S Corp Basis - treasury stock

[Florida_EA]

If an S Corporation buys back stock and the Treasury stock is reflected on the balance sheet, does the amount of the treasury stock affect stock basis?

[TAXNJ]

Some info....

See paragraph 4 of attached. (Not all inclusive of your scenario and further research required)

https://bizfluent.com/info-12073304-...ury-stock.html

[JON]

Is not basis tracked at the stockholder's return?

[Florida_EA]

Is not basis tracked at the stockholder's return?

Yes it is tracked at the shareholder. As an example if additional stock is contributed this increase equity of the S corporation and also the basis of the shareholder who contributed.

So my question was if stock is bought back then how does it affect the shareholder basis in that S Corporation.