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Schedule M-2 - How to Correctly Prepare the AAA and Determine the Tax Ramifications of S Corporation Distributions

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J. Patrick Garverick, CFP, CPA

THE GARVS LLC

Tuesday, April 28, 2020 | 09:30 AM EDT

  • CPA
  • EA

2 Credits

$30

Subject Area

Taxes

Upcoming Webinars

Course Description

Recommended for Tax professionals that need in-depth training on how to prepare the S-Corporation Schedule M-2 and determine the tax ramifications of distributions

This comprehensive training is designed to get the accountant up to speed quickly on how to prepare the S Corporation Schedule M-2 and determine the tax ramifications of distributions. This webinar will help you in identifying how to form an S corp and calculate its initial inside basis in the assets and shareholder's stock and debt basis. It will also help in preparing a basic S corp (Form the 1120S) Schedule K and Schedule M-2, including the reporting of cash and non-cash distributions

MAJOR TOPICS 

  • Schedule M-2 detailed step-by-step analysis of the AAA, OAA and PTI accounts 
  • Tax treatment of distributions when the S corporation has prior C corporation earnings and profits (E&P) 
  • how to report earnings and profits (E&P) on Schedule K and K-1

Learning Objectives

  • Prepare the S Corporation Form 1120S Schedule M-2
  • Determine if any S corporation distributions are taxable as dividends to the shareholders and know how to report them on the S Corporation tax return

Who Should Attend?

  • Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Others
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Practitioners
  • Tax Pros

Testimonial

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