According to IRC section 1366(d) the aggregate amount of losses and deductions an S corporation shareholder may take into account for any taxable year may not exceed the sum of the adjusted basis of ...

In this Part XI of my multi-part series on some of the not-so-obvious aspects of S corporations, I explore a topic that should be obvious but which appears to be ignored by many taxpayers and their ...

Each shareholder then reports on his individual return the shareholder’s proportionate share of the corporation’s items of income, loss, deductions and credits. These items retain their character when ...

Two brothers’ additional capital contributions to S corporations of which they were shareholders could not offset their ordinary income from payments for loans they made to the corporations, the Tax ...

The magical application of Section 1202 for C corporation shareholders seems too good to be true, with millions of tax dollars being saved. However, after the significant corporate tax rate reduction ...

The tax treatment of an S corporation as a pass-through entity, with respect to which items of income, gain, loss, and deduction do not generally result in a corporate tax obligation, but, instead, ...

IRC Section 1371 provides that an S corporation is subject to the same rules that apply in the context of a C corporation unless there is a specific rule that has been developed for S corporations.