicated amount 
of gross income should file to claim refund of payments made on 
declaration of estimated tax. 

(d) The requirements for filing a fiduciary Income tax return 
are the same as for a single person except that a return is required 
for every estate or trust of which any beneficiary is a nonresident 
alien and that a return must be filed by every trust having a net 
income of $100 or more or the indicated gross income regardless 
of amount of net Income. Net income means net Income taxable 
to the fiduciary and is the amount of Income remaining in the 
hands of the fiduciary after deductions for allowable expenses and 
for amount distributable to beneficiaries. 

(e) Returns are permitted for a fiscal year other than that ending 
Dec. 31, except on Form W-2 for 1944^-47 or on Form 1040A for 1948 
and subsequent years. 

(/) The Internal Revenue Code of 1939 provides other filing re- 
quirements as follows: 

Citizens deriving a large percentage of their gross Income from 

possessions. (Sec. 251 (g) and 251 (J).) 
Nonresident citizens with earned income from sources outside 

the United States. (Sec. 51 (a), 116 (a), and 116 (h).) 
Nonresident aliens. (Sec. 217.) 

Servicemen abroad or in combat areas. (Sec. 53 and 3804.) 
Minors. (Sec. 51 (a) and 22 (m).) 

= Exemptions for citizens and resident aliens are termed "normal- 
tax exemption" and "surtax exemption" for 1944—45 and "exemption" 
for 1946 and thereafter. Beginning 1948, additional exemptions are 
allowed for age 65 or more and for blindness of the taxpayer and/or 
spouse (If a Joint return is filed). 

Elxemption is allowed as a credit against net income (see table 
B, note 4 (a) ) for purposes of both normal tax and surtax, except 
that for 1944-45 on a Joint return where the adjusted gross income 
(see table B, note 4 (b) ) of one spouse is less than $5(X) the normal- 
tax exemption is $500 plus the adjusted gross income of such spouse. 

Marital status Is determined as of the close of the taxable year, 
or if one spouse dies during the year as of the time of such death, 
and no proration of exemption is required. 

For exemption status of nonresident aliens, see Statistics of Income, 
Part 1, 1950, page 315, note 20. 

"For taxable years beginning after Oct. 31, 1951, the exemption 
for a head of household (defined in note 7, table B) is that for a 
single person. 

' A credit of $100 against the net Income of a trust Is substituted 
for the exemption. 

"For 1944-50, an exemption Is allowed citizens and resident aliens 
for each closely related dependent specified by law over half of 
whose support was received from the taxpayer and whose gross income 
for the taxable year is less than $600; beginning 1951, the gross Income 
limitation is $600. 

Credits for dependents are allowed for stirtax only, 1944-45. and for 
both normal tax and surtax, 1946 and thereafter. 

The credit for dependents is not applicable to citizens deriving a 
large percentage of their gross Income from sources within a possession 
of the United States. 

"Beginning 1951, for persons having net earnings of $400 or more 
from self-employment, see table D. 

>» The exemption is $500 for each spouse, except that for 1944-45 
on Joint returns where adjusted gross Income (see table B, note 4 
(b)) of one spouse is less than $500, the normal-tax exemption Is 
$500 plus the adjusted gross income of such spouse. 



90 



SYNOPSIS OF LAWS, 1944-1952 



Table B— N OBMAL TAX RATFS AND MINIMUM AND MAXIMUM SURTAX RATFS UNDER THE INDIVIDUAL AND FIDUCIARY INCOME TAX LAW. 1944-52' 

Tax rate < 



Federal tax law: 
Revenue acts 
amending Code ! (da^f of enactment) 



Revenue Act of 1951 (Oct. 20, 1951)- 



Revenue Act of 1950 (Sept. 23. 1950).... 



Revenue Act of 1948 (Apr. 2, 1948) 

Revenue Act of 1945 (Nov. 8. 1945) 

Individual Income Tax Act of 1944 
(May 29. 1944). 



Income year ^ 



{Calendar year 1952. 
Fiscal years beginning after Oct. 31, 1951 
Calendar year 1951 

[Fiscal years beginning after Sept. 30, 1950 
and ending before Nov. 1, 1951. 

^Calendar year 1950,.- 

Fiscal years ending after Dec. 31, 1949 and 
I before Oct. 1, 1950. 

Calendar years 1948-1949 

Calendar years 1946-1947. 

Calendar years 1944-1945.. 



Normal 
tax rate * 



Percent 

3.0 

3.0 
3.0 

3.0 

3.0 

3.0 
3.0 



Graduated surtax rates ' at- 



Lowest bracket of sur- 
tax income, not 
over- 
fa) $2,000 for sin- 
gle person 

(b) $2,000 for head 

of household ' 

(c) $4,000 for 

married cou- 
ple filing 
jointly ' 



Percent 



17.4 
17.0 



17.0 
17.0 



17.0 
20.0 



Highest bracket of sur- 
tax income, over — 

(a) $200,000 for 

single person 

(b) $300,000 for 

head of 
household ' 
(r.) $400,000 for 
married cou- 
ple filing 
jointly * 



Percent 



88.0 
88.0 



88.0 
88.0 



88.0 
91.0 



Combined normal tax 
and surtax rates " at — 



Lowest 

bracket of 

surtax 

income 



Percent 

22.2 

20.4 
20.0 

17.4 

16.6 

19.0 
23.0 



Highest 

bracket of 

surtax 

income 



Percent 

92.0 

91.0 
91.0 

84.4 

82.1 

86.5 
94.0 



Maxi- 
mum 
rate 
limita- 
tion i« 



87.2 
87.0 



80.0 
77.0 



85.5 
90.0 



1 For income years 1913-43, see Statistics of Income for 1950, Part 1, 
pages 308-309 and 318-321. 

2 Revenue Acts passed after Feb. 10, 1939 (the date of the enactment 
of the Internal Revenue Code of 1939) are not complete taxing 
statutes in themselves, but consist of amendments to the Code. 
There is no one effective date for all provisions of each act; some 
of the provisions are retroactive, others apply to the current tax 
period, while still others are effective for future taxable years. 

' In the case of a rate change during fiscal years not shown, the 
total tax is prorated; for fiscal years beginning before Oct. 1, 1950, and 
ending after Sept. 30, 1950, a tentative tax is computed under the law 
in effect for each taxable year and the two tentative taxes are then 
prorated according to the number of calendar months before Oct. 1. 
1950 and after Sept. 30, 1950; similarly, for fiscal years beginning 
before Nov. 1, 1951 and ending after Oct. 31, 1951, the tentative taxes 
are prorated according to the number of months before Nov. 1, 1951 
and after Oct. 31, 1951. 

* (a) Tax rates are applied to net income after deducting the 
credits against net income, as explained in notes 5 and 6; the tax 
thus computed Is before the tax credits listed in note 10. Net income 
means the excess of gross income over deductions as defined in the 
various revenue acts. For net Income for fiduciary returns, see table 
A, note 4(d). 

An optional standard deduction is provided in lieu of nonbusiness 
deductions. If the adjusted gross income (see note 4 (t>)) is less 
than $5,000, the standard deduction is approximately 10 percent 
thereof and is allowed automatically through use of the optional 
tax. If the adjusted gross Income is $5,000 or more, the standard 
deduction for 1944-^7 is $500 and for 1948 and thereafter is the 
smaller of $1,000 or 10 percent of the adjusted gross income, except 
that for a married person filing a separate return the standard deduc- 
tion is $500. A married person is not allowed the standard deduction 
if his spouse itemizes deductions. Citizens deriving a large percent- 
age of their income from sources within a possession of the United 
States are not allowed the standard deduction. (In Statistics of 
Income neither the net income nor the standard deduction is tabu- 
lated for those individuals who elect the standard deduction.) No 
deductions are reported on Form W-2 for 19 41 1 7 or Form 1040A 
for 1948 and thereafter and no nonbusiness deductions on short-form 
1040; however, the optional tax on such returns makes allowance for 
deductions. (See note 4 (d).) 

Variations in other deductions provided by the 1939 Code occurred 
between 1944 and 1952 with respect to: 

Amortization of emergency facilities. (Sec. 23 (t) and 172.) (The 
amount of amortization deduction, tabulated separately in 
Statistics of Income for 1945 only, is included in business deduc- 
tions.) 
Loss on sale or exchange of capital assets. (See table C.) 
Net operating loss. (Sec. 23 (s) and 170.) (The net operating 
loss deduction, tabulated separately among business deductions 
In Statistics of Income for 1945 only and among sources of 
Income and loss for 1951 and thereafter, is only the amount 
carried forward.) 
Medical expenses. (Sec. 23 (x).) 
Blindness. (Sec. 25 (b) and 23 (y).) 
Bad debts. (Sec. 23 (k).) 

Charitable and other contributions. (Sec. 23 (o) .) 
(b) Adjusted gross income means gross income minus certain of 
the deductions (other than allowable nonbusiness expenses which 
are deductible from the adjusted gross Income to arrive at net income) 
allowed by section 23 In computing net income as follows: 

Trade and business deductions of a taxpayer other than an 

employee. 
Expenses of travel, meals, and lodging Incurred by an employee 

while away from home in connection with employment. 
Reimbursed expenses in connection with employment. 
Deductions attributable to rents and royalties. 

Depreciation and depletion allowed a life tenant or Income bene- 
ficiary of property held In trust. 
Allowable losses from a sale or exchange of property. 
For taxable years beginning after Oct. 19, 1951, 50 percent of the 
excess of net long-term capital gain over net short-term capital 
loss. 



(c) Before 1948, on a Joint return of married persons, tax rates are 
applied to the combined incomes. For 1948 and thereafter, the com- 
bined normal tax and surtax is twice the combined normal tax and 
surtax that would be determined if the total net income of husband 
and wife and the applicable credits against net income, listed in 
notes 5 and 6. were reduced by one-half. 

{d) In lieu of the normal tax and surtax imposed by sections 11 
and 12 of the 1939 Code, a citizen or resident may elect to pay the 
optional tax under section 400 (also see table A, note 4 (a)) if his 
adjusted gross income is less than $5,000. The optional tax or the 
standard deduction is not allowed to either husband or wife if the 
net income of one of the spouses is determined without regard to 
the standard deduction. Beginning 1951, a head of household loses 
a possit'.e benefit if he files Form 1040A since his optional tax is 
computed by the district director of internal revenue without regard 
to his status as head of household. The optional tax makes allowance 
for exemptions and standard deduction. Ten percent of the midpoint 
of each income bracket is allowed for the deductions, after which 
the tax is computed in the regular manner and rounded to the 
nearest dollar. 

The optional tax table for 1952 is among the facsimiles of return 
forms on page 98. For tables 1941-50, see Statistics of Income for 
1950, pages 323-328. 

In case of an optional tax change during a fiscal year, the optional 
tax is prorated in the same manner as provided for the regular tax. 
The optional tax is applicable for taxable years of less than 12 months 
If the short period is not due to a change in accounting period. 

(e) For 1946 through calendar year 1950, the normal tax and 
surtax rates result in tentative normal tax and surtax (see note 9). 

■'■ The normal tax rate is applied to the balance of net income after 
deducting the following credits (however, for optional tax paid in 
lieu of normal tax and surtax, see note 4 (d) ) : 

(a) Normal-tax exemption (for taxpayer and spouse), 1944-45, 
and all exemptions, 1946 and thereafter. 

(b) Dividends on share accounts in Federal savings and loan asso- 
ciations issued prior to Mar. 28, 1942. 

(c) Interest on obligations issued after Sept. 1. 1917 and before 
Mar. 1, 1941, by the United States or any instrumentality thereof 
(other than Treasury notes of the National defense series) to the 
extent that such interest is required to be included in gross income. 

" Surtax rates are applied to surtax net income which for 1944-45 is 
net income less surtax exemption (for taxpayer, spouse, and depend- 
ents), and for 1946 and thereafter is net income less all exemptions. 

If taxpayer elects to pay the alternative tax, net Income subject 
to surtax does not include net long-term capital gain or the excess 
of net long-term capital gain over net short-term capital loss for 
taxable years beginning before Oct. 20, 1951, nor 50 percent of the 
excess long-term capital gain thereafter (see table C) . 

' A head of household status is applicable for taxable years begin- 
ning after Oct. 31, 1951 and receives approximately one-half of the 
benefits of Income-splitting accorded to a married couple filing a 
Joint return. A head of household is an unmarried individual who 
furnishes over one-half of the maintenance of a home which is the 
principal residence of his unmarried descendant or stepchild or of 
any person whom he claims as a dependent. 

" Before 1948, the lowest bracket of surtax net Income for a married 
couple filing Jointly is $2,000, and the highest bracket is $200,000. 

"For 1946 through calendar year 1950, the combined rates shown 
are after tax reductions, and the rates so computed are rounded. 
For 1946 and 1947, the tentative normal tax and surtax are reduced 
by 5 percent thereof. For taxable years beginning after Dec. 31, 1947 
and ending before Oct. 1, 1950, the combined tentative normal tax 
and surtax is reduced by 17 percent of the first $400, plus 12 percent 
of the next $99,600, plus 9.75 percent of the excess over $100,000. 
For calendar year 1950, the combined normal tax and surtax is re- 
duced by 13 percent of the first $400, plus 9 percent of the next 
$99,600, plus 7.3 percent of the excess over $100,000. 

'" The rate limitation shown is the combined normal tax and surtax 
after tax reduction, if any (see note 9), but before tax credits, as 
percent of net income. The tax credits relate to income tax paid 
at source on Interest from tax-free covenant bonds and to income 
tax paid to a foreign country or possession of the United States. 
(Sections 32, 31, 168, 216, and 251 (h) of the 1939 Code.) 



SYNOPSIS OF LAWS, 1944-1952 91 

Table C— PROVISIONS PERTAINING TO CAPITAL GAINS AND LOSSES UNDER THE INDIVIDUAL AND FIDUCIARY INCOME TAX LAW. 1944-52' 



Federal tax law: Rev- 
enue acts amending 
Code 2 (date of en- 
actment) 



Revenue Act of 1951 
(Oct. 20, 1951). 



Revenue Act of 1950 
(Sept. 23, 1950). 

Individual Income 
Tax Act of 1944 
(May 29, 1944). 



Income year 



[Taxable years 
I beginning aft- 
er Oct. 19, 
1951. 



Taxable years 
I beginning be- 
f fore Oct. 20, 
1951. 



DefinitiGn of capital assets 



(1) All property, whether or not connected with 

trade or business, except: 

(a) stock in trade or other property which 

would properly be included in inven- 
tory, 

(b) property held primarily for sale to cus- 

tomers in ordinary course of trade or 
business, 

(c) property used in trade or business of a 

character which is subject to allowance 
for depreciation. 

(d) real property used in trade or business, 

(e) Government obligations issued on or 

after Mar. 1, 1941, on a discount basis 
and payable without interest at a fixed 
maturity date not exceeding 1 year 
from date of issue, and 

(f) a copyright, a literary, musical, or artis- 

tic composition, or similar property 
(but not a patent or invention) created 
by the taxpayer. 

(2) Gains and losses are considered as from capi- 

tal assets, under certain conditions, with 
respect to: 

(a) Worthless stock and other securities. 

(Sec. 23(g) (2) and 23 (k) (2)). 

(b) Nonbusiness bad debts. (Sec. 23 (k) (4)). 

(c) Retirement of certain bonds, etc. (Sec. 

117(f)). 

(d) Short sales. (Sec. 117 (g) and 117 (D). 

(e) Failure to exercise options. (Sec. 117 (g)). 

(f) Sale, exchange, and involuntary conver- 

sion of property used in trade or busi- 
ness *, and involimtary conversion of 
capital assets, all held more than 6 
months, if gains exceed losses. (Sec. 
117 (j)). 

(g) Sales or exchanges of securities by deal- 

ers, only if identified for investment.* 
(Sec. 117 (n).) 

(h) Certain termination payments to em- 
ployee. (Sec. 117 (p).) 

(i) Total distribution of employees' trust 
on separation. (Sec. 165 (b).) 

(3) Gains and losses are not considered as from 

capital assets, under certain conditions, 
with respect to: 

(a) Tax-exempt sale or exchange of resi- 

dence. (Sec. 112 (n).) 

(b) Certain gains from sale or exchange of 

amortized emergency facilities. (Sec. 
117(g) (3).) 

(c) Property referred to in item (2) (f) above, 

if losses exceed gains. 

(d) Gain from certain sales or exchanges of 

stock in a collapsible corporation. 
(Sec. 117 (m).) 

(e) Gain from sale or exchange of depreciable 

property between spouses or between 
an individual and a controlled cor- 
poration. (Sec. 117 (o).) 

(f) Loss from wash sales of stock or securi- 

ties, not deductible. (Sec. 118.) 
Same as 1951 act except: * 

(1) (f) was added for taxable years begiiming 
after Sept. 23, 1950, 

(2) (g) was added for transactions made after 
Nov. 19, 1951, 

(2) (h) was added for ta.xable years beginning 
after 1950, 

(3) (a) was added for taxable years ending 
after 1950, 

(3) (b) was added for taxable years endhig 

after 1949, 
(3) (d) was added for gains realized after 

1949, and 
(3) (e) was added for transactions made after 

May 3, 1951. 



Period held 



Percent- 
age of gain 

or loss 
taken into 

account 



Short-term : 
6 months 
less. 



Long-term: 
More than 6 
months. 



Short-term: 
6 months 
less. 



Long-term: 
More than 6 
months. 



Treatment of capital gain 3 



[Net short-term capital gain 
is fully taxable at the nor- 
mal tax and surtax rates. 

If the net long-term capital 
gain exceeds the net short- 
term capital loss, there is al- 
lowed as a deduction from 
gross income an amount 
equal to 50 percent of the 
excess long-term gain. 
The entire excess is taxed 
at 26 percent ^ if the alter- 
native tax is less than the 
regular normal tax and 
surtax. Alternative tax 
is computed on net in- 
come reduced for this pur- 
pose by 50 percent of the 
excess long-term capital 
gain, at regular normal tax 
and surtax rates, plus 26 
percent * of the excess 
long-term gain. 



Net short-term capital gain is 
fully taxable at the normal 
tax and surtax rates. 

Net long-term capital gain 
or the excess of net long- 
term capital gain over net 
short-term capital loss is 
taxed at 50 percent, if such 
tax plus the tax on net 
income reduced by such 
capital gain (alternative 
tax) is less than the regu- 
lar tax on net Income; 
otherwise, such capital 
gain is taxed at normal 
tax and surtax rates. 



Treatment of capital loss ^ 



Net loss from sales of capital 
assets resulting from the 
combination of net short- 
and long-term gain and loss 
is allowable as a deduction 
for the current year to the 
extent of $1,000 or the net 
income (computed without 
regard to capital gain or 
loss), whichever is smaller. 
The amount not allowable 
in the current year is the 
"net capital loss" to be 
carried forward as a short- 
term capital loss in each of 
the five succeeding years to 
the extent that such carry- 
over exceeds the total net 
capital gains ^ of any tax- 
able years intervening be- 
tween the year in which the 
net capital loss arose and 
such succeeding years. If 
tax is determined from op- 
tional tax table, adjusted 
gross income is substituted 
for net income for the limi- 
tation on capital loss de- 
duction and for the compu- 
tation of net capital gain.' 



Same as 1951 act. 



* For Income years 1922-43, see Statistics of Income for 1950, Part 1. 
pages 330-331. 

- Revenue Acts passed after Feb. 10, 1939 (the date of the enactment 
of the Internal Revenue Code of 1939) are not complete taxing 
statutes In themselves, but consist of amendments to the Code. There 
is no one effective date for all provisions of each act; some of the 
provisions are retroactive, others apply to the current tax period, 
while still others are effective for future taxable years. 

^ These treatments apply to the net amount, that is, the net gain 
or the net loss, of each taxpayer, resulting from the sales of all 
capital assets in a similar category. 

' "Property used in trade or business" includes real property and 
depreciable property not Inventoriable or held primarily for business 
sale, all held more than 6 months; excludes items (l)(f), (3)(b), 



and (3)(e) in the table; Includes cutting of certain timber (also 
coal, beginning 1951 ) disposed of by the owner under a contract by 
which he retains an economic interest in such property; certain un- 
harvested crops for taxable years beginning after 1950, and livestock 
held for draft, breeding, or dairy purposes for 12 months or more (6 
months, for taxable years beginning before 1951) . 

■■Effective for transactions made after Nov. 19, 1951. 

"25 percent for taxable years beginning after Oct. 19. 1951, and 
before Nov. 1. 1951. 

'Net capital gain is the excess of (1) the sum of the gains from 
sales or exchanges of capital assets, plus net Income of the taxpayer 
(computed without regard to capital gains or losses) or $1,000. which- 
ever is smaller, over (2) the losses from such sales or exchanges. 



371897 O - 56 



92 



SYNOPSIS OF LAWS, 1944-1952 

Table D— REQUIREMENTS FOR FIUNG RETURNS AND TAX RATE UNDER THE SELF-EMPLOYMENT TAX LAW. 1951-52 



Federal tax law: Acts amending Code ' ^dale of enactment) 



Social Security Act Amendments of 1950 (Aug. 28, 1950) 1951-52 



Income year 



Self-employment 
net earnings - re- 
quirements for 
filing returns 3 



Dollars 



400 



Maximum amount 
subject to self- 
employment tax 



DollaTK 



3.600 



Tax rate on self- 
employment in- 
come ' 



Percent 



2M 



' Acts containing amendments to the Internal Revenue Code en- 
acted Feb. 10, 1939. There is no one efTectlve date for aJl provisions 
of each act; some of the provisions are retroactive, others apply to 
the current tax period, while still others are effective for future 
taxable years. 

= Net earnings from self-employment Is gross Income derived from 
trade or business less allowable deductions attributable thereto plus 
share of partnership Income (or loss). Excludes Income from services 
as public official, railroad worker, minister or member of religious 
order, or employee, and Income from farming, certain professions, 
Interest and dividends received from securities and real estate rentals 
except those of dealers, and gain or loss from sale or exchange of 
capital assets and from disposition of other property. Net operating 
losses and business property casualty losses are not allowable deduc- 
tions. Net earnings of less than $400 are excluded from self -employ- 
ment income and not subject to tax. 



'Beginning 1951, a citizen or resident of the United States, or a 
resident of the Virgin Islands or of Puerto Rico, having net earnings 
from self -employment of $400 or more is required to file a return. 

The amount of income for which married persons are required to 
file a return is the separate net earnings of husband or wife. The 
self -employment tax of husband and wife filing a Joint return Is the 
sum of the taxes computed on the separate self-employment Income 
of each spouse. 

Returns are permitted for a fiscal year other than that ending 
Dec. 31. 

Members of the Armed Forces may defer filing returns under cer- 
tain conditions. (Sec. 53 and 3804 of the 1939 Code.) 

' Self-employment Income is the amount of the net earnings from 
self-employment not In excess of $3,600 minus any wages received 
from which social security tax has been withheld by the employer. 



Facsimiles of 

Income Tax 

Returns 

for 1952 



Page 

Form 1040: Individual Income Tax Return 95 

Schedule C (Business) 111 

Schedule D (Capital gains and losses) 115 

Form 1040A: Employee's Optional Income Tax Return 117 

Form 1041: Fiduciary Income Tax Return 119 

94 



FORM 1040 

U. S. Treasury Department 
Internal Revenue Service 



FACSIMILES OF TAX RETURNS FOR 1952 

U. S. INDIVIDUAL INCOME TAX RETURN 

FOR CALENDAR YEAR 1952 

or taxable year beginning -— , 1952, and ending ,- „ , 195.— 



95 



1952 



Name 

(PLEASE PRINT. If this is a joint return of husband and wife, use first names of both) 

HOME ADDRESS 

(PLEASE PRINT. Street and number or rural route) 



(City, town, or post office) 



(Postal zone number) 



(State) 



Social Security No — Occupation 



Do not write In these spans 

Serial 
No. 

(Cashier's Stamp^ 



Your 
exemp- 
tions 



List your name. If your wife (or husband) 
had no income, or if this is a joint return, 
list also her (or his) name. 



Checli below if at the end of 

your taxable year you or 

your wife were — 

65 or over D Blind Q 

65 or over D Blind D 



On lines A and B below- 
If either 65 or blind write the figure 2 A 



if neither 65 nor blind write the figure 1 
65 or blind write the figure 2 
if both 65 and blind write the figure 3 



Numljer of exemptions for you 

Number of her (or his) exemptions . 



Name — »id atldrus if dUlenil frwn jtm 



I 
I 

5 

i 



<^Your 
X in- 
I come 

I 

I 

How to 
figure 
the tax 



Tax 
due or 
refund 



A -- -- - -- 

B -- 

(Your wife's name — donot list if exemption isclaimed on another return) 

C. List names of your children (includ- 
ing stepchildren and legally adopted 
children) with 1952 gross incomes of 
less than $600 who received more 
than one-half of their support from 
you in 1952. See Instructions. J Enter number of children listed. 

D. Enter number of exemptions claimed for close relatives hsted in Schedule I on page 2 

E. Enter total number of exemptions claimed in A to D above 

•2. Enter your total wages, salaries, bonuses, commissions, and other compensation received in 1952, before pay- 
roll deductions. Persons claiming traveling or reimbursed expenses, see Instructions. 

Prill Emrl<;er't Name Wheie Emplcred (Cllr and State) Total Waiei 

$- 



$- 



$- 



iDceine Tai WIttihtM 



$- 



Enter total ~^ 

3. If you received dividends, interest, or any other income, give de- 

tails on page 2 and enter the total here 

4. Add income shown in items 2 and 3, and enter the total here .... 
•(Before figuring your tax, see Schedule J for "Head of Household." If you claim such status, check here DO 
IF YOUR INCOME WAS LESS THAN $5,000.— Use the tax table on page 4 unless you itemize deductions. The table allows 
about 10 percent of your income for charitable contributions, interest, taxes, medical expenses, etc. If your deduc- 
tions exceed 10 percent, it will usually be to your advantage to itemize them and compute your tax on page 3. 
IF YOUR INCOME WAS $5,000 OR MORE.— Compute tax on page 3- Use standard d eduction or itemize deductions, which- 
ever is to your advantage. 

■5. (A) Enter your tax from table on page 4, or from line 13, page 3 - 
(B) Enter your self-employment tax from line 35, separate Schedule C. 

6. How much have you paid on your 1952 income tax? 

(A) Bytaxwithheld(initem2, above). Attach Original Forms W-2. 

(B) By payments on 1952 Declaration of Estimated Tax (include 
any overpayment on your 1951 tax not claimed as a refund) . 



$... 



Enter total here a^ 



$- 



$- 



7. 



Enter total here ^ 



If your tax (item 5) is larger than payments (item 6), enter 

balance of tax due here. This balance must be paid in full with return 

8. If your payments (item 6) are larger than your tax (item 5), enter the overpayment here 
Enter amount of item 8 you want $ - $- 



$- 



(Refunded) 



(Credited on 19i3 estimated tax) 



Do you owe any prior year Federal tax for which you have been billed? (Yes or No) Is your wife (or husband) 

making a separate return for 1952? (Yes or No) If "yes," write her (or his) name 

If you have filed a return for a prior year, state latest year Where filed? - 

To which director's (formerly collector's) office did you pay amount claimed in item 6 (B), above? - 

I declare under the penalties of perjury that this return (including any accompanying schedules and statements) has 
been examined by me and to the best of my knowledge and belief is a true, correct, and complete return. 



(Signature of person, other than taxpayer, preparing this return) 



(Date) 



(Signature of taxpayer) 



(Date) 



(Name of firm or employer, if any) (Signature of taxpayer's wife or husband if this is a joint return) (Date) 

To assure split-income benefits, husband and wife must include all their income and, eren though only one has income, BOTH MUST SIGN. is — eS304r4 



96 



FACSIMILES OF TAX RETURNS FOR 1952 

Schedule A.— INCOME FROM DIVIDENDS 



ntmtltmfnamiKbi^MittMnt 



Page 2 



Hum il ctrporMgn decUriiif iIIiMm< 



AncUDt 



$- 



Amount 



$- 



Enter total h«re<B^ 



Nun il mv 



SclMduto B.— INCOME FROM INTEREST 

AmHt Nimt •) ma 



AxmnI 



Enter total heroa^ 



Schedule C Summary.— PROFIT <OR LOSS) FROM BUSINESS OR PROFESSION, FARMING, AND PARTNERSHIP 



1. Business profit (or loss) from separate Schedule C, line 23 

2. Farm profit (or loss) from separate schedule. Form 1040F 

3. Pannership, etc., profit (or loss) from Form 1065, Schedule K, Column 3. 



(Partnership name) 



(Address) 



4. Total of lines 1, 2, 3 

5. Less: Net operating loss deduction (attach statement) 

6. Net profit (or loss) (line 4 less line 5) 



$- 



$-- 



Schedule D.— NET GAIN OR LOSS FROM SALES OR EXCHANGES OF CAPITAL ASSETS, ETC. 

1. From sale or exchange of capital assets (from separate Schedule D) 

2. From sale or exchange of property other than capital assets (from separate Schedule D). 



Schedule E.— INCOME FROM ANNUITIES OR PENSIONS 



1. Cost of annuity (amount you paid). 

2. Cost received tax-free in past years . 

3. Remainder of cost (line 1 less 

line 2) 



$- 



$- 



4. Amount received this year. 

5. Excess of line 4 over line 3 . 

6. Enter line 5, or 3 percent of line 1, which- 

ever is greater (but not more than line 4). 



Schedule F.— INCOME FROM RENTS AND ROYALTIES 



1. Kwt anil iKitJon id 



1. Totals $ 



2. Amcunt ot rnt or 
loyalty 



3. DepreclaCon or deplelloa 
(oiplain In Sclieilolo H) 



$ 



4. Repalri (attach 
statement) 



$ 



S. Othor eiponsoi (attacli 
statoment) 



2. Net profit (or loss) (column 2 less sum of columns 3, 4. and 5). 



Schedule G .—INCOME FROM ESTATES AND TRUSTS AND OTHER SOURCES 

1. Estate or trust „._ _ _ 

_ , , >^ (Name) (Address) 

2. Other sources (state nature) 



Total income (or loss) from above sources (Enter here and as item 3, page 1) ? 



Schedule H.— EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED IN SCHEDULE F 



t. Kind of property (II bulldlnis, stato matorial ot 

■tilch construtted). Eiclude land and oUiec 

nondepreciable property 



2. Oato 
aagulred 



3. Cost or ittier tasis 



4. Depreciation al- 
lowed (or allowable) 
In prior years 



5. Remalnlni cost or 

oHier basis to be 

reconrod 



6l llfo used in 
accumulatini 
depreciation 



7. Estimated nie 

(rem bofinnlni 

of year 



t Dopradatio* 
allowable tbis year 



Schedu 


le l.-EXEMPTIONS 

2. RelatJoiishIr 


FOR CLOSE RELATIVES— (See Instructions) 

3. Did dependent durint 1952- 


4. If answer to either 3(b) or 3(c) Is "No" 
enter amount spent lor dependent's support 


1. Name d dependent relabn. Also |l*a 


(a) 
Hafo tross Incomt 
ol iCtIO or morel 


(b) 

Reside in your 

homol 


(c) 

Receive entire support 

Irom ftot 


bi 1952 by- 


address II dillerent Iron yours 


Yon (and your wile It 
this Is a lolnt return) 

$ 


Others, and by depend • 
ont Irom own lunds 

$ 






























Enter here and as item ID, page 1, the number of close relatives claimed above I I 



1. Were you unmarried (or legally separated) at the close of your 

taxable year? (Yes or No) 

2. Did any person for whom you are entitled to an exemption, or your 

unmarried child, grandchild, or stepchild, even though not a 
dependent, share during your entire taxable year your home which 

was your principal residence? (Yes or No) 

List name(s) and relationship to you 



Schedule J.— HEAD OF HOUSEHOLD (See Initructlon*) 

(Not applicable where wife or husband died during taxable year) 



Did you furnish more than one half of the cost of maintaining the 

household during the taxable year? (Yes or No) 

If you did not furnish the entire cost, state total amount fur- 
nished by you $ ; by all others (including 

those sharing your home) $ — 

If all of the above questions are answered "Yes," you may deter- 
mine your tax as Head of a Household. aro le— 6^304-2 



FACSIMILES OF TAX RETUENS FOR 1952 



97 



ITEMIZED DEDUCTIONS— FOR PERSONS NOT USING TAX TABLE ON FACE 4 OR STANDARD DEDUCTION ON LINE 2 BELOW- 

If Husban d and Wife (Not Legally Separated) File Separate Returns and One Itemizes DedactioDS, the Other Must Also Itemize 
^^~~~~' Discrlte OidiictMi nil sbtt U whM pid. If mm qaa Is auitt, ittKk aiMllMil slwett. 



Pact 3 



Contributiofls 



Interest 



Allowable Contributions (not in excess of 20 percent of item 4, page 1) . 



$- 



Total Interest . 



Taxes 



Total Taxes . 



Losses from 
M, storm, or 
other casual- 
ty, or ttieft 



Total Allowable Losses (not compensated by insurance or otherwise). 



Medical 

and dental 

expenses 

{if over 65 see 
Instructions) 



Miscel- 
laneous 

(See 
Instructions) 



Net Expenses (not compensated by insurance or otherwise) 

Enter 5 percent of item 4, page 1, and subtract from Net Expenses. 

Allowable Medical and Dental Expenses. See Instructions for limitation. 



Total Miscellaneous Deductions. 



Total Deductions $ 

TAX COMPUTATION— FOR PERSONS NOT USING TAX TABLE ON PAGE 4 

1. Enter amount shown in item 4, page 1. This is your Adjusted Gross Income 

2. If deductions are itemized above, enter total of such deductions. If deductions are not itemized 

and line 1, above, is $5,000 or more: (<*) married persons filing separately enter $500, (i) all 
others enter 10 percent of line 1, but not more than $1,000 

3. Subtract line 2 from line 1. Enter the difference here. This is your Net Income 

4. Multiply $600 by total number of exemptions claimed in item IE, page 1. Enter total here . . 

5. Subtract line 4 from line 3. Enter difference here. (If line 1 includes partially tax-exempt 
interest, see Instructions) 



II Una 5 Is not more than $2,000 

6. Enter 22.2 percent of amount shown on line 5 and disregard lines 7, 8, and 9. 



II line S Is more than {2,000 

7. And you are a single person, a married person filing separately, or a head of household 



Single persons and married persons fiiing separately use Tax Rate Schedule I on page 12 of 
Instructions to figure tax on amount on line 5; heads of household use Tax Rate Schedule II 
8. And you are lilinE a Joint return 



(<») Enter one-half of amount on line 5 

(i) Use Tax Rate Schedule I on page 12 of Instructions to figure tax on 

amount on line 8 (a) 

(c) Multiply amount on line 8 (J>) by 2. 



$ 



9. If alternative tax computation is made, enter here tax from separate Schedule D. 



Disregard lines 10, 11, and 12, and copy on Rne 13 the same figure you entered on Hne 6, 7, 8 (c), or 9, unless you used itemized deductions 

10. Enter here any income tax payments to a foreign country or U. S. possession 

(attach Form 1116) 

11. Enter here any income tax paid at source on tax-free covenant bond interest . 

12. Add the figures on lines 10 and 11 and enter the total here 



$-. 



13. Subtract line 12 from line 6, 7, 8 (c), or 9- Enter difference here and as item 5 (A), page 1 . 



Ift— 653M-a 



98 



FACSIMILES OF TAX RETURNS FOR 1952 



If you use this table, tear off this page and file only pages 1 and 2 

TAX TABLE FOR CALENDAR YEAR 1952 

FOR PERSONS WITH INCOMES UNDER $5,000 NOT COMPUTING TAX ON PAGE 3 

Read down the shaded columns below until you find the line covering the total income you entered in item 4, page 1. Then read across to the appropriate 
column headed by the number corresponding to the number of eiemptions claimed in item 1 E, page 1. Enter the tax you lind there In item 5(A), Page 1. 



Page 4 



ir H»2t inumt in 
ilMHwel.iJ- 


Ami Ihe number of e»mpl 
claimFdinlttmlE. paid. 


ons 
is— 


It Mai intone in 
Aen 4, ftf 1, is— 








And the aumter ot esemptlon 


claimed In item IE, 


paie 1, is- 








At least 


But less 
than 


1 


2 


3 


4 or 
more 


At least 


But less 
than 


1 

And you are— 


2 

And you are— 


3 
And you are— 


4 


5 


6 


7 




Sinfle 
era 
married 
person 
ruint 
separately 


Ahead 

Ola 

household 


Sinile 

era 

married 

person 

(iliOf 

separately 


Ahead 

Ola 

household 


A 

married 
couple 
filint 
loiiOy 


Simle 
era 

married 

separably 


Ahead 
Ola 

bouseheM 


A 

married 
CMifle 

turn 

loinUy 


8ir 

mm 


Your tail's— { 


Your tai is— 


99 
675 


$675 
700 


$0 
4 


$0 



$0 



$0 



$2,325 l$2,350 
2,350 i 2,375 


.S334 
339 


.$334 
339 


$201 
206 


$201 , 
206 ; 


$201 
206 


$67 i 
72 i 


$67 i 
72 j 


867 
72 


$0 



$0 



$0 



$0 



$0 



700 
725 
760 
775 


725 
750 

775 
800 


9 

14 
19 
24 




















2,375 
2,400 
2,425 
2,450 


2,400 
2,425 
2,450 
2,475 


344 
349 
354 
359 


344 
349 
354 
359 


211 • 
216 
221 
226 


211 ' 
216 : 
221 
226 ' 


211 
216 
221 
226 


77 : 
82 : 
87 • 
92 j 


77 i 
82 i 
87 1 
92 i 


77 
82 
87 
92 

































800 
825 
850 
875 


826 
850 
875 
900 


29 
34 
39 
44 




s 
















2,475 
2,500 
2,525 
2,650 


2,500 
2, 526 
2,660 
2,575 


364 
369 
374 
379 


364 
369 
374 
379 


231 
236 
241 
246 


231 
236 
241 
246 


231 
236 
241 
246 


97 : 
102 i 
107 1 
112 i 


97 ! 
102 1 
107 ; 
112 i 


97 
102 
107 
112 
































900 
925 
950 
976 


925 

950 

975 

1,000 


49 
54 
59 
64 




















2,576 
2,600 
2,626 
2,660 


2,600 
2,625 
2,650 
2,675 


384 
389 
394 
399 


384 
389 
394 
399 


251 
256 
261 
266 


251 
256 
261 
266 


251 
256 
261 
266 


117 i 
122 ' 
127 
132 


117 i 
122 i 
127 i 
132 : 


117 
122 
127 
132 
































1,000 
1.026 
1,050 
1, 075 


1,025 
1,050 
1,075 
I. 100 


69 

74 
79 

84 




















2,676 
2.700 
2,725 
2.750 


2,700 
2,725 
2,750 
2,775 


404 
409 
414 
419 


404 
409 
414 
419 


271 
276 
281 
286 


271 
276 
281 
286 


271 
276 
281 
286 


137 
142 
147 
152 


137 i 
142 ! 
147 ■ 
152 . 


137 
142 

147 
152 


4 

9 

14 

19 


























i.im 

1,125 
1,160 
1.176 


1,125 
1,150 
1,175 
1,200 


89 

94 

99 

104 




















2,776 
2,800 
2,825 
2,850 


2,800 
2,825 
2,850 

2,875 


424 
429 
434 
439 


424 
429 
434 
439 


291 
296 
301 
306 


291 
296 
301 
306 


291 
296 
301 
306 


157 
162 
167 
172 


157 1 
162 , 
167 
172 


157 
162 
167 
172 


24 
29 
34 
39 


























1, 200 
1.225 
1,250 
1,275 


1,226 
1,260 
1,276 
1.300 


109 
114 
119 
124 




















2.875 
2,900 
2.925 
2.950 


2,900 
2,925 
2,960 
2,975 


444 
449 
455 
460 


444 
449 
454 
459 


311 
316 
321 
326 


311 
316 
321 
326 


311 
316 
321 
326 


177 
182 
187 
192 


177 
182 
187 
192 


177 
182 
187 
192 


44 
49 
54 
59 


























1,300 
1,325 
1,360 
1.375 


1,325 
1.350 
1,375 
I, 400 


129 
134 
139 
144 




1 

6 

11 














2,975 
3,000 
3. 050 
3, 100 


3,000 
3,060 
3,100 
3,150 


466 
474 
485 
496 


465 
473 
483 

494 


331 
338 
348 
358 


331 
338 
348 
358 


331 
338 
348 
358 


197 
205 
215 
225 


197 
205 
215 
225 


197 
205 
215 
225 


64 
72 
82 
92 


























1, 400 
1.425 
1,450 
.1. 475 


1,425 
1,450 
1,475 
1,600 


149 
154 
159 
164 


16 
21 
26 
31 














3,150 
3.200 
3.250 
3,300 


3,200 
3,250 
3,300 
3,350 


507 
518 
529 
541 


504 
515 
525 
536 


368 
378 
388 
398 


368 
378 
388 
398 


368 
378 
388 
398 


235 
245 
255 
265 


235 
245 
255 
265 


235 
245 
255 
265 


102 
112 
122 
132 


























1,500 
1,525 
1,560 
1,575 


1.525 
1,550 
1,575 
1, 600 


169 
174 
179 
184 


36 
41 
46 
51 














3,350 
3, 400 
3,450 
3,500 


3,400 
3,450 
3,500 
3,550 


552 
563 
574 
585 


546 
557 
567 
5T8 


408 
418 
428 
438 


408 
418 
428 
438 


408 
418 
428 
438 


275 
285 , 
295 
305 


275 
285 
295 
305 


275 
285 
295 
305 


142 
152 
162 
171 


8 
18 
28 
38 




















1.600 
1,625 
1, 650 
1,675 


1,625 
1,650 
1,675 
1,700 


189 
194 
199 
204 


56 
61 
66 
71 














3,560 
3,600 
3,650 
3,700 


3,600 
3,650 
3,700 
3,750 


596 
607 
618 
629 


588 
599 
610 
620 


448 
459 
470 
482 


448 
459 
469 
480 


448 
458 
468 
478 


315 

325 
335 
345 


315 
325 
335 
345 


315 
325 
33S 
345 


181 
191 
201 
211 


48 
58 
68 
78 




















1,700 
1,725 
1,760 
1,775 


1, 725 
1,760 
1,776 
1,800 


209 
214 
219 
224 


76 
81 
86 
91 














3,750 
3,800 
3,850 
3,900 


3,800 
3,850 
3,900 
3,950 


640 
651 
662 
673 


631 
641 
652 
662 


493 
504 
515 
526 


490 
501 
511 
522 


488 
498 
508 
518 


355 
365 
375 
385 


355 
365 
375 
385 


355 
365 
375 
385 


221 
231 
241 
251 


88 

98 

108 

118 




s 
















1,800 
1,825 
1,850 
1,875 


1,826 
1,850 
1,875 
1,900 


229 
234 
239 
244 


96 
101 
106 
111 














3,960 
4,000 
4,050 
4,100 


4, 000 
4,050 
4, 100 
4,150 


684 
696 
707 
718 


673 
683 
694 
704 


537 
548 
559 
570 


532 
543 
553 
564 


528 
538 
548 
558 


395 
405 
415 
425 


395 
405 
415 
425 


395 
405 
415 
425 


261 
271 
281 
291 


128 
138 
148 
158 




5 

15 

25 














1,900 

1 1,925 

1,950 

1.975 


1,925 
1.960 
1,975 
2,000 


249 
254 
259 
264 


116 
121 
126 
131 














4,150 
4,200 
4,260 
4.300 


4,200 
4,250 
4,300 
4,350 


729 
740 
751 

762 


715 
725 
736 
746 


581 
592 
603 
614 


574 
585 
596 
606 


568 
578 
588 
598 


435 
445 
456 
467 


435 
445 
455 
466 


435 

445 
455 
465 


301 
311 
321 
331 


168 
178 
188 
198 


35 
45 
55 
65 














2. 000 
2.025 
2,050 
2,075 


2,025 
2.060 
2,076 
2.100 


269 
274 
279 
284 


136 
141 
146 
151 


2 

7 
12 
17 








4,350 
4,400 
4,460 
4,600 


4,400 
4,450 
4,500 
4,550 


773 

784 
795 
806 


757 
768 

778 
789 


625 
636 
648 
659 


1 617 
, 627 
: 638 
; 648 


608 
618 
628 
638 


478 
489 
500 

511 


476 
487 
497 
508 


475 
485 
495 
504 


341 
351 
361 
371 


208 
218 
228 
238 


75 

85 

95 

105 














2,100 
2.126 
2,160 
2,175 


1 2. 125 
2, 160 
2,175 
2,200 


289 
294 
299 
304 


156 
161 
166 
171 


22 
27 
32 
37 








4,550 
4,600 
4,660 
4,700 


4.600 
4.660 
4,700 
4,750 


817 
828 
839 
851 


799 

810 

820 

; 831 


670 
681 
692 
703 


i 659 
i 669 
1 680 
1 690 


: 648 
; 658 
i 668 
i 678 


522 
533 
544 
555 


518 

529 

539 

. 550 


514 
524 
534 
544 


381 
391 
401 
411 


248 
258 
268 
278 


115 
125 
135 
145 






2 

12 








2,200 
2,225 
2,250 
2.276 


2,225 
2,260 
2.276 
2,300 


309 
314 
319 
324 


176 
181 
186 
191 


42 
47 
52 
57 








4,750 
4.800 
4,860 
4,900 


4,800 
4,850 
4,000 
4,950 


862 
873 
884 
895 


• 841 
! 852 
; 862 
i 873 


714 
725 
736 

747 


i 701 
; 711 
: 722 
i 732 


: 688 
i 698 
■ 708 
: 718 


566 
577 
589 
600 


i 560 
i 571 
: 581 
i 592 


554 
. 564 
; 574 
i 584 


421 
431 
441 
451 


288 
298 
308 
318 


155 
165 
175 
185 


22 
32 
42 
52 








2.300 


2.325 


329 


196 


62 





4,950 


6,000 


906 


; 883 


758 


; 743 


i 728 


611 


1 603 


• 594 


461 


328 


195 


62 






U. *. GOVERNMENT PRINTING OFriCC cor-lG — 65303-2 



FACSIMILES OF TAX EETITRNS FOR 1952 

THESE ARE YOUR 

Income Tax 
Forms for 1952 



99 



and helpful information 
on how to prepare your 
U, S. Income Tax Return 
on Form IO4O 




This pamphlet of official iDstructions 
will help you prepare your return. 
It summarizes the most important 
requirements of the law and regula- 
tions. It calls your attention to ex- 
emptions and deductions to which 
you are entitled and which reduce 
your tax. If you need more informa- 
tion, inquire at the nearest office of a 
director of internal revenue. If you 
desire a more detailed publication, 
you can obtain a booklet entitled, 
"Your Federal Income Tax," for 25 
cents from the Superintendent of 
Documents, Government Printing 
Office, Washington 25, D. C. 



100 



FACSIMILES OF TAX RETURNS FOR 1952 



Table of Contents 



Page 
How To File Your Return: 

Who must file 3 

Why you must file a return . 3 

When to file 3 

How to pay 3 

How to sign 3 

Where to get forms 3 

Where to get help 3 

Your rights of appeal 3 

How To Choose Your Re- 
turn for Simplicity and 
Lowest Tax: 

The three types of returns . 3 

Income less than $5,000.. 3 

Form r040A 3 

Short-Form 1040 3 

Long-Form 7040 3 

Income of $5,000 or more. 3 
Married persons — joint or 

separate return 4 

Are you married? 4 

Separate or joint returns. ... 4 
How to make a separate 

return 4 

How to make ajoinS return. 4 

Advantages of a joint return. 4 

Joint tax or refund 4 

Unmarried persons — Heads 

of household 4 



Page 
How To Claim Your Ex- 
emptions: 

Exemptions for you and 

wife 4 

For you 4 

For your wife 4 

In case of death 4 

Proof of blindness 4 

Exemptions for your chil- 
dren 5 

Exemptions for your rela- 
tives 5 

How To Report Your In- 
come: 

What income is taxed .... 5 
Examples of income which 

must be reported 5 

Examples of income not to 

be reported — Armed Forces, 

etc 5 

Wages, salaries, etc ....... 3 

Report total wages before 

payroll deductions 5 

Tips and gratuities 5 

Payment in merchandise, etc. 5 

Meals and living quarters. . 5 

Travel expenses of employees . 5 
Reimbursed expenses other 

than travel 6 



Page 

Other expenses of employees . 6 

Going to and from work .... 6 

Dividends 6 

Interest 6 

Business or profession 7 

Farming 7 

Partnerships 7 

Net operating loss deduc- 
tion 7 

Self-employment tax 7 

Sale and exchange of prop- 
erty 8 

What are capital gains? .... 8 
Sales of homes, etc. — Gen- 
eral rule 8 

Special rule for sale of resi- 
dence at a gaiQ 8 

Nonbusiness bad debts . . .'. . 8 

Annuities and pensions .... 8 

The S-percent rule 8 

After you recover cost 8 

Employer' s contributions . ... 8 

Part-year annuities 8 

Joint and survivorship annu- 
ities 9 

Rents and royalties 9 

If you rent part of a house, 

etc 9 

Estates and trusts 9 

Other income 9 



Page 

How to figure depreciation . 9 

What is "useful life"? 9 

Figuring the deduction 9 

Cash or accrual accounting . 9 

Information reports 10 

Declarations of estimated 

tax 10 

How To Claim Nonbusi- 
ness Deductions: 

Contributions ".0 

Interest 10 

Taxes 10 

Casualty losses and thefts . . 11 
Medical and dental ex- 
penses 11 

Limitations 11 

Miscellaneous 11 

How To Figure Your Tax: 

Using the tax table 12 

Making a long-form com- 
putation 12 

1952 tax rate schedule .... 12 
Adjustment for partially tax- 
exempt interest 12 

Your tax due or refund. . . 12 
Credit for withholding tax . . 12 
Credit for F. /. C. A. tax. . 12 
Credit for estimated tax pay- 
ments 12 

Balarue of tax or refund 12 



WHERE TO FILE YOUR RETURN 

Niail your return fo fhe "Direcfor of Internal Revenue" for the district in which you live 



ALABAMA Blrmlnghom 3, Ala. 

ALASKA Tacoma 2, Woth. 

AtlZONA Phoanix, Ariz. 

ARKANSAS LiHl* Rock, Ark. 

CALIFORNIA: 

Counties of looperial, Kern, Los An- 

ftlei. Orange, Riverside, San Berna- 
ino, San Diego, San Luis Obispo. 
Santa Barbara, and Ventura Los An- 
gela! 12, Calif. 

All other counties San Frontlieo 

7, Calif. 

CANAL 70NE Jacksonvilla, Fla. 

COLORADO Oanver 2, Colo. 

CONNECTICUT Hartford, Conn. 

DELAWARE Wllmlnglon 99, Del. 

DISTRICT OF COLUMBIA Balllmora 2, 

Md. 

FLORIDA Jackionvlile 1, Fla. 

GEOR6IA Atlpnla 3, Ga. 

HAWAII Honolulu 9, T. H. 

IDAHO BoUa, Idoho 

lUINOIS: 

G>unties of Boone. Bureau. Carroll, 
Cook, De Kalb, Du Page, Grundy, 
Henry, Jo Daviess, Kane, Kankakee, 
Kendall, Lake, La Salle, Lee, McHenry, 
Marshail, Mercer, Ogle, Putnam, Rock 
Island, Stark, Stephenson, Whiteside, 
Will, and Winnebago Chicago, III. 

All other counties — Sprlngflsid, III, 
INDIANA—.lndlanapolit 6, Ind. 

IOWA De< Molnet 8, Iowa 

KANSAS. ..Wichita I, Kana. 
KENTUCKY...loultvllla I, Ky. 
LOUISIANA-. .New Orlaant 16, La. 
MAINE— Augutia, Maine 
MARYLAND... Baltimore 2, Md. 
MASSACHUSETTS.. .Boilon 15, Mats, 
MICHIGAN. ..Detroit 31, Mich. 

MINNESOTA SI. Paul 1, Minn. 

MISSISSIPPI Jockton 5, Miii. 

MISSOURI! 

Counties of Adair, Audrain, Bol- 
linger, Boone, Butler, Callaway, Cape 
Girardeau, Carter, Clark, Crawford, 
Dent, Dunklin, Franklin, Gasconade, 
Howard, Iron, Jefferson, Knox, Lewis, 
Lincoln, Linn, Macon, Madison, 
Maries, Marion, Mississippi, Monroe, 
Montgomery, New Madrid, Oregon, 
Osage, Pemiscot, Perry, Phelps, Pike, 
Pulaski, Ralls, Randolph, Reynolds, 



Ripley, St. Charles, St. Francois, Ste. 
Genevieve, St. Louis, Schuyler, Scot- 
land, Scott, Shannon, Shelby, Stod- 
dard, Warren, Washington, ^nd 
Wayne St. Louli 1, Mo. 

All other counties — Kansas City 6, 
Mo. 

MONTANA Helena, Monl. 

NEBRASKA.. .Omaha 2, Nebr. 
NEVADA...Reno, Nev. 
NEW HAMPSHIRE. ..Portsmouth, N. H. 
NEW JERSEY: 

Counties of Bergen, Essex. Hudson, 
Hunterdon, Middlesex, Morris, Pas- 
saic, Somerset, Sussex, Union and 
Warren.. .Newark, N. J. 

All other counties — Camden 1, N. J. 

NEW MEXICO Albuquerque, N. Mex. 

NEW YORK: 

Brooklyn: Counties of Kings, Nas- 
sau, Queens, and Suffolk — Brooklyn 
2, N. Y. 

Lower Manhattan: All that part of 
Manhattan Island south of 34th Street 
(this includes both sides of 34th 
Street) and Richmond County Cus- 
tomhouse BIdg., New York 4, N. Y. 

Upper Manhattan: That part of 
Manhattan Island north of 34th Street. 
(This includes Blackwell's Island, Ran. 

dall's Island, and Ward's Island.) 

110 East 4Slh St., New York 17, N. Y. 

Eastern New York State: Counties 
of Albany, Bronx (formerly the 23d 
and 24th wards of New York City), 
Clinton, Columbia, Dutchess. Essex, 
Fulton, Greene, Hamilton, Montgom- 
ery, Orange, Putnam, Rensselaer, 
Rockland, Saratoga, Schenectady, 
Schoharie, Sullivan, Ulster, Warren, 
Washington, and Westchester Al- 
bany 1 , N. Y. 

Central New York State: Counties 
of Broome, Cayuga, Chenango, Cort- 
land, Delaware, Franklin, Herkimer, 
Jefferson, Lewis, Madison, Oneida, 
Onondaga, Oswego, Otsego, St. Law. 
rence, Schuyler, Seneca, Tioga, Tomp- 
kins, and Wayne Syracuse, N. Y. 

Western New York State: Counties 
of Allegany, Cattaraugus, Chautauqua, 
Chemung, Erie. Genesee, Livingston, 
Monroe, Niagara, Ontario, Orleans, 



Steuben, Wyoming, and Yates — Buf- 
falo 2, N. Y. 
NORTH CAROLINA...Greensboro, N. C. 

NORTH DAKOTA Fargo, N. Dak. 

OHIO: 

Northeastern: Counties of Ash- 
land, Ashtabula, Belmont, Carroll, 
Columbiana, Cuyahoga, Geauga, Har- 
rison, Holmes, Jefferson, Lake, Lo- 
rain, Mahoning, Medina, Monroe, 
Portage, Richland, Stark, Summit, 

Trumoull, Tuscarawas, and Wayne 

Cleveland, Ohio 

Southeastern: Countiej of -Adams, 
Athens, Coshocton, Delaware, Fair- 
field, Franklin, Gallia, Guernsey, 
Hocking, Jackson, Knox, Lawrence, 
Licking, Madison, Marion, Meigs, 
Morgan, Morrow, Muskingum, Noble, 
Perry, Pickaway, Pike, Ross, Scioto, 

Union. Vinton, and Washington 

Columbus 16, Ohio 

Northwestern: Counties of Allen, 
Auglaize, Champaign, Cr'awford, 
Darke, Defiance, Erie, Fulton, Han- 
cock, Hardin, Henry, Huron, Logan, 
Lucas, Mercer, Ottawa, Paulding, Put- 
nam, Sandusky, Seneca, Shelby, Van 
Wert, Williams, Wood, and Wyan- 
dot Toledo 1, Ohio 

Southwestern: Counties of Brown, 
Butler, Clark, Clermont, Clinton. Fay- 
ette, Greene, Hamilton, Highland, 
Miami. Montgomery, Preble, and War- 
ren Cincinnati 1, Ohio 

OKlAHOMA-..Oklahoma City 1, Okla. 
OREGON. ..Portland 9, Oreg. 
PENNSYLVANIA: 

Southeastern: Counties of Adams, 
Bedford, Berks, Blair Bucks, Chester, 
Cumberland, Dauphin, Delaware, 
Franklin, Fulton, Huntingdon, Juriiata, 
Lancaster, Lebanon, Lehigh, Mifflin, 
Montgomery, Perry, Philadelphia, 
Schuvlkill, Snyder, and York...Phila- 
delphia 7, Pa. 

Northeastern: Counties of Brad- 
ford, Carbon, Centre, Clinton, Colum- 
bia, Lackawanna, Luzerne, Lycoming, 
Monroe, Montour, Northampton, Nor- 
thumberland, Pike, Potter, Sullivan, 
Susquehanna, Tioga, Union, Wayne, 
and Wyoming Scranton 14, Pa. 

Western: Counties of Allegheny* 



Armstrong, Beaver, Butler, Cambria. 
Cameron, Clarion, Clearfield, Craw- 
ford, Elk, Erie, Fayette, Forest, Greene, 
Indiana, Jefferson, Lawrence, McKeaa, 
Mercer, Somerset, Venango, Warrea, 
Washington, and Westmoreland- 
Pittsburgh 30, Pa. 

PUERTO RICO Baltimore 2, Md. 

RHODE ISLAND. ..Providence, R. I. 
SOUTH CAROLINA.. .Columbia 1, S. C 
SOUTH DAKOTA-. .Aberdeen, S. Dak. 

TENNESSEE Nashville 3, Tenn. 

TEXAS: 

Southern: Counties of Aransas, 
Atascosa. Austin, Bandera, Bastrop. 
Bee, Bell, Bexar, Blanco, Bosque, Bra- 
zoria, Brazos, Brewster, Brooks. Bur- 
leson, Barnet, Caldwell, Calhoun, 
Cameron, Chambers, Colorado, Comal, 
Coryell, Culberson, De Witt, Dimmit, 
Duval, Edwards, El Paso, Falls, Fay- 
ette, Fort Bend, Freestone, Frio, Gal- 
veston, Gillespie, Goliad. Gonzales, 
Grimes. Guadalupe, Hamilton, Har- 
din, Harris, Hays, Hidalgo. Hill, 
Hudspeth, Jackson, Jasper, Jen Davis, 
Jefferson, Jim Hogg, Jim Wells, 
Karnes, Kendall, Kenedy, Kerr, Kim- 
ble Kinney, Kleberg, Lampasas, L4 
Salle, Lavaca, Lee, Leon, Liberty, 
Limestone, Live Oak, Llano, McCul- 
loch, McLennan, McMullen, Madison, 
Mason, Matagorda. Maverick. Medina, 
Milam, Montgomery, Newton, Nue- 
ces, Orange, Pecos, Polk. Presidio, 
Real, Reeves, Refugio, Robertson, San 
Jacinto, San Patricio, San Saba, Som- 
ervell, Starr. Terrell, Travis, Trinity, 
Tyler, Uvalde, Val Verde, Victoria, 
Walker, Waller, Washington, Webb, 
Wharton, Willacy, Williamson, Wil- 
son, Zapata, and Zavala Austin S, 

Tex. 

Northern: All other counties — _ 
Dallas 1, Tex. 

UTAH— -Solt Lake City 1, Utah 
VERMONT.. .Burlington, Vt. 

VIRGINIA Richmond 17, Va. 

VIRGIN ISLANDS---Balllmore 2, Md. 
WASHINGTON—.Tacoma 2, Wash. 
WEST VIRGINIA.. .Parkertburg, W. Va. 

