1. Which of the following is not a general rule for allocating nonbusiness income?

		Interest and dividends to the state of commercial domicile
		Rental income for investment property to state of commercial domicile
		Rental income for business property to state where property is located
		Capital gains from rental property to state where property is located

2.

1. For S corporations with earnings and profits from prior C corporation years, the taxation of distributions to the shareholder out of prior earnings and profits is governed by rules very similar to the rules for partnerships.

   True

   False