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Business, 11.12.2019 19:31 jacobdesalvo8155

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. (leave no answer blank. enter zero if applicable. enter your answers in millions.)

a. f1 has gross income of $14.00 million, including $700,000 of foreign personal holding company interest and $13.30 million of gross income from the sale of inventory that f1 manufactured at a factory located within its home country.
a. amount of income reported?
b. b. f2 has gross income of $8.6 million, including $6.9 million of foreign personal holding company interest and $1.7 million of gross income from the sale of inventory that f2 manufactured at a factory located within its home country.
b. amount of income reported.

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