A, a U.S. income tax nonresident alien, sells U.S. real estate to B, an unrelated buyer, for
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Question:
A, a U.S. income tax nonresident alien, sells U.S. real estate to B, an unrelated buyer, for $1,200,000. B gives A $1,000,000 in cash plus a 4‑year interest bearing note in the amount of $200,000. A's basis in the U.S. real estate is $600,000. Based solely on these facts, B must withhold a IRC §1445 tax equal to:
Group of answer choices
$-0-
$90,000
$150,000
$180,000
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: