Federal taxation of S corporations and shareholders
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Federal taxation of S corporations and shareholders

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Published by Practising Law Institute in New York City .
Written in English

Subjects:

  • Subchapter S corporations -- Taxation.

Book details:

Edition Notes

Includes index.

StatementLorence L. Bravenec.
Classifications
LC ClassificationsKF6491 .B7 1988
The Physical Object
Pagination1 v. (loose-leaf) ;
ID Numbers
Open LibraryOL2065839M
LC Control Number88062893

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The impact of the election is that the S corporation's items of income, loss, deductions and credits flow to the shareholder and are taxed on the shareholder's personal return. The two main reasons for electing S corporation status are: Avoid double taxation on distributions. Allow corporate losses to pass through to its owners.   A shareholder might contribute a computer, a desk, reference books, and software programs to her newly formed S corporation in addition to making a cash investment. The value of the shareholder's property is the fair market value of the property or the shareholder's adjusted basis in the property, whichever is less.   S Corporations and Taxes. An S corporation (sometimes called a "Subchapter S corporation") is a special kind of corporation. Instead of the corporation paying federal income taxes, these taxes are passed through to the personal tax returns of the owners (shareholders). Federal Income Taxation of Corporation and Shareholders 7th (seventh) Pkg by Bittker, Boris I., Eustice, James S. () Paperback Paperback – January 1, out of 5 stars 17 ratings See all formats and editions Hide other formats and editions/5(17).