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Old 10-30-2014, 10:30 AM
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How do write off deferred tax liability

A Corporation had an investment in K-1 that was recorded under the equity method. The final K-1 was issued this year what would happend to the DTL balance on the corp books? The deffered was calculated for 10 years as follows:
The book gain/Loss was taken out/added of PTI and the tax gain/loss was taken out/ added to PTI. For instance, if the book gain was 300 and the tax gain was 200, a favorable M adj. of 100 was recorded that year.



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