Parkview West Inc. has gross income of $50,000, consisting of $37,000 of rent receipts and $13,000 of U.S. dividends. Rental deductions of $20,000 are claimed (interest, taxes, and cost recovery). $9,000 of dividends are paid to Susie and Sally, the only shareholders.

Is the 50 percent rental test met?

Is the 10 percent dividend test met?

Is Parkview a personal holding company?

Answer rating: 100% (QA)

To determine if Parkview West Inc meets the requirements for the 50 percent rental test 10 percent d... View the full answer