Identify which of the following statements is true.
A) The ACE adjustment is required of S corporations.
B) The 70% dividends-received deduction reduces preadjustment AMTI to arrive at ACE.
C) The 80% dividends-received deduction can be claimed when computing a corporation's adjusted current earnings (ACE) .
D) All of the above are false.
Correct Answer:
Verified
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