Solved: Delta corporation owns 2 of the stock in a us corporation, Accounting Basics

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Delta corporation owns 2 of the stock in a us corporation

Question - Delta corporation owns 2% of the stock in a U.S. corporation Azul. It receives a dividend from that corporation of $100,000. Delta has $3MM of taxable income not including the dividend from Azul.

a) How much gross income from the dividend does Delta report?

b) What if any deduction would Delta be entitled to?

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Accounting Basics: Delta corporation owns 2 of the stock in a us corporation

Reference No:- TGS02660943

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Accounting Basics: Delta corporation owns 2 of the stock in a us corporation

Reference No:- TGS02660943

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