S Corporations: How to Calculate the Shareholder's Basis

Course Details

Date

Tuesday, June 23, 2020

4:30am – 6:30am

Field of Study

Taxation

Course Number

CC1453

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Intermediate

Vendor

CPA Crossings

Prerequisites

None

Description

A detailed analysis of the calculations related to determining an S shareholder's tax basis for S corporation shares using the Form 1120S, Schedule K-1 information. An illustrative example demonstrates how the process works, as well as the many potential pitfalls.

This course qualifies for PTIN credit.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

  • 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/or liquidation of the S corporation interest.
  • Shows how to get from the Schedule K-1 information to the basis calculations.

Objectives

To provide a thorough review and update of the tax issues related to S corporation owner's basis from formation through operations and concluding with sale and/or liquidation.

Designed For

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

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$79.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$109.00
Your Price $109.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

View All Webcasts