Kinney, Inc., an electing S corporation, holds $5,000 of AEP and $9,000 in AAA, Identify a disadvantage

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Kinney, Inc., an electing S corporation, holds $5,000 of AEP and $9,000 in AAA, Identify a disadvantage of being an S corporation.

a. Estates can be shareholders.

b. Losses flow through immediately to the shareholders.

c. Section 1202 treatment (Qualified Small Business Stock) is not available.

d. Tax-exempt income flows through as excludible to shareholders.

e. None of the above is a disadvantage of the S election.

Related Book For answer-question

South western Federal Taxation 2017 Corporations, Partnerships, Estates and Trusts

ISBN: 9781305874336

40th edition

Authors: William H. Hoffman, William A. Raabe , David M. Maloney, James C. Young

See More Books

Posted Date: Jan 10, 2021 08:53 PM

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Kinney, Inc., an electing S corporation, holds $5,000 of AEP and $9,000 in AAA, Identify a disadvantage

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Section 1202 treatment Qualified Small Business Stock is ... View the full answer

South western Federal Taxation 2017 Corporations, Partnerships, Estates and Trusts

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