BJT Corporation is owned 40 percent by Bill, 30 percent by Jack, and 30 percent by the
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BJT Corporation is owned 40 percent by Bill, 30 percent by Jack, and 30 percent by the Trumpet Partnership. Bill and Jack are father and son. Jack has a 10 percent interest in Trumpet Partnership. What is Jack’s total direct and constructive ownership of BJT Corporation under Section 267?
a. 30 percent
b. 70 percent
c. 100 percent
d. 73 percent
e. 33 percent
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d 73 percent Jack s direct ownership is 30 and ...View the full answer
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Related Book For 
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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