Taylor Joseph has held stock in Foreign Corporation classified as a passive-foreign-investment corporation (PFIC) for the last

Question:

Taylor Joseph has held stock in Foreign classified as a passive-foreign-investment (PFIC) for the last three years. Starting with the current year, Foreign will no longer meet the definition of a PFIC. Determine whether Taylor must continue to treat his investment in Foreign as a PFIC. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...