Phoenix, Inc

question 2

Multiple Choice

Phoenix, Inc., a U.S.shareholder owns 100% of a CFC from which Phoenix receives a $650,000 distribution.The CFC's E & P is composed of the following amounts.
-$400,000 attributable to previously taxed increases in investment in U.S.property.
-$200,000 attributable to previously taxed Subpart F income.
-$100,000 attributable to other E & P.
Phoenix recognizes a taxable dividend of:

• A)$650,000.
• B)$600,000.
• C)$200,000.
• D)$50,000.
• E)None of the above.

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Definitions:

I Proposition

In traditional logic, an "I proposition" is a type of categorical proposition that affirms some, but not all, members of the subject class are members of the predicate class, often structured as "Some S are P."

Explicit Quantifiers

Symbols or phrases in logic that explicitly specify the quantity of subjects to which a statement applies.

Universal

A term referring to concepts, properties, or statements that apply universally, without exceptions.

Particular

In philosophy, an individual object as opposed to a universal quality; distinguished from general or universal by being specific or detailed.