1.in each of the following independent situation, determine the dividends received deduction for the calendar year corporation assume that: oak corporations Owns 25% Elm corporation owns 15% Mah corp

1.in each of the following independent situation, determine the dividends received deduction for the calendar year corporation assume that:

oak corporations Owns 25% 

Elm corporation owns 15%

Mah corporation owns 60% of the stock in the corporation paying the dividends

                                                                Oak corp.         elm corp.    mah corp

Income from operation.                      $650,000         $900,000        $825,000

Expenses from operation                    (525,000).        (1,050,000).    (830,000)

Qualifying dividends                               160,000.            160,000.         160,000

What is the dividends received deduction for oak corp?

What is the dividends received deduction for elm corp? 

What is the dividends received deduction for mah corp?

2. through a type B reorganization, Goldan corporation acquired 90% of retiverco stock by October 2 of the current tax year ending December 31. At the same tome 90% was acquired, retiverco was worth $800,000, and the federal long term tax-exempt rate was 3%. Retiverco holds capital loss carryover of $50,000

If Golden report taxable income of $300,000,wich includes $30,000 capital gain, how much of the retievroco capital loss carryover may Golden use in the current year to offset its income?

Assume consolidated return is not filed.

Golden may use                of retrievroco capital loss carryover in the current year to offset income ( fill the blank)

3. quail coporation was creatd six years ago through contributions from Kash ($900,000) and frank ($100,000). In a transaction qualifying as reorganization, quail exchange all of its assets currently valued at $1,800,000 ( basis of $1,200,000) for covey corporation    stock valued at $1,700,000 plus $100,000 in covey bonds. Quail distribution the covey stock and bonds proportionately to frank and kash in exchange for their stock in quail . quail current and accuymulated E&P before the organization anount to $70,000  complate the blanks

Kash:

Realized gain/loss

Recognized gain/loss

Postpond gain/loss

Basis  in stock

$1,620,000

bond

Total : 

Frank 

Realized gain/loss

Recognized gain/loss

Postpond gain/loss

Basis  in stock

$180,000

bond

Total : 

b. how do kash  and frank treat this transactions for income tax preposes:

kash: 

what is the ordinary income? 

what is the dividend income?

what is the capital gain income?  

Frank

what is the ordinary income? 

what is the dividend income?

what is the capital gain income?  

c. complete the statement regarding how quail and covey should treat this transaction, including coveys basis in the assets it receives from quail    :

quail recognizes $                   gain or loss on the transaction. Covey basis in the quail  is               Basis of $             . 

3. zeta corporation in interested in acquiring Tau corporation through type A reorganization on jan 2 of the current year. zeta stock is value at $50,000,000b and generate $5,000,000 of taxable income yearly. Tau is valued at $7,000,000 and hold a$1,470,000 NOL with none years remaining of the carryover period. Zeta earn 7% after-tax of return and the federal long term tax exempt rate is 3%   .

Use the marginal and federal income tax rate of 25%. 

Compute the section 382 limitation ?

Compute the yearly tax benefit of the NOL?

The max amount of zeta corporation should value Tau corporations NOL is $?