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

question 60

Multiple Choice

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

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

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