Surgent's Guide to Calculating S Corporation Stock Basis and Creating and Maintaining Basis Worksheets (CSSB)

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.

Highlights

• 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

Objectives

• How to calculate an S corporation shareholder's basis in his or her S corporation shares
• Understand and apply the S corporation shareholder loan basis rules

Designed For

Any tax practitioner with S corporations or S corporation shareholders as clients