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Guide to Calculating S Corporation Stock Basis and Creating and Maintaining Basis Worksheets (Z1-CSSB)

100 Minutes
On demand

On Demand

2.0 CPE Credits in TX

OVERVIEW

This program discusses, in a practical way, how an S corporation shareholder calculates his or her stock and loan basis. This topic is particularly important when an S corporation 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.

DESIGNED FOR

Any tax practitioner with S corporations or S corporation shareholders as clients.

BENEFITS

  • How to calculate an S corporation shareholder's basis in his or her S corporation shares
  • Understand and apply the S corporation shareholder loan basis rules

HIGHLIGHTS

  • How to determine S corporation shareholder stock and loan basis
  • The positive and negative basis adjustments S corporation shareholders make--and the order in which they are made
  • The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses
  • Shareholder loan basis rules

COURSE LEVEL

Intermediate

PREREQUISITES

Basic understanding of tax rules relating to S corporations and S corporation shareholders.

ADVANCE PREPARATION

None

PRICING

$36.75 - Member

$49.00 - Non Member

ALSO AVAILABLE

COURSE DEVELOPER

Surgent