2024 S Corporation Essentials: Review & Update

Overview

This program addresses the critical issues and special opportunities facing S-corporations, with a focus on reporting shareholder basis and distributions.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Prerequisites

Basic working knowledge of business and S Corporation taxation

Objectives

• Apply the latest tax rules and regulations of S-corporations
• Identify shareholder basis and how to report it
• Distinguish and define complex S-corporation issues

Highlights

• Recent tax legislation, rules, and developments impacting S-corporations
• S corporation shareholder basis in stock and debt
• Schedules K-2 and K-3 reporting
• Basis of indebtedness
• S corporation open account debt
• Limitation of deduction of losses
• AAA and distributions