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QUESTION 19 A calendar year corporation electing to be an S Corporation must do so by filing the proper form with the IRS on or

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QUESTION 19 A calendar year corporation electing to be an S Corporation must do so by filing the proper form with the IRS on or before the 15th day of the 4th month of the corporation's tax year. True False QUESTION 20 An S Corporation shareholder is prohibited from including any loans made by the shareholder its stock basis. True False

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