MWC is a C corporation that uses the accrual method of accounting. MWC made an S election, effective January, 1 of 2018. The following assets were owned by MWC on December 31, 2017.

What is MWC's net unrealized built-in gain when it converts to an S corporation on January 1, 2018?

Question

MWC is a C corporation that uses the accrual method of accounting. MWC made an S election, effective January, 1 of 2018. The following assets were owned by MWC on December 31, 2017.
  
What is MWC's net unrealized built-in gain when it converts to an S corporation on January 1, 2018?

Quizplus · Accepted Answer

The Answer of MWC is a C corporation that uses the accrual method of accounting. MWC made an S election, effective January, 1 of 2018. The following assets were owned by MWC on December 31, 2017.
  
What is MWC's net unrealized built-in gain when it converts to an S corporation on January 1, 2018?

MWC Is a C Corporation That Uses the Accrual Method