W5 t2

Instructions: Due SUnday

At least 3 paragraphs long with 3 peer-reviewed references.

On March 5, 2019, the two 50% shareholders of a calendar year corporation decide to elect S status. One of the shareholders, Terry, purchased her stock from a previous shareholder (a nonresident alien) on January 18, 2019. Identify any potential problems for Terry and the corporation.