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All of the following are important reasons to keep good records of a shareholder's basis...

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Accounting

All of the following are important reasons to keep good records of a shareholder's basis in an S Corporation except: a. Limits the amount of S corporation loss deductible by the shareholder. b. To determine the amount of tax-free distributions. c. To determine the gain or loss on sale of stock. O d. To calculate the fair market value of the S corporation.

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