WISCONSIN Milwaukee I, Wit. 

WYOMING— .Cheyenne, Wyo. 



Taxpayers with legal residence in foreign countries Baltimore 2, Md., U. S. A. 



FACSIMILES OF TAX EETURNS FOR 1952 

HOW TO FILE YOUR RETURN 



101 



Who Must Pile 

Everyone — adult or child — who had $600 or more gross 
income in 1952 must file. For requirements respecting 
self-employment tax, see page 7. 

Why You Must File a Return 

Most of your tax is withheld from your wages every 
payday or paid on Declarations of Estimated Tax every 
quarter. However, the law requires you to file an annual 
return to determine whether you owe more or you should 
get a refund. 

When To File 

Between January 1 and March 15, 1953. Try to avoid 
the last-minute rush. Those few individuals who keep 
books on a fiscal year basis must file by the fifteenth day 
of the third-month after the close of their years. 

How To Pay 

Any balance of tax shown to be due in item 7, page 1, 
of your return on Form 1040 must be. paid in full with 
your return. You may pay cash, or by check or money 
order. Checks or money orders should be made payable 
to "Director of Internal JRevenue." 

Hou> To Sign 

You have not filed a legal return unless you sign it. If 
you and your wife are filing a joint return, both of you 



must sign, You do not need to have your return notarized, 
since your signatm-e has the same legal effect as swearing 
to the truthfulness of your return. 

Where To Get Forms 

As far as practical, the Director mails forms directly to 
taxpayers. If you need additional forms you can get them 
from any director's office, and also at most banks and post 
offices. Many employers also keep forms for the convenience 
of employees. 

Where To Get Help 

After reading these instructions you should be able to 
prepare your own return, unless you had complicated 
problems. If you do need help, you can get it at any 
director's office. For example, you may need advice in 
connection with filing a return for a decedent. 

Your Rights of Appeal 

If you believe there is an error in any bill, statement, or 
refund in connection with your tax, you are entitled to 
present your reasons to the Director and have the matter 
reconsidered. Also, if any audit or investigation causes 
proposed changes in your tax, to which you do not agree, 
you are entitled to have the matter reconsidered by the 
Director. If agreement is not reached, the Director will 
advise you of further appeal rights. 



HOW TO CHOOSE YOUR RETURN FOR 
SIMPLICITY AND LOWEST TAX 



The Three Types of Returns 

In an effort to fit the tax returns to the differing needs 
of the more than 50,000,000 persons who must file them, 
three types of returns have been provided — Form 1040A, 
Short-Form 1040, and Long-Form 1040. 
'!: The law expects you to pay your correct tax — no more — 
no less. It will pay you to think for a moment which of 
these three types of returns is the best and easiest form in 
your case. To do this you need to consider the size of 
your income, the sources of your income, your eligibility 
to deduct travel and reimbursed expenses from wages (see 
page 5 ) , and the size of your nonbusiness deductions, such 
as contributions, medical expenses, etc. (listed in detail on 
pages 10 and 11). The tax table used in computing the 
tax on Form 1040A and Short-Form 1040 automatically 
allows you approximately 10 percent of your income to 
cover your nonbusiness deductions. 

Income Less Than $5,000 

1. Form 1040 A. — This is the simplest return of the three. 
If you file this form, you do not need to figure your own 
tax. From your answers to the questions, the Director will 
figure your tax for you, and send you a bill or a refund. 
If your total income was less than $5,000 and consisted 
entirely of wages reported on Withholding Statements 
(.Fprms W-2), or of such wages and not more than $100 
total of other wages, dividends, and interest, you may use 
Employee's Optional Income Tax Return (Form 1040A). 
If ( 1 ) you had any income from other sources, such as annui- 
ties, rents, royalties, a business or profession, farming, trans- 



actions in securities or other property, partnerships, estates, 
and trusts, or (2) if you claim the status of head of a house- 
hold, you may not use Form 1040A but must file your re- 
turn on Form 1040. You cannot deduct travel or reim- 
bursed expenses from your wages if you file Form 1040A. 

2. Short-Form 1040. — Form 1040 may be used either as 
a short form or as a long form. The short form is simpler 
than the long form. It differs from Form 1040A in that 
(a) you must find your own tax; (b) you may include in- 
come from sources not eligible for Form 1040 A; and (c) 
you may deduct travel and reimbursed expenses from your 
wages. Therefore, if your income was less than $5,000 and 
you do not desire to itemize nonbusiness deductions (con- 
tributions, interest, etc.), find your tax from the table on 
the back of the form, tear off the first sheet and file it as 
a short form. 

3. Long-Form 1040. — If your nonbusiness deductions are 
more than 10 percent of your income, you will ordinarily 
save money by itemizing your deductions on Long-Form 
1040. You will then figure your tax according to the com- 
putation on page 3, and file the entire form, which is called 
a long-form return. If your nonbusiness deductions are 
so close to 10 percent that you are in doubt which is the 
better form, try both the short form and the long form to 
make sure. 

Income of $5,000 or More 

If your income was $5,000 or more, you must use Long- 
Form 1040. However, in that case, you can either take a 
standard deduction or itemize and claim your actual de- 
ductions. You should compare your actual deductions with 



102 



FACSIMILES OF TAX RETURNS FOR 1952 



the amount the standard deduction allows you. If actual 
deductions exceed the standard deductions, you will save 
tax by electing to itemize them. If you are single, or if 
you are married and file a joint return, the standard deduc- 
tion is 10 percent of your income but not more than $1,000. 
If husband and wife file separate returns and each had in- 
come of $5,000 or more, the standard deduction is a flat 
$500 for each. 

Married Persons — -Joint or Separate Return 

Are you married? — If you were a married person on Dec. 
31, 1952, you are considered married for the entire year 
1952. If you were divorced or legally separated on or be- 
fore December 31, you are considered single for the entire 
year. If your wife or husband died during the year, you are 
considered married for the entire year, and may file a 
joint return. 

Separate or Joint Returns. — If husband and wife have 
separate income (for example, if both work), they may 
file separate returns or a joint return. A separate return 
accounts only for the exemptions, income, and deductions 
of one person. If married persons living in community 
property States file separate returns, each must report half 
of any commimity income. A joint return accounts for 
the exemptions, income, and deductions of both husband 
and wife. A husband and wife may file a joint return 
even though one of them had no income. A joint return 
may not be filed if either husband or wife was a nonresi- 
dent alien at any time during the taxable year. 
How To Make a Separate Return. — To file separate returns, 
husband and wife must each have income under the laws 
of their State and they must fill out separate forms. The 
"split income" provisions of the Federal tax law do not 
apply to separate returns. When filing separate returns, 
the husband and wife should each claim the deductions 
for those allowable expenses paid with his or her own funds. 
(In community property States, deductions resulting from 
payments made out of funds belonging jointly to husband 
and wife may be divided half and half.) If one itemizes 
and claims actual deductions, instead of using the tax table 
or the "standard deduction", then both must itemize and 
claim actual deductions on Long-Form 1040 returns. 
How To Make a Joint Return.— You can make a joint re- 
turn by including all exemptions, income, and deductions 
of both husband and wife. In the heading of the return, 
list both names (for example: "John H. and Mary D. 
Doe") . Both must sign the return. 

Advantages of a Joint Return. — The present law usually 
makes it advantageous for married couples to file joint re- 
turns. The law provides a "split income" method of figuring 
the tax on a joint return which often results in a lower tax 



than would result from separate returns. If you make a joint 
return on Form 1040A, the Director will figure your tax 
both on the separate and the joint basis, and give you the 
benefit of the lower figure. If you file Form 1040-— eithef 
the short or long form — a joint return usually will result 
in as low as or a lower tax than separate returns. There are 
some cases, when husband and wife both have income, where 
separate returns result in a lower total tax than joint returns. 
Joint Tax or Refund. — When husband and wife sign a joint 
return, each assumes full legal responsibility for the entire 
tax, and if one fails to pay, the other must pay it. If they are 
entitled to a refund, the check will be made out to them 
jointly. 

Unmarried persons — Heads of Household 

The law provides a special tax treatment for any indi- 
vidual who qualifies as a "Head of a Household." 

If you are not married (or legally separated) at the end 
of your taxable year, you qualify as a "Head of a House- 
hold" provided you furnish over half the maintenance of 
a home which is your principal residence and which, except 
for temporary absences, you share during the entire taxable 
year with — 

(a) Any person for whom you are entitled to an exemp- 
tion, or 

(b) Your unmarried child, grandchild, or stepchild, even 
though such child is not a dependent. 

If you are married to a nonresident alien at any time 
during your taxable year but otherwise meet the foregoing 
tests, you are considered a "Head of a Household" since 
you are not permitted to file a joint return. 

If your wife or husband (not a nonresident alien) dies 
during the taxable year, you do not qualify as a "Head of 
a Household" since in such case you are generally entitled 
to file a joint return. 

If you claim the status of "Head of a Household," you 
are required to fill in Schedule J on page 2 of your retvim. 

The cost of maintaining a household includes expendi- 
tures for such items as: 

1. Maintenance of the dwelling and premises. For 
example, rent (or if the taxpayer owns his home, real estat€ 
taxes and interest on a mortgage on the home) , insurance ofi 
the dwelling and premises, repairs, upkeep, and domestic 
help. 

2. Utilities. For example, gas, telephone, electricity, 
water, and fuel. 

3. Food consumed in the home. 

The cost of maintaining a household shall be computed 
without regard to the value of personal services rendered by 
a member of the household, including the taxpayer. 



HOW TO CLAIM YOUR EXEMPTIONS 



Exemptions for You and Wife 

For You. — ^You, as the taxpayer, are always entitled to at 
least one exemption for yourself. If, at the end of your tax- 
able year, you were blind or were 65 or older, you get two 
exemptions for yourself. If you were both blind and 65 or 
over, you get three exemptions. 

For Your Wife. — You get exemptions for your wife (or hus- 
band) if you and she are filing a joint return. If you file 
a separate return, you may claim her exemptions only if 
she had no income and was not claimed as a dependent on 



another taxpayer's return for 1952. Otherwise, your wife's 
exemptions are like your own — one if she was neither blind 
nor 65 ; two if she was either blind or 65 ; three if she was 
both blind and 65. 

In Case of Death. — If wife or husband died during 1952, 
the exemption for age or blindness is determined as of the 
date of death. 

Proof of Blindness. — If totally blind, attach a statement 
of such fact to the return. If partially blind, attach a state- 
ment from a qualified physician or a registered optometrist 
that ( 1 ) central visual acuity did not exceed 20/200 in the 



I 



FACSIMILES OF TAX RETURNS FOR 1952 



103 



better eye with correcting lenses, or (2) thav the widest di- 
ameter of the visual field subtends an angle no greater 
than 20°. 

Exemptions for Your Children 

You get only one exemption for each child (the addi- 
tional exemption for age or blindness applies only to you 
and your wife but not to dependents) . The law puts very 
exact limitations on who is a dependent. Each child rnust 
meet all four of the following tests for the taxable year: 

1. Did not have $600 or more gross income, and 

2. Received more than one-half of his or her support 
from you (or from husband or wdfe if this is a joint return) , 
and 

3. Is not claimed as an exemption on the return of her 
husband (or his wdfe), and 

4. Was either a citizen of the United States or a resident 
of the United States, Canada, or Mexico. 

Exemptions for Your Relatives 

You get one exemption for each dependent close relative. 
The law puts very exact limitations on who may be claimed 



as a dependent close relative. Each must meet all five of 
the following tests for the taxable year: 

1. Did not -have $600 or more gross income, and 

2. Received more than one-half of his or her support 
from you (or from husband or wife if this is a joint return), 
and 

3. Is not claimed as an exemption on the return of her 
husband (or his wife), and 

4. Was either a citizen of the United States or a resident 
of the United States, Canada, or Mexico, and 

5. Is related to you (or to husband or wife if this is a 
joint return) in one of the follovmig ways: 



Mother 


Stepbrother 


Son-in-law 


Father 


Stepsister 


Daughter-in-law 


Grandmother 


Stepmother 


Uncle- 


Grandfather 


Stepfather 


Aunt — 


Brother 


Mother-in-law 


Nephew — 


Sister 


Father-in-law 


Niece — 


Grandson 


Brother-in-law 


(but only if related 


Granddaughter 


Sister-in-law 


by blood) 



HOW TO REPORT YOUR INCOME 



What Income Is Taxed 

The law says all kinds of income are subject to tax with 
specific exceptions. This means that all income which is 



not specifically exempt must be included in your retiun, 
even though it may be offset by expenses and other 
deductions. On the other hand, exempt income should 
be Omitted from your return altogether. 



Examples of Income Which Must Be Reported 



Wages, salaries, bonuses, commissions 

Tips and gratuities for services rendered 

Dividends and other earnings from investments 

Interest from bonds, loans 

Industrial, civil service and other pensions, annuities, 

endowments 
Rents, and royalties from property, patents, copyrights 
Profits from business or profession 
Profit from sale of real estate, securities, autos 
Your share of partnership profits 
Your share of estate or trust income 
Contest prizes 
Gambling winnings 



Examples of Income Which Should Not Be Reported 

Armed forces pay due to active service in a combat zone or 
while hospitalized from such service after June 24, 1950— 
enlisted men's entire service pay for each month; officers' 
service pay up to $200 for each month. Your service with- 
holding statement (Form W— 2) does not include this non- 
taxable service pay but shows only the pay you need report 

All Government payments and benefits made to veterans 
and their families, except nondisability retirement pay 
and interest on terminal leave bonds 

Dividends on veterans' Grovermnent insurance 

Federal and State social security benefits 

Railroad Retirement Act benefits 

Gifts, inheritances, bequests 

Workmen's compensation, insurance, damages, etc., for 
bodily injury or sickness 

Interest on State and municipal bonds; certain Federal bonds 
issued before March 1, 1941 

Life insurance proceeds upon death 



Wages, Salaries, Etc. 

Even though tax has been withheld by your employer, 
the law requires you to report all your wages, salaries, 
fees, commissions, bonuses, and all other payments for 
your personal services. 

Report Total Wages Before Pay-Roll Deductions. — When 
your employer deducts taxes, insurance, union dues, savings 
bond subscriptions, social security, pension fund contri- 
butions, community chest, or- other items from your pay, 
these amounts are still part of your wages. The law 
requires you to report your total wages in the amount that 
would have been paid if your employer had not made any 
deductions. 

Tips and Gratuities. — The law requires you to include in 
your wages all tips, gratuities, bonuses, and similar pay- 
ments whether you get them from a customer or from your 



employer. Legally, these are not "gifts," even though people 
sometimes mistakenly call them by that name. 
Payment in Merchandise, etc. — If your employer pays part 
or all of your wages in merchandise, services, stock, or other 
things of value, you must determine the fair market value 
of such items and include it in your wages. 

Meals and Living Quarters. — If solely for the convenience 
of your employer, you are required to live or eat on his 
premises and the living quarters and meals are not furnished 
as compensation, they are not to be reported in your return. 
For example, a maidservant who is required to live in her 
employer's home is not taxable on the value of the meals 
and lodging furnished her. A special provision of law also 
exempts a clergyman from paying tax on the value of a 
parsonage furnished for his use by his church. 

Travel Expenses of Employees. — The law provides special 



104 



FACSIMILES OF TAX RETURNS FOR 1952 



deductions for the expenses of tra\el, meals, and lodging 
while away from home in connection with your employer's 
business. Traveling "away from home" means going away 
from the city or town where you normally work and remain- 
ing away at least overnight. If you choose to live away 
from the city where you regularly work, or do not transfer 
your home when your employer transfers your work to a 
different city, the law does not allow any "travel deduction" 
resulting from your choice of residence. 

"Travel expenses" means the cost of transportation fares, 
meals, and lodging while away from home on your em- 
ployer's business. It also includes porters' tips, hire of public 
stenographers, baggage charges, and similar expenses nec- 
essary to travel. Entertainment expenses cannot be included 
in "travel expenses." You cannot deduct laundry and other 
personal expenses. Any amount paid to you to cover "travel 
expenses" must be included in your wages. You can deduct 
your full "travel expenses" from your wages before writing 
the balance of your wages in item 2, page 1, Form 1040. 
You must attach a statement to your return explaining in 
detail the expenses you deducted. 

Reimbursed Expenses Other Than Travel. — If your em- 
ployer pays you an "expense account" or otherwise reim- 
burses you for money spent for him (other than "travel ex- 
penses"), you should add these payments to your wages, 
and then subtract your actual expenses but not more than 
the reimbursements. Enter the balance in item 2, page 1, 
Form 1040, and attach a detailed statement in explanation. 
Any allowable expense in excess of the reimbursed amount 
must be treated as "Other Expenses" discussed below. 

Other Expenses of Employees. — On page 1 of Form 1040, 
the law allows only "travel" and "reimbursed" expenses to 
be deducted from wages, as explained in the two preceding 
paragraphs. If you file Form 1040 A or a Short-Form 1040, 
or if you take the standard deduction on a Long-Form 1040, 
you receive an allowance for deductions which takes the 
place of all other employment expenses and nonbusiness 
deductions. On the other hand, if you itemize your deduc- 
tions on a Long-Form 1040, you can deduct the cost of 
tools, materials, dues to unions and professional societies, 
entertaining customers, and other expenses which are ordi- 
nary and necessary in connection with your employment. 
These items may be itemized and deducted on page 3 under 
the heading "Miscellaneous." 

Going to and From Work. — The law regards the cost of 
going to and from work as your personal expense, and never 
allows you to deduct such costs, no matter how far you live 
from work, or how expensive the transportation may be. 

Dividends 

If you own stock in a corporation or association, the pay- 
ments you receive on your stock out of earnings and profits 
are called dividends and must be reported in your tax return. 
Usually dividends are paid in cash, but' if paid in merchan- 
dise or other property, they are taxable at their fair market 
value. 

If, however, a distribution is not paid from earnings and 
profits, it is not taxable as a dividend. Such distributions 
are treated as reductions of the cost or other basis of your 
stock. These distributions are not taxable until they exceed 
your cost or other basis. After you have received full repay- 
ment of your cost or other basis, you must include any addi- 
tional receipts as gains from the sale or exchange of property 
for which special tax treatment is provided. 

In some cases a corporation distributes both a dividend 
and a repayment of capital at the same time. When these 
mixed distributions are made, the check or notice will usu- 



ally show the dividend and the capital repayment separately. 
In any case, you must report the dividend portion as income. 

A distribution in the form of shares of stock in the same 
corporation is not taxable if it does not change your pro- 
portionate interest in the corporation ; as, for example, where 
each holder of common stock receives one additional share 
of the same class of common stock for each share he owtis. 
A stock distribution is taxable if it changes the stockholder's 
proportionate interest in the corporation. If so, the fair 
market value of the new stock must be reported as dividend 
income. 

Dividends on shares of stock issued before March 28, 1942, 
by Federal land banks, national farm loan associations, and 
Federal Reserve banks are not taxable. If the shares were 
issued on or after that date, the dividends are taxable. 

If you own shares in a Federal savings and loan associa- 
tion, see next section. 

You sh6uld itemize in Schedule A dividends received 
unless you are engaged in the trade or business of buying 
and selling stock to customers. In such case, you should 
report dividends received from such stock in separate 
Schedule C. 

Interest 

You must include in your return any interest you receive 
or is credited to your account and which can be withdravkTi 
by you. All interest from bonds, debentures, notes, savings 
accounts, or loans is taxable, except for certain governmental 
issues as described below. 

State and Municipal Bonds and Securities. — The interest on 
these obligations is completely exempt from tax. 
U. S. Government Bonds and Securities. — The interest on 
obligations issued on or after March 1, 1941, is fully taxable. 

If you own United States Savings or War bonds (Series 
A to F, inclusive), the gradual increase in value of each 
bond (as shown in the table on its back) is considered 
"interest," but you need not report it in your tax return 
until you cash the bond. Matured Series E bonds continue 
to earn interest until cashed. However, you may at any 
time elect to report each year the annual increase in value, 
but if you do so you must report in the first year the entird 
increase to date and must continue to report the annual 
increase each year. 

If you own U. S. Savings bonds or Treasury bonds issued 
prior to March 1, 1941, you can exclude from your tax 
return the interest on any $5,000 principal value of such 
bonds (valuing Savings bonds at cost and Treasury bonds 
at face value). 

On certain United States securities the interest is subject 
to surtax rates but is exempt from nonnal tax rates. The 
entire interest from such securities should be included on 
page 2 of the return. If you file Form 1040A or Short- 
Form 1040, the standard deduction of approximately 10 
percent includes this normal tax exemption. If you file a 
Long-Form 1040 and itemize deductions, you may make an 
adjustment for these securities in line 6, 7, or 8 {c) , page 3. 
This adjustment is allowed only on the following securities : 

(A) U. S. Savings bonds and Treasury bonds in excess of 
$5,000 issued before March 1, 1941; 

(B) Obligations of instrumentalities of the U. S. (except 
Federal land banks, intermediate credit banks, and joint 
stock land banks) issued before March 1, 1941; 

(C) Dividends on shares of Federal savings and loan 
associations if the shares were issued before March 28, 1942. 

You should itemize in Schedule B interest received, unless 
you are engaged in the business of buying and selling securi- 



FACSIMILES OF TAX RETURNS FOR 1952 



105 



ties. In such case, you should report interest received in 
separate Schedule C. 

Business or Profession 

The law taxes a business or profession on its profits — not 
its total receipts. Therefore, separate Schedule C is provided 
to help you subtract your costs from your receipts. 

Generally, the costs you can deduct are the ordinary and 
necessary expenses of doing business — cost of merchandise, 
salaries, interest, taxes, rent, repairs, and incidental supplies. 
In the case of capital investments and improvements in 
depreciable property, such as buildings, machines, fixtures, 
and similar items having a useful life of more than one year, 
the law provides an annual depreciation allowance as the 
method of recovering the original capital cost tax-free. For 
further information on depreciation, see page 9. 

In the case of capital investments and improvements in 
nondepreciable property, such as land, the law does not pro- 
vide for any annual depreciation allowance. 

If some of your expenses are part business and part per- 
sonal, you can deduct the business portion but not the per- 
sonal portion. For instance, a doctor who uses his car half 
for business can deduct only half the operating expenses of 
the car. 

If in your business, you suffer a loss from the loan of cash 
or property, you can deduct the "bad debt" in the year in 
which it became worthless, but not in any other year. If a 
business debt becomes partially worthless, you can deduct 
the portion actually charged off on your books. Uncollected 
bills for services, like doctors' bills, cannot be deducted unless 
the anticipated income was reported in your current or 
previous "tax return. 

Farming 

For the assistance of farmers, a separate schedule, Form 
1040F, is provided and must be used by all farmers who 
report on a cash basis. This form is optional with farmers 
who keep books on an accrual basis. 

Farmers should report as business income all Government 
payments, such as milk subsidy and conservation payments 
and amounts received under the Soil Conservation and 
Domestic Allotment Act, as amended, the Price Adjustment 
Act of 1938, section 303 of the Agricultural Adjustment Act, 
as amended, and the Sugar Act of 1937. Farmers who in- 
clude in their income loans from the Commodity Credit 
Corporation should attach a statement explaining the 
details. 

Farmers who market produce through a cooperative 
should add to the sales price of the produce, or to ordinary 
income, any patronage dividends received in the taxable 
year as a result of such transactions. Farmers who buy, 
through a cooperative, implements, gasoline, seed, fertilizer, 
or other items for use in their business should either reduce 
their deductions for such items by the amount of patronage 
dividends received or add patronage dividends to income. 
Patronage dividends received as rebates for purchases of 
items not used in your business should be omitted from your 
tax return. Patronage dividends are considered paid to you 
when remitted in cash, merchandise, stock certificates, or 
when credited to your account. 

For further information relating to farm income and 
expense, see instructions on page 4 of Form 1040F. 

Partnerships 

A partnership or similar business firm (not a corporation) 
does not pay income tax in the firm's name. Therefore, each 
partner must report in his personal tax return his share of 
his partnership's income and pay tax on it. 



Include in Schedule C Summary, page 2 of Form 1040, 
your share of the net profit (whether actually received by 
you or not) or the net loss of a partnership, joint venture, 
or the like, whose taxable year ends within the year covered 
by your return. In computing the amount of the net income 
or loss of the partnership or other organization, do not 
include : 

(a) Interest on obligations of the United States or its in- 
strumentalities which is exempt from normal tax (see 
Interest). Youi^ share of this interest should be reported in 
Schedule B, page 2, of your return. 

(b) Deductions and credits for contributions, income 
taxes paid to a foreign government, and income taxes paid 
at the source on tax-free covenant bond interest. If you 
itemize your deductions on Long-Form 1040, your share of 
these items should be entered on page 3. 

(c) Capital gains or losses. Your share of these should be 
reported by you in separate Schedule D. 

Your share of partnership gains and losses from trans- 
actions described in subsections (j) and (k) of section 117 of 
the. Internal Revenue Code should be aggregated with your 
gains and losses from like transactions to determine whether 
you are entitled to the benefits of such subsections. 

If the partnership is engaged in a trade or business, the 
individual partner may be subject to the self-employment 
tax on his share of the partnership's self-employment in- 
come. In such a case the partner's share of partnership self- 
employment net earnings (or loss) should be entered on 
line 29, separate Schedule C. 

Net Operating Loss Deduction 

If, in 1952, your business or profession lost money instead 
of making a profit or you had a casualty loss, you can apply 
these losses against your other 1952 income. If these losses 
exceed your other income, the excess or "net operating loss" 
may be carried backward to offset your income for 1951, 
and any remaining excess may be carried over to the years 
1953-1957, inclusive. If a carry-back entitles you to a 
refund of 1951 taxes, ask the Director for Form 1045 to 
claim quick adjustment. For further information, see 
section 122 of the Internal Revenue Code. 

If you claim a net operating loss deduction on line 5 of 
Schedule C Summary, page 2, of Form 1040, you should 
file a concise statement setting forth the amount of the net 
operating loss deduction claimed and all material and per- 
tinent facts relative thereto, including a detailed statement 
shovking the computation of the net operating loss deduction. 

Self-employment Tax 

Every self-employed individual will have to file an annual 
return of his self-employment income on Form 1040 if he 
has at least $400 of net earnings from self-employment in a 
taxable year, even though he may not have sufficient in- 
come to otherwise require the filing of an income tax return. 

If your income is derived solely from salary or wages, or 
from dividends and interest on investments, capital gains, 
annuities, or pensions, you will have no self-employment 
income and, therefore, will have no self-employment tax 
to pay. 

Generally, if you carry 'on a business as a sole proprietor, 
or if you render service as an independent contractor, or as 
a member of a partnership or similar organization, you will 
have self-employment income. 

The computation of your self-employment tax is made on 
separate Schedule C which, with attached Schedule C-a, 
should be filed with your income tax return on Form 1040. 
The self-employment tax is a part of your income tax and 
any balance of tax shown to be due in item 7, page 1 of your 



106 



FACSIMILES OF TAX RETURNS FOR 1952 



return on Form 1040 must be paid in full with your return. 

Any declaration of estimated tax required to be filed need 
not include estimated tax on self-employment income. 

For further information relating to the self -employment 
tax, see instructions on page 4 of separate Schedule C. 

Sale and Exchange of Property 

If you sell your house, car, furniture, securities, real 
estate, or any other kind of property, the law requires you 
to report any profit in your tax return. Because of the many 
special rules for taxing the profit and deducting the loss 
from such transactions, a special form. Schedule D, is pro- 
vided for your convenience. The results computed from this 
form must be shown on page 2 of Form 1040 and the sep- 
arate schedule attached. 

What Are Capital Gains? — In general, capital gains are 
profits from selling or exchanging any kind of property 
except certain kinds when they are used or held in your 
trade or business. For more specific information regarding 
capital gains and losses and gains and losses from the sale 
or exchange of other property, see instructions on the back 
of Schedule D. 

Sale of Homes, Etc. — General Rule — The law requires 
you to report any gains from the sale or exchange of your 
residence or other nonbusiness property, but does not allow 
you to claim any loss from the sale of a home or other asset 
which was not held for the purpose of producing income. 
However, your gain from the sale of such property is the 
difference between the sales price and your original cost 
plus the cost of permanent improvements without reduction 
of such costs by depreciation. 

Special Rule for Sale of Residence at a Gain. — If you 
sold or exchanged your residence during 1952 at a gain 
and within one year after (or before) the sale you pur- 
chased and occupied another residence, none of the gain 
is taxable if the cost of the new residence equals or exceeds 
the sale price of the old residence. See, however, instruc- 
tions below for information to be furnished. If instead of 
purchasing another residence you begin construction of a 
new residence either before the sale of your old residence 
or withm one year after the sale and occupy it not later 
than 18 months after the sale, none of the gain upon the 
sale is taxable if your cost of construction actually taking 
place and land actually acquired within the period begin- 
ning one year before the sale and ending 18 months after the 
sale equals or exceeds the sale price of the old residence. 

If the sale price of your old residence exceeds the cost of 
your new residence, the gain on the sale is taxable to the 
extent of such excess. For example, if you sell for $15,000 
a residence which cost you $10,000 and purchase a new 
residence for $14,000, $1,000 of the $5,000 gain on the sale 
of your old residence is taxable. 

To determine the gain on the sale of your new residence, 
reduce its cost by the gain from the sale of your old resi- 
dence which was not taxable. For example, if you sell your 
new residence which cost $14,000 for $16,000 and the non- 
taxable gain on your old residence was $4,000, your gain 
on the sale of the new residence is $6,000, since the cost of 
$14,000 is reduced by $4,000. 

Specific rules apply where (a) a part of your old or new 
residence is used for rental or business purposes, (b) you 
sell within one year more than one property used as your 
principal residence, (c) the ownership by husband and wife 
of the old and new residence is not identical, (d) you own 
more than one residence at the same time, or (e) the acqui- 
sition of the new residence occurred because of a casualty 



such as fire, or of condemnation proceedings which affected 
your old home. 

If you sold or exchanged your residence during 1952, 
report the details of the sale in separate Schedule D. If 
you do not intend to replace, or the period for replace- 
ment has passed, report the gain in the regular manner. If 
you have acquired and occupied your new residence, enter 
in column 8 of Schedule D only the amount of taxable gain, 
if any, and attach statement showing the purchase price, 
date of purchase, and date of occupancy. 

If you are undecided or have decided to replace, you 
should enter "none" in column 8 of Schedule D. When you 
do replace within the required period, you should advise 
the director, giving full details. When you decide not to 
replace, or the period has passed, you should file an amended 
return. 

The running of the 1-year period or the 18-month 
period will be suspended during the time, if any, in which 
you serve on active duty in the Armed Forces after the date 
of sale of the old residence and before January 1, 1954, pur- 
suant to a call or order for an indefinite period or for more 
than 90 days. This suspension applies only where your 
service begins before the end of the 1-year period or the 
18-month period, and cannot extend the period beyond a 
date which falls 4 years after the date of sale. 
Nonbusiness Bad Debts. — If you fail to collect a personal 
loan, you can list the bad debt as a "short-term capital loss" 
provided the loan was made with a true expectation of col- 
lecting. So-called loans to close relatives, which are really 
in the nature of gifts, must not be listed as deductible losses. 

Annuities and Pensions 

If you paid part or all the cost of an annuity, pension, 
endowment, or similar contract, you are entitled to recover 
your cost tax-free, but must report a certain amount of 
your annual receipts as income. For your convenience in 
figuring the capital and income portions of your annuity or 
pension, Schedule E has been provided on page 2 of Form 
1040. If you are receiving payments on more than one 
pension or annuity, you should fill out a similar schedule for 
each one. 

The 3-Percent Rule. — In general, each payment to you is 
partly repayment of your cost and partly interest on your 
money. You must report as income each year an amount 
at least equal to 3 percent of all the money you paid toward 
your pension or annuity. 

The difference between the total payments you received 
during the year and 3 percent of your cost is the amount of 
your capital recovery which you exclude from income undl 
your full cost has been recovered tax-free. However, if the 
3-percent figure is larger than the actual amounts you re- 
ceived during the year, then report the actual amount 
received. 

After You Recover Cost. — As soon as you have recovered 
your cost tax-free (usually within the first few years), then 
everything you receive must be reported as income. From 
then on, you can report your full pension or annuity receipts 
in line 6 of Schedule E without filling out the other lines 
of the schedule. 

Employer's Contributions. — Many employers contribute 
part or all of the cost of pensions for their employees. Usu- 
ally, these contributions are not taxed as current wages, and 
such contributions are not considered part of the cost to 
employees. Therefore, in figuring the exempt or taxable 
portion of your pension, count only costs which you paid 
personally or through deductions from your pay. , 

Part-Tear Annuities. — If your payments started after Jan- ^ 



FACSIMILES OF TAX RETURNS FOR 1952 



107 



uary 1952, instead of reporting 3 percent, take yx2 of this 
3% of cost and multiply it by the number of months for 
which you received payments in 1952. 
Joint and Survivorship Annuities. — If, after the death of 
one annuitant, another person continues to receive the an- 
nuity payments, the new recipient must continue to report 
income in the same manner as the deceased annuitant. If, 
however, the death occurred after Dec. 31, 1950, the value 
of the annuity on the date of death, if includible in the 
estate, will be considered the cost to the survivor. 

Rents and Royalties 

If you are not engaged in the trade or business of selling 
real estate to customers and receive rent from property 
owned or controlled by you, or if you receive royalties from 
inventions, copyrights, mineral leases, and similar rights, 
you must report in Schedule F on page 2 of Form 1040 the 
total amount received. If crops or other property, instead of 
cash, were received as rent, their fair market value should 
be reported. Crops received as rent under a crop-sharing 
arrangement should be reported as income in the year of 
disposal. 

You are entitled to various deductions which are indi- 
cated in the schedule. In the case of buildings you can 
deduct depreciation, as explained on this page. You can also 
deduct depreciation on a patent or copyright. In the case of 
mineral, oil, gas, or timber properties, you can deduct a 
special allowance called "depletion." For details of deple- 
tion allowance, see sections 23 (m) and 114 of the Internal 
Revenue Code. 

You can also deduct all ordinary and necessary expenses 
on the property such as taxes, interest, repairs, insurance, 
agent's commissions, maintenance, and similar items. How- 
ever, you cannot deduct any capital investments or improve- 
ments. For example, if you are a landlord, you can deduct 
the cost of minor repairs but not the cost of major improve- 
ments such as a new roof or remodeling. 

Expenses, depreciation, and depletion should be listed in 
total in the columns provided in Schedule F. 
// You Rent Part of Your House, Etc. — If you rent out only 
part of your property, you deduct only a similar portion of 
the expenses. For example, if you rent out one-half of your 
home, and live in the other half yourself, you can deduct 
only one-half of the depreciation and other expenses. 

Room rent and other space rentals should be reported as 
business income in separate Schedule C if services are ren- 
dered to the occupant. 

If you are engaged in the trade or business of selling real 
estate to customers, you should also report rentals received 
in separate Schedule C. 

Estates and Trusts 

If you receive or are entitled to receive income from an 
estate or trust, you must report in your personal tax return 
any of its income which you have received or are entitled 
to receive. The administrator, executor, or trustee should 
advise you what to report. 

Include in Schedule G of your return your share of the 
distributable income (whether actually received by you or 
not) of an estate or trust whose taxable year ends within 
the year covered by your return. In computing the amount 
of the net income of the estate or trust for this purpose, do 
not include : 

(a) Interest on obligations of the United States or its 
instrumentalities which is exempt from normal tax (see 
Interest). Your share of this interest should be reported in 
Schedule B, page 2, of your return. 

(b) Income taxes paid to a foreign government and in- 



come taxes paid a.t the source on- tax-free covenant bond 
interest. If you itemize your deductions on Long-Form 1040, 
your share of these items should be entered on page 3. 

Other Income 

If you cannot find any specific place on your tax return 
to list some type of income, you should put it in Schedule 
G, page 2. For example, this is the proper place to report 
amounts received as alimony or separate maintenance under 
a court decree; rewards or prizes; recoveries of bad debts, 
taxes, losses, etc., which reduced your tax in a prior year, 
and health and accident insurance benefit payments re- 
ceived by you as reimbursements for medical expenses which 
reduced your tax In a prior year. 

How To Figure Depreciation 

As already indicated, in figuring your profit from rents, 
royalties, businesses and professions, the law does not allow 
you to deduct the full cost of your capital investments or 
improvements in the year made. In the case of capital invest- 
ments and improvements in depreciable property, such as 
buildings, machines, fixtures, and similar items having a 
useful life of more than one year, the law provides an annual 
depreciation allowance as the method of recovering the 
original capital cost tax-free. This means that you can 
spread the cost over as many years as it is expected to be 
useful. These rules apply to a profession the same as to a 
business. For instance, a lawyer can deduct the cost of his 
law books and a doctor can deduct the cost of his instru- 
ments only through the depreciation allowance. 
What Is "Useful Life".'— The useful life of a building, ma- 
chine, or similar property depends on how soon it will be- 
come obsolete, on the quality of materials and construction, 
climate, hard usage, and other factors. Past engineering 
experience provide reasonable estimates for figuring depre- 
ciation. Comprehensive tables of "average useful lives" of 
various kinds of buildings, machines, and equipment in many 
industries and businesses have been published in an official 
booklet called Bulletin F which you can buy for 30 cents 
from the Superintendent of Documents, Government Print- 
ing Office, Washington, D. C. The bases of the depreciation 
allowance are explained in section 1 14 of the Internal Reve- 
nue Code. 

Figuring the Deduction. — Once you make a reasonable esti- 
mate of the useful life of your property, you may divide its 
cost less salvage value, if any, by the number of years of 
such useful life, and that<is the amount you can deduct 
during each of these years. For example, suppose you own 
a house which has an estimated useful life of 40 years. If 
you rent the house to someone else, you can deduct from 
your rental income 2^4 percent of its cost (excluding the 
land cost) each year for 40 years. 

Cash or Accrual Accounting 

Your return must be on the "cash basis" unless you keep 
accounts on the "accrual basis." "Cash basis" means that 
all items of taxable income actually or constructively re- 
ceived during the year (whether in cash or property or 
services) and only those amounts actually paid during the 
year for deductible expenses are shown. Income is "con- 
structively" received when the amount is credited to your 
account, or set aside for you, and may be drawn upon by 
you at any time. Thus, constructive receipts include un- 
cashed salary or dividend checks, bank interest credited to 
your account, matured bond coupons, and similar items 
which you can immediately turn into cash. The "accrual 
basis" means that you report income when earned, even 
though not received, and deductible expenses when incurred, 
even though not paid within the taxable period. 



371897 O - 56 -8 



108 



FACSIMILP:S of tax returns for 1952 



Information Repdrts 

Every person who made payments of salary, wages, com- 
missions, interest, rents, alimony, or other fixed or determin- 
able income of $600 or more during the calendar year 1952 
to an individual, partnership, or fiduciary, must make a 
return on Forms 1096 and 1099. If a portion of such salary 
or wage payments was reported on a Withholding State- 
ment (Form W-2) , only the remainder must be reported on 
Form 1099. 

Declarations of Estimated Tax 

Because the withholding tax on wages is not sufficient to 
keep many taxpayers — particularly business owners, pro- 
fessional persons, investors, and landlords — paid up on their 
income tax, the law requires them to file Declarations of 
Estimated Tax and to make quarterly payments in advance 



of the annual income tax return. Such persons, therefore, 
must not only file their 1952 income tax returns, but also 
declarations for 1953 on Form 1040-ES by March 15. 
Specifically, the declaration is required of anyone who ex- 
pects to receive (a) 1953 wages exceeding $4,500 plus $600 
multiplied by the number of his exemptions (for example, 
$5,100 for a single person with no dependents, or $5,700 for 
a married man, with no dependents, whose wife has no 
income) ; or (b) 1953 income of more than $100 from all 
sources other than wages subject to withholding, provided 
his total income is expected to be $600 or more. 

Farmers who are required to file declarations may post- 
pone filing until next January 15; furthermore, if they file 
their final return and pay the tax due by January 31, they 
may omit the declaration. 

The Director will mail Form 1040-ES to persons who 
filed taxable declarations last year. Others needing this form 
may obtain it upon request. 



HOW TO CLAIM NONBUSINESS DEDUCTIONS 



Contributions 

If you itemize deductions on a Long-Form 1040, you 
can deduct gifts to religious, charitable, educational, scien- 
tific, or literary organizations, and organizations for the 
prevention of cruelty to children and animals, except when 
the organization is operated for personal profit, or to con- 
duct propaganda or otherwise attempt to influence legisla- 
tion. You can deduct gifts to fraternal organizations if they 
are to be used for charitable, religious, etc., purposes. You 
can also deduct gifts to veterans' organizations, or to a 
governmental agency which will use the gifts for public 
purposes. A contribution may be made in money or prop- 
erty (not services), but if in property, then the amount of 
the contribution is measured by the fair market value of 
the property at the time of the contribution. 

However, deductions for contributions may not exceed 
20 percent of your adjusted gross income (item 4, page 1). 

The law does not allow deductions for gifts to individuals, 
or to other types of organizations, however worthy. 

While you can deduct gifts to the kind of organizations 
listed above, you cannot deduct dues or other payments to 
them for which you receive personal benefits. For example, 
you can deduct gifts to a YMCA but not dues. 

Some examples of the treatment of contributions are : 

You CAN Deduct Gifts To: 

Churches, including assessments Boy Scouts, Girl Scouts 
Red Cross, Salvation Army Tuberculosis societies (Christ- 
American Legion, VFW, DAV mas seals) 
Nonprofit schools and hospitals American Cancer Society 
Community chests 

You CANNOT Deduct Gifts to: 

Relatives, friends, other indi- Social clubs 
viduals Labor unions 

Propaganda organizations Chambers of commerce 

Political organizations or candi- 
dates 

Interest 

If you itemize deductions on a Long-Form 1040, you can 
deduct interest you paid on your personal debts, such as 
bank loans or home mortgages. Interest paid on business 
debts should be reported in separate Schedule C or Sched- 
ule F, page 2, of Form 1040. Do not deduct interest paid 
on money borrowed to buy tax-exempt securities, single- 
premium life insurance or endowment contracts, or interest 
paid on behalf of another person unless you were legally 

10 



liable to pay it. In figuring the interest paid on a mortgage 
or an installment contract, be careful to distinguish between 
the amount specifically charged as interest and other items 
such as carrying charges, taxes, or insurance. Following are 
examples of the treatment of interest paid : 

You CAN Deduct Interest On: 

Your personal note to a bank Delinquent taxes 

or an individual Installment contract if interest 

A mortgage on your house is specifically charged 

A life insurance loan, if you pay 

the interest in cash 

You CANNOT Deduct Interest On: 



A life insurance loan, if interest 
is added to the loan and you 
report on the cash basis 



Indebtedness of another person, 
when you are not legally lia- 
ble for payment of the interest 

A gambling debt or other non- 
enforceable obligation 

Taxes 

If you itemize deductions on a Long-Form 1040, you 
can deduct most non-Federal taxes paid by you. You can 
deduct State income taxes, personal property taxes, and 
real estate taxes (except those assessed for pavements or 
other local improvements which tend to increase the value 
of your property). You can deduct State or local retail 
sales taxes if under the laws of your State they are imposed 
directly upon the consumer, or if they are imposed on the 
retailer (or wholesaler in case of gasoline taxes) and the 
amount of the tax is separately stated by the retailer to the 
consumer. 

Do not deduct on page 3 any nonbusiness Federal taxes, 
or any taxes paid in connection with a business or profession 
which are deductible in separate Schedule C or Schedule F, 
page 2, of Form 1040. Following are examples of the treat- 
ment of some common taxes : 



Auto license fees 

State capitation or poll taxes 

State gasoline taxes 



You CAN Deduct: 

Personal property taxes 

Real estate taxes 

State income taxes 

State or local retail sales taxes 

You CANNOT Deduct: 

Any Federal excise taxes on your Hunting licenses, dog licenses 

personal expenditures, such as Auto inspection fees 

taxes on theater admissions, Water taxes 

furs, jewelry, cosmetics, rail- Taxes paid by you for another 

road tickets, telephone, etc. person 

Federal social security taxes 



FACSIMILES OF TAX RP^TURNS FOR 1952 



109 



Casualty Losses and Thefts 

If you itemize deductions on a Long-Form 1040, you 
can deduct your net loss from the destruction of your prop- 
erty in a fire, storm, automobile accident, shipwreck, or 
other losses caused by natural forces. Damage to your car 
by collision or accident can be deducted if due merely to 
faulty driving but cannot be deducted if due to a willful 
act or negligence for which you are responsible. You can 
also deduct losses due to theft, but not losses due to mislaying 
or losing articles. 

You should determine the amount of any casualty loss by 
comparing the fair market value of the property just before 
and just after the casualty. This loss, or the original cost of 
the property less depreciation, whichever is lower, should 
then be reduced by any insurance or other reimbursement 
to arrive at your deductible loss. Attach a statement explain- 
ing your computation. 

If your 1952 casualty losses exceed your 1952 income, the 
excess may be carried back as a "net operating loss" to offset 
your income for 1951, and any remaining excess may be 
carried over to the years 1953-1957, inclusive. " 

Following are examples of the treatment of losses arising 
from some causes: 

You CAN Deduct Losses On: 

Property sucli as your home, Property, including cash, which 

clothing, or automobile de- is stolen from you 

stroyed or damaged by fire Damage to your auto by acci- 

Loss or damage of property by dent, if not due to your will- 
flood, lightning, storm, explo- ful negligence 
sion, or freezing 

You CANNOT Deduct Losses On: 

Personal injury to yourself or Damage by insects, rust, or grad- 

another person ual erosion 

Accidental loss by you of cash Animals or plants damaged or 

or other personal property destroyed by disease 
Property lost in storage or in 

transit 

Medical and Dental Expenses 

If you itemize deductions on a Long-Form 1040 you can 
deduct, within the limits described below, the net amount 
you paid for medical or dental expenses for yourself, your 
wife, or any dependent who received over one-half of his 
support from you. If you pay medical expenses for one of 
your children who gets over half of his support from you, 
you can deduct the payments even though the child earned 
$600 or more and therefore you cannot claim an exemption 
for him in item 1, page 1, of your return. 

You can deduct payments to doctors, dentists, nurses, 
hospitals, etc., provided the payments are for the preven- 
tion, cure, correction, or alleviation of a bodily condition. 
If you pay someone to perform both nursing and domestic 
duties, you can deduct only that part of the cost which is 
for nursing. 

You can deduct the cost of eyeglasses, artificial teeth, 
crutches, braces, hearing aids. X-rays, ambulance service, 
medicine, and similar items. 

You can deduct the cost of necessary travel in connection 
with medical treatment, but you cannot deduct any other 
travel even if it benefits your health. 

Limitations. — The law allows you to deduct only those 
medical and dental expenses which exceed 5 percent of 
your adjusted gross income (item 4, page 1 ) . (If either you 
or your wife were 65 or over, you may claim the entire 
amount of your medical expenses for you and your wife, plus 
that portion of your medical expenses for dependents which 



exceeds 5 percent of your adjusted gross income.) Your 
deduction must be reduced by any insurance, compensation, 
or other reimbursement you receive for these expenses. 
Furthermore, the law limits the deduction to a maximum 
of (a) $1,250 if you claim only one exemption (item 1, 
page 1) ; (b) if you are a single person or a married person 
filing a separate return and claim more than one exemption, 
$2,500; (c) if you are a married couple filing a joint return, 
$2,500 if two exemptions are claimed, $3,750 if three exemp- 
tions are claimed, and $5,000 if four or more exemptions are 
claimed. (Do not count exemptions for age or blindness.) 

You CAN Deduct Cost Of: 

Payments to doctors, dentists, 
nurses, and hospitals 

Drugs, medical or surgical ap- 
pliances, braces, etc. 

Travel necessary to get medical 
care 



Eyeglasses and artificial teeth 
X-ray examinations or treat- 
ment 
Premiums on health and acci- 
dent insurance, and hospital 
or medical insurance 



You CANNOT Deduct Cost Of: 

Travel ordered or suggested by 
your doctor for rest or change 
Premiums on life insurance 



Funeral expenses 

Cemetery plot 

Illegal operations or drugs 



Miscellaneous 

If you itemize deductions on a Long-Form 1040, you 
can deduct several other types of expenses under the head- 
ing "miscellaneous." 

If you work for wages or a salary, you can deduct the 
ordinary and necessary expenses which you incur for your 
employer's benefit. For example, if your job requires you 
to furnish small tools, you can deduct their cost. Do not 
deduct on page 3 expenses for travel, meals, and lodging 
away from home, or reimbursed expenses, which should 
be deducted in item 2, page 1, Form 1040. You cannot 
deduct any expenses which are for your own convenience 
or benefit. 

If you have investments (such as income-producing 
securities or real estate) which are not part of your business 
or profession, you can deduct the cost of protecting, or 
managing your investments. For example, you can deduct 
the rental cost of a safety-deposit box in which you keep 
securities, but not the cost of a box used merely for jewelry, 
insurance policies, and other valuables. 

If you are divorced or legally separated and are making 
periodic payments of alimony or separate maintenance 
under a court decree, you can deduct these amounts. How- 
ever, you cannot deduct lump-sum settlements, or any vol- 
untary payments not under a court order. 

You may not deduct gambling losses in excess of gam- 
bling winnings. 

If you have bought bonds for more than their face value, 
you can deduct an amortized portion of the premium. See 
section 125 of the Internal Revenue Code for details. 

If you are a tenant-stockholder in a cooperative apart- 
ment corporation, you can deduct your share of its payments 
for interest and real-estate taxes. 

Examples of the treatment of expenses in connection with 
your job are : 

You CAN Deduct Cost Of: 



Safety equipment 
Dues to union or professional 
societies 



Entertaining customers 

Tools and supplies 

Fees to employment agencies 



You CANNOT Deduct Cost Of: 

Travel to and from work Nursemaid, even if she enables 

Entertaining friends parent to work 

Bribes and illegal payments Educational expenses 

11 



no 



FACSIMILES OF TAX KETURNS FOR 1952 



HOW TO FIGURE YOUR TAX 



Using the Tax Table 

To save arithmetic for the average taxpayer, the law 
provides a table which shows the correct tax for any income 
up to $5,000. If you file Form 1040 A, the Director uses 
this table to determine your tax for you. If you file a 
Short-Form 1040 you will find the table on the back of 
the form (page 4), and determine your tax yourself. 
The table is based on the same rates used in a Long-Form 
1040 computation. The table makes allowance for your 
exemptions, for any split-income benefits due married 
couples filing joint returns, for benefits due heads of house- 
hold, and also for an allowance of about 10 percent of your 
income for nonbusiness deductions on account of contribu- 
tions, interest, taxes, medical expenses, etc. If your actual 
deductions are larger than 10 percent of your income, you 
have the right to file a Long-Form 1040 and claim them. 

To find your tax in the table, read down the shaded 
columns until you find the line that covers your income. 
For example, if your income was $3,275, you should use 



1952 Tax Rate Schedule 



the line which is for incomes of at least $3,250 but less 
than $3,300. When you find the proper income line, read 
across to the column which is headed by a number which 
equals the number of your exemptions. Remember, you 
listed your exemptions in item 1, page 1, of Form 1040. 
Using the same example, suppose you had 4 exemptions. 
Reading across the $3,25O-$3,300 income line to column 
No. 4, you find the tax is $122. 

Making a Long-Form Computation 

To make a long-form computation of tax on page 3 of 
Form 1040— 

1. Start with your adjusted gross income. 

2. Subtract your itemized nonbusiness deductions or the 
standard deduction. 

3. Subtract your exemptions ($600 each). 

4. If the remainder is $2,000 or less, compute your tax 
on line 6; otherwise, use the tax rate schedule below to 
compute your tax on line 7 or 8. 

Use this schedule to compute your tax to be entered on either line 7 or line 8 (b) , page 
3, of the return: 



I. FOR ALL TAXPAYERS 
EXCEPT HEAD OF HOUSEHOLD 



If the amount in line 5 or 8 (a) is: 

Not over $2,000 

Over $2,000 but not over $4,000 . . . 
Over $4,000 but not over $6,000 .. . . 
Over $6,000 but not over $8,000, . . . 
Over $8,000 but not over $10,000 . . . 
Over $10,000 but not over $12,000 
Over $12,000 but not over $14,000 
Over $14,000 but not over $16,000 
Over $16,000 but not over $18,000 
Over $18,000 but not over $20,000 . 
Over $20,000 but not over $22,000 . 
Over $22,000 but not over $26,000 . 
Over $26,000 but not over $32,000 . 
Over $32,000 but not over $38,000 . 
Over $38,000 but not over $44,000 . 
Over $44,000 but not over $50,000 . 
Over $50,000 but not over $60,000. 
Over $60,000 but not over $70,000 . 
Over $70,000 but not over $80,000. 
Over $80,000 but not over $90,000 
Over $90,000 but not over $100,000 
Over $100,000 but not over $150,000 
Over $150,000 but not over $200,000 
Over $200,000 



Enter in line 7 or 8 {b): 
11.1% of the amount on line 5 or 8 (j) 
$444, plus 24.6% of excess over $2,000 
.$936, plus 29% of excess over $4,000 
. $1 ,516, plus 34%, of excess over $6,000 
.$2,196, plus 38% of excess over $8,000 
. $2,956, plus 42% of excess over $10,000 
. $3,796, plus 48% of excess over $12,000 
. $4,756, plus 53% of excess over $14,000 
. $5,816, plus 56% of excess over $16,000 
, $6,936, plus 59% of excess over $18,000 
. $8,116, plus 62% of excess over $20,000 
. $9,356, plus 667o of excess over $22,000 
.$11,996, plus 67% of excess over $26,000 
. $16,016, plus 68% of excess over $32,000 
. $20,096, plus 72% of excess over $38,000 
. $24,416, plus 75% of excess oirer $44,000 
. $28,916, plus 77% of excess over $50,000 
. $36,616, plus 80% of excess over $60,000 
. $44,616, plus 83% of excess over $70,000 
$52,916, plus 85% of excess over $80,000 
$61,416, plus 88% of excess over $90,000 
$70,216, plus 90%of excess over $100,000 
$115, 216, plus 91%ofexccssover $150,000 
$160,716, plus 92% of excess over $200,000 



II. FOR HEAD OF HOUSEHOLD ONLY 



If the amount in line 5 is: 

Not over $2,000 

Over $2,000 but not over $4,000 

Over $4,000 but not over $6,000 

Over $6,000 but not over $8,000 

Over $8,000 but not over $10,000 . . . 
Over $10,000 but not over $12,000 . . , 
Over $12,000 but not over $14,000. . 
Over $14,000 but not over $16,000. . , 
Over $16,000 but not over $18,000. . . 
Over $18,000 but not over $20,000. . 
Over $20,000 but not over $22,000. . 
Over $22,000 but not over $24,000 . . 
Over $24,000 but not over $28,000 . . 
Over $28,000 but not over $32,000 . . 
Over $32,000 but not over $38,000 . . 
Over $38,000 but not over $44,000 . . 
Over $44,000 but not over $50,000 . . 
Over $50,000 but not over $60,000 . 
Over $60,000 but not over $70,000 . . 
Over $70,000 but not over $80,000 . . 
Over $80,000 but not over $90,000 . . 
Over $90,000 but not over $100,000 . 
Over $100,000 but not over $150,000 
Over $150,000 but not over $200,000 
Over $200,000 but not over $300,000 
Over $300,000 



Enter in line 7: 

22.2% of the amount on line 5 
$444, plus 23.4% of excess over $2,000 
$912, plus 27% of excess over $4,000 
$1 ,452, plus 29% of excess over $6,000 
$2,032, plus 34% of excess over $8,000 
$2,712, plus 35% of excess over $10,000 
$3,412, plus 41% of excess over $12,000 
$4,232, plus 44% of excess over $14,000 
$5,112, plus 47% of excess over $16,000 
$6,052, plus 48% of excess over $18,000 
$7,012, plus 52% of excess over $20,000 
$8,052, plus 54% of excess over $22,000 
$9,132, plus 57% of excess pver $24,000 
$11,412, plus 60% of excess over $28,000 
$13,812, plus 63% of excess over $32,000 
$17,592, plus 66% of excess over $38,000 
. $21 ,552, plus 71% of excess over $44,000 
$25,812, plus 72% of excess over $50,000 
$33,012, plus 73%of excess over $60,000 
, $40,312, plus 77%, of excess over $70,000 
, $48,012, plus 79% of excess over $80,000 
$55,912, plus 81% of excess over $90,000 
. $64,012, plus 85% of excess over $100,000 
.$106,512, plus 88% of excessover$150,000 
.$150,512, plus 91%ofexcessover$200,000 
.$241,512, plus 92% of excessover$300,000 



Adjustment for Pariially Tax-Exempt Interest. — If you itemize 
your deductions, tfie tax to be entered on line 6, 7, or 8 (c), page 
3, should be reduced by 3% of any partially tax-exempt interest 
included in line 3, or 3% of line 5, whichever amount is the lesser. 
If you so reduce your tax, attach a statement. Items to be considered 
in the adjustment on either line 6, 7, or 8 (c) are (a) interest on 
the excess over $5,000 of United States Savings bonds (at cost) 
and Treasury bonds (at face value) issued prior to March 1, 1941 ; 

(b) interest on obligations of instrumentalities of the United States 
issued prior to March 1, 1941 (other than Federal land banks. 
Federal intermediate credit bants, and joint-stock land banks) ; and 

(c) dividends on share accounts in Federal savings and loan associa- 
tions if the shares were issued prior to March 28, 1942. 



Your Tax Due or Refund 



Credit for Withholding Tax. — To assure credit for any tax withheld 
from your wages, itemize the taxes withheld as item 2, page 1, and 
report the total amount as item 6 (A), and be sure to attach all 
Original Withholding Statements (Form 'W-2) received from your 
employers for the year. If you have lost any Withholding Statements, 
ask your employer for a copy. If you cannot, for any reason, furnish 

12 



Withholding Statements for all taxes withheld from you, attach an 
explanation. 

Credit for F. I.C.A. Tax. — If more than $54 of F. I. C. A. employee 
tax was withheld during 1952 because you worked for more than one 
employer, the excess may be claimed as a credit against income tax. 
Enter any excess of F. I. C. A. tax withheld over $54 in the "Income 
Tax Withheld" column of item 2, page 1, and write "F. I. C. A. tax" 
in the "Where Employed" column. Compute the credit separately 
for husband and wife, if this is a joint return. 

Credit for Estimated Tax Payments. — If you paid any estimated tax 
on a Declaration of Estimated Tax (Form 1040-ES) for 1952, 
report the total of such payments as item 6 (B) on page 1. If on 
your 1951 return you had an overpayment which you chose to apply 
on your 1952 tax include this in item 6 (B). 

Balance of Tax or Refund. — After figuring your tax either from the 
tax table or from the long-form computation, enter the amount as 
item 5 (A), page 1. Enter as item 5 (B) the amount of your self- 
employment tax shown on line 35, separate Schedule C. Show as 
item 7 any balance you owe, or as item 8 the amount of any over- 
payment due you after taking credit for the amounts entered as 
item 6. If you have overpaid, you can choose, by showing below item 
8, the amount you wish to receive as a refund, or the amount of 
overpayment you wish credited to your 1953 estimated tax. 

onr-16 — 67200-1 u. S government PRrNTINC OFFICE 



FACSIMILES OF TAX RETURNS FOR 1952 111 

PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION 1 952 

(For Computation of Self-Employment Tax, see Page 3) 

For Calendar Year 1952 or taxable year beginning , 1952, and ending , 195.„. 



