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S-Corporations: How to Calculate the Shareholder’s Basis

8:30 am–10:10 am ET

CPE SelectAvailable with CPE Select

# of CPE Credits

2

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 and/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 * Updated with related TCJA regulations

Who Should Attend

CPAs working in public accounting firms and/or working for S-corporations

Required Knowledge

Basic working knowledge of S corporation taxation.

Advanced Prep

None

Event Speaker(s)

Mr. Steven C. Dilley, CPA, JD, Ph.D. ( Federal Tax Workshops, East Lansing, MI ),

Additional Event Information

Technical Support
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*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.

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Also Available As

Webinar
Monday, August 2, 2021 (8:30 am–10:10 am ET)
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Webinar
Thursday, September 9, 2021 (2:30 pm–4:10 pm ET)
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Share This Event

Event Vendor:Federal Tax Workshops
Field of Study:Taxes
Level: Intermediate
Other:Enrolled Agent

Event Type:Webinar
NASBA Instructional Method:Group Internet Based
Event Code:WB082221

Registration Fees

RegistrationEarly BirdRegular
CPE SelectN/A$0.00
NCACPA MemberN/A$80.00
Non-MemberN/A$105.00
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