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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
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 F in each scenario. Note: Leave no answer blank. Enter zero if applicable. Required: Note: Round your final answer to 1 decimal place. a. F1 has gross income of $9.00 million, including $90,000 of foreign personal holding company interest and $8.91 million of gross income from the sale of inventory that F1 manufactured at a factory located within its home country. b. F2 has gross income of $6.6 million, including $5.94 million of foreign personal holding company interest and $0.66 million of gross income from the sale of inventory that F2 manufactured at a factory located within its home country. Complete this question by entering your answers in the tabs below. F1 has gross income of $9.00 million, including $90,000 of foreign personal holding company interest and $8.91 million of gross income from the sale of inventory that F1 manufactured at a factory located within its home country
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