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Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill
Edition 10ISBN: 978-1285439396Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill
Edition 10ISBN: 978-1285439396 Exercise 8
Taylor Joseph has held stock in Foreign Corporation classified as a passive-foreign-investment corporation (PFIC) for the last three years. Starting with the current year, Foreign will no longer meet the definition of a PFIC. Determine whether Taylor must continue to treat his investment in Foreign as a PFIC.
Explanation
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As per sec 1298 and reg. 1.1298-3(a) if ...
Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill
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