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Guide to Calculating S Corporation Stock Basis and Creating and Maintaining Basis Worksheets (CSSB) (SUCSSB03)

 
Date:Thursday, October 17, 2019
Time:10:00AM - 12:00PM
(Registration at 9:30 AM)
Facility:Webcast or Webinar, Online
CPE Credit:2.0 Technical Business
Instructor: Michael J. Tucker
Vendor:Surgent McCoy
Course Level:Intermediate
Early Bird Price:$89.00 FICPA Members, $119.00 Non-Members

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.

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 Topics:
  • 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


Who Should Attend:
Any tax practitioner with S corporations or S corporation shareholders as clients

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

Advanced Preparation:
None

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Registration Status: OPEN