An item such as tax-exempt interest that appears in the Other Adjustments Account affects stock basis, but not
AAA.
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Q18: An S corporation cannot incur a tax
Q19: An S corporation's AAA can have a
Q20: NOL carryforwards from C years can be
Q21: Persons who were S shareholders during any
Q22: An S corporation shareholder's stock basis includes
Q24: Any distribution of cash or property by
Q25: The termination of an S election occurs
Q26: Tax-exempt income at the corporate level flows
Q27: Pass-through S corporation losses can reduce the
Q28: A capital loss allocated to a shareholder
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