If Annie and Andy (Each a 30 Percent Shareholder in a Calendar-Year

question 83

Multiple Choice

If Annie and Andy (each a 30 percent shareholder in a calendar-year S corporation) file a revocation statement on February 10, 2019, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?

• A)January 1, 2019.
• B)February 10, 2019.
• C)January 1, 2020.
• D)February 10, 2020.
• E)None of the choices are correct.

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