Zoe and Al own all the shares of Zeta Corporation. For the current year, the corporation reports the following income and expenses:

View the income and expense amounts.

During the eighth month of the current year, Zeta Corporation paid $$90,000$ in dividends to its shareholders.

Read the requirements.

Requirement a$.$ Is Zeta a personal holding company $(PHC)?$

Yes. Zeta is a PHC because it passes both the stock ownership and passive income requirements.

Requirement b$.$ What is Zeta's regular tax liability?

Zeta's regular tax liability $=$

Rental income

Dividend income from less than $20\%-$owned corporations

a$.$ Is Zeta a personal holding company?

b$.$ What is Zeta's regular tax liability?

c$.$ What is Zeta's personal holding company tax liability $($if any$)?$