SCHEDULE C (Form IIMO> 
U. S. Treasury Department 
Internal Revenue Service 



Name and Address (from Form 1040) 



(Partnerships and joint ventures should file on Form 1065) 

(I) Principal business activity (sec instructions) _ __ __ 

(Retail trade, wholesale trade, lawyer, etc.) (Principal product or service) 
(III) FICA employer identification number, 
(II) Business name if any (see instructions) 

(IV) Business address (sec instructions) __ 

(Street and number or rural route) (City, town, post office) (County) (State) 



(V) Were you the sole proprietor of this business in 1951? Yes D No Q- U "No," check whether this business in 1952 became a successor to 
a corporation □, a partnership D. another sole proprietorship □, or started as an entirely new business □. Where applicable, give name of such 

predecessor _ 

I Do NOT include cost of goods withdrawn foi- personal use or deductions not connected with your business or profession ~| 



1. Total receipts from business or profession 

COST OF GOODS SOLD 

2. Inventory at beginning of year 

3. Merchandise bought for manufacture or sale 

4. Cost of labor 

5. Material and supplies 

6. Other costs (explain in Schedule C-2) 

7. Total of lines 2 to 6 

8. Less inventory at end of year 

9. Net cost of goods sold (line 7 less line 8) 

10. Gross profit (line 1 less line 9) 

OTHER BUSINESS DEDUCTIONS 

11. Salaries and wages not included in line 4 

12. Rent on business property 

13- Interest on business indebtedness 

14. Taxes on business and business property 

15. Losses of business property (attach statement) 

16. Bad debts arising from sales or services 

17. Depreciation and obsolescence (explain in Schedule C-1) 

18. Repairs (explain in Schedule C-2) 

19. Depletion of mines, oil and gas wells, timber, etc. (submit schedule). . . . 

20. Amortization of emergency facilities (attach statement) 

21. Other business expenses (explain in Schedule C-2) 

22. Total of lines 11 to 21 



$ - 



23. Enter net profit (or loss) (line 10 less line 22). Also enter on line 24, page 3, and on line 1, 
Schedule C Summary, Form 1040 



$- 



Schedule C-1. EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED ON LINE 17 






1. Kind of property (if buildinis, state material of 

■bicli nnsfeucledX Eiclude land and otiier 

nondepreciable property 


2. Date 
acquired 


3. Cost or other basis 


4. Depreciation al- 
lowed (or allowable) 
in prior years 


Si Rcmainini cost or 

other basis lo be 

recovered 


6. Life used in 
atcumulatini 
depreciation 


7. Estimated life 

from betinning 

of rear 


8. Depreciatioi 
allowable tbis ytar 






$ 


.« 




$ 








$ 





























































































































Schedule C-2. EXPLANATION OF LINES 6, 18, AND 21 



liM« 
Cduu H*. 


E>|ilanatioii 


Amount 


Line or 
bkimn No. 


Eipl3n3tion 


Amount 






$.... 








$ 

















































































112 



FACSIMILES OF TAX RETURNS FOR 1952 



INSTRUCTIONS 



Page 2 



If you owned a business, or practiced a profession, you should 
fill in separate Schedule G on other side and enter the net profit 

(or loss) on line 1, Schedule C Summary, page 2, Form 1040. 

• 

Separate Schedule C should include income from ( 1 ) sale of 
merchandise, or products of manufacturing, mining, and con- 
struction; (2) business service; and (3) professional service. In 
general, you should report any income in the earning of which 
you have incurred expenses for material, labor, supplies, and the 
like. A farmer keeping his books of account on the accrual basis 
may include the income in such schedule from the sale of products 
of agriculture in lieu of including such income in Form 1040F. 

Principal Business Activity. — The principal business activity is 
the one which accounts for the largest percentage of your total 
receipts. State the general classification of such activity, as well 
as the principal product or service. For example, "Wholesale 
food," "Retail apparel," "Manufacturing furniture," "Transporta- 
tion by truck," "Real estate agent," "Doctor," etc. 

Employer Identification Number. — This is the number given on 
line 10, Form 941, Employer's Quarterly Tax Return under Fed- 
eral Insurance Contributions Act (F. I. C. A.), which you file as 
an employer. 

Business Address. — Do not use home address as business address 
unless business is actually conducted from home. 

Total Receipts. — You should include all income derived from 
your trade or business. In determining the amount to be entered 
as total receipts, you should subtract from your total income such 
items as cost of returned goods, rebates, and allowances from the 
sale price or service charge. 

Cost of Goods Sold. — If you are engaged in a trade or business in 
which the production, purchase, or sale of merchandise is an 
income-producing factor, you should, in order to reflect the gross 
profits correctly, take an inventory of merchandise on hand at the 
beginning and end of the taxable year. Generally, the bases of 
valuation most commonly used by business concerns and which 
meet the requirements of the applicable law and regulations are 
(a) cost and (6) cost or market, whichever is lower. The basis 
properly adopted for the first year is controlling, and a change can 
be made only after permission is secured from the Commissioner. 
Application for permission to change the basis of valuing inven- 
tories must be made in writing and filed with the Commissioner 
within 90 days after the beginning of the taxable year in which it 
is desired to effect a change. You should enter the letters "C" or 
"C or M" immediately before the amount column, if inventories 
are valued at either cost, or cost or market, whichever is lower. 

Other bases of valuing or methods of inventorying material or 
merchandise are provided in the cases of dealers in securities, 
farmers, miners, and manufacturers who by a single process pro- 
duce more than one product, and retail merchants using the "retail 
method." 

Another special method based on cost is the elective method 
which is allowable only if you file an application on Form 970 
with your return for the first year of election. The requirements 
with respect to the adoption and use of the elective inventory 
method are set forth on such form. Thereafter, you should 
attach a separate schedule showing: (a) A summary of all inven- 
tories; (&) with respect to inventories computed under the elective 
method, if any, the computation of quantities and cost by acquisi- 
tion levels. 

Installment Sales. — If you use the installment method of report- 
ing income from sales, you should attach to your return a schedule 
showing separately for the years 1949, 1950, 1951, and 1952 the 
following: (a) Gross sales; (b) cost of goods sold; (c) gross 
profits; (d) percentage of profits to gross sales; (e) amounts col- 
lected; and (/) gross profits on amount collected. 

Salaries and Wages. — You should enter all salaries and wages 
not included as "Cost of Labor" under "Cost of Goods Sold." 
Do not deduct any salary or wages for your own services or services 
of others not performed in connection with your business. 

Rent on Business Property. — Rents paid or accrued on business 
property in which you have no equity are deductible. Do not in- 
clude rent for a building, or any part, which you occupy solely 
for residential purposes. 

Interest on Business Indebtedness. — Interest on business indebt- 
edness to others is deductible. Do not include interest to yourself 
on capital invested in or advanced to the business. 

Taxes on Business and Business Property. — Include taxes paid or 
accrued on business property or incurred for carrying on your 
business. Federal import duties and Federal excise and stamp taxes 



are deductible if paid or incurred in carrying on a trade or busi- 
ness. Do not include taxes assessed against local benefits of a kind 
tending to increase the value of the property assessed, as for pav- 
ing, sewers, etc. 

Losses of Business Property. — You may deduct losses of business 
property by fire, storm, or other casualty, or theft, not compen- 
sated by insurance or otherwise and not made good by repairs 
claimed as a deduction. Attach a statement showing a description 
of the property, date acquired, cost, subsequent improvements, de- 
preciation allowable since acquisition, insurance, salvage value, and 
deductible loss. 

Bad Debts Arising From Sates or Services. — Include debts, or 
portions thereof, arising from sales or professional services that 
have been reflected in income, which have been definitely ascer- 
tained to be worthless, or such reasonable amount as has been 
added to a reserve for bad debts within the taxable year. A debt 
previously deducted as bad which reduced your tax in a prior year, 
if subsequently collected, must be returned as income for the year 
in which collected. 

Depreciation and Obsolescence. — You may deduct a reasonable 
allowance for exhaustion, wear and tear, and obsolescence of prop- 
erty used in the trade or business. If the property was acquired by 
purchase on or after March 1, 1913, the amount of depreciation 
should be determined upon the basis of the original cost (not re- 
placement cost) of the property, and the probable number of years 
remaining of its expected useful life. In case the property was pur- 
chased prior to March 1, 1913, the amount of depreciation will be 
determined in the same manner, except that it will be computed on 
its original cost, less depreciation sustained prior to March 1, 1913, 
or its fair market value as of that date, whichever is greater. The 
capital sum to be recovered should be charged off ratably over the 
useful life of the property. 

If a deduction is claimed on account of depreciation you should 
fill in Schedule C-1. In case obsolescence is included, state sepa- 
rately amount claimed and basis upon which it is computed. Land 
values or cost must not be included in this schedule, and where 
land and buildings were purchased for a lump sum, the cost of the 
building subject to depreciation must be established. The adjusted 
property accounts and the accumulated depreciation shown in the 
schedule should be reconciled with those accounts as reflected on 
your books. 

Repairs. — You may deduct the cost of incidental repairs, includ- 
ing labor, supplies, and other items, which do not add to the value 
or appreciably prolong the life of the property. Expenditures for 
new buildings, machinery, equipment, or for permanent improve- 
ments or betterments which increase the value of the property are 
chargeable to capital accounts. Expenditures for restoring or re- 
placing property are not deductible, since such expenditures are 
chargeable to capital accounts or to depreciation reserve depend- 
ing on how depreciation is charged on your books. 

Depletion of Mines, Oil and Gas Wells, Timber, Etc. — If a de- 
duction is claimed on account of depletion, you should procure 
from the director Form M (mines and other natural deposits), 
Form O (oil and gas), or Form T (timber), fill in and file with 
return. If complete valuation data have been filed with question- 
naire in previous years, then file with your return information nec- 
essary to bring depletion schedule up to date, setting forth, in full, 
statement of all transactions bearing on deductions from or addi- 
tions to value of physical assets during the taxable year with ex- 
planation of how depletion deduction for the taxable year has been 
determined. 

Amortization. — You are entitled, at your election, to a deduction 
with respect to the amortization of the adjusted basis of any emer- 
gency facility the construction, reconstruction, erection, or instal- 
lation of which was completed after December 31, 1949, or the 
acquisition of which occurred after December 31, 1949, and with 
respect to which the Government has issued a certificate of neces- 
sity. A statement of the pertinent facts should be filed with the 
taxpayer's election to take amortization deduction with respect to 
such facility. (See section 124A of the Internal Revenue Code and 
the regulations issued thereunder.) 

Other Business Deductions. — You should include all ordinary 
and necessary business expenses for which no space is provided in 
the schedule. Any deduction claimed should be explained in Sched- 
ule C-2. Do not include cost of business equipment or furniture, 
expenditures for replacements, or for permanent improvements to 
property, nor personal living and family expenses. 

Net Operating Loss Deduction. — Any net operating loss deduc- 
tion should be entered in Schedule C Summary, Form 1040, in- 
stead of in this schedule. 

18—62533-2 



FAC^SIMILES OF TAX RP^TURNS FOR 1952 



113 



COMPUTATION OF SELF-EMPLOYMENT TAX 

CFor old-age and survivors Insurance) 



Pafst 



Name of self-employed person — 

State nature of business, if any, subject to self-employment tax 



24. Net profit (or loss) shown on line 23, page 1 

25. Losses of business property shown on line 15, page 1. 

26. Total of lines 24 and 25 



$- 



27. Less: Net income (or loss) from excluded services or sources included in line 26. 
Specify excluded services or sources 



28. Net earnings from self-employment (line 26 less line 27). 



29. Net earnings (or loss) from self-employment from partnerships, joint ventures, etc. (from column 
10, Schedule K, Form 1065) 



30. Total net earnings (or loss) from self-employment (line 28 plus line 29). 
(If total of net earnings is under $400, do not make any entries below) 



31. Maximum amount subject to self-employment tax. 



32. Less: Wages paid to you during the taxable year which were subject to with- 

holding for old-age and survivors insurance. (If such wages exceed $3,600, 
enter $3,600) 

33. Maximum amount subject to self-employment tax after adjustment for wages. . 



$ 3, 600 



00 



34. Self-employment income subject to tax — Line 30 or 33, whichever is smaller. 



35. Self-employment tax — 2>4 percent of amount on line 34. Enter here and as item 5 (B), page 1, 
Form 1040 



$ 



$.„.. 



$ 



16—62633-2 



Fill IN ITEMS BEIOW BUT DO NOT DETACH 



Scliedule C-a (Form 1040) 

V. 8. TREASURY DEPARTMENT 
Internal Revenue Service 



U. S. REPORT OF SELF-EMPLOYMENT INCOME 

(For Federal Old-Age and Survivors Insurance) 



For calendar year 1952 or fiscal year beginning 

State nature of business subject 

to self-employment tax 



1952 

, 1952, and ending .., 195.... 



000 


00 


0000 



ENTEB HERE THE SOCIAL SECURITY ACCOUNT 
NUMBER OF THE PERSON NAMED BELOW 



ENTER BELOW. NAME OF SELF-EMPLOYED PERSON AND BUSINESS ADDRESS 



(Name) 



ADDRESS (Street and number, or rural roHte) 
(City or town, postal zone number) (State) 



Enter total net earnings 
from self-employment 
shown on line 30 above.. $. 



Enter wages shown on 
line 32 above $. 



Enter self-employment 
income shown on line 34 
above $- 



lU 



FACSIMILES OF TAX EETURNS FOR 1952 



Schedule C (Form 1040). — Schedule C serves two purposes. 
First, it provides for the determination of net profit (or loss) from 
business or profession to be used in computing income tax. Second, 
it provides for the computation of the self-employment tax in 
accordance with Subchapter E, Chapter 1 of the Internal Revenue 
Code, as added by the Social Security Act Amendments of 1950. 



Page 4 
PURPOSE OF THIS FORM 

Schedule C-a (Form 1040). — The lower portion of page 3, 
Schedule C, which is designated as Schedule C-a (Form 1040), is 
designed to provide the Social Security Administration with the 
information on self-employment income necessary for old-age and 
survivors insurance purposes. 



INSTRUCTIONS 



SELF-EMPLOYMENT TAX 

In general, every individual deriving income during the taxable 
year from a trade or business carried on by him or from a partner- 
ship of which he is a member is subject to the self-employment tax, 
the computation of which is made on lines 24 through 35. 

"Net earnings from self-employment" (line 30) is the gross in- 
come derived by an individual from any trade or business carried 
on by him, less the allowable deductions attributable to such trade 
or business, plus his share of self-employment net earnings (or loss) 
from a partnership of which he is a member. 

EXCLUSIONS 

In determining the amount of net earnings from self-employ- 
ment report on line 27 income from the following sources or de- 
ductions attributable thereto: 

1. Certain professions.— Income from the performance of serv- 
ice as a physician, lawyer, dentist, osteopath, veterinarian, chiro- 
practor, naturopath, optometrist. Christian Science practitioner, 
architect, certified public accountant, accountant registered or 
licensed as an accountant under State or municipal law, full-time 
practicing public accountant, funeral director, or professional engi- 
neer; or income from the performance of such service by a part- 
nership; 

2. Religious services. — Income from the performance of service 
by a duly ordained, commissioned, or licensed minister of a church 
in the exercise of his ministry or by a member of a religious order 
in the exercise of duties required by such order; 

3. Farming. — Income from farming or from any other business 
in which, if the business were carried on exclusively by employees, 
the major portion of the services would constitute agricultural 
labor; 

4. Employees and public officials. — Income from the perform- 
ance of service as: 

(a) a public official, including a notary public; 
(6) an employee or employee representative under the rail- 
road retirement system; or 
(c) an employee. "Employee" includes among others: 

( 1 ) an agent-driver or commission driver engaged in 
distributing meat, vegetable, fruit, and bakery prod- 
ucts, beverages (other than milk), or laundry or 
dry-cleaning services; 

(2) a full-time life insurance salesman; 

(3) a home worker performing work subject to licensing 
requirements under State law; and 

(4) traveling or city salesmen generally, engaged upon 
a full-time basis for their principals (except for side- 
line sales activities on behalf of another person). 

Note. — The income of an employee over the age of 18 
from the sale of newspapers or magazines to an ultimate con- 
sumer is subject to the self-employment tax if the income 
consists of retained profits from such sales. ■ 

5. Real estate rentals. — Rentals from real estate, except rentals 
received in the course of a trade or business as a real estate dealer. 
Payments for the use or occupancy of rooms or other space where 
services are also rendered to the occupant, such as rooms in hotels, 
boarding houses, apartment houses furnishing hotel services, tour- 
ist camps, tourist homes, or space in parking lots, warehouses, or 
storage garages do not constitute rentals from real estate and there- 
fore are included in determining net earnings from self-employ- 
ment; 

6. Interest and dividends. — Dividends on shares of stock, and 
interest on bonds, debentures, notes, certificates, or other evidences 
of indebtedness, issued with interest coupons or in registered form 



by a corporation, or by a government or political subdivision there- 
of, unless received in the course of a trade or business as a dealer 
in stocks or securities; and 

7. Property gains and losses. — Gain or loss (A) from the sale or 
exchange of a capital asset, (B) to which section 117(j) is appli- 
cable, or (C) from the sale, exchange, involuntary conversion, or 
other disposition of property if such property is neither (a) stock 
in trade or other property of a kind which would properly be in- 
cludible in inventory if on hand at the close of the taxable year, 
nor (6) property held primarily for sale to customers in the ordi- 
nary course of the trade or business. 

Net operating losses. — In determining the net earnings from 
self-employment, no deduction for net operating losses of other 
years shall be allowed. 

MORE THAN ONE TRADE OR BUSINESS 

If an individual is engaged in more than one trade or business, 
his net earnings from self-employment are the aggregate of his net 
earnings from self-employment of each trade or business carried 
on by him. Thus, the loss sustained in one trade or business will 
operate to reduce the income derived from another trade or 
business. 

JOINT RETURNS 

Where husband and wife file a joint return, page 3 of Schedule C 
(Form 1040) should show the name of the one with self-employ- 
ment income. Where husband and wife each have self-employment 
income, a separate Schedule C must be attached for each. In such 
cases the total of amounts shown on line 23 of each separate sched- 
ule should be entered on line 1, Schedule C Summary, page 2, 
Form 1040, and the aggregate self-employment tax (line 35) 
should be entered as item 5(B), page 1, Form 1040. 

COMMUNITY INCOME 

For the purpose of computing net earnings from self-employ- 
ment, if any of the income from a trade or business is community 
income, all the income from such trade or business is considered 
the income of the husband unless the wife exercises substantially 
all the management and control of the trade or business, in which 
case all of such income is considered the income of the wife. 

If separate returns are filed by the husband and wife, a com- 
plete Schedule C should be attached to the return of the one with 
self-employment income. Community income included on such a 
schedule must, however, be allocated between the two returns (on 
line 1, Schedule C Summary, page 2, Form 1040) on the basis of 
the community property laws. 

In computing his aggregate net earnings from self-employment, 
a partner should include his entire share of such earnings from a 
partnership. No part of that share may be attributed to the part- 
ner's wife (or husband) even though the income may, under State 
law, be community income. 

SCHEDULE C-a (Form 1040) 

To assure proper credit to your account, be sure to enter your 
name and social security account number on Schedule C— a (Form 
1040) exactly as they are shown on your social security card. If 
you do not have a social security account number, you must get 
one in time to enable you to file your return on or before the due 
date. These account numbers are obtainable from any of the ap- 
proximately 500 Social Security Administration Field Offices 
throughout the country. The telephone directory or your local 
post office will give you the address. Do not delay filing your re- 
turn beyond the due date even though you have not obtained your 
social security account number. 

Regardless of whether a joint or separate returns on Form 1040 
are filed by husband and wife. Schedule C-a (Form 1040) should 
show only the name of the one with the self-employment income. 

oar-lO — 02A33-2 U. s. government PRINTINft OFrlcc 



FACSIMILES OF TAX RETURNS FOR 1952 

GAINS AND LOSSES FRO.M SALES OR EXCNAHSES OF PROPERTY 

For Calendar Year 1952 or taxable year beginning , 1S52, and endtng 



115 



SCHEDULE D (Form 1M3) 
U. S. Trastury DtpmrUnmnt 
Inltrnal R«ir«nut Stnric* 



195._ 



Name and address 



(1) CAPITAL ASSETS 



I. KM If K***!} ('I iticdunr. >(l>cli stalimtiit gl 
iosuiglid dalills not stmn btltv) 



2. Dalaiqulrui 1 DstauK 
Mo. Day VearjMo. Cay Vaari 



4. BroH sales jiriu 
(cor.lrstpfite) 



i. DairKlatlaii Hind 
(or aCoti'abl?) lirce ac- 
C'Jisiiicn or Msrcli 1, 
1SI3(3tUichschedula) 



1 Cast n other basis and 
cr>tof SL^uer.tlm- 
prev;?icrt$ 

(II M{ pur:^Jseli, 3Ua:li 



1. Expense of sale 



I I. Sain or loss 
(»lumn 4 plus 
ctumn 5 less sum of 
columns S anil 7) 



SHilRT-TERin CAPITAL GAINS AND LOSSES— A3SrrS HELD N9T MOStE THAjN 6 MOMTHS 



2. Enter your share of net short-term gain or loss from partnerships and common trust funds 

3. Enter unused capital loss carry-over from 5 preceding taxable years (attach statement) 

4. Enter sum of short-term gains or losses or difference between short-term gains and losses shown above. 



LONG-TERM CAPITAL CAIMS AND LOSSES— ASSETS HELD FOR MOnE THAN t MONTIES 



5. 



.._. $.. 



- $- - $- 



$ 



6. Enter the full amount of your share of net long-term gain or loss from partnerships and common trust funds 

7. Enter sum of long-term gains or losses or difference bctweea long-term gains and losses shown above . . 



8. Enter net short-term gain or loss from line 4 

9. Enter net long-term gain or loss from line 7 

Use lines 10 through 13 only if gains exceed losses in lines 8 and 9- 

10. Enter short-term gam (line 8, col. a) reduced by any long-term loss (line 9, col. b) . . . 

U. Enter long-term gain (line 9, col. a) reduced by any short-term loss (line 8, col. b) . . . 

12. Enter 50 percent of line 11 

13- Enter here and on line 1, Schedule D, page 2, Form 1040, the sum of lines 10 and 12 . . . 

Use lines 14 and 15 only if losses exceed gains in lines 8 and 9- 

14. Enter the excess of losses over gains on lines 8 and 9 

15- Enter here and on line 1, Schedule D, page 2, Form 1040, the smallest of the following: 
(a) the amount on line 14; (b) net income computed without regard to capital gains 
and losses; or (c) $1,000 



Gain or loss to be Ul sg iiti 



(a) Gala 


(ti)Lois 


$ 




■i: 




$ 




1= 




$ 


X X X X 

X X X X 
X X X X 
X X X X 


X 


$ 




X 


$ 




X 


$ 




X 


X X X X 


X 
X 




X X x x 


$ 





COMPUTATION OF ALTERNATIVE TAX 

lh< only if you had a net l«n(-term capital i»\n or an excess of net long-terin capital gain over net short-term capital loss, and line 5 or 1(a), pe^e 3, Ftrm 1049, eiceeds SK.SM 



16. Enter from page 3, Form 1040, the income from line 5 if separate return or line 8 (a) if joint return 

17- Enter amount from line 12, col. a, if separate return or half of such amount if joint return 

18. Balance (line 16 less line 17) 



19. Enter tax on amount on line 18 (use appropriate Tax Rate Schedule in Form 1040 Instructions) . 

20. If joint return, multiply amount on line 19 by two 



21. Enter 52 percent of amount on line 17 

22. If joint return, multiply amount on line 21 by two 

23- Alternative tax (line 19 plus line 21 if separate return; line 20 plus line 22 if joint return) 

24. Enter tax from page 3, Form 1040 (either line 7, or line 8 (c), whichever is applicable) 

25- Tax liability (line 23 or 24, whichever is smaller). Enter here .-ind also on line 9, page 3, Form 1040 . 





(2) 


PROPERTY OTHER THAN CAPITAL 


ASSETS 












1. KM il pfopcrty 


2. Date acoulieO 
Mo. Day Veal 


3. Dale sold 
Mo. Day rear 


i Gross sales price 
(tcnlracl pr'ce) 


5. Deprecialian allowed 
(or allowable) since ac 
ouisilron or M:jrcli 1, 
I9l3(allaclischeilule) 


6. CosI 01 oiner bisis init 
coslol subsequent Im- 
proKements 

(II not purchase! ittacb 
oiplanation) 


;. Eipaist 01 SIM 


L Gain or lots 

(column 4 pUii 

caLmn S less sun 4 

columns S anil 7) 


I 






$ 




$ 




$ . 




$ . . 




$ 


















































































2. Enter here the sum of ^ 
enter on line 2, Schcdi 


'ains or lo 
iJe D, rag^ 


5ses or difi 
: 2, Form 


erence b 
1040 . . , . 


:t\vc£ 


:u gains i 


md 1 


osscs sho 


wn a 


30VC. A 


Iso 


$ 





116 



FACSIMILES OF TAX RETURNS FOR 1952 



INSTRUCTIONS — (References are to the internal Revenue Code) 



GAINS AND LOSSES FROM SALES OR EXCHANGES OF 
CAPITAL ASSETS AND OTHER PROPERTY.— Report details 
in schedule on other side. 

"Capital assets" defined. — The term "capital assets" means 
property held by the taxpayer (whether or not connected with his 
trade or business) but does NOT include — 

(a) stock in trade or other property of a kind properly includ- 
ible in his inventory if on hand at the close of the taxable 
year; 
(6) property held by the taxpayer primarily for sale to cus- 
tomers in the ordinary course of his trade or business ; 

(c) property used in the trade or business of a character which 
is subject to the allowance for depreciation provided in sec- 
tion 23 (1); 

(d) real property used in the trade or business of the taxpayer; 

(e) certain government obligations issued at a discount and 
maturing within one year of issue ; 

(/) certain copyrights or artistic compositions, etc. 

If the total of the distribution to which an employee is entitled 
under an employees' pension, bonus, or profit-sharing trust plan 
meeting the requirements of section 165 (a) is received by the 
employee in one taxable year, on account of the employee's sepa- 
ration from the service, the aggregate amount of such distribution, 
to the extent it exceeds the amounts contributed by the employee, 
shall be treated as a long-term capital gain. If distribution is in 
securities of employer corporation, see section 165 (b). 

A capital gain dividend, as defined in section 362 (relating to 
tax on regulated investment companies), shall be treated by the 
shareholder as a long-term capital gain. 

Gain on sale of depreciable property between husband and wife 
or between a shareholder and a "controlled corporation" shall be 
treated as ordinary gain. See section 117 (o). 

Section 117 (j), in effect, provides that gains and losses from 
transactions covered by that section shall be treated as gains and 
losses from the sale or exchange of capital assets held for more than 
six months if the aggregate of such gains exceeds the aggregate of 
such losses. If the aggregate of such gains does not exceed the 
aggregate of such losses, such gains and losses shall not be treated 
as gains and losses from the sale or exchange of capital assets. 
Thus, in the event of a net gain, all these transactions should be 
entered in the "long-term capital gains and losses" portion of 
Schedule D on the other side. In the event of a net loss, all these 
transactions should be entered in the "property other than capital 
assets" portion of Schedule D, or in other applicable schedules on 
Form 1040. 

Section 117 (j) deals with gains and losses arising from — 

(a) sale, exchange, or involuntary conversion, of land (includ- 
ing in certain cases unharvested crops sold with the land) and de- 
preciable property used in the trade or business and held for more 
than 6 months, 

(b) sale, exchange, or involuntary conversion of livestock held 
for draft, breeding, or dairy purposes (but not including poultry) 
and held for i year or more, 

(c) the cutting of timber or the disposal of timber or coal to 
which section 117 (k) applies, and 

{d) the involuntary conversion of capital assets held more than 
6 months. 

See sections 117 (j) and (k) for specific conditions applicable. 

Kind of property listed.- — State following facts: (a) For real 
estate (including owner-occupied residences), location and de- 
scription of land and improvements; (b) for bonds or other evi- 
dences of indebtedness, name of issuing corporation, particular 
issue, denomination, and amount; and (c) for stocks, name of 
corporation, class of stock, number of shares, and capital changes 
affecting basis (including nontaxable distributions). 

Basis. — In determining gain or loss in case of property acquired 
after February 28, 1913, use cost, except as otherwise provided in 
section 113. The basis of the property acquired by gift after 
December 31, 1920, is the cost or other basis to the donor in the 
event of gain, but, in the event of loss, it is the lower of either such 
donor's basis or market value of property on date of gift. The 
basis of property acquired by inheritance is the fair market value 
of the property at time of acquisition which generally is the date 
of death. In the case of sales and exchanges of automobiles and 
other such non-income-producing properties, the basis for deter- 
mining gain is the original cost plus the cost of permanent im- 
provements thereto. No losses are recognized for income tax 
purposes on the sale and exchange of such non-income-producing 



properties. In determining GAIN in case of property acquired 
before March 1, 1913, use the cost or the fair market value as of 
March 1, 1913, adjusted as provided in section 113 (b), whichever 
is greater, but in determining LOSS use cost so adjusted. 

Sale of home, etc. — See page 8 of Form 1040 instructions for 
special rules applicable to sale or exchange of your residence. 

Losses on securities becoming worthless. — If (a) shares of stock 
become worthless during the year or (6) corporate securities with 
interest coupons or in registered form become worthless during 
the year, and are capital assets, the loss therefrom shall be con- 
sidered as from the sale or exchange of capital assets as of the 
last day of such taxable year. 

Nonbusiness debts. — If a debt, such as a personal loan but not 
(a) a debt evidenced by a corporate security with interest coupons 
or in registered form and ( fa ) a debt the loss from the worthlessness 
of which is incurred in the trade or business, becomes totally 
worthless within the taxable year, the loss resulting therefrom 
shall be considered a loss from the sale or exchange, during the 
taxable year, of a capital asset held for not more than 6 months. 
Enter such loss in column 8 (describe in column 1) of schedule 
of short-term capital gains and losses on other side. 

Classification of capital gains and losses. — The phrase "short- 
term" applies to gains and losses from the sale or exchange of 
capital assets held for 6 months or less; the phrase "long-term" 
to capital assets held for more than 6 months. 

Treatment of capital gains and losses. — Short-term capital gains 
and losses will be merged to obtain the net short-term capital gain 
or loss. Long-term capital gains and losses (taken into account 
at 100 percent) will be merged to obtain the net long-term capital 
gain or loss. If the net short-term capital gain exceeds the net 
long-term capital loss, 100 percent of such excess shall be included 
in income. If the net long-term capital gain exceeds the net 
short-term capital loss, 50 percent of such excess shall be included 
in income. 

Limitation on allowable capital losses.- — If the sum of all the 
capital losses exceeds the sum of all the capital gains (all such 
gains and losses to be taken into account at 100 percent), then 
such capital losses shall be allowed as a deduction only to the 
extent of ( 1 ) current year capital gains plus (2) the smaller of 
either the net income of the current year (or adjusted gross income 
if tax table is used) computed without regard to capital gains or 
losses, or $1,000. The excess of such allowable losses over the 
sum of items ( 1 ) and (2) above is called "capital loss carry-over." 
It may be carried forward and treated as a short-term capital loss 
in succeeding years. However, the capital loss carry-over of each 
year should be kept separate, since the law limits the use of such 
carry-over to the five succeeding years. Therefore, in offsetting 
your capital gain and income of 1952 by prior year loss carry- 
overs, use any capital loss carry-over remaining from 1947 before 
using any such carry-over from 1948 or subsequent years. Any 
1947 carry-over which cannot be used in 1952 must be excluded 
in determining total loss carry-over to 1953 and subsequent years. 

Collapsible corporations. — Gain from the sale or exchange of 
stock of a collapsible corporation is not a capital gain. (See 
section 117 (m).) 

"Wash sales" losses. — Losses from the sale or other disposition 
of stocks or securities are not deductible (unless sustained in con- 
nection with the taxpayer's trade or business), if, within 30 days 
before or after the date of sale or other disposition, the taxpayer 
has acquired (by purchase or by an exchange upon which the 
entire amount of gain or loss was recognized by law), or has 
entered into a contract or option to acquire, substantially identical 
stock or securities. 

Losses in transactions between certain persons. — No deduction 
is allowable for losses from sales or exchanges of property directly 
or indirectly between (a) members of a family, (b) a corporation 
and an individual owning more than 50 percent of its stock 
(liquidations excepted), (c) a grantor and fiduciary of any trust, 
or (d) a fiduciary and a beneficiary of the same trust. 

Nondeductible losses. — Losses from the sale or exchange of 
property are not deductible unless they are incurred in trade or 
business or in transactions entered into for profit. 

ALTERNATIVE TAX. — If the net long-term capital gain ex- 
ceeds the net short-term capital loss, or in the case of only a long- 
term capital gain, taxpayers (a) filing separate returns with sur- 
tax net income exceeding $l4,000, (b) filing joint returns with 
surtax net income exceeding $28,000, or (c) filing as a head of 
household with surtax net income exceeding $20,000 should 
compute the alternative tax (see computation of alternative tax 
on other side). The alternative tax, if less than the tax computed 
on page 3 of Form 1040, shall be the tax liability. 



U. S GOVERNMENT PRINTmC OFCICE Onr-liV- ^67 19fi-l 



FACSIMILES OF TAX RETURNS FOR 1952 



117 



FORM 1040 A 

U. S. Treasury Oepartment 
Internal Revenue Service 



1952 



BE SURE TO 

ATTACH ALL YOUR 

ORIGINAL 1952 

WITHHOLDING 

STATEMENTS 

(Forms W-2) 



EMPLOYEE'S OPTIONAL 

U. S. INDIVIDUAL INCOME TAX RETURN calendar year 

IF YOU USE THIS FORM. THE DIRECTOR OF INTERNAL REVENUE WILL COMPUTE YOUR TAX Do no t write in this space 

Serial 
No. 

Name 



(PLEAS£ PRINT. If this is 2 joint return of husband and wife, use fiust names of both) 

HOME ADDRESS 

(PLEASE PRINT. Street and number or rural route) 



(City, town, or post office) (Postal 2one number) 
Social Security No — Occupa 



(State) 



Your 
exemp- 
tions 






1. List your name. If your wife (or husband) 
had no income, or if this is a. joint return, 
list also her (or his) name. 



(Your name) 



Check below II on Dec. 31, 1952, 
you or your wile were — 



65 or over □ Blind Q 



Blind n 



On lines A and B below — 

it neither 65 nor blind write the figure 1 _ 

if either 65 or blind write the figure 2 ^ 

If both 65 and blind write the figure 3 ▼ 



Number of exemptions for you . 



Number of her (or his) exemptions . 



Hamt— and adlrtss II dllleieni Irom yours 



B 65 or over □ 

(Your wife's name — do not list if exemption is claimed on another return) 

C. List names of your children (includ- 
ing stepchildren and legally adopted 
children) with 1952 gross incomes of 
less than $600 who received more 
than one-half of their support from 
you in 1952. See Instruction IC. / Enter number of children listed . 

D. Enter number of exemptions claimed for close relatives listed in Schedule A on other side . 
. E. Enter total number of exemptions claimed in A to D above 





-2. Fill in below the information from each of your 1952 Withholding Statements (Forms 
joint return, enter information from withholding statements of both husband and wife 


w-2). If this is a 


■^ 


Print Employet's Name 


Where Employed (City and State) 


Total Waies 


Incone Tai Withheld 


O 
Si 






$ 




$ 




-§ Your 


























1 '"■ 














^ come 


Enter totals 

3. Enter total of interest, dividends, and any wages not shown on Forms W-2. 
If a joint return enter total of such income of both husband and wife. . 


$ 


$ 














1 

1 
1 


If item 3 is over $100, or you had any ot 

4. Add items 2 and 3. // total is $5,000 oi 

If item 4 includes income of both hu 

husband's income $ ..- 


her income {rent, etc.) use Form 1040. 
' more, use Form 1040 


$ 












sband and wife, show: 

; wife's income $ 











Do you owe any prior year Federal tax for which you have been billed? (Yes or No) Is your wife (or husband) making 

a separate return for 1952? (Yes or No) If ' 'yes," write her (or his) name 

If y ou have filed a return for a prior year, state latest year Where filed? 

I declare under the penalties of perjury that the foregoing statements are true to the best of my knowledge and belief; 
and that all 1952 income is reported hereon. 



(Signature of person, other than taxpayer, preparing this return) 



(Date) 



(Signature of taxpayer) 



(Date) 



(Address) (Signature of taxpayer's wife oi husband if this is a joint return) (Date) 

To assure any benefits of split-income provisions, husband and wife must include all theii income and, even though only one has income, BOTH MUST SIGN, 



THIS SPACE FOR DIRECTOR'S USE ONLY 
TAX DUE OR REFUND WILL BE COMPUTED BY DIRECTOR 



Credits 

Tax 

Balance due or refund 




118 



FACSIMILES OF TAX RETURNS FOR 1952 



SCHEDULE A— EXEMPTIONS FOR CLOSE RELATIVES— (See Instruclien 1 D) 






2. Relationship 


3. Did dependent during 1952 — 


4. If answer to either 3(b) or 3(c) is 
"No," enter amount spent for 
dependent's suppon in 1952 by — 


1. Name of dependent relative. Also give 
address if difiereot from yours 


(a) 
Have gross income 
of $600 or more? 


(b) 

Reside in your 

home? 


Receive entire 
support from 

you? 


You (and your 

wife if this is a 

joint return) 


Others, and by 

dependent from 

own funds 












$- --- 


$. 



























Enter here and as item 1 D on other side the number of close relatives claimed above 



INSTRUCTIONS FOR FILING 

Who Must File. — Every citizen or resident of the United 
States — whether an adult or minor^ — who had gross income of 
$600 or more in 1952 must file a Federal income tax return 
on Form 1040A or Form 1040. 

A single person with less than $600 gross income should file a 
return to get a refund if tax was withheld. A married person 
with income less than her (or his) own personal exemption(s) 
should always file a joint return with husband or wife to get the 
smaller tax or larger refund for the couple. No refund can be 
made unless a return is filed. 

Who May Use Optional Return Form 1040A. — If your total 
gross income was less than $5,000 and 'consisted entirely of 
wages reported on Withholding Statements (Forms W— 2), or of 
such wages and not more than $100 total of other wages, divi- 
dends, and interest, you may use Form 1040 A. A husband and 
wife may file a joint return on Form 1040A if their combined 
incomes do not exceed these limits. If you had any income from 
other sources, such as annuities, rents, royalties, a business or 
profession, farming, sale or exchange of personal or real prop- 
erty, partnerships, estates, and trusts, you may not use Form 
1040A but must file your return on Form 1040. Likewise, 
Form 1040 must be used (1) in making a separate return of a 
married person domiciled in a community property State, (2) 



YOUR INCOME TAX RETURN 

where husband or wife itemizes deductions, or (3) if taxpayer 
claims the status of head of a household. 

If you use Form 1040A, the Director of Internal Revenue 
will compute the tax and send you either a check for any refund 
due you or a bill for any amount you owe. The Director will 
compute your tax from the table provided by law which allows 
$600 for each exemption and about 10 percent of your total in- 
come for charitable contributions, interest, taxes, casualty losses, 
medical expenses, and miscellaneous items. // your deductions 
amount to more than 10 percent of your income, it will generally 
he to your advantage to use Form 1040 arid itemize them. 

Married Couple — Advantage of Joint Return. — A husband 
and wife may make a joint return even though one has no income. 
To assure any benefits of the split-income provisions, they should 
file a joint return. Both husband and wife must sign a joint 
return. A joint return on Form 104oA never results in more tax 
than separate returns because the tax is computed by the Director 
on the combined incomes or on the separate incomes, whichever 
results in the smaller tax or larger refund for the couple. Both 
husband and wife are responsible for any tax which is due on a 
joint return, and any refund check will be addressed to both. 

Where and When To File Your Return. — File your return 
with the Director (formerly Collector) of Internal Revenue for 
your district, between January 1 and March 15, 1953. 



YOUR EXEMPTIONS AND INCOME 



1. Your Exemptions. A and B. For yourself and wife. — 
Fill in items 1 A and B on other side to receive credit for your 
exemption and that of your wife (or husband). Marital status, 
age, and blindness must be determined as of December 31, 1952. 
However, if the husband or wife died during 1952, the exemp- 
tions of the deceased should be determined as of the date of 
death instead of December 31. If totally blind, attach a state- 
ment of such fact to the return. If partially blind, attach a 
statement from a qualified physician or a registered optometrist 
that (1) central visual acuity did not exceed 20/200 in the better 
eye with correcting lenses or (2) that the widest diameter of the 
visual field subtends an angle no greater than 20 degrees. 

C. For children. — Fill in item 1 C on other side to receive 
credit for your dependent children. To qualify, each must meet 
all four of the following tests for 1952: 

1 . Did not have $600 or more gross income, and 

2. Received more than one-half of his or her supf>ort from 
you (or from husband or wife if this is a joint return), and 

3. Is not claimed as an exemption on the return of her hus- 
band (or his wife), and 

4. Was either a citizen of the United States or a resident of 
the United States, Canada, or Mexico. 

D. For close relatives. — Fill in Schedule A, above, to re- 
ceive credit for dependent close relatives. To be listed, each must 
meet all four tests shown in Instruction 1 C. In addition, each 
must be related to you (or to husband or wife if this is a joint 
return) in one of the following ways: 

Mother Grandson Mother-in-law Uncle — 

Father Granddaughter Father-in-law Aunt — 

Grandmother Stepbrother Brother-in-law Nephew — 

Grandfather Stepsister Sister-in-law Niece — 

Brother Stepmother Son-in-hw hut only if 

Sister Stepfather Daughter-in-law related by blood 



U. S. GOVCRNMCHT PRINTING OFFICE 



2 and 3. Your Income. — Enter in item 2 on other side wages 
shown on all your 1952 Forms W— 2 before payroll deductions. 

Enter in item 3 on other side the total of interest, dividends, 
and any wages not shown on Forms W-2. If a joint return is 
filed, enter total of such interest, dividends, and wages of both 
husband and wife. Include in this item all "tips" and so-called 
"gifts" which are really compensation for services. Also in- 
clude the difference between the purchase price and the redemp- 
tion price of any United States Savings Bonds cashed in 1952. 

Nontaxable income. — ^You should exclude from your income 
any items exempt from tax, such as social security benefits, sick- 
ness and injury benefits, life insurance proceeds, dividends on 
veterans' Government insurance, mustering-out pay, and Govern- 
ment contributions to monthly family allowances. 

Combat service.— \1 in 1952 you served as a member of the 
Armed Forces in a coinbat zone or were hospitalized from com- 
bat zone service after June 24, 1950, part of your active service 
pay is not taxable. Your service withholding statement (Form 
W-2) does not include this nontaxable pay but shows only pay 
you need report. Enter this figure in item 2. 

F. /. C. A. Tax Credit.— li more than $54 of F. I. C. A. 
employee tax was withheld during 1952 because you worked 
for more than one employer, the excess may be claimed as a 
credit against income tax. Enter any excess of F. I. C. A. tax 
withheld over $54 in "Income Tax Withheld" column of item 2 
on other side and write "F. I. C. A. tax" in "Where employed" 
column. Compute the credit separately for husband and wife, 
if this is a joint return. 

Your Rights of Appeal. — If you believe there is an error 
in any bill, statement, refund, or audit adjustment in connection 
with your tax, you are entitled to present your reasons to the 
Director and have the matter reconsidered. If agreement on 
audit adjustments is not reached, the Director will advise you of 
further appeal rights. 



FORM 1041 

U.S.Treatury Dapartment 
Intamal Revcnaa Service 



FACSIMILES OF TAX RETURNS FOR 1952 

U. S. FIDUCIARY INCOME TAX RETURN 

(FOR ESTATES AND TRUSTS) 
For Calendar Year 1952 

or taxable year beginning _, 1952, and ending , 195. 



119 



1952 



(PRINT NAMES AND ADDRESS PLAINLT lElOW) 



Name of 

Estate or Trust ._. 

CHECK (V) WHETHER ESTATB D, OR TRUSt'd" 
f 



Name and 
Address of ■ 
Fiduciary 



Item and 
Instnictioa No. 

1. Dividends. 



Do not wrHt hi thest qxctt 



Serial 
No. 



(Cashier's Stamp) 



INCOME 



2. Interest on bank deposits, notes, corporation bonds, etc. (except interest 
to be reported in item 3) 



3. Interest on tax-free covenant bonds upon which a Federal income tax 

was paid at source 

4. Interest on Government obligations, etc., unless wholly exempt from tax. . 

5. Income from partnerships, and other fiduciaries (from Schedule A) 

6. Rents and royalties (from Schedule B) 



7. (<») Net gain (or loss) from sale or exchange of capital assets (from 
Schedule C) 



(i) Net gain (or loss) from sale or exchange of property other than cap- 
ital assets (from Schedule D) 

8. Profit (or loss) from trade or business. (Attach statement) 

9- Other income. (State nature of income) 

10. Total income in items 1 to 9 

DEDUCTIONS 

11. Interest. (Explain in Schedule F) 

12. Taxes. (Explain in Schedule F) 

13. Other deductions authorized by law. (Explain in Schedule F) 

14. Total deductions in items 11 to 13 



15. Balance (item 10 less item 14). 



16. Less: Amount distributable to beneficiaries (total of columns 3 and 4, Schedule G) I 

17- Net income taxable to fiduciary ( item 15 less item 16) 1$ 

COMPUTATION OF TAX 



18. Net income (item 17, above) 

19. Less: Exemption ($600 for an estate; $100 for a trust). 



20. Balance (item 18 less item 19) 

21. Tax on amount in item 20. See Tax Rate Schedule in Instruction 21. (If item 18 includes 

partially tax-exempt interest, see Instruction 21) 



22. If alternative tax computation is made, enter tix from line 23, Schedule C 

23. Less: Fiduciary's share of income tax paid to a foreign country or U. S. 

possession. (Attach Form 1116) 

24. Fiduciary's share of income tax paid at source on tax-free covenant 

bond interest 

25. Total of items 23 and 24 



26. Balance of tax (subtract item 25 from item 21 or item 22, whichever is applicable). 



120 



FACSIMILES OF TAX RETURNS FOR 1952 



SclMdule A.-INCOINE FROM PARTNERSHIPS, AND OTHER FIDUCIARIES. 


(Sm Instruotlan () 


PanZ 


Name and address of partnership, joint venture, etc „ _ 


$ 










Name and address of fiduciary - 












Total Enter here and as item 5. Dace 1 


$ 











Sclwdulc B.— INCOME FROM RENTS AND ROYALTIES. <Sm Instruction 6) 



1. Kill •! ftfrtl 



2. Amsunt e( rtnt u rtrilty 



3. DeiireclatJoii or dtnletico 
(eiplsin In Schadule E) 



4. Ruairs (eiplain in 
Schedule F) 



S. Otliereifuse>(ll 
in Schedule F) 



$... 



1. Totals !$- 



$- 



$- 



2. Net profit (or loss) (column 2 less sum of columns 3. 4, and 5). Enter here and as item 6, page 1.'$ 



Schedule C— GAINS AND LOSSES FROM SALES OR EXCHANGES OF CAPITAL ASSETS. (See Instruction 7) 



I.Kind el prepeft) (llneceuaiy, attach itatement el 
dearifljf e delillt net shown below) 



2. Data acquired 
Me. Day Year 



Mo. Day Tear 



4. Gross sales price 
(contract price) 



i Depreciation allowed 
(or aJowahle) since 
aaiultitlen v Marcli 
I. 1913 (o>pl9in in 
Schedule E) 



G. Cost or othex basis 
and cost of subse- 
Quent improiemenls. 
(If not purchssed, 
attach eiplanation) 



I. Eipense II tale 



S. Gain Of loss (colunu 4 plus 
column S less the sum el 
columns i and 7) 



SHORT-TERM CAPITAL GAINS AND LOSSES— ASSETS HELD NOT MORE THAN 6 MONTHS 



1. 



I 



2. Share of net short-term gain or loss from partnerships and common trust funds 

3. Unused capital loss carry-over from 5 preceding years (attach statement) 

4. Sum of short-term gains or losses or difference between short-term gains and losses shown above. . 



LONG-TERM CAPITAL GAINS AND LOSSES— ASSETS HELD FOR MORE THAN « MONTHS 



5. 




$ 




$ 




$ _ 


..^. $ _.. 


....!$... 






1 










































































1 




















6. Full amount of share of r 

7. Sura of long-term gains or 


ft lr)nP"-rf^rm train or InQS from narrnrr^ihins antl rnmmon rriisf fund"? 






losses or 


— & — - 
difference 


between 


Ion 


r 

g-tcrm gai 


c 

ns : 


md losses 


>ll0' 


vn above. 




$ 





Gain or lots to be taken into account 



(a) Gain 



$- 



8. Net short-term gain or loss from line 4 

9. Net long-term gain or loss from line 7 

Use lines 10 through 13 only if gains exceed losses in lines 8 and 9. 

10. Short-term gain (line 8, col. «) reduced by any long-term loss (line 9, col. b') 

11. Long-term gain (line 9, col. a) reduced by any short-term loss (line 8, col. A).j$. 

12. 50 percent of line 11 !$■ 



(b) Loss 



13. Enter here and as item 7 (<»), page 1, the sum of lines 10 and 12 
Use lines 14 and 15 only if losses exceed gains in lines 8 and 9- 

14. Excess of losses over gains on lines 8 and 9 

15. Enter here and asitem7(«), page 1, the smallest of the following: (a) the amount 

on line 14; (i) net income computed without regard to capital gains and 



X X X X X X 

X X X X X X 

X X X X X X 

X X X X X X 



X X X X X X 



X X $ 



losses; or TQ $1.000 ' x x x x x x I x x $ 



X X 

X X 

X X 

X X 



COMPUTATION OF ALTERNATIVE TAX 

Use only il you had a net long-term capital gain or an excess ot net long-term capital gain over net short-term capital loss, and item 20, page 1, exceeds 514,000 



$- 



16. Income from item 20, page 1 

17. Amount from line 12, col. a, above 

18. Balance (line 16 less line 17; 

19. Tax on amount on line 18. (See Tax Rate Schedule in Instruction 21) 

20. 52 percent of amount on line 17, above 

21. Alternative tax (line 19 plus line 20) 

22. Tax from item 21 , page 1 |S 

23. Tax liability Tline 21 or line 22, whichever is smaller). Enter here and also as item 22, page 1. . .i$ 



FACSIMILES OF TAX RETURNS FOR 1952 



121 



PigiS 

tchadul* D.-GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY OTHER THAN CAPITAL ASSETS. (Sm Inttructlan 7) 



1. Kli<lt|rM«tr 



1, Dati ac<iiir(d 
Mo. Day Yea 



3. Dati tM 
Wo. Day Year 



4. Sroit ulo piJce 
(coiilract price) 



i Depreciation allowed 
(or aUowabJe) since 
acQuIsitien or March 
1, 1913 (eiptaiir In 
Schedule E) 



$._... 



E. Cost or othef liasit 
and cost of tulito- 
quent Improvements 
(It not purchased, at- 
tach explanation) 



7. Eipene ol lalo 



L Bilri or lets (col- 
umn 4 pint ntamn S 
less ttu sum of col- 
umns t and 7) 



2. Sum of gains or losses or difference between gains and losses shown above. Enter as item 7 (}'), page 1 . . $ 

SchcduU E.— EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED IN SCHEDULES B, C, AND D. (Se« General Instruction M) 



t. Kind of proporly. (II buildinii. state material ol which 
canstructod.) Euludo land or other nondspiecialila property. 


2. Date ac|ulred 


]. Cost or other basis 


4. Depreciation allowed 

(or allowable) in prior 

years 


5. Ramalnint ceit «r 

•th«r basis to be 

rec«ef»il 


6. Life used in 
accumulating 
depieclatiOR 


7. Estimated 

lile from 

besinnini 

tlyear 


1. Depreciation allow- 
able this year 






$ _ 




$...._ 




$ 






1 
- -i$ 








































































































































































































































































































1 

1 
























' j 





SchaduU F.-EXPLANATION OF DEDUCTIONS CLAIMED IN COLUMNS 4 AND S, SCHEDULE B, AND ITEMS 11, 12. AND 13, Page 1 

(See Instructions U, 12, and 13) 



1, Coimn or 
Hob Ho. 


2. Eiplanation 


3. Amount 


1. Column or Item 
No. (continued) 


2. Eiplanation (continued) 


3. Amount (continued) 






$ 






1 

- -- !$ 




















































































































































































































































































NOTE. — In the case of estates, certain administrative expenses of the type allowable under section 812(b) as deductions in computing 
the net estate of a decedent (such as executors' commissions, attorneys' fees, etc.) may be deducted on this return only if 
Statement and waiver prescribed in Instruction 13 are attached hereto. lo— c7.mi7 i 



12-2 



FACSIMILES OF TAX RETURNS FOR 1952 



I>l|i4 



SchwIuU C.-BENEF1CIARIES' SHARES OF INCOME AND CREDITS, (includ* « lMn«nclarln panam to ohom amatitrti vara MM or aal aalda far 

rallglous, charitable, ate, purposes.) (See Instructions 4 and 1€> 


I. Nima Kt address ol exli beneflclir? 

(Dnipiite chzriblile orprJiaOon, n 

Miuesiduliliiiu.llUT) 


2. If return it tir a trust state 

relationship ol [rantir t« oacb 

indifidual bonellclaa 


3. Taiable Income less my 
•arilallytaieiempl interest 
Included Is Item 4, Miet 


4. Paitlallytiieiemptlnlefeil 
included la Hem 4, mil 


5. Fodirilincene III paid il 

aeono(2%elltem3,p>|el, 

Ins Ilea H pete 1) 


L Incnm esd profits t»oi 

paidteelerelticeinliTSf 
United StitnpMsaniM 


C/») 




$ 




$ 




$ 




$ 




























a) 




























(c) 




























(d) 




























(e) 




























Cf) 




























Ct) 
























(l>) 




























CO 




























Totals 


X X X X X X X X 


$ 




$ 




$ 




$ 





QUESTIONS 



1. Was an income tax return filed for the preceding year? 

If so, to which director's (formerly collector's) 

office was it sent? 

2. Date estate or trust was created 

3. If copy of will or trust instrument and statement required 

under General Instruction I have been previously 
furnished, state when and where filed 



4. Check whether this return was prepared on the cash Q 

or accrual Q basis. 

5. Did the estate or trust at any time during the taxable year 

own directly or indirectly any stock of a foreign corpora- 



tion or of a personal holding company as defined in 
section 501 of the Internal Revenue Code? (Answer 

"Yes" or "No") If answer is "Yes," attach 

list showing name and address of each such corporation 
and amount of stockholdings. 
If return is for a trust, state name and address of grantor 



7. If return is for an estate, has a United States Estate Tax 

Return been filed? (Answer "Yes" or "No") 

If answer is "No," will such a return be filed? "Yes" □ 
"No" □ "Uncertain" □ (Check which.) 



DECLARATION (See Instruction F) 

I declare under the penalties of perjury that this return (including any accompanying schedules and statements) has been 
examined by me, and to the best of my knowledge and belief, is a true, correct, and complete return. 



(Sigoature of person (ntiicr tiun taxpayer or agent) 
preparing return) 



(Date) 



(Signature of liiluciary or officer representing fiduciarr) 



(Date) 



(Name of firm or employer, if any) 



(AdJres9 of fiduciary or ofliccr) 



■j*? u. f. »ovieM«iMT PiiNTiM* orfice 1ft— fl7307-l 



FAC"SIMILES OF TAX RETURNS FOR 1952 



12.3 



HOW TO PREPARE YOUR 



(References are to die Internal Reve- 
nue Code, unless otherwise noted) 



PAGE 1 



1952 

U. S. Fiduciary Income 

Tax l^eturn on form khi 

It will be helpful to read General Instructions A to N before commencing to fill in 
returns, and to read Specific Instructions in connection with filling in the items to 
which they refer. 

GENERAL INSTRUCTIONS 



A. Wbo must use Form 1041. — Every fiduciary, or at least one 
of joint ^duciaries (except a receiver appointed by authority of 
law in possession of only a part of the property of an individual), 
must make an income tax return on Form 104.1 for: 

(i) Every estate for which he acts, if (a) the gross income 
of such estate for the taxable year is $600 or over, or (6) any 
beneficiary is a nonresident alien. 

(2) Every trust for which he acts, if (a) the net income for 
such trust for the taxable year is $100 or over, or [b) the gross 
income is $600 or over regardless of the amount of net income, 
or (c) any bfneficiary is a nonresident alien. 
(See also General Instruction N.) 

B. Fiduciary returns on Form 1040 or Form 1040A. — (i) An 
executor or administrator must make a return, on Form 1040 or 
Form 1040A, if the gross income of a decedent to the date of his 
death was $600 or more. 

(2) A fiduciar>', including the guardian of a minor and the 
guardian or committee of an insane person, who has charge of the 
mcome of an individual, must make a return of income on Form 
1040 or Form 1040A if a return is required for such individual. 

C. Returns for nonresident alien beneficiaries. — ( i ) United 
States business. — If a citizen or resident fiduciary has the distri- 
bution of the income of an estate or trust, any beneficiary of which 
is a nonresident alien engaged in trade or business within the 
United States at any time within the taxable year, the fiduciary 
shall make a return on Form 1040B for such nonresident alien 
and pay any tax shown thereon to be due. 

(2) No United Stales business. — A citizen or resident fiduciary 
having the distribution of the income of an estate or trust is re- 
quired to make a return on Form 1040NB (and to pay any tax 
shown to be due thereon) for any beneficiary who is a nonresident 
alien not engaged in trade or business within the United States 
at any time within the taxable year if (a) such beneficiary has 
for the taxable year not more than $15,400 gross income the tax 
on which is not limited by tax convention, and/or gross income 
(regardless of amount) the tax on which is limited by tax con- 
vention, and if (i) tlie entire amount of the tax on the income 
payable to such beneficiary has not been withheld at the source. 
Such fiduciary' is also required to make a return on Form i04oNB-a 
for any such beneficiary who has for the taxable year more than 
$13,400 gross income the tax on which is not limited by tax 
convention, and to pay any tax shown thereon to be due. 

(3) Duty of filing returns. — If the beneficiary appoints a person 
in the United States to act as his agent for the purpose of render- 
ing income tax returns, the fiduciary shall be relieved from the 
necessity of filing Form 1040B, Form 1040NB, or Form i04oNB-a, 
as the ca;:e may be. In such a case the fiduciary shall make a 
return on Form 1041 and attach thereto a copy of the notice of 
appointment of such agent. The fiduciary shall make a return 
on Form 1042 of the tax at the rates in effect when the payment 
is made on the entire amount of income payable to the beneficiary. 

D. Period to be covered by return. — Returns shall be filed for 
the calendar year 1952 or other taxable years beginning in 1952. 
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 1 1 28 and forwarded to the Com- 
missioner of Internal Revenue, Washington 25, D. C, at least 60 
days prior to the close of the fractional part of the year for which 
a return would be required to effect the change. 

E. When and where the return must be filed. — Returns must be 
filed on or before the 1 5th day of the fourth month following the 
close of the taxable year of the estate or trust with the director 
of internal revenue for the district in which the fiduciary resides 
or has his principal place of business. In case the fiduciary has 
no legal residence or place of business in the United States, the 
return should be forwarded to the Director of Internal Revenue, 
Baltimore a, Md. 

371897 O - 56 - 9 



F. Declarations. — The return must be signed by the individual 
fiduciary, or by the authorized ofiicer of the organization receiv- 
ing or having custody or control and management of the income 
of the estate or trust. If two or more individuals act jointly at 
fiduciaries, the return may be signed by any one of them. 

Where the return is actually prepared by some person or per- 
»ns other than the fiduciary, such person or persons must also 
sign the declaration at the bottom of the fourth page of the return. 

G. When and to whom the tax must be paid. — The tax of a 
trust must be paid in full when the return is filed. The tax of an 
estate 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 fourth, 
seventh, tenth, and thirteenth mouth following the close of the 
taxable year. 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 director. 

The tax may be paid in cash or by check or money order drawn 
to the order of "Director of Internal Revenue." 

H. Penalties. — Severe penalties are provided by law for failure 
to file a required return, for filing late, and for filing a false or 
fraudulent return. 

I. Copy of will or trust instrument. — A copy of the will or trust 
instnmaent sworn to by the fiduciary as a true and complete copy 
in cases in which the gross income of the estate or trust is $5,000 
or over, must be filed with the fiduciary return of the estate or 
trust, together with a statement by the fiduciary indicating the 
provisions of the will or trust instrument which, in his opinion, 
determine the extent to which the income of the estate or trust 
is taxable to the estate or trust, the beneficiaries, or the grantor, 
respectively. If, however, a copy of the will or trust instrument, 
or statement relating to the provisions of the will or trust instru- 
ment, has once been filed, it need not again be filed if the fiduciary 
return contains a statement showing when and where it was filed. 
If the trust instrument is amended in any way after such copy has 
been filed, a copy of the amendment, together with a statement 
by the fiduciary, indicating the effect, if any, in his opinion, of 
such amendment on the extent to which the income of the trust 
is taxable to the trust, the beneficiaries, or the grantor, respec- 
tively, must be filed with tlie return for the taxable year in which 
the amendment was made. 

