What type of business would they be after the revocation

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Question - DataDyn is an S corporation at the beginning of the year, and they ask you for advice on possibly revoking their S election. They ask the following specific questions: (1) how is an S election terminated, (2) what type of business would they be after the revocation, and (3) how would DataDyn's income for the year treated in the year of termination?

Reference no: EM132952902

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