S Corporations: How to Calculate Shareholder Basis Webinar

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