Income Tax Primer Explains Schedule E and Depreciation Rules
This article reviews the updated Schedule E for pensions and annuities, explains how to compute the taxable portion using investment and expected return figures, covers non taxable government and veteran pensions, and guides depreciation calculations on rental property including partial-home scenarios and straight line methods. It also notes rental income reporting on Schedule F and other related schedules for various income types.
MENTIONED IN THIS ARTICLE
Richard A. Mullen
NEA
Emr
Armed Forces
Internal Revenue Service
Virginia Veterinarian Plans Eden for Alcoholics Retreat
Virginia veterinarian Dr. Frank Humphrey, a 10 year sober alcoholic, plans a 359 acre Culpeper farm called Lord Willing as a salvage center for recovering alcoholics. Ten men at a time will work under a farmer’s supervision with no doctors on site. The project aims to place up to 100 men a year back on their feet through outdoor living, gardening, and dairy work, relying on self motivation and community volunteers.
MENTIONED IN THIS ARTICLE
Hal Boyle
Frank Humphrey
Virginia
Dr. Humphrey
Culpeper
Lord Willing
Humphrey
Dry
Alcoholics Anonymous Club
Baltimore
Privilege Auction Lets Bidder Pie Librarian at Otterbein
Westerville students raised funds for study abroad by auctioning perks including a chocolate pie throw. Dayton junior Bonnett bid five dollars and hit Otterbein librarian John Becker, drawing a grin from the professor while the campus fundraiser continued.
MENTIONED IN THIS ARTICLE
Westerville
Ohio
Walter Bennett
Otterbein College
Bonnett
Dayton
Otterbein
John Becker
Personal Deductions for Future Tax Years
The note discusses deductions for health and accident insurance reimbursements used to offset medical expenses in a prior year and notes future personal deductions to consider tomorrow.
Zemo Cure Claims Quick Relief for Skin Rash
Zemo, a doctor's formula, relieves itching from surface rashes including eczema prickly heat and athlete's foot. It stops scratching and aids faster healing. Extra Strength Zemo marketed for stubborn cases.
MENTIONED IN THIS ARTICLE
Zemo
Press Agent Is Freed In Shooting Case
LOS ANGELES Anthony Kent press agent for meat packing heir George Hormel II was freed after the court dismissed a charge that he fired a gun into an inhabited dwelling. The judge ruled the January 9 shot at Hormel's house was without malice and Kent had claimed it was a publicity stunt tied to Hormel's marijuana acquittal.
MENTIONED IN THIS ARTICLE
Los Angeles
Anthony Kent
George Hormel II
Hormel
Kent
Painter Survives 50-Foot Fall From Sign Platform
Walter Smard, 25, fell three stories while painting a sign in Detroit. He escaped with cut hands a sore hip and a twisted ankle after gripping wires and brackets that slowed his 50 foot descent. The Continental Divide note at end is unrelated to event.
MENTIONED IN THIS ARTICLE
Detroit
Walter Smard
Also Mentioned on This Page
Bos
Eden
Vice Paint CO
113
Commerce
Gilbert E. Marsh
North State Telephone CO
High Point
Randleman
Thomasville
Harold T. Jarrell
Howard C. Jarrell
Church Street
Saunders
E. Washington
Montana
Lumber Company
JUST
America
Mfgr’s
MED
Gray
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