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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 08, 1970
Page
4
A 1970 guidance article explains tax advantages for seniors including an extra $600 exemption after age 65, possible tax-free home sale profits under five of eight years ownership, and a Retirement Income Credit. It notes that wives may claim the additional exemption, and emphasizes reporting age on Form 1940 for the 85 or over threshold.
A report notes a Rome visit by Cambodian Chi Oni and hints at tax details about long term capital gains and retirement credits. The text references a $30,000 gain, tax percentages, and credits tied to earned income, pensions, and separate returns, plus a note about a royal couple proceeding to the Riviera after Rome.
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