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Show fliv l It It The Salt Lake Tribune, rtimldv, Mai 11, y IT if lii iiilil Dminond Future tc i A - rer qf m i r' , i Paul r4 - 's 1 v S . C0, - ' I. $ fast P prevailing assumption was that the price of polished goods would soon catch up with the puce ot rough, Tribune Staff Writer Mr Even Zohr w iote Diamonds, the stones that ha e been the sub jet t of Today, prices of rough stones are about 10 novels, legends and movies, are the investment of the future, said Anthony Seymour, president of the Salt percent below last years high and syndicate products are traded for one to two percent afmve cost Kike City based Chailes An- There is little doubt, Mr Even Zohar continued, that thony Diamonds Inc. the prices of typical Israeli polished diamonds must And while the gems will go up Speculation vanes as to when and by how aways remain one of the favomuch, he wrote rite Chnstmas gifts of wives The syndicate he referred to is the De Reers and fnneeis, the resenes in Diamond Syndicate of London, which controls 85 the woild are rapidly depictpercent of investment diamond tiade in the world ing, Mr Seymour said That to And the grip that De Beers has on the woild a tact, he added will lead great bonanza for diamond industry makes the diamond market unique to other types of investment holders of the future Diamonds, Mr Seymour De Beers promised and has made ceitain said Mr. Seymour said, have not increased tn Mr Seymour, that the price of rough diamonds will alue for about the past six months But were on the never go down And, he said it never has edge of the htf, he said, and an a alam he is about Value fluctuates to hit " of polished diamonds w ill flue tuate, e The pru Mr Seymour said diamonds have increased in depending on several factors in the world mai ket price by 20 to 25 peicent over the last four years " Mr Seymour said the price of diamonds will be "The maiket has kept well ahead of inflation tied to the most stable currency It usually is tied to said the dollar, but with that currency fading in prestige, And what makes Mr Seymour think the industry the diamond could boticd to the Japanese yen or the Chaim recent by a aitule flood a to face is is about mark German s of Israel fven Zohar, past deputy dn eetor general owns about 15 miles of land at the Mr a diamond urn and cm diamond Seymour point government mouth of the Ohphant River in South Africa where he banker in that country opeiates a diamond recovery operation by dredging Claims Discrimination Ihe river bed Mr Fvon Zohar claims that the diamond syndi In that capacity, his firm is one of the 15 percent m against Israel i ate m the past had discriminated that is not controlled by the De Beers syndicate. He the foim of higher puces and lower quality rough said his which empoloyes 85 South operation stones foi the Israeli industry Africans with a pavroll of only $20,000 a month As a result the Israeli expert said, the- puce of averages almut $500,000 worth of diamond dispolished diamonds remained low. Isiaels diamond coveries eac h month industry x!ishes 52 percent of the woild s diamond supply He is also the publisher of the Gold and Diamond bi those it, famous days when the syndicate-attempteto blame the industry loi the pine Exchange, which provides one of several methods of fluctuations bv dunging that it was hoaidmg, the huv mg and selling piecious stones. Is 1 k v!v jet V- Roily com-paie- V V K Gem Value to Skyrocket? By Up ijvv 4J v V i -r- i wVuf'wiii-'ae-w,lk- f nV : sy '"al 1 i & j? a ifJ r i I d . Circle stones are diamonds recovered in South African operation of Sait Lake fn m r FOP Lease. PRIME INDUSTRIAL - dli AREA. Bol Of nt SdM IdKt ti i i hubdt h dt t mm Wel Pa'kwt Rvd Cl y ltdh bl H d zdic to Taxlorn A House Sale is only applic- able one time, is per owner or per family. Since our house is in both our names, could 'we exclude from profit of the sale of the II S. house? For amarried couple, the exclusion of gain on a principal residence may not exceed $100,000 That is the new federal rule. Check out . your state tax office for the rules applicable to your state income tax return ' Dear Mr. Smith: If 1 make an error and overpay ou Form 1040, is it all right to reduce my estimated tax for the ; following year? I didn't claim my full 'estimated tax when 1 filed my T.R.J. I would not advise you to do that. It is possible that IRS will correct your error and send you a refund, but I file an wouldnt depend upon it amended return on Form 104OX. Your estimated tax for this year should be the full amount required to avoid penalty Dear Mr. Smith: I formed a corporation with a friend with an initial investment of $10,04)0. However, the never got under way and , corporation the money was used up by my friend in trying to get more funds. I did not want to sue my friend for the money lost, but I do have written proof of the initial investment. How can I write this loss as a tax WTite-ofWidth forms are necessary? $200,000 , 10-t- GDoGamnoCED Report your loss for the year in w hich the corporation became completely 03D3DSB OEKB mm saffinsfe o W.htcnlStation O osmm omm L SALE ENDS Do you CANT AFFORD TO OWN A HOME YOU CANT AFFORD TO RENT AN OFFICE IF YOU wnizj fTj i CB RADIO. DONT DRIVE WITHOUT IT! 61079 WHEREVER YOU DRIVE in the USA or Canada Radio Shack has a store or dealer store, stocked with famous Realistic" CB radios Archer" antennas every warned CB accessory Better still, Raoio Shack CB prices are lower than ever