What federal taxable income in determining

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Dough Company sold an asset on the first day of the tax year for $100,000. Dough’s tax basis for the asset was $40,000. Because of differences in cost recovery schedules, the state regular-tax basis in the asset was $60,000. What adjustment, if any, should be made to Federal taxable income in determining the correct state taxable income for the typical state?

Reference no: EM13143857

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