How much of this actual dividend is taxable to jumper

Reference no: EM133612309

Required: In 2023, the CFC's income was $600,000, none of which was subpart F income or GILTI, and it distributed a $300,000 dividend to its shareholders ($120,000 to Jumper). How much of this actual dividend is taxable to Jumper in 2023? Compute Jumper's basis in its CFC stock at the beginning of 2024.

Reference no: EM133612309

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