Question
Accrual Basis Books, Cash Basis Tax
Hello, question for adjustments on 1120s: Schedule B method of accounting is checked as cash, books are kept on accrual basis. I assume you fill out Schedule L on accrual basis with cash basis tax adjustments on Schedule M-1? Subtracting receivables, adding back payables line by line? Or do the adjustments go somewhere else?
Thank you.
