The F.Repens Corporation has taxable income of $250,000 for 2013,including dividends of $50,000 received from 30 percent-owned domestic corporations.How much is the F.Repens Corporation's dividends received deduction for 2013?

Question

Quizplus · Accepted Answer

The dividends received deduction for a corporation owning 20% to less than 80% of another corporation is 80% of the dividends received. Therefore, 80% of $50,000 is $40,000.

The FRepens Corporation Has Taxable Income of $250,000 for 2013,including Dividends