A subtraction shall be made to Federal adjusted gross income for the amount of the reduction in basis of such stock or indebtedness in accordance with:
(c) A subtraction shall be made to Federal adjusted gross income for the amount of the reduction in basis of such stock or indebtedness in accordance with:
(1)section 1376(b) of the Internal Revenue Code, (relating to the shareholder's pro rata share of the corporations net operating loss) as such section was in effect for taxable years beginning before January 1, 1983; and#
(1) section 1376(b) of the Internal Revenue Code, (relating to the shareholder's pro rata share of the corporations net operating loss) as such section was in effect for taxable years beginning before January 1, 1983; and
(2)sections 1367(a)(2)(B) and (C) of the Internal Revenue Code, (relating to S corporation items of loss and deduction that were previously required to be included in the shareholder's Federal gross income).#
(2) sections 1367(a)(2)(B) and (C) of the Internal Revenue Code, (relating to S corporation items of loss and deduction that were previously required to be included in the shareholder's Federal gross income).