Webinar: S Corporations: Calculating Shareholder Basis

WC2439  |  Course  |  Intermediate  |  Scheduled

Description

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.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

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 knowledge of S Corporations and taxes

Highlights

The major topics that will be covered in this course include:

  • 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
  • Schedule K-1 Basis and Form 7203
  • 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

Objectives

After attending this presentation, you will be able to...

  • Identify 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

Preparation

None

Notes

Webinar Day - HELP and Assistance Instructions

  1. The session will open 30 minutes prior to the start time. At that time, you will receive a reminder email bringing you to your Attendee Dashboard and a link to join the webinar.
  2. We recommend you log in early to ensure you are ready to go when the presentation begins.
  3. IF YOU ARE HAVING TROUBLE LOGGING INTO THE WEBINAR, please call the CPA Crossings Customer Service Team at (877)-370-2220 Ext. #1.

Prices

Member (Early Bird)
$89.00
Non-Member (Early Bird)
$89.00
Member
$89.00
Non-Member
$89.00
Your Price: $89.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

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