Aubrey Corporation changes from a regular C corporation in 2018 to an S corporation as of the

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Aubrey Corporation changes from a regular C corporation in 2018 to an S corporation as of the beginning of 2019. For 2019, the corporation has $40,000 of built-in gain and $45,000 in accounting income. Determine any corporate tax that may be imposed on Aubrey Corporation, and the amount to be reported by the sole shareholder.

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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