SIXTY-FIFTH CONGRESS. Sess. I. Ch. 63. 1917. 331 Sec. 1203. (1) That section seven of such Act of September eighth, ’N°°**,,';*;,!Ts¤*¤N°· nineteen hundred and sixteen, is hereby amended to read as foliowsz Pemonalaxeninptions. ‘ ‘Sec. 7. That for the purplose of the normal tax only, there shall be ,,,Y,`§L3.,f°* p‘ 7**1* allowed as an exemption in the nature of a deduction from the amount mf‘§*}d&§{°*§¤¤,3'g50??g; of the net income of each citizen or resident of the United States, citiwus or mihauts. ascertained as provided herein, the sum of $3,000, plus $1,000 addi- :”‘€·*" 3°‘· tional if the person making the return be a head of a family or a aa.Il‘},}ti°?.'}.S`;;',?1’°°° U married man with a wife living with him, or plus the sum of $1,000 additional if the person making the return be a married woman with a husband living with her; but in no event shall this additional exemption of $1,000 be deducted by both a husband and a wife: P _ Provided, That onlyfolne illeillucgiondo $3,00p shalll behmade from lphe Liiiiiaoiiea. ageateincomeo ot usan an wiewenyingtogeter: r I Puigriaged further, That if the erson making the retum is the head of a mdimtlgtxd. family there shall be an adcdtional exemption of $200 for each child dependent upon such person, if under §hteen years of age, or if incapable of self-support because ment y or plpysically defective, but this provision shall operate only in the case o one parent in the G , or tm same family: Promkled further, That guardians or trustees shall be ms. allowed to make this personal exemption as to income derived from the property of which such guardian or trustee has charge in favor of Mmmm each ward or cestui que trust: Provided further, That in no event ° shall a ward or cestui que trust be allowed a greater personal exemption than as provided in this section, from the amount of net income received·from all sources. There shall also be allowed an exemption ,,,‘1“""‘¥ ***1* from the amount of the net income of estates of deceased citizens or residents of the United States during the period of administration or settlement, and of trust or other estates of citizens or residents $f,'}f‘,,,°f"{,;§k6 ,5,, of the United States the income of which is not distributed annually ' or regularly under the dprovisions of subdivision (b) of section two, the sum 0 $3,000, in uding such deduotionsas are allowed under °°iti°°s£iii” (1. 1 11 A r Se Amr at ‘ _ 2) u ivision ) 0 section seven of suc ct 0 tember ,1,,,, “ °“°"f°°“' eighth, nineteen hundred and sixteen, is hereby re aled. P Pxaiuéli rigallgii re- Sec. 1204. (1) That subdivisions (c) and (e) ofm section eight of mains commas. such Act of ieptember eighth, nineteen hundred and sixteen, are °· ”“» hereby amend to read as follows: G I d "(c) Guardians, trustees, executors, administrators, receivers, con- nauums. °° mm servators, and all persons, corporations, or associations, acting in any fiduciary capacity, shall make and render a return of the income of the person, trust, or estate for whom or which the act, and be subgact to all_ the pxrovisions of this title which qgply to individuals. ,_md“,m°qu,nd_ uch fiduciary s all make oath that he has su cient knowledge of the affairs of such person, trust, or estate to enable him to make such return and that the same is, to the best of his knowledge and belief, true and correct, and be subject to all the provisions of this title ,,,,,,,,,,,_ which apply to individuals: Pmmkled, That a return made b one of 7¤i¤¢¤<1¤¤i¤ri¢s. two or more joint fiduciaries filed in the district where such diluciary resides, zmder such regulations as the Secretari of the Treasury may prescribe, shall be a sufficient com liance wit the requirements of hmm not m, this paragraph: Promkiul further, 'lliiat no retmn of income not ex- $3.000 exwpwdceedu&g9d$3,000 shall be required except as in this title otherwise provi . _ " (0) Persons carrying on business in partnership shall be liable for ilammuiiipaimbmzy mcome tax only in their individual capacity, and the share of the °“"‘ profits of the partnership to which any taxable partner would be entitled if the same were divided, whether divided or otherwise, shall bq returned for taxation and the tax dpsaid under the provisions of p,,,,_,,,_ this_t1tleg Promkled, That from the net tributive interests on which mxdgfm ““°"*’d the individual members shall be liable for tax, normal and additional, ` there shall be excluded their proportionate shares received from
