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Dividends Received Deduction Is Computed After Charitable Deduction Essay Preview: Dividends Received Deduction Is Computed After Charitable Deduction Report this essay Dividends received deduction is computed after charitable deduction.Dividends not applied to personally (1:personal holding companies;2:personal service corporations;3:personally taxed(S corporations))General business credit: net income tax- greater of (25% of regular tax exceeds $25,000 or tentative.