Nancy owns 10% interest in ABC Partnership and 20% of the outstanding shares of XYZ Corporation. Her
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Nancy owns 10% interest in ABC Partnership and 20% of the outstanding shares of XYZ Corporation. Her son Nick owns 60% of the outstanding shares of XYZ Corporation. XYZ Corporation owns 50% interest in ABC Partnership. Denise, Nancy’s mother, owns 40% interest in ABC Partnership. Under the constructive ownership rules for partnerships, Nancy is considered to own how much of ABC Partnership?
50%
10%
90%
20%
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
Posted Date: