Identify which of the following statements is true.

A. Long-term capital gains may be subject to double taxation if the gains are subject to both the excess net passive income tax rules and the built-in gains tax rules.

B. Special allocations of ordinary income or loss and separately stated items that are available for partnerships are also permitted with S corporations.

C. When an S corporation's shares are sold by a shareholder during a tax year, the transferee's share of the earnings is reported from the day after the transfer date through the end of the tax year.

D. All of the above are false.