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S Corporations: Calculating Shareholder Basis

Overview

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.

Prerequisites

Basic knowledge of S Corporations and taxes

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

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

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

WX46208

2 CPE Credits
Tax: 2 Credits

Registration

Member Price:
$89
Non-member Price:
$119

Registration is open through 04/26.

Saturday, April 26th

9:30am to 11:30am

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Instructor

Steven Dilley