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What is the dividends received deduction

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Reference no: EM132673405

Problem - Gold and Silver are two unrelated calendar year corporations. For the current year, both entities incurred the following transactions.

 

Gold

Silver

Income from operations

$220,000

$260,000

Expenses from operations

22.5,000

340,000

Dividends received from domestic corporations (15% ownership)

100,000

130,000

Taxable income before dividends received deduction

$95,000

$50,000

Required - What is the dividends received deduction for:

a. Gold Corporation?

b. Silver Corporation?

Reference no: EM132673405

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