Which of the following items would be added to taxable income when calculating C
ID: 2522462 • Letter: W
Question
Which of the following items would be added to taxable income when calculating Current Earnings and Profits (E&P), select all that apply..
Capital Loss carryforward from prior year, used in current year
Municipal Bond Income
Federal Income Taxes
Non-deductible expenses (e.g., 50% of meals and entertainment)
Dividends Received Deduction
A.Capital Loss carryforward from prior year, used in current year
B.Municipal Bond Income
C.Federal Income Taxes
D.Non-deductible expenses (e.g., 50% of meals and entertainment)
E.Dividends Received Deduction
Explanation / Answer
Answer
B. Municipal bond income
C. Dividend received deduction
Federal income tax refunds can be add. Not federal income tax
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