Federal taxation of S corporations and shareholders
Lorence L. Bravenec, American Law Institute-American Bar Association Committee on Continuing Professional Education
American Law Institute-American Bar Association Committee on Continuing Professional Education, Apr 1, 1997 - Business & Economics - 80 pages
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1996 Act change 2d Sess 9th Cir adjusted basis affected shareholders AFTR2d allocation amended by 1996 assets attributable bankruptcy beginning after December capital distributions capital gain check the endnotes class of stock clear Not clear closing of books Comm'r Cong corporation parent corporation stock corporation's debt December 20 December 31 dividend earnings and profits electing small business election to close endnotes that follow ESOPs Five-Year Waiting Period follow this chapter full closing H.Rept Ineligible items of income KSee limited liability company liquidation negative adjustments nonresident alien old rules ordinary income ownership parent S corporation partnership post-termination transition period potential current beneficiary Priv QSSS QSST election Qualified Subchapter redemption reduced return of capital S/H Not clear shareholder's interest small business trust stock basis Stock distributed stock sold Stock transferred T.C. Memo taxable years beginning taxation Testamentary Trust tion treated w/in 30 days