Webinar

S Corporations: How to Calculate Shareholder Basis

If you have questions about this event, please call us at 952-831-2707.

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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. 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
• Explain how basis is impacted by sale/or liquidation of the S corporation interest
• Discuss 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

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 $79.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.