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Which of these items is not an adjustment to taxable income or net loss to compute current E&P?

a. Disallowed portion of meal expenditures.
b. Executive compensation.
c. Tax exempt life insurance proceeds.
d. Federal income taxes paid or accrued

Respuesta :

aaregbe

Answer:

d. Federal income taxes paid or accrued

Explanation:

There are different items considered as a taxable income adjustment. The taxable income adjustment is usually computed by subtracting exemptions such as itemized or personal deductions from the adjusted gross income. However, a refund due to taxes conducted in the previous year is not one of the taxable income adjustment.

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