[kdbcrb]

I keep going back over my Becker book, and have double checked the basis for forming and distributions etc., on C Corps and Partnerships. But there’s nothing that specifies which rules an S Corp follows? Anyone know off hand?

[kdbcrb]

BTW – I should have clarified that this is on property, NBV vs. FMV on forming, distributions and liquidations.

[Herbieherb]

I think u gotta form a c corp first. Then they elect to become s. I would think it follow c corp rules for formation.

NEW YORK- DONE

[kdbcrb]

I know you don't have to be a C corp first, because my husband had an LLC and made the S election. Oh well – hopefully I won't get any questions on it since it wasn't in the book! Thanks for responding…

[mmp]

Remember distributions are treated same as those in partnerships, so I assume that the basis will be calculated same as partnerships. Be familiar with this concept.

[Author]

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