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S Corporations: How to Calculate Shareholder Basis Webinar

CPE

When
June 21
9:30 - 11:30 a.m.

CPE Credits
2-Tax

Details

 Pricing

PICPA Member: $79 | Nonmember: $104


 More Information

Course No.
FTSDSHC2
Level
Intermediate
Prerequisites
Basic working knowledge of S corporation taxation.
Note
This webinar is hosted by PICPA's partner, CPA Crossings, LLC. After registering, you will receive an email from messenger@webex.com with the log-in information.

Description

This program provides a detailed analysis of the calculations related to determining a shareholder's tax basis for S corporation shares and loans, with a focus on how to use the Form 1120S, Schedule K-1 information for basis determination. An illustrative example will demonstrate how the process works. The many potential pitfalls will also be addressed. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:
After attending this presentation you will be able to...

  • Understand the tax issues related to S corporation owner's basis for shares and loans
  • Relate these issues to formation through operations and sale and/or liquidation

Highlights

The major topics covered in this class include:

  • How to calculate basis when the entity is formed
  • Impact of contributed property
  • Explanation of the importance of shareholder loans to the entity
  • Comprehensive example of the mechanics of the basis determination process
  • How basis is impacted by distributions of corporation property
  • How basis is impacted by the sale/liquidation of S corporation interest
  • How S corporation losses impact Form 1040, Schedule E reporting
  • Illustration of how to get from the Schedule K-1 information to the basis calculation


Speaker(s)


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