Garcia Corporation (a calendar year, accrual basis C corporation) has the following income & expenses...
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Accounting
- Garcia Corporation (a calendar year, accrual basis C corporation) has the following income & expenses for 2022:
Gross receipts from US manufacturing operations 2,000,000
Operating Expenses 1,960,000
Dividends received from 20% owned domestic corp 400,000
Dividends received from 18% owned domestic corp 200,000
Net Operating Loss carryforward from last year 100,000
What is Garcia Corporations dividend-received deduction for 2022?
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