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QUESTION
ease or decrease in partnership liabilities affect the basis of an S Corporation shareholder's stock? Does it affect it the same as a partner's basis?...
How does an increase or decrease in partnership liabilities affect the basis of an S Corporation shareholder's stock? Does it affect it the same as a partner's basis? Does it matter if the liabilities are recourse or non-recourse?
An increase or decrease in partnership liabilities affect the basis of an S Corporationshareholder's stock as it leads to change in the nature of capital. It does not affect the same asa...