which is true: s corp held $100\%$ by one inviducual shareholder do not report income and deductions separately all corp income is reported directly on the shareholders individual return; to be eligible for s corporation treatment a corporation or other entity must be formed in accourdeance with state law; an s corp is subject to estimated tax penalties only if their total tax due at theend of the year exceeds $$1000$; taxes are paid on profist by shareholders iin the year they are distributed to the shareholders