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Schedule M-1 Book/Tax Differences |
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Taxable Income Before Special Deductions
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Note that line 10 of Schedule M-1 does not reconcile to actual
Taxable income (line 30) on
Page 1 of the tax return. Instead, the Schedule M-1 is reconciling
to Taxable income before net operating
loss deduction and special deductions (line 28). Thus,
net operating losses and the dividends-received
deduction are not necessary adjustments in the Schedule M-1
reconciliation. |
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Copyright © 1998 Bizzer Professional Training |
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