Page 6 example          
ITEM GROSS TAI DNI CORPUS TAX INC.
           
Income (Ordinary) 9,000  Yes Yes No Yes
Capital Gains 4,000  No No Yes Yes
Deductions-Inc (400) Yes Yes No Yes
Deductions-Corpus (1,500) No Yes Yes Yes
Tax Exempt Income   Yes Yes No No
  ----- ----- ----- ----- -----
TOTAL 11,100  0  0  0  0 
Tax Exempt     (Adjustment)    
      -----    
DNI DEDUCTION     0    0 
LESS: PERS. EXEMPT     ======   (300)
          -
TAXABLE INCOME         (300)
          ======
Page 6, Example           
ITEM GROSS TAI DNI CORPUS TAX INC.
           
Income 9,000  9,000  9,000    9,000 
Capital Gains 4,000    0  4,000  4,000 
Deductions-Inc (400) (400) (400)   (400)
Deductions-Corpus (1,500)   (1,500) (1,500) (1,500)
Tax Exempt Income          
  ----- ----- ----- ----- -----
TOTAL 11,100  8,600  7,100  2,500  11,100 
Tax Exempt     0     
      -----    
DNI DEDUCTION     7,100    (7,100)
LESS: PERS. EXEMPT     ======   (300)
          -----
TAXABLE INCOME         3,700 
          ======
Page 6 example          
ITEM GROSS TAI DNI CORPUS TAX INC.
           
Income 31,000  31,000  31,000    31,000 
Capital Gains 9,000  3,000  3,000  6,000  9,000 
Deductions (8,000) (8,000) (8,000)   (8,000)
Tax Exempt Income 7,000  7,000  7,000     
  ----- ----- ----- ----- -----
TOTAL 39,000  33,000  33,000  6,000  32,000 
Tax Exempt     (7,000)    
      -----    
DNI DEDUCTION     26,000    (26,000)
LESS: PERS. EXEMPT     ======   (300)
LESS DNI DEDUCTION          
TAXABLE INCOME         5,700 
          ======
Parapraph 3421:          
ITEM GROSS TAI DNI CORPUS TAX INC.

Last Updated on 11/18/98
By Malamud

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