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ABC Corporation has net income per books of $106,000 for 2019. This figure included a deduction for charitable contributions of $15,000 and a deduction for
ABC Corporation has net income per books of $106,000 for 2019. This figure included a deduction for charitable contributions of $15,000 and a deduction for a net short-term capital loss of $10,000. Included in income per books was $50,000 of dividend income received from a 15% owned domestic corporation. What is the amount of ABC's taxable income for 2019?
(According to current tax law)
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