Masonry Magazine June 1971 Page. 26
Taxes
(Continued from page 21)
half of the pension fund and reported the $43,062 distribution as a long-term capital gain.
The question presented to the court was could this divorcee report this amount as a long-term capital gain or must she report it as ordinary income?
The Court held that the divorcee was neither an employee nor separated from the service of the employer within the meaning of the Code and therefore she must report the distribution as ordinary income. Bussey v. U.S. (D.C.Tex. 1970.)
PROPERTY TAXES
A taxpayer paid the property taxes on property owned by her mother for the two years prior to the transfer to the taxpayer of the property by her mother. But, the Tax Court refused to allow her to deduct the amount of the taxes paid. The Court found that the taxpayer had no interest in the property during the two years that preceded her receipt of it from her mother. As these taxes were not imposed upon her they were not deductible by her. Cramer v. Commissioner, 55 TC No. 103.
Operation Transition
(Continued from page 18)
ideals for which he fought. He has made the constructive first step by volunteering for the training. Second, he was trained specifically to fit your needs. He has practiced building the typical walls, corners and piers common to today's residential construction site. Your tax dollars paid for it, and you can save down time by hiring the already-trained veteran.
Q. Individually, what kind of man is he?
A. He is a mature, motivated ex-serviceman looking for the rewards of a constructive career in civilian life. Average age is 21. Many trainees are married. He is simply the boy next door coming home.
Q. What kind of training did he get?
A. Daily trowel practice on 8 inch and 12 inch walls, return corners, block walls, windows and door openings, piers and pilasters. In many cases, he built finished permanent projects on the post-small buildings, gate posts, barbeque grills, etc.
Q. I am interested. How can I get further information?
A. Best way is to fill out the coupon below and mail it. You may also contact your local president or MCAA Executive Office.
Advertisers Index...
LET THEM KNOW YOU SAW IT IN MASONRY
A
Anchor Manufacturing Co.
Avce Felker Corp.
21
19
D
Desa Industries, Power Products Div.
24
E
Robert G. Evans Co. (Target)
20
General Portland Cement Co., Warmfone
Giant Industries
Gilson Brothers Co.
Back Cover
12
23
I
International Masonry Institute
3rd Cover
M
Morgen Manufacturing Co.
N
National Concrete Masonry Association
13
O
Ohio Lime Company
Oury Engineering Co., Division of Harsco Corp.
10
9
P
Patent Scaffolding Co., Div. of Harsco Corp.
Prime-Mover Co., Div. of Hon Industries
Second Cover
16
R
Reimann & Georger, Inc.
24
T
Trinity White, General Portland Cement Co.
4
V
Yeughan & Bushnell Mig. Co.
26
This index is published as a convenience to the reader. Every core is taken to make it accurate but masonry assumes no responsibilities for errors or omissions.
YOU'RE
SURE when you
pick up a
VAUGHAN
MASONRY
TOOL
Sure of its
dependability
• Sure of its
durability
• Sure of its
hand comfort
and striking
power
Vaughan
tools reflect
more than 100
years of superior
toolmaking-with
design features..
highest quality carbos
steel and select
hickory handles
sare-lock fitted to the
head, When you ask for
VAUGHAN you're getting
the finest!
Hand
drilling
hammers
Bricklayer
hammers. Exclusive
carbide tungsten
cutting edge (optional)
Bricklayer
chisels
stas pue
VAUGHAN & BUSHNELL MFG. CO.
11414 MAPLE AVE., HEBRON, ILL. 60034
masonry • June, 1971