Parkview West Inc. has gross income of $50,000, consisting of $37,000 of rent receipts

| March 31, 2017

Question
27. Parkview West Inc. has gross income of $50,000, consisting of $37,000 of rent receipts and $13,000 of U.S. dividends. Rental deductions of $20,000 are claimed (interest, taxes, and cost recovery). $9,000 of dividends are paid to Susie and Sally, the only shareholders.

a. Is the 50 percent rental test met?

b. Is the 10 percent dividend test met?

c. Is Parkview a personal holding company?

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