For many years, Sophie has owned and operated several apartment buildings. In 2011, upon the advice of her attorney, Sophie transferred the apartment buildings to a newly created corporation. Her main reason for incorporating the business was to achieve the legal protection of limited liability.
Every year since 2011, Sophie has prepared and filed a Form 1120 for the corporation. No corporate income tax has been paid because, after the deduction of various expenses (including Sophie's "management fee"), the corporation reports zero taxable income?