myCPE

Practical 1120S Tax Preparation Certification for S Corporations (PTPCSC)

Power Through Formation to Final Reporting

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4200+

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5/5(3.9K+ Reviews)
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Last Updated

May, 2025

Multiple
40
On Demand
Included with Subscription

Why Professionals Trust Our Advance Certification Programs

  • Access to cutting-edge industry knowledge and practices.
  • Comprehensive training designed to meet professional needs.
  • Fulfill compliance requirements while acquiring valuable skills.
  • Ongoing updates to course content for relevant industry trends.
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What You’ll learn

How well do you really know S Corporation Taxes? This hands-on certification is designed for CPAs, EAs, and tax professionals who prepare or review Form 1120S. You’ll explore critical concepts from basis tracking to liquidation strategies. Gain the expertise to analyze shareholder positions, interpret K-1 data, and stay current with annual federal tax updates.

Get Deeper Understanding of:

  • Entity classification impacts on tax reporting strategies
  • Shareholder-level implications of S Corporation elections
  • Treatment of fringe benefits and reasonable compensation
  • The role of AAA, OAA, and PTI in distributions
  • Key tax differences between C Corps and S Corps

Recommended For:

  • CPAs, EAs, and tax advisors experienced in entity Taxes seeking advanced knowledge in Schedule K-1 analysis, basis tracking, and S Corporation distributions—this course goes far beyond beginner-level Form 1120S preparation.
  • Professionals in public accounting, corporate finance, or tax compliance who work with S Corporation clients or pass-through entities and want to enhance their return preparation accuracy and reporting proficiency.
  • Individuals aiming to sharpen their understanding of S Corporation structures, tax treatment, and lifecycle planning, including those pursuing roles in tax advisory, entity compliance, or business structuring.

Why take the Practical 1120S Tax Preparation Certification for S Corporations with MYCPE ONE?

Resources included

  • Handout PDFs for every Module.
  • Glossary/Key Terms for every module.
  • Q&A directly with instructors.

Career Opportunities

  • Tax Consultant
  • S Corp Specialist
  • Corporate Advisor
  • Tax Reviewer
  • Compliance Analyst

Value Addition to your skills

  • Basis Analysis
  • Distribution Planning
  • Entity Structuring
  • Compliance Evaluation
  • K-1 Interpretation
  • Return Accuracy
  • Federal Updates

Courses

Course Title Time Credits Learning Format
8 Hours
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01666) 8 CE Approved
Taxes for Personal Financial Specialist (PFS) 8 CPD Eligible
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Taxes for Chartered Financial Consultant (ChFC) 8 CE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Taxes for Retirement Income Certified Professional (RICP) 8 CE Eligible
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Taxes for Wealth Management Certified Professional (WMCP) 8 CE Eligible
Taxes for Financial Services Certified Professional (FSCP) 8 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
Taxes for Chartered Advisor in Senior Living (CASL) 8 CE Eligible
Taxes for Chartered Special Needs Consultant (ChSNC) 8 CE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01666) 8 CE Approved
Taxes for Personal Financial Specialist (PFS) 8 CPD Eligible
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Taxes for Chartered Financial Consultant (ChFC) 8 CE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Taxes for Retirement Income Certified Professional (RICP) 8 CE Eligible
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Taxes for Wealth Management Certified Professional (WMCP) 8 CE Eligible
Taxes for Financial Services Certified Professional (FSCP) 8 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02223-24-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
Taxes for Chartered Advisor in Senior Living (CASL) 8 CE Eligible
Taxes for Chartered Special Needs Consultant (ChSNC) 8 CE Eligible
On Demand (video)
  • List key reasons for calculating basis in S corps, partnerships, and LLCs.
  • Calculate stock, debt, and at-risk basis for accurate loss deductions.
  • Review Forms 1120S and 1065 K-1 to track basis impact on Form 1040.
8 Hours
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01700) 8 CE Approved
Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 332276) (Valid upto : Dec 31, 2025) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01700) 8 CE Approved
Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 332276) (Valid upto : Dec 31, 2025) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02112-24-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
On Demand (video)
  • Form an S corporation and calculate inside asset basis and shareholder stock/debt basis.
  • Prepare Form 1120S Schedules K, M-2, and K-1 allocations, including distributions and foreign taxes.
  • Apply basis rules and assess 461(l) limits extended by the Inflation Reduction Act.
8 Hours
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01703) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01703) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02115-24-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
On Demand (video)
  • Form and operate an S corporation, including basis setup, growth challenges, and Schedule K-1 allocations.
  • Prepare Schedules M-2 and 7203, and evaluate distributions, liquidations, and capital gains reporting.
  • Review 2024–2025 tax updates for S corp planning, compliance, and evolving regulations.
8 Hours
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01989) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01989) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-02448-25-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
On Demand (video)
  • Review S Corp election, termination rules, and accounting period implications.
  • Calculate shareholder basis and apply distribution and liquidation rules.
  • Ensure Form 1120S compliance and avoid pitfalls in maintaining S Corp status.
8 Hours
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01829) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 8 CPE Approved
Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01829) 8 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-02329-25-S) 8 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
On Demand (video)
  • Identify key tax laws for individuals, corporations, partnerships, LLCs, and LLPs.
  • Apply new legislation, QBI, NOLs, depreciation, RMDs, and retirement rules.
  • Interpret IRS guidance and audit focus areas like PALs and self-employment tax.
Disclaimer : Before attending any course, please verify that the credit details align with your qualification requirements. This certificate is designed to help you acquire new skills and knowledge, which may or may not fulfill specific compliance criteria. While we have made every effort to ensure our courses adhere to compliance standards, we recommend reviewing the details to confirm applicability for your needs.

