On January 1, 2020, Copper Corporation (a calendar year S corporation for many years) became a C corporation.A possible reason for this change in status is that:
A) The corporation had too much passive investment income for 2020.
B) A partnership became a shareholder on March 4, 2020.
C) A majority of the shareholders met on March 14, 2020, and revoked the S election.
D) All of the shareholders met on April 11, 2020, and revoked the election.
E) None of these.
Correct Answer:
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