Get up to speed quickly in the area of basis calculations and distribution planning for the owners of an S corporation.
- Line-by-line analysis of the Schedule K-1 to determine how the items affect a S shareholder’s stock and debt basis and where the items get reported on Federal individual income tax return
- The three loss and deduction limitations on the owner’s individual income tax return (i.e. basis, at-risk and other Form 1040 limitations)
- How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners
- Calculating the tax treatment of the sale of a shareholder’s stock in a S corporation
- What constitutes debt basis for a S corporation shareholder under the final regulations
- The tax ramifications of repaying loans to S corporation shareholders and on open account debt
- List the 3 main reasons for calculating a shareholder’s basis in a S corporation
- Calculate the stock and debt basis for S corporation shareholders
- Review the Form 1120S Schedule K-1 to determine how the line items affect basis calculations and get reported on the individual owner’s Form 1040
Tax professionals that need an in-depth training on basis calculations and distributions rules for S-Corporations shareholders.
Basic understanding of individual income taxation.
Vendor:CalCPA Education Foundation
Member/Nonmember Fees:60 / 94
CPE:Taxes 2 hour(s)
Yellow Book Credit:No
J Patrick Garverick, CPA, MT, CFP
Garverick Province LLC
Cancellation or transfer requests made six(6) business days or more prior to the program, no fee assessed.
Cancellation or transfer requests made two(2) to five(5) business days prior to the program, $25 fee assessed.
Cancellation or transfer requests made one business day prior to the program, $50 fee assessed.
Day of program or no notice of cancellation, 100 percent course fee assessed.
If you transfer from an in-person class course to a webcast, the above policies apply.
Remember, the COCPA reserves the right to cancel a course seven days prior to the program date. Please keep this cancellation policy in mind when making your travel plans and airline reservations. The COCPA will not be liable for flight cancellation penalties due to our cancellation.
To cancel or transfer a course, please contact the Member Services department at 303-773-2877 or 800-523-9082.