Abc company owns 40 percent of jmt company and 95 percent, Accounting Basics

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Abc company owns 40 percent of jmt company and 95 percent

ABC Company owns 40 percent of JMT Company and 95 percent of DEM Company. JMT pays a $100,000 dividend to ABC and DEM pays a $40,000 dividend to ABC in 2013. Assuming that ABC has $1,000,000 of taxable income, calculate ABC's dividends received deduction for 2013

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Accounting Basics: Abc company owns 40 percent of jmt company and 95 percent

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