In the current year, Pelican, Inc., incurs $50,000 of nondeductible fines and penalties. Its depreciation expense is

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In the current year, Pelican, Inc., incurs $50,000 of nondeductible fines and penalties. Its depreciation expense is $245,000 for financial statement purposes and $310,000 for tax purposes. How is this information reported on Schedule M–3?

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South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

ISBN: 9781305399884

39th Edition

Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young

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Question Posted: Sep 09, 2015 06:37 AM

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In the current year, Pelican, Inc., incurs $50,000 of nondeductible fines and penalties. Its depreciation expense is

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Pelican Inc reports the fines and penalties on line 12 Par...View the full answer

South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

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