Question
110 Corp. has the following information. Non-Eligible RDTOH balance on January1, 2020: $26,000 (This balance includes the dividend refund received for the previous taxationyear, 2019.)
110 Corp. has the following information.
Non-Eligible RDTOH balance on January1, 2020: $26,000 (This balance includes the dividend refund received for the previous taxationyear, 2019.)
Other information for the current year ended December31, 2020 is:
Taxableincome: $750,000
Income eligible for the Small BusinessDeduction: $487,500
Aggregate investmentincome: $110,000
Part 1 taxespayable: $88,300.
None of the income earned isforeign, and 110 Corp. was not subject to Part IV tax during the current year. What is theNon-Eligible RDTOH balance at the end of 2020?
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
3rd edition
78025427, 978-0077736460, 007773646X, 978-0078025426
