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1. Keeping track of shareholder basis in S-Corporation stock is the responsibility ofa. the corporationb. the shareholder
2. Knowing the basis in the stock is importanta. for limiting the amount of loss a shareholder can deductb. for limiting the amount of gain a shareholder must report
3. A non-taxable distribution to a shareholdera. increases basis in the stockb. decreases basis in the stockc. neither
4. Shareholder basis is affected bya. a loan directly from the shareholder to the corporationb. a personal guarantee on a bank loan to the corporationc. both
5. Giving a note to a corporation for the purchase of additional sharesa. increases shareholder basisb. does not increase shareholder basis
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