Webinar

S Corporations: How to Calculate Shareholder Basis

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A detailed analysis of the calculations related to determining a shareholder's tax basis for S corporation shares and loans, with a focus on how to use Form 1120S, Schedule K-1 information for basis determination. 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

• Discuss the calculation of basis when the entity is formed including the impact of contributed property.
• Explain the importance of shareholder loans to the entity.
• Uses a comprehensive example to illustrate the mechanics of the basis determination process.
• Discuss how basis is impacted by distributions of corporation property and sale/or liquidation of the S corporation interest.
• Explain how S corporation losses impact Form 1040 Schedule E reporting.
• Show how to get from the Schedule K-1 information to the basis calculations.

Learning objectives

• 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.
• Identify planning opportunities and potential pitfalls.

Who should take this program?

• CPAs working in public accounting firms and/or working for S corporations.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $89.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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