#33 As of January 1, 2020, a corporation has 70 shareholders, one of which is a partnership. On March 1, 2020, the partnerships shares are sold to an individual, leaving the corporation with 70 eligible shareholders. On March 10, 2020, the corporation files a valid S election. The S election becomes effective on:

• March 1, 2020.
• March 10, 2020.
• March 11, 2020.
• January 1, 2021.

#35 On February 5, 2020, a calendar year corporation files an S election. All shareholders who own stock in the corporation in 2020 sign the election. What date will the S election take effect?

• January 1, 2020
• February 5, 2020
• February 6, 2020
• None of the above

#36 The normal filing date for a calendar-year S corporation is ____________. (Format answer as MM/DD)

#38 "Family members" include a common ancestor and all lineal descendants within ________ generations of that common ancestor at the time the corporation files its S election or at the time the first family member acquires stock.