Question
Which of the following will NOT affect a shareholder's basis in his or her S corporation stock? A. Any Sec.179 depreciation deduction that is separately
Which of the following will NOT affect a shareholder's basis in his or her S corporation stock?
A. Any Sec.179 depreciation deduction that is separately stated to the shareholder.
B. Any tax exempt income earned by the corporation that is separately stated to the shareholder.
C. Any Sec.1245 capital loss that is recognized by the corporation and separately stated to the shareholder.
D. None of the answers are correct.
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Financial Accounting An Introduction
Authors: Pauline Weetman
4th Edition
0273703404, 978-0273703402
