The following persons own Schlecht Corporation,a foreign corporation. Jim,U.S.individual 35% Gina,U.S.individual 15% Marina,U.S.individual 8% Pedro,U.S.individual 12% Chee,non-U.S.individual 30% None of the shareholders are related.Subpart F income for the tax year is $300,000.No distributions are made.Which of the following statements is correct?
A) Schlecht is not a CFC.
B) Chee includes $90,000 in gross income.
C) Marina is not a U.S.shareholder for purposes of determining whether Schlecht is a CFC.
D) Marina includes $24,000 in gross income.
Correct Answer:
Verified
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