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.
* 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.
* 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
Basic working knowledge of S corporation taxation.
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.
Share This Event
For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.