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Live Webcast Replay

2024 S Corporations: How to Calculate Shareholder Basis


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
   10
Categories:
ACPEN Tax Institute |  IRS Approved |  Tax
Faculty:
Steven C. Dilley, CPA, JD, PhD
Course Levels:
Intermediate
Duration:
2 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

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

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

 

Basic Course Information

Learning Objectives
  • Identify the tax issues related to S corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation

Major Subjects
  • Discuss the calculation of basis when the entity is formed including the impact of contributed property
  • Explain the importance of shareholder loans to the entity
  • Uses a comprehensive example to illustrate the mechanics of the basis determination process
  • Discuss how basis is impacted by distributions of corporation property
  • Explain how basis is impacted by sale/or liquidation of the S corporation interest
  • Discuss how S corporation losses impact Form 1040 Schedule E reporting
  • Show how to get from the Schedule K-1 information to the basis calculations

Course Materials

Faculty

Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related Seminars and Products


Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.


Dates

Mon, Oct 28, 2024 - 03:00pm to 04:46pm EDT
Sat, Nov 16, 2024 - 05:00pm to 06:46pm EST
Wed, Nov 27, 2024 - 09:00am to 10:46am EST
Tue, Dec 10, 2024 - 07:00pm to 08:46pm EST
Thu, Dec 19, 2024 - 01:00pm to 02:46pm EST
Sat, Dec 28, 2024 - 03:00pm to 04:46pm EST
Tue, Jan 07, 2025 - 05:00pm to 06:46pm EST
Wed, Jan 22, 2025 - 09:00am to 10:46am EST
Fri, Feb 14, 2025 - 11:00am to 12:46pm EST
Wed, Feb 26, 2025 - 01:00pm to 02:46pm EST
Sat, Mar 15, 2025 - 03:00pm to 04:46pm EDT
Fri, Mar 28, 2025 - 05:00pm to 06:46pm EDT
Fri, Apr 11, 2025 - 09:00am to 10:46am EDT
Tue, Apr 29, 2025 - 07:00pm to 08:46pm EDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of business and S corporation taxation
Advanced Preparation

None


Designed For CPAs working in public accounting firms and/or working for S corporations
Original Recording Date 04/2024
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 3/13/24

Additional Information

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Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
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Overall:      4.5

Total Reviews: 10