Adjusted Taxable Income Is Defined as Follows for Purposes of the Business

question 100

Multiple Choice

Adjusted taxable income is defined as follows for purposes of the business interest limitation:

• A)taxable income allocable to the business computed without regard to interest income; depreciation, amortization, or depletion; interest expense; and net operating loss deductions.
• B)30 percent of revenue after deducting depreciation and interest expense.
• C)taxable income allocable to debt invested in the business.
• D)interest income after deducting 30 percent of all deductible expenses.
• E)None of the choices are correct.