Only 80% of the shareholders must consent to an S election.
Correct Answer:
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Q1: Shareholders may deduct losses in excess of
Q4: Net operating losses incurred before an S
Q5: For Federal income tax purposes, taxation of
Q6: Rents always are considered to be passive
Q7: An S election made before becoming a
Q8: Where the S corporation rules are silent,
Q9: Distribution of appreciated property is taxable to
Q10: Charitable contributions are subject to a 10%
Q25: For a new corporation,a premature S election
Q43: An S corporation can be a shareholder
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