J. Basis of return. — If the books of account of the estate or 
trust are kept on the accrual basis, rejKirt all income accrued, and 
expenses incurred. As to disallowance of deductions for unpaid 
expenses and interest due to certain persons, see section 24 (c). 
If the books are not kept on the accrual basis, or if no books are 
kept, make the return on the cash basis and report all income 
received or constructively received, such as bank interest credited 
to the account of the estate or trust and coupon bond interest 
matured, and report expenses actually paid. 

K. In<5ome in respert of decedents. — Amounts of gross income 
of a decedent, not includible in his gross income, shall be included 
when received in the gross income of his estate, legatee, or other 
person entitled to receive such amounts upon his death. Deduc- 
tions specified in section 23 (a), (b), or (c) (relating to deduc- 
tions for expenses, interest, and taxes) in respect of the decedent 
may be taken by the person receiving property of the decedent 
subject to the obligation for which the deduction is allowed. 
S imil ar treatment is given to the foreign tax credit provided by 
section 31. The deduction for percentage depletion specified 
in section 23 (m), not allowable to the decedent for any taxable 
period, may be taken by the person receiving the income in respect 
of the decedent to which such deduction relates. (See sections 
23 (w) and 126.) 

L. Items exempt from tax. — As to items of income exempt from 
tax other than those listed below, see sections 22 (b) and 116. 
( I ) Interest on governmental obligations : 

(a) Entirely exempt. — The interest on (1) obligations of a 
State, Territory, or political subdivinon thereof, or the District 



124 



FACSIMILES OF TAX RETURNS FOR 1952 



of Columbia, or United States possessions; (2) obligations issued 
prior to March I, 1941, under Federal Farm Loan Act, or under 
such act as amended; (3) obligations of the United States issued 
on or before September i, 1917; and (4) Treasury notes issued 
prior to December i , 1 940, Treasury bills and Treasury certificates 
of indebtedness issued prior to March i, 1941, postal savings 
accounts to the extent that they represent deposits made prior to 
March i, 1941, adjusted service bonds, and certain other obliga- 
tions of liie United States. , 

(6) Partially exempt. — The interest on (i) United States 
savings bonds and Treasury bonds issued prior to March i, 1941, 
owned in excess of $5,000 and (2) obligations of certain instru- 
mentalities of the United States issued prior to March i, 1941, 
is subject only to surtax. 

(2) Federal savings and loan associations. — Dividends on share 
accounts in Federal savings and loan associations in case of shares 
issued prior to March 28, 1942, are subject only to surtax. 

(3) Proceeds of insurance policies. — The proceeds of life insur- 
ance policies, paid by reason of the death of the insured, are 
exempt. If any part of the proceeds is held by the insurer under 
an agreement to pay interest, the interest is taxable. Amounts 
(other than annuities) received under a life insurance or endow- 
ment policy, not payable by reason of the death of the insured, 
are not taxable until the aggregate of the amounts received exceeds 
the premiums or consideration paid for the policy. 

(4) Miscellaneous items wholly exempt from tax: 

(a) Gifts (not received as a consideration for service ren- 
dered) and money and property acquired by bequest, devise, or 
inheritance (but the income derived therefrom is taxable) ; 

(fc) Except in the case of amounts attributable to (and not in 
excess of) deductions allowed under section 23 (x) in any prior 
taxable year, amounts received through accident or health insur- 
ance or under workmen's compensation acts, as compensation for 
personal injuries or sickness plus the amount of any damages 
received, whether by suit or agreement, on account of such 
injuries or sickness, and amounts received as a pension, annuity, 
or similar allowance for personal injury or sickness resulting from 
active service in the armed forces of any country; 



PAGE 2 

(c) Income, other than rent, derived by a lessor of real prop- 
erty upon the termination of a lease, representing the value of 
such property attributable to buildings erected or other improve- 
ments made by the lessee; and 

{d) Income attributable to the recovery during the taxable 
year of a bad debt, prior tax, or delinquency amount, to the extent 
that such debt, tax, or delinquency amount did not operate to 
reduce the income tax liability of the taxpayer for any prior year 
with respect to such debt, tax, or amounts. 

M. Depreciation and depletion, and amorti2ation of emergency 
facilities. — A reasonable allowance for exhaustion, wear and tear 
(including a reasonable allowance for obsolescence) ( i ) of prop- 
erty used in trade or business or ( 2 ) property held for the produc- 
tion of income, may be deducted, based on cost if acquired by 
purchase after February 28, tgiS- If acquired before March i, 
1913, or otherwise than by purchase, see section 114. 

For depletion deduction, see sections 23 (m) and 114. 

Estates and trusts (provided an election is made as prescribed 
in section 124A (b) ) are entitled to a deduction with respect to 
the amortization of the adjusted basis (for determining gain) of 
any emergency facility the construction, reconstruction, erection, 
or installation of which was completed after December 31, 1949, 
or the acquisition of which occurred after December 31, 1949, 
and with respect to which the Government has issued a certificate 
of necessity. A statement of the pertinent facts should be filed 
with the taxpayer's election to take amortization deductions with 
respect to such facility (see section 124A and the regulations 
issued thereunder). 

N. Information at source. — Every estate or trust which made 
payments of salaries, wages, commissions, interest, rents, or other 
fixed or determinable income of $600 or more during the calendar 
year 1952, to an individual, a partnership, or a fidupiary must 
make a return on Forms 1096 and 1099. If a portion of such 
salary or wage payments was reported on a Withholding State- 
ment (Form W-2a), only the remainder must be reported on 
Form 1099. Distributions to beneficiaries of an estate or trust 
shall be reported on Form 1041 and not on Form 1099. 



SPECIFIC INSTRUCTIONS 
The following instructions are numbered to correspond with item numbers on the first page of the return 



1. Dividends. — Enter the total of all taxable dividends received 
from domestic and foreign corporations, except dividends on 
share accounts in Federal savings and loan associations in case of 
shares issued prior to March 28, 1942, which should be included 
in item 4. 

3. Interest on tax-free covenant bonds. — Enter interest on bonds 
upon which a Federal income tax was paid at the source by the 
debtor corporation, if an ownership certificate on Form 1000 was 
filed with the interest coupons. The tax of 2 percent paid at the 
source on such interest should be allocated to the beneficiaries in 
column 5, Schedule G. 

4. Interest on Government obligations, etc. — Interest on an 
aggregate of not exceeding $5,000 principal amount of United 
States Savings bonds and Treasury bonds issued prior to March i, 
1 94 1, is exempt from surtax. However, when the income of a 
trust b taxable to beneficiaries, as in the case of a trust the income 
of which is to be distributed to beneficiaries currently, each bene- 
ficiary is entitled to exemption as if he owned directly a propor- 
tionate part of the bonds held in trust. When, on the other hand, 
income is taxable to the trustee, as in the case of a trust the 
income of which is accumulated for the benefit of unborn or 
unascertained persons, the trust, as owTier of the bonds held in 
trust, is entitled to' the exemption on account of such ownership. 

Section 23 (v) provides for the deduction of amortizable bond 
premium by the owner of the bond. The term "bond" means 
any bond, debenture, note, or certificate or other evidence of 
indebtedness, issued by any corporation and bearing interest 
(including any like obligation issued by a government or political 
subdivision thereof) , with interest coupons or in registered form, 
but does not include any such obligation which constitutes stock 
in trade of the taxpayer or any such obligation 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 any such obligation 
held by the taxpayer primarily for sale to customers in the ordi- 
nary course of his trade or business. 

Amortization of bond premium is mandatory vAth respect to 
fully tax-exempt bonds. In the case of fully taxable bonds and 
•partially tax-exempt bonds (the interest on which is subject only 
to surtax), the amortization of bond premium is elective as to 
either one or as to both. Such election shall be made by the 
taxpayer by taking a deduction for the bond premium on his 
return for the first taxable year to which he desires the election 
to be applicable. Attach a statement showing the computation 
of the deduction. 

The election shall apply to all bonds with respect to which 
it was made and which were owned by the taxpayer at the begin- 



ning of the first taxable year to which the election applies and 
also to all bonds of such class (or classes) thereafter acquired. 
The election shall be binding for all subsequent taxable years, 
unless, upon application by the taxpayer, the Commissioner per- 
mits the taxpayer to revoke the election. 

In the case of a fully tax-exempt bond, the amortizable pre- 
mium for the taxable year is an adjustment to the basis, or ad- 
justed basis, of the bond but no deduction is allowable on account 
of such amortizable premium. In the case of a fully taxable 
bond, the amortizable premium is both an adjustment to the basis, 
or adjusted basis, of the bond and also a deduction. In the case 
of a partially tax-exempt bond, the amortizable premium for the 
taxable year is used for three purposes: ( i ) As an adjustment to 
the basis, or adjusted basis; (2) as a deduction; and (3) as a 
reduction of the credit for the interest on the bonds. 

A taxpayer on the cash basis may elect, as to all non-interest- 
bearing obligations issued at a discount and redeemable for fixed 
amounts increasing at stated intervals (for example, United States 
Savings Bonds), to include the increase in redemption price appli- 
cable to the current year. For the year of election the total 
increase in redemption price of such obligations occurring between 
the date of acquisition and the end of the year must be included. 
A taxpayer so electing shall report such income as interest in item 
2, 3, or 4, page i, whichever is applicable, and attach statement 
listing obligations ovmed and computation of accrued income. 
An election exercised in the current year or in a prior year is 
binding for all subsequent years. 

The fiduciary shall advise each beneficiary as to the amount of 
his share of these obligations and of the interest fas well as amor- 
tizable bond premium), in order that the beneficiary may include 
this information in his individual income tax return and determine 
whether such interest is subject to tax. 

5. Income from partnerships and other fiduciaries. — Enter the 
estate's or trust's 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 the estate's or trust's distribu- 
tive share of the partnership capital gains or losses which should 
be reported in Schedule C and included in item 7(a), page i, and 
the estate's or trust's share of the income from another estate or 
trust. The estate's or trust's share of interest in obligations of the 
United States, owned by partnerships or another estate or trust, 
should be included in item 4. Include in items 23 and 24, respec- 
tively, the estate's or trust's share of credits claimed for foreign 
income and profits taxes and Federal income taxes paid at source. 

16—67288-1 



FACSIMILES OF TAX RETURNS FOR 1952 



125 



If the taxable year on the basis of which the estate's or trust's 
return is filed does not coincide with the annual accounting period 
of the partnership or other fiduciary, include in the return the 
distributive share of the estate or trust of the net profits for such 
accounting period of the partnership or other fiduciary ending 
within your taxable year. 

6. Rents and royalties. — Fill in Schedule B giving the informa- 
tion requested. 

If the estate or trust 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 crop-share basis should be 
reported as income for the year in which disposed of (unless the 
return is on the accrual basis). 

7. Gains and losses from s^es or exchanges of capital assets 
and other property. — Report sales or exchanges of capital assets in 
Schedule C and sales or exchanges of other property in Schedule D, 
and enter the net amount of gain or loss to be taken into account 
in computing net income. 

"Capital assets" defined. — The term "capital assets" means 
property held by the estate or trust (whether or not connected 
with the trade or business) but does NOT include — 

(a) stock in trade or other property of a kind properly includi- 
ble in the inventory if on hand at the close of the taxable 
year; 

(6) property held by the taxpayer primarily for sale to cus- 
tomers in the ordinary course X)f the trade or business; 

(c) property used in the trade or business of a -character which 
is subject to the allowance for depreciation provided in 
section 23 (1) ; 

{d) real property used in the trade or business of the taxpayer; 

(e) certam Government obligations issued at a discount and 
maturing within one year of issue ; 

(/) certain copyrights or artistic compositions, etc. 

If the total of the distribution to which an employee is entitled 
under an employees' pension, bonus, or profit-sharing trust plan 
meeting the requirements of section 165 (a) is received by the 
employee in one taxable year, on acdount of the employee's sepa- 
ration from the service, the aggregate amount of such distribu- 
tion, to the extent it exceeds the amounts contributed by the 
employee, shall be treated as a gain from the sale or exchange of 
a capital asset held for more than 6 months. 

A capital gain dividend, as defined in section 362 (relating to 
tax on regulated investment companies), shall be treated by the 
shareholder as gains from the sale or exchange of capital assets 
held for more than 6 months. 

Section 117 ( j ) , in effect, provides that gains and losses from 
transactions covered by that section shall be treated as gains and 
losses from the sale or exchange of capital assets held for more 
than 6 months if the aggregate of such gains exceeds the aggregate 
of such losses. If the aggregate of such gains does not exceed 
the aggregate of such losses, suclj gains and losses shall not be 
treated as gains and losses from the sale or exchange of capital 
assets. Thus, in the event of a net gain, all these transactions 
should be entered in the "long-term capital gains and losses" por- 
tion of Schedule C. In the event of a net loss, all these trans- 
actions should be entered in Schedule D, or in other applicable 
schedules on Form 1041. 

Section 117 (j) deals with gains and losses arising from — 

(a) sale, exchange, or involuntary conversion, of land (includ- 
ing in certain cases unharvested crops sold with the land) and 
depreciable property used in the trade or business and held for 
more than 6 months, 

(6) sale, exchange, or involuntary conversion of livestock held 
for draft, breeding, or dairy purposes (but not including poultry) 
and held for i year or more, 

(c) the cutting of timber or the disposal of timfcer or coal to 
which section 117 (k) applies, and 

(d) the involuntary conversion of capital assets held more than 
6 months. 

See section 117 (j) and (k) for specific conditions to be met in 
their application. 

Kind of property listed. — State following facts: (a) For real 
estate, location and description of land and improvements; (b) for 
bonds or other evidences of indebtedness, name of issuing corpora- 
tion, particular issue, denomination, and amount; and (c) for 
stocks, name of corporation, class of stock, number of shares, and 
capital changes affectingbasis (including nontaxable distributions). 

Basis. — In determining gain or loss in case of property acquired 
after February 28, 1913, use cost, except as otherwise provided 
in section 113. The basis of the property acquired by gift after 
December 31, 1920, is the cost or other basis to the donor in the 
event of gain, but, in the event of loss, it is the lower of either 
such donor's basis or market value of property on date of gift. 
The basis of property acquired by inheritance is the fair market 
value of the property at time of acquisition which generally is the 



PAGE 3 

date of death. In determining GAIN in case of property acquired 
before March i, 1913, use the cost or the fair market value as 
of March i, 1913, adjusted as provided in section 113 (b), 
whichever is greater, but in determining LOSS use cost so 
adjusted. 

Losses on securities becoming worthless. — If (a) shares of 
stock become worthless during the year or (6) corporate securi- 
ties with interest coupons or in registered form become worthless 
during the year, and are capital assets, the loss therefrom shall 
be considered as from the sale or exchange of capital assets as 
of the last day of such taxable year. 

Nonbusiness debts. — If a debt, such as a personal loan but 
not (a) a debt evidenced by a corporate security with interest 
coupons or in registered form and (6) a debt the loss from the 
worthlessness of which is incurred in the trade or business, be- 
comes totally worthless within the taxable year, the loss result- 
ing therefrom shall be considered a loss from the sale or exchange, 
during the taxable year, of a capital asset held for not more than 
6 months. Enter such loss in column 8 (describe in column i ) 
under short-term capital gains and losses on Schedule C. 

Classification of capital gains and losses. — The phrase "short- 
term" applies to gains and losses from the sale or exchange of 
capital assets held for 6 months or less; the phrase "long-term" 
applies to capital assets held for more than 6 months. 

Collapsible corporations. — Gain from the sale or exchange of 
stock of a collapsible corporation is not a capital gain. (See 
section 117 (m).) 

Redemption of stock to pay death taxes. — Section 115 (g) (3) 
deals with redemption of stock iilcluded in an estate. List and 
identify such stock in the appropriate section on Schedule C, and 
state the name of the decedent and the director's oflSce in which 
the estate tax return was filed. 

"Wash sales" losses. — Losses from the sale or other disposition 
of stocks or securities are not deductible (unless sustained in 
connection with the taxpayer's trade or business), if, within 30 
days before or after the date of sale or other disposition, the 
tajq)ayer has acquired (by purchase or by an exchange upon 
which the entire amount of gain or loss was recognized by law), 
or has entered into a contract or option to acquire, substantially 
identical stock or securities. 

Losses in transactions between certain persons. — No deduction 
is allowable for losses from sales or exchanges of property directly 
or indirectly between (a) members of a family, (6) a corporation 
and arf individual owning more than 50 percent of its stock 
(liquidations excepted), (c) a grantor and fiduciary of any trust, 
or (d) a fiduciary and a beneficiary of the same trust. 

Nondeductible losses. — Losses from the sale or exchange of 
property are not deductible unless they are incurred in trade or 
business or in transactions entered into for profit. 

Treatment of capital gains and losses. — Short-term capital gains 
and losses will be merged to obtain the net short-term capital gain 
or loss. Long-term capital gains and losses (taken into account 
at 100 percent) will be merged to obtain the net long-term capital 
gain or loss. If the net short-term capital gain exceeds the net 
long-term capital loss, 100 percent of such excess shall be included 
in mcome. If the net long-term capital gain exceeds the net 
short-term capital loss, 50 percent of such excess shall be included 
in income. 

Limitation on allowable capital losses. — If the sum of all the 
capital losses exceeds the sum of all the capital gains (all such 
gains and losses to be taken into account at 100 percent), then 
such capital losses shall be allowed as a deduction only to the 
extent of (l) current year capital gains plus (2) the smaller of 
either the net income of the current year computed without regard 
to capital gains or losses, or $ i ,000. The excess of such allowable 
losses over the sum of items ( i ) and ( 2 ) above is called "capital 
loss carry-over." It may be carried forward and treated as a 
short-term capital loss in succeeding years. However, the capital 
loss carry-over of each year should be kept separate, since the law 
limits the use of such carry-over to the five succeeding years. 
Therefore, in offsetting capital gain and income of 1952 by prior 
year loss carry-overs, use any capital loss carry-over remaining 
from 1947 before using any such carry-over from 1948 or sub- 
sequent years. Any 1947 carry-over which cannot be used in 
1952 must be excluded in determining the total loss carry-over 
to '953 ^ntl subsequent years. 

ALTERNATIVE TAX.— If the net long-term capital gain 
exceeds the net short-term capital loss, or in the case of only a 
long-term capital gain, taxpayers with surtax net income exceed- 
ing $14,000 should compute the alternative tax in Schedule C. 
The alternative tax, if less than the normal tax and surtax, shall 
be the tax liability. 

8. Profit (or loss) from trade or business. — If the estate or 
trust was engaged in a trade or business during the taxable year, 
enter the net profit (or loss) and attach to the return a sutement 
showing the nature of the trade or business, total receipts, cost 

l»-«738()-J 



126 



FACSIMILES OF TAX RETURNS FOR 1952 



of merchandise bought for sale, inveatories of merchandise on 
hand at the beginning and end of the taxable year, ocher items 
entering into cost of goods sold, net cost of goods sold, salaries 
and wages of employees, interest, taxes, losses, and bad debts 
directly attributable to the trade or business, depreciation, ob- 
solescence, and depletion of property used in the trade or business, 
rent, repairs, and all other expenses in detail. A taxpayer elect- 
ing to include in gross income amounts received during the year 
as loans from the Commodity Credit Corporation should file 
with the return a statement showing the details of such loans. 
(See section 123.) 

Inventories. — If engaged in a trade or business in which the 
production, manufacture, purchase, or sale of merchandise is an 
income-producing factor, inventories of merchandise on hand 
should be taken at the beginning and end of the taxable year, 
which may be valued at (a) cost, or (6) cost or market whichever 
is lower. The basis properly adopted for the first year is con- 
trolling and a change can be made only after permission is 
secured from the Commissioner. Application for permission to 
change the basis of valuing inventories shall be made in vmting 
and filed with the Comnussioner within 90 days after the be- 
ginning of the taxable year in which it is desired to make the 
change. Indicate opposite the inventories in the statement sub- 
mitted by the use of "C" or "C or M" whether the inventories 
are valued at cost, or cost or market whichever is lower. If 
the estate or trust elects to use the inventory method provided 
in section 22 (d), there should be filed an election on Form 970. 

Depreciation, etc. — See General Instruction M in case any 
deduction is claimed for depreciation, obsolescence, or depletion. 

Bad debts. — Bad debts may be deducted either (a) when they 
become wholly or partially worthless, or (6) by a reasonable 
addition to a reserve. No change of method may be made without 
permission of the Commissioner. 

Installment sales. — If the installment method is used, attach 
to the return a schedule showing separately for the years 1949, 
1950, 1951, and 1952 the following: (a) Gross sales; (&) cost of 
goods sold; (t) gross profits; (d) percentage of gross profits to gross 
sales; (e) amount collected; and (/) gross profit on amoujit col- 
lected. (See section 44.) 

9. Other income. — If the estate or trust had any taxable in- 
come, space for reporting which is not provided elsewhere on 
page I, enter it as item 9, and explain its nature, using a sepa- 
rate sheet if necessary for that purpose. 

11. Interest. — Enter all interest paid or accrued, other than 
on business indebtedness (which should be deducted in com- 
puting income under item 6 or 8). Do not include interest 
on indebtedness incurred or continued to purchase or carry obli- 
gations, the interest upon which is wholly exempt from taxation. 
Any deductions on account of interest should be explained and 
itemized in Schedule F. Do not deduct amounts paid or accrued 
on indebtedness incurred or continued to purchase a single pre- 
mium life insurance or endowment contract. A contract shall 
be considered a single premium life insurance or endowment 
contract if substantially all the premiums on such contract are 
paid within a period of 4 years from the date on which the 
contract is piirchased. 

12. Taxes. — Enter and explain in Schedule F taxes imposed upon 
the estate or trust and paid or accrued during the taxable year, 
not including taxes on property used in the trade or business 
of the estate or trust and those assessed against local benefits of 
a kind tending to increase the value of the property assessed. 
Federal import duties and Federal excise and stamp taxes are 
deductible only if paid or incurred in carrying on a trade or 
business, or in the production or collection of income, or for 
the management, conservation, or maintenance of property held 
for the production of income. Do not include Federal income 
taxes nor estate, inheritance, legacy, succession, gift taxes, taxes 
imposed upon the interest of the estate or trust as shareholder 
of a corporation which are paid by the corporation without re- 
imbursement from the estate or trust. No deduction is allowable 
for any portion of foreign income and profits taxes if a credit 
is claimed in item 23. (See section 29.126-3 of Regulations 11 1 
for rule relating to deduction for estate tax attributable to income 
in respect of decedent.) 

13. Other deductions" authorized by law. — Enter any other 
authorized deductions for which no space is provided on page i, 
including net operating loss deduction allowed by section 93 (s). 
Every taxpayer claiming a deduction due to a net operating loss 
for the preceding taxable year or years shall file with his return 
the statement required by section 29.122-1 of Regulations 1 11. 

Include nontrade or nonbusiness expense incurred either (a) 
for the production or collection of taxable income or (6) for the 
manaifement, conservation, or maintenance of property held for 
the production of taxable income. Deductions should be explained 
in Schedule F. 

Worthless bonds and similar obligations and nonbusiness bad 
debts should be included in Schedule C as losses on capital assets. 

•{r U. S. OOVnNMIHT PRINTINO 



PAGE 4 

Do not deduct losses Incurred in transactions which were 
neither connected with the trade or business of the estate or 
trust nor entered into for profit. 

In case the estate or trust incurred expenses in connection 
with exempt income or owned any property the income from 
which is exempt, see section 24 (a) (5) and Regulations iii. 

Item 13 should include losses of property not connected with 
the trade or business of the estate or trust 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 losses claimed in Schedule F, setting forth 
a description of the property, date acquired, cost, subsequent 
improvements, depreciation allowable since acquisition, insur- 
ance, salvage value, and deductible loss. 

Amounts allowable under section 812 (b) as a deduction in 
computing the net estate of a decedent are not allowed as a 
deduction under section 23, except subsection (w), in computing 
the net income of the estate ubless there is filed in duplicate 
with the return in which the item is claimed as a deduction a 
statement to the effect that the item has not been claimed or 
allowed as a deduction from the gross estate of the decedent under 
section 812 (b) and a waiver of any and all right to have such 
item allowed at any time as a deduction under section 812 (b). 
Clearly identify any such item in the statement and waiver and in 
Schedule F. 

16. Amoimt distributable to beneficiaries. — Enter the total 
amount distributable to beneficiaries as reflected in columns 3 
and 4, Schedule G. Care should be taken in filling in Schedule 
G so as to include as beneficiaries persons for whose benefit 
amounts of charitable contributions are, pursuant to the terms 
of the will or deed creating the trust, paid or permanently set 
aside during the taxable year as provided in section 162 (a). 
However, see sections 162 (g) and 3813 for disallowance in whole 
or in part of amounts otherwise allowable under section 162 (a). 
A trust claiming a charitable, etc., deduction under section 16a 
(a) for the taxable year should file information return required 
under section 153 (b). Obtain copy of Form 1041A from the 
director. 

If any part of the income of the trust is taxable to the grantor 
under section 166 or 167, it should not be reported on Form 
1041, but such income and the amount of deductions and credits 
applicable thereto should be shown in a separate statement to, 
be attached to Form 1041. As to the treatment of distributions 
made within 65 days after the close of the taxable year, see section 
162 (d). 

19. Exemptions. — For the purpose of the normal tax and the 
surtax, an estate is allowed an exemption of $600; a trust is 
allowed an exemption of $100. 

21. Tax Rate Schedule. — The schedule below shows the normal 
tax and surtax for the taxable year. The tax to be entered as 
item 21, page i, should be reduced by 3 percent of fiduciary's 
share of partially tax-exempt interest reported in item 4, page i, 
or 3 percent of item 20, page i, whichever amount is the lesser. 
If tax is so reduced, attach statement. 
If item 20, page i is: Enter as item 21, page i: 

Not over $2,000 M.2% of the amount tn Item 20. 

Over t2,000 but not over $4,900 UHt plus 24.6% of eicesa over J2,000. 

Over S4,000 but not over $6,000 $936, plus 29% of excess over $4,000. 

Over $6,000 but not over $8,000 $l,51fi, plus 34% of excess over $6,000. 

Over $S,000 but not over $10,000 $2,196, plus 38% of excess over $8,000. 

Over $10,000 but not over $I2,000._- $2,956, plus 42% of excess over $10,000. 

Over $12,000 but not over $14,000... $3,796, plus 48% of excess over $12,000. 

Over $14,000 but not over $16,000... $4,766, plus 63% of excess over $14,000. 

Over $16,000 but not over $18,000... $6,816, plus 56% of excess over $16,000. 

Over $18,000 but not over $20,000... $6,936, plus 69% of excess over $18,000. 

Over $20,000 but not over $22,000... $8,116, plus 62% of excess over $20,000, 

Over $22,000 but not over $26,000... $9,356, plus 66% of excess over $22,000. 

Over $26,000 but not over $32,000... $11,996, plus 67% of excess over $26,000. 

Over $32,000 but not over $38,000... $16,016, plus 68% of excess over $32,000. 

Over $38,000 but not over $44,000... $20,096, plus 72% of excess over $38,000. 

Over $44,000 but not over $50,000... $24,416, plus 75% of excess over $44,000. 

Over $60,000 but not over $60,000... $28,918, plus 77% of excess over $50,000. 

Over $60,000 but not over $70,000... $36,616, plus 80% Of excess over $60,000. 

Over $70,000 but not over $80,000. _ $44,616, plus 83% of excess over $70,000. 

Over $80,000 but not over $90,000... $62,916, plus 85% of excess over $80,000. 

Over $90,000 but not over $100,000.. $61,416, plus 88% of excess over $00,000. 

Over $100,000 but not over $160,000. $70,216, plus 90% of excess over $100,000. 

Over $160,000 but not over $200,000. $115,216, plus 91% of excess over $150,000. 

Over $200,000 $160,716, plus 92% of excess over $200,000. 

23. Income and profits taxes paid to a foreign country 01 
United States possession. — If, in accordance with section 131 (a), 
a credit is claimed for income, war-profits, and excess-profits taxes 
paid to a foreign country or a possession of the United States, 
submit Form 1.16 with the return, together 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 Commissioner may require 
a bond on Form 1 1 1 7 for the payment of any tax found due if 
the tax when paid differs from the credit claimed. 

24. Income tax paid at source. — Enter the fiduciary's share of 
that portion of the a percent Federal income tax on bond interest 
which was paid at the source by the debtor corporation. 

orrict 19— «7Ma-l 



INDEX 



(Subjects generally pertain to Individual income tax returns. For items relating to Fiduciary income tax returns, 

see alphabetical arrangement under that subject.) 



Page 

Accoxmting period 6 

Adjusted gross deficit 5-6, 8, 

13, 18-20, 23-24, 33-35, -VO-^a, 53, 55 
Adjusted gross income: 

Amoimt 5-6, 8, 

18-20, 23-24, 33-35, 40-42, 45-49, 53-55, 

59-60 

By marital status and sex 8, 34-35 

By States and Territories 45-49, 59-60 

Classes 8-9, 18, 20-44, 46-49, 54-57 

Cumulated 18 

Congjosition 7, 10-12 

Defined 13, 90 (note 4(b)) 



For returns with alternative tax. 



33 

For returns with itemized deductions.. 7, 19, 20, 24 

For returns with normal tax and surtax 33 

For returns with only self-employment tax... 33 

Percentage distribution 18 

Aggregated and simple distributions of number of 
returns, adjusted gross income, and tax lia- 
bility 18 

Aliens 6, 89 (note 5 ) 

Alimony 12 

Alternative tax 9, 14, 33 

Average 33 

Amended returns 6 

Annuities and pensions 10, 19-21, 27, 53, 55 

Armed forces 10, 89 

(notes 3(a), (b) and 4(f)), 92 (note 3) 

Audit revisions not tabulated 5 

Average income tax 33, 54 



B 

Back pay 89 (note 3(c)) 

Business or profession, profit or loss 5-7, 

11, 19-21, 28, 53, 55, 57 



Page 

Changes in Internal Revenue Code 6 

Charts, graphic 5, 7, 63 

Citizens and resident aliens. 6,89 (notes 4(a), 5 and 8) 

Classification of individual returns 8-10 

Comparative data, summary, 1951 and 1952 6 

Compensation excluded from gross income. 10, 89 (note 3) 

Compensation for prior years 89 (note 3(c)) 

Computation of tax 6, 13-14 

Contributions 6, 12, 19-20, 24, 58 

Credits against net income 90 (notes 5 and 6) 

Credit for: 

Exemptions 13, 89 

Foreign tax paid and tax paid at source... 13-14, 33 

Income taxes paid at soxirce 13-14 

Overpayment of prior year ' s tax 14 

Credit on 1953 estimated tax 14 



D 

Declaration of estimated tax 14, 23 

Deductions: 

Itemized 6-9, 12, 19-20, 24-25, 53, 58 

Medical 8, 12, 19-20, 24, 58 

Miscellaneous 12, 19-20, 24, 58 

Net operating loss 11, 

19-20, 22, 29, 53, 55, 90 (note 4(a)) 

Standard 6, 7, 9, 19, 53, 90 (note 4(a)) 

Total 19-20, 25, 58 

Deficit, net 13, 19-20, 25 

Adjusted gross 5-6, 8, 

13, 18-20, 23-24, 33-35, 40-42, 53, 55 

Dependents : 

Credit for 6, 13, 89 

Defined 13 

Description of sample and limitations of data... 15 

Dividends received 6, 7, 

10, 19-21, 26, 40-42, 45, 53, 55-56 

Duplication of exemption 13 



Capital assets, description 91 

Capital gains and losses: 

Capital loss carryover 12, 43-44 

Description 11-12 

Excess of net long-term capital gain over 

net short-term capital loss 11, 44 

Long-term, definition 11 

Net gain or loss from sales of capital 

assets 11-12, 19-20, 22, 43-44, 55 

Net long-term capital gain or loss 11-12, 43-44 

Net short-term capital gain or loss.... 11-12, 43-44 

Returns with alternative tax 9, 14, 33, 44 

Returns with net gain from sales of capital 

assets 22, .29, 43-44, 53 

Returns with net loss from sales of capital 

assets 22, 29, 43, 53 

Returns with normal tax and surtax 44 

Short-term, definition 11 

Synopsis of Federal tax laws affecting 91 

Taxation of 91 



Effective income tax rate 33, 55 

Estates and trusts (fiduciaries). Income from... 12, 

19-20, 22', 30, 53, 55 

Estimated tax, payments on declaration of 14, 23 

Excess net long-term capital gain over net 

short-term capital loss 11, 44 

Exclusion for military and naval personnel 10, 89 

(notes 3(a), (b) and 4(f)) 

Exclusions from gross income 89 (note 3) 

Exemptions : 

Age and blindness 13, 36-39, 

Amount of 13, 23, 25, 33-35, 40-42, 

Marital status 34-42, 

Number 6, 36-42 

Other than age or blindness 6, 10, 13, 36-39, 89 

Per capita 6, 10, 13 

Explanation of classifications emd terms 8-14 



89 
89 
89 



127 



128 



INDEX 



F Page 

Facsimiles of returns 93-126 

Federal tax laws, synopsis of 87-92 

Fiduciaries, income from 53, 55 

Fiduciary income tax returns, taxable and non- 
taxable : "^ 
Aggregated and simple distributions of 
number of returns, total income, and tax 

liability 70 

Alternative tax 63-64, 67, 78 

Amended returns 6<+ 

Amount distributable to beneficiaries 63, 

66-67, 73, 75, 81, 85 

Audit revisions not tabulated 64 

Average tax 78 

Balance deficit 66, 73, 75 

Balance income 66, 73, 75 

Beneficiaries, amount distributable to 63, 

66-67, 73, 75, 81, 85 

Business or trade, profit or loss from 65, 71, 

74, 85 

Capital gains and losses 63, 

65-66, 72, 74, 79-80, 85 

Capital loss carryover 65-66, 79-80 

Chart, graphic 63 

Contributions 64 

Credit for foreign tax paid and tax paid at 

source 64, 67 

Credits against net income 64 

Deductions 64, 66, 72-73, 75, 85 

Miscellaneous 66, 73, 75, 85 

Total 73, 75, 85 

Description of aampi p and limitations of 

data 67-68 

Dividends received 65, 71, 74, 82, 85 

Effective tax rate 78, 84 

Estates, returns for 64-65, 81 

Excess net long-term capital gain over net 

short-term capital loss 65, 80 

Exemption 64, 67, 73, 75, 78, 81, 89 

Explanation of classifications and terms.... 64—67 

Federal tax laws, synopsis of 87-91 

Fiduciaries: 

Income from other 66, 72, 75, 85 

Net income taxable to 63, 66, 

73, 75, 78, 81-82, 85, 89 (note 4(d)) 

Filing requirements 63-64, 89 

Fiscal year retxirns 64, 89 (note 4(e)), 90 

Foreign country, income tax paid to 64, 67 

Form, facsimile of return 119-126 

Government obligations, taxable and par- 
tially tax-exempt interest received 65 

Historical tables, 1944-1952 84-85 

Income tax provisions with respect to fidu- 
ciary income 63-64, 89-91 

Interest on tax-free covenant bonds 64 

Interest paid 66, 72, 75, 85 

Interest received 65, 71, 74, 82, 85 

Long-term capital gain or loss 65, 79-80 

Losses (negative income) 85 

Major characteristics 63 

Miscellaneous deductions 66, 73, 75, 85 

Miscellaneous income 66, 72, 75, 85 

Net deficit 66, 73, 81-82 

Net gain or loss from sales of capital 

assets 63, 65-66, 72, 74, 79-80, 85 

Net gain or loss from sales of property 

other than capital assets 66, 72, 74, 85 

Net income classes 64, 74-77 

Net Income taxable to fiduciary 63, 66, 

73, 75, 78, 81-82, 85, 89 (note 4(d)) 

Net operating loss deduction 66 

Net profit or loss from trade or business... 65, 71, 

74, 85 
Net profit or loss from partnership.. 65, 71, 74, 85 
Net profit or loss from rents and royalties. 65, 71, 

74, 85 



Fiduciary income tax returns — Continued Page 

Nonresident alien beneficiary 63-64 

Nontaxable returns 64, 71-77, 79, 81 

Normal tax and surtax 63-64, 78, 90 

Number of returns. (See specific classifi- 
cations. ) 

Operating loss deduction, net 66 

Partnership profit or loss 65, 71, 74, 85 

Part year returns 64 

Percentage distributions of number of 

ret\ams, total income, and tax liability.. 70 

Positive income 85 

Rate, effective tax 78, 84 

Rents and royalties 65, 71, 74, 85 

Returns included 64 

Sale of property other than capital assets.. 72, 74, 

85 
Sample, description of, and limitations of 

data 67-68 

Self-enployment Income, tax on, not appli- 
cable 64 

Short-term capital gain or loss 65, 79-80 

Simple and aggregated distributions of 
niimber of ret\ims, total Income, and tax 

liability 70 

Sources of income and deductions 65-66, 85 

States and Territories : 65, 82 

Tax credits 64, 67 

Taxes paid 66, 72, 75, 85 

Tax liability.. 63-64, 67, 70, 73, 75, 78, 81-82, 84 

Tax paid at source 64, 67 

Tax rates 90 

Taxable returns 64, 71-81, 84-85 J 

Taxable and nontaxable returns 64, 70, 82 ^ 

Tentative returns 64 

Total deductions 73, 75, 85 

Total deficit 65, 66, 75 J 

Total income... 65, 66, 70, 72, 75, 78, 81-82, 84-85 1 

Total income classes 64, 70-73, 76-81, 84 

Cumulated 70 

Trade or business, profit or loss.... 65, 71, 74, 85 

Trusts, returns for 64-65, 81 

Types of tax liability 64, 78 

Filing requirements 6, 89 

Fiscal year returns 6, 89 (note 4(e) ), 90 

Foreign country, income tax paid to 13-14 

Forms, facsimile's of: 

1040 — Individual income tax return 95-116 

1040A — Employee ' s optional income tax return 117-118 
Forms (1040 and 1040A), number filed 7 



G 

Gains, capital. (See Capital gains and losses.) 

Gambling losses and profits 12 

Geographic divisions. States and Territories.... 10, 

45-49, 59-60 
Gift tax returns. (See "Statistics of Income 

for 1951, Part 1.") 
Government obligations. (See Interest received.) 

Gross deficit, adjusted 5-6, 8, 

13, 18-20, 23-24, 33-35, 40-42, 53, 55 
Gross income. (See also Adjusted gross income.): 

Exclusions from 89 (note 3) 

Requirement for filing 89 



H 

Heads of household 7-10, 35, 38, 42, 89 (note 6), 90 

Historical data, 1913-1943. (See "Statistics of 

Income for 1949, Part 1.") 
Historical data, 1944-1952: 

Adjusted gross deficit 53, 55 

Adjusted gross income 53-55, 59-60 

Adjusted gross Income classes 54-55, 56-57 

Average Income tax per taxable return 54 



INDEX 



129 



Historical data, 19^4-1952— Continued 
Deductions: 

Itemized 53, 58 

Standard 53 

Effective income tax rate 55 

Laws, synopsis of Federal tax 87-92 

Losses (negative income) 53, 55 

Nontaxable returns 53 

Number of returns 53-54, 59 

Positive income 53, 55 

Sources of income 53, 55-57 

States and Territories 59-60 

Tax liability (income and self -employment 

tax combined) 53-54- 

Income tax 53-54, 60 

Self-en5)loyment tax 53 

Tax rates 90 

Taxable retiirns 53-55 

Husbands, returns of 7-10, 34 



N 



Page 



Income. (See Adjusted gross, Fiduciaries, 

Gross, Miscellaneous, Net, Sources of.) 
Income taxes paid to foreign countries or 

possessions of the United States 13-14 

Income exenpt from tax 10, 89 (note 3) 

Income from estates and trusts (fiduciaries).... 12, 

19-20, 22, 30, 53, 55 

Income tax laws 6, 87-91 

Income tax liability 6, 

13-14, 23, 25, 33, 40-42, 45-49, 53-54, 

60, 90 

13-14 

24, 58 



Interest from tax-free covenant bonds 

Interest paid 12, 19-20, 

Interest received... 10, 19-21, 26, 40-42, 45, 53, 55-56 

6 

1 



Internal Revenue Code, changes. 

Introduction 

Itemized nonbusiness deductions: 

Amount 19-20, 24-25, 

Returns with 6-9, 12, 19-20, 24-25, 31-32, 



58 
53 



Net capital gain or loss. (See Capital gains and 
losses. ) 

Net deficit 13, 19-20, 25 

Net gain or loss from sales of property other 

than capital assets 12, 19-20, 22, 29, 53, 55 

Net income 13, 19-20, 25, 90 (note 4) 

Classes 9, 31-32 

Returns with itemized deductions... 19-20, 25, 31-32 

Subject to surtax 90 (note 6) 

Net operating loss deduction 11, 

19-20, 22, 29, 53, 55, 90 (note 4(a)) 
Net profit or loss from business or profession. . 5-7, 

11, 19-21, 28, 53, 55, 57 

Net profit or loss from partnerships 5-7, 

11, 19-20, 22, 28, 53, 55, 57 
Net profit or loss from rents and royalties.... 10-11, 

19-21, 27, 53, 55, 57 
No adjusted gross income (deficit), returns 

with 6, 13, 18, 20-43, 53, 55-58 

Nontaxable and taxable returns combined 5-6, 

18-20, 26-30, 45-49, 53 

Nontaxable returns 6, 7, 9, 21-25, 31-32, 34-43, 53 

Normal tax 90 

Normal tax and surtax 14, 33, 90 

Number of exemptions 6, 36-42 

Number of exemptions classes 36-39 

Number of retiirns. (See specific classifica- 
tions . ) 
Number of returns filed 5-6 



Operating loss deduction, net 11, 

19-20, 22, 29, 53, 55, 90 (note 4(a)) 

Optional return. Form 1040A 6-7 

Optional standard deduction. (See also standard 

deduction.) 6, 90 (note 4(a)) 

Optional tax 6, 14, 89 (note 4(a)), 90 (note 4(d)) 

Other income. (See Miscellaneous income.) 
Overpayment (refund or credit on 1953 esti- 
mated tax) 14, 23 



Joint returns of husbands and wives. 



7-10, 

34, 36-37, 41-42 



L 

Laws, synopsis of Federal tax 87-92 

Long-form returns 6-7 

Long-term capital gain or loss, net 11-12, 43-44 

Losses from fire, storm, etc 12, 19-20, 24, 58 



Partnership profit or loss. 



5-7, 

11, 19-20, 22, 28, 53, 55, 57 

Part year returns 6 

Payments on declaration of estimated tax 14, 23 

Pensions, annuities and 10, 19-21, 27, 53, 55 

Percentage distributions of number of returns, 

adjusted gross income, and tax liability 18 

Prior years, compensation for 89 (note 3(c)) 

Prizes 12 

Property other than capital assets, sale of 12, 

19-20, 22, 29, 53, 55 



M 

Major characteristics of 1952 5-6 

Marital status 7-10, 34-42, 89 

Maximum rate limitation 90 

Married persons, retiirns of 7-10, 34, 36-38, 42 

Medical, dental, etc., expenses.... 8, 12, 19-20, 24, 58 

Men, returns of 7-10, 34-35 

Military personnel. (See Armed Forces.) 

Miscellaneous deductions 12, 19-20, 24, 58 

Miscellaneous income 12, 19-20, 23, 30, 53, 55 



R 

Receipts, total, from business. (See Business 
or profession, profit or loss,) 

Recovery of bad debts 12 

Refund 14 

Rents and royalties 10-11, 19-21, 27, 53, 55, 57 

Resident aliens 6, 89 (notes 4(a), 5 and 8) 

Returns included, individual 6-7 

Revenue Acts amending Code 6, 89-91 

Rewards 12 

Royalties, rents and 10-11, 19-21, 27, 53, 55, 57 



130 



INDEX 



Salaries and wages. 



S Page 

5, 7, 

10, 19-21, 26, 'i0-i2, ^5, 53, 55-56 
Rendered for a period of three years or more 

89 (note 3(c)) 
Sales or exchanges of property other than 

capital assets 12, 19-20, 22, 29, 53, 55 

Sample, description of, and limitations of data 15 

Self-employment tax 5-6, 

9, 13-1-4, 23, 25, 33, ^0-A2, ^5, 53, 92 

Separate returns of husbands and wives 7-10, 

3<i, 37-38, K2 

Sex and marital status 7-10, 34-42 

Short-form returns 6-7 

Short-term capital gain or loss, net 11-12, 43-44 

Simple and aggregated distributions of number 

of retxirns, adjusted gross income, and tax 

liability 18 

Sing].e persons, returns of 7-10, 35, 39, 42 

Size of specific source of income or loss 9, 26-30 

Sole proprietorships. (See also Business or 

profession, profit or loss.) 
Soxirces of income or loss comprising adjusted 

gross income 7, 

10-12, 19-23, 26-30, 40-42, 45, 53, 55-57 

Standard deduction 6, 7, 9, 19, 53, 90 (note 4(a)) 

States and Territories 10, 45-49, 59-60 

Summary, general. (See major characteristics.) 

Surtax, rates 14, 90 

Surtax net income 90 (note 6) 

Sweepstake winnings 12 

Synopsis of Federal tax laws 87-92 



Tax due at time of filing 

Tax liability, total 5-6, 13, 18, 34- 

Income tax 

13-14, 23, 25, 33, 
45-49, 53-54, 

Self-employment tax 

9, 13-14, 23, 25, 33, 

Tax limitation 

Tax overpayment 

Tax paid at soxirce 

Taxpayments 13' 

Tax rates 

Effective 

Tax refund 

Tax withheld 13 

Taxable and nontaxable ret\irns, classification. 

Taxable and nontaxable returns combined 

18-20, 
45. 

Taxable returns 6, 7, 9, 21-25, 31-44 

Taxes paid 12, 19-20, 

Taxes paid to a foreign country or possession 

of the United States 

Tax-free covenant bonds, interest from 

Tentative returns _• 

Total deductions 19-20, 

Trusts, income from estates and. 12,19-20, 22, 30, 

Types of tax liability 

Types of taxpayment 33 



Page 


u, 


23 


-35, 


53 




6, 


40-42, 


60, 


90 


5- 


-6, 


40-42, 


53, 


92 




90 


13 


-14 


13 


-14 


-14, 


23 


6, 


90 


33, 


55 


13 


-14 


-14, 


23 




9 


5 


-6, 


26- 


30, 


-49, 


53 


. 53 


-55 


24, 


58 


13 


-14 


13 


-14 




6 


25, 


58 


53, 


55 




9 


J, 36 


-39 



T 

Tabulated data 15-16 

Tax. (See Alternative, Average, Effective 

rate, Normal, Optional, Tax rates, and 

Surtax. ) 

Tax computation 6, 13-14 

Tax credits 13-14, 90 (note 10) 



W 

Wages, salaries and 5, 7, 

10, 19-21, 26, 40-42, 45, 53, 55-56 

Withheld tax 13-14, 23 

Wives, returns of 7-10, 34 

Women, returns of 7-10, 34-35 

Worthless stocks and bonds 91 



U. S. GOVERNMENT PRINTING OFFICE : 1956 O - 371897 



?05IT0RY 



Statistics 



^ 



? ^5(^.SLil3^o:. 



y 



of Income 
for 1952 



. v\V\\\llll.///,/// . 



MZi 



i«^^ 




*<cii^^^ 



<§*■ 
^ 



U. S. TREASURY DEPARTMENT 
Internal Revenue Service 



Part 2 

Corporation Income 
Tax Returns and 
Personal Holding 
Company Returns 



Statistics 
of Income 

for 1952 



Prepared under the direction of the 
Commissioner of Internal Revenue 
by the Statistics Division 










U. S. TREASURY DEPARTMENT 
Internal Revenue Service 

PUBLICATION NO. 16 



Part 2 

Corporation Income 
Tax Returns and 
Personal Holding 
Company Returns 



UNITED STATES GOVERNMENT PRINTING OFFICE, WASHINGTON : 1955 



For sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C. - Price $1.2.'> (paper cover) 



Boston Public LiV.rary 
Cuner!"+"-^'''"it of nncuments 

fVlAR 1 - 1956 



I 



LETTER OF TRANSMITTAL 



Treasury Department, 
Office of Commissioner of Internal Revenue, 

Washington, D. C, October 25, 1955. 
Sir: In accordance with the provisions of section 63 of the Internal Reve- 
nue Code of 1939 requiring the publication annually of statistics with respect 
to the operation of the Federal income and profits tax laws, I have the honor 
to transmit herewith a report entitled Statistics of Income for 1952, Part 2, 
presenting data relative to income, deductions, assets, liabilities, credits, tax 
liability, and dividends paid as reported on corporation income tax returns and 
personal holding company returns for 1952 filed during 1953. There is also 
included a historical presentation of the income and of the tax liability reported 
by corporations for the years 1944 through 1952, and a synopsis of corporation 
income and profits tax rates and other provisions of the Federal tax laws 
affecting comparability of the historical data. 
Respectfully, 

T. Coleman Andrews, 
Commissioner oj Internal Revenue. 
Hon. G. M. Humphrey, 

Secretary oj the Treasury. 

m 



CONTENTS 



Page 
Introduction _ , 

CORPORATION INCOME TAX RETURNS 

Major characteristics of 1952 _ r 

Changes in the Internal Revenue Code of 1939 g 

Presentation of data tabulated 7 

Returns included -j 

Description of tables o 

Summary data for each classification _ g 

Returns with net income and with no net income g 

Returns with balance sheets _ _ __ s 

Industrial classifications in 

Total assets classes jj 

Net income and deficit classes _ jj 

Consolidated returns .o 

Type of tax liability j2 

Excess profits net income and methods of credit computation 12 

Fiscal year returns --_____ 22 

Part year returns ______ 22 

Life insurance companies 22 

Description of the sample and limitations of data __ 23 

Explanation of terms 24 

Tables for Corporation Income Tax Returns, 1952 

1. Number of returns, net income or deficit, taxes, and dividends paid— all returns. 

by States and Territories (not prepared for 1952) 30 

2. Number of returns, total compiled receipts, net income or deficit, taxes, and 

dividends paid — all returns, by major and minor industrial groups 31 

2a. Number of returns, net income, selected excess profits data, and taxes — returns 
with excess profits net income over $25,000, by major and minor industrial 
groups 3,5 

3. Receipts and deductions — all returns, by major industrial groups 42 

4. Assets and liabilities, receipts and deductions — returns with balance sheets, by 

major industrial groups 54 

4a. As.sets and liabilities, receipts and deductions — consolidated returns with 

balance sheets, by industrial divisions 70 

5. Assets and liabilities, receipts and deductions— returns with balance sheets, by 

total assets classes _ __ _ 72 

5a. Assets and liabilities, receipts and deductions — con.solidated returns with 

balance sheets, by total assets classes 74 

6. Selected assets, liabilities, and receipts — returns with balance sheets, by total 

a.ssets classes and major industrial groups 7(5 

7. Number of returns, net income or deficit, taxes, and dividends paid — all returns, 

by net income and deficit classes and industrial divisions 102 

8. Type of tax liability — all returns, by net income and deficit clas.ses 104 

8a. Number of returns, net income, selected excess profits data, and taxes — returns 

with excess profits net income over $25,000, by method of excess profits 
credit computation and net income classes 105 

9. Dividends received and interest received on Government obligations— all 

returns, by net income and deficit classes 108 

10. Dividends paid — all returns, by net income and deficit classes 109 

1951 Errata 
Text J 12 

Revision of Table 5 II3 

Revision of Table 6 H^ 

V 



VI CONTENTS 

PERSONAL HOLDING COMPANY RETURNS ^ase 

General charact erist ics 116 

Explanation of terms 116 

Table A. — Number of personal holding company returns with subchapter A net in- 
come, by classes 118 

Table B. — Income, deductions, credits, and taxes — personal holding company returns, 

by type of income 118 

HISTORICAL DATA, CORPORATION INCOME TAX RETURNS, 1944-52 

Introduction 121 

Description of tables 121 

Comparability of historical data 121 

Tables for Historical Data, 1944-52 

11. Number of returns, by income and deficit status, and by net income, deficit, and 

total assets classes 125 

12. Number of returns, total compiled receipts, net income or deficit, taxes, dividends 

paid, and total assets, by income and deficit status 127 

13. Receipts and deductions — all returns 129 

14. Assets and liabilities, receipts and deductions — returns with balance sheets 131 

15. Number of returns, total compiled receipts, net income or deficit, and taxes — all 

returns, by major industrial groups and by income and deficit status 133 

16. Number of returns and subsidiaries, total compiled receipts, net income or deficit, 

net operating loss deduction, and taxes, by income and deficit status — con- 
soUdated returns 148 

SYNOPSIS OF FEDERAL TAX LAWS AFFECTING COMPARABILITY OF 
HISTORICAL DATA IN STATISTICS OF INCOME 

CORPORATION INCOME AND PROFITS TAXES, 1944-52 

A. Tax rates 151 

B. Capital gain and loss provisions 153 

C. Con.solidated returns — provisions for filing and tax rates 154 

FACSIMILES OF CORPORATION RETURN FORMS, 1952 

Form 1120, Corporation income tax return 161 

Form 1120L, Life insurance company income tax return 205 

Form 1120M, Mutual insurance company income tax return 209 

Form 1120H, Return of personal holding company 215 

Index 219 



INTRODUCTION 

Annual returns filed in compliance with Federal income tax laws offer a 
unique source of financial information. The Statistics of Income, Part 2, 
contains tabulations prepared from returns of corporations. All domestic and 
resident foreign corporations, except certain nonprofit organizations, are re- 
quired to file income tax returns which show income by source, deductions, 
credits, and Federal income and profits taxes. Other items of importance, 
particularly assets and liabilities, and dividends paid, are also reported. 

The first section of this report presents data on income, deductions, assets, 
liabilities, tax, and dividends paid classified by type of industry, size of total 
assets, and other pertinent classifications. The balance sheet data are shown 
in separate tables with related items of income, deductions, and tax. An ex- 
planation of terms is provided to show specific meaning or metliods of tabulating 
certain items. These corporate data are reported on Forms 1120, 1120L (filed 
by life insurance companies), and 1120M (filed by mutual insurance companies). 
Although computation of insurance company tax requires special forms, items 
of income and deductions reported are comparable to similar items for other 
corporations and data from the three forms are combined in preparing the 
tabulations. Amounts of special adjustments to life insurance company net 
income are stated in the text. 

The second section of the report presents data from Form 1120H, filed by 
a small number of personal holding companies with limited ownership which 
are subject to a surtax on certain undistributed net income. The tabulations 
show items used in development of the surtax base from net income and the 
additional tax liability. Personal holding companies also file the corporation 
income tax return. Form 1120, and their basic financial data are included 
in the tabulations in the first section of this report. 

The third section contains historical data selected from the tabulations 
compiled from the corporation income tax returns, Forms 1120, 1120L, and 
1120M, for the years 1944-52. Comparability of historical data is discussed 
in the accompanying text. 

The fourth section of tlie report contains a synopsis of Federal tax laws 
affecting corporations. The synopsis tables show tax bases, rates, and other 
provisions useful in studying the statistics. 

Facsimiles of the 1952 return forms on which corporate data are reported 
are inserted at the end of the report. 

Selected 1952 corporation data from income tax returns. Forms 1120, 
1120L, and 1120M, by 65 major industry groups, were published in a Prelimi- 
nary Report, Statistics of Income, Part 2, in February 1955. In preparing 
this more detailed complete report for 1952, revisions in the preliminary data 
have not been found necessarj'. 

1 



Corporation 

Income Tax 

Returns 



CORPORATION INCOME TAX RETURNS FOR 1952 



MAJOR CHARACTERISTICS OF 1952 

Although the number of corporation income tax re- 
turns filed for the income year 1952 is at its highest 
level in income tax history, there is a reduction in cor- 
porate net income of $5.1 billion, as compared with 1951. 
Corporate receipts are higher by 2.8 percent than for 
1951, but deductible corporate expenditures are up 4.1 
percent, reducing substantially the net income tax base 
in 1952. 

Corporate income and expense data on tax returns 
indicate that despite an advance of gross sales and re- 
ceipts for 1952, profit margins are being reduced by more 
rapidly advancing costs. The relative size of annual 
expenses and deductions, Federal income and profits tax 
liability, and compiled net profit after taxes is illustrated 
for 1952 in the accompanying chart. 



FOUR PERCENT OF COMPILED RECEIPTS WAS PAID 
AS INCOME AND PROFITS TAXES, 1952 

1952 COMPILED RECEIPTS 




COMPILED NET PROFIT 
AFTER TAXES 



FEDERAL INCOME AHO 
EXCESS PROFITS TAXES 



Expenses and deductions for 1952 are $493 billion, or 
92.7 percent of compiled receipts. The remaining 7.3 
percent of compiled receipts is about equally divided 
between $19.6 billion of compiled net profit after taxes 
and $19.1 billion paid to the Federal Government in the 
form of income and profits taxes. Income taxes account 
for $17.6 billion of the total tax, the excess profits tax 
being only $1.6 billion. Compiled net profit after taxes 
is $279.2 million greater than net income after taxes 
because it includes tax-exempt interest received. 

The total number of corporation income tax returns 
filed for 1952 is 705 thousand. Returns filed by active 
corporations total 672 thousand, of which more than 
one-third report net deficits, aggregating $2 billion. The 



net income reported by 443 thousand active corporations 
is $4.9 billion, or 11 percent, less than the amount for 
1951. The decline in net income represents in effect a 
reduction in the 1952 tax base; the deficit level in 1952 
represents, through loss carryback and carryover provi- 
sions, reductions in past and future year tax bases. Net 
income is defined as current-year net income before the 
deduction of net operating loss for certain other years 
and before certain credits allowable against net income. 
The 1952 total tax liability of corporation returns 
with net income is $19.1 biUion as compared with $22.1 
billion for 1951. As shown in the accompanying table, 
income tax liability of $17.6 billion is reported on 404 
thousand of the 443 thousand returns with net income. 
These 404 thousand returns may or may not have an 
excess profits tax. The remaining 39 thousand returns 
with net mcome have no income tax because of (1) the 
. deduction from current-year net income of the net oper- 
ating loss for certain other years, (2) three special credits 
against current-year net income relating to dividends 
received from corporations that are themselves subject 
to tax, dividends paid on certain preferred stock of pub- 
lic utilities, and a portion of the income of Western 
Hemisphere trade corporations, and (3) credit against 
net income for partially tax-exempt interest received on 
certain United States obligations issued prior to March 1, 
1941. The income tax liability for 1952 is 10 percent 
less than for 1951. 

NUMBER OF RETURNS, NET INCOME OR DEFICIT, 
AND TAXES, CORPORATION RETURNS, 1952 AND 1951 



Total number of returns 

Active corporations; 

Number ot returns.. 

Returns with net Income: 

Number of returns 

Net income thousand dollars. 

Income tax: 

Number of returns 

Amount thousand dollars. 

Excess profits tax: 

Number of returns 

Amount thousand dollars. 

Returns with no net income: 

Number of returns 

Deficit thousand dollars . 

Number ot returns of inactive corpora- 
tions - 



1952 



705, 497 

672.071 

442, 577 
40,431,697 

403,544 
17,596,969 

30,991 
1,550,725 

229,494 
1,975,518 

33,426 



687, 310 

652, 376 

439,047 
45,333,173 

403,409 
19, 623, 441 

40,746 
2, 458, 676 

213, 329 

1,787,583 

34,934 



Increase or 
decrease (— ) 



Number or 
amount 



18, 187 

19, 695 

3.530 
-4,901,476 

135 

-2,026,472 

-9, 755 
-907, 961 

16,165 
187,935 

-1,508 



Per- 
cent 



-10 



-24 

-37 



See p. 24 for "Explanation of Terms" and p. 23 tor "Description of the Sample and 
Limitations of Data." 