Radio Shack CB service is nationwide CB HELPS YOU HELP YOURSELF! GET A REALISTIC CB RADIO FOR YOUR VEHICLE AT RADIO SHACK TODAY! Jacob Taxlorn," -- HF. GEE o have an income tax question? Write Smith, CPA, "Advice To The co InterOcean Press Syndicate, P O. Box 12092, Tucson, Ariz. 83732, with a stamped envelope, tor information that may help you. to f. held a romantic mystique, are growing as investment tool. Question defunct It is listed on Schedule D, as if you had sold your stock on Dec 31 for a price of zero It may be long term or short term, depending on the date you made the investment If not fully applied m the loss year, the balance may be carried over to the following year Dear Mr. Smith: Can net operating losses from rental property (Schedule E) which exceed the income (wages, interest, dividends, etc.) be used as a carryback or carryforward loss? If so, how are the losses reported on the tax B. H. return? Net operating losses from rental property, if large enough, may be carried back to three prior years by filing IRS form 1045. If you prefer, you may choose, instead, to carry forward to seven succeeding years In that case, enter your loss deduction as a minus item on form 1040, Page 1, Line 20 and attach a detailed computation. In each case, certain adjustments are required Obtain free IRS Publication 535 for illustrations. Dear Mr. Smith: I purchased a home in 1955. In 17 my wile and I got divorced. In the divorce agreement she was permitted to live in the house until my son reached the age of 18. We sold the house in September 1978, and my capital gain was $38,000. I am over 55. Mv tax agent says that I do not qualify for the $100,000 exclusion, because I did not live in the house the last two years. Is he right? As it stands, I have to pay Uncle Sam $0,000 and this hurts. This does not seem fair, since I had to pay for all repairs to the house. S M. I believe you are say mg that the home was not occupied by you as y our principal residence dunng at least three of the five years pnor to sale If so, your share of the gain could not be excluded. By J aeob Smith, CPA Dear Mr. Smith: My wife and I are both over 55 and have had our residence for three years. I would like to know if under the new federal tax law, the $100,0410 exclusion from the profit, which Diamonds have always been considered precious gifts, have And something else about CB mobue and base radio beaters use it the Coast Guard monitors Ch 9 in many areas the police monitor Ch 9 in many areas as do many restaurants and hotels Its a very cheap way to keep in touch with motorists ahead and behind, to call home to contact business offices and vehicles ay The Perfect CB Set for Any Emergency on the Road Realistic TRC-42- by 2 4? Features a switch for instantly changing to Emergency Channel 9 or Highway Information Channel 19 to qet help fast in any situation Fup me switch again and you re bac on your regular channel With installation hardware 211531 HOA m y it h tvt i it you flu on i1 sui I protp MHTWHIt PIS t l)y fnti i, t t t mq youf of t ? i t from tr pm ' I n ft dOOffit f din rr i f p fit f n it ff (JufM , 1 N ( Qfo f i tr u t v nor to t . . ; df Ip tirm fun yi Of profession d is U On ar ' t il f t t y n n t . l nr t w r, f f m AH ivl'l , if e nq th f tn j r n minium offices ( ff new and exc it nq r t n . nt i t r ' , r M it ff p a ! , t i it nt . i n in K .s ii t r r, il t iff C . f ) i iff-- fit If n if fh r ,t tn it 'ljt.lt J't fs k jnsif I rt Reg. 119,95 in 1979 Catalog p H if t , t , i r ' it ,r 10 f i , e i contj ceptb location dt3iqns con tr u i OAllu'f ,1 n ) ( thf nt t ssion nmtiAMAi pr k CdfKlf Ik ns Pld-- ( ,jf r ft WaMpn m n h You can enjoy tn' luxury of owning your r a oftiLf m a quc l i .! v il st fling t .vti t iT i jgf t fA iV tr n 't e i ty rr tf n j tr iff uims mo . r f jsM t Ours I u vn a o iM, if i v mt ufr ft 1 I ' Ml ! I v I' mq Pt nd immiums cj nt t if nt a nd nt di U y yr i n If on il htul a re Ik nr tnvenmnt if vo r ts but a so ( n ,t it in ial mvi 1 tnn nt f HJ mtt your ltlTUiy f f thf y t irs jtu id t , SALT LAKE CITY 4I15S Redwood 1 .,7A, 486-121- 2 BOUNTIFUL Rd Five Points Shoppinq Cottonwood Moll 680 S Stale St 2110 S 11th East 65 N 9th West Center CENTERVILLE 280 East Paqes Lane CLEARHELD 330 South Stale St 2981 E 33(10 St quality investment that you will be proud to "It s all mine say 5400 South Riverside Drive 415 5th Ave 2416 E 7000 South y A OH jiuN r Ts, JOB 4602 NO Valley Fair 1 F 3672 Wall Ave 19 HairiviHe Rd N. OGDEN 14 Harrisvilio Rd itruly Shop Cter OREM '088 South Stale SEPARATE INSERTION ORDER! Use this as authority to 4 ill KEARNS 4"19 South 4000 West OGDEN - 51379 - 934X14" insert this ad, 4602 on Sunday May 13. (II no Sunday edition, insert on first publication day thereafter ) M IT MOST S70H S PROVO GRANGER NOW FULL TELEPHONE SELECTION AT THESE STORES r Call us todav, visit us this allemoon Combine your professional caieer with a ALDEN CHAn(,t PRICES AT EVERY RADIO SHACK! (S Mm m not be df r HUGE SELECTION OF CB S AT BARGAIN 470 N University 85 North 500 West ROY 5821 South 1900 We! SANDY South Village Shop Ctr 9400 S 700 East Dealers In, tor th,s V q m uuf WEST JORDAN qhbqmoud Ml. si I'eiT s Ra 7921 S Redwood Rd Briarwood Plaza Shop Ctr MURRAY 6047 S State St Si Radio ftsek available a! ' 1 0 Shat k .Art may be resized to nearest column measurement 6 Col papers Col papers Average tize 4CX14 9 Col 5CX14 Tabloid gapers Average $ze RADIO SHACK ADVERTISING DEPT. 8 papers Average sue Full Page 6CX14 id |
