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S Corporations: How to Calculate the Owner's Basis - 6019
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A detailed analysis of the calculations related to determining an S shareholder's tax basis for S corporation shares using the Form 1120S, Schedule K-1 information. An illustrative example will demonstrate how the process works, as well as the many potential pitfalls.

 Export to Your Calendar 9/28/2016
When: 1:00 PM - 3:00 PM
Where: Webinar/Webcast
United States
Contact: April Deneault

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Acronym TDSCH2
CPE 2 hours
Category
Taxation
Level Intermediate
Vendor CPA Crossings, LLC
Who should attend

Federal Tax Workshops, Inc.

Prerequisite
None
Fees: Early Bird
Standard
Member N/A
$79
Non-Member: N/A
$79

Description 
A detailed analysis of the calculations related to determining an S shareholder's tax basis for S corporation shares using the Form 1120S, Schedule K-1 information.  An illustrative example will demonstrate how the process works, as well as the many potential pitfalls.


Specific topics include:

  • Discusses the calculation of basis when the entity is formed including the impact of contributed property.
  • Explains the importance of shareholder loans to the entity.
  • Uses a comprehensive example to illustrate the mechanics of the basis determination process
  • Discusses how basis is impacted by distributions of corporation property.
  • Explains how basis is impacted by sale and/or liquidation of the S corporation interest.

Objectives

  • To provide a thorough review and update of the tax issues related to S corporation owner's basis from formation through operations and concluding with sale and/or liquidation

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