Schedule M-1 is used to reconcile net income as computed for financial accounting purposes with taxable income reported on the corporation's income tax return.

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Schedule M-1 is a form used by corporations filing U.S. federal income tax returns to reconcile the difference between financial accounting net income and taxable income reported on the tax return. This reconciliation helps the IRS understand the adjustments made from book to tax income.

Schedule M-1 Is Used to Reconcile Net Income as Computed