Identify Which of the Following Statements Is True

Multiple Choice

Identify which of the following statements is true.

A) An S corporation may be subject to the corporate alternative minimum tax.
B) Allocation of tax preference items for AMT generally occurs on a daily basis.
C) An S corporation may be subject to the corporate alternative minimum tax when the corporation has accumulated E&P from prior C corporation tax years.
D) All of the above are false.