The Dividends Received Deduction May Be Subject to a Limitation

question 95

True/False

The dividends received deduction may be subject to a limitation based on a percentage of taxable income computed without regard to the NOL deduction, the domestic production activities deduction, the dividends received deduction, and any capital loss carryback to the current tax year.

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Definitions:

Iris

The colored part of the eye that controls the size of the pupil and the amount of light that enters the eye.

Pupil

The black circular opening in the center of the iris of the eye, which changes size to regulate the amount of light reaching the retina.

Lens

A piece of transparent material, such as glass or plastic, that bends light rays to form an image on a camera sensor or the retina of the eye.

Aqueous Humor

A clear fluid that fills the space in the front part of the eye, helping to maintain pressure and refract light.