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Law in a Nutshell: Taxation of S Corporations

  • Edition : 3rd ed., 2020
  • Author(s) : Kahn, Kahn
    • ISBN: 9781647085261
    • SKU: 50539
    • Condition: New
    • Format: Paperback

    $57.60

    List Price: $60.00

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    • ISBN: 9781647085261
    • SKU: 50539V
    • Format: VitalSource eBook/ePub

    $49.50

    List Price: $56.25

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The Subchapter S rules are complex. This book describes the basic rules that apply to S corporations and their shareholders with sufficient detail to alert the reader to potential pitfalls. The topics covered include: (1) the qualification requirements for a Subchapter S election, (2) the allocation of tax items among the shareholders, (3) the effect of those allocations on a shareholder’s basis in stock and debt, (4) the limitations on the deduction of pass through items, (5) the treatment of corporate distributions, (6) the voluntary and involuntary termination of Subchapter S status, (7) the treatment of the year in which a Subchapter S election is terminated, (8) the limited availability of certain Subchapter S provisions after a Subchapter S election is terminated, (9) the taxation of an S corporation’s passive investment income and built-in gains, and (10) the business income deduction. The discussion of these issues is supplemented by numerous examples.