Publisher's Synopsis
Excerpt from Statistics of Income for 1952, Vol. 1: Individual and Fiduciary Income Tax Returns
Statistical data presented in this report cover the income year 1952. The source documents are individual income tax returns, Form 1040 and Form 1040a, and fiduciary income tax returns, Form 1041, both taxable and non taxable. With the inclusion of the nontaxable fiduciary returns, the statistics for fiduciary returns embody comprehensive data for the income from estates and trusts. Income, deductions, exemptions, taxes, and other important in formation reported on these returns are presented by various classifications of taxpayers, size of income, tax status, and other relevant groupings. Gift tax returns filed for gifts made in 1952 and estate tax returns filed during 1953 were not processed by the Statistics Division; therefore no data for these re turns are included in this report. Under present plans, however, both gift tax returns and estate tax returns will be processed for next year's report.
The first part of this report pertains to the individual income tax returns and contains data from Form 1040, whether short-form or long-form, and from the employee's Optional returns, Forms 104oa. Although Form 1040a differs from Form 1040, it is possible to integrate the data reported on the vari ous forms and no distinction is made in the tabulations. Current year data are presented in 13 basic tables; in addition, Significant historical series for 1944 and subsequent years are given in 6 tables.
The second part of this report presents data reported on fiduciary income tax returns, Forms 1041. The current year statistics are tabulated in 8 basic tables and include data for both taxable and nontaxable fiduciary returns. This is the first year since 1939 that the nontaxable fiduciary returns have been processed by the Division. With the inclusion of the nontaxable returns, the data now show the entire income from estates and from property held in trust even though the trust income was distributable to beneficiaries to the extent that none was taxable to the fiduciary. Data characteristic of fiduciary re turns differ somewhat from those for individual returns; however, statistics from fiduciary returns are presented, so far as possible, in tables similar to those for individual returns, so that these data may be associated. Two historical tables, showing data for taxable fiduciary returns only, follow the current year tabulations.
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