Book To Tax Reconciliation Net Income (loss) per Books 131 700 Add: Gain on Sale of MND Stock 12 000 Organizational Expenses 4 855 Less: Depreciation (2 500) Taxable Income 146 055 Gain on Sale of MND Stock Sale of Stock 38 000 Basis in Stock 8 000 Gain on...
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Book To Tax Reconciliation Net Income (loss) per Books 131 700 Add: Gain on Sale of MND Stock 12 000 Organizational Expenses 4 855 Less: Depreciation (2 500) Taxable Income 146 055 Gain on Sale of MND Stock Sale of Stock 38 000 Basis in Stock 8 000 Gain on Sale of Stock 30 000 Gain on Sale of MND Stock Booked 18 000 Tax Adjustment for Gain on Sale of MND Stock 12 000 Organizational Expenditures Legal Expenses 6 000 Miscellaneous Expenses 100 Total February Expenses 6 100 Less: Expensable Organizational Cost (5 000) Amortizable February Expenses 1 100 Amortizable Period 180 months Monthly Deductible Amount 6 per month Periods in 2012 11 Deductible Amount in 2012 67 Accounting Expenses 4 000 Amortizable May Expenses 4 000 Amortizable Period 180 months Monthly Deductible Amount 22 per month Periods in 2012 8 Deductible Amount in 2012 178 One-time Deduction 5 000 Amortized February Expenses 67 Amortized May Expenses 178 Total Organizational Expense Deduction 5 245 Organizational Expense Bo
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