Which of the following statements is incorrect with respect to determining current E & P?
A) All tax-exempt income should be added back to taxable income.
B) Dividends received deductions should be added back to taxable income.
C) Current year charitable contributions in excess of the 10% of taxable income limit should be subtracted from taxable income.
D) Federal income tax refunds should be added back to taxable income.
E) None of the above statements are incorrect.

Question

Quizplus · Accepted Answer

All the statements provided are correct with respect to determining current Earnings and Profits (E & P).

Which of the Following Statements Is Incorrect with Respect to Determining