Nutshell series. Study aids (West Academic Publishing)
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, and (9) the taxation of an S corporation's passive investment income and built-in gains. The discussion of these issues is supplemented by numerous examples.
Formatted Contents Note
Introduction Eligibility to qualify as an S corporation Effect of an S election Shareholder's basis in S corporation's stock and debt obligations Limitations on deductions Distributions received from an S corporation Termination of election Taxation of passive investment income Taxation of built-in gains Fringe benefits.
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Source of Description
Description based on e-publication title page, viewed March 1, 2017.
Revision of: Kahn, Douglas A., 1934- Taxation of S corporations in a nutshell. St. Paul, MN : Thomson/West,