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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 39
Determine the amount of dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend.
a. Dividend of $10,000 from a 45% owned corporation; taxable income before DRD of $50,000.
b. Dividend of $19,000 from a 15% owned corporation; taxable income before DRD of $75,000.
c. Dividend of $22,000 from a 60% owned corporation; taxable income before DRD of $11,000.
d. Dividend of $8,000 from a 10% owned corporation; taxable income before DRD of $7,000.
a. Dividend of $10,000 from a 45% owned corporation; taxable income before DRD of $50,000.
b. Dividend of $19,000 from a 15% owned corporation; taxable income before DRD of $75,000.
c. Dividend of $22,000 from a 60% owned corporation; taxable income before DRD of $11,000.
d. Dividend of $8,000 from a 10% owned corporation; taxable income before DRD of $7,000.
Explanation
Verified
Verified
a. No taxable income limitation. The DRD...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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