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Alleghany Corporation reports the following results: Service income $80,000, Dividend income $60,000, Interest income $120,000, Passive-income related expenses$40,000, Other expenses $100,000. At the end of
- Alleghany Corporation reports the following results:
Service income $80,000, Dividend income $60,000, Interest income $120,000, Passive-income related expenses$40,000, Other expenses $100,000.
At the end of the year, Alleghanys C Corp E&P was $100,000.
What is Alleghanys excess net passive income and excess net passive income tax?
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