Identify which of the following statements is true.

A) For expenses incurred after December 31, 2017, no deduction is allowed for any activities involving entertainment, amusement, or recreation, including expenses related to a facility used in connection with these activities.
B) The Dividends Received Deduction for individuals is limited to 50%.
C) Domestic Production Activities Deduction carry overs that originated from pre 2018 tax years are limited to 50% of taxable income until 2025.
D) Deductibility of business interest in a given year is limited to 80% of adjusted taxable income.


A) For expenses incurred after December 31, 2017, no deduction is allowed for any activities involving entertainment, amusement, or recreation, including expenses related to a facility used in connection with these activities.

Business

You might also like to view...

Communication from management during the Sago mine tragedy was handled in a timely and effective manner

Indicate whether the statement is true or false

Business

Explain the importance of the concept of active listening.

What will be an ideal response?

Business

Generally, the secretary of state may commence an administrative proceeding to dissolve a corporation when the corporation:

a. does not pay franchise taxes or penalties immediately when due. b. does not deliver its annual report within ten days after it is due. c. is without a registered agent in the state for more than 60 days. d. All of these.

Business

Eligibility for unemployment compensation requires that the ________ occur in a specific set of circumstances

a. disability b. unemployment c. idleness d. termination

Business