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musickatia [10]
3 years ago
7

Identify which of the following statements is false. A. The AAA balance can be​ negative, but the​ shareholder's basis in the S

corporation stock cannot be less than zero. B. Nonmoney property distributions made by an S corporation having accumulated​ E&P are treated differently when determining the corporateminuslevel gain recognized under Sec. 311 than are property distributions made by an S corporation without accumulated​ E&P. C. The AAA represents the cumulative​ income/loss recognized in postminus1982 S corporation years. D. Taxminusexempt income does not increase the AAA but increases the basis of the S corporation stock.
Business
1 answer:
astra-53 [7]3 years ago
7 0

Answer:

(B) Nonmoney property distributions made by an S corporation having accumulated​ E&P are treated differently when determining the corporateminuslevel gain recognized under Sec. 311 than are property distributions made by an S corporation without accumulated​ E&P.

Explanation:

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