Per the text and IRC, losses and deductions ofan S corporation pass through to the shareholders of the corporation and arelimited to the shareholders’ basis in the S corporation. Suggest a plan for aclient to increase the deductible pass through loss and deductions over theinitial investment from a new wholly owned S corporation.From the e-Activity, differentiate between the treatmentof S corporation distributions from corporations having no earnings andprofits, and corporations having accumulated earnings and profits. Suggest themost significant reason for the difference in the treatment of distributions.Justify your response.e-Activity: Go to the Tax Almanac Website, located at http://www.taxalmanac.org/index.php/Tax_Research_Resources,or use the Internet and Strayer databases to research S corporationdistributions and taxation. Be prepared to discuss.
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