Show about income tax in making out his income tax re turn for the year 1922 the taxpayer is required to include all items of gross income in the case of a storekeeper the gross income consists usually of the gross profits on sales together with income from croff other sources the returns must show the gross sales purchases and cost of goods sold to reflect net income co correctly erectly and to as certain gross income inventories lr arc ordinarily required as of the t beginning and end of each taxable year the professional man doctor lawyer dentist must include all fees and other compensation for professional services The farmer is required to report as gross income all profits derived from the sale or exchange of farm products including crops and live stocal st ocl whether raised on the farm or purchased and resold A farmer who rents his farm on the crop sharing basis must report such income for the year in which lithe the crops are sold profit obtain ced from the sale or rental of farm lands also must be reported in order anat they must obtain full advantage of the deductions from gross income to which they A A A A A ai A A A A A A A A A A A are entitled taxpayers are advised by collectors of internal revenue to study carefully the instructions on the forms for making returns under the head income from business or profession a I 1 |