The excess profits tax liability of $1.6 billion for 1952 
is reported on 31 tliousand returns. Compared with 
1951, there was a decrease of 24 percent in the number 
with excess profits tax liability and a decrease of 37 per- 
cent in the amount of the excess profits tax. The major 
reasons for these decreases are: (1) a 10 percent decrease 

5 



6 



CORPOEATION INCOME TAX RETURNS FOR 1952 



in returns with net income over $25,000, and (2) a higher 
ratio of excess profits credit to excess profits net income 
for 1952. Returns with net income under $25,000, 
which increased about 4 percent, are not generally 
subject to the excess profits tax. Excess profits credit 
determined by use of a base period net income remains 
constant despite decreases in current-year net income, 
and excess profits credit based on invested capital 
reflects increases in aggregate total assets. All returns 
with excess profits tax also have income tax liability. 

Corporation returns filed for 1952 include 33.4 thou- 
sand returns of inactive (nonoperating) corporations 
which were in existence in 1952 and which were therefore 
required to file. Approximately 33 to 36 thousand in- 
active corporations have filed annually since 1944. 

Compiled receipts of all corporations for 1952 are 
$531.3 billion, of which a small portion, $279.2 million, 
is tax-exempt interest income on corporate holdings of 
Government obligations. Compiled receipts is a gross 
measure of corporate income from all sources. Included 
are both net short-term and long-term capital gains 
reduced respectively by net long-term and short-term 
capital losses, and corporate net gains from sale of 
property other than capital assets. 

Compiled deductions totaling $492.6 billion is a 
measure of deductible corporate expenditure during 1952. 
Corporations paid out over $5 billion as interest pay- 
ments on debt outstanding. Deductions of over $11 
billion represent corporate taxes paid to State and local 
governments, and certain taxes, other than income and 
excess profits taxes, paid to the Federal Government. 
Depreciation and depletion allowances account for $9.6 
billion and $2.1 billion, respectively. Advertising ex- 
penditures deductible for tax purposes total over $5 
billion during 1952. 

The manufacturing industry plays an important role 
in the corporate income and tax changes in the United 
States, since it accounts for about 50 percent of compiled 
receipts and net income, and about 60 percent of the 
total tax liability for all corporations. For 1952, the 
manufacturing net income drops 17 percent below that 
of 1951 and the current year manufacturing deficits 
increase by 21 percent. Total tax liability for manu- 
facturing for 1952 is almost 20 percent less than for 
1951, a decrease which alone accounts for more than 93 
percent of the total tax loss for all corporations. 

Yearly changes for manufacturing, compared with 
those for the seven other industry groups, are presented 
in the following chart which relates to compiled receipts 
and net income. All industries obtained larger total 
receipts for 1952 than for 1951. However, 5 of the 
industry divisions, manufacturing, trade, mining, agri- 
culture, and services, reported lower net earnings for 1952 
than for 1951. Gains in 1952 net income are reported 
by construction, public utility, and financial corporations. 

The comparison of 1952 with 5 years ago appears in 
the lower half of the chart. For all industries, the 1952 
compiled receipts show greater increases over 1948 than 
over 1951. The 1952 net income is lower than the 1948 



net income for trade, mining, agriculture, and services. 
Also, for two of these industries, trade and mining, the 
1952 net income shows a greater decrease over 1948 than 
over 1951. Manufacturing is the only industry division 
with 1952 net income higher than 1948 net income but 
lower than 1951 net income. 



PERCENl CHANGE IN 1952 COMPILED RECEIPIS AND NEl INCDME 
FRDM 1951 AND 1948 LEVELS 



1952 COMPARED WITH 1951 
1951 Level ^ lOOjE 





50 


100 


150 


Percent 
200 




' 




1 

1 




ALL INDUSTRIES 


HP^TOHPILED RECEIPTS^ 


»ET jHCOHE 


AGRICULTURE, 
ETC. 




F 


MINING AND 
pUARRriNG 








CONSTRUCTION 




^^^ 






^^ 


MANUFACTURING 






PUBLIC 
UTILITIES 






^^^ 


TRADE 




■ 






FINANCE, ETC. 




^^^p 






^^ 


SERVICES 




^^P 




1 


1 



1952 COMPARED WITH 1 9i|8 

1948 Level - 100^ 



ALL INDUSTRIES 



AGRICULTURE, 
ETC. 



MINING AND 
QUARRYING 



CONSTRUCTION 



MANUFACTURING 



PUBLIC 
UTILITIES 



TRADE 

FINANCE, ETC. 
SERVICES 




COMPILED RECEIPTS 
NET INCOME 



200 
Percent 



CHANGES IN THE INTERNAL REVENUE CODE 

OF 1939 
TAX RATES 

The returns are filed under the provisions of the In- 
ternal Revenue Code of 1939 as amended. The latest 
revenue act amending the Code is that of 1951 which 
increased the normal-tax rate to 30 percent and the 
maximum tax rate on long-term capital gains to 26 per- 
cent, and established an 18-percent ceiling rate for the 
excess profits tax. These rates became effective April 1, 
1951, for taxable years other than the calendar year 



COEPORATION INCOME TAX RETURNS FOR 1952 



1951 (for which intermediate rates were provided) and 
thus did not become fully effective until 1952. A com- 
parison of the tax rates in effect for returns tabulated 
for this report and those tabulated for the 1951 report 
are shown in the foUowing table. 

TAX RATES, 1952 AND 1951 





Tax rates applicable to returns. Form 
1120, tabulated for— 




1952 
Statistics 
ot Income 

(all 
returns) 


1951 Statistics of Income 


Tax 


Calendar 

year 

returns 


Fiscal year returns 
with months in 
following periods 
(prorated tax) 




Apr. 1. 

1951 
through 
June 30, 

1952 


July 1, 

1950 
through 
Mar. 31, 

1951 




(Percent) 
70 
30 

22 

2 
30 

18 


(Percent) 
68 
28M 

22 

2 
30 

17M 


(Perctnl) 
70 
30 

22 

2 
30 

18 


(Percent) 
62 


Normal tax 


25 


Surtax on surtax net income in excess 
of $25,000- 


22 


Consolidated return tax (comput- 
ed on entire amount of surtax net 
income) 


2 


Excess profits tax (computed on the 
adjusted excess profits net income)... 

Ceiling tax (computed on the excess 
profits net income): 
Excess profits tax and consolidated 


30 


Total normal tax, surtax, and ex- 
cess profits tax 


62 




26 


25 








Taxable year 
beginning- 




After 

Mar. 31, 

1951 


Before 

April 1, 

1951 


Maximum tax on long-term capital gains... 


(Percent) 
26 


(Percent) 
26 



•The rates shown may vary slightly with respect to consolidated returns as a result 
of the method of determining the excess profits tax ceiling when a consolidated return 
is filed. 

MUTUAL SAVINGS BANKS, BUILDING AND LOAN 

ASSOCIATIONS 

The tax-exempt status of certain mutual savings banks, 
building and loan associations, savings and loan associa- 
tions, and cooperative banks is rescinded with respect 
to the income tax by section 313 of the Revenue Act of 
1951, effective for taxable years beginning on or after 
January 1, 1952. The organizations affected are mutual 
savings banks not having a capital stock represented by 
shares, domestic building and loan associations and sav- 
ings and loan associations substantially all the business 
of which is confined to making loans to members, and 
cooperative banks without capital stock organized and 
operated for mutual purposes and without profit. These 
organizations were formerly exempt from income and 
profits taxes under sections 101 (2), (4), and (15) of the 
Internal Revenue Code (1939). The exemption from 
the excess profits tax is continued under section 454 as 
amended by the 1951 act. 

Certain mutual, nonprofit corporations or associations 
without capital stock organized prior to September 1, 
1951, to provide insurance and reserve funds for the 
above organizations, and certain credit unions retain 
tax-exempt status under section 101 (4) as amended by 
the Revenue Act of 1951. 



Mutual savings banks conducting separate life insur- 
ance departments, with separate accounts, are required 
to compute for such departments a separate net income 
and tax, using the provisions and tax rates provided 
for life insurance companies (page 22). This partial tax 
is added to and reported with the tax computed for the 
banking business. Mutual savings banks with a net 
deficit may, under this tax provision, report income tax 
based on income from the life insurance department. 
In tabulating data for this report the life insurance 
department accounts are combined with those of the 
banking department. 

Data from returns, Form 1120, filed by mutual savings 
banks are included in the major group "Finance: Banks 
and trust companies," and a new minor group, "Mutual 
savings banks," is provided for presentation of selected 
items. Data for building and loan associations, savings 
and loan associations, and cooperative banks are in- 
cluded in the major group "Finance: Credit agencies 
other than banks," and selected data are shown sepa- 
rately in a new minor group, "Savings and loan, building 
and loan associations." 

The data tabulated for these new minor industrial 
groups are from returns filed for taxable years beginning 
on or after January 1, 1952, by the corporations formerly 
exempt from income taxation under section 101 of the 
1939 Code and all other returns filed by similar corpo- 
rations which never met the tax-exemption requirements. 
Selected items for minor industrial groups appear in 
table 2. 

Since the tabulations in this report cover returns 
ending in the period July 1952 through June 1953, and 
the tax exemption of mutual savings banks, building 
and loan associations, etc., is rescinded only for taxable 
years beginning on or after January 1, 1952, the data 
for 1952 do not represent a complete coverage of such 
organizations. Returns for these organizations for fiscal 
years ending during 1952, to which provisions of section 
101 apply, are filed on Form 990 (returns used by tax- 
exempt organizations) and are not tabulated in this 
report. 

PRESENTATION OF DATA TABULATED 
RETURNS INCLUDED 

The returns included in this report are the corporation 
income tax returns filed for the calendar year ending 
December 31, 1952, fiscal years ending within the period 
July 1952 through June 1953, and part years with the 
greater portion of the accounting period in 1952. 

The data are from corporation income tax returns, 
Form 1120; life insurance company income tax returns, 
Form 1120L; and mutual insurance company income 
tax returns. Form 1120M. Returns of foreign corpora- 
tions engaged in trade or business within the United 
States are included. 

The statistics are compiled from income tax returns 
as filed, pj-ior to revisions that may be made as a result 
of audit by the Internal Revenue Service and prior to 



CORPOKATION INCOME TAX RETURNS FOR 1952 



changes which may result from carrybacks after the 
returns are filed. 

Tentative returns are excluded from all tabulations 
and amended returns are used only if the original returns 
are excluded. Returns of inactive corporations are ex- 
cluded from all tables, except the first text table on 
page 5, the table for fiscal year returns on page 22, 
and the second table for personal holding companies 
presented in a separate section of the report. 

Returns of income taxable under section 101 (12) (B) 
and Supplement U, filed on Forms 990-C and 990-T, 
by organizations exempt from corporate taxation under 
section 101 of the 1939 Code, are excluded from this 
report. 

DESCRIPTION OF TABLES 

The general-purpose tables presented in each Sta- 
tistics of Income, Part 2, cover financial data reported 
annually on corporation income tax returns. The de- 
tailed tabulations of items and classifications are pre- 
sented in 14 basic tables, 13 of which are published each 
year. Basic table 1, in which number of returns, net 
income or deficit, tax, and dividends paid are classified 
by States, now is prepared biennially and does not 
appear in this report. Also, summary tables and charts 
are presented throughout the text of each volume. 
Major trends, for the years 1944-52, can be obtained 
from the historical tables on pages 125 to 148. 



Basic tables 2-10 include many items of assets, lia- 
bilities, income and deductions, as well as profits, statu- 
tory net income, tax liability, and dividends paid. The 
data are classified by 9 industrial divisions, 65 major 
industry groups, 205 minor industry groups, 10 size 
classes of total assets, 13 size classes of net income or 
deficit, and type of tax liability. 

Additional data from returns with excess profits net 
income in excess of $25,000 are tabulated in basic tables 
2a and 8a. Number of returns, net income, selected 
excess profits data, and tax are given by major and 
minor industrial groups in table 2a, and by method of 
excess profits credit computation and by size of net 
income in table 8a. 

Data from consolidated returns, filed for affiliated 
groups of corporations, are tabulated separately in table 
4a, by industrial divisions, and in table 5a, by size of 
total assets. 

Information reported on fiscal year and part year 
returns are included in all tabulations, and also separate 
tabulations of selected items from these returns appear 
as text tables. In all tables, values in thousand dollars 
are rounded and, therefore, may not add to the totals. 

The amounts tabulated for income tax and excess 
profits tax are before any deduction for credit claimed 
for income and profits taxes paid to foreign countries or 
United States possessions. 



NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TAXES, BY INDUSTRIAL 

DIVISIONS, 1952 





Total 
number 

of 
returns 


Ret 




Returns with net income 






Returns with no net income 


Industrial divisions 


arns 


Total 
compiled 
receipts 


Net 
income 


Taxes 


Returns 


Total 
compiled 
receipts 




Number 


Percent 

of 

division 

total 


Total 
tax 


Income 
tax 


Excess . 
profits tax 


Number 


Percent 

of 

division 

total 


Deficit 


All industrial divisions 


672,071 
8.869 
9,055 
31, 817 
119,399 
28,460 
221, 314 

185, 855 

61,647 

5,655 


442, ,577 

4,988 

4,839 

20,946 

80,795 

18,082 

148, 365 

128, 491 

35,084 

987 


65.9 
66.2 
53.4 
65.8 
67.7 
63.5 
67.0 

69.1 
56.9 
17.5 


(Thousand 

dollars) 
486,441,344 
2, 090, 020 

8, 047, 731 
13, 494, 727 

244, 424, 014 
36, 459, 420 
150,826,391 

21, 329, 647 

9, 680, 232 

89, 162 


( Thousand 

dollars) 

40, 431, 697 

194, 358 

1,101,093 

683, 685 

21,081,015 

6, 032, 841 

4, 8.58, 728 

6, 707, 560 

761,988 

10,429 


( Thousand 

dollars) 

19, 147, 694 

77, 436 

507, 389 

306, 633 

11,419, 132 

2, 479, 760 

2, 265, 861 

1, 765, 557 

331,965 

3,961 


( Thousand 

dollars) 

17, 596, 969 

75. 637 

493. 188 

280, 343 

10, 125, 517 

2, 439. 108 

2, 146, 545 

1, 723, 260 

309, 6,52 

3,719 


(Thousand 

dollars) 

1, 550, 725 

1,799 

14, 201 

26, 290 

1, 293, 615 

40, 652 

109, 316 

42. 297 

22, 313 

242 


229,494 
3,881 
4,216 
10. 871 
38, 604 
10, 378 
72, 949 

57,364 
26, 563 
4,668 


34.1 
43.8 
46.6 
34.2 
32.3 
36.5 
33.0 

30.9 
43.1 
82.5 


(Thousand 

dollars) 
44, 865, 954 
470, 427 

1, 668, 791 
1, 802, 325 

16, 671, 142 
2, 14S, 244 

17, 830, 729 

2, 339, 926 
1, 920, 334 

14,036 


( Thousand 
dollars) 
1, 975, 518 


Agriculture, forestry, and fishery 


55, 396 
120, 234 


Construction 


84,927 


Manufacturing _ 


762, 895 




122, 432 


Trade 


439, 907 


Finance, insurance, real estate, and 


248. 619 


Services 


132, 233 


Nature of business not allocable 


8,875 



See p. 24 for "Explanation of Terms" and p. 23 for ''Description of the Sample and Limitations of Data 

SUMMARY DATA FOR EACH CLASSIFICATION 



RETURNS WITH NET INCOME AND WITH NO NET 

INCOME 

An important classification of the returns in this vol- 
ume is the distinction between returns with net income 
and returns with no net income. The basis for this clas- 
sification is the current year net income or deficit, i. e., 
the difference between the total income and total deduc- 
tions as reported on the return, exclusive of the net oper- 
ating loss deduction. Returns with total deductions 
(exclusive of the net operating loss deduction) equal to 
or exceeding total income are classified as returns with 
no net income. 

The number and percent of returns with net income 



and with no net income in each of the nine industrial 
divisions are given in the preceding table. For 1952, 
about 66 percent of all returns report net income. The 
finance division has the largest percentage of returns 
with net income, and the mining and quarrying division 
the lowest. The "Nature of business not allocable" 
group, whicli* contains corporations which cannot be 
classified in any of the other eight specified groups, does 
not contain a representative distribution of the returns. 
RETURNS WITH BALANCE SHEETS 

Returns with apparently complete balance sheet data 
number 615,698, or 92 percent of all returns filed by 
active corporations. The high ratio of the number of 
returns with balance sheets, for each industrial division, 



CORPORATION INCOME TAX RETURNS FOR 1952 



is portrayed in the chart below. Manufacturing corpo- 
rations lead with 95 percent of the number of returns 
showing balance sheets. In three other industrial divi- 
sions, construction, trade, and finance, 90 percent or 
more of the returns have balance sheets. 

An unusually high portion of compiled receipts also 
occurs on returns with balance sheets. As the following 
chart shows, over 98 percent of compiled receipts for five 
industrial groups, public utilities, manufacturing, finance, 
trade, and construction, is reported on returns with bal- 
ance sheets. This record is an unusually good one, since 
these five groups combined account for over 95 percent 
of the compiled receipts and the net income for all re- 
turns for 1952. 

Total assets, reported as of December 31, 1952, or 
close of fiscal year nearest "thereto, amount to almost 
$722 billion. Assets of less than $50,000 are reported 
by 253,029 corporations, while assets of $100 million or 
more are reported by 854 corporations. 

Balance sheets are available for 95 percent of returns 
with net income and 86 percent of returns with deficit. 
As shown in the first following table, this percentage is 
somewhat lower for returns with net income or deficit 
imder $5,000, but it is 100 percent for 512 returns with 
net income or deficit of $10 million or more. 

Returns with balance sheets have other outstanding 
characteristics. In addition to the high percentages of 
number of returns, compiled receipts, and net income 
mentioned above, these returns also account for 99 per- 
cent of compiled net profit or net loss, and the total tax 
liability for 1952. The amounts of each item of receipts 
and deductions, as well as total tax liability and dividends 
paid, are given in the second following table. 

The 56,373 returns for which the balance sheet data 
are entirely lacking or are fragmentary are classified as 
returns with no balance sheets. Income, deduction, 
and tax data from these returns are excluded when such 
data are shown in association with balance sheet items. 



PERCENT OF RETURNS SHOWING BALANCE SHEETS AND COMPILED RECEIPTS 
REPORTED THEREON, BY INDUSTRIAL GROUPS, 1952 



^NUMBER OF RETURNS ■COMPILED RECEIPTS 







-J o t— 



3 — O 
X =9 — > 



NUMBER OF RETURNS WITH BALANCE SHEETS, BY 
NET INCOME AND DEFICIT CLASSES, 1952 





Returns with 
net income 


Returns with no 
net income 


Net income and deficit classes 


Num- 
ber of 
returns 


Num- 
ber of 
balance 
sheets 


Percent 

of 
returns 

with 
balance 

sheets 


Num- 
ber of 
returns 


Num- 
ber of 
balance 
sheets 


Percent 

of 

returns 

with 

balance 

sheets 


Under $6,000 


207,201 

61,780 

37, 136 

27,752 

26,357 

33,470 

20,623 

15,064 

6,968 

3,243 

3,020 

455 

508 


189,029 

69,253 

36,909 

27,078 

25,801 

32, 895 

20,319 

14, 878 

5,886 

3,182 

2,990 

446 

508 


91.2 
95.9 
96.7 
97.6 
97.9 
98.3 
98.6 
98.8 
98.6 
98.1 
99.0 
98.0 
100.0 


170,947 

24,844 

11,014 

5,680 

3,612 

7,628 

3,231 

1,867 

389 

184 

84 

10 

4 


143, 599 

22,705 

10,024 

5,176 

3,338 

7,179 

3,081 

1,774 

381 

171 

82 

10 

* 


84 


$5,000 under $10,000 




$10,000 under $15,000 

$16,000 under $20,000 . 


91.0 
91 1 


$20,000 under $25,000 




$25,000 under $50,000 . . 


94 1 


$50,000 under $100,000 




$100,000 under $260,000 

$250,000 under $600,000 


95.0 
97 9 


$600,000 under $1,000,000 


92 9 


$1,000,000 under $6,000,000. 


97 6 


$6,000,000 under $10,000,000 

$10,000,000 or more 


100.0 
100 






Total 


442, 577 


418, 174 


94.5 


229,494 


197, 624 


86 1 







See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and 
Limitations of Data." 

RECEIPTS AND DEDUCTIONS, BY RETURNS WITH OR 
WITHOUT BALANCE SHEETS, 1952 



Items 



Number of returns. 



Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations 

Oess amorlizable bond premium) : 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other interest 

Rents 

Royalties 

Net short-term capital gain reduced 

by any net long-term capital loss. 
Net long-term capital gain reduced 

by any net short-term capital loss. 
Net gain, sales other than capital 

assets. 

Dividends, domestic corporations 

Dividends, foreign corporations _. 

other receipts 



Total compiled receipts.. 



Deductions: 

Cost of goods sold 

Cost of operations _._ , 

Compensation of officers 

Rent paid on business property 

Repairs.. 

Bad debts _ 

Interest paid 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion __ 

Amortization... _ 

.\dvertising __ 

.^mounts contributed under pension 

plans. 
Amounts contributed under other 

employee benefit plans. 
Net loss, sales other than capital 

assets 
other deductions 



Total compiled deductions... 

Compiled net profit or net loss (16 less 34) . 

Net income or deficit (35 less 6) 

Net operating loss deduct ion 



Income tax 

Excess profits tax... 

Total tax. 



Compiled net profit less total tax (35 

less 40). 
Dividends paid: 

Cash and assets other than own stock. 

Corporation's own stock 



Aggregate 



672, 071 



Returns 
with 

balance 
sheets 



615, 698 



Returns 
with no 
balance 
sheets 



56, 373 



(Thotuand dollars) 



429, 513, 705 
79, 804, 962 



1,931,648 
115, 303 
279,196 
7, 156, 214 
4, 137, 173 
538,158 
25,306 

1, 353, 58S 

486, 261 

2, 360, 246 

547, 695 

3, 068, 843 



531, 307, 298 



330,821,084 

45, 365, 688 

8,430,011 

4, 486, 249 

5, 067, 860 

940,537 

5, 013, 243 

11, 696, 794 

398, 679 

9, 604, 404 

2, 126, 452 

831, 310 

5, 026, 771 

2, 5S1, S40 

630,420 

329,443 

59, 252, 238 



492, 571, 923 



38, 735, 375 

38, 456, 179 

396, 748 



17, 596, 969 
1, 550, 725 



19, 147, 694 



19, 587, 681 



11,262,757 
1, 363, 620 



424, 669, 963 
78, 694, 733 



1, 917, 749 
115, 007 
278, 361 
7, 097, 239 
4,008,531 
626,660 
24,. 528 

1,311,692 

466,690 

2, 325, 478 

544,420 

3, 030, 198 



625,011,139 



326, 886, 742 
44. 710, 198 

8, 282, 246 
4, 406, 438 
5,017,116 

928,879 

4, 948, 830 

11,572,804 

396,085 

9, 492, 670 
2,112,882 

827,309 
4, 976, 661 
2, 538, 428 

627, 675 

314, 102 

58, 465, 344 



486, 604, 408 



38, 506, 731 

38, 228, 380 

381,057 



17, 464, 824 
1, 537, 527 



19, 002, 351 



19, 504, 380 



11,196,079 
1, 360, 145 



4, 843, 742 
1, 110, 229 



13,899 
296 
845 

57, 975 
128,642 

11,498 
778 

41,896 

19, 671 

24,768 

3,275 

38,645 



6, 296, 159 



3, 934, 342 

655,490 

147, 766 

78,811 

50,745 

11,658 

64,413 

123,990 

2,494 

111,734 

13, 570 

4,001 

50,110 

13, 412 

2,745 

16,341 

786,894 

6, 067, 615 



228,644 

227,799 

14, 691 



132, 145 
13,198 



146,343 



83,301 



66,678 
3,475 



See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and 
Limitations of Data." 



10 



CORPORATION INCOME TAX RETURNS FOR 1951! 



INDUSTRIAL CLASSIFICATION 

The iiuiustrial classification consists of 9 divisions, 65 
major groups, and 205 minor groups, based, in general, 
on the Standard Industrial Classification issued by tlie 
Division of Statistical Standards, Bureau of the Budget, 
Executive Office of the President. Since the Standard 
Industrial Classification is designed on an establishment 
basis, it was necessary to reduce greatly the number 
of groups and to make changes in the contents of the 
groups in order to adapt the Standard Classification to 
the corporation income tax retin-ns which are filed on an 
ownerehip basis. A change in the industrial classifica- 
tion between 1951 and 1952 is made to provide minor 
group segregation of (1) banks and trust companies 
other than mutual savings banks, (2) mutual savings 
banks, and (3) savings and loan, building and loan 
associations. Included in the last two groups are returns 
for taxable yeai-s beginning on or after January 1, 1952, 
of corporations whose tax-exempt status was abolished 
by the Revenue Act of 1951. See page 6, "Changes in 
the Internal Revenue Code." 

The industrial classification is based on the business 



activity reported on tiie return. When multiple busi- 
nesses are reported, the classification is determined by 
the business activity wiiich accounts for the largest 
percentage of total receipts. Therefore, the industi'ial 
groups do not reflect pure industry classifications. 

In analyzing ilata compileil from returns classified 
under the major group "Insurance carriers and agents," 
the special provisions of law afl'ecting life insurance com- 
panies, described on page 22 should be noted. 

Tile relative importance of the nine industrial divisions 
in these corporation statistics is given for 1944-52 in the 
following chart. Net income (less deficit) is used as the 
basis of comparison. 

Corporate net income of $38.5 bilhon for 1952 is almost 
12 percent less tlian the $43.5 billion level reached in 
1951, but represents a gain of about 12 percent over the 
1948 net income. The 1949 net income of $28 billion 
represented a decrease of 18 percent below the $34 
billion reported for the previous yeai- 1948. However, 
an immediate recovery was made, since for 1950 the 
aggregate net income of $43 billion was 51 percent above 
tliat for 1949. All industry divisions revealed increased 



NET INCOME. BY INDUSTRIAL DIVISIONS. 19441952 



ei I lion dol lars 
50 



U5 



35 



30 



25 



20 



L 



Bi llioii dollars 
1 50 



AGRICULTURE. ETC. 




19146 



I9U7 



1951 



1952 



CORPORATION INCOMP: TAX RETURNS FOR 1952 



11 



net income for 1950, while only finance made a gain for 
1949. The 1952 net inromc of $:i8 billion is 36 percent 
above the $28 billion reported for 1949. 

For 1944-52, the net income for manufacturing corn- 
prises over one-half of the aggregate net income for all 
corporations, except for the years 1945 and 1946. For 
1952, the four industrial divisions manufacturing, trade, 
finance, and public utilities account for 94 percent of the 
aggregate net income. 

Net income of .SI 39 million reported by the agiiculture 
industry for 1952 is a decrease of 46 percent over the 
1951 net income of .$259 million and a drop of 53 per- 
cent from the agricultural peak of $294 million for 1950. 
In the 9-year period 1944-52 agricultural net income rose 
83 percent through 1948, and, in spite of a 19 percent 
slump for 1949, had gained 146 percent by 1950. The 
1951-52 drop brings the 1952 net income down to within 
16 percent of the 1944 amount. 

Compared with 1944, the 1952 net income for the con- 
struction and mining industries show large increases of 
330 percent and 209 percent, respectively. A compara- 
ble figure for manufacturing shows that net income for 
19-52 was 37 percent higher than for 1944. The mining 
and quarrying industry reached its highest point in 1948 
with net income equal to over three-and-one-half times 
the 1944 net income. The $599 million net income for 
the construction industry for 1952 is the highest reported 

to date. 

TOTAL ASSETS CLASSES 

The returns for which balance sheets are available are 
segregated into 10 classes by size of total assets as of 
December 31 , 1952, or close of fiscal year nearest thereto. 
The total assets classes are based on the net amount of 
total assets, after reserves for depreciation, depletion, 
amortization, and bad debts. 

Of the returns for 1952 with balance sheets, 485,000, 
or 79 percent, show total assets under $250,000. The 
total assets for these corporations are only 5 percent of 
the $722 billion of total assets reported for all corpora- 
tions. In contrast to this group of the smallest corpora- 
tions, the companies with total assets of $100 million or 
more number only 8-54, but they account for 52 percent 
of the total assets ior all corporations in the United 
States (see basic table 5, pages 72—73). 

The number of returns in each assets size class has 
increased substantially since 1944. Probably the most 
outstanding increase relates to the returns with total 
assets between $50,000 and $500,000 (see historical 
table 11, pages 125-126). This group more than doubled 
in number from 140,000 in 1944 to 285,000 in 1952. 
Evidently a great many corporations of this size were 
either incorporated for the first time or increased their 
total assets to more than $50,000. 

For corporations of all sizes, the postwar growth of 
the size of total assets has been steady and remarkable. 
The following chart depicts the growth since 1944 for 
each of the years 1948, 1951, and 19.52. For the two 
lowest classes "under $250,000" and "$250,000 under 
$.500,000," total assets about doubled between 1944 and 



GROWTH OF CORPORATIONS 
Total Assets, 19441952 



0i I lion 401 lars 
MOO 



rllion dol lar« 
1K» 




260 MO 1.000 i.OOO O.OOO 50.000 lOO.'.M 

unoEB uao^e g,(|£|p uapEe u.-jf* ,,,-j^> uhoeb on 

2^ SOO 1,000 5,000 10.000 50,000 100.000 MOte 
TOT«L ASSETS CUSSES r thmtand *;/.r«> 



1952. For the largest class, with total assets of $100 
million or more, the assets increased from $219 billion 
for 1944 to $379 billion for 1952. 

NET INCOME AND DEFICIT CLASSES 

The returns are segregated into 13 classes by size of 
net income or deficit. This classification is based on 
the net income or deficit for the current year before any 
net operating loss deduction. 

Many corporations have a small current-year net 
income. As given in the table on page 9, 207,000,. or 
47 percent of all 19.52 active corporations with net 



J66266 O - 55 - 2 



12 



CORPORATION INCOME TAX RETURNS FOR 1952 



income have a net income of less than $5,000. How- 
ever, there are 28,000 returns with net income of 
$100,000 or more, of which 508 returns show net income 
of $10 million or more. 

Returns with a current year deficit number 229,000 

for 1952. Most of these, 74 percent, have a deficit under 

$5,000. Deficits of over $100,000 occur on 2,500 returns, 

of which four returns have a deficit of $10 miUion or more. 

CONSOLIDATED RETURNS 

A consohdated return, which may be filed for a group 
of affiUated corporations, is based on the principle of 
levying the tax on the combined net income of two or 
more integrated concerns. 

Corporations included in an affiliated group for income 
and profits tax purposes must be connected through 
stock ownership with a common parent corporation 
which owns stock of at least one member of the group 
equal to (a) at least 95 percent of the voting power of 
all classes of stock, and (b) at least 95 percent of each 
class of nonvoting stock (except stock which is limited 
and preferred as to dividends). In addition, these same 
proportions of the stock of each other member of the 
group must be owned by one or more of the corporations 
within the group. An additional tax, equal to 2 percent 
of the surtax net income, is imposed on corporations 
electing to file consolidated returns. 

A synopsis of the Federal tax laws under which con- 
sohdated returns were elected to be filed for the years 
1944 through 1952 appears on page 154. 

Consolidated returns were filed for 2,169 affihated 
groups. The data cover 9,019 subsidiary corporations 
in addition to the conamon parent corporations. These 
returns show compiled receipts of $54 billion, net income 
less deficit of $4 billion, and total assets of $73 billion. 
Income and profits taxes on the 1952 consohdated re- 
turns, including the additional 2 percent surtax, amount 
to $1.7 billion. About 72 percent of the 1952 consoh- 
dated returns have a predominant business activity 
classified as manufacturing, trade or finance. 

The number of corporations filing consolidated returns 
for 1952 increased by 12 percent over 1951 (see following 
table). Likewise, the number of subsidiaries included 
therein increased by 19 percent between the 2 years. 
Similar data for manufacturing, the industrial group 
with the largest number of consohdated returns, show in- 
creases of 24 percent in number of consolidated returns and 
24 percent in the number of subsidiaries included therein. 

NUMBER OF CONSOLIDATED RETURNS AND SUB- 
SIDIARIES, BY INDUSTRIAL DIVISIONS, 1952 AND 1951 



Industrial divisions 



All industrial divisions 

Agriculture, forestry, and fishery 

Mlnini! and quarrying 

Construction 

Manufacturing ■ 

Public utilities 

Trade - 

Finance, insurance, real estate, and lessors 

of real property 

Services 

Nature of business not allocable 



Nxunber of con- 
solidated returns 



1962 



2,169 
17 
91 
98 
66S 
189 
479 

■423 

204 

3 



1961 



18 
87 
96 
535 
173 
426 

412 

184 

9 



Number of sub- 
sidiaries 



1962 



9,019 

69 

346 

272 

2,402 

1,076 

1,807 

1,606 
1,436 

7 



1951 



7,551 

55 

253 

265 

1,932 

1,068 

1,379 

1,423 

1,176 

12 



See p. 24 for "Explanation of Terms." Data not subject to sampling variability since 
all these returns were tabulated. 



TYPE OF TAX LIABILITY 

Taxable returns are classified in basic table 8, page 
104, according to those with income tax liability and 
those with both income tax and excess profits tax lia- 
bility. A corporation with net income is not subject 
to the excess profits tax if (1) the adjustments under 
section 433 result in excess profits net income of $25,000 
or less, (2) the credits allowed under section 431 are 
greater than the excess profits net income, or (3) it is 
exempt under section 454 of the 1939 Code. 

A secondary classification is also used in basic table 8 
to permit segregation of returns showing the alternative 
income tax. This tax is available to corporations with 
a net capital gain which results from the excess of "net 
long-term capital gain" over "net short-term capital 
loss." The alternative tax results in a somewhat lower 
income tax than would otherwise be imposed, since it 
consists of a tax at the regular income tax rates on the 
amount of income in excess of the net capital gain plus 
a tax of 26 percent on net capital gain. 

Of the 404,000 taxable 1952 returns, 373,000 returns 
have income tax only, while a much smaller number, 
31,000, have both income and excess profits tax. Since 
more of the latter group have higher incomes, $8,395 
million, or 48 percent, of the total income tax liability 
of $17,597 million is reported on these 31,000 returns. 

The total income tax of $17,597 million contains an 
alternative income tax of $11,138 million. If the 
alternative tax had not been in effect, the income tax 
liability would have been increased by $223 million, or 
1 percent, to $17,820 million. 

EXCESS PROFITS NET INCOME AND METHODS OF 
CREDIT COMPUTATION 

The excess profits net income is derived from the net 
income by making certain adjustments consisting prin- 
cipally of the exclusion of capital gains and losses, both 
long- and short-term, and dividends received from foreign 
and domestic corporations. (For specific adjustments 
in arriving at the excess profits net income see facsimile 
of Schedule EP, Form 1120, page 175). An excess profits 
credit based on net income of the base period or on 
invested capital, and an adjustment for unused excess 
profits credit from prior years are allowed in arriving a^ 
the adjusted excess profits net income on which the excess 
profits tax is imposed. A minimum credit of $25,000 
makes the excess profits tax ineffective for returns on 
which the excess profits net income is $25,000 or less. 
Methods of computing the excess profits credit follow, 
and data are tabulated for these returns separately in 
basic tables 2a and 8a on pages 36-41 and 105-107. 

Income method 

The excess profits credit determined under the in- 
come method is based on the average excess profits net 
income for the base period years 1946-49. It is, in gen- 
eral, the sum of (a) 83 percent of the average base 
period net income, plus (b) 12 percent of the base period 
capital addition, plus (c) 12 percent of the capital addi- 



CORPORATION INCOME TAX RETURNS FOR 1952 



13 



tion (or minus 12 percent of the net capital reduction) for 
the taxable year. Three principal rules are provided 
for determining the average base period net income. 
They are: 

(a) General average. — The general average base 
period net income is the average excess profits net 
income for the 3 years of the base period, selected 
under prescribed rules, which produce the highest 
base period net income. 

(b) Alternative based on growth. — The alternative 
average base period net income is determined from 
the income experience of the last 12 or 24 months of 
the base period, or the 12 months beginning July 1, 
1949, and ending June 30, 1950, whichever is high- 
est. In certain cases the last 6 months of 1948 may 
be substituted for the last 6 months of 1949. This 
alternative method is restricted to companies meet- 
ing prescribed tests with respect to size of total 
assets and increases in gross receipts, payroll, or 
sales of a product not generally available before 
January 1, 1946. Under this method credit for base 
period capital addition is disallowed. 

(c) Industry rate of return. — The average base 
period net income may be determined by use of an 
industry rate of return, in lieu of the taxpayer's 
own experience, for all or part of the base period, by 
certain corporations with abnormalities or changes 
in product, services, or capacity during the base 
period, new corporations, and those belonging to a 
depressed industry subgroup. The industry rates 
of return and the adjusted rates for depressed in- 
dustry subgroups are shown on pages 204 and 202- 
203, respectively, facsimile of Instructions for Sched- 
ule EP, Form 1120. Special rules are provided for 
credit for capital additions. 

Invested capital method 

The excess profits credit based on invested capital is, 
in general, computed by applying the following rates to 
the amount of invested capital: 
First $5,000,000, 12 percent; 



Next $5,000,000, 10 percent; and 

Over $10,000,000, 8 percent. 
The amount of invested capital used in this computation 
may be based either on assets or on the historical invested 
capital. An alternative method is provided for certain 
regulated public utilities. 

(a) Assets. — Invested capital determined by the 
"assets" method consists generally of the sum of (1) 
the excess of total assets over total liabilities at the 
beginning of the taxable year, (2) 75 percent of the 
average borrowed capital for the year, and (3) the 
recent loss adjustment. This amount is increased 
by certain new capital acquired during the year and 
decreased by certain capital distributions during the 
year. Credit for capital added since the beginning 
of the first taxable year ending after June 30, 1950, 
by corporations with invested capital over $5 mil- 
lion, is computed at 12 percent. 

(b) Historical. — The historical invested capital 
consists, in general, of money and property pre- 
viously paid in for stock, or as paid-in surplus, or as 
a contribution to capital, plus the accumulated earn- 
ings and profits of the corporation as of the begin- 
ning of the taxable year, plus 75 percent of the aver- 
age daily borrowed capital. 

(c) Alternative excess profits credit of regulated 
public utilities. — This credit, in general, consists of 
the amount of the corporation's normal tax and sur- 
tax plus 6 percent or 7 percent (depending upon the 
type of utility) of the sum of the adjusted invested 
capital and the average borrowed capital for the 
taxable year, reduced by interest on borrowed capi- 
tal for the taxable year. An adjustment is made 
for inadmissible assets. 

Minimum credit 

The 1939 Code provides a minimum excess profits 
credit of $25,000. When the amount of the credit com- 
puted under either of the above methods, plus the unused 
excess profits credit adjustment, is less than $25,000, the 
credit may be raised to this amount. 



Table A.— NUMBER OF RETURNS, NET mCOME OR DEFICIT, AND TAXES— FISCAL VEAR RETURNS, BY MONTH IN WHICH FISCAL YEAR ENDED 





Total 

number 

of 

returns 


Returns with net income 


Returns with no 
net income 


Fiscal year ending 


Number 

of 
returns 


Net 
income 

(Thousand 
dollars} 


Income 
tax 

C TTiousand 
dollBra) 


Excess 

profits 

tax 

C Thotiaand 
dallars) 


Number 

of 
returns 


Deficit 

(Ttmuaand 
dollart) 




(1) 


(2) 


(3) 


(4) 


(5) 


(6) 


(7) 




18,726 
20,463 
27,922 
20,853 
15,481 

19,575 
17,134 
29,894 
22,866 
20,647 
43,166 


12,609 
13,196 
18,943 
13,985 
10,707 

13,380 
11,161 
19,649 
15,026 
13,454 
29,491 


553,231 
590,615 
990,803 
968,520 
787,886 

1,071,303 
407,625 
712,232 
528,353 
495,542 

1,395,374 


247,744 
264,384 
430,693 
433,506 
356,569 

509,260 

175,637 
303,224 
222,157 
224,257 
613,331 


26,325 
21,016 
43,306 
32,482 
42,^62 

23,747 
11,567 
25,638 
18,005 
17,353 
57,405 


6,117 
7,267 
3,979 
6,868 
4,774 

6,195 

5,973 

10,245 

7,840 

7,193 

13,675 




August 1952 




September 1952 


94 132 


October 1952 




November 1952 


62 367 


January 1953 


56 425 






March 1953 




April 1953 


56,658 


May 1953 




June 1953 


133,323 






Total 


256,727 


171,601 


3,501,939 


3,730,762 


330,256 


35,126 


818,392 







NOTE: See p. 24 for "E)Cplanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data. 



14 CORPORATION INCOME TAX RETURNS FOR 1952 

Table B.— NUMBER OF RETURNS AND NET INCOME OR DEFICIT— FISCAL YEAR RETURNS, BY MAJOR INDUSTRIAL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED 



PART I.— RETURNS WITH NET INCCME 



Major industrial groups 



Number 

of 

returns 



Net Income 



( Thousand 
dollars) 



Fiscal year ending — 



July 1952 



Number 

of 

returns 



(Thousand 
dollars} 



A»JgUSt 1952 



Number 

of 

returns 



( Thousand 
dollars) 



September 1952 



Number 

of 

returns 



dollars 



October 1952 



Number 

of 
returns 



(Thousand 
dollars) 



November 1952 



Number 

of 

returns 



( Thousand 
dollars) 



(1) 



(2) 



(3) 



(4) 



(5) 



(6) 



(7) 



(8) 



(9) 



(10) 



(11) 



(12) 



All industrial groups 

Agriculture, forestry, and fishery 

Farms and agricultural services 

Forestry 

Fishery 

Mining and quarrying 

Metal mining 

Anthracite mining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production 

Nonmetallic mining and quarrying 

Construction 

Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Textile-mill products 

Apparel and products made from fabrics 

Lumber and wood products, except furniture 

Furniture and fixtures 

Paper and allied products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleum and coal products 

Rubber products 

Leather and products 

Stone , clay, and glass products 

Primary metal Industries 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation eqmpment and 
electrical. 

Electrical machinery and equipment 

Transportation equipment, except motor vehicles 
Motor vehicles and equipment, except electrical. 

Ordnance and accessories 

Scientific instruments; photographic equipment; 
watches, clocks. 
Other manufacturing 

Public utilities 

Transportation 

Communication 

Electric and gas utilities 

Other public utilities 

Trade 

Wholesale 

Commission merchants 

Other wholesalers 

Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings 

Automotive dealers and filling stations 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 

Trade not allocable 

Finance, Insurunce, real estate, and lessors of 
real property. 

Finance 

Banks and trust companies 

Credit agencies other than banks 

Holding and other Investment companies 

Security and connodity-exchange brokers and 
dealers . 

Insurance carriers and agents 

Insurance carriers 

Insurance agents and brokers 

Real estate, except lessors of real property 
other than buildings. 
Lessors of real propei-ty, except buildings 

Services 

Ikitels and other lodging places 

Personal services 

Business services 

Automotive repair services and garages 

Miscellaneous repair services, hand trades 

Motion pictures 

Amusement, except motion pictures 

Other services, including schools 

Nature of business not allocable 



2,330 

2,224 
39 
67 

1,726 

20 

31 

216 

985 

474 

8,475 

35,214 

771 

3,095 

33 

1,821 

4,705 

1,753 
1,569 

782 
3,518 
1,877 

155 

209 

1,054 

940 

791 

3,377 

3,463 



1,123 

425 

317 

18 

536 

2,882 

4,617 
3,958 

459 
51 

149 

65,479 

23,533 

2,677 

20,856 

36,806 
2,581 
2,265 
7,147 
3,554 

5,155 
1,600 
3,071 
4,187 
7,246 

5,140 
38,959 

6,047 

558 

3,990 

1,158 
341 



1,754 

55 

1,699 

30,576 

582 

14,389 
1,533 
2,805 
3,639 
1,419 

793 
1,501 
1,372 
1,327 

412 



8,501,989 

68,660 

65,047 

2,720 

893 

128,034 
2,274 
735 
15,565 
87,898 
21,512 

238,233 

4,663,658 
150,142 
515,853 
23,190 
287,427 
121,505 

109,728 
88,967 
239,322 
138,732 
428,919 
65,873 

105,673 

89,122 

79,179 

248,514 

316,708 

805,464 

213,871 
249,007 
168,152 

6,197 
53,310 

158,803 

158,227 

106,470 

16,452 

32,177 

3,128 

2,239,796 

773,163 
66,973 
706,190 

1,384,456 
183,783 
743,693 
120,546 
48,114 

90,453 
26,267 
28,968 
63,623 
79,009 

82,177 
713,917 



360,215 
27,317 
109,488 
210,899 
12,511 

16,531 
1,681 
14,850 

327,548 

9,623 

285,562 
46,231 
30,883 
55,549 
18,425 

8,762 
60,736 
45,497 
19,479 

5,852 



12,609 

167 
166 



1 

211 

12 
29 
143 

27 

342 

2,500 

39 

207 

1 

141 

420 

142 
67 
44 
278 
156 
4 

31 
58 
80 
97 
178 



512 

476 

22 

1 

13 

5,327 

1,490 

227 

1,263 

3,450 
195 
172 

1,330 
325 

313 
132 
173 
229 
531 

387 
2,597 



231 
68 
10 

135 
21 
114 

2,097 

52 

932 
80 
154 
289 
110 

47 
79 
86 
87 



4,129 

4,043 

86 
9,775 

134 
1,984 
7,203 

454 

8,241 

347,492 
55,651 
68,538 
135 
8,765 
14,730 

6,339 
2,954 
9,683 
9,352 
10,968 
232 

2,929 
4,169 

1,675 
16,378 
32,655 

45,701 

15,126 
13,158 
9,868 
1,315 
7,618 

9,553 

13,440 

9,123 

2,355 

1,461 

501 

126,524 

49,633 

4,933 

44,705 

72,003 
2,652 
25,847 
19,558 
4,382 

5,771 
695 
4,310 
2,722 
6,071 

4,873 
29,985 



10,176 

87 

2,817 

6,480 

792 

929 
25 

904 



779 

13,035 

3,274 

1,716 

2,343 

640 

758 
1,266 
1,630 
1,408 

610 



296 

283 

2 



2,481 

36 

180 

168 
238 

147 
49 
87 
304 
142 
11 

28 
26 
40 
63 
238 



268 
228 

14 

8 

18 

5,243 

1,892 

212 

1,580 

2,856 
166 
103 
511 
346 

532 
140 
315 
239 
504 

495 
2,960 

404 
42 

257 

99 

6 

171 

1 

170 

2,322 

63 

1,240 
104 
199 
247 
96 

79 
197 
120 
198 



5,720 

5,550 

127 

43 

20,762 
139 
72 
799 

19,582 
170 

11,695 

345,643 

29,176 
27,683 

45,852 
5,283 
4,911 
2,643 
16,287 
11,573 
39,624 
4,946 

4,468 
2,291 

3,575 
20,224 
13,417 

45,360 



10,438 

5,199 

44,574 

3,158 

4,961 

19,625 
2,994 

700 
15,423 

508 

98,455 

57,321 
5,192 
52,129 

36,880 
4,450 
1,488 
4,282 
5,506 

7,071 
1,205 
2,667 
3,671 
6,540 

4,254 
40,530 



18,676 

741 

4,751 

13,058 

126 

1,046 

66 

980 

20,127 

681 

47,891 
2,470 
6,311 
4,321 
1,947 

1,251 

27,082 

3,323 

1,186 

294 



18,943 

143 

141 



149 
2 



4,225 

261 
420 
5 
265 
354 

171 
169 
104 
468 
228 
26 

27 
106 

83 
148 
353 



104 
50 



544 

447 

55 

18 

23 

6,636 

2,400 

275 

2,125 

3,748 
314 
61 
317 
343 

916 
211 
299 
499 
788 

488 
4,322 

913 
69 
610 
172 
62 

191 

1 
190 



56 

1,907 
243 
319 
525 

208 

98 
186 
142 
186 



4,166 
4,133 



6,965 
121 

1,271 
4,259 
1,314 

22,665 

617,124 

14,156 

68,113 

260 

42,520 

6,474 

7,570 
6,224 
13,822 
24,328 
30,483 
15,567 

13,579 
2,208 
8,296 
25,017 
38,119 

97,537 



30,816 
102,016 
45,855 



16,719 

20,308 
6,955 
1,519 

10,930 
904 

150,393 

87,511 
13,968 
73,543 

.56,837 

7,231 

974 

1,522 

3,984 

14,389 

12,104 
5,072 
5,165 
5,396 

6,545 
133,585 

87,937 

1,744 

34,723 

49,067 

2,403 

1,547 

11 

1,536 

43,231 

870 
34,691 
6,943 
4,455 
8,448 
3,806 

739 
3,631 
3,994 
2,675 

406 



13,985 

143 

130 

2 



128 
5 



71 
616 

2,339 

72 

287 

8 

104 

327 

187 
99 
47 

362 

137 



55 
328 



358 

280 

72 

5 

1 

4,939 

1,885 

256 

1,629 

2,691 

147 
45 
257 
273 

538 
135 
257 
756 
233 
413 
3,567 

559 
25 
391 
128 
15 

130 

2 

128 



48 

1,312 
120 
344 
342 
87 

113 
118 
63 
120 



5,494 
5,275 

111 
108 

5,900 



166 
2,812 
2,914 

38,184 

658,413 
4,163 
30,386 
337 
32,723 
12,089 

10,910 
4,992 

47,077 
5,505 

34,121 
3,457 

60,918 
25,113 
8,589 
19,936 
30,145 

276,048 

23,798 

6,950 

5,630 

463 

1,115 

7,942 

10,463 

7,888 

790 

1,769 

16 

130,668 

85,323 
4,022 
81,301 

39,945 
6,719 
586 
2,576 
2,161 

10,605 
515 

1,726 
13,025 

2,029 

5,400 
90,248 



59,621 

1,780 

17,019 

40,381 

441 

1,461 

165 

1,296 



1,328 

28,654 
3,784 
2,391 
5,054 
1,451 

1,405 
10,514 
2,830 
1,225 
496 



125 

123 
1 



2,689 
103 
182 

14i 

411 

119 
155 

71 

157 

215 

7 

13 

193 

93 

37 

200 



106 
30 
26 



228 
135 

66 
5 

21 

3,867 

1,490 

149 

1,341 

1,917 

150 
48 

159 
93 

281 
61 
245 
613 
267 

460 
2,499 

377 

17 

206 

110 



193 

11 

182 

1,897 

32 

788 
113 
238 
184 
51 

33 
87 
44 
38 

2 



787, 8i 

2,436 

2,253 

51 

132 

14,826 

957 

12 

663 

9,981 

3,213 

8,725 

562,313 
20,607 
17,878 

52,966 
25,107 

11,110 
24,597 
23,493 

5,400 
41,548 

3,809 

5,652 
31,644 

6,961 
35,960 
51,149 

104,835 



17,192 
55,635 

8,673 
798 

3,491 

13,703 

9,650 
3,734 
4,457 
1,376 
83 
106,297 

70,938 
9,324 
61,614 

26,544 
2,707 

902 
1,328 

541 

3,723 

154 

1,757 

12,313 

3,219 

8,715 
54,551 

41,275 
5,102 
5,952 

29,360 
852 

1,386 
490 
896 

21,088 

801 

16,308 
1,470 
1,416 
2,778 
394 

257 
1,756 
7,407 

820 

2,780 



See footnote at end of table. See p. 24 for "Explanation of Terras" and p. 23 for "Description of the Sample and Limitations of Data." 



CORPORATION INCOME TAX RETURNS FOR 1952 



15 



Table B.— NUMBER OF RETURNS AND NET INCOME OR DEFICIT-FISCAL YEAR RETURNS, BY MAJOR INDUSTRIAL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED— ContiQued 

PART I.— RETURtlS WITH NET INCCME— Cont inued 



Major industrial groups 



Number 

of 
returns 



Fiscal year ending — Continue 



January 1953 



( Thousand 
rial tars) 



Number 
of 

returns 



February 1953 



f Thousand 
dollars) 



Number 

of 

returns 



( Thousand 
dollars) 



Number 

of 

returns 



April 1953 



(Thousand 
dollars) 



Number 

of 

returns 



May 1953 



f Thousand 
dollars) 



Number 

of 

returns 



Net income 



( Thousand 
dollars) 



(13) 



(14) 



115) 



(16) 



(17) 



(18) 



(19) 



(20) 



(21) 



122) 



(23) 



(24) 



All industrial groups. 



Agriculture, forestry, and fishery. 
Farms and agricultural services.. 

Forestry 

Fishery 



Mining and quarrying 

Metal mining 

Anthracite mining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production. 
Nonmetallic mining and quarrying 



Construction 

Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Te3rtlle-raill products 

Apparel and products made from fabrics 

Lumber and wood products, except furniture 

Furniture and fixtures 

Paper and allied products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleum and coal products 

Rubber products 

Leather and products 

Stone, clay, and glass products 

Primary metal industries 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation equipment and 
electrical. 

Electrical machinery and equipment 

Transportation equipment, except motor vehicles. 
Motor vehicles and equipment, except electrical. 

Ordnance and accessories 

Scientific instruments; photographic equipment; 

watches, cloc'^s. 
Other manufacturing 



Public utilities 

Transportation 

Communication 

Electric and gas utilities. 
Other public utilities 

Trade 



Wholesale 

Commission merchants. 
Other wholesalers .... 



Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings. 



Automotive dealers and filling stations. 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 



Trade not allocable 

Finance, insurance, real estate, and lessors of 
real property. 

Finance 

Banks and trust companies 

Credit agencies other than banks 

Holding and other investment companies 

Security and commodity-exchange brokers and 
dealers. 

Insurance carriers and agents 

Insurance carriers 

Insurance agents and brokers 

Real estate, except lessors of real property 

other than buildings. 
Lessors of real property, except buildings.... 

Services 

Hotels and other lodging places 

Personal services 

Business services 

Automotive repair services and garages 

Miscellaneous repair services, hand trades.... 

Ktotion pictures 

Amusement, except motion pictur.es 

Other services, including schools 



13,380 
85 



1,919 

26 

83 

1 

108 

400 

86 
112 

33 
109 

98 

14 

5 
58 
53 

10 
154 



"^7 Nature of business not allocable. 



193 
178 
12 

3 

7,392 

1,476 

160 

1,316 

5,623 

179 

1,203 

2,386 

50O 

263 
137 
70 
315 
570 

293 

2,361 

293 
13 

186 
90 



41 
2,003 



765 
65 
102 
275 
122 



1,071,303 

3,032 

2,300 

732 



2,243 
9 

82 

1,814 

338 

19,576 

115,234 

829 

7,216 

26 

7,232 

10,441 

3,939 

3,735 
1,384 
6,673 
3,051 
2,050 

825 

1,456 

8,369 

1,155 

11,979 

15,246 



3,922 

553 

1,131 

5,855 



3,622 

2,980 

262 



872,581 

50,352 

1,772 

48,580 

814,956 
5,154 

705,347 
70,924 
9,593 
8,192 
2,159 
1,061 
4,408 
7,118 

7,273 
42,283 



13,953 
262 

5,085 

7,942 

664 



528 
26,499 

1,303 

12,259 
2,011 
1,246 
3,695 
1,714 

474 
1,079 
1,566 

474 

473 



11,161 

124 

113 

11 



2,176 

38 

194 

110 
243 

132 
98 
49 

158 
79 
(M 

(M 

63 

110 

35 

202 



133 
29 

29 

1 



295 
235 
44 



(') 
4,522 
1,685 
169 
1,516 

2,516 

160 

53 

467 

264 

294 
124 
233 
337 
584 

321 

2,436 

313 
14 

237 
22 



81 
2,026 



803 

59 

193 

220 

73 



407,625 

2,788 

2,707 

81 

3,351 

24 

70 

2,063 

1,194 

15,637 

167,161 

2,028 

40,094 

4,226 

2,183 

8,469 
1,676 
3,534 
9,945 
5,411 
(M 

(M 
1,670 
3,278 
2,590 
10,156 

28,364 

11,489 
3,023 
2,285 
1,519 
1,173 

16,640 

8,605 

8,020 

540 

45 

(M 

156,041 

42,546 
4,346 
38,200 

109,093 

82,497 

1,813 

4,029 

4,249 

4,529 

749 

1,442 

4,607 
5,178 

4,402 

38,626 



16,308 

1C2 

2,147 

13,907 
152 



749 
20,865 

6S4 
15,271 
1,510 
1,452 
3,479 
911 

736 
1,339 
2,536 
3,308 



19,649 
214 

198 
6 
(') 

262 
2 
11 

38 

172 

39 



3,989 

80 
445 

11 
178 
471 

178 
213 

37 
420 
133 

23 



112 
63 
478 



122 
23 



497 

482 

12 



2,639 
279 

2,360 

3,520 

348 
147 
402 
353 
574 
125 
423 
286 
862 

505 
4,288 



424 
111 



145 



138 

1 

137 



1,988 
130 
47" 
431 
137 

136 
289 

217 

170 



712,232 

6,664 

5,744 

880 

(') 

19,407 

208 

229 

3,428 

11,137 

4,405 

50,198 

377,853 

5,862 

88,003 

21,951 

18,200 

6,922 

16,798 
7,583 

24,722 

16,294 
6,413 

10,664 

946 

4,541 

7,929 

6,549 

16,137 

50,478 

30,402 

3,009 

4,381 

149 

14,279 

15,136 

9,838 

8,694 

782 

308 

54 



73,750 
4,749 
69,001 

71,769 
32,638 

1,208 
3,958 
4,247 

9,549 
2,273 
2,222 
4,191 
11,483 

9,841 

60,038 



25,483 
2,641 

7,685 
14,120 
1,037 

1,387 

23 

1,364 

31,470 

1,698 

32,766 

3,510 
3,688 
7,433 
1,9C6 

1,093 
5,297 
7,912 
1,922 

108 



15,026 
202 
202 



2,832 
47 
309 
2 
148 
390 

132 
133 
43 
367 
100 
9 



383 
342 



24 

5,151 

1,825 

258 

1,567 

2,883 

274 

55 

272 

243 

433 
137 
312 
232 
875 

443 

4,142 

585 

28 

423 

118 
16 



134 

3,374 

49 

1,299 
161 
291 
286 

107 

(') 
113 
208 
93 



56 



528,358 
6,184 
6,184 



6,407 
87 
18 
3,058 
1,987 
1,257 

20,241 

281,841 

12,531 

23,092 

122 

6,732 

7,159 

14,072 
8,595 
69,223 
11,504 
7,329 
2,521 

2,493 
2,747 

11,331 
9,171 

14,660 

31,342 



12,274 

22,856 

1,931 



6,76? 

