S Corp – formation contribution, distribution

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  • August 17, 2013 at 3:27 am #179468
    noodles
    Member

    This is what I have in my notes, can anyone verify if it’s correct?

    1. S Corp formation contribution – use C Corp rules (section 351, etc)

    2. S Corp operation – taxed like partnership, pass-through

    3. S Corp non-liquidating distribution – almost the same as C Corp, except for AAA (tax-free reduction of basis)

    4. S Corp liquidating distribution – use C Corp rules

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