Question: Please show work and thanks for your HELP!!! : ) 39. Which one of the following special loss limitations applies to an S corporation? A)

Please show work and thanks for your HELP!!! : )

39. Which one of the following special loss limitations applies to an S corporation?

A) at-risk rules

B) passive activity limitation rules

C) hobby loss rules

D) All of the above apply.

40. An S corporation is permitted an automatic extension of time for filing its tax return. The automatic extension period is

A) one month.

B) two months.

C) three months.

D) six months.

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