cluded qualified farm debt does not pass through to the shareholders and does not adjust their stock bases, the S corporation does not report it on Schedule K or K-1. hitp:Thvivvicalcpa.orgrpublicatIonsitaxadviser/2012/decemberfpagesiclinIc-stoty-05.aspx Page 2 of 4 EFTA_R1_01946562 EFTA02672725 AICPA