ACC565 S Corporations Discussion

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timer Asked: Feb 14th, 2019
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Question Description

Discussion Topic: S Corporation

Details: Based on the information contained in the textbook and IRC, losses and deductions of an S corporation pass through to the shareholders of the corporation and are limited to the shareholders’ basis in the S corporation. Suggest a plan for a client to increase the deductible pass through loss and deductions over the initial investment from a new wholly owned S corporation.

Tutor Answer

RyanTopTutor
School: UCLA

Attached.

Running Head: LOSSES AND DEDUCTIONS OF AN S-CORPORATION

Losses and Deductions of an S Corporation
Name
Instructor
Institutional Affiliation
Date

1

LOSSES AND DEDUCTIONS OF AN S-CORPORATION

2

S corporation
An S corporation is a form of business entity in the United States whereby the business’s
incomes, losses as well as deductions are assigned explicitly to its shareholders. The law
governing S corporations requires equity holders to report the incomes, losses, and deductions if
any on their tax returns so that they can assume any resulting tax benefit or tax liability.
Therefore, S corporations are obligated to give to its...

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