ch 22 hw.docx
TRANSCRIPT
Ch. 22 #1,3,5,8,9,11,15 Tim Lee
1. S corporations are treated much like partnerships, except that S corporations amortize orga-
nizational expenditures under the C corp rules and must recognize gains but no losses on dis-
tributions of appreciated property to shareholders. For partnerships, certain deductions of in-
dividuals are not permitted.
3. The net operating loss can be passed through directly to the shareholders. A shareholder can
deduct an NOL for the year in which the S corp’s tax year ends
5. A, B, C
8. Partnerships cannot own stock in a small business corporation. His plan will not work.
9. D, a one-person LLC
11. A, D, C (only some)
15.
A. Yes
B. Yes
C. Yes
D. Yes
E. Ni