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S Corporations: How to Calculate Shareholder Basis (Z2-417)

100 Minutes
On demand - Video

On Demand - Video

2 CPE Credits in TX

OVERVIEW

A detailed analysis of the calculations related to determining an S shareholder's tax basis for S corporation shares and loans. Learn 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.

BENEFITS

  • Distinguish the tax issues related to S corporation owner's basis for shares and loans from formation through operations
  • Determine strategies of a sale and/or liquidation
  • Analyze how S corporation losses impact Form 1040 Schedule E-reporting

HIGHLIGHTS

  • Analyzes the calculation of basis when the entity is formed including the impact of contributed property
  • Determine the importance of shareholder loans to the entity
  • Uses a comprehensive example to illustrate the mechanics of the basis determination process
  • Calculate how basis is impacted by distributions of corporation property
  • Identify how basis is impacted by sale/or liquidation of the S corporation interest
  • Determine how to get from the Schedule K-1 information to the basis calculations

COURSE LEVEL

Intermediate

PREREQUISITES

Basic working knowledge of S corporation taxation.

INSTRUCTOR

Steven Dilley

Steven C. Dilley, CPA, J.D., Ph.D.

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PRICING

$58.00 - Member

$78.00 - Nonmember

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COURSE DEVELOPER

CPA Crossings