LO.5 USCo, a domestic corporation, reports worldwide taxable income of $500,000, including a $300,000 dividend from ForCo,
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LO.5 USCo, a domestic corporation, reports worldwide taxable income of $500,000, including a $300,000 dividend from ForCo, a wholly owned foreign corporation. ForCo holds $1 million in undistributed E & P, and it has paid $200,000 of foreign income taxes attributable to these earnings. All foreign income is in the general limitation basket.
What is USCo’s deemed-paid FTC related to the dividend received (before consideration of any limitation)?
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Related Book For 
South Western Federal Taxation 2013 Corporations Partnerships Estates And Trusts
ISBN: 9781133495574
36th Edition
Authors: William H. Hoffman, William A. Raabe, James E. Smith, David M. Maloney
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