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Topic: Dividend received deduction (M-1??) (

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thesame2
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Posted: 25 Dec 2009 at 13:38 \| IP Logged

Xalina wrote:

From what I know, M-1 shows taxable income before the DRD and NOL Carry forward deduction. i.e Line 28 of p.1.
You deduct DRD and NOL on page 1 of the 1120 and not on M-1.

thanks a lot Xalina! Yes, M-1 doesn't include DRD, DRD shows on 1121 page1. Got it!!

One more maybe stupid question to make sure.....: so, all the income and deduction amounts show on page 1 of 1120 are the amount before M-1 adjustment (GAAP amount), or the amount after M-1 adjustment (Tax final amount)?

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Xalina
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Posted: 25 Dec 2009 at 17:14 \| IP Logged

They are tax amounts not GAAP....

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