Webcast: Stock & Debt Basis Calculations for S Corporation Shareholders (XCSSD117)
Tell a Friend About This EventTell a Friend
 

Get up to speed quickly in the area of basis calculations and distribution planning for the owners of an S corporation.

8/24/2017
When: 08/24/2017
12:00 PM until 2:00 PM
Where: Webcast
CALCPA
4173393Z
United States
Presenter: J Patrick Garverick, CPA, MT, CFP


Online registration is closed.
« Go to Upcoming Event List  

Acronym XCSSD117
CPE 2 hours
Vendor CalCPA
Category
Taxation
Level Intermediate
Prerequisite Basic understanding of individual income taxation.
Adv Prep None
Yellow Book? No
Designed for Tax professionals that need an in-depth training on basis calculations and distributions rules for S-Corporations shareholders.
Registration
Member $60
CPA Non-Member $94

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

Get up to speed quickly in the area of basis calculations and distribution planning for the owners of an S corporation.

Materials are provided as an ebook for this course.

Objectives

  • 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

Major Topics

  • 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