The Recognition Period for the Built-In Gains Tax Extends for How

question 57

Multiple Choice

The recognition period for the built-in gains tax extends for how many years after the S election takes effect?

• A)one year
• B)three years
• C)five years
• D)ten years

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Definitions:

Change

The process or act of becoming different in some particular way, without permanently losing one's identity or essence.

Permanent

A state or quality of being lasting, enduring, or intended to exist or function for an indefinite period without significant change.

Contraceptives

Methods or devices used to prevent pregnancy.

Sexually Active

Individuals who engage in sexual activities, implying various forms of sexual intercourse.