Multiple Choice
Schedule M-1 of Form 1120 is used to reconcile financial net income with taxable income reported on the corporation's income tax return as follows: net income per books + additions - subtractions = taxable income.Which of the following items is an addition on Schedule M-1?
A) Premiums paid on key employee life insurance.
B) Proceeds of life insurance paid on death of key employee.
C) Charitable contributions carryover from previous year.
D) Tax-exempt interest.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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