Schedule D Corporation And Partnership - Gains And Losses From Sale Or Exchange Of Property Page 3

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Schedule D Corporation and Partnership - Page 3
Rev. 05.03
Part VII
Determination of Alternative Tax - Capital Gain
{
(a) Form 480.10 or 480.20, Part II, line 5
31.
Net income
(b) Schedule P Incentives, Part I, line 7
0 0
(c) Others - Enter the amount from the appropriate line of the return .......................................
(31)
32.
0 0
Enter the amount from line 25, Column B ..............................................................................................................................
(32)
0 0
33.
Enter the amount from line 25, Column C .........................................................................................................................................
(33)
34.
0 0
Enter the amount from line 25, Column D .........................................................................................................................................
(34)
0 0
35.
Net income for the purpose of alternative tax - capital gain (Subtract lines 32, 33 and 34 from line 31) ..............................
(35)
COMPUTATION OF NET INCOME TO DETERMINE ALTERNATIVE TAX
36.
Net income for the purpose of partial normal tax (Enter the amount from line 35) .........................................................
0 0
(36)
37.
Less: Credit for the purpose of surtax (From the appropriate line of the return) ...........................................................
0 0
(37)
38.
Net income subject to partial surtax ......................................................................................................................................
0 0
(38)
COMPUTATION OF ALTERNATIVE TAX
0 0
39.
Partial normal tax (Multiply line 36 by 20%) .........................................................................................................................
(39)
0 0
40.
Surtax ..........................................................................................................................................................................................
(40)
0 0
41.
Amount of recapture ...............................................................................................................................................................
(41)
0 0
42.
Total tax (Add lines 39 through 41) .......................................................................................................................................
(42)
0 0
43.
Plus: 12.5% (property located in Puerto Rico) of the amount on line 32 .........................................................................
(43)
0 0
44.
Plus: 25% (other properties) of the amount on line 33 ........................................................................................................
(44)
0 0
45.
Plus: 7% (shares from eligible Corp. or Part.) of the amount on line 34 ...........................................................................
(45)
46.
Alternative Tax - Capital gains (Add lines 42, 43, 44 and 45. Enter here and on Form 480.10 or 480.20, Part III, line
0 0
12 or on the appropriate line of other returns) .....................................................................................................................
(46)
Part VIII
Gains (or Losses) from Property Other than Capital Assets
(A)
(B)
(D)
(C)
(E)
Description and Location of Property
(F)
Date
Date
Adjusted Basis
Sale Price
Selling Expenses
Gain or Loss
Acquired
Sold
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
47.
Net gain (or loss) from property other than capital assets (Enter here and on Form 480.10 or 480.20,
Part IV, line 10 or on the appropriate line of other returns) ..................................................................................................
(47)
0 0
Conservation Period: Ten (10) years

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