Question: This year Prewer Inc received a 160 000 dividend on its
This year, Prewer Inc. received a $160,000 dividend on its investment consisting of 16 percent of the outstanding stock of TKS Inc., a taxable domestic corporation. Before considering this dividend, Prewer had a $43,500 operating loss for the year. It also had a $31,300 NOL carryover deduction from the prior year. What is Prewer’s taxable income this year?
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