11,659 

10,330 

463 

510 

356 

102,506 

50,566 

4,156 
46,410 

41,904 
14,642 

411 
1,065 
1,134 

6,620 
1,578 
2,393 
3,510 
10,546 

10,036 

69,476 



25,129 
1,194 
7,863 

15,523 
544 



1,274 

42,532 

541 

29,730 

11,348 

3,522 

3,801 

1,683 

(') 
1,090 
5,973 
1,457 

314 



13,454 

290 

272 

5 

13 

86 
2 

1 



532 

2,689 

9 

263 

2 

138 
530 

102 
92 
41 
241 
191 
3 



58 
103 

70 
255 



223 

437 

376 

50 

1 

(M 

4,666 

2,142 
303 

1,839 

2,089 

251 

89 

187 

204 

263 
122 
263 
177 
533 

435 

3,560 



393 
15 

313 
35 
30 



126 
2,998 

43 
1,184 
188 
168 
270 
59 

113 
150 
155 
81 



495,542 

7,080 

6,541 

396 

143 

9,311 

406 

64 

572 

6,353 

1,416 

11,815 

304,639 

1,253 

64,484 

72 

11,185 

7,725 

3,120 
4,987 

11,499 
9,937 

97,354 
742 

476 

3,790 

3,676 

17,663 

11,359 

20,886 

22,779 
1,719 
2,439 

207 
1,185 

6,102 

14,780 

13,883 

856 

20 

94,231 

59,592 
4,460 
55,132 

27,446 

3,498 

1,202 

763 

2,743 

6,107 
1,193 
2,394 
3,585 
5,861 

7,193 

37,340 



8,346 
592 

2,712 
4,853 

189 

1,190 

1,190 
27,282 

522 

16,337 

3,743 

2,168 

3,682 

500 

783 
2,282 
2,515 

564 



29,491 

541 

522 

1 

18 

419 

1 

3 

51 

253 

111 

1,265 

6,875 

60 

525 

3 

317 
911 

357 
382 
176 
654 
397 
11 

33 
2C4 
160 
166 
748 



237 

80 



9 

102 



902 
779 

96 
2 

25 

11,022 

4,6C9 

339 

4,220 

5,513 
397 
289 
859 
510 

698 
276 
481 
504 
1,399 

90C 

6,22" 



1,242 
275 
712 

2C5 



414 
18 
396 



112 

2,171 
240 
319 
570 
369 

61 
130 
217 
265 



1,395,874 

20,967 

20,317 

342 

303 

29,087 

339 

232 

3,472 

20,207 

4,337 

31,306 

885,945 

3,886 

30,366 

287 

57,021 

23,392 

22,49C 
20,976 
18,598 
27,221 

152,517 
16,139 

6,675 

9,493 

15,5CC 

93,871 

36,932 

89,157 

35,635 

34,389 

40,385 

1,'^45 

5,101 

43,108 

36,237 

31,869 

3,723 

335 

305 

246,240 

145,626 

1C,C51 

135,575 

S5,974 
20,595 
• 3,915 
10,541 
9,574 

13,896 
3,641 
3,919 
6,325 

14,558 

13,640 
107,255 



53,310 
13,072 
18,734 
16,2C3 
5,301 

5,034 

901 

4,133 



416 

38,620 
6,168 
2,518 

10,515 
3,373 

405 
5,390 
5,811 
4,440 

;i~ 



See footnote at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data. 



16 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table B.— NUMBER OF RETURNS AND NET INCOME OR DEFICIT— FISCAL YEAR RETURNS, BY MAJOR INDUSTRIAL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED— Continued 

PART II.— RETURNS WITH NO NET INCCME 



Major industrial groups 



Total 



Number 

of 

returns 



( Thousand 
dollars) 



Fiscal year ending- 



July 1952 



( Thottaand 
dollars) 



August 1952 



Number 

of 

returns 



( Thousand 
dollars) 



September 1952 



Number 

of 

returns 



( Thousand 
dollars) 



October 1952 



Number 

of 

returns 



(Thousand 
dollars) 



November 1952 



Number 

of 

returns 



(Thousand 
dollars) 



(1) 



(2) 



(3) 



(i) 



(5) 



(6) 



(7) 



(8) 



(9) 



(10) 



(11) 



(12) 



All industrial groups 

Apiculture, forestry, and fishery 

Farms and agricultural services 

Forestry 

Fishery 

Mining and quarrying 

Metal mining 

Anthracite mining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production 

Nonmetallic mining and quarrying 

Construction 

Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Textile-mill products 

Apparel and products made from fabrics 

Lumber and wood products, except furniture 

Furniture and f ixtures 

Paper and allied products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleum and coal products 

Rubber products 

Leather and products 

Stone, clay, and glass products 

Primary metal industries 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation equipment and 
electrical. 

Electrical machinery and equipment 

Jransportation equipment, except motor vehicles. 
Motor vehicles and equipment, except electrical. 

Ordnance and accessories 

Scientific instruments; photographic equipment; 
watches, clocks. 
Other manufacturing 

Public utilities 

Transportation 

Communication 

Electric and gas utilities 

Other public utilities 

Trade 

Wholesale 

Commission merchants 

Other wholesalers 

Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings 

Automotive dealers and filling stations 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 

Trade not allocable 

Finance, insurance, real estate, and lessors of 
real property. 

Finance 

Banks and trust companies 

Credit agencies other than banks 

Itolding and other investment companies 

Security and commodity-exchange brokers and 
dealers . 

Insurance carriers and agents 

Instirance carriers 

Insurance agents and brokers 

Real estate, except lessors of real property 
other than buildings. 
Lessors of real property, except buildings 

Services 

Hotels and other lodging places 

Personal services 

Business services 

Automotive repair services and garages 

Miscellaneous repair services, hand trades 

Ifotion pictures 

Amusement, except motion pictures 

Other services, including schools 

Nature of business not allocable 



85,126 

1,530 
1,416 

1 
113 

1,379 

88 

i3 

281 

733 

234 

4,374 

16,233 

389 

1,393 

887 
3,368 

910 

732 

304 

1,122 

1,052 

66 

67 
372 
378 
212 
961 

1,093 



571 
183 
159 
26 

286 

1,702 

2,411 

2,045 

208 

21 
137 

30,950 

9,989 
1,487 
8,502 

18;364 

1,424 

918 

3,428 

1,853 

2,413 

603 

3,289 

1,297 

3,139 

2,597 
16,765 

2,906 

83 

2,097 

469 

257 



542 

6 

536 

12,885 

432 

9,851 
1,223 
1,825 
1,941 

797 

468 
1,076 
1,434 
1,087 

1,633 



818,392 

30,577 

29,097 

21 

1,459 

41,187 

2,976 

967 

5,881 

29,299 
2,064 

41,828 

335,115 
13,756 
52,975 



37,369 
33,769 

22,106 
10,637 
6,564 
8,660 
30,858 
3,893 

2,250 
6,518 
6,886 
4,892 
13,303 

20,689 

16,902 

9,248 

6,948 

246 

3,466 

18,180 

23,894 

21,175 

1,223 

631 

865 

211,980 

84, 343 

8,162 

76,181 

113,895 

7,909 

9,713 

19,230 

15,000 

16,219 
4,518 

13,453 
8,790 

19,063 

13,742 

78,120 



11,833 

481 

6,992 

1,035 

3,325 

1,049 
101 
948 

63,098 

2,140 
53,802 
8,933 
6,755 
8,965 
2,392 

1,824 
8,764 

8,703 
7,466 

1,889 



6,117 

138 
113 



.24 
42 
(M 

308 
1,186 
(M 
108 

(1) ' 
290 

57 
85 
21 
85 
78 
2 

2 
26 
22 
21 
55 



22 

12 

1 

23 

163 

152 

120 

21 

1 

(') 

2,493 

730 

83 

647 

1,597 

50 

118 

472 

27 

325 

60 

266 

<') 

239 

166 



110 

(M 



(M 

30 
824 

22 
626 

38 
126 
203 

(M 
{') 

23 
91 
95 



2,565 
2,346 



2,868 
513 

429 
1,551 
(') 



21,628 

(M 

1,010 

(M 

1,798 

2,475 
787 
89 
807 
707 
109 

368 
134 
143 
361 

987 



4,081 

18 

237 

1,839 

1,456 

1,299 

130 

26 

(M 

17,552 

6,842 

236 

6,606 

9,471 
301 
813 

3,630 
331 

1,954 
152 

1,004 

1,243 
1,239 
4,707 



(') 



(M 

31 
3,939 

29 

3,678 
474 

155 
1,271 
(') 

(1) 
325 
398 
915 

53 



7,267 

69 
59 

(') ' 
122 
(M 

45 
46 
21 



1,569 
22 
153 

81 
256 

91 

41 

32 

121 

117 



(') 
50 

114 



(M 
(M 



(1) 



161 

147 

11 

2 

1 

2,563 

829 
105 
724 

1,532 

162 
45 
330 
128 

191 
70 

218 
90 

298 

202 
1,345 

215 

134 
41 
(') 

32 

32 
1,077 

21 
1,036 

64 
230 
152 
115 

60 
161 
132 
122 



68,561 

1,378 
1,310 

(M ' 
6,907 
(') 



807 

5,598 

305 



27,325 
1,185 
1,844 

3,342 
2,995 

1,720 
519 
306 
334 

2,790 
34 



1,081 

(M 

606 
1,642 



1,813 
(M 

(M 

51 
(M 

955 

906 
673 
200 
26 
7 

16,517 

7,207 

889 

6,318 

8,372 
577 
142 

1,097 



1,348 
268 

1,198 
511 

2,243 
938 

7,150 

400 

309 
89 

(') 

33 

33 
6,225 

492 
6,587 
1,335 
643 
889 
264 

55 
1,830 

448 
1,123 

190 



8,979 

135 
114 
1 
(M 

98 

2 

1 

21 

54 

(1) 

369 

1,768 
91 
155 

101 
263 

95 
93 
39 

194 

120 

2 



240 
186 
32 



3,175 

951 

108 
843 

2,031 

216 

60 

264 

192 

245 

50 

434 

156 

414 

193 
1,743 

192 
11 

120 
36 
25 



42 
1,451 

58 

1,300 
204 
304 
202 

103 

50 
175 
119 
143 



94,182 

2,365 

2,277 

21 

(M 

2,961 

391 

198 

223 

2,050 

(M 

4,809 

45,670 
3,087 
3,142 

6,892 
4,438 

3,101 

1,706 

1,246 

1,34S 

2,617 

552 

570 

820 

1,567 

909 

2,382 



3,702 
178 
934 



1,504 

1,982 

1,495 

179 

245 

62 

18,590 

7,493 

674 

6,819 

■ 10,116 

1,265 

357 

1,481 

1,508 

1,555 
535 

1,170 

726 

1,519 

1,081 

10,106 



2,632 

35 

676 

36 

1,885 



78 
6,948 

448 

7,060 

1,411 

1,120 

790 

377 

182 
1,448 
1,006 

726 

539 



1,265 

59 
137 

64 
226 

84 

52 

(M 

90 

53 

2 

1 

59 

42 

22 

69 



205 

172 

11 



2,435 

597 
132 
565 

1,540 

186 

51 

142 

128 

165 

70 
370 

97 
331 



166 

(') 

108 

46 

2 

(') 

(1) " 
1,017 

31 
1,047 
199 
160 
212 
91 

60 
131 
112 

82 



80,543 

2,575 
2,575 



2,636 

200 

686 

1,701 

49 

4,026 

37,490 

3,124 

15,276 

2,254 
3,044 

1,746 
827 
(■') 

1,175 
517 
363 
151 

1,554 

1,087 
647 
452 

1,841 



912 

158 

423 

23 



1,225 

2,440 

2,085 

1 



19,215 

7,843 

79 

7,764 

10,447 

1,441 

68 

543 

899 

1,201 
1,155 
1,415 
1,094 
2,631 
925 
5,952 

1,023 

(M 

897 

95 

20 

(M 

(') 

4,816 

75 

6,157 

1,132 

255 

429 

273 

210 
2,003 
1,487 

367 

152 



127 

7 

(') 

6 

98 

5 

156 

965 
17 
62 



(') 



(') 



104 
102 



608 
79 
529 

906 

126 

41 

80 

51 

145 

(M 

193 
119 
121 

177 

1,044 



101 
37 
28 



(') 
834 



499 
75 

115 
82 
41 

(M 
51 
22 
73 



62,867 
2,954 
2,634 



270 

2,707 

570 

(M 

261 

1,855 

U 

953 

32,743 

785 

1,298 

9,935 
7,040 

2,200 

1,8 
541 
461 

3,879 



70 

1,524 

115 

(') 

377 

890 



143 
124 
352 

(M 



619 
349 



13,535 

7,258 

237 

7,021 

5,380 
465 
179 
210 
710 

534 

(M 

587 

1,564 

659 

1,047 
5,380 



334 

79 

222 

81 
81 

(M 

4,411 

253 

3,613 
604 
588 
295 
98 

(M 

151 

366 

1,123 



See footnote at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



CORPORATION INCOME TAX RETURNS FOR 1952 



17 



T«ble B.— NUMBER OF RETURNS AND NET INCOME OR DEFICIT— FISCAL YEAR RETURNS, BY MAJOR INDUSTRUL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED— Continued 

PART II.— RETURNS *ITH NO NET INCCME— Continued 



Major industrial groups 



Fiscal year ending — Continuei 



January 1953 



Number 

cf 

returns 



( Thousand 
dollars) 



February 1953 



( Thousand 
dollars) 



( Thousand 
dollars) 



April 1953 



( Thousand 
dollars) 



yay 1953 



Number 

of 

returns 



(Thousand 
dollars) 



Number 

of 
returns 



(Thousand 
dollars) 



(13) 



fli) 



(16) 



(17) 



(18) 



(19) 



(20) 



(21) 



(22) 



(23) 



All industrial groups. 



Agriculture, forestry, and fishery. 
Farms and agricultural services.. 

Forestry 

Fishery 



Mining and quarrying 

Metal mining 

Anthracite mining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production. 
Nonmetallic mining and quarrying 



Construction 

Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Textile-mill products 

Apparel and products made from fabrics. 



Lumber and wood products, except furniture.. 

Furniture and fixtures 

Paper and allied products 

Printing, publishing, and allied industries. 

Chemicals and allied products 

Petroleum and coal products 



Rubber products 

Leather and products 

Stone, clay, and glass products 

Primary metal industries. . . .■ 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation equipment and 
electrical. 

Electrical machinery and equipment 

Transportation equipment, except motor vehicles. 
Motor vehicles and equipment, except electrical. 

Ordnance and accessories 

Scientific instruments; photographic equipment; 
watches, clocks. 
Other manufacturing 



Public utilities 

Transportat ion 

Communication 

Electric and gas utilities. 
Other public utilities 

Trade 



Wholesale 

Commission merchants. 
Other wholesalers. . . . 



Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings 



Automotive dealers and filling stations. 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 



real estate, and lessors of 



Trade not allocable. 

Finance, insurance, 
real property. 

Finance 

Banks and trust companies 

Credit agencies other than banks 

Holding and other investment companies 

Security and commodity-exchange brokers and 
dealers. 

Insurance carriers and agents 

Insurance carriers 

Insurance agents and brokers 

Real estate, except lessors of real property 
other than buildings. 
Lessors of real property, except buildings.... 

Services 

Hotels and other lodging places 

Personal services 

Business services 

Automotive repair services and garages 

Miscellaneous repair services, hand trades.,.. 

Motion pictures 

Amusement, except motion pictures 

Other services, including schools 



108 
103 



40 
l-i 
(') 
242 

1,038 

3 

47 

(') ' 
396 

56 
(') 



(') 



162 
142 



597 
106 
491 

2,191 

(M 

271 

1,053 

20O 

100 
(M 
140 
187 
170 

175 

1,077 

219 

(') 
152 
36 
21 



31 
796 



449 
33 



116 
(') 
(M 



(') 



56,425 

2,944 
2,755 

189 
1,135 

868 
263 

(M 

2,053 

14,633 

401 

1,409 

3,541 



(M 



598 
545 



114 
185 
196 
763 



821 
706 



(M 



2,454 
2,453 

(M 



4,033 

441 

3,592 

21,221 

(1) 

6,194 

7,710 

1,780 

897 
(M 

772 
1,887 
1,412 

916 
4,306 



(M 



157 
129 
113 



196 
3,704 



2,510 
233 

134 
405 
(') 



(1) 



(') 



758 
728 



5,973 
157 
147 

(') " 
49 
2 
(1) 



932 
28 
110 

45 

157 

83 
35 
1 
67 
54 

(') 
(') 



(M 



(») 



173 
142 
(^) 



702 

71 

631 

1,277 

101 

47 

264 

167 

202 
31 
236 
101 
128 

223 

1,276 



77 Nature of business not allocable. 



217 

51 
31 



50 
385 

42 
594 
63 
85 
133 

(M 
(') 

32 
111 
110 

150 



1,075 
1,053 

(M 

1,683 
3 
(1) 

1,135 
22 



14,776 

358 

2,347 

1,114 
1,968 

1,252 

408 

22 

695 

502 

(') 
(') 
131 
14 
1,181 

397 

2,901 
(1) 

30 



561 
384 
(M 

136 

13,902 

5,579 

242 

5,337 

7,468 
312 
285 
914 

1,854 

1,844 

96 

658 

866 

639 

855 

6,799 



759 
229 
163 



63 
5,546 

39 

3,901 
183 

1,146 
564 
(M 

(') 
212 
566 



166 
165 



239 
16 



(') 
91 
81 



2,073 

40 

202 

114 
364 

163 
117 

34 
146 
148 

22 

23 
43 
28 
146 



243 
252 

210 
(') 
1 
21 

3,378 

1,140 

216 
924 

1,913 

141 

82 

221 

253 

228 
90 
340 
173 
385 

325 

1,957 



299 

21 
27 



71 
1,492 

43 

1,210 
124 
242 
190 
101 

31 
164 
267 

91 



93,441 

5,108 
5,096 

12 

5,020 
316 
52 

3,035 
189 

7,679 

37,877 

1,021 

5,692 

3,351 
4,134 

4,539 

869 

708 

727 

1,743 

1,191 

355 

529 

333 

1,395 

1,321 

2,667 
3,449 



522 

2,271 

3,363 

3,234 
(M 

6 
70 

21,013 

8,055 
2,290 
5,765 

11,041 

656 

413 

705 

1,486 

1,330 
233 

1,914 
377 

3,377 

1,917 
7,194 

1,420 
148 
964 



144 
5,508 

122 
6,037 

453 

760 
1,329 

443 

148 

616 

1,597 

691 

150 



7,840 

190 
190 



127 
6 
1 
(') 

96 
(M 
417 

1,324 
25 

104 

91 
230 

" 68 

93 

5 

62 

106 



(») 



33 
2 

(M 



159 

291 

248 

1 

2 

(') 

2,627 

1,005 
171 
334 

1,396 

103 

66 

150 

134 

200 

(1) 

341 

82 

250 

226 

1,704 



413 
9 

321 
69 
14 



44 

1,014 
157 
162 
148 
96 

60 

84 

231 

76 



56,658 

4,047 
4,047 



1,303 
13 
184 
(') 

854 
(M 
2,291 

20,504 

829 

4,019 

2,763 
2,654 

1,376 

554 

376 

1,526 

1,052 

92 



(M 



407 
793 



1,234 



712 
18 



(M 
340 

1,235 

1,772 
1,633 

18 
(') 
13,709 

5,062 

467 

4,595 

7,762 
920 
483 
636 

1,136 

393 
(') 
1,933 

280 
1,402 

885 
7,849 

908 
235 
439 
78 
156 



108 
6,362 

471 

5,102 
1,113 

792 
1,653 

249 

159 
387 
517 
232 



7,193 

137 
117 



(M 
110 



2 

347 

,308 
32 
90 

35 
313 



24 
36 
(M 



206 
183 

21 
1 



1,001 
113 
333 

1,353 
57 

(1) 
161 
169 

132 
21 
332 

81 
310 

214 

1,658 

270 

1 

206 

43 

CM 



60 
1,295 

33 

712 

123 

90 

220 

(M 
(1) 

77 
96 



68,581 

1,941 
1,393 



(') 
7,600 



142 
7,331 



4,967 

25,008 

416 

10,284 

246 
2,688 

946 
508 
550 
234 
1,537 
191 

449 
140 
561 
397 
695 



620 
2,040 
(M 



714 

1,532 

1,414 

90 

21 



16,356 

7,597 

470 

7,127 

7,406 
415 
(M 
688 

1,502 

1,333 
836 
783 
454 

1,313 

1,353 
8,321 

790 

7 

408 

157 

(') 



28 
7,453 

50 

2,720 

784 

333 

505 

(') 

(M 
419 
434 
201 

136 



298 
277 



243 

37 

54 

100 

52 



2,805 
52 
225 

208 
602 

98 
132 

74 
155 
191 

19 

11 
32 
45 
25 

162 



79 
23 
11 
13 
42 

391 

465 
393 

41 
1 

(M 

4,805 

1,729 

303 

1,426 

2,628 
242 
97 
291 
354 

430 
131 
419 
171 
493 

448 

2,721 

505 

18 

365 

78 



125 

5 

120 

2,017 

74 

1,364 
138 
270 
283 

120 

77 
109 
163 
204 



(24) 



133,823 

3,625 
3,561 

64 

6,367 
773 

979 

3,376 

739 



57,461 
2,183 
6,654 

2,985 

4,419 

1,636 
2,590 
1,393 
755 
14,914 
1,361 

296 
309 

1,373 
446 

2,126 

4,914 

1,935 
457 
161 
154 

1,041 

4,354 

6,809 
6,101 
578 
18 
(M 
35,171 

17,374 
2,137 
15,237 

15,211 

1,423 

752 

1,566 

2,806 

3,130 
407 

2,014 
438 

2,625 

2,586 
10,356 



1,766 
43 

l,4i3 
141 
139 



249 
20 
229 



155 

6,437 

1,211 

828 

835 

470 

184 

615 

1,156 

1,138 



^Sample variability of this item is too large to warrant showing it separately. However, this value is included in each total. 
NOTE: See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



18 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table C— NUMBER OF RETURNS AND TOTAL ASSETS— FISCAL YEAR RETURNS WITH BALANCE SHEETS, BV MAJOR INDUSTRIAL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED 

PARI I.— RETDHNS WITH NET INCtME 



Major industrial groups 



Number 

of 
returns 



Total 
assets 



( Thousand 
dol lars) 



Fiscal year ending— 



July 1952 



Number 

of 
returns 



Total 

assets 

(Thousand 

dollars) 



August 1952 



Number 

of 
returns 



Total 

assets 

(Thousand 

dollars] 



September 1952 



Number 

of 
returns 



Total 
assets 

( Thousand 
dollars) 



October 1952 



Number 

of 
returns 



Total 
assets 

f Thousand 
dollars) 



November 1952 



Number 

of 
returns 



Total 
assets 

( Thousand 
dollars) 



(1) 



(2) 



(3) 



M 



(5) 



(6) 



(7) 



(8) 



(10) 



(11) 



(12) 



All industrial groups 

AgriculturCj forestry, and fishery 

Farms and agricultural services 

Forestry 

Fishery 

Mining and quarrying 

Metal mining 

Anthracite mining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production 

NonnKtallic mining and quarrying 

Construction 

Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Textile-mill products 

Apparel and products made from fabrics 

Lumber and wood products, except furniture 

Furniture and fixtures 

Paper and allied products 

Printing, publishing, and allied industries.... 

Chemicals and allied products 

Petroleum and coal products 

Rubber products 

Leather and products 

Stone, clay, and glass products 

Primary metal industries 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation equipment and 
electrical. 

Electrical machinery and equipment 

Transportation equipment, except motor vehicles. 
MDtor vehicles and equipment, except electrical 

Ordnance and accessories 

Scientific instruments; photographic equipment; 
watches, clocks. 
Other manufacturing 

Public utilities 

Transportation 

Communication 

Electric and gas utilities 

Other public utilities 

Trade 

Wholesale 

Commission merchants 

Other wholesalers 

Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings 

Autoiaotive dealers and filling stations 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 

Trade not allocable 

Finance, insurance, real estate, and lessors of 
real property. 

Finance 

Banlis and trust companies 

Credit agencies other than banks 

Holding and other Investment coii;)anles 

Security and comncdity-exchange brokers and 
dealers. 

Insurojice carriers and agents 

Insurance carriers 

Insurance agents and brokers 

Real estate, except lessors of real property 
other than buildings. 
Lessors of real property, except buildings 

Services 

Hotels and other lodging places 

Personal services 

Business services 

Autonotive repair services and garages 

Miscellaneous repair services, hand trades 

Motion pictures 

Ajnusement, except motion pictures 

Other services, including schools 

Nature of business not allocable 



2,256 

2,150 

39 

67 

1,699 

20 

31 

214 

961 

473 

8,357 

34,810 
750 
3,055 
33 
1,817 
4,656 

1,718 
1,566 

775 
3,492 
1,822 

142 

198 

1,054 

939 

731 

3,316 

3,434 



1,122 
421 

316 
18 
536 

2,349 

4,389 
3,791 

399 
50 

149 

63,656 
22,934 
2,615 
20,369 

35,972 
2,494 
2,224 
7,064 
3,477 

5,047 
1,516 
2,923 
4,152 
7,075 

4,700 

33,092 



5,806 

542 

3,848 

1,076 

340 

1,618 

34 

1,534 

30,037 

581 

13,986 
1,509 
2,768 
3,567 
1,398 

783 
1,474 
1,252 
1,235 

365 



88,051,517 

722,459 
683,676 
18,747 
15,036 

1,267,463 
47,411 
9,630 
246, 530 
758,257 
205,635 

2,361,137 

37,972,140 
1,338,981 
5,101,980 
255,168 
3,322,756 
1,497,361 

932,345 

644,293 

1,636,349 

1,076,299 

3,580,112 

577,679 

885,057 

918,079 

554,748 

1,827,973 

1,972,807 

5,342,051 



1,223,114 

1,946,587 

1,133,772 

43,343 

362,736 

1,198,550 

1,551,977 

963,181 

79,768 

470,338 

38,690 

23,305,351 

9,301,449 

753,437 

8,548,012 

13,057,194 

1,472,676 

6,147,094 

1,511,889 

734,920 

958,495 
267,467 
239,823 
728,612 
996,218 

946,708 

17,908,661 

10,701,677 
4,249,321 
3,311,550 
2,761,463 
379,343 

184,616 

19,075 

165,541 



108,528 

2,909,132 
636,206 
271,377 
442,332 
175,504 

51,210 
943,559 
258,677 
130,267 

53,197 



12,202 

166 
165 



1 
211 

12 
29 
143 
27 

342 

2,460 

39 

207 

1 

140 

420 

142 
67 
44 
278 
156 
4 

23 
58 
80 
87 
168 



512 
476 

22 
1 

13 

5,108 

1,469 

226 

1,243 

3,349 
185 
161 

1,330 
315 

300 
111 
153 
227 
567 



2,492 

275 

4 

203 

53 

(M 

104 

1 

103 



890 

69 

152 

278 
110 

47 
61 
86 
37 

21 



5,435,755 

43,269 
47,692 



577 
84,643 

1,579 
30,330 
45,216 

7,518 

95,793 

2,183,390 

438,221 

343,611 

1,928 

93,345 

134,286 

33,736 
25,414 
39,623 
54,839 
86,811 
3,307 

11,247 
25,447 
13,840 
67,295 
257,253 

210,242 



97,293 
30,026 
43,166 
7,145 
40,198 

60,567 

137,546 
95,095 
10,194 
25,039 
7,213 

1,742,635 

300,720 
44,467 
756,253 

397,054 

23,935 

364,492 

261,982 

55,311 

52,781 
7,530 
32,067 
28,615 
65,341 

44,361 

1,013,388 

601,967 

417,348 

77,971 

35,156 

(') 



10,147 
1,100 
9,047 



12,662 

122,492 

44,558 

13,649 

23,150 

6,833 

3,916 
13,029 
10,171 

7,186 

1,599 



296 

233 

2 

11 

78 

1 

1 

16 

54 



2,464 
36 

180 

163 
237 

147 
49 
85 

303 

142 

(1) 

28 

26 

(M 

63 

238 

349 

91 
31 
26 



252 

213 

14 



5,085 

1,828 

212 

1,616 

2,794 
166 
91 
511 
336 

531 
129 
305 
234 
491 

463 

2,935 

391 
42 

246 
97 



159 

1 
158 



63 

1,209 

104 

193 

236 

87 

79 
197 
120 
188 



59,575 

58,140 

971 

464 

129,260 

2,835 

978 

17,826 

105,604 

2,017 

113,096 

2,842,301 
453,316 
321,460 

387,384 
60,956 

69,929 
20,608 

141,983 
82,344 

346,439 

26,679 
17,912 
(1) 
107,628 
94,211 

220,702 



66, 656 
24,265 
299,897 

22,561 

39,527 
291,401 
23,496 
4,353 
254,019 
9,533 



987, 567 

81,821 

905,746 

413,127 
33,416 
12,776 
54,354 
69,176 

84,466 
22,844 
22,128 
40,452 
73,515 

51,754 

885,109 

374, 506 

68,168 

140,709 

161,934 

3,695 

11,590 
1,737 
9,853 



5,883 

749,849 
42,502 
38,931 
34,534 
14,202 

5,345 
579,552 
23,053 
11,680 

1,225 



131 
129 



149 
2 

49 
73 
25 



.,158 
261 
407 
5 
265 
354 

170 
169 
104 
463 
196 
25 

27 
106 

83 
14S 
353 



104 
49 
46 



513 

416 

56 

13 

23 



2,390 

265 

2,125 

3,665 

310 

60 

317 

342 

916 
199 
279 
496 
746 



4,293 

390 

69 

591 

169 

61 

190 

1 

189 



56 

1,364 
242 
309 
525 

203 

93 
185 
131 
166 



41,405 
40,827 



91,019 
1,549 

13,010 
66,160 
10,300 

220,594 

5,059,648 
143,161 
519,427 
2,225 
689,449 
34,014 

72,325 
46,644 
100,527 
195,954 
260,323 
173,354 

84,736 
29,265 
73,976 
166,655 
196,673 

535,605 



191,135 
876,039 
406,192 



124,602 

226,816 

65,156 

9,045 

143,666 

3,949 

1,490,616 

327,539 
129,901 
697,688 

599,369 

73,546 

9,751 

25,127 

50,115 

157,595 

105,569 

40,836 

63,321 

73,509 

63,653 

2,612,906 



1,686,211 

166,887 

794,105 

686, 066 

39,153 

20,539 

505 

20,034 

894,893 

11,263 

325,681 
95,738 
44,240 
54,965 
38,748 

4,276 
38,421 
31,027 
13,266 

7,002 



143 

130 

2 

11 

126 
5 

2 

49 
70 



2,782 
61 
279 
8 
102 
327 



47 
361 
128 

17 

3 

133 

49 

55 

318 



306 

268 

32 

5 



1,766 

246 

1,520 

2,576 
147 
44 
226 
263 

511 
135 
247 
752 
251 



513 

381 

97 
15 

119 
1 

118 



48 

1,291 

120 

343 

342 

37 

113 

118 

58 

110 



10,035,328 

55,282 

53,415 

857 

1,010 

94,538 
2,265 

830 
65,166 
26,327 

322,193 

6,313,912 

36,450 

305,547 

3,604 

441,096 

149,410 

89,993 

35,539 
315,989 

49,340 
253,639 

73,963 

535,700 
243,133 
83,336 
140,537 
206,090 

2,541,024 

120,147 

52,042 

34,154 

1,281 

15,648 

76,100 

123,133 

92,108 

3,175 

27,206 

644 

1,182,125 

695,464 
37,639 
657,825 

433,055 
49,295 
10,760 
32,188 
39,473 

100,800 
9,447 

14,205 
144,933 

31,904 

53,606 
1,669,313 

1,111,758 

(') 
377,946 
516, 577 

44,103 



17,064 

5,077 

11,987 

530,810 

9,631 

271,763 
61,209 
23,632 
37,265 
10,345 

7,680 
94,239 
24,956 
11,937 

3,019 



125 

123 

1 

1 



(1) 



2,665 
103 
166 

144 
410 

116 
154 
71 
157 
216 
7 

13 
193 
93 
37 
199 



106 

(') 

26 

2 

39 



217 
124 

66 
6 

21 



1,490 

149 

1,341 

1,836 
130 

42 
159 

93 

260 
51 
234 
613 
254 



352 
16 

186 
106 



173 
11 

162 



756 
102 
238 
174 
51 

33 

87 
44 
27 



27,657 

25,384 

784 

989 

142,733 
13,727 
(M 
22,032 
70,007 
36,669 

92,450 

,331,930 
95,609 
187,098 

536,446 
294,382 

79,606 
175,333 
191,513 

37,078 
386,647 

22,423 

94,351 
362,406 

50,964 
152,932 
262,664 

689,140 

66,020 
(M 
36,523 
5,171 
26,315 

99,921 

63,045 
35,291 
15,184 
9,903 
2,667 



857,686 
112,057 
745,629 

280,174 
20,437 

8,086 
22,962 

9,748 

35,263 

2,626 

17,826 

133,211 

30,010 

90,152 

1,363,013 

1,414,999 

789,341 

179,514 

^.05,912 

39,732 

17,304 

3,560 

13,744 



8,643 

151,868 
36,644 
17,848 
19,140 
3,949 

2,621 
31,528 
36,520 

3,613 

14,334 



See footnote at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data 



CORPORATION INCOME TAX RETURNS FOR 1952 



19 



Table C— NUMBER OF RETURNS AND TOTAL ASSETS— FISCAL YEAR RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED— Continued 



PART I.— RETURNS WITH NET INCCME— Continued 



Major industrial groups 



Fiscal year ending — Continued 



January 1953 



Number 

of 
returns 



Total 
assets 

( Thousand 
dollars) 



February 1953 



Total 
assets 

( Thousand 
dollars) 



Number 

of 
returns 



Total 

assets 

( Thousand 

dollars) 



Number 

of 
returns 



Total 
assets 

(Thousand 
dollars > 



May 1953 



Number 

of 
returns 



Total 

assets 

( Thousand 

dollars) 



Number 

of 
returns 



Total 
assets 
f Thousand 
dollars) 



(13) 



(I'i) 



(15) 



(16) 



(17) 



(18) 



(19) 



(20) 



(21) 



(22) 



(23) 



All industrial groups. 



(24) 



Agriculture, forestry, and fishery. 
Farms and agricultural services. . 

Forestry 

Fishery 



Mining and quarrying 

Metal mining 

Anthracite raining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production, 

Nonmetallic mining and quarrying 

Construction 



Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Textile-mill products 

Apparel and products made from fabrics 

Lumber and wood products, except furniture 

Furniture and fixtures 

Paper and allied products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleum and coal products 

Rubber products 

Leather and products 

Stone, clay, and glass products 

Prijnary metal industries 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation equipment and 
electrical. 

Electrical machinery and equipment 

Transportation equipment, except motor vehicles. 
Motor vehicles and equipment, except electrical. 

Ordnance and accessories 

Scientific instruments; photographic equipment; 
watches, clocks. 
Other manufacturing 

Public utilities 

Transportation 

Communication 

Electric and gas utilities 

Other public utilities 

Trade 



Wholesale 

Commission merchants. 
Other wholesalers. . . . 



Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings. 



Automotive dealers and filling stations. 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 



Trade not allocable 

Finance, insurance, real estate, and lessors of 
real property. 

Finance 

Banks and trust conpanies 

Credit agencies other than banks 

Holding and other investment companies 

Security and commodity-exchange brokers and 
dealers. 

Insurance carriers and agents 

Insurance carriers 

Insurance agents and brokers 



Real estate, except lessors of real property 
other than buildings. 
Lessors of real property, except buildings. . . 

Services 

Hotels and other lodging places. 

Personal services 

Business services 

Automotive repair services and garages 

Miscellaneous repair services, hand trades... 

Motion pictures 

Amusement, except motion pictures 

Other services, including schools 

Nature of business not allocable 



13,077 

73 
11 



(M 

1 
50 
12 

538 

1,887 

26 

83 

1 

108 

400 

85 
112 
33 
99 
88 
U 

5 

53 

52 

(') 

154 

198 



171 
156 
12 



1,445 

160 

1,285 

5,581 

158 
1,194 
2,384 

500 

263 
127 

70 
315 
570 

232 

2,238 

252 

3 

166 

79 



41 
1,921 



735 
65 
102 
265 
122 

39 
65 

36 
41 



10,046,035 

32,632 
30,423 

2,209 



16,399 
(M 

1,571 
12,619 
2,132 

162,232 

952,610 

7,245 

74,707 

349 

81,627 
125,520 

28,948 
30,885 
17,307 
59,814 
33,146 
15,948 

8,480 
18,012 
44,023 
(1) 
75,185 

108,530 



19,827 
3,498 
4,509 



26,941 

22,726 

1,594 

2,621 

7,784,915 

648,172 
40,112 
603,060 

7,033,253 

55,227 

5,642,903 

366,432 

179,716 

73, 174 

25,781 

4,778 

61,790 

123,402 

103,490 
936,409 

375,590 
23,507 
196,761 
149,294 
6,028 

5,444 

5,444 
544,660 

10,715 
124,309 
31,997 
12,773 
49,277 
12,437 

4,106 
5,715 
5,447 
2,557 

9,538 



123 

112 
11 



{') 



2,163 
38 

193 

110 
243 

132 
98 
49 

157 

79 

(M 

20 

63 

110 
35 

202 

143 

133 
29 
29 

1 
79 

200 

275 

225 

34 

6 

(1) 

4,418 

1,671 

169 

1,502 

2,446 
160 
53 
467 
244 
274 
114 
233 
337 
564 

301 
2,405 

313 
14 

237 
22 
(1) 



81 
1,997 



791 
89 
192 
220 
73 

34 
87 
4S 
48 



30,860 

30,172 

688 

34,307 

602 
20,471 
12,783 

168,450 

1,446,009 

11,264 

465,896 

64,549 
48,413 

30,945 
16,948 
27,072 
62,938 
50,661 
(M 

65,822 
15,342 
22,794 
19,24i 
67,231 

193,472 

57,970 
27,297 
15,446 
2,481 
8,633 

116,296 

49,742 

41,725 

4,930 

2,959 

(1) 



481,858 

42,238 

439,620 

974,209 
621,553 
20,464 
75,910 
60,489 
45,229 
8,019 
14,170 
52,923 
75,452 

60,511 
566,074 

141, 671 
12,549 
75,553 
52,537 
(1) 

8,726 

3,726 
394,024 

21,653 
104,963 
18, 196 
15,102 
29,006 
11,155 

2,600 

12,952 

9,538 

6,414 

1,938 



204 

138 

6 

(') 

252 

2 

11 

33 

162 

39 

1,726 

3,973 

80 

443 

11 

178 

461 

176 
213 

37 
420 
133 

23 

15 
67 

112 
63 

477 



121 

23 

57 

2 

73 



484 

469 

12 

2 

1 

6,458 

2,576 

269 

2,307 

3,413 
347 
147 
392 
343 
574 
115 
347 
286 
862 

469 
4,238 



635 

56 

41A 

101 

64 

128 
(M 
127 



89 
1,955 
129 
476 
431 
137 

136 
289 
207 
150 



7,264,325 

80,549 

67,756 

10,876 

(') 

168,918 

4,339 

1,678 

52,168 

64,207 

46,476 

456,193 

3,079,131 
52,770 
703,651 
240,244 
264,346 
90,972 

115,435 
58,251 
189,655 
149,243 
50,017 
84,434 

7,127 

25,824 

65,682 

48,068 

129,202 

417,694 



125,881 

16,135 

27,419 

1,337 

110,095 



309 105,644 

38,905 

80,627 

5,206 

2,521 

551 



1,704,382 
854,382 
46,813 
308,064 

726,572 

271,261 
13,595 
42,661 
64,288 

115,362 
21,821 
15,060 
47,091 

130,433 

122,928 
1,417,195 

732,675 
303,608 
200,378 
207,200 
21,489 

16,474 

(M 

16,333 

655,261 

12,785 
267,235 
42,407 
34,309 
61,091 
22,864 

3,982 
38,105 
40,726 
18,751 

2,312 



180 
180 



155 

2 

1 

18 

90 



309 
2 

148 
390 

lis 

U3 
43 
361 
100 
9 



57 
47 
243 



372 
331 
15 



1,767 

247 

1,520 

2,824 
274 
55 
252 
243 
475 
137 
311 
232 
845 

426 
4,089 

531 

28 

423 

114 

16 



123 
3,336 

49 
1,250 
161 
291 
286 
106 

40 
105 
178 

83 



56,213 
56,213 



107,282 
1,156 
514 
61,115 
34,066 
10,431 

233,624 

2,187,004 
101,310 
272,660 

2,603 
95,399 
105,700 

140,666 

54,855 

467,940 

119,343 

36,345 

23,387 

12,090 
34,218 
54,704 
34,799 
93,117 

197,279 

75,107 
169,000 
10,025 



62,753 

111,196 

102,307 

3,279 

2,820 

2,790 



572,573 

55,179 

517,399 

445,375 

119,452 

5,447 

12,355 

26,132 

79,980 

15,349 

23,973 

34,819 

127,868 

117,101 
1,865,383 

968,265 
161, 549 
443,939 
197,552 
160,225 



12,107 
379,396 

5,615 
256,234 
127,607 
31,248 
30,161 
19,539 

2,833 
9,501 
22,217 
U,128 

3,950 



273 

255 

5 

13 

86 
2 
1 



532 

2,664 

9 

263 

2 

138 

523 

102 
92 
41 
234 
190 
2 



9 

58 

103 



223 

419 
368 
40 

(1) 

(1) 

4,459 

2,045 

283 

1,762 

2,046 
241 
89 
187 
183 
256 
122 
263 
167 
533 

368 
3,513 

333 
15 

303 
35 

126 

126 
2,961 

43 

1,176 

138 

168 

270 

59 

113 

150 

147 

31 



See footnote at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



5,671,856 

78,102 

74,266 

1,479 

2,357 

96,689 
13,950 
360 
6,770 
53,153 
12,456 

127,746 

2,860,225 

4,929 

653,016 

1,635 

99,553 

107,759 

27,905 
44,522 
83,386 
62,751 
871,630 
12,344 

2,600 
40,853 
29,205 
348,794 
90,107 

108,500 

172,549 

8,879 

19,915 

933 

9,233 

53,677 

131,745 

125,263 

6,116 

(') 

(') 

1,118,628 

738,724 

44,220 

694,504 

315,573 
33,234 
11,208 
15,713 
44,397 
60,871 
12,015 
18,861 
48,717 
70,557 

64,331 
1,114,113 

431,733 
232,154 
133,714 

56,385 

(') 

22,468 

22,468 
657,224 

2,683 
144,608 
44,085 
16,679 
23,153 
4,913 

5,691 
25,700 
17,835 

6,497 



28,857 
531 
512 

18 

409 

1 

3 

50 

244 

111 

1,254 

6,782 

50 

525 

3 

316 

891 

346 
380 
171 
654 
394 
11 

33 

204 
160 
166 
709 



237 

SO 

45 

9 

102 



368 
745 

96 
2 

25 



4,537 

389 

4,148 

5,442 
376 
288 
839 
610 
687 
276 
431 
493 

1,392 

868 

6,038 

1,221 
275 
693 
203 

50 



374 

18 

356 



112 



2,069 
240 
299 
540 
358 

51 
130 
197 
254 



211,915 
203,888 

7,144 

301, 620 
2,463 
3,767 
40,276 
216,588 
38,526 

363,711 

6,710,430 
44,706 
754,907 
2,580 
554,062 
295,949 

187,307 
134,789 
110,849 
202,650 
1,193,954 
133,956 

36,175 
105,617 

97,603 
733,576 
501,074 

569,863 

230,529 

210,523 

231,526 

24,995 

36,203 

307,037 

301,507 

279,382 

16,692 

2,003 

3,430 

2,944,958 

1,836,209 

113,985 

1,717,224 

934,433 
161,320 
42,612 
102,155 
136,075 
152,969 
36,466 
35,919 
72,690 
194,227 

174,316 
3,960,253 



2,862,302 

1,900,578 

685,960 

242,350 

32,914 

42,753 
6,955 
35,793 

1,043,253 

6,940 
390,130 
91,263 
22,966 
80,535 
30,019 

3,160 
94,817 
37,137 
30,233 



20 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table C— NUMBER OF RETURNS AND TOTAL ASSETS— FISCAL YEAR RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED— Conlmued 

PART II.— RETURNS WITH NO NET INCCME 



J&jor Industrial groups 



Number 

of 
returns 



Total 
assets 



( Th<3usaftd 
dollars) 



Fiscal year ending — 



July 1952 



Number 

of 
returns 



Total 

assets 

( Thousand 

dollars) 



August 1952 



Number 

of 
returns 



Total 
assets 

( Thousand 
dot lars) 



September 1952 



Number 

of 
returns 



Total 
assets 

f Thousand 
dollars) 



October 1952 



Number 

of 
returns 



Total 
assets 

(Thousand 
dol tars ) 



November 1952 



Number 

or 
returns 



Total 
assets 

(Thousand 
dollars) 



(1) 



(2) 



(3) 



W 



(5) 



(6) 



(7) 



(8) 



(9) 



(10) 



(11) 



(12) 



All industrial groL^js 

Agriculture, forestry, and fishery. 

Farms and agricultural services 

Forestry 

Fishery 

Mining and quarrying 

Metal mining 

Anthracite mining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production 

Nonmetallic mining and quarrying 

Construction 

Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Textile-mill products 

Apparel and products made from fabrics 

Lumber and wood products, except furniture 

Furniture and fixtures 

Paper and allied products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleum and coal products 

Rubber products 

Leather and products 

Stone, clay, and glass products 

Primary metal industries 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation equipment and 
electrical. 

Electrical machinery and equipment 

Transportation equipment, except motor vehicles, 
Ifctor vehicles and equipment, except electrical 

Ordnance and accessories 

Scientific instruments; photographic equipment; 
watches, clocks. 
Other manufacturing 

Public utilities 

Transportation 

Communication 

Electric and gas utilities 

Other public utilities 

Trade 

Wholesale 

Connnission merchants 

Other wholesalers 

Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings 

AutonjDtive dealers and filling stations 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 

Trade not allocable 

Finance, insurance, real estate, and lessors of 
real property. 

Finance 

Banks and trust companies 

Credit agencies other than banks 

Holding and other investment cojnpani.es 

Security and commodity-exchange brokers and 
dealers. 

Insin-ance carriers and agents 

Insurance carriers 

Insurance agents and brokers 

Real eatate, except lessors of real property 
other than buildings. 
Lessors of real property, except buildings 

Services 

Hotels and other lodging places 

Peraonal services 

Business services 

Automotive repair services and garages 

lliscellaneous repair services, hand trades 

notion pictures 

Amusement, except motion pictures 

Other services, including schools 

Nature of business not allocable 



79,972 

1,402 

1,298 

1 

103 

1,301 
78 
43 
266 
711 
203 

4,164 

15,649 

388 

1,338 

848 
3,253 

895 

702 

303 

1,080 

1,011 

55 

57 
372 
340 
192 
941 



566 
158 
139 
26 
276 

1,642 

2,251 
1,965 

138 
21 

127 

29,013 

9,485 
1,395 
8,090 

17', 119 

1,331 

858 

3,229 

1,743 

2,241 
583 
2,933 
1,197 
2,999 

2,409 

15,727 

2,769 
83 

2,015 
419 
252 

512 

6 

506 



402 

9,062 
1,104 
1,675 
1,832 

727 

408 
1,015 
1,314 

937 

1,403 



266,615 

246,260 

7,121 

13,234 

730,431 

37,475 

6,332 

142,307 

523,838 

20,429 

482,989 

3,561,608 
198,079 
649,990 

520,321 
331,660 

194,253 
86,962 

114,500 
91,180 

197,939 

174,154 

30,089 

103,000 

51,945 

49,526 

140,773 

184,263 

104,554 

76,567 

50,842 

6,486 

28,294 

176,226 

379,733 

299,699 

17,103 

41,153 

21,778 

2,802,744 

1,324,946 

188,421 

1,136,525 

1,273,051 
77,030 
152,479 
243,778 
139,341 

169,614 
22,724 

106,675 
92,021 

224,339 

199,747 
5,455,276 



2,265,224 
349,539 

1,494,645 
193,110 
227,930 

22,315 

2,130 

20,185 



57,533 

650,768 

200,749 

70,885 

85,477 

26,756 

10,916 
140,066 
72,538 
43,381 

45,141 



128 

103 



1,150 

(M 

103 

40 
290 

57 
80 
(') 
75 
78 
2 



(1) 



(1) 



142 
110 

21 
1 

10 



695 
73 

622 

1,517 

50 

118 

472 

27 

305 

60 

226 

(1) 

219 

166 



110 

(^) 
74 
11 
5 

(M 

(1) ' 
757 

12 

566 
28 

106 
203 
(') 



(1) 



17,244 
14,804 

2,440 

34,175 
2,287 

6,250 

23,924 

1,714 



168,033 
(') 
9,978 

21,853 
18,433 

17,031 
4,767 

(') 
6,903 
8,733 
5,617 

2,247 
3,063 

(') 
952 

15,199 

7,378 

6,953 
2,356 

16,601 
685 

(-) 

10,139 

40,646 

37,668 

1,404 

1,212 

362 

216,849 

85,793 
4,264 
31,529 

114,966 

1,441 

17,876 

39,540 

8,713 

18,890 
2,342 
8,166 

(') 

17,144 

16,090 



14,306 

(1) 

11,481 
1,107 
1,303 

(') 

(») 
170,646 

3,779 

36,556 
12,040 
4,319 
5,708 
(1) 

(1) 
4,144 
2,578 

6,421 

322 



6,894 



122 

10 



21 

249 

1,530 
22 

150 

80 
256 



32 
121 

107 
1 

38 
(1) 
(1) 
114 

124 

77 
15 
(M 
1 

(M 



161 

U7 

11 

2 



789 
105 
684 

1,460 

141 

35 

320 

128 

131 
70 

207 
80 

293 

167 

1,237 



124 
41 
(') 

(') 

(') " 
989 

(') 
997 
64 
200 
143 
115 

60 
161 
132 
122 

113 



1,051,551 

16,216 
16,029 



158,685 

977 

6,682 

143,605 

2,421 



232,255 

3,875 

28,808 

32,739 
26,295 

16,851 
5,170 
2,513 
3,962 

11,715 
916 

6,823 

(1) 
21,503 

13,539 



9,390 
20,073 
(') 

741 
(1) 

11,782 

14,818 

9,161 

4,241 

893 

523 

187,541 

38,325 
10,912 
77,413 

39,992 

7,325 

956 

16,496 

10,434 

16,309 
2,320 
7,473 
4,446 

24,233 

9,224 

307,737 

17,382 

3,552 
7,835 
(1) 

(') 

(1) 
286,903 

(') 

39,125 

20,201 

8,648 

9,504 

3,721 

1,023 
33,823 
8,049 
4,156 

5,791 



8,511 

135 

114 

1 

20 



2 

1 

21 

63 
(M 
339 

1,734 
91 
152 

101 
253 

95 

93 

39 

194 

120 

2 

21 
42 
78 



(') 



240 

186 

32 

11 

11 

2,982 

899 

107 
792 

1,890 

195 

60 

254 

172 

225 
50 
404 
136 
394 

193 

1,643 



132 
(1) 

110 
36 
25 

(1) 

(1) " 
1,371 

58 

1,210 
174 
284 
192 
93 

50 
155 
119 

143 



1,568,578 

39,360 

31,545 

7,121 

694 

60,297 
2,492 
1,858 
1,983 

53,766 

(') 

43,897 

478,956 
42,545 
46,910 

112,167 
17, 533 

22,914 
10,100 
17,532 
5,560 
21,153 
24,614 

5,414 
17,245 
10,973 

9,519 
11,762 

44,333 



12,664 

5,561 

16,103 

(M 
20,144 

43,674 

15,777 

4,386 

22,724 

787 

251,035 

148,332 
43,855 
99,477 

90,543 
10,250 

1,398 
12,927 

8,627 

20,316 
2,447 

10,562 
6,703 

16,308 

12,160 
553,661 



169,433 
(M 

21,848 
14,226 

129,541 

(1) 

(') 
376,922 

5,515 

90,313 
27,345 
10,708 
11,332 
5,380 

2,069 

13,571 

9,547 

5,361 

6,385 



102 
6 

25 

70 
1 



1,198 

59 

123 

54 

206 

84 
42 
(1) 
90 
53 
2 

1 
59 
34 
22 
69 



37 
5 
31 
(') 



195 

162 

11 



2,231 

615 
102 

513 

1,379 
186 
41 
132 
108 

134 
60 

340 
97 

281 

237 
1,164 

156 

(M 
103 
36 
2 



(M 
937 



. 948 

190 

150 

182 

81 

(') 
131 
102 
82 

71 



1,093,382 

21,861 
21,861 



23,676 
2,963 

4,065 
15,358 

1,290 



421,323 
41,001 
169,870 

23,741 
29,915 

12,415 
6,581 
(1) 
12, 215 

7,751 
4,263 

679 

37,916 

1,764 

5,953 

8,482 

14,836 

5,500 
2,142 
3,693 
(M 



26,547 
14,942 
1,288 



109,978 

3,213 

106,765 

80,357 

10,107 

1,007 

5,517 

9,136 

10,624 

1,915 

12,517 

11,753 
13,231 

10,603 

274,961 

64,137 
(') 

12,444 

49,593 

1,860 

(M 

(M 

205,633 

4,566 

91,983 
38,452 

4,687 
10, 505 

2,451 

(') 

21,322 

11,133 

2,904 

2,864 



36 
85 

1 

117 
7 

10 
6 

88 
6 

126 

900 
17 
47 

88 
231 

74 
52 
(') 



(') 
(') 



(1) 

(') 
(M 
(') 

(') 

(M 



1,581 
578 



846 

116 

41 

70 

51 

135 
(M 
183 
119 
111 

157 



92 
37 
28 

(') 

1 
(1) 
796 



429 

55 
95 
72 
41 

{') 
51 
22 
63 



29,362 
25,928 

3,434 

51,775 

2,753 

161 

2,635 

43,428 
2,743 

8,936 

435,712 
20,850 
23,444 

179,693 
59,674 

24,304 
23,564 
(') 

6,343 
19,987 



9,771 
20,039 
(1) 
(M 

4,935 

(1) 

(M 
(1) 
(') 

(^) 

(') 

22,553 
11,566 

10,937 

174,069 

115,157 
7,742 

107,415 
47,665 
6,602 
2,347 
2,285 
2,247 

6,229 
(') 

7,044 
15,427 

4,322 

11,247 
253,213 



36,059 

13,281 
15,517 
7,261 

(') 

5 
(1) 
203,580 

7,983 

34,249 
9,331 
6,347 
3,618 
4,566 

(') 
1,906 
4,066 
3,172 

1,213 



See footnote at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



CORPORATION INCOME TAX RETURNS FOR 1952 



21 



Table C— NUMBER OF RETURNS AND TOTAL ASSETS— FISCAL YEAR RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROUPS AND BY MONTH IN WHICH FISCAL YEAR ENDED— ConUnued 

PART II.— RETURNS WITH NO NET INCCME— Continued 



Major industrial groups 



Fiscal year ending — Continued 



January 1953 



Number 

of 
returns 



Total 
assets 
f Thousand 

-ioUars) 



February 1953 



Number 

of 
returns 



Total 
assets 

(Thousand 
dollars) 



Number 

of 
returns 



Total 
assets 

( Thousand 
dollars) 



Number 

of 
returns 



Total 
assets 

( Thousand 
dollars) 



May 1953 



Number 

of 
returns 



Total 
assets 

( Thousand 
dollar %) 



Number 

of 
returns 



Total 
assets 

( Thousand 
dollars) 



(13) 



(U) 



(15) 



(16) 



(17) 



(18) 



(19) 



(20) 



(21) 



(22) 



(23) 



(2<t) 



All industrial groups. 



Agriculture, forestry, and fishery. 
Farms and agricultural services.. 

Forestry 

Fishery 



Mining and quarrying 

Metal mining 

Anthracite mining 

Bituminous coal and lignite mining 

Crude petroleum and natural gas production. 
Nonmetallic raining and quarrying 

Construction 



Manufacturing 

Beverages 

Food and kindred products 

Tobacco manufactures 

Textile-mill products 

Apparel and products made from fabrics 

Lumber and wood products, except furniture 

Furniture and fixtures 

Paper and allied products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleujn and coal products 

Rubber products 

Leather and products 

Stone, clay, and glass products 

Primary metal industries 

Fabricated metal products, except ordnance, ma- 
chinery, and transportation equipment. 

Machinery, except transportation equipment and 
electrical. 

Electrical machinery and equipment 

Transportation equipment, except motor vehicles, 
(totor vehicles and equipment, except electrical. 

Ordnance and accessories 

Scientific instruments; photographic equipment; 
watches, clocks. 
Other manufacturing 



Public utilities 

Transportation 

Communication 

Electric and gaa utilities. 
Other public utilities 

Trade 



Wholesale 

Comaiasion merchants. 
Other wholesalers. . . . 



Retail 

Food 

General merchandise 

Apparel and accessories 

Furniture and house furnishings. 



Automotive dealers and filling stations. 

Drug stores 

Eating and drinking places 

Building materials and hardware 

Other retail trade 



Trade not allocable 

Finance, insurance, real estate, and lessors of 
real property. 

Finance 

Banks and truat companies 

Credit agencies other than banks 

Holding and other investment conpanies 

Security and commodity-exchange brokers and 
dealers. 

Insurance carriers and agents 

Insurance carriers 

Insurance agents and brokers ; 

Real estate, except lessors of real property 
other than buildings. 
Lessors of real property, except buildings.... 

Services 

Hotels and other lodging places 

Personal services 

Business services 

Automotive repair services and garages 

Miscellaneous repair services, hand trades.... 

ttotion pictures 

Amusement, except notion pictures 

Other services, including schools 

Nature of business not allocable 



5,825 

98 
93 



5 
64 

(') " 
U 
(') 
222 

988 

3 



20 
386 



(') 
59 
51 

1 

21 
1 
1 

63 



45 
17 
(M 



142 
142 



2,793 

596 
106 
490 

2,032 

(^) 
261 
984 
180 
100 

(') 
120 
157 
160 

165 

1,007 

219 
(') 

152 
36 
21 



21 
736 

31 

419 
33 
(') 

106 
(M 

(') 
69 
80 

(1) 



997,645 

15,909 
13,523 



2,386 
6,212 



(1) 
4,366 
(') 
21,301 

152,014 
9,919 
16,204 

10,083 
35,553 



(M 
3,909 

3,032 

5,960 
1,546 
569 
1,407 
8,084 

5,198 

4,956 
21,665 
(') 

4,105 

10,134 

8,706 
8,706 



408,862 

82,271 

4,710 

77,561 

311,785 

(') 

84,213 
122,436 

57,164 

7,629 
(1) 

4,351 
14,014 
19,254 

14,806 

355,326 

169,234 
(1) 

49,839 
56,687 
61,571 



2,450 
180,314 

3,328 

26,310 
4,695 

(') 
5,962 

(') 

(') 
10,745 

2,363 
(') 

3,005 



5,613 

117 
117 



49 
2 
(') 



26 
1 

420 

911 



45 
157 

83 
35 

1 
57 
54 

(') 
(^) 

8 
(») 



(1) 



143 
132 
(1) 

1 

2,040 

680 
70 
610 

1,157 

101 

37 

244 

157 

182 
(») 
186 
91 
128 

203 

1,239 



217 
42 
31 



50 
857 



564 
53 
85 

133 



(') 
(!) 



