Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- Schedule M-1 DRD Increasing Net Income on Line 1
Schedule M-1 DRD Increasing Net Income on Line 1
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
HoustonCPA67
New Member
yesterday
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hello all,
On Schedule M-1 of an 1120 C-Corp Tax Return:
I'm running into an issue where I input the Dividends Received Deduction in "Deductions not Charged Against Book Income" section. This is for a Book - Tax adjustment. Pro Connect says you have to manually enter this adjustment which makes sense.
However, when I input the $40,000 DRD it also increases the Net Income (loss) per books on line 1 thereby completely throwing off the M-1 and M-2 calculations.
Any ideas? Your time is greatly appreciated.
Labels
