The following persons own Good Corporation,a foreign corporation.
None of the shareholders are related.Subpart F income for the tax year is $200,000.No distributions are made.Which of the following statements is correct?
A) Good Corporation is not a CFC.
B) Chee includes $60,000 in gross income.
C) Marina includes $16,000 in gross income.
D) Marina is not a U.S.shareholder.
E) None of the above statements is correct.
Correct Answer:
Verified
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