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S Corporations: How to Calculate Shareholder Basis

Available Until

**OnDemand**

2.0 Credits

Member Price $78.00

Non-Member Price $108.00

Overview

A detailed analysis of the calculations related to determining an S shareholder’s tax basis for S corporation shares and loans. Learn 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.

Highlights

  • Analyzes the calculation of basis when the entity is formed including the impact of contributed property
  • Determine the importance of shareholder loans to the entity
  • Uses a comprehensive example to illustrate the mechanics of the basis determination process
  • Calculate how basis is impacted by distributions of corporation property
  • Identify how basis is impacted by sale/or liquidation of the S corporation interest
  • Determine how to get from the Schedule K-1 information to the basis calculations

Prerequisites

Basic working knowledge of S corporation taxation.

Designed For

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

Objectives

  • Distinguish 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

Preparation

None

Non-Member Price $108.00

Member Price $78.00