Federal Income Taxation of S Corporations

Provides a concise introduction to the taxation of S corporations and their shareholders. The book explains the basic law and offers examples to focus the scope and application of the general principles. This third edition has been fully updated to reflect developments to June 2022.

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This text provides a concise introduction to the taxation of S corporations and their shareholders. It explains the basic law and offers examples to focus the scope and application of the general principles. Topics include: electing and maintaining S status; shareholder-level taxation of income, loss, and distributions; use of shareholder debt; qualified subchapter S subsidiaries; and special taxes imposed on S corporations. More advanced topics are also addressed, including redemptions, acquisitions and dispositions, as well as the advantages and disadvantages of S corporations compared to partnerships. This third edition has been fully updated to reflect developments through June 2022.