Determine the amount of dividends received deduction in each of the following instances In all cases, the net income figure includes the full dividend a Dividend of $10,000 from a 45 owned corporation taxable income before DRD of $50,000 b Dividend of $19,000 from a 15 owned corporation taxable inc...

a Notaxable income limitation The DRD is 10000 x 80 8000 b N ...

Determine the amount of dividends received deduction in each of the following instances. In all cases, the

Question:

Determine the amount of dividends received deduction in each of the following instances. In all cases, the net income figure includes the full
a. of $10,000 from a 45%owned corporation; taxable income before DRD of $50,000.
b. of $19,000 from a 15%owned corporation; taxable income before DRD of $75,000.
c. of $22,000 from a 60%owned corporation; taxable income before DRD of $11,000.
d. of $8,000 from a 10%owned corporation; taxable income before DRD of $7,000.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...