I appreciate your explanation. I found different answers on this questions and it can be confusing.

1. A taxpayer is required by law to provide the payer's name, address, and tax identification number when reporting which type of interest on their return? A. Installment sales. B. Nominee interest.

2. Permanent adjustments on Schedule M-1 (Form 1065) include: A. Depreciation, amortization, and depletion. B. Government penalties paid, political expenses, and 50% of deductible meals C. Political expenses, depreciation, and 50% of deductible meals. D. 50% of meals and 100% of entertainment, depletion, and government penalties paid.