Crown Corporation is an actual method a payer cwned 55% by Bratt and 45% by Susie. Brett and Susie are good friends and have been business associates for several years. Bu Partnership is a cash method taxpayer owned 40% by Brent and 60% by Jeremy Bre's uncle. Both Crown Corporation and BJ Partnership are calendar year entties. On January 5 of the current year, Crown borrows $50,000 from BI Partnership and pays interest on the loan Crown must pay the interest on January first of next year Requirements a. What amount of interest expense can Crown Corporation deductin the current year? How would your answer change if Jeremy were rett's brother, stead of his unde? Brell constructively owns Crown Thus in the current year Requirement b How would your answer change it Jeremy wire Brett's brother instead of his unci? Jeremy were Brelfs brother, Brett would constructively own Thus Crown v in the current year Click to select your answer(s) Requirements a What amount of interest expense can Crown Corporation decal in the current year b How would your answer change if Jeremny were Bretris brother, instead of his uncle? Requirement a. What amount of interest expense can Crown Corporation deduct in the current year? [ [ Thus Brett constructively owns ent year Crown were Brett's brother instead of his uncle? Requirement b. How wou 40% of BI Partnership 100% of BJ Partnership Thus i Jeremy were Brettsbro Crown in the current year Requirements a What amount of interest expense can Crown Corporation deduct in the current year b. How would your answer change if Jeremy wern Brett's brother instead of his uncia? Requirement a. What amount of interest expense can Crown Corporation deduct in the current year? Brett constructively owns Thus Crown in the curr Brett would effectively own over 50% of both Crown and BJ Partnership Requirement b. How would your answer change if Jeremy Crown and Bu Partnership are not related parties i Jeremy wore Brott's brother Brett would constructively Crown in the current year Requirements a What amount of interest expense can Crown Corporation deduct in the current year? b. How would your answer change i Jeremy were Brett's brother, instead of his uncin? Requirement a: What amount of interest expense can Crown Corporation deduct in the current year? Brett constructively owns Thus Crown in the current year Requin my were Bretr's brother stead of his unde? can deduct 55% of the interest accrued Thus own if Jerer can deduct the entire interest accrued Crown urrent year cannot deduct any interest accrued Click to select your answer(s) Requirements a What amount of interest expense can Crown Corporation deduct in the current year? b How would your answer change it Jeremy were Bretr's brother instead of his uncle? Requirement a. What amount of interest expense can Crown Corporation deduct in the current year? V Thus Brett constructively owns Crown in the current year Requirement b. How would your answer change if Jeremy were Brott's brother, instead of his uncle? Thus It Jeremy ware Brett's brother Brett would constructively own Crown in the current 40% of BJ Partnership 100% of BJ Partnership Click to select your answers pense can Crown Corporation deduct in the current year? sange it Jeremy were Bret's brother instead of Ns unde? interest expense can Crown Corporation deduct in the current year Thus in the current year answer change Jeremy were Bretr's brother instead of his unde? Thus matt would constructively own in the current year Brett would tactively can over 50 of both Crown and BI Partners Crown and Partnership are not related parties TIRAM Requirements What amount of interest expense can Crown Corporation deduct in the current year? b. How would your answer change it Jerary were Brett's brother instead of his unde? Requirement a What amount of interest expense can Crown Corporation deduct in the current year? Thuis Brett constructively owns Crown in the current year Requirement b. How would your answer change / Jeremy were Brell's brother instead of hs unde? Thus of Jeremy were Brett's brother Bratt would constructively own Crown in the current year can deduct 55% of the interest accrued can deduct the entre interest accrued Click to carinat deduct any interest accrued