On March 1, Mr. and Mrs. Trent formed Trent properties inc. trough which to operate a real estate management business. b
Posted: Sun Jul 03, 2022 4:11 pm
On March 1, Mr. and Mrs. Trent formed Trent properties inc.trough which to operate a real estate management business. both Mr.and Mrs. Trent work full time for modest, but reasonable, salaries.in early December, the Trent’s estimated that the corporation wouldincur a 325000 net loss for its first 10 months of operation. theydecided to adopt a calendar year for Trent properties inc. and makeS election so that they could deduct the loss on their individualtax return. can the Trent’s make an S election for Trent Propertiesinc.'s first taxable year?