If the shareholder of a Subchapter S corporation has a negative balance, how should this be shown
Question:
If the shareholder of a Subchapter S corporation has a negative balance, how should this be shown on the net worth schedule?
a. The negative basis should be shown
b. Only positive balances should be shown
c. Basis cannot go below zero.
d. Shareholder can't have a negative basis
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Related Book For
Financial Investigation And Forensic Accounting
ISBN: 9780367864347
3rd Edition
Authors: George A Manning
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