An S Shareholder's Stock Basis Does Not Include a Ratable

question 101

True/False

An S shareholder's stock basis does not include a ratable share of S corporation liabilities.

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Definitions:

Employment Discrimination

Unfair treatment of employees based on race, gender, age, religion, or other protected characteristics.

Taft-Hartley Act

Federal legislation designed to curtail some of the powers that unions had acquired under the Wagner Act; designates certain union actions as unfair. Also called Labor-Management Relations Act.

Wagner Act

The first major piece of federal legislation adopted explicitly to encourage the formation of labor unions and provide for collective bargaining between employers and unions as a means of obtaining the peaceful settlement of labor disputes.

Sex Discrimination

Unfair treatment of people because of their sex or gender; includes both direct discrimination and practices that have a disproportionate impact on members of one sex.