Question
Determine the amount of the dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend.
Determine the amount of the dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend. Use Dividends deduction table.
a. Dividend of $17,000 from a 45% owned corporation; taxable income before DRD of $71,000.
Dividend received deduction?
b. Dividend of $23,200 from a 15% owned corporation; taxable income before DRD of $89,000.
Dividend received deduction?
c. Dividend of $18,500 from a 60% owned corporation; taxable income before DRD of $10,300.
Dividend received deduction?
d. Dividend of $6,250 from a 10% owned corporation; taxable income before DRD of $5,290.
Dividend received deduction?
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The Basics Of IT Audit Purposes Processes And Practical Information
Authors: Stephen D. Gantz
1st Edition
0124171591, 978-0124171596
