What is R Corporation dividends-received deduction

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Question - R Corporation had 2020 gross income of $200,000, including $100,000 of dividends received from a less than 20% owned taxable domestic corporation. R had deductible business expenses of $110,000 before considering its dividends-received deduction.

What is R Corporation's dividends-received deduction for 2020, assuming no restrictions other than the taxable income limitation may apply?

How would your answer change if R Corporation's gross income was $180,000 instead of $200,000 and its deductible business expenses were $130,000?

Reference no: EM132863111

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