title = "Schedule K-1 from S Corporations"

content = """
S corporations pass through income, deductions, and credits to shareholders
via Schedule K-1. Marble Column CPA ensures proper reporting and considers
basis, distribution ordering, and reasonable compensation issues.

**Key Boxes:** Similar structure to partnership K-1 but adapted for corporate
income and shareholder-specific items. Ordinary business income, rental
income, interest, dividends, capital gains, codes for credits, and
shareholder-level information (loans, distributions, basis).

**Basis:** Shareholder basis in stock and debt affects loss deduction and
distribution treatment. Ordering rules: income first increases basis;
distributions reduce basis; losses reduce basis (and may be limited).
Track carryover when basis is insufficient.

**Reasonable Compensation:** S corp shareholder-employees must receive
reasonable wages for services. Undercutting wages to avoid payroll tax
triggers IRS scrutiny. Document compensation analysis for client files.
"""  # noqa: E501

version = "0.0.1"
