User talk:Bobfend
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Yes, you are correct..If, during the taxable year of an S corporation, any shareholder terminates his or her entire interest in the corporation, the corporation can elect to treat the year as if it consisted of two taxable years for the purpose of computing each shareholder's pro rata share of the corporation's income, deductions, and credits. The first taxable year ends on the date the shareholder's interest in the corporation terminates.
I should have read your question closer...to my knowledge there is no special allocation method available when there is just some dilution of interest.
