One curveball that the CPA Exam could throw at you for Regulation are items not deductible on Form 1065 Schedule K, but that instead flow through to the K-1 such as:
Investment interest
Foreign taxes paid
Charitable contributions
179 expense
One curveball that the CPA Exam could throw at you for Regulation are items not deductible on Form 1065 Schedule K, but that instead flow through to the K-1 such as:
Investment interest
Foreign taxes paid
Charitable contributions
179 expense