Item 31c. Other income
241. Item 31c. Entry for each sample person 14 years old and over.-There must be an entry of an amount or a check in the "None" box for each person 14 years of age and over who is on a sample line. The amount must be entered to the nearest whole dollar, not in dollars and cents. Enter "10,000+" if amount received was more than $10,000. Enter "Loss" above amount if there was a loss on rental of property.
242. Time period covered by item 31c.-January 1, 1949, through December 31, 1949.
243. General definition of other income.-"Other income" is money income of the types illustrated in paragraph 244 below; it represents all kinds of income except money received in direct return for work done as an employee or in own business.
244. Specific types of "Other income":
a.Alimony.-Money received periodically after a divorce or legal separation.
b.Annuity.-Money received periodically as return on an investment wherein a person purchases the right to receive a monthly, annual, or other periodic income.
.-Money received periodically from persons who are not members of the household, such as: Allotments received from members of the armed forces, and money received by parents from children not living with them.
Occasional gifts should not be regarded as income. (See par. 233e.
d.Dependency allotments.-Money received in the form of dependency allotment checks by relatives of enlisted members of the armed forces. The wife of an enlisted man receives a monthly payment of $50 with an additional $30 for the first child and $20 for each additional child. Dependency allotments may also be received by relatives other than wives and children; the usual maximum monthly amounts are $37, $50, and $68, varying by degree of dependency and number of dependents.
In addition to dependency allotments, servicemen may send home voluntary allotments. Such receipts should also be entered in item 31c.
e.Dividends.-Money received by the stockholders of a corporation or association, and cash dividends and patronage refunds of cooperatives.
f.Estates and trusts.-Periodic payments received from an estate or a trust fund. Lump-sum receipts from estates or trust funds, however, are not income.
g.Fiduciary income.-A fiduciary is a trustee, executor, or administrator who holds property in trust for others. Periodic payments received from a fiduciary are income from an estate or a trust (see par. 244J, above). Money which is held by the fiduciary and is not distributed is not income.
h.Gambling gains.-Money received from gambling, games of chance, prizes, etc. Gambling losses should not be deducted from income. The net income of a professional gambler should be entered in 31b.
j.Inheritances.-Periodic payments received from property bequeathed by a friend or relative. Lump-sum receipts from inheritances are not income.
k.Insurance receipts.-Periodic payments received from paid-up endowment policies, annuities, or from life insurance policies of a deceased person. Lump-sum insurance payments, however, are not income.
.-Money received for the use of money. Notes, bonds, bank deposits, and postal-savings certificates are the most common sources of interest.
Repayments to the person on the principal of a loan, withdrawals of deposits from savings or checking accounts, or accrued interest that has not yet been received, such as interest on "uncashed" U. S. savings bonds, are not included as interest. If U. S. savings bonds have been cashed, only the difference between the amount received and the original cost is to be included as interest.
m.Military bonuses.-Several States have paid cash bonuses to veterans of World War II. If military bonuses were received in 1949, they should be entered in item 31c.
n.Mustering-out pay.-Money received by veterans of World War II below the rank of major or lieutenant commander who served prior to July 1, 1947, and who were honorably discharged. Those without overseas service were entitled to $200 mustering-out pay and those with overseas service were entitled to $300 mustering-out pay.
o.Pensions.-Periodic payments received by a person who has retired from active service. Some types of pensions are: Money received from old-age or survivors insurance under the Social Security or Railroad Retirement Acts; old-age pensions received from States, counties, or other local governments; civil service pensions for retired government workers; veterans' pensions paid to disabled veterans; military pensions paid to retired members of the armed forces; pensions received from private corporations.
p.Relief payments.-Money received from local, State, or Federal relief agencies. Food, clothing, or other nonmonetary receipts from relief agencies are not income.
q.Rent income.-Cash rents received from property, less the costs incurred by the landlord in connection with the property. Costs include depreciation, taxes, repairs, insurance, interest on mortgages, real estate agent's commissions, etc. Do not include as expenses the cost of permanent improvements on the property.
r.Roomer or boarder income.-Gross receipts from roomers or boarders, less all expenses such as the cost of food served to boarders, laundry, share of the wages paid to a servant for cleaning, share of the rent paid for the house (or the estimated share of the taxes, depreciation, interest, etc.). The net receipts should be entered in item 31c.
If the respondent was the operator of a lodging house, the net income should be entered as "Income from own business" in item 31b.
.-See par. 239c.
t.Social Security benefits.-Money received under the Social Security program from any of the following sources: Old-age and survivors insurance; unemployment compensation; aid to dependent children (widows' pensions); aid to the blind; old-age assistance.
u.Unemployment compensation.-Money received from government unemployment agencies during periods of unemployment.
v. Veterans' payments.-Money received by veterans in the form of education and on-the-job training subsistence allowances, under the "GI Bill of Rights." Single veterans could have received a maximum of $75 per month while married veterans could have received between $105 and $120 per month. Also include mustering-out payments (see par. 244n above); disability pensions; rehabilitation allowances ($20 per week); State bonuses.
Veterans engaged in on-the-job training are paid by their employers and also receive training subsistence from the government. The amount received from the employer should be entered as "Wages or salary" in item 31a; the amount received from the government should be entered as "Other income" in item 31c.
w. Workmen's compensation.- Money received during 1949 from government agencies because of injuries incurred at work.
245. Location on Federal income tax form.-Not all of the "Other income" items will be found on the income tax form. A list of the items which can be found is shown below.
[Format modified from original:]
You should not ask the respondent to refer to income tax forms, but if he does so voluntarily, make use of the information.
246. .Receipts which are not income of any type.-Some money receipts are not considered income and are not to be included in any part of items 31a, b, and c. Specific types of receipts which are not income are:
-Money given to cover living expenses by one member of a family to another in the same household.
-Money borrowed from a bank, finance company, relatives, or other sources.
c. Capital gains and losses.
-Money received from the sale of a capital asset by persons who are not in the business of selling such commodities. The following are examples of the sale of capital assets:
a. The sale of stocks and bonds by persons who are not security dealers.
b. The sale of a house by a person who is not a dealer in real estate.
c. The sale of a private automobile by a person who is not a car dealer.
d. Lump-sum payments.
-Money received in one lump sum from insurance policies, estates, trusts, inheritances, gifts, etc. Only regular or periodic receipts from these sources are income.
e. Pay "in kind".
-Pay "in kind" is not included as income, even though received as payment for work performed and considered work for purposes of items 15 and 16.
-Refunds of money for merchandise purchased but returned, refunds of money deposited as an option for the right to purchase, refunds of overpayment of taxes, etc.
g. Withdrawals of savings.
-Money obtained from the withdrawals of bank deposits, the sale of U. S. savings bonds or other assets. Only the interest received from bank deposits, bonds, or loans is income. ( href="#244l">See par. 244l.)