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Guide to Calculating S Corporation Stock Basis and Creating and Maintaining Basis Worksheets Webinar

CPE

When
Dec. 2
10:00 a.m. - 12:00 p.m.

CPE Credits
2-Tax

Details

 Pricing

PICPA Member: $89 | Nonmember: $114


 More Information

Course No.
CSSB-2021-01-WEBNR-336-01
Level
Intermediate
Prerequisites
Basic understanding of tax rules relating to S corporations and S corporation shareholders
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

This program discusses, in a practical way, how an S corporation shareholder calculates his or her stock and loan basis. This topic is particularly important when an S corporation has a loss and the shareholders wish to know whether they are entitled to fully utilize the loss that has been allocated to them against their other income. Discussion includes the new IRS requirements to disclose an S corporation shareholder’s basis under certain circumstances.

Highlights

  • The requirement to attach a basis schedule to the Form 1040 for an S corporation shareholder claiming a loss
  • How to determine S corporation shareholder stock and loan basis
  • The positive and negative basis adjustments S corporation shareholders make and the order in which they are made
  • The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses
  • Shareholder loan basis rules


Speaker(s)

Michael J Tucker, Ph.D., LL.M., J.D., CPA

Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. In addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York University, his LL.M. from Georgetown University Law Center, and his Ph.D. from the University of Houston.

 

 


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