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Webinar (CPA Crossings): S Corporations: How to Calculate Shareholder Basis

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
Major Topics

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
Provider
CPA Crossings, LLC
Course Level
Intermediate
CPE Field of Study
Tax
2
Who Should Attend

CPAs working in public accounting and/or working for an S Corporation.

Instructor(s)
Steve Dilley
Prerequisites

Basic working knowledge of S corporation taxation.

Advanced Preparation

This webinar is produced by CPA Crossings. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
May 12, 2021
12:30 pm - 2:30 pm MDT
Location
Webinar
Total CPE Credits
2
Format
Webinar

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Webinar (CPA Crossings): S Corporations: How to Calculate Shareholder Basis


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