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Jazz Corporation owns 50 percent of the Williams Corp. stock. Williams distributed a $26,000 dividend to Jazz Corporation. Jazz Corp.'s taxable income before the dividend was $101,600. What is the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp.

Respuesta :

sadddamkashmiri801

Answer:

$20800

Explanation:

As we know that the company Jazz Incorporation owns 50% of the total shares of William Corporation which is more than 20% and less than 80% of the available stocks.

The company is entitled to 80% dividends received deduction ($26,000 × 80%) which is:

$26000 * 80% = $20800

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