An S Corporation Election Is Disqualified If Its Passive Investment

question 25

True/False

An S corporation election is disqualified if its passive investment income exceeds 25 percent of its gross receipts during any taxable year.

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Definitions:

Secretly Recorded Videos

Videos recorded without the knowledge or consent of the subjects being filmed, often leading to legal and ethical issues.

Defamation

A false statement presented as a fact that causes injury or damage to the reputation of the person or entity it's about.

Internal Revenue Service

The U.S. government agency responsible for the collection of taxes and enforcement of tax laws.

False

Not true or correct; misrepresenting reality or facts.