Schedule M-1 Book/Tax Differences Bizzer Professional Training


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4. Taxable Deductions Not Charged Against Book Income
This category generally includes deductions that are accelerated for tax purposes due to the use of different conventions between book and tax. Some examples of tax deductions not charged against book income include:

  1. Tax depreciation in excess of book depreciation.
  2. Accrued expenses which were not deductible in the prior year (due to lack of economic performance, §267, etc.) but which were satisfied in the current year

Are Schedule M-1 adjustments for these types of items added to or subtracted from book income to arrive at taxable income?

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