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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Feb 12, 1968
Page
6
Sylvia Porter explains 1967 Form 1040 changes including health insurance premium deductions up to 150, capital gain reporting simplifications for mutual fund dividends, and new sales tax deduction rules. The column outlines how itemized deductions and exemptions affect various taxpayers and previews next topics.
Municipal Court judge Erich Auerbach announced he will seek one of the Superior Court seats becoming vacant when two judges retire at the end of their current terms. Auerbach, 53, is a University of South graduate and UPI reports from Los Angeles.
A California legal figure who studied at the state law school in 1952 gained a seat on the Municipal Court in 1984 after being appointed by former Governor Edmund G. Brown.
From AMIN LOS ANGELES UP I FSMNS weekly feedlot and range sales show slaughter steers and heifers steady to 25 higher with limited high quality finished cattle. Feeder cattle demand mixed with 470 to 1,000 pound ranges quoted. Citrus prices steady with California oranges and valencias trading near prior levels. alfalfa hay priced per grade with No 1 and No 2 notes.
In a California community property state, IRS experts say heavy losses or high medical insurance premiums may favor filing separate income tax returns for married couples. For joint returns, up to $1,000 of net capital loss is deductible, with one half on each return if separate. Medical premiums over $300 may be split, allowing up to $150 per return when filing separately.
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