Dr. Jones is a medical doctor who has run a successful practice as a sole practitioner. He is contemplating the formation of a C corporation for his practice. Which of the following statements are correct regarding the formation of the Doctor's C corporation for 2019?

1

The corporate form of ownership is not allowed for a sole owner

2

The income from the corporation will flow through to Dr. Jones

3

The corporation will not be eligible for the 20% Qualified Business Income Deduction

4

The corporate income will be subject to a flat tax of 21%

5

The corporation income will be subject to the same graduated tax rates as trusts and estates

a)

1 and 2 only

b)

3 and 4 only

c)

1 and 3 only

d)

3 and 5 only

e)

1 and 5 only