Upton, Inc. is a corporation that has been in business since 2004. In 2014, Uptons sole owner, Justin, made a timely S corporation election. At the date of the election, Uptons sole asset was highly appreciated. When can Justin have Upton distribute the asset and avoid federal double taxation?

Anytime now that Upton is an S corporation

Anytime after January 1, 2019

Anytime after January 1, 2018

Never, double taxation never goes away