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What adjustment will you need to make

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Question - DONAT Company reported current year E&P of $400,000 in 2020. This amount included a $10,000 payment for office life insurance premiums (the company is the beneficiary of the officer's life insurance policy). If you start with E&P of $400,000, what adjustment will you need to make for the premium for purposes of calculating taxable income?

a. a $10,000 addition.

b. a $10,000 deduction.

c. no adjustment.

d. none of the above.

Reference no: EM132718098

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