If an S Corporation Never Operated as a C Corporation

question 12

True/False

If an S corporation never operated as a C corporation, it may earn passive investment income without fear of an involuntary S election termination.

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Definitions:

National Borders

Geographically defined boundaries that separate the territory of one state from that of another, often established through treaties and recognized in international law.

Turkey

A country located at the crossroads of Europe and Asia, known for its rich history, cultural heritage, and strategic geopolitical position.

Trade Center

A hub or area where commercial transactions and exchanges take place, often involving a concentration of businesses and trade-related infrastructure.

Tay-Sachs Allele

A genetic variant associated with Tay-Sachs disease, a fatal disorder that affects the nervous system and is marked by the accumulation of certain lipids in the brain.