Lak Corp. has the following information. Non-Eligible RDTOH balance on January 1, 2020 is $ 10,500 .

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Lak Corp. has the following information.

Non-Eligible RDTOH balance on January 1, 2020 is $ 10,500 . Company claimed no dividend refund in 2019.

Other information for the current year ended December 31, 2020 is:

Taxable income: $ 591,000
Income eligible for Small Business Deduction: $ 493,000
Aggregate investment income: $ 130,000
Part I taxes payable: $ 88,000. None of the income earned is foreign income. Lak Corp. is not subject to IV tax.

What is the non-eligible RDTOH balance at the end of the year 2020?

Related Book For answer-question

Financial Accounting in an Economic Context

ISBN: 978-1119444367

10th edition

Authors: Jamie Pratt

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Posted Date: Mar 30, 2023 03:47 AM

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Lak Corp. has the following information. Non-Eligible RDTOH balance on January 1, 2020 is $ 10,500 .

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Financial Accounting in an Economic Context

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