Question: When creating and operating a business the owner must determine his or her basis in the business. How does the owner compute his or her

When creating and operating a business the owner must determine his or her "basis" in the business.

How does the owner compute his or her basis in the business when the business is operated as a "C" corporation, an "S" corporation or a partnership?

What is the significance (i.e. importance) of the basis amount to the owners?

(the other response given did not answer the question

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