Webinar: S Corporations: How to Calculate Shareholder Basis
WB465 | Course | Intermediate | Scheduled
Description
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
Credits
| Number of Credits | Type of Credits |
|---|---|
| 2.00 | Taxes |
Designed For
CPAs working in public accounting firms and/or working for S corporations
Prerequisites
Basic working knowledge of business and S corporation taxation
Highlights
- 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
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
Preparation
None
Notes
This webcast is provided by ACPEN. After registering for the course, you will receive an email from ACPEN with instructions for logging in to the webcast and obtaining your eMaterials.
Prices
- Member (Early Bird)
- $79.00
- Non-Member (Early Bird)
- $109.00
- Member
- $79.00
- Non-Member
- $109.00