Jazz Corporation Owns 10% of the Williams Corp

question 114

Multiple Choice

Jazz Corporation owns 10% of the Williams Corp. stock. Williams distributed a $10,000 dividend to Jazz Corporation. Jazz Corp.'s taxable income (loss) before the dividend was ($6,000) . What is the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp.?

• A) $0
• B) $2,800
• C) $4,200
• D)$7,000
• E)None of these

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