If “terminated” explain what caused the termination in the template.

Scenario	S Corporation's Status	Explanation
1. Amy owns 40 shares of Jane Corp., an S corporation. Amy is one of 100 unrelated shareholders. She sells 10 shares of her Jane stock to her sister's solely owned C corporation.
2. Mark owns 60 shares of Hello Corp., an S corporation. He is one of 100 unrelated shareholders. Mark sells 20 shares of his Hello stock to his sister's single-member LLC.
3. Billy owns 50 shares of Apple Corp., an S corporation. He is one of 100 unrelated shareholders. Billy sells 15 shares of his Apple stock to a partnership in which he is a 50 percent general partner.
4. Hank owns 60 shares of Sleepy Corp., an S corporation. He is one of 100 unrelated shareholders. Hank sells 15 shares of his Sleepy stock to his friend, a U.S. citizen who is currently living in Canada.

Answer rating: 100% (QA)

If terminated explain what caused the termination in the template Scenario S Corporations Status Explanation 1 Amy owns 40 shares of Jane Corp an S co... View the full answer