Bass Corporation received a dividend of $80,000 from Trout Corporation.Bass owns 15% of the Trout Corporation stock.Assuming it is not subject to the taxable income limitation,Bass's dividends received deduction is $64,000.

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The deduction percentage for less than 20% ownership is 70%.The dividends received deduction would be $56,000 ($80,000 F1F1F1S1F1F1F10 70%).

Bass Corporation Received a Dividend of $80,000 from Trout Corporation