.
 

Lines 4 & 5, Business and real property income and expenses.

New Form B 122A-1, Lines 5 & 6

  • Must be "ordinary and necessary," i.e., a reasonable operating expense.
  • Depreciation is not included.
  • Line "c" cannot be a negative number.

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Jurisdictional relevance: US

Legal Consumer - Marquette County, MILaw. The content of this article pertains to all US states and counties.