ease or decrease in partnership liabilities affect the basis of an S Corporation shareholder’s stock? Does it affect it the same as a partner’s basis?…

How does an increase or decrease in partnership liabilities affect the basis of an S Corporation shareholder’s stock? Does it affect it the same as a partner’s basis? Does it matter if the liabilities are recourse or non-recourse?

An increase or decrease in partnership liabilities affect the basis of an S Corporationshareholder’s stock as it leads to change in the nature of capital. It does not affect the same asa…

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