Skinner Corporation, a Calendar Year C Corporation, Had the Following

question 50

Multiple Choice

Skinner Corporation, a calendar year C corporation, had the following transactions during 2020: $$\begin{array} { l r } \text { Income from operations } & \$ 800,000 \\\text { Expenses from operations } & 900,000 \\\text { Dividends from Siskin Corporation (20\% ownership) } & 200,000\end{array}$$ Skinner's taxable income (or NOL) for 2020 is:

• A)$100,000 taxable income.
• B)$30,000 NOL.
• C)$60,000 NOL.
• D)$100,000 NOL.

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