Which of the following is a drawback of converting an unincorporated sole proprietorship to an S corporation?

$1.$ S corporation owners cannot benefit from the qualified business income deduction.

$2.$ S corporations are more expensive than sole proprietorships to set up and administer.

$3.$ S corporation owners must pay self$-$employment taxes on their share of net profits from the business.

$4.$ S corporation owners are subject to double taxation because income is taxed when it is earned by the corporation and again when it is distributed to the owner.