Question: Permanent adjustments on Schedule M-1 (Form 1065) include: Depreciation, amortization, and depletion. premiums paid for life insurance policies on key employees, lobbying expenses, and tax-exempt

Permanent adjustments on Schedule M-1 (Form 1065) include: Depreciation, amortization, and depletion. premiums paid for life insurance policies on key employees, lobbying expenses, and tax-exempt interest. Political expenses, depletion, and 50% of deductible meals. 100% of entertainment, amortization, and expenses related to tax-exempt income.

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