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Chapter 5 Homework 1. In determining Blue Corporations current E& P for 2018, how should taxable income be adjusted as a result of the following

Chapter 5 Homework

1. In determining Blue Corporations current E& P for 2018, how should taxable income be adjusted as a result of the following transactions?

a. A capital loss carryover from 2017, fully used in 2018

b. Nondeductible meal expenses in 2018

c. Interest on municipal bonds received in 2018.

d. Nondeductible lobbying expenses in 2018.

e. Loss on a sale between related parties in 2018.

f. Federal income tax refund received in 2018.

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