A corporations taxable income before the dividends received, Ask an Expert

Accounting

A corporation's taxable income before the dividends received deduction (DRD) is $70,000. Included in this amount is dividend income of $60,000 from another corporation in which the taxpayer owns 85 percent of its stock outstanding. what is the corporation's taxable income after the DRD ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M998720

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