T$,$ A US CITIZEN OWNS $100\%$ OF AN FC WHICH IS A CFC$.$ ASSUME FC HAS SUBPART F INCOME WHICH MUST BE REPORTED ON T$$S US INDIVIDUAL TAX RETURN, FORM $1040.$ IF THE FC IS IN A COUNTRY WITH A TAX TREATY WITH THE US WHICH TREATY HAS AN EXTENSIVE EXCHANGE OF INFORMATION PROVISION,$$THE SUBPART F INCOME IS ELIGIBLE FOR THE MORE FAVORABLY TAXED QUALIFED DIVIDEND INCOME RATES $($MEANING THE CAPITAL GAINS RATES$)?$

STUDY TIP: CONSIDER RODRIQUEZ VERSUS COMMISSIONER, $2013-2$ USTC $50420.$

Group of answer choices

True

False