If Carlos and Chris (each a 28 percent shareholder in a calendar-year S corporation) file a revocation statement on February 20, 2019, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one)? Explain the rule.
If Carlos and Chris (each a 28 percent shareholder in a calendar-year S corporation) file a revocation statement on February 20, 2019, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one)? Explain the rule.
Chapter22: S Corporations
Section: Chapter Questions
Problem 7DQ
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40.
If Carlos and Chris (each a 28 percent shareholder in a calendar-year S corporation) file a revocation statement on February 20, 2019, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one)? Explain the rule.
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ISBN:
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Author:
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Publisher:
CENGAGE LEARNING - CONSIGNMENT