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Calculator In completing Schedule M-1 (reconciliation of income per books with income per tax return) of Form 1120, to net income per books: a. Subtract

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Calculator In completing Schedule M-1 (reconciliation of income per books with income per tax return) of Form 1120, to net income per books: a. Subtract Federal income tax. b. Add tax-exempt interest. c. Add proceeds of term life insurance received by the corporation due to the death of a key employee. d. Add excess of capital loss over capital gain. e. None of these choices are correct. Previous Next

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