Question: Marathon Incorporated ( a C corporation ) reported $ 1 , 0 0 0 , 0 0 0 of taxable income in the current year.

Marathon Incorporated (a C corporation) reported $1,000,000 of taxable income in the current year. During the year, it distributed $100,000 as dividends to its shareholders as follows:
$5,000 to Guy, a 5 percent individual shareholder.
$15,000 to Little Rock Corporation, a 15 percent shareholder (C corporation).
$80,000 to other shareholders.
Note: Leave no answer blank. Enter zero if applicable.
d. Complete Form 1120 Schedule C for Little Rock Corporation to reflect its dividends-received deduction (use the most recent Form 1120 Schedule C available).
Note: Use the 2023 tax rules regardless of the year on the form.
Note: Visit the IRS website and download Form 1120 Schedule C. Enter the required values in the appropriate fields.

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