MWC is a C corporation that uses the accrual method of accounting.MWC made an S election,effective January,1 of 2017.The following assets were owned by MWC on December 31,2016.
What is MWC's net unrealized built-in gain when it converts to an S corporation on January 1,2017?

Question

MWC is a C corporation that uses the accrual method of accounting.MWC made an S election,effective January,1 of 2017.The following assets were owned by MWC on December 31,2016.
  What is MWC's net unrealized built-in gain when it converts to an S corporation on January 1,2017?

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 2017.The following assets were owned by MWC on December 31,2016.
  What is MWC's net unrealized built-in gain when it converts to an S corporation on January 1,2017?

MWC Is a C Corporation That Uses the Accrual Method