Question
Dee Corp, a domestic corporation, owns 50% of the vote and value of Fixture Corp, a foreign corporation that meets the provision of IRC Sec
Dee Corp, a domestic corporation, owns 50% of the vote and value of Fixture Corp, a foreign corporation that meets the provision of IRC Sec 245.
Fixture Corp's total post 1986 E & P is $400,000, of which 300,000 is US based. Fixture Corp paid a dividend to Dee Corp in the amount of $80,000.
What is Dee Corporation's dividend received deduction related to the dividend received from Fixture Corp?
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Edition
0471347744, 978-0471347743
