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Required information [The following information applies to the questions displayed below.] USCo manufactures and markets electrical components. USCo operates outside the United States through a
Required information [The following information applies to the questions displayed below.] USCo manufactures and markets electrical components. USCo operates outside the United States through a number of CFCs, each of which is organized in a different country. These CFCs derived the following income for the current year: Determine the amount of income that USCo must report as a deemed dividend under subpart Fin each scenario. (Leave no answer blank. Enter zero if applicable.) a. F1 has gross income of $9.50 million, including $380,000 of foreign personal holding company interest and $9.12 million of gross income from the sale of inventory that F1 manufactured at a factory located within its home country. Amount of income reported million
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