Superb Professors

Which of the following statements is correct?

a.
•   If a parent corporation loses its S corporation status, the Q Sub election will terminate as of the last day of the previous tax year.

b.
If a parent corporation loses its S corporation status, thereby terminating the Q Sub election, the former Q Sub will be able to retain its S corporation status.

c.
For taxable years beginning i n 2007. if the qualified subchapter S subsid­ iary ceases to be a qualified subchapter S subsidiary, the sale is treated as a sale of an undivided interest i n the assets of the qual ified subchapter S subsidiary based on the percentage of the stock sold.

d.
All of the above

 
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The post Which of the following statements is correct? a. •   If a parent corporation loses its S corporation status, the Q Sub election will terminate as of the last day of the previous tax year. appeared first on Superb Professors.

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