24SS-0410: Surgent's Form 1120-S Boot Camp: Step-by-Step Preparation With Completed Forms (Self-Study)
Valid for one year from purchase date
Self-study - Downloadable PDF
8 CPE (8 technical) | 8 IRS CE
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The objective of this course is to train new, rusty, or returning-to-practice staff to prepare complicated federal subchapter S Corporations tax returns. The course utilizes a chapter-by-chapter, hands-on approach. As more details are discussed in each chapter, participants are provided with the information needed to prepare an intricate Form 1120-S. The course and instruction delivery are geared toward basic understanding and systematically address more complex issues via Surgent's step-by-step preparation guide. The boot camp will help staff understand the connections between a trial balance and a completed S Corporations return. The completed Form 1120-S is provided in the case solutions.
Major subjects
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Federal income tax laws for S Corporations, from formation to tax return preparation issues
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Key operational issues of separately stated versus non-separately stated income and expenses
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The importance of Schedule M-1
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Accurately accounting for basis, AAA, and distributions
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Properly preparing and allocating items on Schedule K-1
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Reporting requirements for Schedules K-2 and K-3, including 2023 filing exceptions
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Form 7203, S Corporations Shareholder Stock and Debt Basis Limitations
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Identification of eligible shareholders
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Requirements to make a timely or late election
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Involuntary S Corporations status terminations, cases and rulings, and other developing issues and hot topics
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Mastering Forms 4562 ("Depreciation and Amortization") and 4797 ("Sales of Business Property")
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S Corporations reporting oddities
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Accurately preparing S Corporations returns and reconciling book income with taxable income
Learning objective(s)
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Prepare Form 1120-S and Schedules M-1, K, and K-1
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Understand common business reporting on Forms 4562 and 4797
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Provide staff with the first stage of a graduated professional education program in servicing S Corporations clients
Who should take this program?
All levels of staff and company controllers responsible for filing these forms
Fees
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$159.00
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Standard Member Fee |
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 Standard Nonmember Fee |
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