The following chart shows ownership percentages of Devon Corp. in X, Y, and Z Corporations and dividends
Question:
The following chart shows ownership percentages of Devon Corp. in X, Y, and Z Corporations and dividends received by Devon from these corporations in 2016.
Devon is a calendar-year corporation and received no other dividends in 2016. What amount of dividend income must be included by Devon on its 2016 corporate tax return?
a. $126,000
b. $114,000
c. $94,000
d. $106,000
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Answer is Option C C 94000 Explanation A corporations dividendsreceived deduction is ...View the full answer
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Related Book For 
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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