Schedule M 1 Form 1120

In this session, I explained schedule M-1 of form 1120.
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[@salahmaleknakhla3026]

Thank you prof.

[@AccountingLectures]

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[@rowenalobo3598]

Good one.

[@AccountingLectures]

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[@28balaji]

thank u

[@AccountingLectures]

Thank you and please visit the website for more farhatlectures.com/

[@backseateats9513]

I am confused.
So is a tax return for an entity basically a cash basis ?
Accrual books to tax cash -?

[@minismom09]

Very useful

[@AccountingLectures]

Most welcome. Please check my website for more. Start your free trial : farhatlectures.com/

[@eishuagarwal9239]

But capital losses can be adjusted up to $3000 with net income. Right?

[@popopopo5339]

$3000 is for individuals, not for corporations. Corporations are not allowed to deduct this $3000

[@sakshisood7739]

please explain for 1065 also

[@user-pl4ky4fk5f]

I wonder why GAAP is not in line with the IRS when it comes to income reporting , deductions ect. This would negate all of this I think unnecessary accounting. Really enjoy your videos though. As an accounting student its helping me out tremendously.

[@headlibrarian1996]

Sure, but the government wants you to fill out this junk form even if you keep books in tax form rather than GAAP. Really burns non-public corporations who generally don’t bother with GAAP.