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“I really appreciated how the course broke down K-1 analysis and shareholder basis into digestible, real-world applications. It’s not just theory—every section gave me something useful for client work. As someone early in my career, this was a big win.”

Amanda Blake

Amanda Blake, EA

Tax Associate

Learning That Actually Sticks 📘

“Form 1120S used to intimidate me, but this course made it click. The examples were current, and the distribution planning segment was a game-changer. Now, I feel way more confident when handling S Corp returns at work.”

Tyler Grant

Tyler Grant, CRTP

Tax Consultant

MYCPE ONE is My Go-To Platform ⭐

“I’ve taken webinars all over, but nothing beats the layout and pacing on MYCPE ONE. Everything is clear, well-timed, and focused on what matters most in real practice. It’s easy to track your learning and jump back in where you left off. It really helps build momentum without overwhelming you.”

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Frequently Asked Questions

This certification offers in-depth training on S Corporation Taxes, focusing on the complete lifecycle—from formation and operational compliance to liquidation. It covers basis calculations, shareholder distributions, and accurate preparation of Form 1120S. You'll also explore how to interpret and review Schedule K and K-1, assess shareholder-level impacts, and implement the latest federal tax updates. Whether you're reviewing returns or building them from scratch, the course ensures a complete understanding of S Corp-specific reporting.

This certification will sharpen your ability to handle S Corporation returns with confidence. You’ll learn how to calculate and track shareholder basis, analyze complex K-1s, and handle tax compliance across various stages of an entity’s lifecycle. The training helps identify errors, apply up-to-date tax rules, and build client-ready returns. By the end, you'll have the tools to support tax planning, resolve reporting issues, and boost accuracy in preparing Form 1120S—making you a more efficient and trusted tax professional.

Certificate course is created by a qualified and experienced instructor(s). myCPE Certificate Courses includes Self-study Courses. Most of the courses are in the form of On-demand Videos. The Self-study Video courses in Certificate courses may be Live recorded presentations converted into Self Study (On-Demand Videos).

You can take your time and attend the course at your own pace. You can take exam unlimited time. So, don’t worry, if you are not able to pass an exam. You will be getting a chance to attend the exam again.

After completion of each course of this Certification Programs, you will be able to download a certificate with the course title and number of hours. Certificates, as well as your study records, are stored for life and you can access them anytime. Certificates are valid proof for your continuing education credits and you can also add it as an additional designation.

Once you register you will have complete access to all the courses of this Certification Programs. The self-study format allows you to access the material online 24x7 and study at your own pace.

As per NASBA guidelines, you have one year from date of purchase of your certificate to complete each program. After completion of each course, you can attend final exam any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.

Course have minimum passing score of 70% in the final exam and you can take multiple attempts of the said exam.

Our video player tracks & stores the watch time and will show you in the progress bar. But you make sure that you don’t fast forward or manually try to move the progress bar. If you have fast forwarded the video or tried to manually move the progress bar of the video. System wouldn’t capture your watch time. So please, let the video go on its own. However, being on-demand video you can pause and play and whenever you want and you can watch it in pieces. It will pick up from where you left off. So, for a self study courses you will have to
1. Complete the entire video 100%.
2. Answer all the review questions correctly. The review questions are at the bottom of the same page where you are viewing the course video.
3. Once you have watched the whole video and answered all the review questions, the Final Quiz will open up. You need to score more than 70% in the Final Quiz to avail your CPE credit. Multiple attempts are allowed for submitting Review and Final Quiz questions.
4. Once you have completed the Review and Final quiz questions, you shall be able to download the credit certificate from the ‘My Certificates’ section. Kindly ensure you have allowed Multiple File download from your web browser to download all certificates.
5. You can download individual certificate from your "Account" as well as from this page once you complete a particular courses. Also, you can download "Consolidated Certificate" from the package page or from your account.

A Self-study course is a recorded video (If it’s a recording of a live course you may see polling questions appearing on the screen. You do not need to answer the polling questions and just let the video play). Do not fast forward. If you fast forward, we may not be able to capture your watch time and you may be required to watch it multiple times. In order to avail your credits for the self-study course, you need to answer the review questions correctly and complete the entire video. Once you have done that, the Final Quiz will open up in which you need to score a minimum 70% to qualify for the credit. You can attempt multiple times for answering the review questions and Final quiz questions. Once you have completed the Review and Final quiz questions, you shall be able to download the credit certificate from ‘My Certificates’ section.
If neither of the above cases works, please drop an email to support@my-cpe.com or contact our support team through live chat support.

The evaluation form will be sent to attendees in the next 24 hours after passing the final quiz with at least 70% marks. Kindly note that the evaluation form will only be available to attendees who remained logged in till the end of the course and answered all the polling questions.

MY-CPE LLC is PCI Compliant - Approved. myCPE uses a secure payment gateway (Stripe.com) to process your payment details. This payment gateway is in accordance with the PCI-DSS Compliance. Therefore, your payment details are secure through SSL encryption. CLICK HERE to view our PCI compliance certificate. Once you have register for the package and paid for it you shall not be granted any refund unless you are not able to access courses for any reason etc.