Amy is the sole shareholder of Garnet Corporation.During the year,Amy leases a building to Garnet for a monthly rental of $40,000.If the fair rental value of the building is $30,000,what are the income tax consequences to the parties involved?

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The Answer of Amy is the sole shareholder of Garnet Corporation.During the year,Amy leases a building to Garnet for a monthly rental of $40,000.If the fair rental value of the building is $30,000,what are the income tax consequences to the parties involved?

Amy Is the Sole Shareholder of Garnet Corporation