Alpha Corporation, a personal holding company, has the following results.
Taxable income $200,000
Dividends-received deduction 30,000
Life insurance proceeds 10,000
Excess charitable contributions 10,000
Long-term capital gains 10,000
Federal income taxes 61,000
I need help with calculating Alpha Corporation's tax.© BrainMass Inc. brainmass.com March 4, 2021, 7:52 pm ad1c9bdddf
The total tax would comprise the following items:
(1) Federal income tax = 61,000
(2) Long-term capital gain ...
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