title = "S Corporation Shareholder Basis Tracking"

content = """
Shareholder basis in S corp stock and debt limits loss deduction and
affects distribution treatment. Marble Column CPA maintains basis
schedules and ensures losses are not deducted in excess of basis.

**Stock Basis:** Starts with contribution; increases for income items,
decreases for losses and distributions. Cannot go below zero. Ordering:
increase for income first, then decrease for distributions, then losses.
Excess distribution may be taxable; excess loss suspends.

**Debt Basis:** Shareholder loans to S corp create debt basis. Losses
reduce stock basis first, then debt basis. Debt basis restored when loan
repaid? No — debt basis is separate. Repayment of loan does not restore
loss deduction; only future income can restore stock basis for loss
purposes. Track carefully.

**Documentation:** Basis schedule for each shareholder. Reconcile to
prior year and current K-1. Document carryover when basis limits loss.
"""  # noqa: E501

version = "0.0.1"
