Form 1041 - Fiduciary Income Tax Return (For Estates And Trusts)

Form 1041 - Fiduciary Income Tax Return (For Estates And Trusts) - 1947 Page 3

Page 3

COMPUTATION OF ALTERNATIVE TAX

6. Combined tentative normal tax and surtax on

1. Net income (item 17, page 1)

amount in line 5. (See instruction 21)

2. Less: Excess of net long-term capital gain over net

7. Less: 5 percent of line 6

short-term capital loss (line 2, column 5(a), less

line 1, column 5(b), of summary above)

8. Partial tax (line 6 less line 7)

3. Ordinary net income (line 1 less line 2)

9. 50 percent of line 2

4. Less: Exemption (item 19, page 1)

10. Alternative tax (line 8 plus line 9)

5. Balance (Line 3 less line 4)

11. Total normal tax and surtax (item 23, page 1)

12. Tax on liability (line 10 or line 11, whichever

is the lesser). (Enter as item 23, page 1)

Schedule D.—GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY OTHER THAN CAPITAL ASSETS. (See Instruction 7)

5. Expense of sale and cost

6. Depreciation allowed (or

7. Gain or loss (column 3

3. Gross sales price

4. Cost or other

of improvements subse-

allowable) since acquisi-

1. Kind of property

2. Date acquired

plus column 6, less the

(contract price)

basis

quent to acquisition or

tion or March 1, 1913.

sum of columns 4 and 5)

March 1, 1913

(Explain in Schedule E)

Total net gain (or loss). (Enter as item 7(b), page 1)

NOTE.—If any item in Schedule C or D was acquired by you otherwise than by purchase, attach a statement explaining how acquired.

Schedule E.—EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED IN SCHEDULES B, C, AND D. (See General Instruction M)

3. Cost or other

8. Estimated

7. Estimated

basis (do not in-

4. Assets fully

5. Depreciation

6. Remaining cost

remaining

1. Kind of property (if buildings, state

2. Date ac-

life used in

9. Depreciation

clude land or other

depreciated in use

allowed (or allow-

or other basis to be

life from

material of which constructed)

quired

accumulating

allowable this year

nondepreciable

at end of year

able) in prior years

recovered

beginning of

depreciation

property)

year

Schedule F.—EXPLANATION OF DEDUCTIONS CLAIMED IN COLUMNS 4 AND 5, SCHEDULE B, AND ITEMS 11, 12, AND 13. (See Instructions 11, 12, and 13)

1. Column or

1. Column or item

2. Explanation

3. Amount

2. Explanation (continued)

3. Amount (continued)

item No.

No. (continued)

Form 1041 - Fiduciary Income Tax Return (For Estates And Trusts) - 1947 Page 3

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