Identify which of the following statements is true.
A) All of the shareholders of an S corporation must consent to a revocation of the S election.
B) A revocation of an S corporation election can be retrospective to any date.
C) An S election will not be terminated due to excess passive income if the corporation does not have Subchapter C E&P.
D) All of the above are true.
C) An S election will not be terminated due to excess passive income if the corporation does not have Subchapter C E&P.
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