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Understanding gross income for 1920 tax returns
Washington DC January 13. The bureau of internal revenue clarifies items to be included as gross income on 1920 tax returns. Income covers wages salaries profits from business and property, interest rents dividends and all sources. Deductions reduce net income. Wage earners, business and professional people, and farmers must report all compensation and profits including notes, property sales, and farm income. Partnerships taxed to individuals. fiduciary incomes tax applies to estates trusts and similar.
MENTIONED IN THIS ARTICLE
Washington, D. C
Bureau of Internal Pyeduue