If Annie and Andy (Each a 30% Shareholder in an Calendar

question 66

Multiple Choice

If Annie and Andy (each a 30% shareholder in an calendar year S corporation) file a revocation statement on February 10,2017 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, 2017.
• B) February 10, 2017.
• C) January 1, 2018.
• D) February 10, 2018.
• E) None of the choices are correct.

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