38. Which of the following tax consequences is not determined by reference to a shareholders adjusted basis in the shareholders stock in an S corporation?

a. the extent to which a distribution made by the corporation to the shareholder is taxable

b. the amount of losses that the shareholder may deduct in a given year

c. the shareholders realized gain or loss upon the sale or exchange of the stock

d. the amount of distributions to which the shareholder is entitled in a given year