Question $6(3$ points$)$

The following statements about the dividends$-$received deduction are true except:

The stock on which dividends are received must be held for at least $46$ days

The deduction is not available if the long position is offset by a similar short position

Even if a consolidated return is not filed, a $100$ percent dividends$-$received deduction is available for payments between members of the same affiliated group

The deduction is limited to a percentage of taxable income prior to charitable contribution, net operating loss, and capital loss deductions