Taxpayer receives a distribution of several accounts receivable from a partnership. The A/R have a basis of $0 and a FMV of $40,000. If the partner holds these accounts receivables for over a year and collects $38,000, what will the partner report as income and would the income be capital gain or ordinary income (one number ( no "\$") \& one word)( so one blank and two answers) To be an S-Corp, you must timely file your S election. Which of the following starts the timing on the filing of the election? (Multiple answers possible) a. date that the corporation charter was mailed to state b. shares are issued c. day the state approved the charter for the corporation d. date that the subscription for shares was completed e. business has been started f. assets were bought for the business g. date that the articles of incorporation were signed by incorporator h. date that the stock certificates came back from print shop