Surgent's Guide to Calculating S Corporations Shareholder Stock and Loan Basis
Valid for one year from purchase date
Self-study - On-Demand
2 CPE (2 technical) | 2 IRS CE
Course code: 24SS-0141
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This program discusses, in a practical way, how an S Corporations 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 Corporations 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.
Major subjects
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Introduction to Form 7203
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Introduction to the calculation of stock basis
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Introduction to the calculation of loan basis
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Taxable and nontaxable S Corporations distributions to shareholders
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The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses
Learning objectives
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Calculate an S Corporations shareholder's basis in his or her S Corporations shares on Form 7203
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Understand and apply the S Corporations shareholder loan basis rules
Who should take this program?
- Any tax practitioner with S Corporations or S Corporations shareholders as clients
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