The following persons own Schlecht Corporation, a foreign corporation.
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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