Description
A detailed analysis of the calculations related to determining an S 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.
Objective
To provide a thorough review and update of the tax issues related to S corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation.
Highlights
* Discusses the calculation of basis when the entity is formed including the impact of contributed property * Explains the importance of shareholder loans to the entity * Uses a comprehensive example to illustrate the mechanics of the basis determination process * Discusses how basis is impacted by distributions of corporation property * Explains how basis is impacted by sale/or liquidation of the S corporation interest * Discusses how S corporation losses impact Form 1040 Schedule E reporting * Shows how to get from the Schedule K-1 information to the basis calculations.
Who Should Attend
CPAs working in public accounting firms and/or working for S corporations.
Required Knowledge
Basic working knowledge of S corporation taxation and reporting.
Advanced Prep
None
Event Speaker(s)
Additional Event Information
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.
If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected] .
*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.
Test Your System
You may test your system by clicking here. Please test your system to ensure you have the proper components installed.
Also Available As
Friday, May 20, 2022 (3:00 pm–4:40 pm ET)Register >>
Thursday, July 21, 2022 (1:00 pm–2:40 pm ET)Register >>
Friday, September 30, 2022 (2:00 pm–3:40 pm ET)Register >>
Monday, October 3, 2022 (2:00 pm–3:40 pm ET)Register >>
Share This Event
Registration Fees
| Registration | Early Bird | Regular |
|---|---|---|
| NCACPA Member | N/A | $85.00 |
| Non-Member | N/A | $110.00 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.