A owned 70% of X Co. (an S corporation) for 110 days during 20x4.

A owned 90% of X Co. for the remaining 255 days in 20x4.

X Co. is a calendar year taxpayer, and in 20x4 it had $182,500 of capital gains.

A's share of X Co.'s capital gains for 20x4 is

A owned 70% of X Co. (an S corporation) for 110 days during 20x4.

A owned 90% of X Co. for the remaining 255 days in 20x4.

X Co. is a calendar year taxpayer, and in 20x4 it had $182,500 of capital gains.

A's share of X Co.'s capital gains for 20x4 is

$127,750.

$114,750.

$153,250.

None of these

If X Co., a calendar year taxpayer, qualifies as an S corp., and an S election is made and properly consented to by all shareholders on March 16, 20x3, then X Co.'s S corp. tax year begins

If X Co., a calendar year taxpayer, qualifies as an S corp., and an S election is made and properly consented to by all shareholders on March 16, 20x3, then X Co.'s S corp. tax year begins

January 1, 20x3.

March 16, 20x3.

January 1, 20x4.

None of these.