Helmut and Sergei Own All the Stock of Zappo Corporation

Multiple Choice

Helmut and Sergei own all the stock of Zappo Corporation, a calendar-year domestic corporation. On January 30 of the current year, Sergei sells his entire interest in the Zappo stock to Nils. All three individuals are U.S. citizens. Can an S election be made for the current year?

A) not for the current year but for the next year
B) Yes, if Helmut and Nils agree to report all of the corporation's income for the entire year
C) Yes, if Sergei will also join in the election with Helmut and Nils
D) Yes, if Helmut and Nils agree to file a short-period return and Sergei also agrees to the return