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Is b-flat a personal holding company

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Reference no: EM132359953

Question :

B-Flat Music Supplies Ltd. earned dividends of $30,000, interest of $12,000, adjusted rent of $50,000, and gross income from its primary business of $63,000 in one taxable year.

a. Is B-Flat a personal holding company?

b. If the dividend income was $35,000, is B-Flat a personal holding company?

Reference no: EM132359953

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