Page 137 - Large Business IRS Training Guides

Adjusted Taxable Income (cont’d)

• For tax years beginning before 2022, any deduction for

depreciation, amortization, or depletion attributable to a

trade or business; and

• Adjustments described in published guidance.

Remember, TI is a comprehensive computation that includes

adjustments to income for IRC §§ 263A and 267, as well as

basis, at-risk and passive activity loss limitations.

• Therefore, the additions and subtractions are limited to the

amount the item affects TI.

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