An S Election Is Terminated If the S Corporation Has

question 121

True/False

An S election is terminated if the S corporation has passive investment income in excess of 20 percent of gross receipts for three consecutive years.

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Definitions:

Motrin

A brand of ibuprofen, a non-steroidal anti-inflammatory drug (NSAID) used to relieve pain, reduce inflammation, and lower fever.

Pick's Disease

A rare form of dementia characterized by progressive and irreversible neurological decline, similar to Alzheimer's disease but with distinct pathological features.

Frontal and Temporal Lobes

Regions of the brain responsible for cognitive functions such as thinking, planning, problem-solving (frontal) and auditory processing, memory, and emotion (temporal).

Alzheimer's Disease

A chronic neurodegenerative condition that gradually worsens memory and cognitive functions.