Identify Which of the Following Statements Is True

question 49

Multiple Choice

Identify which of the following statements is true.

• A)Long-term capital gains may be subject to double taxation if the gains are subject to both the excess net passive income tax rules and the built-in gains tax rules.
• B)Special allocations of ordinary income or loss and separately stated items that are available for partnerships are also permitted with S corporations.
• C)When an S corporation's shares are sold by a shareholder during a tax year, the transferee's share of the earnings is reported from the day after the transfer date through the end of the tax year.
• D)All of the above are false.

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Definitions:

CNBC

A leading cable television network in the U.S. focusing on business news and financial markets coverage.

Bloomberg

A global financial services, software, and media company known for its Bloomberg Terminal and financial data services.

External Secondary Data

External secondary data refers to data that was collected by someone else outside of the organization and is available for businesses to use for research purposes.

External Secondary Data

Information collected by someone other than the user, available from outside sources such as governments, institutions, and organizations.