Also keep in mind that the balance sheet on the tax return should agree to your overall books and records and is not a tax balance sheet.
So your balance sheet should reflect 100% deduction for M&E.
Adjusting for the M-1 should resolve this, but just wanted you to understand that your book income will not match the tax income and your M-1 is where this is reconciled.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
