Designate by an A if the item would be an addition to book income in determining taxable income; designate by an S if the item would be a subtraction from book income in determining taxable income.
-Carryover of a charitable contribution from a prior year

Question

Quizplus · Accepted Answer

Carryover of a charitable contribution from a prior year would be a subtraction from book income in determining taxable income because it represents an expense that was not deducted for tax purposes in the prior year and is now being used to reduce taxable income.

Designate by an a If the Item Would Be an Addition