Discussion 2 - Introduction to Corporations Instructions: Part 1: In your post, address the following: 1. What is the fundamental reason the reported amount of net income per books and the reported amount of taxable income generally are different? What are example that create a difference between the two amounts? Explain. 2. What is the purpose of Schedule M-1 on the Form 1120? 3. How is the treatment of net capital losses for corporations different from the treatment of net capital losses for individuals? 4. If Corporation A receives dividends from Corporation B, the dividends would be subject to triple taxation. What tax provision is available to corporations that would prevent or minimize triple taxation? Briefly explain. Discussion 2 - Introduction to Corporations Instructions: Part 1: In your post, address the following: 1. What is the fundamental reason the reported amount of net income per books and the reported amount of taxable income generally are different? What are example that create a difference between the two amounts? Explain. 2. What is the purpose of Schedule M-1 on the Form 1120? 3. How is the treatment of net capital losses for corporations different from the treatment of net capital losses for individuals? 4. If Corporation A receives dividends from Corporation B, the dividends would be subject to triple taxation. What tax provision is available to corporations that would prevent or minimize triple taxation? Briefly explain