John and his following relatives own a total of 80% of S Corporation: Wife, Son, Grandmother, Great Uncle, Grandson, Aunt and Cousin. The other 20% of the S Corporation is owned by 5 unrelated individuals. How many S Corporation shareholders are there for purposes of determining the maximum 100 shareholder rule?

John and his following relatives own a total of 80% of S Corporation: Wife, Son, Grandmother, Great Uncle, Grandson, Aunt and Cousin. The other 20% of the S Corporation is owned by 5 unrelated individuals. How many S Corporation shareholders are there for purposes of determining the maximum 100 shareholder rule?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 27P

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