Q: Describe the three hurdles a taxpayer must pass if he wants to
Describe the three hurdles a taxpayer must pass if he wants to deduct a loss from his share in an S corporation.
See AnswerQ: Is a shareholder allowed to increase her basis in her S corporation
Is a shareholder allowed to increase her basis in her S corporation stock by her share of the corporation’s liabilities, as partners are able to increase the basis of their ownership interest by their...
See AnswerQ: What restrictions might prevent a partner from selling his partnership interest to
What restrictions might prevent a partner from selling his partnership interest to a third party?
See AnswerQ: How does a shareholder create debt basis in an S corporation?
How does a shareholder create debt basis in an S corporation? How is debt basis similar and dissimilar to stock basis?
See AnswerQ: When considering C corporations, the IRS checks to see whether salaries
When considering C corporations, the IRS checks to see whether salaries paid are too large. In S corporations, however, it usually must verify that salaries are large enough. Account for this differen...
See AnswerQ: How does the tax treatment of employee fringe benefits reflect the hybrid
How does the tax treatment of employee fringe benefits reflect the hybrid nature of the S corporation?
See AnswerQ: Karen is the sole shareholder of a calendar year-end C
Karen is the sole shareholder of a calendar year-end C corporation she formed last year. If she elects S corporation status this year on February 20, when will the election become effective and why? W...
See AnswerQ: What does the accumulated adjustments account represent? How is it adjusted
What does the accumulated adjustments account represent? How is it adjusted year by year? Can it have a negative balance?
See AnswerQ: If an S corporation with accumulated E&P makes a distribution
If an S corporation with accumulated E&P makes a distribution, from what accounts (and in what order) is the distribution deemed to be paid from?
See AnswerQ: Under what circumstances could a corporation with earnings and profits make a
Under what circumstances could a corporation with earnings and profits make a tax-free distribution to its shareholders after the S election termination?
See Answer
