Which of the following qualifies for the dividends-received deduction? A. Dividends on deposits in a mutual...
Which of the following qualifies for the dividends-received deduction?
A. Dividends on deposits in a mutual savings bank.
B. Dividends from a real estate investment trust.
C. Dividends from a taxable domestic corporation.
D. Dividends from a DISC paid out of accumulated DISC income.
Homework Answers
Dividends from a taxable domestic corporation qualify for the dividends received deduction. The correct option is C.
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Which of the following qualifies for the dividends-received
deduction?
A. Dividends on deposits in a mutual...
2. Which of the following statements is incorrect regarding the dividends received deduction? a. A corporation...
2. Which of the following statements is incorrect regarding the dividends received deduction? a. A corporation must hold stock for more than 90 days in order to qualify for a deduction with respect to dividends on such stock. b. The taxable income limitation does not apply with respect to the 100% deduction available to members of an affiliated group c. If a stock purchase is financed 75% by debt, the deduction for dividends on such stock is reduced by 75%....
Which of the following statements is incorrect regarding the dividends received deduction? a. The taxable income...
Which of the following statements is incorrect regarding the dividends received deduction? a. The taxable income limitation does not apply if the normal deduction (i.e., 50% or 65% of dividends) results in a net operating loss for the corporatio Ob. If a stock purchase is financed 75% by debt, the deduction for dividends on such stock is reduced by 75%. c. The taxable income limitation does not apply with respect to the 100% deduction available to members of an affiliated...
Q11 Identify which of the following statements is true. The dividends-received deduction is designed to reduce...
Q11 Identify which of the following statements is true. The dividends-received deduction is designed to reduce double taxation of corporate dividends. The full 65% dividends-received deduction is available without restriction. If a corporation receives dividends eligible for the 65% dividends-received deduction and the 50% dividends-received deduction, the 50% dividends-received deduction reduces taxable income prior to the 65% deduction. All of the above are false.
84) Eagle Corporation, a personal holding company, has the following results: Taxable income $200,000 Dividends-received deduction &nbs
84) Eagle Corporation, a personal holding company, has the following results: Taxable income $200,000 Dividends-received deduction 30,000 Excess charitable contributions 10,000 Long-term capital gains 10,000 Federal income taxes 61,000 Calculate the PHC tax. 85) Raptor Corporation is a PHC for 2009 and reports $200,000 of taxable income on its federal income tax return. Operating profit $100,000 Long-term capital gain 80,000 Dividends (20%-owned corporation) 90,000 Interest 100,000 Gross income 370,000 Salaries expense (50,000) General and administrative expense (25,000) Dividends-received deduction (72,000)...
7. Identify which of the following statements is false. A) The 65% dividends-received deduction can be claimed when comp...
7. Identify which of the following statements is false. A) The 65% dividends-received deduction can be claimed when computing a corporation's undistributed personal holding company income (UPHCI). B) Rental expenses in excess of rental income are added back to taxable income to arrive at personal holding company income (PHCI). C) Ramirez Corporation is a personal holding company. Its taxable income for this year is $75,000. The corporation's charitable contributions are $10,000 greater than its income tax charitable contribution deduction limitation....
Thanks For your HELP!!! 13. When computing the accumulated earnings tax, the dividends-paid deduction is not...
Thanks For your HELP!!! 13. When computing the accumulated earnings tax, the dividends-paid deduction is not available for A) dividends paid during the tax year. B) throwback dividends. C) stock dividends. D) All of the above are deductible. 15. When computing the accumulated earnings tax, which of the following is not a reduction to arrive at accumulated taxable income? A) accumulated earnings credit B) NOL deduction claimed C) accrued federal income taxes D) dividends-paid deduction
TRUE OR FALSE? 3. A "C" corporation is allowed an "ordinary and necessary deduction for dividends...
TRUE OR FALSE?
3. A "C" corporation is allowed an "ordinary and necessary deduction for dividends paid to shareholders. 4. In many situations, a "C" corporation receiving a dividend from another "C" corporation may deduct 50% of the dividends received from taxable income.
Which of the following is deductible in calculating dividend received deduction modified taxable income? A) Charitable...
Which of the following is deductible in calculating dividend received deduction modified taxable income? A) Charitable contribution deduction B) Net capital loss carrybacks C) Net operating loss carryovers D) Dividends received deduction Why?
Because of the taxable income limitation, no dividends received deduction is allowed if a corporation has...
Because of the taxable income limitation, no dividends received deduction is allowed if a corporation has an NOL for the current taxable year. True False
21. Taxable interest received by the taxpayer is reported on which of the following forms? A. Form 1040 (secon...
21. Taxable interest received by the taxpayer is reported on which of the following forms? A. Form 1040 (second page) and Schedule A. B. Form 1040 (second page) and Schedule B. C. Form 1040 (second page) and Schedule D. 22. Which one of the following statements describes dividends? A. Dividends on insurance policies are generally taxable. B. Exempt-interest dividends received from a mutual fund are included in gross income, but at a favorable tax rate. C. Nontaxable dividends reduce the...
2. Which of the following statements is incorrect regarding the dividends received deduction? a. A corporation must hold stock for more than 90 days in order to qualify for a deduction with respect to dividends on such stock. b. The taxable income limitation does not apply with respect to the 100% deduction available to members of an affiliated group c. If a stock purchase is financed 75% by debt, the deduction for dividends on such stock is reduced by 75%....
Which of the following statements is incorrect regarding the dividends received deduction? a. The taxable income limitation does not apply if the normal deduction (i.e., 50% or 65% of dividends) results in a net operating loss for the corporatio Ob. If a stock purchase is financed 75% by debt, the deduction for dividends on such stock is reduced by 75%. c. The taxable income limitation does not apply with respect to the 100% deduction available to members of an affiliated...
TRUE OR FALSE?
3. A "C" corporation is allowed an "ordinary and necessary deduction for dividends paid to shareholders. 4. In many situations, a "C" corporation receiving a dividend from another "C" corporation may deduct 50% of the dividends received from taxable income.
Because of the taxable income limitation, no dividends received deduction is allowed if a corporation has an NOL for the current taxable year. True False
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