Comprehensive S Corporation Taxation Form 1120S
Wednesday, Jan. 14, 2026
10 a.m.-5:30 p.m. Central
8 CPE (8 technical)
Course code: 25WC-0650
View pricing
This course comprehensively reviews the laws and regulations impacting S Corporations. Get updated on the IRS' compliance campaign that targets the improper reporting and calculations of stock basis and distributions. Learn to calculate and report critical S Corporation tax items that generate most IRS audit adjustments correctly. Topics cover issues include S Corporation qualifications, making and keeping the S election, reasonable compensation, taxation of distributions, the use of Qualified Subchapter S Subsidiaries, allocation of annual operating income and loss, tax reporting elections and learning the proper method to calculate the basis of stock and debt amounts.
Major subjects
-
Learn how to qualify and to make the S Corporation election
-
Determine how to calculate initial and annual stock and debt basis amounts and the three reasons why they are maintained
-
Understand the four loss limitation rules applied on the shareholder's individual income tax return (i.e., basis, at-risk, passive, and excess business loss limitations)
-
Understand the proper tax treatment and reporting of a distribution from the S Corporation to a shareholder
-
Determine how to calculate AAA and OAA account for an S Corporation as well as the 3 potential taxes
-
Determine the impact of health insurance, the net investment income tax, qualified business income tax deduction and unreasonable compensation issues on the reporting function of the S Corporation
Learning objectives
-
Identify how to form a qualified entity and elect S Corporation status
-
Determine how to properly allocate income and loss items to shareholders on their individual Schedule K-1
-
Calculate an S Corporations' initial basis in its assets as well as a shareholder's stock and debt basis in the S Corporation
-
Recognize three main reasons for calculating a shareholder's basis in an S Corporation and how to make annual adjustments to a shareholders' stock and debt basis
-
Calculate AAA and OAA account for an S Corporation under various scenarios
Who should take this program?
- Tax professionals, CPAs, accountants, and other financial professionals looking to expand and update their understanding and knowledge
Pricing
|
Standard Member Fee |
$329.00
|
 Standard Nonmember Fee |
$439.00
|
MNCPA members save $110.00. Become a member.
Our records indicate
you are a
nonmember.
If you register, you will be charged
$439.00
(Standard Nonmember Fee).
Members: Please
log in
to receive member fee.
