S corporations and their shareholders are subject to the rules regarding

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S corporations and their shareholders are subject to all of the above rules. The qualified business income deduction is available to eligible shareholders of S corporations, and the S corporation itself may also claim the deduction under certain circumstances. The limitation on net business interest applies to all businesses, including S corporations, and limits the amount of business interest expense that can be deducted on a tax return. The limitation on excess business losses, which limits the amount of business losses that can be used to offset other types of income, also applies to S corporations and their shareholders.

S Corporations and Their Shareholders Are Subject to the Rules