Village Of Walbridge Income Tax Return - 2006 Page 2

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SCHEDULE C – PROFIT (or Loss) FROM BUSINESS OR PROFESSION
ATTACH COPY(S) OF: FEDERAL SCHEDULES C AND F OR FEDERAL RETURN 1065 – 1120 – 1120-S
LISTING OF ALL SUBCONTRACTORS THAT WORKED IN VILLAGE OF WALBRIDGE THROUGHOUT THE YEAR
18. NET PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION..................................................................(If Loss, enter “0”) .................................... $
SCHEDULE E - INCOME FROM RENTS (if not included in Schedule C.) (Explain columns 3 – 4 – 5)
ATTACH COPY OF FEDERAL SCHEDULE E
1. Kind & Location of Property
2. Amount of Rent
3. Depreciation
4. Repairs
5. Other Expenses
6. Net Income (or Loss)
$
$
$
$
$
19. TOTAL RENTAL INCOME
(If Loss, enter “0”)
$
SCHEDULE G - ORDINARY INCOME
ATTACH COPY OF FEDERAL FORM 4797
INDIVIDUALS USE LINE 18(b)(2) FROM FORM 4797
ALL OTHER USE LINE 18 FROM FORM 4797
20. TOTAL ORDINARY INCOME
(If Loss, enter “0”)
$
SCHEDULE H - OTHER INCOME NOT INCLUDED IN SCHEDULES C or G.
PARTNERSHIPS, ESTATES, TRUSTS, GAMING, WAGERING, LOTTERY, FEES, ETC. (Do not include interest, dividends, insurance and social security)
RECEIVED FROM
FOR (DESCRIBE)
AMOUNT
$
$
21. TOTAL INCOME SCHEDULE H
(If Loss, enter “0”)
22. TOTAL SCHEDULES C, E, G, & H, ENTER ON LINE 2, PAGE 1
$
SCHEDULE X – RECONCILIATION WITH FEDERAL INCOME TAX RETURN
TO EXCLUDE INCOME NOT TAXABLE, AND EXPENSES NOT ALLOWABLE
Schedule X entries are allowed only to the extent directly in determination of net profits as shown on your Federal Return.
ITEMS NOT DEDUCTIBLE
DEDUCT
ADD
ITEMS NOT TAXABLE
a. Capital Losses – Section 1221 or 1231 ............................................ $ __________
i.
Capital Gains – Section 1221 or 1231 .............................................. $ __________
b. 5% of Line K – Intangible Income ......................................................
__________
j.
Intangible Income (excluding 1221 gains)
c. Taxes based on Income ....................................................................
__________
Interest Income
__________
d. REIT – other Investor Benefits (See Instr.) ........................................
__________
Dividends
__________
e. Guaranteed Payments to Partners ....................................................
__________
Other
__________
f.
Self-employed/owner expenses (See Instr.) ......................................
__________
k. Subtotal Intangible Income ................................................................
__________
__________
l.
Other Deductions (See Inst.)..............................................................
__________
__________
__________
g. Other (explain)....................................................................................
__________
m. Other (explain)....................................................................................
__________
h. TOTAL ADDITIONS (enter Line 2A, Page 1) .................................... $ __________
z. TOTAL DEDUCTIONS (enter Line 2B, Page 1) ................................ $ __________
a. Located
b. Located in
c. Percentage
SCHEDULE Y – BUSINESS ALLOCATION FORMULA
Everywhere
VILLAGE OF
(b ÷ a)
WALBRIDGE
STEP 1. Average Value of Real & Tangible Personal Property
____________
____________
Gross Amount Rentals Paid Multiplied by 8
____________
____________
TOTAL STEP 1
____________
____________
____________ %
STEP 2. Gross Receipts From Sales Made and/or
Work Or Service Performed
____________
____________
____________ %
STEP 3. WAGES, SALARIES, Etc. Paid
____________
____________
____________ %
4. Total Percentages
____________
____________
____________ %
5. Average Percentage (Divide Total Percentages by Number of Percentages Used-Carry to Line 5b)
______________ % ______________
3. Distributive Shares
SCHEDULE Z – PARTNERS’ DISTRIBUTIVE SHARES OF NET INCOME
4. Other
5. Taxable
6. Amount
of Partners
Payments
Percentage
Taxable
1. Name of each partner
2. Address
Percent
Amount
(a)
$
$
$
(b)
(c)
(d)
7. TOTALS from Schedule C above
100
$
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