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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Jan 13, 1958
Page
7
The article answers tax questions about transfers to family, home sale reinvestment gains, and calculating six month long term capital gains. It notes losses from dealings with a family member are not deductible and explains when a home sale reinvestment avoids tax, plus how the six month holding period is computed with August 1 1955 as an example.
Vatican sources on Sunday dismissed Moscow’s offer of possible relations with the Vatican as a mere gesture to bolster Soviet propaganda. They said Russia’s claim of readiness to collaborate with the Vatican serves primarily to push a peace propaganda line.
Tax guidance shows deducting investment losses on stocks or bonds reported on Schedule D with Form 1040. personal property losses like a home or car are not deductible. It covers redecorating costs within 90 days of signing a sale contract, gains when buying a new home, and detailed steps for filling Schedule D including depreciation, cost basis, and long versus short term holding periods.
New York reports the Ford Foundation, the wealthiest philanthropic body, has surpassed one billion dollars in gifts from the Henry Ford fortune. Established in 1936 by Henry Ford and Edsel Ford, the foundation announced grants and appropriations totaling 63 million for the year ending September 30, with the largest single grant noted.
Grants totaling 24 500 000 dollars come from Ford Motor Company stock to expand a national program. The plan aims to address a shortage of college teachers as it funds expansion and distribution of funds through corporate sources.
Buenos Aires newspapers report no rise in cost of living last month, the first monthly decrease since 1944. Economists note stable prices amid easing demand and currency stability in the capital. Local shoppers express cautious optimism about continued affordability.
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