What is the amount of meridians dividends received

Reference no: EM133662537

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

Reference no: EM133662537

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