32 

101 
100 



12,213 
12,213 



24,440 
9,816 
(1) 

13,170 
650 



186,863 

5,831 

53,919 

12,753 
19,608 

3,681 
2,705 
710 
12,622 
20,468 

(') 
(') 

3,600 
(') 

6,907 

5,263 

14,691 

1,049 

544 



(') 



5,867 
4,056 
(M 

1,529 

170,913 

73,087 

1,500 

71,537 

85,010 
3,207 
12,354 
14,586 
15,462 

11,343 

(^) 
7,244 
5,225 

13,928 

12,816 
338,791 



89,371 
2,876 



1,756 

1,756 
239,290 

3,596 

35,284 
6,319 
6,462 
8,102 

(') 

(') 
4,990 
5,209 
2,980 

6,491 



146 
145 



207 
16 
11 

40 
80 
50 

799 

1,992 

(1) 
202 

104 
344 

163 
117 

34 
125 
138 

22 



(') 



43 
23 
146 



(1) 



232 

210 



(') 

1 
11 

3,178 

1,U0 
206 
924 

1,783 
121 
72 
191 
233 

218 
90 
340 
153 
365 

265 

1,817 



294 
21 
22 



71 
1,372 

33 

1,149 
124 
242 
190 

91 



(') 



143 
257 
81 



1,786,905 

33,179 
32,531 



648 

97,953 
3,957 

727 

42,401 

47,470 

3,398 

102,041 

360,314 

(') 

84,306 

37,696 
28,760 

26,602 
7,518 
6,367 
10,855 
28, 573 
36,351 

(') 
3,354 
5,229 

12,722 

11,711 

17,037 
9,157 



(1) 

17,103 

31,278 
27,678 
(M 
1,705 
1,329 

258,459 

120,329 
12,164 
108,165 

118,987 

3,734 

3,691 

6,730 

16,436 

20,443 
3,086 

13,574 
9,443 

31,745 

19,143 
831,692 



438,000 

248,887 

179,925 

5,633 

3,504 

5,201 

5,201 
383,215 

5,276 

69,151 
13,487 
10,186 
10,375 
2,405 

(') 

18,215 

12,715 

1,368 

2,838 



130 
180 



127 
6 

1 



(M 

417 

1,286 
25 
104 

83 
220 

58 
93 
5 
62 
96 
15 



(') 



83 
2 
(1) 

(') " 

159 

291 
248 
(M 
2 

40 

2,473 

944 
161 
783 

1,304 

102 

66 

140 

184 

189 
) 

271 

82 

250 

225 

1,624 

403 
9 

311 
69 
14 



(') 



50 
1,127 



914 
157 
162 
138 
86 

50 
74 
181 
66 



25,026 
25,026 



89,962 
2,898 
2,782 

54,580 

27,239 

(M 

35,883 

246,947 
13,256 
57,450 

38,115 
16,097 

21,390 

7,456 
12,483 
11,870 
9,561 
4,106 



6,731 

7,662 
10,141 

9,136 

6,126 
1,923 
(') 

(') 

11,735 

25,585 

21,640 

(') 

1,542 

2,049 

200,248 

95,623 

5,614 

90,009 

90,742 
3,902 
9,575 
3,617 

13,407 

16,659 
(') 

10,214 

9,425 

23,677 

13,333 

946,425 

611,365 
48,500 

547,475 
3,918 
5,472 



S90 
325,059 

9,111 

67,202 
32,695 
7,816 
8,613 
3,209 

912 
3,801 
7,035 
3,120 

3,852 



137 

117 



1,261 
32 
90 

35 
313 

41 
27 

4 
96 
90 

1 

5 

(1) 

47 

13 

63 



24 
35 
(') 

(1) " 

169 

186 
173 

1 
1 

2,421 

924 
103 
821 

1,283 

57 

40 

141 

159 

182 
21 

292 
81 

310 



241 

1 

187 

33 

(M 



60 
1,225 



632 
103 

80 
220 

30 

(.'■) 



1,003,761 

15,470 
13,304 

(') 
87,558 



3,543 

82,831 

1,184 



244,800 

8,259 

82,561 

7,577 
26,575 

13,400 
2,294 
5,269 
8,132 

14,881 
655 

1,983 
(') 
10,385 

2,871 
15,300 

10,441 



9,060 
7,093 
(1) 

(.') 

11,957 

23,977 

20,769 

(M 

1,586 

381 

210,551 

111,004 

5,369 

105,635 

76,959 
7,067 
1,157 
6,679 

11,522 

13,549 
1,792 

11,438 
3,973 

19,632 

22,688 
340,329 



80,166 
6,551 

67,966 
4,462 

(M 



240 
256,705 

3,218 

46,056 

19,433 

1,490 

4,622 

1,671 

(') 

10,874 
4,772 
3,162 

4,934 



12,847 

267 
246 

228 
27 



49 

100 

52 



2,699 

52 

210 

198 
602 

93 
122 

74 

155 

180 

9 

1 

(') 

45 

25 

142 

215 

74 
23 

(') 

(') 

(') 

381 

425 

353 

31 

1 

(') 

4,520 

1,535 

283 

1,352 

2,458 

222 

87 

281 

344 

390 
131 
369 
161 
483 



465 
18 

346 
57 
44 

115 
(') 
110 



74 
1,234 

lis 

240 
253 
100 

77 
109 
163 

174 



40,775 
39,496 

(') 

95,698 
9,332 

18,541 
53,731 
4,094 

120,955 

633,886 
34,256 
76,540 

43,903 
53,217 

24,531 
15,807 
49,062 
8,809 
52,085 
97,527 

2,219 
(') 
U,252 

9,026 
25,743 



15,940 
2,392 
(M 
(1) 
(1) 

41,633 

135,032 

127,736 

4,341 

504 

(') 

522,679 

295,047 
84,078 
210,969 

170,545 
17,073 
■ 11,905 
12,965 
36,143 

27,018 
5,331 
14,042 
10,753 
35,315 

57,087 

1,063,923 



570,993 
39,991 

492,462 
26,205 
12,334 

5,791 
(') 
4,184 

475,937 

10,202 

54,039 
15,750 
9,598 
7,136 
2,221 

2,499 
11,575 
4,570 
9,590 



^Sample variability of this item ts too large to warrant showing It separately. However, this value is included In each total. 
NOTE: See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



22 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table D.— NUMBER OF RETURNS, NET INCOME OR DEFICIT, AND TAXES— FISCAL YEAR RETURNS, BY NET INCOME AND DEFICIT CLASSES 



Net income and deficit classes 



Returns with net income 



Number 

of 
returns 



Net 
income 



(Thousand 
dollars) 



Income 
tax 



t Thousand 
dollars) 



Excess 

profits 

tax 

(Thousand 
dollars) 



Returns with no 
net income 



(Thousand 
dollars) 



(1) 



(2) 



(3) 



M 



(5) 



(6) 



Under $5,000 

$5,000 under $10,000... 
$10,000 under $15,000.. 
$15,000 under $20,000.. 
$20,000 under $25,000.. 
$25,000 under $50,000.. 
$50,000 under $100,000. 



$100,000 under $250,000 

$250,000 under $500,000 

$500,000 under $1,000,000 

$1,000,000 under $5,000,000.. 
$5,000,000 under $10,000,000. 
$10,000,000 or more 



73,248 
25,730 
15,354 
11,937 
11,238 
12,281 
7,378 

5,333 

1,992 

1,015 

809 

116 

70 



134,905 
137,399 
189,649 
207,963 
254,806 
423,209 
516,515 

822,914 
688,905 
705,151 

1,674,579 
782,222 

1,913,772 



36,260 
49,421 
51,971 
58,723 
73,255 
137,892 
208,165 

376,859 
325,335 
335,509 
305,122 
367,512 
954,238 



31 

29 

173 

3,479 

16,374 

30,269 
29,969 

31,795 
82,710 
39,712 
90,711 



53,621 
11,049 
4,321 
2,579 
1,794 
3,656 
1,500 

830 
162 
83 
28 
2 
1 



75,695 
78,322 
53,630 
45,242 
40,136 
125,777 
103,024 

120,436 
55,372 
54,768 
45,787 
14,642 
11 



Total 

No income data (inactive corporations). 



8,501,939 



330,256 



35,126 



318,392 



NOTE: See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data. 



FISCAL YEAR RETURNS 

Fiscal year returns, which number 257,000, are segre- 
gated for the tabulation of the preceding tables A-D. 
The number of returns, net income or deficit, and tax, by 
month in which fiscal year ended, are shown in table A. 
Returns with net income and with no net income are 
classified by major industrial groups and by month in 
which fiscal year ended in tables B and C. Table B 
contains number of returns and net income or deficit, and 
table C, for returns with balance sheets, shows number of 
returns and total assets. Table D classifies these re- 
turns by size of net income or deficit and shows number 
of returns, net income or deficit, and tax. 

Fiscal year returns in this report are those ending in 
the period July 1952 through June 1953. Data from 
these returns are included in all tabulations except the 
table for part year returns below. 

PART YEAR RETURNS 

Part year return data are summarized below. These 
33,000 returns are filed for a period of less than 12 months 
and represent reorganizations, newly organized busi- 
nesses, liquidations, and changes from calendar year to 
fiscal year basis, or vice versa. Part year returns with 
the greater part of the income period in 1 952 are included 
in all tabulations in this volume, except those for fiscal 
year returns, A through D, above. 

PART YEAR RETURNS OF CORPORATIONS, 1952 

Total number of returns 32, 981 

Returns with net income: 

Number of returns 15, 232 

Net income thousand dollars.. 335, 695 

Income tax thousand dollars.. 131, 433 

Excess profits tax thousand dollars.. 12, 855 

Total tax thousand dollars. . 1 44, 288 

Returns with no net income: 

Number of returns 17, 749 

Deficit thousand dollars^. 107, 039 

See p. 24 for "Explanation of Terms" and p. 23 for "Description 
of the Sample and Limitations of Data." 



LIFE INSURANCE COMPANIES 

The amendments introduced by the Revenue Act of 
1951 with respect to taxation of life insurance companies, 
applicable only to the tax year 1951, are extended to 
cover the 1952 tax year by Public Law 468, 82d Congress. 

Life insurance companies are required to report only 
their investment income, i. e., interest, dividends, and 
rents, and may deduct only expenses incident thereto and 
wholly tax-exempt interest in arriving at net income. 
The deductions reported are taxes and depreciation, 
tabulated under their respective titles, and investment 
and real estate expenses, tabulated as "Other deduc- 
tions." Companies deriving a portion of their income 
from contracts other than life insurance, annuities, or 
noncancelable health and accident insurance make an 
adjustment to the normal-tax net income for certain non- 
life insurance reserves. Companies earning less than 105 
percent of their required interest are allowed a reserve 
interest credit (computed under the provisions of section 
203A (b) of the 1939 Code) against the net income for 
income tax purposes. In lieu of the regular normal tax 
and surtax rates, the 1952 adjusted normal-tax net in- 
come is taxed at 3% percent on the first $200,000 and Qji 
percent on the amount in excess of $200,000. For the 
excess profits tax, a deduction based on a reserve and 
other policy liability credit, adjusted for nonlife insurance 
reserves, is allowed, and the regular corporate excess 
profits tax is imposed. 

Returns of 882 life insurance companies show net in- 
vestment income of $2,204,091,000. When reduced by 
the net deficit of $240,000 reported on 38 returns, the net 
investment income of the life insurance group as a whole 
is $2,203,851,000. 

The adjustment for nonlife insurance reserves, repre- 
senting additional taxable income derived from nonlife 
insurance business, is $21,644,000 (before multiplication 
required by law as an offset to the life insurance company 
tax rate). Of this amount $21,532,000 is reported on 
returns with balance sheets. 



CORPORATION INCOME TAX RETURNS FOR 1952 23 

Companies reporting net income but earning less than Washington from the total population sent to the Na- 

105 percent of their required interest claimed a reserve tional Office. Sampling in the National Office per- 

interest credit against net income of $36,019,000, with mitted extensive stratification and close, immediate 

$30,923,000 of this amount appearing on returns with sample selection control. The 1952 sample, however, 

balance sheets. Income tax of $144,098,000 and excess was selected in the District Directors' offices. Field 

profits tax of $34,000 is reported. sample selection required a change in the sample design. 

The 1952 figures, as compared with those for 1951, sampling procedures, and sample controls in order to 

show an increase of 11 percent in net investment income make selection administratively feasible, 

for the gi'oup, a 20-percent increase in taxable income Since there was no stratification by industry group, the 

from nonlife insurance business, and a total tax increase number of returns in each industry group is now subject 

of 13 percent. Claims for reserve interest credit declined to sampling error. In the 1951 sample, 100 percent 

21.8 percent from the $46,036,000 claimed in 1951. coverage of returns in 141 of these groups eliminated 

sampling errors in the number of returns in those groups. 

DESCRIPTION OF THE SAMPLE AND ^^ ^ ^.^^^^^ of ^j^p inclusion of a large number of returns 

LIMITATIONS OF DATA ^^^^ classes of returns in the 100-percent area, there is 

A probability sample was used as the basis of data little sampling variation in the number of returns and 

tabulated from 1952 corporation tax returns. More than dollar amounts derived primarily from these returns. 

170,000 returns were selected in 64 District Directors' The 100-percent coverage of returns m 1952 accounts for 

offices. These represented approximately one-fourth of about 90 percent of both total assets and total net in- 

the 705,500 corporate returns in the population. come of the entire population and 40 percent of total 

deficit income. 

fsATURE OF SAMPLE j^^ie maximum sampling variabilities in the basic 

Returns were selected at three sampling rates: 100 statistical totals for all industrial groups combined are as 

percent, 20 percent, and 10 percent. The 100 percent follows: 

area, which accounted for 106,957 returns and which Percent 

reflects a reduction of 133,000 returns from 1951, con- ;E°!i "'™.''*''' °^ '■^*"'""^ ±°- \l 

. , J , ^, . ,, . „ . ^ Total net income ±0.10 

sisted of the followmg five groups of returns: Total deficit income ±0. 70 

1. Taxable returns with total income of $200,000 Total assets ±0.20 

and over. These limits would, in the long run, be exceeded in about 

2. Returns with total assets of $500,000 and over: 5 ^^^ ^f ^00 ^-^^^^ ^^^^pl^^ ^f ^j^^ ^952 corporation 

a. Taxable returns with total income under retm-ns 

^ ' Sampling variabilities for selected items within an 

b. Nontaxable returns. illustrative minor industry group, "Special industrv 

3. Taxable and nontaxable consolidated returns. machinery manufacturing," are shown below as plus or 

4. Returns of life insurance companies (Form ^-^^^ percentages of the actual values. 

1120L). f B 

' Percentage 

5. Returns of mutual insurance companies (Form variatim 

-I -. r»rt-\ r\ Returns 

1120M). PrturM with no 

In addition, personal holding company returns. Form item income come 

1120H, were included 100 percent. The data for these Number of returns ±4 ±8 

returns were not included in the preliminary tabulations Gross sales ±3 ± 15 

but appear in this report. "i'"'' ^^'=7*^---- ±^ ±|°° 

_,, 1 1 f 1 • Compensation of officers ±7 ±25 

1 he 20 percent sample was selected from a population Net income or deficit _ _ _ ±2 ±12 

of 38,830 returns, and was stratified as follows: Tax liability ±2 

Returns with total assets between $250,000 and Total assets ±2 ±10 

$500,000: 

a. Taxable returns with total income under OTHER LIMITATIONS OF DATA 

$200,000. In addition to sampling variation, the data are subject 

b. Nontaxable returns. to errors resulting from underreporting and nonreporting. 
The 10 percent area with a population of 559,710 population coverage, sample selection, and data process- 
returns was stratified as follows: ing. Reportmg biases and undercoverage are more 

Returns with total assets under $250,000: serious errors than those associated with selection of 

a. Taxable returns with total income under sample and processing operations; the latter are more 

$200,000. easily controlled. There is no simple method for con- 

b. Nontaxable returns. trolling nonsampling bias comparable to that for con- 
A major change in the 1952 sample design was that the trolling random variabilit}^ 

industry stratification used in the 1951 sample design A very substantial number of corporations, particu- 

could no longer be used because of decentralization of larly large and medium sized, engage extensively in 

sample selection. The 1951 sample was selected in activities generally recognized to be in two or more 



24 



CORPORATION INCOME TAX RETURNS FOR 1952 



industries. On the other hand, in classifying corpora- 
tions by industrial groups, the entire experience of each 
corporation is shown in the single class which accounts 
for the largest percent of total receipts. Consequently, 
statistics shown for industrial classes include data which 
do not relate to the industry indicated, but rather reflect 
other activities of corporations whose principal business 
was reported to be in the industry shown. 

Use of tabulations is also limited by changes in tax 
laws which adversely affect year-to-year comparability 
and historical trend analysis. 

EXPLANATION OF TERMS 

The following definitions apply particularly to current 
year data, but in most instances are also applicable to 
items shown in the historical tables 11-16. When used 
with historical data, the "Comparability of Historical 
Data," pages 121-124 and "Synopsis of Federal Tax 
Laws," pages 151-157, should also be consulted. 

Accounts and notes payable, shown in table 6, con- 
sists of bonds, notes, and mortgages payable with original 
maturity of less than 1 year and accounts payable. 

Adjusted excess profits net income. See "Excess 
profits income and credits." 

Alternative tax consists of a tax of 26 percent of net 
long-term capital gain reduced by any net short-term 
capital loss, plus normal tax and surtax at the usual 
rates on the balance of normal-tax and surtax net 
incomes, and is reported only if it is less than the regular 
normal tax and surtax. Alternative tax is tabulated 
in "Income Tax." (See Synopsis of Federal Tax Laws, 
1944.-52, Table A, for maximum tax rate on long-term 
gain prior to 1952.) 

Amortization of emergency facilities for 1952 is the 
deduction provided by section 124 A of the Internal 
Revenue Code (1939) with respect to the amortization 
over a 60-month period of emergency facilities con- 
structed or acriuired after December 31, 1949, and certi- 
fied as necessary in the national defense. 

Assets and liabilities are tabulated as of December 31, 
of the tax year or close of fiscal year nearest thereto. 
Adjustments are made in tabulating the data as follows: 

(1) reserves for depreciation, depletion, bad debts, etc., 
reported under liabilities, are transferred to the appro- 
priate asset reserve accounts, and (2) deficit in surplus, 
reported under assets, is transferred to liabilities as a 
negative amount. "Total assets" and "Total Habil- 
ities" are decreased by the amounts of such adjustments. 

Bonds and mortgages payable shown in table 6 are 
those with original maturity of 1 year or more. 

Capital assets, reported on the balance sheet and 
tabulated as "Gross capital assets," consists of (1) depre- 
ciable tangible assets such as buildings, manufacturing 
and transportation facilities, furniture and fixtures, 

(2) depletable tangible assets — natural resources, and 

(3) intangible assets such as patents, franchises, formulas, 
leaseholds, goodwill, and trade-marks. In table 6 the 
amounts tabulated as "Capital assets less reserves" also 
include land. 



Treatment of gain or loss from the sale or exchange 
of these properties is shown under "Capital gain or loss" 
and "Net gain or loss from sales other than capital 
assets." 

Capital gain or loss is the gain or loss from sale or 
exchange of "Capital assets" as defined by section 117 
of the 1939 Code, and the aggregate net gain from sale 
or exchange of certain "property used in the trade or 
business" and from involuntary conversion of such 
property and of "Capital assets" held for more than 
6 months. 

An alternative tax may be computed for returns with 
a net long-term capital gain in excess of net short-term 
capital loss. 

Losses from sale or exchange of capital assets are 
allowed only to the extent of capital gains, but a net 
capital loss, reduced by capital gains in intervening 
years, may be carried over to the five succeeding taxable 
years. An aggregate net loss from sale or exchange of 
"property used in the trade or business" and from in- 
voluntary conversion of such property and of "capital 
assets" is treated as an ordinary loss. 

In computing capital gains and losses — 

"Capital assets" (as defined by section 117) consists 
of all property held by taxpayer except: (1) property 
properly includible in inventory, or property held 
primarily for sale in the ordinary course of trade or 
business; (2) depreciable property and real property 
used in trade or business; (3) Government obligations 
issued on or after March 1, 1941, on a discount basis 
and payable without interest at a fixed maturity date 
not exceeding 1 year from date of issue; and (4) certain 
copyrights, literary, musical, or artistic compositions or 
similar properties. 

"Property used in the trade or business" means real 
property and depreciable property, used in the business 
and held for more than 6 months (but not certain copy- 
rights, etc.), and certain timber, coal, unharvested crops, 
and livestock. 

"Short-term" pertains to gains or losses from property 
held 6 months or less; "long-term" to property held 
over 6 months. 

Capital gains and losses are treated historically in I 
Table B, of the Synopsis of Federal Tax Laws. 

Capital stock shown in table 6 consists of both pre- 
ferred and common stock. 

Compiled receipts. See "Total compiled receipts." 

Consolidated returns are defined in text, page 12. 
See also Synopsis of Federal Tax Laws 1944.-52, Table C, 
page 154. 

Contributions or gifts. This deduction is limited bj'^ 
law to 5 percent of net income as computed without the 
benefit of this deduction. 

Cost of goods sold and cost of operations. Identifiable 
amounts of taxes, depreciation, depletion, amortization, 
advertising, pension and other benefit plan contributions 
reported in these costs are transferred to their specific 
headings. For years prior to 1951 only amortization and 
pension plan contributions were so treated. 



COKPORATION INCOME TAX RETURNS FOR 1952 



25 



"Cost of goods sold" is reported for transactions in 
which inventories are an income-determining factor; 
"Cost of operations" is reported for all other transactions. 

Deficit. See "Net income or deficit." 

Dividends paid in cash and assets other than own 
stock exclude liquidating dividends. 

Dividends received. "Dividends, domestic corpora- 
tions" consists of dividends received from domestic 
corporations subject to income taxation under chapter 1 
of the Internal Revenue Code (1939) reported in columns 
2 and 3, schedule C, page 2, Form 1120 for 1952. "Divi- 
dends, foreign corporations" is the amount reported in 
column 4 of schedule C. 

Credits against the net income are allowed with respect 
to dividends from these domestic corporations and certain 
dividends from foreign corporations doing a substantial 
volimie of business within the United States. (No 
credit was allowed for dividends from foreign corpora- 
tions prior to 1951.) 

Dividends from other corporations, reported in column 
5 of schedule C, are included in "Other receipts." Such 
dividends include those from China Trade Act corpora- 
tions, and corporations deriving a large percentage of 
their gross income from sources within a possession of 
the United States, and dividends on share accounts in 
Federal savings and loan associations issued after March 
28, 1942. 

Employee benefit plans other than those within the 
purview of section 23 (p) of the 1939 Code include 
insurance plans, noninsured death benefits, health, acci- 
dent, and other welfare benefits deductible under section 
23 (a). Such amounts were formerly tabulated in 
"Other deductions." 

Excess profits income and credits. The adjusted 
excess profits net income is the excess profits net income 
less the sum of the excess profits credit and the unused 
excess profits credit adjustment. Where the provisions 
of section 430 (e) (maximum tax for new corporations) 
are applicable, the excess profits tax is computed directly 
from the excess profits net income and the amounts of 
excess profits credit and adjusted excess profits net 
income are not always reported. For part year returns, 
the amount of adjusted excess profits net income has 
been placed on an annual basis. 

The excess profits credit is the current year credit 
against the excess profits net income. Methods of com- 
puting the credit are shown on pages 12-13. 

The excess profits net income is obtained from the 
net income by eliminating or adjusting certain items of 
income and deductions, consisting principally of the 
exclusion of capital gains and losses, both long- and short- 
term, and dividends received from foreign and domestic 
corporations. For part year returns, the amount of 
excess profit net income has been placed on an annual 
basis. 

The unused excess profits credit adjustment is the 
carryover of unused excess profits credit from preceding 
taxable years as reported on the return and does not take 
into account revisions that may subsequently be made as 



a result of a carryback from the succeeding year. Un- 
used excess profits credit accrues when the allowable 
credit for a tax year exceeds the excess profits net income 
for such year computed without regard to the net oper- 
ating loss deduction. Unused credit is first carried back 
as an offset to the excess profits net income of the first 
preceding year and the remainder is carried forward to 
succeeding taxable years. The carryforward period is 
5 years. 

Excess profits tax for 1952 is the tax imposed by section 
430 of the Internal Revenue Code (1939) upon the ad- 
justed excess profits net income. The excess profits tax 
tabulated for 1952 is after the limitations provided by 
sections 430 (a) (1) (C) and 430 (e), and after adjust- 
ments provided by sections 430 (d), 450, 456, and 457, 
but before adjustments under section 452 and before 
credit for taxes paid to a foreign country. For excess 
profits tax imposed in prior years, see Historical Section. 

Gross receipts from operations consists of amounts 
received from transactions in which inventories are not 
an income-determining factor. Cost of operations is 
shown as a deduction. 

Gross sales consists of amounts received for goods, less 
returns and allowances, in transactions where inventories 
are an income-determining factor. Cost of goods sold is 
shown as a deduction. 

Inactive corporations are those reporting no item of 
income or deduction. Such returns are filed in accordance 
with the regulation that a corporation having an existence 
during any portion of a taxable year is required to file a 
return. Returns of inactive corporations are not in- 
cluded in the various tabulations, but the number filed is 
shown in the summary data, page 5. 

Income tax consists of normal tax, surtax, and alter- 
native tax. Tabulated with the income tax for returns 
with net income is a small amount of tax reported on 
returns with no net income under the special provisions 
applicable to certain mutual insurance companies, other 
than life or marine. 

The income tax tabulated is before credit for foreign 
taxes paid. 

Industrial divisions and groups. See description of 
this classification, pages 10-11. 

Interest on Government obligations. Interest on 
obligations of the United States issued after September 1, 
1917 (other than postal savings certificates for deposits 
made before March 1, 1941), and on obligations of cor- 
porations organized under act of Congress is exempt from 
taxation only to the extent provided by the act authoriz- 
ing issuance of the obhgation. 

Interest reported on obligations described on lines 10 
(a) and (b), page 1, Form 1120 for 1952, is subject to 
surtax only. That reported on obligations described on 
line 10 (c) is wholly taxable. 

Wholly tax-exempt interest, received on obligations of 
States, Territories, or political subdivisions thereof, the 
District of Columbia, or United States possessions, and 
from certain obligations of the United States or its instru- 
mentalities is reported as item 19, schedule M, page 4, 



26 



COKPOKATION INCOME TAX RETUKNS FOR 1952 



Form 1120 for 1952. The amounts tabulated are less 
amortizable bond premium. 

Investments. "Investments, Government obligations" 
consists of obligations of all governmental units within 
the United States, its possessions and Territories. Where 
investments are not segregated as between "Government" 
and "Other" the entire amount is included in "Other 
investments." In table 6, "Investments" is the total 
amount of investments, both Government and non- 
Government. 

Liabilities. See "Assets and liabilities." 

Net gain or loss, sales other than capital assets is the 
net gain or loss from the sale or exchange of (1) depreci- 
able and real property used in trade or business, (2) 
short-term noninterest-bearing Government obligations 
issued on or after March 1, 1941, on a discount basis, 
(3) certain copyrights, literary, musical, or artistic 
compositions, or similar properties, and (4) securities by 
dealers. (See "Capital gain or loss" for treatment of 
certain depreciable and real property used in trade or 
business and held over 6 months.) 

Net income or deficit is the difference between the 
total income and the total deductions reported, exclusive 
of the net operating loss deduction. 

Net operating loss deduction consists of the net operat- 
ing loss carryover reported on the return and does not 
take into account a carryback of net operating loss from 
a succeeding tax year which may subsequently be made. 

The net operating loss is the excess of the deductions 
allowed by chapter 1 of the 1939 Code over the gross 
income after certain adjustments. A loss is first carried 
back against the net income of certain preceding taxable 
years and the excess, if any, may then be carried over 
to certain succeeding taxable years. 

A net operating loss sustained in a taxable year 
beginning in 1948 or 1949 could be carried back 2 years, 
and carried forward 3 years. For taxable years begin- 
ning after December 31, 1949, the carryback period is 
1 year and the carryover 5 years. 

Number of returns excludes returns of inactive cor- 
porations, except in the text table, page 5, and Historical 
Table 11 where "Total number of returns" includes 
returns of inactive corporations. 

Number of subsidiaries consists of the number of 
affiliated corporations other than the common parent 
corporations which are included in consolidated income 
tax returns. 

Other assets are those not reported separately on the 
return and include sinking funds; other funds; deferred 
charges; organization expenses; prepaid and suspense 
items; interest, discount, coupons, and dividends receiv- 
able; and guaranty deposits. "Other assets" of life 
insurance companies includes market value of real 
estate and bonds and stocks in excess of book value; 
interest, rents, and premiums due; and agents' balances. 



Other deductions includes (1) negative amounts re- 
ported uniler income, (2) losses by abandonment, fire, 
storm, sliipwreck, or other casualty (including war 
losses), and theft, (3) salaries and wages not deducted 
elsewhere on the return, and (4) amounts not otherwise 
reported, such as: Administrative, general, and office 
expenses; bonuses and commissions; delivery charges; 
freight and shipping expenses; payments in connection 
with lawsuits; research expenses; sales discount; selling 
costs; travel expenses; unrealized profits on installment 
sales; and Federal Deposit Insurance Corporation assess- 
ments reported by banks. 

Other liabilities includes deferred and suspense items; 
accrued expenses; dividends payable; funds held in trust; 
borrowed securities; outstanding coupons and certifi- 
cates; and overdrafts. "Other liabilities" of life insur- 
ance companies includes the net value of outstanding 
policies and annuities, and borrowed money. "Other 
liabilities" of banks includes deposits (time, savings, 
demand, etc.) and bank notes in circulation. 

Other receipts includes amounts not elsewhere re- 
ported on the return such as: Profit from sales of com- 
modities other than the principal commodity in which 
the corporation deals; income from minor operations; 
bad debts recovered; cash discounts; income from claims, 
license rights, judgments, and joint ventures; net 
amount under operating agreements; net profit from 
commissaries; profit on dealing in futures; profit on 
prior years' collections (installment basis) ; profit on 
purchase of corporation's own bonds; recoveries of bonds, 
stocks, and other securities; refunds for cancellation of 
contracts, for insurance, management expenses, and 
processing taxes; and income from sales of scrap, salvage, 
or waste. 

Part year returns are described in text, page 22. 

Pension plans include pension, annuity, stock bonus, 
profit-sharing, or other deferred compensation plans, 
contributions to which are deductible by the employer 
under section 23 (p) of the 1939 Code. 

Rents received consist of gross amounts. Deprecia- 
tion, repairs, interest, taxes, and other expenses, which 
are deductible from gross rents, are included in the l 
respective deduction items. 1 

Repairs is the cost of incidental repairs, including labor 
and supplies, which do not add materially to the value 
of the property or appreciably prolong its life. 

Returns with no net income are those returns with 
total deductions (exclusive of the net operating loss 
deduction) equal to or exceeding total income. 

Royalties consists of gross amounts received. Deple- 
tion based on royalties is reported in deductions. 

Surplus and undivided profits consists of paid-in or 
capital surplus and earned surplus and undivided 
profits. In table 6 the amounts tabulated for this item 



CORPORATION INCOME TAX RETI^RNS FOR 1952 27 

also include surplus reserves. "Deficit" consists of covenant bonds, and (6) unidentifiable amounts of 

negative amounts of earned surplus and undivided taxes reported in "Cost of goods sold" and "Cost of 

profits. operations." 

Taxes paid excludes (1) Federal income and excess Total compiled receipts excludes nontaxable income 

profits taxes, (2) estate, inheritance, legacy, succession, other than tax-exempt interest on certain Government 

and gift taxes, (3) income and profits taxes paid to a obligations. For items included, see table 3 or His- 

foreign country or possession of the United States if torical Table 13. 

any portion is claimed as a tax credit, (4) taxes assessed Unused excess profits credit adjustment. See "Excess 

against local benefits, (5) Federal taxes paid on tax-free profits income and credits." 



366266 O - 55 



TABLES FOR CORPORATION INCOME TAX 
RETURNS, 1952 

Page 

1 . Number of returns, net income or deficit, taxes, and dividends paid — 

all returns, by States and Territories (not prepared for 1 952) .... 30 

2. Number of returns, total compiled receipts, net income or deficit, 

taxes, and dividends paid — all returns, by major and minor in- 
dustrial groups 31 

2a. Number of returns, net income, selected excess profits data, and 
taxes — returns with excess profits net income over $25,000, by 
major and minor industrial groups 36 

3. Receipts and deductions — all returns, by major industrial groups . . 42 

4. Assets and liabilities, receipts and deductions — returns with 

balance sheets, by major industrial groups 54 

4a. Assets and liabilities, receipts and deductions — consolidated returns 

with balance sheets, by industrial divisions 70 

5. Assets and liabilities, receipts and deductions — returns with bal- 

ance sheets, by total assets classes 72 

5a. Assets and liabilities, receipts and deductions — consolidated re- 
turns with balance sheets by total assets classes 74 

6. Selected assets, liabilities, and receipts — returns with balance 

sheets, by total assets classes and major industrial groups 76 

7. Number of returns, net income or deficit, taxes, and dividends paid — 

all returns, by net income and deficit classes and industrial 
divisions 102 

8. Type of tax liability — all returns, by net income and deficit classes. 1 04 
8a. Number of returns, net income, selected excess profits data, and 

taxes — returns with excess profits net income over $25,000, by 
method of excess profits credit computation and net income 
classes 105 

9. Dividends received and interest received on Government obliga- 

tions — all returns, by net income and deficit classes 108 

1 0. Dividends paid — all returns, by net income and deficit classes .... 1 09 



29 



30 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table 1.— NUMBER OF RETURNS, NET INCOME OR DEFICIT, TAX, AND DIVIDENDS PAID— ALL RETURNS BY STATES AND TERRITORIES 



This table is not prepared for 1952- Table was published in 
Statistics ol Income lor 1951. Part 2, and will also be published 
in Statistics ol Income lor 1953, Pari 2. 



CORPORATION INCOME TAX RETURNS FOR 1952 



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32 



CORPORATION INCOME TAX RETURNS FOR 1952 



C-tSt»WCOCOtD COTOQO 



O Q^ O^ (T" O^ ^ G^ 



\ o o o o d c 



ilj ffl " § -J^ 



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f^ \o o r> 
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C-OCOiOC^ xD^OOCDAJ mu-lCOO t^lArHQ-Nt'^O vDiHC- lACMH lA-sfpNtMO f^Ocn C^OC^ i-HOCOCn CntniAmiAC^iAiA lAvOJ-O t^NOvO m 

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f^-J-'-ICNJ^J C^OC^CO^D OnO-^CO lANDiAC-COtAtn iAOCJn COiAAl C^CJNiAOrH COO^CO COOnOn 0>0>ACn CMvtC^OOf^HON (^OrHO C>TO(n"S 



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CORPORATION INCOME TAX RETURNS FOR 1952 



33 






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34 



CORPORATION INCOME TAX RETURNS FOR 1952 



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CORPORATION INCOME TAX RETURNS FOR 1952 



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CORPORATION INCOME TAX RETURNS FOR 1952 



37 



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23 



CORPORATION INCOME TAX RETURNS FOR 1952 



39 



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40 



CORPORATION INCOME TAX RETURNS FOR 1952 



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43 



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44 



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r- CO (> O rH CM 

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45 



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CORPORATION INCOME TAX RETURNS FOR 1952 



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54 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table 4.-ASSETS AND LIABILITIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROUPS 

PART I. -ALL RETURNS fflTH BALANCE SHEETS 



RETURNS, ASSETS, LtABILITIES, RECEIPTS, DEDUCTIONS. COMPILED NET PROFIT OR NET LOSS, NET INCOME OR DEFICIT. TAXES. AND DtVIDENDS PAID 



Major Industrial groups 



All 

Industrial 

groups 



Agriculture, forestry, and fishery 



Total 

agriculture, 

forestry, 

and 

fishery 



Farms and 
agricul- 
tural 
services 



Forestry 



Fishery 



Mining and quarrying 



Total 
mining and 
quarrying 



Metal 
mining 



Anthra- 
cite 

mining 



Bituminous 
coal and 

lignite 
mining 



Crude petro- 
leum and 
natural gas 
production 



Nonmetallic 
mining and 
quarrying 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other investments 

Gross capital assets (except land) 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, common^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations ( less amor- 
tlzable bond premium) : 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other Interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid • 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit or net loss (37 less 55).... 

Net Income or deficit (56 less 27) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax 

Compiled net profit less total tax (56 less 6l). 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



(1) 



(2) 



(3) 



U) 



(5) 



(6) 



(7) 



(8) 



(9) 



(10) 



3,904 



(ThotisBtid dollara) 



79,597,257 

142,776,720 

1,875,458 

64,520,152 
120,302,617 

132,511,693 

243,859,223 

84,283,341 

9,970,099 

14,485,302 



721,864,264 



35,327,181 

20,996,125 
30,628,003 

330,406,468 
15,831,0961 
85,365,302 
13,471,933 

146,463,517 
7,125,366 



721,864,264 



424,669,963 
73,694,733 



1,917,749 
115,007 
278,351 

7,097,239 

4,008,531 
526,660 
24,528 

1,311,692 

466,590 
2,325,478 

54^,420 
3,030,198 



525,011,139 



326,886,742 

44,710,198 

8,282,246 

4,406,438 

5,017,115 

928,879 

4,948,830 
11,572,804 

396,085 
9,492,670 
2,112,882 

827,309 

4,976,661 

2,538,428 

627,675 

314,102 
58,465,344 



486,504,408 



38,506,731 

38,228,380 

381,057 



17,464,824 
1,537,527 



19,002,351 



19,504,330 



11,196,079 
1,360,145 



190,547 

259,613 

2,569 

331,783 
95,883 

222,004 
1,350,549 
528,783 
364,710 
71,235 



2,355,072 



196,990 

137,500 
331,369 
128,889 
45,087 
781,856 
110,362 
709,366 
136,847 



2,355,072 



1,938,096 

455,701 



2,150 

65 

271 

4,584 

16,988 

8,626 

626 

37,049 

2,680 

6,641 

3,435 

23,162 



2,500,074 



1,458,599 

236,067 

56,001 

41,990 

44,088 

2,888 

19,384 
42,494 

1,131 
82,399 

4,719 
124 

13,083 

3,523 

657 

1,262 

351,747 



139,413 

139, U2 

7,022 



74,967 
1,791 



76,758 



58,122 
3,792 



176,608 
240,601 
2,436 
323,027 
85,357 

204,905 
1,247,302 
495,233 
346,712 
67,741 



2,194,534 



175,714 

175,532 
301,905 
114,985 
41,869 
715,234 
108,864 
660,604 
100,223 



2,194,534 



1,873,579 
419,687 



1,983 

65 

263 

4,313 

16,362 

8,287 

589 

27,787 

1,393 

6,485 

3,434 

22,129 



2,391,366 



1,408,797 

215,733 

53,058 

41,578 

42,353 

2,822 

18,259 
39,807 

1,095 
79,683 

2,737 
124 

12,890 

3,492 

647 

1,245 
337,516 



129,525 

129,257 

6,522 



70,913 
1,728 



55,712 
3,792 



9,227 
10,707 
(3) 
5,549 
5,887 

13,731 
64,415 
20,969 
14,500 
1,116 



104,100 



12,665 

7,101 
19,729 
12,018 

1,871 
45,601 

1,040 
32,726 
28,651 



104,100 



29,032 
12,442 



105 

186 

477 

339 

37 



1,278 

114 



24,999 

8,356 

1,205 

50 

98 

21 

536 
1,491 

18 

609 

1,831 



99 
29 

(=) 

(') 
3,342 



10,767 

10,767 

231 



3,438 
50 



3,488 



7,279 
2,120 



4,812 
3,305 
70 
3,207 
4,639 

3,368 
38,332 
12,531 
3,498 
2,378 



56,438 



3,611 

4,867 
10,235 

1,886 

1,347 

20,971 

458 

16,036 

7,973 



56,438 



30,485 
23,572 



(=) 



42 

1 
467 



24,303 

11,973 

1,733 

362 

1,637 

45 

589 

1,196 

18 

2,607 

101 



I') 



{') 
10,889 



'879 
*882 
269 



616 

13 



'1,503 



290 



970,259 

1,437,743 

14,593 

802,778 

899,832 

1,449,383 
U, 316,189 

5,238,786 
130,845 
280,367 



12,034,027 



968,116 

353,080 
1,332,506 

948,748 

309,723 
2,267,546 

341,703 
5,472,525 

459,920 



12,034,027 



7,641,933 
1,457,163 



14,635 
126 
344 

15,161 

29,034 

50,412 

1,542 

75,256 

9,111 

85,762 

8,515 

55,892 



4,846,738 

970,596 

103,621 

49,075 

135,395 

9,537 

68,122 

268,915 

4,480 

433,334 

702,607 

10,207 

12,867 

103,814 

13,972 

4,506 
763,998 



973,102 

972,753 

9,018 



439,616 
14,096 



469,390 



613,420 
41,373 



181,396 
261,721 
522 
183,346 
396,482 

330,103 
1,866,510 

945,819 
23,918 
82,783 



2,379,918 



208,050 

24,693 
282,672 
251,282 

50,019 
432,925 

46,957 
1,157,104 

83,784 



2,379,918 



1,241,331 
37,652 



5,804 
(') 
111 
2,609 

2,723 
3,660 
(') 

7,793 

136 

27,431 

5,115 

5,712 



1,340,135 



764,664 

26,159 

5,905 

4,195 

13,895 

37 

4,046 

44,614 

264 

34,295 

105,374 

5,057 

151 

7,731 

790 

390 
93,598 



1,117,236 



222,899 

222,788 

512 



100,795 
2,471 



139,928 
3,229 



27,473 
58,514 
2,124 
43,539 
22,496 

116,301 

470,338 

265,954 

6,437 

20,327 



497,847 



52,031 

13,515 
53,134 
31,992 
19,276 

137,735 
12,671 

189,937 
17,544 



497,847 



334,221 
104,029 



454 

14 

4 

555 

5,697 
3,422 
(5) 



U,388 

2 

1,909 



464,189 



288,830 

77,972 

4,477 

2,811 

8,394 

140 

1,957 

11,581 

129 

11,518 

5,337 

354 

1,917 
7,247 
1,524 

45 
30,262 



7,983 

7,979 

501 



3,136 
3 



4,844 
13,257 



175,235 
305,100 
2,362 
120,475 
177,545 

220,138 
1,959,442 

397,115 
16,853 
53,267 



2,129,578 



162,134 

42,532 
281,855 
128,415 

67,719 
379,581 

78,123 
1,015,067 

25,858 



2,129,578 



1,945,414 
262,858 



2,863 

17 

160 

3,243 

9,580 
2,592 



20, 506 

574 

8,063 

180 

13,667 



2,269,730 



1,487,237 

197,646 

20,879 

9,432 

47,534 

1,751 

11,416 
43,201 
350 
33,291 
57,410 
1,515 

2,593 
65,549 
7,941 

813 
155,941 



2,200,299 



59,431 

69,271 

1,504 



35,206 
257 



35,473 



51,537 
4,021 



469,043 
555,183 
6,634 
370,449 
245,937 

705,050 

6,128,292 

2,716,057 

56,899 

96, 560 



6,014,722 



481,054 

229,387 
1,134,965 

467,390 

142,153 
1,071,105 

145,293 
2,653,392 

310,028 



5,014,722 



3,152,584 
976,203 



4,557 
90 
24 

8,057 

3,383 
39,058 
1,464 

40,188 

8,066 
37,583 

3,217 
28,140 



4,317,514 



1,721,862 

602,152 

45,293 

27,400 

25,752 

5,703 

45,729 

138,715 

1,852 

252,349 

476,755 

2,058 

4,754 

20,637 

2,780 

2,554 
373,200 



558,059 

558,035 

5,617 



293,438 
8,703 



260,918 



359,678 
31,625 



(11) 



117,112 

145,230 

2,951 

84,959 

57,372 

77,796 

891,607 

413,841 

26,733 

25,930 



1,011,962 



64,797 

42,953 
74,870 
59,669 
30,546 

246,199 
58,559 

446,975 
22,706 



958,333 

106,421 



1,007 

3 

45 

697 

2,651 

1,680 

69 

4,314 

291 
1,292 

1 
6,454 



584,095 
66,657 
27,067 

5,236 
34,820 

1,856 

4,954 
25,804 

1,375 
51,931 
55,131 

1,113 

3,342 

2,550 

337 

703 
110,997 



976,538 



104,730 

104,685 

884 



52,041 
2,652 



49,020 
2,498 



See footnotes at end of table. See p. 24 for "Explanation of Terras" and p. 23 for "Description of the Sample and Lijnltatlons of CBta." 



CORPORATION INCOME TAX RETURNS FOR 1952 



55 



Table 4.-ASSETS AND UABILITIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROU PS-Continued 



PART I^ALL RETURNS WITH BALANCE SHEETS-Continued 

RETURNS, ASSETS, LIABILITIES, RECEIPTS, DEDUCTIONS, COMPILED NET PROFIT OR NET LOSS, NET INCOME. OR DEFICIT, TAXES. AND DIVIDENDS PAID 



jonatmctlon 



Major industrial groups-Continued 



Manufacturing 



Total 
manufacturing 



Beverages 



Food and 
kindred 
products 



Tobacco 
manufactures 



Textile^nill 
products 



Apparel and 

products 

made frcm 

fabrics 



Lumber 
and wood 
products, 

except 
furniture 



Furniture 

and 
fixtures 



Paper and 

allied 
products 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other investments 

Gross capital assets (except land) 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, coniroon^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts; 

Gross sales 

Gross receipts from operations 

Interest on Government obligations (less aroor- 
tlzable bond premium): 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Otiier receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit or net loss (37 less 55).... 

Net income or deficit (56 less 27) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax 

Compiled net profit less total tax (56 less 6l). 
Dividends paid: 

Cash and assets ot.her than own stock 

Corporation's own stock 



(12) 



(13) 



(U) 



(15) 



(16) 



(17) 



(18) 



(19) 



(20) 



(21) 



29,433 



113,711 



5,543 



(Thtmaand dollars) 



917,708 

3,388,764 

16,333 

793, 379 

169,024 

503,700 
2,188,875 
956,861 
104,148 
214,745 



7,307,149 



1,382,234 

522,146 
713,243 

1,707,716 

95,135 

940,235 

148,038 

1,938,688 
140,286 



7,307,149 



1,039,347 
13,765,107 



2,567 

39 

369 

6,105 

39,901 
1,526 

901 

42,203 

4,255 

12,923 

1,922 

130,182 



15,047,347 



839,848 
11,499,594 

467,867 
53,157 
76,255 
18,458 

47,761 

156,861 

10,517 

233,933 

4,770 

749 

33,846 

22,304 

8,530 

2,741 
974,585 



14,748,241 
27,414,309 
507,063 
41,800,500 
11,880,827 



14,040,762 265,983 
98,378,201 2,070,335 
42,838,887 726,211 



348,059 

479,308 

11,666 

1,262,579 

153,452 



2,133,325 
3,131,922 



170,282,137 



16,210,035 

6,572,880 
19,372,109 
18,630,854 

6,846,163 
31,883, 4B8 

6,402,843 
65,648,932 

1,285,167 



170,282,137 



250,576,102 
4,643,537 



208,333 
1,943 
4,281 

196,964 

335,297 

201,257 

4,078 

470,577 

11,063 

920,325 

393,671 

1,001,854 



258,969,287 



14,451,731 



595,566 
595,197 
26,234 



277,702 
25,993 



303,695 



291,871 



74,713 
29,745 



187,213,498 
2,661,194 
2,988,255 
1,072,211 
3,969,148 
179,002 

991,454 
6,150,381 

241, 325 
4,159,670 
1,274,750 

518,101 

2,855,612 

1,653,019 

432,593 

84,931 
22,296,433 



238,741,577 



20,227,710 

20,223,429 

151,322 



10,063,373 
1,284,192 



77,386 
115,354 



383,375 

162,929 
599,203 
349,329 
194,848 
503,826 

89,019 
1,805,291 

53,741 



4,034,579 



7,169,434 
37,452 



2,103 

9 

155 

6,028 

5,233 

2,207 

66 

4,600 

707 
2,732 
2,179 
31,083 



7,263,9 



4,537,056 
14,371 
56,419 
16,223 
46,895 
3,726 

30,235 

1,078,019 

7,217 

113, 159 

356 

1,096 

242,631 

19,768 

6,74* 

3,756 
660,393 



6,843,064 



420,924 

420,769 

5,510 



1,127,889 

1,8W,796 

37,005 

3,436,084 

527,007 

364,577 

7,130,558 

2,977,887 

300,075 

237,955 



12,570,049 



1,046,627 

909,613 
1,451,094 

916,175 

771,701 
2,530,838 

504,943 
4,585,293 

146,235 



124,394 

525,664 

2,783 

1,327,537 

11,145 

67,610 
323,942 
142,342 
10,417 
22,012 



12,570,049 



35,437,424 
114,603 



7,254 

75 

510 

19,046 

25,813 

6,260 

217 

21,745 



846 
18,799 
26,609 
92 ,405 



35,771,606 



29,557,615 

30,507 

219,099 

98,472 

297,662 

23,342 

106,413 

336,919 

12,920 

367,190 

959 

836 

557,991 
33,875 
19,762 

4,793 
2,918,056 



1,134,640 

1,134,130 

11,504 



5,664,736 
906,829 



222,397 
15,542 



182,985 



118, 576 
5,094 



597,331 
31,332 



346,587 
15,362 



62,294 

394,829 
635,363 
201,396 
223,397 
505,032 
44,142 
702,384 
741 



2,768,096 



3,631,273 
2,456 



182 
13 

41 
594 

3,223 

148 

1 

1,855 

12 

4,521 

730 

9,529 



2,130,121 

220 

9,275 

2,283 

5,152 

243 

28,335 

979,259 

1,022 

13,686 



124,216 
7,418 
1,776 

94 
118, 519 



3,421,619 



718,810 

1,345,220 

25,759 

2,404,735 

356,425 

551,957 

4,964,991 

2,040,636 

71,889 

136,668 



8,484,300 



636,492 

426,134 
723,656 
515,976 
464, 195 

1,613,656 
301,206 

3,359,767 
56,782 



8,484,300 



12,673,073 
216,205 



6,068 

40 

704 

8,719 

17,053 

4,133 

281 

18,220 

1,124 
13,666 

2,071 
62,736 



13,024,098 



401,724 

910,764 

19,244 

1,283,791 

72,331 

183,582 

669,193 

276,134 

22,055 

67,166 



3,315,223 



645,335 



280, 
217, 
285, 
162, 
702, 

52, 
1,064, 

96, 



8,652,840 
314,241 



1,102 

500 

84 

1,853 

7,607 

5,817 

16 

3,452 

477 

3,119 

136 

25, 698 



9,016,942 



308,231 
544,360 
11,217 
374,073 
203,999 

266,395 

2,206,326 

826,601 

74,035 

109,412 



3,754,563 



233,787 

212,321 
300,617 
284,206 

76,660 
876,901 

33,721 
1,695,490 

59,140 



3,754,563 



5,296,202 
95,262 



99 
3,986 

9,579 

3,499 

441 

171,353 

1,658 
6,024 

(') 

35,752 



5,628,537 



10,563,786 
146,338 
168,623 
43,742 
128,287 
6,269 

54,571 

185,463 

12,456 

215,234 

274 

1,351 

75,443 
38,364 
18,082 

12,546 
339,258 



12,510,142 



282,964 

282,923 

160 



144,409 
15,304 



123,251 



97,101 



513,956 

513,252 

7,876 



305,143 
11,114 



316,257 



197,699 



185,817 
18,934 



7,030,279 

252,733 

255,723 

77,782 

16,069 

7,972 

24,051 

99,990 

6,369 

47,229 

53 

144 

76,133 
19,187 
9,447 

1,945 
920,902 



170,934 

170,850 

9,287 



97,566 
3,297 



35,197 
8,425 



4,162,045 

66,750 

103,323 

16,091 

44,941 

7,835 

21,356 
83,153 
4,256 
118,664 
160,005 
2,140 

18,889 
9,020 
3,193 

1,732 
431,059 



5,260,462 



368,125 

368,026 

2,952 



157,303 
4,989 



162,297 



176,295 
332,897 

10,679 
506,384 

78,949 

60,747 

668,993 

234,727 

23,962 

31,465 



1,634,786 



190,015 

79,313 
106,986 
179,356 

51,964 
356,549 

36,016 
663,230 

29,143 



1,634,786 



3,324,352 
19,765 



1,137 
(4 
15 
1,262 

2,621 
546 

2,035 

127 

1,227 

1,051 

13,624 



3,367,765 



2,491,473 
5,788 
98,770 
24,350 
20,646 
4,437 

9,186 

47,994 

3,971 

37,516 

252 

230 

37,733 
10, 143 
4,065 

274 
376,722 



3,173,655 



194,110 

194,095 

4,485 



100,046 
11,556 



560,933 
695,695 
17,919 
965,577 
604,909 

659,603 

4,322,038 

1,667,852 

96,119 

176,017 



6,395,120 



339,411 

94,463 

876,900 

597,615 

336,653 

1,153,632 

230,439 

2,732,443 

16,486 



6,395,120 



7,654,147 
19,435 



12,821 

93 

130 

7,298 

7,864 

3,802 

72 

37,663 



308 
10,486 
12,272 
35,590 



7,802,036 



5,338,385 

8,552 

105,444 

30,426 

186,644 

4,213 

32,320 
126,226 

15,555 

169,390 

9,730 

13,373 

39,376 
48,830 
11,259 

1,763 
712,243 



943,252 

943,122 

917 



477, 519 
53,324 



205,828 
91,140 



82,503 



32,303 
15,097 



412,409 



200,386 
37,008 



See footnotes at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



56 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table 4.-ASSETS AND UABILITIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROUPS-Conlinued 



PART I .-ALL RETtlRNS WITH BALANCE SHZETS-Continued 

RETURNS. ASSETS. LIABILmES. RECEIPTS, DEDUCTIONS, COMPILXD NET PROFIT OR NET LOSS, fJET INCOME OR DEFlCfT, TAXES. AND DIVIDENDS PAID 



Major industrial groups-Continued 



Manufacturing-Continued 



Printing, 
publishing, 
and allied 
industries 



Chemicals 
and allied 
products 



Petroleum 
and coal 
products 



Rubber 
products 



Leather 

and 
products 



Stone, 

clay, 

and glass 

products 



Primary 

metal 

industries 



Fabricated 
metal prod- 
ucts, except 
ordnance, 
machinery, 
and trans- 
portation 
equipment 



Machinery, 

except 
transpor- 
tation 
equipment 

and 
electrical 



Electrical 
machinery 

and 
equipment 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other investments 

Gross capital assets (except land) 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

Maturity 1 year or iDore 

Other liabilities 

Capital stock, preferred 

Capital stock, common^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations ( less ajDOr- 
tizable bond premium): 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid 

TaxeB paid 

Contributions or gifts 

Depreciation 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Ajmunts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit or net loss (37 leas 55) 

Net Income or deficit (56 less 27) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax 

Compiled net profit less total tax (56 less 61). 
Dividends paid: 

Cash and asseta other than own stock 

Corporation's own atock 



(22) 



(23) 



(24) 



(25) 



(26) 



(27) 



(28) 



(29) 



(30) 



(31) 



2,836 



10,519 



10,500 



(Thouaand dollars) 



6<7,315 

1,038,212 

37,962 

634,468 

327,603 

653,873 
2,733,267 
995,147 
133,204 
176,516 



5,411,349 



528,661 

170,955 
472,542 
722,809 
293,575 
887,830 
195,089 
2,247,489 
107,601 



5,411,349 



7,122,796 
672,861 



6,118 
189 
383 

4,949 

18,376 

12,547 

(=) 

9,538 

1,136 
19,555 

4,530 
52,012 



7,925,020 



4,873,335 

374,773 

261,544 

81,673 

39,208 

23,760 

25,445 
112,118 
11,607 
121,673 
262 
195 

50, 319 

43,264 

8,113 

3,878 
1,280,724 



7,311,891 



613,129 

612,746 

8,134 



298,509 
24,957 



132,570 
33,090 



1,355,681 
1,917,135 
48,944 
2,938,440 
1,499,942 

1,772,167 

9,822,178 

3,997,464 

178,896 

294,660 



15,732,691 



1,050,738 

481,217 
2,181,005 
1,680,613 

915,137 
2,586,129 

467,166 
6,471,127 

100,441 



15,732,691 



17,463,987 
74,537 



26,710 

67 

529 

21,508 

15,436 

31,503 

357 

27,538 

208 

117,938 

38,573 

61,614 



11,339,519 
24,187 

182,886 
62,745 

337,141 
12,496 

91,240 
240,560 

27,726 
447,831 

43,689 

84,100 

508,551 
136,523 
30,714 

5,236 

2,070,181 



15,645,325 



2,235,180 

2,234,651 

6,694 



1,110,636 
158,169 



706,629 
96,486 



1,413,866 
2,853,633 
33,997 
2,530,331 
1,729,173 

3,599,588 

20,584,422 

9,924,380 

336,766 

231,573 



23,326,025 



1,891,520 

208,592 

3,270,908 

886,361 

306,055 

6,861,461 

1,111,397 

8,322,785 

33,054 



23,326,025 



22,939,676 
805,655 



30,073 

12 

120 

21,639 

121,902 

44,042 

1,294 

40,370 

231 
534,167 
123,320 
144,335 



24,806,336 



17,271,634 

424,224 

41,638 

184,938 

407,927 

9,075 

91,623 

540,807 

10,011 

645,603 

910,374 

40,900 

111,151 

208,241 

47,293 

1,606 
2,102,817 



23,049,862 



1,756,974 

1,756,854 

4,310 



648,286 
11,443 



1,166,332 
264,839 



229,776 
710,133 
13,678 
828,448 
178,726 

155,137 
1,470,458 

738,197 
23,203 
23,925 



2,867,936 



263,611 

33,940 
593,829 

340,905 
168,179 
340,116 
151,508 
980,665 
4,817 



4,773,451 
9,587 



4,102 



3,519 

3,334 

3,644 

25 

2,856 

25 
16,462 
33,713 
11,384 



4,862,612 



3,528,677 
(') 

28,289 

18,574 

82,429 

4,096 

18,773 

120,464 

5,858 

68,602 

63 

4,006 

57,125 
29,683 
2,317 

2,938 

510,716 



4,483,111 



379,501 

379,497 

823 



189,885 
27,951 



33,000 
10,419 



165,139 
374,613 
8,274 
543,962 
46,227 

123,011 

431,516 

210,720 

14,369 

27,112 



1,506,955 



187,801 

89,809 
128,222 
116,355 

69,321 
305,366 

63,997 
567,876 

21,792 



3,235,061 
26,618 



10 

1,043 

1,978 

370 

18 

1,306 

28 

1,159 

23 

13,374 



3,281,653 



2,622,272 
22,240 
68,520 
21,201 
19,825 
2,429 

9,968 

44,636 

2,903 

24,679 

383 

35 

35,918 
9,022 
3,341 

1,580 
274,605 



3,163,557 



113,096 

118,036 

5,549 



61,276 
4,032 



31,369 
3,115 



433,224 
606,676 
13,239 
766,763 
406,699 

251,379 

3,037,647 

1,306,885 

75,318 

77,507 



4,390,089 



313,853 

99,340 

393,893 

439,454 

136,967 

1,012,657 

164,232 

1,857,863 

33,170 



4,390,089 



5,485,789 
21,191 



6,848 

54 

348 

2,658 

5,568 

5,191 

107 

12,336 

124 
9,098 
10,648 
26,380 



5,586,840 



3,667,700 
10,122 
95,874 
20,694 
133,509 
5,331 

18,335 
93,617 
6,741 
142,211 
40,135 
21,941 

43,331 
35,615 
8,296 

2,120 
594,219 



4,939,841 



646,999 

646,651 

2,787 



328,387 
43,754 



274,858 



164,983 
13,896 



1,424,015 
1,863,095 
38,621 
3,067,311 
1,167,011 

1,237,733 
14,853,857 

7,065,456 
175,674 
285,150 



16,969,774 



1,514,403 

371,168 
2,875,475 
1,585,227 

889,050 
3,181,308 

481,881 

6,092,589 

21,327 



16,969,774 



19,574,206 
573,622 



29,436 
123 

177 
28,894 

22,847 

6,475 

79 

23,933 

194 
50,388 
16,326 
43,019 



20,374,719 



14,637,654 

334,060 

138,184 

65,763 

981,200 

6,706 

137,955 
345,928 

21,693 
436,133 

98,533 
184,795 

53,306 

244,197 

51,418 

22,690 
916,307 



1,698,147 

1,697,970 

3,054 



859,256 
94,541 



953,797 



744,350 



478,389 
57,638 



816,061 

1,351,648 

37,354 

2,243,274 

358,960 

375,164 

3,640,003 

1,496,792 

126,062 

162,081 



7,539,107 



708,898 

309,142 
599,199 
807,501 
281,302 

1,461,487 
239,540 

3,194,694 
62,656 



7,539,107 



12,314,236 
91,448 



5,997 
143 
129 

4,252 

14,851 

5,358 

120 

21,654 

798 
13,750 
15,854 
78,667 



12,567,257 



9,051,935 
55,820 

304,449 
55,892 

183,069 
11,266 

37,736 
181,415 

13,704 

190,390 

230 

15,021 

125,619 
78,238 
21,460 

3,339 
1,228,388 



1,009,286 

1,009,157 

12,431 



503,329 
53,776 



557,605 



451,681 



211,425 
85,196 



1,571,517 
2,999,065 
63,919 
5,222,619 
1,029,493 

799,914 

6,241,207 

2,642,456 

162,065 

263,026 



15,582,531 



1,533,614 

636,345 
1,666,466 
2,031,566 

537,658 
2,797,306 

733,487 

5,694,582 

98,493 



15,582,531 



21,470,171 
424,527 



12,955 
159 
447 

18,453 

18,545 

29,711 

214 

19,570 

1,839 
20,772 
25,393 
99,655 



15,005,806 
65,626 

360,986 
84,580 

335,580 
15,317 

88,238 
350,786 

30,322 

355,957 

1,919 

41,745 

200,440 
177,364 
47,047 

6,282 

2,571,731 



2,402,185 

2,401,738 

20,265 



1,218,767 
209,347 



1,428,114 



974,071 



437,997 
83,541 



747,229 

2,127,315 

25,582 

3,121,784 

902,646 

836,250 

3,059,482 

1,164,923 

75,450 

151,093 



9,830,744 



1,388,318 

363,590 

913,125 
1,891,078 

215,755 
1,455,750 

398,726 
3,306,503 

102,101 



9,330,744 



14,669,529 
72,707 



10,848 
46 
75 

11,742 

10,237 

17,567 

579 

13,860 

240 
24,530 
17,567 
52,087 



10,647,635 

20,957 

138,547 

52,371 

172,136 

8,691 

51,017 
320,917 

16,265 

190,440 

1,793 

22,652 

220,098 
168,882 
44,706 

3,025 
1,252,197 



13,332,329 



1,569,285 

1,569,210 

16,101 



801,087 
163,652 



964,739 



314,544 
30,805 



See footnotes at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



CORPORATION INCOME TAX RETURNS FOR 1952 



57 



Table 4.-ASSETS AND LUBILITIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRUL GRO UPS-Continued 

