For Purposes of Determining Current E&P, Which of the Following

question 95

Multiple Choice

For purposes of determining current E&P, which of the following items cannot be deducted in the year incurred?

• A)charitable contribution in excess of the 10% limitation
• B)capital losses in excess of capital gains
• C)life insurance premiums (in excess of the increase in cash surrender value for the policy)paid on the lives of key employees
• D)dividends-received deduction

---

Definitions:

Oral Contraceptives

A type of birth control that is taken by mouth, including pills that prevent ovulation.

Estrogen

The principal female hormone, regulating reproductive functions and the development of secondary sex characteristics.

Minipill

A type of birth control pill that contains only progestin, which is less likely to cause some of the side effects associated with estrogen-containing pills.

Oral Pills

A form of medication taken by mouth, specifically used here to likely refer to contraceptives used to prevent pregnancy.