DETERMINE WHETHER A CORPORATION WITH THE FOLLOWING OWNERSHIP MEETS THE "OWNERSHIP TEST" FOR A PERSONAL HOLDING COMPANY? Individual A 200 Individual B, A's mother 100 Partnership P 100 50% owned by Individual C, 50% owned by Corporation X Corporation Y 100 50% owned by Individual A, 50% owned by unrelated Individual D Corporation X 500 10 unrelated individuals each own 10% of X stock TOTAL SHARES 1,000

Answer rating: 100% (QA)

To determine if the corporation meets the ownership test for a personal holding company we need to c... View the full answer