To determine current E & P, taxable income must be increased for any dividends received deduction.

Name: To determine current E & P, taxable income must be increased for any dividends received deduction.
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Question

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To determine current Earnings and Profits (E&P), taxable income is adjusted by certain items, including an increase for any dividends received deduction, because these deductions reduce taxable income but do not reflect a reduction in the economic capacity of the corporation.

To Determine Current E & P, Taxable Income Must Be