Foster Corporation Has Gross Income for Regular Tax Purposes of $100,000

question 7

Multiple Choice

Foster Corporation has gross income for regular tax purposes of $100,000, which includes a net Sec. 1231 gain of $10,000 and a net capital gain of $10,000. Ordinary gross income for personal holding company purposes is

• A)$70,000.
• B)$80,000.
• C)$90,000.
• D)$100,000.