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Which, if any, of the following transactions incurred by an S corporation is not

ID: 2699984 • Letter: W

Question

Which, if any, of the following transactions incurred by an S corporation is not a separately stated item? Answer
a. AMT adjustments and tax preference items.
b. Domestic production activities deduction (DPAD).
c. Amortization of organizational expenditures.
d. Tax-exempt income.
e. Foreign tax credit. Which, if any, of the following transactions incurred by an S corporation is not a separately stated item? Which, if any, of the following transactions incurred by an S corporation is not a separately stated item? AMT adjustments and tax preference items. Domestic production activities deduction (DPAD). Amortization of organizational expenditures. Tax-exempt income. Foreign tax credit.
a. AMT adjustments and tax preference items.
b. Domestic production activities deduction (DPAD).
c. Amortization of organizational expenditures.
d. Tax-exempt income.
e. Foreign tax credit.

Explanation / Answer

b)