Guide to Calculating S Corporation Stock Basis and Creating and Maintaining Basis Worksheets (Z1-CSSB-2021-01-SSWC)

This program discusses, in a practical way, how an S corporation shareholder calculates their stock and loan basis on Form 7203. Form 7203 is the IRS Form on which a shareholder is sometimes required to calculate their 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

HIGHLIGHTS

COURSE LEVEL

Intermediate

PREREQUISITES

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

ADVANCE PREPARATION

None