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1.Which of the following is not related under the constructive ownership rules of 318? a. A 40 percent owned corporation. b. A brother c. A
1.Which of the following is not related under the constructive ownership rules of 318?
a. A 40 percent owned corporation. | ||
b. A brother | ||
c. A partnership in which the taxpayer owns 20 percent. | ||
d. a and b. | ||
e. a, b, and c |
2.
Tina and Sam are married. Veronica is Sams mother. Tina owns 50 shares of stock in the DELIA Corporation. Sam is deemed to own ________________ shares of DELIA Corporation and Veronica is deemed to own ____________________ shares of DELIA Corporation.
a. 50, 50 | ||
b. zero, zero | ||
c. zero, 50 | ||
d. 50, zero |
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