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Event 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.

Designed For

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

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

Major Subjects

  • 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

Prerequisites

Basic understanding of tax rules relating to S corporations and S corporation shareholders

Instructions

When you purchase a Surgent CPE on-demand course, it must be taken by June 30, 2019, to receive credit.
Within 5 minutes after your purchase, you will receive an email from info@surgent.com that explains how to access your course and materials.
Once you complete a course, please allow up to 30 days to receive you certificate of completion.
If you have further questions, please email info@surgent.com or call 800.778-7436. Their help lines are staffed Monday-Friday from 8:30 am to 5 pm Eastern Time.