In a Sec. 338 Election, the Target Corporation

question 60

Multiple Choice

In a Sec. 338 election, the target corporation

• A)will have a holding period for assets beginning on the day after the acquisition date.
• B)must use the preacquisition tax year.
• C)will no longer file a separate return.
• D)is considered to be a continuation of the old target corporation for purposes of the tax attribute carryover rules.