U.S. Parent wholly owns a CFC with depreciable assets having a quarterly average adjusted basis of...
U.S. Parent wholly owns a CFC with depreciable assets having a quarterly average adjusted basis of $20 million and $5 million of tested income. What is the GILTI?
Question 18 options:
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Homework Answers
Answer:-
1) $3 million
GILTI = TESTED INCOME - 10% OF DEPRECIABLE ASSETS
= 5MILLION - 10%*20MILLION
=$ 3 MILLION
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