Investors Corporation has ten unrelated individual shareholders who each own 10% of the outstanding stock. Fo tax year ended December 31 of this year, Investors' gross income includes: No dividends are paid during the tax year or during the 2- 1/2 month throwback period. Deductible administrative expenses total $4,000 for the year. Rental income has been reduced by $1,000 of depreciation and
$2,000 of interest expense. What is Investors' undistributed personal holding company income?

Question

Investors Corporation has ten unrelated individual shareholders who each own 10% of the outstanding stock. Fo tax year ended December 31 of this year, Investors' gross income includes:  No dividends are paid during the tax year or during the 2- 1/2 month throwback period. Deductible administrative expenses total $4,000 for the year. Rental income has been reduced by $1,000 of depreciation and
$2,000 of interest expense. What is Investors' undistributed personal holding company income?

Quizplus · Accepted Answer

The Answer of Investors Corporation has ten unrelated individual shareholders who each own 10% of the outstanding stock. Fo tax year ended December 31 of this year, Investors' gross income includes:  No dividends are paid during the tax year or during the 2- 1/2 month throwback period. Deductible administrative expenses total $4,000 for the year. Rental income has been reduced by $1,000 of depreciation and
$2,000 of interest expense. What is Investors' undistributed personal holding company income?

Investors Corporation Has Ten Unrelated Individual Shareholders Who Each Own