PART I. -ALL RETURNS WITH BALANCE SHEETS-Continued 

RETURNS, ASSETS, LIABILITIES, RECEIPTS, DEDUCTIONS, COMPILED NET PROFIT OR NET LOSS, NET INCOME OH DEFICIT, TAXE:S, AND DIVIDEINDS PAID 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other Investments 

Gross capital assets (except land) 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, coramon^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations (less amor- 
tizable bond premium): 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign t:orporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Anounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit or net loss (37 less 55).,., 

Net income or deficit (56 less 27) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax 

Compiled net profit less total tax (56 less 6l). 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



Major Industrial groups— Continued 



Manufacturing-Continued 



Transpor- 
tation 

equipment, 

except 

motor 

vehicles 



(32) 



Motor 

vehicles and 
equipment, 

except 
electrical 



(33) 



Ordnance 

and 
accessories 



(3-i) 



Scientific 
instruments; 

photographic 

equipment ; 

watches , 

clocks 



(35) 



Other 
manufac- 
turing 



(36) 



Public utilities 



Total public 
utilities 



(37) 



Transpor- 
tation 



(38) 



Communi- 
cation 



(39) 



Electric 

and gas 

utilities 



(■iO) 



Other 

public 

utilities 



(41) 



(Thtxiaand dollar*) 



531,165 

1,610,793 

5,687 

2,i25,240 

104,898 

174,626 
1,694,824 
833,219 
44,890 
143,684 



5,891,214 



910,0X 

490,371 
311,475 

1,895,605 
114,898 
569,042 
144,921 

1,514,007 
59,139 



5,891,214 



8,550,394 
935,559 



155 
4,719 

3,664 
7,672 
(3) 

4,435 

112 
7,096 
2,403 
33,956 



7,180,577 

751,845 

48,986 

29,859 

140,813 

2,422 

34,221 
135,790 
5,585 
71,016 
35 
27,224 

17,744 
46,797 
19,605 

2,524 

444,142 



592,716 

592,561 

11,796 



1,068,649 
1,893,128 
12,634 
2,856,006 
1,803,879 

782,863 

5,897,858 

2,469,833 

89,155 

272,521 



12,186,592 



1,729,068 

312,191 

460,464 
2,101,499 

412,617 
1,075,480 

740,635 

5,427,677 

73,039 



12,186,592 



19,708,022 
33,310 



33,410 
284 
101 

18,901 



7,508 
4,615 



9,979 

85 
37,379 
51,415 
34,327 



15,019,131 
18,548 
63,307 
22,388 
273,872 
2,733 

39,970 
542,838 

11,594 

241,859 

2,264 

38,494 

99,619 

177,744 
48,327 

723 
910,542 



37,445 

43,224 

924 

101,030 

26,739 

43,768 
169,267 

84,153 
4,052 
6,466 



346,914 



35,428 

7,638 
65,120 
48,398 
14,558 
30,274 
17,876 
135,362 

7,740 



346,914 



435,624 
10,881 



13 
272 

1,836 
317 
(') 

1,204 

11 
527 

2,227 



453,404 



2,425,472 

2,425,371 

3,625 



312,786 
67,519 



103,539 
33,627 



1,246,490 
221,453 



1,467,943 



564,143 
17,017 



322,621 

417 

4,670 

1,275 

11,499 

98 

2,819 
9,051 

905 
7,736 
1,339 

251 

2,625 
6,120 

448 

58 
26,695 



398,627 



54,777 

54,764 

1,126 



196,380 
587,533 
10,148 
829,831 
182,295 

121,934 
1,020,170 

447,806 
24,691 
42 ,951 



2,547,836 



216,683 

164,763 
247,103 
407,869 

86,905 
445,993 

82,113 
911,962 

15,555 



2,547,836 



3,518,919 
12,017 



2,680 
22 
24 

2,880 

3,219 

3,421 

28 

4,556 

22 

3,066 

6,093 

17,236 



3,574,183 



2,331,857 
4,800 
59,730 
18,550 
51 ,939 
3,246 

15,843 
81,364 

7,381 

55,698 

112 

8,055 

70,076 
35,537 
16,514 

106 
430,755 



338,894 

683,342 

19,328 

1,029,733 

103,319 

192,396 
1,265,669 

519,066 
43,592 
77,608 



3,195,659 



344,069 

223,509 
281,762 
345,641 
122,601 
629,956 

68,635 
1,265,129 

85,643 



3,195,659 



5,425,491 
54,548 



1,513 
32 
28 

2,749 

6,503 

2,407 

34 

15,469 

751 

3,864 

2,739 

25,164 



5,541,297 



3,191,568 



27,466 
5,894 



21,417 



13,882 
267 



382,615 

382,591 

3,485 



194,082 
33,670 



81,316 
49,980 



3,902,380 

23,265 

173,469 

42,339 

52,705 

7,744 

21,299 

38,062 

4,764 

77,724 

1,990 

4,417 

87,223 
19,137 
8,161 

1,918 
705,257 



3,502,941 
3,741,292 
38,713 
2,352,247 
2,829,535 

7,707,254 

83,510,794 

21,654,354 

660,991 

2,429,243 



90,041,235 



3,097,728 

1,013,677 
33,061,641 

6,835,425 

4,786,965 
22,371,847 

1,242,521 

13,532,424 

950,993 



90,041,235 



339,170 
36,871,837 



48,177 

236 

952 

106,456 

431,064 

12,430 

933 

103,351 

5,812 

243,880 

18,311 

164,630 



38,347,839 



237,338 

22,827,269 

318,716 

369,059 

60,035 

43,060 

1,138,041 
2,225,558 

21,545 
2,369,040 

49,205 
287,181 

128,929 
347,324 
89,615 

23,760 
2,412,627 



2,225,388 
2,101,639 
9,755 
1,097,398 
1,565,643 

4,279,911 

38,621,162 

10,655,499 

248,254 

1,534,045 



41,003,241 



2,142,349 

369,753 

12,963,371 

3,519,648 

1,404,205 

8,949,440 

600,478 

11,882,252 

823,255 



41,008,241 



167,147 
21,883,625 



28,317 
223 
457 

61 ,280 

371,819 

7,494 

818 

90,083 

2,769 

93,194 

3,161 

135,837 



241,457 
632 ,465 
5,521 
215,809 
750,530 

1,526,496 

14,419,405 

3,961,707 

27,382 

213,572 



14,059,888 



203,213 

90,512 

4,539,414 

1,301,541 

250,479 

5,544,413 

60,453 
2,093,315 

23,457 



14,059,888 



22,851,224 



33,448,302 



314,443 

314,415 

3,451 



160,912 
17,526 



178,438 



62,561 
13,105 



4,899,537 

4,898,585 

36,113 



2,431,978 
40,064 



2,472,042 



1,903,577 
50,380 



118,913 
15,196,673 
241,031 
733,027 
43,879 
13,693 

435,947 

1,094,947 

7,332 

1,032,074 

18,521 

259,606 

77,371 
60,433 
23,023 

7,012 
1,511,532 



1,915,600 

1,915,143 

19,491 



956,673 
26,747 



476,037 
26,930 



37,117 
5,560,244 



9,239 

6 

52 

9,850 

33,237 

1,764 
87 

5,811 

2,530 

98,745 

1,607 

7,377 



5,767,666 



28,713 
2,963,927 
29,880 
33,304 
6,129 
16,132 

153,090 

383,445 

4,027 

468,650 

5 

391 

29,709 
170,447 
41,349 

716 
392,804 



997,986 

968,756 

22,619 

1,016,790 

494,242 

1,851,461 

34,289,321 

6,801,540 

367,479 

656,884 



33,818,760 



719,516 

497,891 

15,065,669 

1,981,129 

3,040,774 

7,629,893 

570,053 

4,390,802 

76,967 



33,318,760 



132,536 
9,196,263 



10,274 
6 

369 
34,846 

24,866 

2,661 

27 

6,075 

396 
45,452 
13,543 
18,409 



9,485,723 



4,772,718 



994,948 

994,896 

2,711 



478,227 
4,012 



445,033 
1,995 



87,831 

4,561,722 

42,307 

49,743 

3,194 

8,037 

480,371 

724,822 

9,463 

846,095 

30,505 

27,161 

21,650 

115,318 

24,862 

15,704 
486,571 



38,110 
38,382 
318 
22,250 
19,115 

49,386 

1,130,906 

235,608 

17,876 
24,747 



1,154,346 



32,650 

55,521 
493,187 

83,107 

91,507 
248,096 

11,537 
166,055 

27,314 



2,370 
231,755 



347 

1 

74 

480 

1,142 
561 
(3) 

1,882 

117 
1,439 



7,535,361 



1,950,362 

1,949,993 

13,610 



979,106 
9,115 



988,221 



967,483 
20,390 



1,876 
104,947 
5,498 
2,980 
1,833 
198 

13,633 
22,344 

173 
22,221 

174 
23 

199 

1,071 

381 

328 
21,720 



204,599 



38,627 

38,553 

301 



17,972 
190 



20,024 
1,065 



See footnotes at end of table. See p. 24 for "EScplanation of Terms" and p. 23 for "Description of the Sample and Limitations of Ebta." 



58 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table 4.-ASSETS AND UABIUTIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROUPS-Contiuued 

PAST I. -ALL RETURNS WITH BiOJUICE SHEETS-Continued 

RETURNS. ASSErre, LIABILITIES, RECEIPTS. DEDUCTIONS. COMPILED NET PROFIT OR NET LOSS. NET INCOME OR DEFICIT, TAXES, AND DIVIDENDS PAID 



Major industrial groups-Continued 



Trade 



Total trade 



Total 
wholesale 



Commission 
merchants 



Other 
wholesalers 



Total 
retail 



General 
merchandise 



Apparel 

and 

iccessories 



Furniture 
and house 
furnishings 



Automotive 

dealers and 

filling 

stations 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other investments 

Gross capital assets (except land) 

Less: Reserves 

Land 

Other assets 

"Kjtal assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, common^ 

Surplus reserves 

Surplus and undivided profits 

Less: Def ici t 

Total liabilities 

Receipts: 

Cross sales 

Gross receipts from operations 

Interest on Government obligations (less amor- 
tizable bond premium) : 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business properly 

Repairs 

Bad debts 

Interest paid 

Taxea paid 

Contributions or gifts 

Depreciation 

Depletion 

Amorllzallon 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total complied deductions 

Compiled net profit or net loss (37 less 55) 

Net Income or deficit (56 less 27) 

Net operating loss deduction 

Income tax 

Excess prof I ts tax 

Total tax 

Complied net profit leaa total tax (56 leas 61), 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



(42) 



(13) 



(«) 



(45) 



(i6) 



(■47) 



(18) 



(19) 



(50) 



(51) 



10,937 



22,590 



(Thousand doltara) 



6,023,122 

15,829,709 

165, 110 

17,802,037 

1,369,670 

3,799,050 
11,176,570 
5,642,222 
1,311,089 
1,287,556 



55,791,711 



,226,172 
,571,902 
,651,158 
,737,681 
,730,108 
,171,571 
,716,612 
863,631 



55,791,711 



161,383,853 
2,713,111 



21,186 

101 

1,873 

136,335 

266,995 
19,150 
6,039 

116,023 

12,066 

83,559 

55,762 

1,213,181 



166,063,131 



131,201,759 

1,203,737 

2,700,021 

1,610,107 

393,865 

253,117 

382,757 

1,119,213 

68,073 

1,012,519 

23,175 

7,368 

1,554,571 
218,361 
13,763 

21,136 
19,193,761 



161,675,911 



1,387,520 

1,385,647 

64,207 



2,118,773 
107,131 



2,225,907 



2,161,613 



989,257 

162,113 



2,625,935 
8,516,773 

175,792 
8,171,636 

603,988 

2,171,538 

1,623,178 

1,769,889 

325,856 

182,837 



25,579,360 



5,631,171 

2,531,116 
1,932,112 
1,859,911 

665,978 
1,596,182 

189,038 
8,232,119 

362,203 



25,579,360 



80,699,121 
1,822,259 



10,032 
175 
311 

56,711 

68,592 
11,411 
2,441 

46,746 

3,765 

46,637 

45,056 

459,519 



83,276,172 



70,617,069 

798,318 

1,183,716 

299,002 

122,525 

91,160 

185,339 
561,000 

26,991 
310,281 

18,528 
5,408 

390,070 
79,122 
17,880 

6,369 
6,665,979 



81,111,760 



1,864,412 

1,864,098 

27,109 



889,986 
.46,677 



936,663 



387,921 
92,116 



338,127 
861,120 

15,829 
171,366 

77,174 

306,031 

207,881 

66,091 

13,781 

12,837 



560,512 

154,641 
131,525 
115,991 

15,656 
307,811 

31,298 
600,607 

11,077 



3,793,716 
720,181 



1,279 

6 

15 

9,761 

5,562 

1,552 

169 

5,981 

210 

8,269 

1,069 

13,382 



3,539,682 

180,113 

139,336 

25,211 

3,159 

5,917 

12,136 
19,875 
1,906 
15,292 
513 
337 

25,778 
7,965 
1,111 

109 
481,197 



1,160,810 



130,688 

130,643 

3,021 



58,620 
3,272 



61,892 



23,635 
7,368 



2,287,508 
7,655,353 

159,963 
8,003,270 

526,811 

1,865,507 

4,115,597 

1,703,798 

312,075 

110,000 



23,642,363 



5,070,962 

2,379,772 
1,800,587 
1,713,923 

620, 322 
1,288,611 

157,710 
7,631,512 

321,126 



23,612,363 



76,905,678 
1,101,775- 



8,753 

169 

269 

16,980 

63,030 

12,879 

2,272 

10,762 

3,555 

38,363 

13,987 

116,167 



67,077,387 
613,205 
1,011,380 
273,788 
119,066 
85,213 

173,203 
541,125 

25,085 
321,992 

18,015 
5,071 

361,292 
71,157 
16,169 

5,960 
6,181,182 



1,733,721 

1,733,155 

21,085 



831,366 
43,405 



364,286 

84,748 



3,100,772 
6,367,966 

262,112 
8,598,626 

732,347 

1,425,759 

8,873,520 

3,462,329 

888,097 

713,916 



27,011,562 



3,608,504 

1,137,951 
2,363,310 
2,539,998 

971,771 
5,131,109 

623,101 
10,424,714 

439,199 



27,011,562 



72,662,197 
705,934 



13,788 
183 
379 

74,536 

178,138 
3,354 
3,305 

60, 187 

7,727 

33,050 

10,251 

715,505 



51,191,319 

316,173 

1,336,588 

1,261,880 

217,833 

115,737 

175,913 

763,568 

38,157 

630,832 

3,131 

1,611 

1,078,912 
130,812 
23,809 

13,955 
11,751,318 



72,141,971 



2,323,866 

2,323,187 

32,218 



1,139,133 
55,156 



559,169 

63,012 



525,727 
312,161 
6,189 
978,573 
47,890 

146,077 
1,560,781 
591,187 
87,662 
110,833 



3,202,031 



626,961 

91,170 
312,883 
275,233 
193,952 
538,823 

71,115 
1,103,266 

17,672 



3,202,031 



17,530,898 
32,561 



782 

9 

93 

4,862 

12,752 
675 
221 

8,393 

164 
2,938 
3,811 
31,672 



11,316,721 

15,161 

100,799 

156,037 

55,691 

8,515 

19,180 

120,988 

6,317 

123,782 

189 

11 

95,091 
31,621 
9,711 

1,799 
2,216,779 



321,376 

321,283 

2,707 



161,861 
9,681 



119,323 



78,083 
8,152 



901,792 
2,137,005 

110,738 
2,551,174 

453,128 

176,875 

2,739,757 

1,061,851 

310,721 

225,833 



8,623,696 



946,576 

203,101 
656,162 
827,410 
112,576 

1,519,515 
330,875 

3,721,685 
27,837 



8,623,696 



16,557,918 
67,358 



8,007 

88 

65 

23,203 

71,536 
298 
42 

10,179 

221 

12,918 

5,931 

171,695 



10,923,199 

15,363 

113,558 

320,750 

65,960 

29,717 

12,127 

212,838 

13,332 

113,191 

595 

37 

111,293 
75,791 
1,191 

3,590 
3,503,923 



15,910,138 



1,025,021 

1,021,959 

3,041 



520,890 
30,031 



299,111 
12,160 



301,181 
569,458 

16,715 
937,269 

59,152 

161,036 

693,716 

297,015 

33,457 

67, 388 



2,508,927 



157,773 

108,173 
220,117 
207,552 
109,239 
198,328 

25,396 
913,213 

60,899 



2,508,927 



5,502,066 
55,314 



1,567 

6 

35 

2,390 

25,137 
87 
51 

1,706 

272 

1,470 

173 

92,139 



5,686,046 



3,633,965 

21,062 

153,003 

279,875 

15,090 

17,010 

12,176 

62,586 

3,630 

51,939 

21 

188 

117,388 
5,501 
1,671 

965 
1,121,923 



5,512,379 



113,667 

113,632 

3,917 



68,225 
1,623 



31,131 
3,627 



121,610 
819,953 

30,192 
515,735 

24,163 

87,718 
268,334 
112,411 
28,583 
42,582 



1,829,160 



245,352 

173,539 
116,077 
263,778 

51,077 
399,292 

10,914 
559,308 

50,177 



1,829,160 



2,952,259 
62,362 



7,530 

5,329 
18 
39 

2,314 

413 

1,167 

1 

134,617 



3,166,716 



1,922,801 
23,610 
126,970 
76,912 
9,135 
22,344 

14,149 

37,326 

1,922 

23,552 

9 

202 

102,709 

1,709 

669 

713 
730,902 



3,096,467 



70,279 

70,263 

2,837 



14,167 
966 



45,133 



15,878 
6,013 



630,176 
922,329 

25,313 
1,501,257 

70,283 

218,063 
1,300,032 
131,111 
223,373 
144,513 



4,553,904 



112,637 

153,588 
360,168 
396,902 

56,835 
885,893 

63,280 
1,957,168 

12,617 



1,553,901 



16,297,705 
253,727 



1,291 
39 

36 
21,715 

21,086 
393 

1,062 

15,697 

2,759 

1,007 

130 

113,978 



15,733,629 



13,616,151 
110,015 
355,021 
131,917 
35,917 
25,703 

11,959 

108,917 

5,923 

102,962 

222 

555 

169,072 
5,039 
3,379 

2,140 
1,600,393 



16,349,348 



383,781 

383,715 

1,217 



169,623 

4,511 



209,647 



53,193 
14,431 



See footnotes at end of table. See p. 21 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data," 



CORPORATION INCOME TAX RETURNS FOR 1952 



59 



Table 4.-ASSETS AND UABIUTIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS. BY MAJOR INDUSTRUL GROU PS-Continued 

PART I. -ALL RETURNS WITH BALANCE SHEETS-Continued 

RETURNS, ASSETS, LlABrUTlES, RECEIPTS, DEDUCTIONS, COMPILED NET PROFIT OR NET LOSS. NET INCOME OR DEFICIT, TAXES, AND DIVIDENDS PAID 



Major industrial groups-Continued 



Tra de-Cont i nue d 



Retail— Continued 



Drug 
stores 



Eating and 
drinJdng 
places 



Building 

materials 

and 

hardware 



Other 

retail 
trade 



Trade not 
allocable 



Finance, insurance, real estate, and lessors 
of real property 



Total finance, 
insurance,^ 
real estate, 

and lessors of 
real property 



Total finance 



Banlcs and 

trust 
companies 



Credit 

agencies 

other than 

ban]cs 



63 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other investments 

Gross capital assets (except land) 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

fcJaturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, common^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations (less amor- 
tlzable bond premium) : 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad deb ts 

Interest paid 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other en^loyee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit or net loss (37 less 55).... 

Net income or deficit (56 less 27) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax 

Compiled net profit less total tax (56 less 6l) . 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



(52) 



5,299 



52,797 

1,099 

278,719 

9,320 

33,913 

256,179 

107,723 

6,880 

16,409 



626,288 



102,441 

18,149 
81,026 
49,030 
20,796 

125,164 
12,495 

227,880 
10,693 



626,288 



1,734,801 
10,4^2 



140 
3 



(=) 



7,065 
134 



967 

143 

1,615 

84 

13,312 



1,769,402 



1,194,958 

1,059 

47,014 

56,374 

7,304 

685 

4,356 

23,184 

925 

18,921 

167 

11 

24,008 

2,079 

377 

377 
340,633 



46,970 

46,967 

1,475 



21,327 
1,227 



22,554 



11,591 
3,132 



(53) 



(54) 



(55) 



(56) 



(57) 



(58) 



(59) 



13,861 



166,749 



39, 7U 



(JTtouaand dollara) 



112,667 

59,460 

347 

83,079 

12,227 

51,475 
700,706 
286,751 
44,690 
43,117 



820,323 



126,858 

51,823 
154,359 

90,436 
24,514 

217,660 
7,490 

230,869 
83,666 



820,323 



2,289,668 
69,870 



9 

379 

8,647 

300 

1,291 

3,638 

951 
1,075 

14,728 



2,390,790 



190,808 
684,522 

19,039 
967,640 

24,492 

102,871 

563,221 

240,674 

67,711 

33,913 



292,042 

206,131 
158,272 
141,930 

36,857 
648,086 

26,890 
399,227 

33,970 



2,375,465 



4,776,385 
38,355 



409 

15 

98 

6,627 

8,914 

1,301 

221 

9,627 

1,553 
2,299 

55,957 



1,250,739 

35,337 

90,070 

113,574 

25,728 

895 

6,380 
51,948 
1,071 
53,290 
81 
36 

18,578 
2,093 
1,411 

2,9U 
697,660 



2,351,802 



38,988 
38,979 
4,384 



25,863 
1,716 



27,579 



10,683 
107 



3,715,916 
23,994 
162,031 
31,483 
14,734 
17,181 

17,381 
51,570 

2,388 
45,136 

1,700 
68 

34,601 

2,448 

951 

674 
611,844 



229,593 
750,278 

22,510 
755,130 

31,692 

U7,726 

795,794 

330,303 

55,015 

59,353 



2,471,768 



397,814 

178,672 
243,946 
287,697 

65,925 
568,648 

41,646 
769,068 

81,648 



2,471,768 



5,020,797 
115,915 



774 

13 

24 

7,136 

14,372 
118 
372 

7,636 

918 

2,561 

100 

81,107 



167,682 

167,584 

2,543 



69,408 
2,880 



95,394 



30,156 
8,916 



3,586,590 
67,509 
182,122 
94,958 
17,944 
23,097 

17,635 
64,211 
2,549 
65,056 
147 
470 

76,202 
4,558 
1,149 

786 
923,761 



5,128,744 



296,715 
944,970 

27,206 
1,028,775 

33,335 

201,753 

974,572 

410,004 

97,136 

60,773 



3,200,819 



577,160 

203,802 
276,480 
251,246 

99,932 
702,217 

62,432 
1,089,779 

62,229 



3,200,819 



8,021,932 
185,218 



666 

43 

1,180 

5,058 

20,265 

1,355 

293 

9,090 

574 

3,872 

452 

68,427 



8,318,425 



6,396,341 
63,946 
179,720 
76,525 
23,507 
16,520 

21,475 
91,645 

2,925 
71,403 

1,513 
349 

85,559 
8,400 
2,079 

812 
1,076,464 



8,119,183 



52,173,940 

89,350,247 

806,220 

^6,926 

102,819,824 

103,656,226 
21,334,028 
4,811,332 
4,447,137 
6,699,998 



374,890,824 



3,231,064 

7,537,252 

13,778,776 

296,513,158 

1,753,6631 
14,665,697 

3,825,076 
31,316,163 

2,790,030 



374,890,824 



194,627 
9,564,963 



1,610,400 
112,048 
269,365 

6,618,641 

2,621,966 

208,446 

9,585 

416,834 

415,898 

949,666 

54,904 

295,211 



141,362 
35,275 
1,122,862 
317,338 
193,629 
400,123 

2,206,294 

1,026,079 

39,875 

740,053 

53,007 

1,750 

185,927 
146,143 
26,942 

169,330 
9,874,297 



123,099 

123,075 

7,097 



55,066 
2,468 



24,310 
6,171 



199,242 

198,062 

4,850 



89,354 
5,301 



104,587 



42,167 
7,255 




257,047,986 



1,549,506 

6,172,363 
5,525,968 
213,310,947 
1,203,065 
8,487,470 
3,508,338 
18,003,416 
1,213,587 



257,047,986 



114,152 
2,030,571 



1,203,861 
105,561 
196,519 

4,595,701 

164,121 

60,044 

5,541 

274,534 

77,139 
623,500 

51,140 
155,248 



89,316 
31,567 
696,307 
112,622 
40,700 
382,213 

1,676,117 
264,561 
26,965 
139,064 
20,609 
554 

129,267 
113,781 
14,136 

141,787 
2,761,537 



45,490,602 

73,480,296 

597,424 

79,704,225 

9,481,364 

1,715,505 

229,665 

129,941 

1,238,973 



210,413,821 



77 

7,950 

194,476,101 

50,282 

3,926,103 

1,508,361 

10,467,991 

23,060 



210,413,821 



1,142,951 
104,542 
192,337 

3,236,772 

131,980 
2,303 
1,857 

26,676 

3,278 
23,132 

1,489 
48,653 



6,562,268 

5,392,903 

56,373 



1,702,736 
41,953 



1,744,689 



4,917,579 



1,711,534 
156,499 



3,036,109 

2,839,590 

12,479 



1,013,361 
23,281 



1,041,642 



1,292,232 
131,176 



499,887 
65,396 
33,023 

159,584 

882,703 

193, 577 

20,373 

104,602 

245 

3 

72,122 
94,197 
11,697 

137,410 
1,743,070 



1,656,290 

1,463,953 

5,159 



668,009 
16,463 



666,477 



969,813 



444,169 
96,530 



(M) 



2,011,325 

12,167,330 

170,629 

13,601 

1,875,393 

15,975,491 

438,254 

101,838 

45,008 

253,056 



32,505,791 



817,113 

5,320,091 
3,854,410 
13,157,303 

399,462 
1,343,903 
1,124,515 
1,772,939 

237,940 



32,506,791 



109,302 
1,073,693 



38,087 

277 

565 

1,255,152 

15,789 

336 

1,029 

37,950 

2,357 
13,644 

6,073 
51,586 



2,605,845 



86,894 

124,926 

35,243 

5,065 

219,608 

733,165 

49,634 

3,964 

23,860 

27 

481 

51,418 
14,192 
1,443 

3,045 
763,865 



487,774 

437,209 

4,564 



230,569 
2,731 



233,320 



152,766 
6,968 



See footnotes at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 
365266 O - 55 - 5 



60 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table 4. -ASSETS AND LIABILITIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GROUPS-Continued 

PAKT I^AIL RETOHNS WITH BALANCE SHEEIS-Contlnued 

RETURNS, ASSETS, LiABlUTIES, RECEIPTS, DEDUCTIONS, COMPILED NET PROFIT OH NET LCSS, NET INCOME OR DEFICIT, TAXES, AND DIVIDENDS PAID 



Major industrial groups-Continued 



Finance, insurance, real estate, and lessors of real property-Continued 



Finance-Continued 



Holding and 

other 
investment 
conipanies 



Security and 
commodity- 
exchange brokers 
and dealers 



Insurance carriers and agents 



Total insurance 

carriers^ and 

agents 



Insurance 
carriers^ 



Insurance 
agents and 



Real estate, 
except lessors 

of real 
property other 
than buildings 



Lessors of 

real property, 

except 

buildings 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Govemiaent obligations 

Other investments 

Gross capital assets (except land) 

Less; Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, KOrtgages payable: 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, comiiK>n^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations ( less amor- 
tizable bond premium): 

Wholly taxable 

Sub Jec t to surtax only 

Wholly tax-exempt 

Other interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-terra capital loss. 
Net long-term capital gain reduced by any net 

short-terra capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid 

Taxes paid 

Contributions or gifts 

DeprecIa tion 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit or net loss (37 less 55) 

Net Income or deficit (56 less 21) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax 

Compiled net profit leas toUl tax (56 less 61). 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



(61) 



527,646 

732,136 

17,365 

1,626 

758,668 

9,617,518 

447,716 

138,262 

45,725 

150,064 



12,125,522 



339,512 

185,707 
1,465,030 

782,589 

716,193 
3,110,345 

856,796 
5,519,655 

850,305 



12,125,522 



4,773 
67,215 



15,043 

165 

1,624 

98,033 

14,213 

76,936 

2,036 

195,281 

3,232 
579,481 
43,450 
41,373 



2,866 
31,567 
22,017 

3,673 
937 

2,122 

46,679 

13,817 
2,167 
8,029 

20,175 
70 

1,453 

2,189 

612 

1,204 
128,740 



288,317 



854,538 

852,914 

2,073 



105,444 
1,516 



106,960 



687,342 
26,331 



(62) 



(63) 



(64) 



(65) 



(66) 



10,241 



8,065 



112,256 



(Thctiaand dotlmrai 



126,884 

260,939 

2,033 

187 

815,617 

553,492 
55,022 
28,801 
14,034 

206, 511 



2,001,852 



392,865 

666,988 
198,578 
394,954 

37,128 
102,119 

18,665 
242,831 

52,276 



2,001,852 



7,780 

577 

1,993 

5,744 

2,139 
469 
619 

14,677 

68,322 

7,243 

128 

13,636 



254,853 



56 

49,477 

8,310 

654 

699 

13,570 

7,553 

441 

2,573 

162 



4,274 

3,203 

384 

128 
125,862 



37,507 

35,514 

653 



14,319 
566 



7,955 
1,347 



2,787,920 

752,361 

6,697 

9,961 

19,227,953 

63,596,372 

824,182 

51,148 

21,246 

4,168,050 



91,330,200 



469,679 

52,915 

52,746 

81,207,561 

37,152 

1,266,013 

43,378 

8,398,606 

197,350 



91,330,200 



41,571 
6,187,644 



333,525 

5,188 

71,868 

1,963,593 

197,583 

3,907 

392 

15,649 

1,147 

290,782 

2,647 

31,113 



9,196,609 



31,438 
642 
136,581 
67, 566 
3,390 
7,204 

12,353 

199,752 

4,334 

67,769 

203 

11 

19,439 
27,701 
10,735 

2,798 
5,807,927 



6,399,843 



2,796,766 

2,724,898 

10,330 



342,159 
8,218 



2,446,389 



199,689 
12,923 



2,578,118 

310,186 

2,884 

9,958 

19,212,657 

63,485,760 

716,514 

27,131 

14,034 

4,126,732 



90,423,944 



12,587 

30,483 

26,828 

81,116,121 

19,140 

1,160,524 

18,993 

8,222,279 

183,011 



90,423,944 



41, 571 
5,640,865 



383,040 

5,160 

71,845 

1,961,932 

194,980 

3,897 

361 

14,643 

941 

285,033 

1,772 

21,633 



8,627,678 



31,438 

21,959 

47,673 

2,249 

2,597 

10,073 

190,029 

2,942 

60,544 

187 



11,619 
23,833 
9,669 

2,025 
5,480,866 



5,897,703 



2,729,975 

2,658,130 

8,783 



316,905 
6,567 



323,472 



2,406,503 



183,267 
11,591 



209,802 

442,175 

3,813 

3 

15,296 

110,612 
107,668 

24,017 
7,212 

41,318 



906,256 



457,092 

22,432 
25,918 
91,440 
18,012 

105,489 
24,385 

176,327 
14,839 



906,256 



546 


779 




485 




28 




23 


1 


661 


2 


603 




10 



1,006 

206 
5,744 

875 
9,480 



642 

114,622 

19,893 

1,141 

4,607 

2,280 
9,723 
1,392 
7,225 



(') 
(=) 



7,820 
3,853 
1,066 

773 
327,061 



66,791 
66,768 
1,547 



25,254 
1,651 



39,886 



16,422 
1,332 



1,143,891 

1,853,915 

11,747 

1,144 

354,081 

4,208,140 

14,641,395 

3,842,570 

4,001,566 

562,514 



22,912,329 



1,116,303 

1,333,441 
11,776,459 
1,324,753 

387,375 
3,591,069 

241,065 
4,177,155 
1,035,291 



22,912,329 



37,211 
1,346,735 



21,119 

1,203 

823 

57,455 

2,112,689 
2,894 
3,613 

110,319 

336,386 

31,838 

1,002 

101,598 



4,164,835 



19,180 

3,060 

283,331 

131,974 

147,468 

10,259 

480,128 
529,318 

8,156 
518,420 

1,059 
915 

37,126 
4,142 
1,960 

22,485 
1,269,262 



696,642 
695,819 
31,482 



278,273 
7,081 



411,283 



142,738 
11,931 



(67) 



85,672 

103,220 

125 

407 

83,887 

223,849 
3,211,954 
419,047 
189,667 
120,825 



3,600,309 



95,576 

28,033 

1,423,603 

174,897 

131,071 

1,321,145 

32,295 

736,991 

343,302 



3,600,309 



(5) 



1,895 

96 

155 

1,892 

147,573 

121,601 

39 

16,282 

1,176 

3,546 

115 

7,252 



928 

6 

6,643 

5,176 

2,071 

447 

37,696 
32,428 

420 
14,300 
31,136 

270 

95 
519 
111 

2,260 
35,571 



170,577 



132,751 

132,596 

2,082 



63,938 
3,373 



67,311 



76,875 
469 



See footnotes at end of table. See p. 24 for "Explanation of Tenns" and p. 23 for "Description of the Sample and Limitations of Data." 



CORPORATION INCOME TAX RETURNS FOR 1952 



61 



Table 4.- ASSETS AND UABIUTIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRUL GROUPS-Continued 

PART I— ALL RETURNS WITH BALANCE SHEETS-Continued 

RETTUHNS, ASSETS, LtAsrUTlES. RECEIPTS, DEDUCTIONS, COMPILED NET PROFIT OR NET LOSS, NCT INCOME OR DEFICIT, TAXES, AND DrVlDENDS PAID 



Major industrial groups-Continued 



Total 
services 



Hotels and 
other 
lodging 
places 



Personal 
services 



Business 
services 



Autanotive 

repair 

services 

and garages 



Miscel- 
laneous 
repair 
services, 
hand trades 



Uotlon 
pictures 



Amusement , 

except 

motion 
pictures 



Other 
services, 

including 
schools 



Nature of 
business 

not 
allocable 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less; Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other Investments 

Gross capital assets (except land) 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

BondSj notes, mortgages payable: 

Maturity less than 1 year 

Mati^ity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, common^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations (less amor- 
tlzable bond premium): 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other Interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit or net loss (37 less 55).... 

Net income or deficit (56 less 27) 

Net operating loss deduction 

Income tax 

Excess prof I ta tax 

Total tax 

Compiled net profit less total tax (56 less 61). 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



(68) 



(69) 



(70) 



(71) 



(72) 



(73) 



(74) 



(75) 



(76) 



54,690 



5,193 



5,623 



5,407 



5,500 



(Thauaand dot Imra) 



1,043,371 

1,283,707 

23,416 

601.713 

235,237 

1,068,819 

6,243,693 

2,596,977 

751,062 

308,500 



8,915,709 



890,341 

519,473 
1,925,404 

916,250 

242,121 
1,615,487 

221,201 
3,023,188 

437,756 



8,915,709 



1,501,706 
9,160,271 



6,927 

143 

892 

12,432 

263,918 

24,052 

678 

48,199 

5,659 

22,428 

7,898 

112,933 



11,168,186 



902,406 
5,253,981 
518,894 
361,115 
143,976 
21,729 

93,300 

280,395 

9,082 

428,365 

434 

1,827 

191,431 
43,742 
11,591 

5,484 
2,280,718 



10,548,470 



619,716 
618,824 
29,836 



302,170 
22,136 



174,244 
9,085 



142,076 
116, 198 
4,994 
44,561 
27,387 

142,130 

1,981,252 

811,358 

304,260 

65,563 



2,007,075 



112,567 

103,806 
755,689 
137,077 

52,761 
335,162 

23,259 
576,876 

90,122 



2,007,075 



524,470 
941,236 



2,325 

145,914 
1,576 

171 

7,788 

1,847 

3,640 

13 

15,208 



290,126 

353,944 

35,828 

70,992 

59,714 

3,360 

34,791 
74,150 
1,806 
93,923 
155 
(=) 

26,122 
1,858 
3,940 

565 
494,459 



1,545,740 



101,352 

101,335 

3,848 



48,961 
1,629 



28,962 
618 



105,062 
131,064 
2,904 
68,364 
16,352 

65,177 

828,187 

375,247 

45,985 

39,236 



921,276 



82,878 

54,883 
137,912 

83,307 

34,072 

238,589 

9,977 

331,654 

51,996 



921,276 



270,929 
1,363,145 



290 

5 

651 

656 

3,590 
993 
49 

5,016 

564 

899 

6 

10,341 



146,429 

775,319 

100,081 

51,685 

20,096 

3,758 

8,439 

39,055 

1,259 

61,449 

41 

50 

25,621 
1,627 
2,277 

669 
355,838 



1,593,693 



63,441 

62,790 

3,908 



28,360 
1,828 



33,253 



12,927 

1,057 



315,480 
539,070 
7,488 
66,916 
66,924 

311,249 

931,212 

348,829 

27,477 

68,354 



325,611 

89,618 
269,346 
285,836 

58,788 
350,118 

60,553 
639,394 
108,899 



1,970,365 



221,112 
2,924,409 



1,074 
105 
156 

3,761 

35,246 
9,089 

174 

9,734 

326 

10,206 

1,623 

22,961 



152,211 

1,784,118 

190,863 

56,532 

17,872 

5,694 

12,359 

40,016 

2,044 

92,240 

23 

151 

32,897 

24,950 

2,126 

1,886 
641,724 



3,057,711 



182,765 

182,609 

7,726 



85,996 
7,560 



43,947 
3,969 



46, 348 

66,340 

876 

24,644 

2,989 

23,190 

426,740 

155,605 

55,021 

19,389 



508,180 



50,273 

61,814 
141,751 
38,389 
17,030 
76,250 
5,169 
140,585 
23,081 



508,180 



120,102 
417,726 

228 

1 

6 

1,439 

24,798 
70 
104 



822 
491 



5,857 



81,495 
213,088 
30,643 
38,761 
7,506 
1,476 

8,100 

15,674 

397 

58,142 

(') 

{=) 

5,229 
294 
310 

241 
83,556 



37,718 
37,712 
1,540 



14,319 
689 



3,130 
1,187 



23,386 
49,650 

596 
39,049 

689 

6,166 
71,228 
23,261 
4,423 
7,938 



183,672 



33, §75 

14,018 
11,787 
25,659 
984 
36,292 

3,089 
64,631 

6,363 



183,672 



120,412 
292,551 



1,204 
11 
74 

1,758 

69 



80,835 

200,131 

25,123 

8,627 

3,101 

934 

1,139 

7,441 

99 

6,207 

^') 
(=) 

4,295 

736 

1,045 

73 
62,422 



402,298 



15,651 
15,651 
1,562 



7,047 
631 



1,721 



209,355 

207,453 

2,200 

319,959 

50,362 

433,875 

1,240,600 

602,754 

215.955 

64,917 



2,137,522 



169,591 

133,029 
430,994 
185,989 

44,577 
296,260 

77,687 
875,860 

76,465 



81,997 
1,680,471 



1,162 
I') 
{') 

3,143 

33,513 

8,109 

32 

9,906 

391 

5,434 

6,165 

34,195 



1,869,526 



46,344 
1,127,903 
41,527 
74,302 
15,773 
3,321 

19,722 
46,514 
816 
68,424 
I') 
1,408 

62,290 

6,255 

651 

1,185 
254,456 



98,632 

98,632 

6,096 



51,908 
2,537 



44,187 



56,730 
832 



107, 146 

42,704 

698 

10,001 

34,676 

47,271 
495,251 
185,652 
73,497 
25,541 



649,737 



43,921 

34,742 
125,575 

69,236 

23,234 
174,931 

13,304 
215,671 

51,377 



649,737 



65,307 
689,202 






10, 214 

2,985 

60 

2,203 

790 

765 

63 

11,417 



784,242 



35,264 
349,703 
29,750 
35,729 
13,981 
852 

5,462 

39,727 

1,968 

32,080 

108 

I') 

19,188 
991 
394 

468 
153,303 



65,274 

65,264 

3,215 



36,129 
2,407 



33,536 



16,689 
837 



89,518 

131,228 

3,660 

28,219 

35,858 

39,761 
269,223 
94,271 
24,444 
17,562 



537,882 



71,925 

27,563 
52,350 
90,757 
10,675 

107,885 
27,663 

178,517 
29,453 



537,882 



97,377 
851,531 



52 
508 

4,434 

1,219 

14 

733 

350 
993 

(') 

11,196 



969,112 



69,702 

449,775 

65,079 

24,487 

5,933 

2,334 

3,288 

17,818 

693 

15,900 

49 

146 

15,789 

7,031 

843 

397 
234,960 



54,883 

54,831 

1,941 



29,450 
4,855 



34,305 



10,138 
559 



(77) 



4,392 



26,728 

71,331 

1,411 

3,789 

2,735 

64,490 
60,324 
15,139 
16,742 
11,731 



246,370 



13,945 
40,558 
19,270 

9,558 
109,038 

5,618 
75,584 
60,736 



246,370 



55,129 
32,693 



(3) 
(') 



3,363 
711 
146 



294 
2,853 



42,194 

17,485 

6,006 

2,086 

724 

665 

1,717 

2,908 

57 

2,802 

215 

2 

390 
195 



952 
17,173 



1,899 

1,895 

932 



3,509 
168 



'1,778 



1,426 
29 



See footnotes at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



62 



CORPORATION INCOME TAX RETURNS FOR 1952 



Table 4.-ASSETS AND LIABILITIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRUL OROUPS-ConUnued 

PART II.-RETURNS WITH MET INCCME 

RETURhtS, ASSETS, LCABILITIEZS, RECEIPTS, DEDUCTIONS, COMPILED NET PROFIT OR NET LOSS, NET INCOME OR DEFICIT, TAXES, AND DIVIDENDS PAID 



Major industrial groups 



All 

Industrial 
groups 



Agriculture, forestrjj and fishery 



Total 

agriculture, 

forestry, 

and 

fishery 



Farms and 
agricul- 
tural 
services 



Fishery 



Mining and quarrying 



Total 

mining and 

quarrying 



Metal 
mining 



Anthra- 
cite 
mining 



Bituminous 
coal and 
lignite 
raining 



Crude petro- 
leum and 
natural gas 
production 



Nonmetallic 

mining and 

quarrying 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other investioents 

Gross capital assets (except lemd) 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, common^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabl 11 ties 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations (less amor- 
tizable bond premium) : 

Wholly taxable 

Subject to surtax only 

Wholly tax-exempt 

Other Interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net gain, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion 

Anortlzatlon 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Conpiled net profit (37 less 55) 

Net income ( 56 less 27) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax. . . /. 

Compiled net profit less total tax (56 leas 61). 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



(2) 



(31 



(4) 



(5) 



(6) 



(7) 



(8) 



(10) 



A, 191 



(Thousand dollars) 



76,115,929 

132,843,24i 

1,724,093 

59,307,233 
114,694,212 

114,753,720 
222,952,871 

77,605,942 
8,408,932 

13,060,228 



662,806,334 



31,264,914 

17,649,357 
69,085,904 

304,836,948 
14,603,530 
77,126,918 
12,130,672 

138,765,398 
2,662,307 



662,806,334 



390,319,825 

71,819,076 



1,794,782 
114,074 
272,927 

6,260,536 

3,414,964 

437,030 

19,674 

1,247,061 

399,295 
2,305,104 

542,913 
2,673,568 



431,670,829 



298,138,335 

40,330,920 

7,101,830 

3,771,336 

4,720,732 

675,200 

3,927,740 
10,734,037 

393,474 
8,556,534 
1,980,944 

814,498 

4,547,546 

2,468,359 

597,214 

201,234 
52,351,951 



441,312,484 



40,353,345 

40,085,418 

381,057 



17,464,824 
1,537,527 



19,002,351 



21,355,994 



11,077,193 
1,338,850 



165,504 

204,783 

2,101 

234,299 

91,491 

178, 390 

1,047,088 

432,499 

254,171 

53,701 



1,794,832 



137,547 

96, 102 
171,631 
102,730 

34,906 
596,357 
106,520 
597,976 

48,937 



1,794,832 



1,596,287 
364,777 



270 
3,516 

13,220 

8,100 

169 

33,449 

2,042 
6,328 
3,432 
17, 509 



1,152,154 

168,682 

41,950 

35,224 

36,785 

1,974 

10,827 
34, 369 

1,104 
62,512 

4,350 
118 

11,665 

3,323 

605 

705 
293,596 



1,359,943 



191,160 

190,390 

7,022 



74,967 
1,791 



76,758 



56,863 
3,725 



153,543 

133,403 

2,066 

227,443 

82,492 

170,424 
978,095 
407,755 
243,000 
51,673 



124,431 

83,940 
154,936 

90,660 

32,723 
549,100 
105,232 
564,236 

25,061 



1,685,252 



1,551,766 
339,664 



1,800 

65 

267 

3,295 

12,633 

7,812 

140 

24,324 

823 
6,183 

3,431 
16,702 



1,115,769 

153,623 

39,834 

34,997 

35,802 

1,925 

10,137 
32,465 

1,069 
60, 597 

2,612 
118 

11,508 

3,299 

595 

691 
285,676 



1,790,722 



173,238 

177,971 

6,522 



70,913 
1,728 



72,641 



54,523 
3,725 



8,244 
9,687 

(h 

5,415 
5,663 

5,299 
43,253 
17,442 

9,520 
706 



75,320 



9,932 

3,521 
14,305 
10,549 

1,871 

36,315 

995 

20,781 

22,949 



75,320 



27,702 
10,664 

101 

(^) 
186 

434 

288 

29 



1,219 
100 



24,183 

6,832 

929 

20 

72 

11 

413 

1,196 

13 

468 
1,714 



98 
29 

(=) 

(') 
2,908 



U,050 

11,050 

231 



3,433 
50 



3,483 



7,562 
2,032 



3,717 

6,693 

(^) 

1,441 

3,336 

2,667 
20,735 
7,302 
1,651 
1,322 



34,260 



3,184 

3,641 

2,340 

1,521 

307 

10,942 

293 

12,959 

927 



34,260 



16,819 
14,449 



(=) 



40 

1 

360 



32,154 



12,202 

3,172 

1,187 

207 

911 

38 

277 
703 

17 
1,447 

24 



(=) 
(') 



(3) 
5,012 



30,282 



1,372 

1,369 

269 



616 
13 



263 



805,225 

1,198,561 

10,046 

670,136 

783,418 

1,215,606 

3,551,397 

4,101,636 

89,919 

192,092 



9,394,722 



689,325 

216,808 
1,071,210 

801,449 

239,431 
1,647,113 

257,430 
4,645,540 

173,634 



9,394,722 



6,503,920 
1,131,355 



13,706 

99 

327 

13,289 

24,174 

39,805 

709 

68,100 

3,455 
84,230 

3,514 
33,738 



,015,766 

737,699 

79,644 

31,256 

107,768 

5,211 

47,224 
221,135 
4,302 
348,521 
598,237 
7,954 

10,776 
84,931 
10,813 

1,805 
576,635 



6,339,777 



1,090,644 

1,090,317 

9,018 



489,616 
14,096 



586,932 



595,188 
36,272 



151,304 
242,233 
521 
165,200 
322,109 

237,650 

1,392,217 

730,587 

8,082 

63,088 



1,800,730 



165,833 

12,795 

82,272 
137,874 

43,753 
272,245 

39,704 
1,026,909 

30,660 



1,300,730 



1,155,346 
31,907 



5,663 
(3) 

103 
2,532 

2,546 
3,494 
(=) 

7,586 

66 

27,348 

5,114 

5,287 



1,247,050 



705,448 

21,269 

4,876 

3,980 

15,452 

86 

3,100 

37,999 

263 

29,563 

102,495 

3,242 

153 

7,325 

671 

16 
74,142 



236,970 

236,862 

512 



100,795 
2,471 



103,266 



139,059 
3,169 



15,965 
29,255 
696 
13,369 
13, 599 

107,155 
142,632 

61,547 
4,101 

10,940 



274,773 



29,094 

1,623 
45,535 
17,915 

8,400 
70,317 

5,760 
101,262 

5,633 



274,773 



111,960 
44,974 

224 

13 

1 

283 

4,711 
185 
(^) 

580 

6 

11,355 

2 

563 



174,857 



95,617 

27,891 

2,012 

1,998 

1,596 

12 

1,259 
3,428 

127 
4,996 
1,244 

354 

720 

1,341 

608 

12 
14,996 



16,646 

16,645 

501 



3,136 
3 



3,139 



13,507 
9,920 



143,657 
251,068 
1,956 
99,746 
153,541 

194,777 

1,543,699 

704,393 

9,783 

40,019 



1,735,041 



112,302 

31,981 
214,276 
105,183 

47,864 
294,396 

53,377 

872,231 

6,574 



1,735,041 



1,541,031 
171, 592 



2,451 

11 

154 

2,901 

7,397 

2,343 

6 

13,534 

437 
7,432 

180 
3,646 



1,150,496 

117,060 

14,920 

7,013 

35,338 

1,094 

3,400 

36,970 

719 

53, 553 

51,969 

1,215 

2,368 

55,061 

5,445 

596 
121,635 



1,675,502 



87,718 

87,564 

1,504 



35,206 
267 



52,245 



43,356 
3,826 



374,414 
533,431 
4,043 
312,736 
237,235 

603,256 

4,659,712 

2,170,555 

46,273 

56,131 



4,653,590 



327,469 

138,649 
671,949 
424,336 
111,921 
796,065 
92,988 
2,212,546 
122,333 



4,553,590 



2,773,320 
843,515 



4,369 
70 
22 

6,873 

6,911 

32,101 

633 

37,240 

2,529 
35,805 

3,217 
18,267 



1,510,751 
517,689 
32,375 
13,562 
22,011 
2,303 

30,391 
118,203 

1,818 
202,311 
387,567 

2,049 

4,332 
18,745 
2,278 

931 
265,446 



538,060 

633,033 

5,617 



293,438 
3,703 



330,919 



348,366 
26,779 



(11) 



114,335 

137,569 

2,330 

79,135 

56,834 

72,768 
813,137 
384,554 
21,630 
21,914 



930,533 



54, 572 

31,760 
57,128 
66,136 
27,543 

213,590 
55,601 

432,592 
8,334 



930,538 



917,263 
39,367 



999 

3 

42 

550 

2,609 

1,677 

69 

4,110 

267 

1,290 

1 

5,975 



1,024,322 



553,454 

53,790 
25,461 

4,703 
32,371 

1,716 

4,074 
24,535 

1,375 
47,993 
54,862 

1,094 

3,153 

2,509 

811 

250 
100,366 



111,250 

111,208 

884 



52,041 
2,652 



48,977 
2,498 



See footnotes at end of table. See p. 24 for "Explanation of Terms" and p. 23 for "Description of the Sample and Limitations of Data." 



CORPORATION INCOME TAX RETURNS FOR 1952 



63 



Table 4.-ASSETS AND LIABILITIES, RECEIPTS AND DEDUCTIONS-RETURNS WITH BALANCE SHEETS, BY MAJOR INDUSTRIAL GRO UPS-Continued 

PART II.-RETURNS WITH NET INCCSffi-Continued 

RETURNS, ASSETS, LIABILITIES, RECEIPTS, DEDUCTIONS, COMPILED NET PROFIT OR NET LOSS, NET INCOME OR DEFICIT, TAXES, AIJD DIVIDENDS PAID 



Major Industrial groigjs-Continued 



Construction 



Manufacturing 



Total 
manufacturing 



Food and 
kindred 

products 



Tobacco 
manufactures 



Textile-mill 
products 



Apparel and 

products 

made from 

fabrics 



Lumber 
and wood 
products, 

except 
furniture 



Furniture 

and 
fixtures 



Paper and 

allied 
products 



Number of returns with balance sheets 

Assets: 

Cash 

Notes and accounts receivable 

Less: Reserve for bad debts 

Inventories 

Investments, Government obligations 

Other investments 

Gross capital assets (except land} 

Less: Reserves 

Land 

Other assets 

Total assets 

Liabilities: 

Accounts payable 

Bonds, notes, mortgages payable: 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities 

Capital stock, preferred 

Capital stock, coraroor^ 

Surplus reserves 

Surplus and undivided profits 

Less: Deficit 

Total liabilities 

Receipts: 

Gross sales 

Gross receipts from operations 

Interest on Government obligations (less araor- 
tizable bond premium): 

Wholly taxable 

Sub Jec t to surtax only 

Wholly tax-exempt 

Other Interest 

Rents 

Royalties 

Net short-term capital gain reduced by any net 

long-term capital loss. 
Net long-term capital gain reduced by any net 

short-term capital loss. 

Net ga£n, sales other than capital assets 

Dividends, domestic corporations 

Dividends, foreign corporations 

Other receipts 

Total compiled receipts 

Deductions: 

Cost of goods sold 

Cost of operations 

Compensation of officers 

Rent paid on business property 

Repairs 

Bad debts 

Interest paid 

Taxes paid 

Contributions or gifts 

Depreciation 

Depletion 

Amortization 

Advertising 

Amounts contributed under pension plans 

Amounts contributed under other employee bene- 
fit plans. 

Net loss, sales other than capital assets 

Other deductions 

Total compiled deductions 

Compiled net profit (37 less 55) 

Net income (56 ^,ess 27) 

Net operating loss deduction 

Income tax 

Excess profits tax 

Total tax 

Compiled net profit less total tax (56 less 61). 
Dividends paid: 

Cash and assets other than own stock 

Corporation's own stock 



(12) 



(13) 



(U) 



(15) 



(16) 



(17) 



(18) 



(19) 



(20) 



(21) 



78,757 



2,014 



6,638 



(Thouaend doltari) 



838,307 

2,907,643 

13,463 

679,260 

160,420 

433,967 

1,779,615 
809,892 
82,864 
174,706 



6,233,427 



1,124,030 

403,284 

459,672 

1,483,998 

82,269 

774,037 

141,334 

1,302,874 

38,071 



6,233,427 



844,140 
12,258,216 



2,341 

39 

345 

5,331 

30,560 

1,430 

690 

37,912 

2,752 

12,790 

1,852 

118,163 



13,316,561 



671,882 
10,187,872 

397,866 
44,385 
66,567 
14,009 

35,734 
135,418 

10,281 
195,711 

4,741 
746 

28,641 
21,820 
7,920 

1,171 
815,694 



676,103 
675,758 
26,234 



277,702 
25,993 



14,099,571 
25,812,813 
461,552 
39,170,231 
11,744,074 

13,517,054 

93,359,815 

40,797,897 

2,017,504 

2,821,874 



161,283,487 



14,927,472 

5,457,326 
17,871,436 
17,941,856 

6,370,127 
29,721,397 

6,215,201 

63,161,756 

383,084 



161,283,487 



234,689,764 
4,321,197 

205,416 
1,910 
4,197 

183,559 

312,533 

192,066 

3,402 

450,007 

7,206 
915,8U 
392,855 
922,330 



173,690,743 
2,448,013 
2,635,241 

949,762 
3,837,557 

149,274 

885,069 
5,828,995 

240,737 
3,895,271 
1,255,728 

513,101 

2,706,846 

1,627,367 

415,782 

38,807 
20,535,159 



20,953,798 

20,949,601 

151,322 



10,063,373 
1,284,192 



11,347,565 



326,666 

436,250 

10,558 

1,183,134 

147,486 

247,252 
1,789,466 

615,938 
66,208 
97,936 



3,667,902 



352,300 

107,255 
532,741 
325,008 
184,620 
405,209 

85,416 
1,689,081 

13,728 



3,667,902 



6,690,043 
33,571 



1,905 

8 

148 

5,546 

4,531 
2,104 
(M 

4,035 

358 

2,719 

2,179 

27,378 



6,774,635 



4,280,212 
13,149 
46,953 
U,933 
41,755 
7,787 

26,025 

962,713 

7,185 

96,814 

356 

1,080 

219,555 

17,336 

6,293 

1,644 
584,476 



6,327,266 



447,369 

447,221 

5,510 



222,397 
15,542 



73,145 
26,781 



9,606,233 



5,618,065 
899,577 



U7,699 
5,094 



1,042,940 

1,646,118 

31,931 

3,095,400 

517,632 

800,033 

6,305,340 

2,600,764 

257,631 

244,877 



11,277,276 



885,368 

669,008 
1,256,566 

852,876 

675,688 
2,225,702 

483,013 

4,275,485 

51,930 



11,277,276 



30,963,871 
98,209 



7,067 

75 

503 

13,178 

22,169 

5,898 

113 

19,060 

560 
18,200 
26,421 
81,372 



31,261,701 



25,510,336 
27,176 

139,262 
36,336 

269,255 
20,643 

87,921 

306,507 

12,885 

324,733 

951 

762 

534,496 
80,787 
18,178 

3,124 
2,564,631 



1,223,668 
1,223,160 

11,504 



597,331 
31,332 



595,005 



339,342 
15,189 



123,275 
523,123 

2,754 

1,812,564 

10,555 

53,053 

317,340 

133,951 

10,067 

20,834 



2,739,156 



61,687 

390,715 
635,136 
200,602 
221,197 
499,401 
44,078 
586,433 
98 



3,658,796 
1,612 



166 
13 
41 

588 

3,103 

144 

1 

1,769 

12 

4,470 

730 

9,424 



2,114,464 

220 

8,790 

2,181 

5,070 

233 

23,198 

976,331 

1,022 

13,314 



122,735 
7,388 
1,760 

94 
115,102 



233,412 

283,371 

160 



144,409 
15,3(X 



159,713 



123,699 

96,683 



619,318 

1,089,559 

17,215 

1,908,575 

314,768 

447,002 

4,075,627 

1,661,516 

55,560 

100,822 



6,932,500 



430,463 

253,680 
560,229 
460,738 
344,619 

1,257,372 
263,753 

3,320,745 
14,155 



6,932,500 



10,555,784 
184,479 

5,548 

32 

675 

7,091 

13,903 

3,601 

150 

15,576 

432 

13,009 

2,058 

51,440 



10,853,733 



8,543,533 

124,926 

135,504 

30,011 

105,088 

4,316 

39,416 

152,661 

12,428 

175,075 

274 

1,235 

63,486 
X,276 
14,390 

3,158 
681,170 



10,221,147 



632,541 

631,966 

7,876 



305,