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22WS-1388: Surgent's Guide to Calculating S Corporation Shareholder Stock and Loan Basis (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Monday, January 23, 2023
Time 12:00pm - 2:00pm
Central Time
Location Online
CPE credits CPE 2.0
Field(s)
of study
Taxes - Technical (2.0)
Specialty
credits
2.0 IRS CE approved
Instructor Michael Tucker, PhD, LLM, JD, CPA
Surgent
Fees
Standard Member Fee $99.00
Standard Nonmember Fee $99.00

Description

This program discusses, in a practical way, how an S Corporation shareholder calculates their stock and loan basis on Form 7203. Form 7203 is the new IRS Form on which a shareholder is sometimes required to calculate their stock and loan basis. This topic is particularly important when an S Corporation has a loss and the shareholders wish to know whether they are entitled to fully utilize the loss that has been allocated to them against their other income.

Who should take this program?

Any tax practitioner with S Corporations or S Corporation shareholders as clients

Major subjects

  • Introduction to Form 7203
  • Introduction to the calculation of stock basis
  • Introduction to the calculation of loan basis
  • Taxable and nontaxable S Corporation distributions to shareholders
  • The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses

Learning objective(s)

  • Calculate an S Corporation shareholder's basis in his or her S Corporation shares on Form 7203
  • Understand and apply the S Corporation shareholder loan basis rules

Notes:

Course code Code 22WS-1388
Sponsor Surgent
NASBA ID#: 103212
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. Basic understanding of tax rules relating to S Corporations and S Corporation shareholders
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.