Which, if any, of the following transactions incurred by an S corporation is not a separately stated item?

Question

Quizplus · Accepted Answer

Amortization of organizational expenditures is not a separately stated item because it is a deduction for the S corporation and does not affect the shareholder's basis or tax liability. The other choices are all separately stated items that are reported on the shareholder's Schedule K-1 and may impact the shareholder's tax liability.

Which, If Any, of the Following Transactions Incurred by an S