S Corporation Checkup: Tax Issues and Forms Reporting
Monday, April 20, 2026
10 a.m.-1:40 p.m. Central
4 CPE (4 technical) | 4 IRS CE
Course code: 26WA-0780
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A detailed analysis of the calculations related to determining a shareholder's tax basis for S corporation shares and loans. How to use the Form 1120S, Schedule K-1 information for basis determination, as well as an update on Schedules K-2 and K-3. An illustrative example demonstrates how the process works, as well as the many potential pitfalls.
Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com
Major subjects
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Discuss the calculation of basis when the entity is formed including the impact of contributed property
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Explain the importance of shareholder loans to the entity
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Uses a comprehensive example to illustrate the mechanics of the basis determination process
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Schedules K-2 and K-3
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Discuss how basis is impacted by distributions of corporation property
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Explain how basis is impacted by sale/or liquidation of the S corporation interest
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S corporation losses and how they impact Form 1040 Schedule E reporting
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Show how to get from the Schedule K-1 information to the basis calculations
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Comprehensive example to illustrate the mechanics of the basis determination process
Learning objectives
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Apply recent legislative development impacting S corporations and their shareholders
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Identify the tax issues related to S corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation
Who should take this program?
- CPAs working in public accounting firms and/or working for an S corporation
Pricing
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Standard Member Fee |
$129.00
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 Standard Nonmember Fee |
$129.00
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