September 17, 2020 President and director of Kentucky nonstock, nonprofit entity wasn't a shareholder and may not claim pass-through losses, Tax Court holds In a TC Opinion (Clinton Deckard v. Commissioner), the Tax Court has held that an individual who served as the president and a director of a Kentucky nonstock, nonprofit corporation held no ownership interest in the corporation equivalent to a shareholder interest for purposes of applying subchapter S. Consequently, he could not claim the corporation's pass-through losses on his individual income tax return. | ||||