Maxwell's dividends-received deduction is
Maxwell Corporation reports the following results:
A) $30,000.
B) $35,000.
C) $56,000.
D) $70,000.
A) $30,000.
The dividends-received deduction is limited to $30,000 unless using the full $35,000 dividends-received deduction will produce a NOL (i.e., taxable income would be $25,000 ($60,000 - $35,000). As shown below, the full dividends-received deduction does not produce a NOL.
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