ACCOUNTING TAX

1. The following statements about the dividends-received deduction are true, except:

a. The stock on which dividends are received must be half for at least 46 days.

b. The deduction is not avilable if the long position is offset by a similar short position.

c. The deduction is limited to a percentage of taxable income prior to charitable contribution, net operating loss, and capital loss deductions.

d. Even if a consolidated return is not filed, a 100% dividends-received deduction is available for payments between members of the same affiliated group.