Young,Inc. ,a U.S.corporation,earns foreign-source income classified in two different income baskets in the current year.It earns $100,000 in passive foreign-source income and suffers a net loss of $70,000 in the general basket.What is the numerator of the FTC limitation formula for the passive basket in the current year?
A) $0.
B) $30,000.
C) $70,000.
D) $100,000.
Correct Answer:
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