Which Transaction Affects the Other Adjustments Account on an S

question 47

Multiple Choice

Which transaction affects the Other Adjustments Account on an S corporation's Schedule M-2?

• A)Payroll penalty.
• B)Unreasonable compensation.
• C)Life insurance proceeds (nontaxable to the recipient S corporation).
• D)Taxable interest.
• E)None of the above affects the OAA.

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