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Federal Income Tax Return of Harry and Bess Truman

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HARRY S. AND BESS W. TRUMAN Income Tax Returns CARDS 1960 Stallworth Prine Total Moore Young Sweeny Helveston Citronelle Oil production $ 5,968.62 2,537.96 404.49 - 1,044.97 1,981.20 Expenses: Intangible drilling and development 1,822.91 1,547.33 275.58 - - - Operating 1,714.04 353.26 175.61 69.91 430.53 684.73 Depreciation 839.30 257.37 60.98 67.42 149.38 304.15 Total expenses 4,376.25 2,157.96 512.17 137.33 579.91 988.88 Income (loss) before depletion 1,592.37 380.00 (107.68) (137.33) 465.06 992.32 Depletion 918.69 190.00 - - 232.53 496.16 Net income (loss) 673.68 190.00 (107.68) (137.33) 232.53 496.16 Depreciation schedule: Asset balance 1-1-60 9,046.29 2,495.14 677.53 749.14 1,752.17 3,372.31 Net additions 558.56 729.09 - - (184.77) 14.24 Balance 12-31-60 9,604.85 3,224.23 677.53 749.14 1,567.40 3,386.55 Average balance 9,325.57 2,859.68 677.53 749.14 1,659.78 3,379.44 Less 10% salvage 932.55 285.97 67.75 74.91 165.98 337.94 Depreciable base 8,393.02 2,573.71 609.78 674.23 1,493.80 3,041.50 Depreciation at 10% 839.30 257.37 60.98 67.42 149.38 304.15 Reserve at 1-1-60 1,144.32 462.64 156.53 166.19 78.85 280.11 Reserve at 12-31-60 $ 1,983.62 720.01 217.51 233.61 228.23 584.26 Taxpayer hereby elects to deduct as expenses intangible drilling and development cost incufred during the taxable year ended December 31, 1960, pursuant to the provisions of Section 263(c) of the Internal Revenue Code of 1954. Missouri: Income before depletion $ 1,592.37 Allowable depletion -0- Net income $ 1,592.37

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Media ID
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    "ocrText": "HARRY S. AND BESS W. TRUMAN\nIncome Tax Returns\nCARDS\n1960\nStallworth\nPrine\nTotal\nMoore\nYoung\nSweeny Helveston Citronelle\nOil production\n$ 5,968.62\n2,537.96\n404.49\n-\n1,044.97\n1,981.20\nExpenses:\nIntangible drilling and development\n1,822.91\n1,547.33\n275.58\n-\n-\n-\nOperating\n1,714.04\n353.26\n175.61\n69.91\n430.53\n684.73\nDepreciation\n839.30\n257.37\n60.98\n67.42\n149.38\n304.15\nTotal expenses\n4,376.25\n2,157.96\n512.17\n137.33\n579.91\n988.88\nIncome (loss) before depletion\n1,592.37\n380.00\n(107.68)\n(137.33)\n465.06\n992.32\nDepletion\n918.69\n190.00\n-\n-\n232.53\n496.16\nNet income (loss)\n673.68\n190.00\n(107.68)\n(137.33)\n232.53\n496.16\nDepreciation schedule:\nAsset balance 1-1-60\n9,046.29\n2,495.14\n677.53\n749.14\n1,752.17\n3,372.31\nNet additions\n558.56\n729.09\n-\n-\n(184.77)\n14.24\nBalance 12-31-60\n9,604.85\n3,224.23\n677.53\n749.14\n1,567.40\n3,386.55\nAverage balance\n9,325.57\n2,859.68\n677.53\n749.14\n1,659.78\n3,379.44\nLess 10% salvage\n932.55\n285.97\n67.75\n74.91\n165.98\n337.94\nDepreciable base\n8,393.02\n2,573.71\n609.78\n674.23\n1,493.80\n3,041.50\nDepreciation at 10%\n839.30\n257.37\n60.98\n67.42\n149.38\n304.15\nReserve at 1-1-60\n1,144.32\n462.64\n156.53\n166.19\n78.85\n280.11\nReserve at 12-31-60\n$ 1,983.62\n720.01\n217.51\n233.61\n228.23\n584.26\nTaxpayer hereby elects to deduct as expenses intangible drilling and development cost incufred during\nthe taxable year ended December 31, 1960, pursuant to the provisions of Section 263(c) of the Internal\nRevenue Code of 1954.\nMissouri:\nIncome before depletion\n$ 1,592.37\nAllowable depletion\n-0-\nNet income\n$ 1,592.37"
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