Discussion Post
Determine the Tax Consequences of the Following Transactions
• Tractor Corp receives $100,000 of interest income from a Bank based on its checking account balance.
• Tractor Corp receives a dividend from Wheeling It, Inc., a U.S. subsidiary corporation, in the amount of $300,000 and a dividend of $50,000 from Microsoft stock. Tractor owns 85% of the stock of Wheeling It, Inc. and less than 1% of stock of Microsoft.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.