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Relation of Nonfarm Proprietors' Income in the National Income and Product Accounts to Corresponding Measures as Published by the Internal Revenue Service.

Bureau of Economic Analysis
Table 7.14. Relation of Nonfarm Proprietors' Income in the National
Income and Product Accounts to Corresponding Measures as Published by
the Internal Revenue Service
[Billions of dollars]
Last Revised on: July 30, 2019

Line                                2011      2012      2013      2014

 1     Net profit (less loss)        600.2     786.6     795.8     863.7
       of nonfarm
       proprietorships and
       partnerships,
       plus payments
       to partners, IRS
       Plus:
 2       Adjustments for             580.5     636.7     639.8     688.8
         misreporting on
         income tax
         returns
 3       Posttabulation             -243.9    -353.7    -358.7    -433.5
         amendments
         and revisions (1)
 4       Depletion on                  2.3       2.2       2.1       1.8
         domestic minerals
 5       Adjustment to                12.2      17.8      15.5      22.4
         depreciate
         expenditures for
         mining exploration,
         shafts, and wells
 6       Bad debt expense             14.8      25.0      14.9      14.9
 7       Income received by            1.7       1.8       1.7       1.8
         fiduciaries
 8       Income of tax-exempt          6.2       6.9       7.1       7.7
         cooperatives
 9       Adjustment to depreciate      3.9       3.3       3.9       4.5
         expenditures for
         intellectual property
         products (2)
10       Disaster adjustments          0.0      -1.3       0.0       0.0
         (net) (3)
11     Equals: Nonfarm               977.7   1,125.4   1,122.2   1,172.2
       proprietors' income,
       NIPAs

Line                                2015      2016     2017      2018

 1     Net profit (less loss)        831.7     814.5       ---       ---
       of nonfarm
       proprietorships and
       partnerships,
       plus payments
       to partners, IRS
       Plus:
 2       Adjustments for             672.3     658.6     672.8       ---
         misreporting on
         income tax
         returns
 3       Posttabulation             -411.0    -356.3       ---       ---
         amendments
         and revisions (1)
 4       Depletion on                  1.4       1.2       ---       ---
         domestic minerals
 5       Adjustment to                 4.6     -13.8       ---       ---
         depreciate
         expenditures for
         mining exploration,
         shafts, and wells
 6       Bad debt expense             17.2      19.1       ---       ---
 7       Income received by            1.8       1.8       ---       ---
         fiduciaries
 8       Income of tax-exempt          7.5       7.1       6.9       7.2
         cooperatives
 9       Adjustment to depreciate      5.1       6.5       ---       ---
         expenditures for
         intellectual property
         products (2)
10       Disaster adjustments          0.0       0.0       ---       ---
         (net) (3)
11     Equals: Nonfarm             1,130.7   1,138.7   1,179.3   1,195.1
       proprietors' income,
       NIPAs

Legend / Footnotes:
(1.) Consists largely of an adjustment to expense all meals and
entertainment, of oil well bonus payments written off, of adjustments
for corporate partners and statutory employees, of interest income, and
of margins on owner-built housing.
(2.) Intellectual property consists of software, research and
development, and entertainment, literary, and artistic originals.
(3.) Consists of disaster losses valued at historic-cost less net
insurance receipts for disaster-related losses valued at
replacement-cost.
IRS Internal Revenue Service
NIPAs National income and product accounts
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Publication:Survey of Current Business
Date:Dec 1, 2019
Words:440
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