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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. Required: a. Dividend of $19,500 from a 45% owned corporation; taxable income before DRD of $78,500. b. Dividend of $24,700 from a 15% owned corporation; taxable income before DRD of $94,000. c. Dividend of $21,000 from a 60% owned corporation; taxable income before DRD of $11,800. d. Dividend of $7,500 from a 10% owned corporation; taxable income before DRD of $6,440. Answer is complete but not entirely correct
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