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  1. U.S. Code Title 26
  2. Subtitle A
  3. Chapter 1
  4. Subchapter S
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Subchapter S: Tax Treatment of S Corporations and Their Shareholders

Part I: IN GENERAL

  • Section 1361: S corporation defined
  • Section 1362: Election; revocation; termination
  • Section 1363: Effect of election on corporation

Part II: TAX TREATMENT OF SHAREHOLDERS

  • Section 1366: Pass-thru of items to shareholders
  • Section 1367: Adjustments to basis of stock of shareholders, etc.
  • Section 1368: Distributions

Part III: SPECIAL RULES

  • Section 1371: Coordination with subchapter C
  • Section 1372: Partnership rules to apply for fringe benefit purposes
  • Section 1373: Foreign income
  • Section 1374: Tax imposed on certain built-in gains
  • Section 1375: Tax imposed when passive investment income of corporation having accumulated earnings and profits exceeds 25 percent of gross receipts

Part IV: DEFINITIONS; MISCELLANEOUS

  • Section 1377: Definitions and special rule
  • Section 1378: Taxable year of S corporation
  • Section 1379: Transitional rules on enactment
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