sjrcpa
Level 15
12-07-2019
03:26 AM
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Equity on the S Corp Balance Sheet is not affected by stock transactions outside of the corporation. Yes father and son should each keep track of their basis in the S Corp. APIC belongs to the corporation, not the shareholders. APIC does not change for changes in ownership occurring outside of the corporation nor for distributions.
Ex-AllStar
Ex-AllStar