Determine the amount that will be displayed on schedule

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At the end of 2021, Lanson has a GRIP of $35,000. For 2022, Lanson has taxable income of $960,000. This amount includes net taxable capital gains of $65,000, mortgage interest received of $23,000, and a net capital loss carryforward deduction of $14,000. In addition, the Company receives eligible dividends during the year of $85,000. In determining 2022 tax payable, the Company has a small business deduction of $42,750. During 2022, Lanson pays dividends in 2022 of $78,000, with $42,000 of this amount being designated as eligible. No dividends were paid in 2021. Determine the amount that will be displayed on Schedule 53 - Line 590. Round your final answer to the nearest dollar.

Do not round intermediary answers. Do not use $ signs in your final answer.

Reference no: EM133253924

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