Determine the amount of the dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend. Use Dividends deduction table. Dividend of $11,500 from a 45% owned corporation; taxable income before DRD of $54,500. Dividend of $19,900 from a 15% owned corporation; taxable income before DRD of $78,000. Dividend of $13,000 from a 60% owned corporation; taxable income before DRD of $7,000. Dividend of $3,500 from a 10% owned corporation; taxable income before DRD of $2,760. a. Dividend received deduction b. Dividend received deduction c. Dividend received deduction d. Dividend received deduction

Determine the amount of the dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend. Use Dividends deduction table. Dividend of $11,500 from a 45% owned corporation; taxable income before DRD of $54,500. Dividend of $19,900 from a 15% owned corporation; taxable income before DRD of $78,000. Dividend of $13,000 from a 60% owned corporation; taxable income before DRD of $7,000. Dividend of $3,500 from a 10% owned corporation; taxable income before DRD of $2,760. a. Dividend received deduction b. Dividend received deduction c. Dividend received deduction d. Dividend received deduction

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter20: Corporations And Parterships

Section: Chapter Questions

Problem 42P

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Hw.67. Determine the amount of the dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend. Use Dividends deduction table. Required: Dividend of $14,000 from a 45% owned corporation; taxable income before DRD of $62,000. Dividend of $21,400 from a 15% owned corporation; taxable income before DRD of $83,000. Dividend of $15,500 from a 60% owned corporation; taxable income before DRD of $8,500. Dividend of $4,750 from a 10% owned corporation; taxable income before DRD of $3,910.
Determine the amount of the dividends received deduction in each of the followinginstances. In all cases, the net income figure includes the full dividend.a. Dividend of $10,000 from a 45% owned corporation; taxable income before DRDof $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 ofSI1.000.d. Dividend of $8.000 from a 10% owned corporation; taxable income before DRD of$7.000.
The following taxpayers who received a dividend income from a domestic corporation will received a net of 10% final withholding RA NRAETB NRC RC
Which of the following statements is correct? A) The federal dividend tax credit is equal to 38 percent of the eligible dividends received. B) The federal dividend tax credit is equal to 6/11 of the gross up on eligible dividends received. C) The federal dividend tax credit is equal to 15 percent of the non-eligible dividends received. D) The federal dividend tax credit is equal to 6/11 of the gross up on non-eligible dividends received.
Assume that a corporation has $100,000 of taxable income from operations plus $5,000 of interest income and $10,000 of dividend income. What is the company’s federal tax liability?