On march 2 the two 50 shareholders of a calendar year, Ask an Expert

Accounting

On march 2, the two 50% shareholders of a calendar year corporation decide to elect S status. One of the shareholders, Terry, purchased her stock from a previous shareholder (a nonresident alien) on January 18. Identify any potential problems for Terry or the corporation.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9411999

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