Assertion: close corporation's shareholder | /r/HasAspect | sufficient basis
Facets:
value: in his stock
type: LOCATION
Source sentences:
text: Any losses in excess of this amount are suspended and are generally carried forward until such time as the shareholder has sufficient basis in his stock and/or debt to absorb such excess.
text: Assuming the shareholder has sufficient basis to utilize his full share of the corporation’s losses, his ability to deduct those losses on his income tax return may still be limited by the passive activity loss rules of IRC Sec.