### Question
Can you define what subchapter S item means?


### Answer
**Subchapter S item** is defined as the following in *26 U.S.C. § 6037*:

> any item of an S corporation to the extent that regulations prescribed by the Secretary provide that, for purposes of this subtitle, such item is more appropriately determined at the corporation level than at the shareholder level

#### Citation:
  - *26 U.S.C. § 6037*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 61-INFORMATION AND RETURNS > Subchapter A-Returns and Records > PART III-INFORMATION RETURNS > Subpart A-Information Concerning Persons Subject to Special Provisions**

