Which of These Items Is Not an Adjustment to Taxable

question 58

Multiple Choice

Which of these items is not an adjustment to taxable income or net loss to compute current E&P?

• A) Net capital loss carryforward utilized in the current year from the prior year tax return.
• B) Refund of prior year taxes for an accrual method taxpayer.
• C) Dividends received deduction.
• D) Tax-exempt income.

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Definitions:

Computer Software

Programs and operational data that tell a computer how to perform specific tasks.

Digital Media

Digital media refers to content or data that are stored in digital formats for creating, viewing, distributing, modifying, and preserving on digital devices.

Pictures

Visual representations captured through photography or created through art that illustrate scenes, people, or concepts.

Biometric Devices

Devices that use unique physical or behavioral characteristics for identifying and verifying the identities of individuals.