27-8-9 - Character of items received by corporation but accounted for by shareholder.
§ 27-8-9. Character of items received by corporation but accounted for by shareholder.
The character of any S corporation item taken into account by a shareholder of an S corporation under Section 27-8-7(2) shall be determined as if such item were received or incurred by the S corporation and not its shareholder.
Sources: Laws, 1993, ch. 456, § 5, eff from and after January 1, 1994.