YOUB INCOME TAX
WHO MUST USE THE LONG FORM
IN FILING INCOME TAX RETURN
i -n
(Fifth of Six Articles on How
to Make Out Your Federal In
come Tax Return)
By FRANCIS J. KELLY
WASHINGTON, (A) — If your
1952 income was $5,000 or more,
you must use long-form 1040 in
making out your income tax re
turn.
' That four-page, white paper
form also is the proper blank if
you:
1) Had more than $100 income
from sources other than wages
from which taxes were withheld,
or
2) Had any income from a busi
ness or profession, fanning, rents,
royalties, annuities, or transac
tions in securities, or
3) Claim status as “head of a
‘ household,” as defined in the tax
laws. A widow with dependents
may claim such a classification,
for example.
Practically always you will save
money by making a long-form re
turn if your non-business deduc
tions run more than 10 percent of
your income. This form may be
used for incomes below $5,000 as
well as above.
Read Instruction Book
* The Bureau of Internal Reven
ue has made a considerable effort
in recent years to simplify the tax
return form. Each is now accom
panied by a 12-page^ book of in
structions designed to make things
easier for the taxpayer.
Persons who use long-form 1040
must calculate their own tax in
stead of picking it out of a table.
A space for the computation is
provided on page 3 of the form.
Before starting to fill out the
blank, it is well to assemble data
on your income and various de
ductible expenses.
Lump Sum Deductions
If your income is $5,000 or more
you do not necessarily have to
list your deductions in detail. You
have the option of deducting 10
percent of your income instead.
Married persons filing separately
Chinese Reds Say
U.S. B-29 Downed
Over Manchuria
TOKYO, OR—Red China’s No. 2
boss charged Thursday that a tLS.
B-29 Superfort violated Manchur
ian skies Jan. 12 and was shot
down by Communist night fight
ers.
U.S. Far East Air forces con
firmed the loss of the bomber,
but asserted it faas 12 to 15 miles
inside North Korea—well below
the Yalu River boundary of Man
churia—when riddled.
“The B-29 transmitted a ‘May
Day’ distress signal and it is as
sumed it was shot down at that
point,” said an official FEAF an
nouncement.
The Reds alleged the B-29 was
* shot down nine miles northwest
of Antung, big Communist air
base across the Yalu from north
western Korea.
Peiping radio broadcast the
charge, and an angry protest, by
Red China’s premier and foreign
minister, Chou En-Lai. It quoted
him as saying 11 crewmen, in
cluding a colonel and a major
were captured and that three oth
er crewmen “died after parachu
ting.”
s Plastering is one of the mos‘
ancient of handicrafts.
are allowed a $500 deduction. The
top limit on lump deductions for
all other taxpayers is $1,000.
The original W-2 form must be
attached to your return.
Generally, married couples find
it advantageous to file joint rather
than separate returns. This is be
cause the current law permits in
come splitting, which, in turn,
means a lower tax. However, in
a few cases, where husband and
wife both have income, separate
returns may be preferable.
Joint returns must be signed by
both the husband and*wife.
It is important to keep an exact
copy of your return in case you
later wish to amend it in any way.
Also, keep a copy of the W-2 form
furnished by your employer.
ALASKA SALMON INSTITUTE
ESSAY CONTEST WINNERS!
Robert H. Secrist, Jr. Carroll Haggard
Many entries were received in the recent essay contest sponsored
by the Alaska Salmon Institute. All were of extremely high calibre
and reflected a great deal of research and effort upon the part of
students in both contest divisions.
First place winner in the Elem r School Division was
Carroll Haggard, a fifth grade studer ali School in Fair
banks, who receives a $300 Alaska t Institute award for
her outstanding essay. A set of bea cyclopedias will be
awarded to the Denali School library. — '*
Top honors in the High School Division were won by Rober
H. Secrist, Jr., a senior at Juneau High School. In addition to hi
5300 cash award, the Alaska Salmon Institute will also preser
a $125 set of encyclopedias to the Juneau High School library.
Other prize winners are:
ELEMENTARY SCHOOL DIVISION HIGH SCHOOL DIVISION
Second Prize of $100 Second Prize of $100
Hugh M. Spurr John Jensen
Ft. Richardson Grade School Douglas High School
Third Prize of $50 Third Prize of $50
Guy Barber James C. Leveque
Anchorage Junior High School Fairbanks High School
Fonrth Prize of $25 Fourth Prize of $25
Diane Burnham Gerda Nergaard
Sitka Public School Ketchikan High School
Certificates Are Being Sent To All Honorable Mention Winners
I
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\ .. Alaska Salmon Institute
^mes C. Leveque B#rD*r
S t A T T l B * KETCHIKAN • JUNEAU
40
Magnuson Predicts Clash
With Interior Sec. McKay
Over Pacific NW Power
WASHINGTON, UP) — Public
power policies advocated by new
Secretary of the Interior Douglas
McKay were scored by Sen. Mag
nusen (D-Wash) Wednesday dur
ing Senate debate on President
Eisenhower’s cabinet selections.
Magnuson asked that he be re
corded as voting “no” on the for
mer Oregon governor after pre
dicting a “head-on fight” over de
velopment of Pacific Northwest
water resources.
McKay and seven crther Eisen
hower nominations were voted
into the cabinet after the debate.
Magnuson attacked McKay’s
views on both public jjower and
Alaska statehood, describing them
ns being “opposed to what I be
lieve are the views of the people
of the Pacific Northwest.
Senators Morse (Ind-Ore), Cha
vez (D-NM), and Holland (D-Fla)
also joined in the debate.
Morse said he would not oppose
McKay’s appointment but added
he found his views and McKay’s
“completely at odds on merits
of various issues.” Morse said he
planned further comment on the
appointment soon.
It is believed that there are
more than 25,000 distinct forms of
birds.
South Burma Arms
For Expected Thrust
By Karen Rebels
RANGOON, Burma, UP) — Rein
forcements were rushed into
South Burma by air and river
Thursday to counter an expected
thrust by Karen rebels toward
file important seaport of Moul
mein, Burma’s third largest city.
The Burmese army reported
Wednesday that it had suffered
heavy casualties in fighting with
Karen troops at Kawkareik, on
the Thailand border 40 miles east
of Moulmein.
The battle has been the blood
iest since the Karens revolted in
1948 and demanded a separate
state.
The surface of the Mediterra
nean is slightly lower than that
of the Atlantic because of heavy
evaporation in the Mediterranean.
Another evening of
Entertainment with
The V. F. W.
at the Pioneer Hall
Saturday Night
Jan. 24 — 7:30 p.m.
GAMES — PRIZES
! Everyone Welcome!
*- . ... *
MINERS & MERCHANTS
BANK OF ALASKA
NOME ALASKA