QUESTION 23 Partners, LLC members and S Corporation shareholders are not taxed on the amount they withdraw from the entity in a nonliquidating distribution when they have sufficient basis (disregarding any other limitation) a True b. False QUESTION 24 Which statement is incorrect with respect to an S shareholder's consent? Both husband and wife must consent if one owns the stock as community property An Selection requires a consent from all of the Scorporation's shareholders. d. A consent must be in writing d. All of these answers are correct. QUESTION 25 Samantha owns 1,000 shares in Evita, Inc., an S corporation, that uses the calendar year. Her stock basis at the beginning of the tax year was $60,000. Evita's ordinary income for the year was $22,000 through the date of sale, and Samantha receives a distribution of $35,000 on May 3rd. Her stock basis at the end of the year is: a $117,000 b. $82,000 C. $60,000 $47,000