Although a corporation may report a temporary book-tax difference for an item of income or deduction for a given year, over the long term the total amount of income or deduction it reports with respect to that item will be the same for both book and tax purposes.
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Q1: Corporations may carry a net operating loss
Q3: Income that is included in book income,
Q4: For a corporation, goodwill created in an
Q5: For tax purposes, a corporation may deduct
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