For its taxable year ending December 31, 2012, T Corporation has the following taxable income and deductible expenses: $$\begin{array} { l r }
\text { Gross income from operations } & \$ 205,000 \
\text { Deductible expenses of operations } & 218,000 \
\text { Dividends received } & 35,000
\end{array}$$ The dividends were received from a taxable domestic corporation in which T owns 15 percent of the stock (not debt-financed).What is T Corporation's dividends-received deduction for 2012?

Question

For its taxable year ending December 31, 2012, T Corporation has the following taxable income and deductible expenses: $$\begin{array} { l r } 
\text { Gross income from operations } & \$ 205,000 \
\text { Deductible expenses of operations } & 218,000 \
\text { Dividends received } & 35,000
\end{array}$$ The dividends were received from a taxable domestic corporation in which T owns 15 percent of the stock (not debt-financed).What is T Corporation's dividends-received deduction for 2012?

Quizplus · Accepted Answer

The Answer of For its taxable year ending December 31, 2012, T Corporation has the following taxable income and deductible expenses: $$\begin{array} { l r } 
\text { Gross income from operations } & \$ 205,000 \
\text { Deductible expenses of operations } & 218,000 \
\text { Dividends received } & 35,000
\end{array}$$ The dividends were received from a taxable domestic corporation in which T owns 15 percent of the stock (not debt-financed).What is T Corporation's dividends-received deduction for 2012?

For Its Taxable Year Ending December 31, 2012, T Corporation