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Shareholder Basis

4.5 (37)

Susan Tinel, EA

April 15 Taxes Inc

Friday, January 24, 2020 | 12:30 PM EDT

1 Credit


Subject Area


Upcoming Webinars

Course Description

It is very important to understand that why Basis in S Corporation Stock and Debt Is Vital to Utilization of Losses, Computation of Gain or Loss upon Disposition, and Distribution Taxability.Shareholder basis in the stock and debt of an S corporation is vital for three reasons: First, under Section 1366, a shareholder may only utilize losses to the extent of the basis in the stock and debt. In addition, when a shareholder sells stock, basis in the stock will help determine the gain or loss resulting from the sale. Lastly, the shareholder's basis in S corporation stock will, in part, determine the taxability of any distributions made by the corporation to the shareholder.

Highlights of the webinar : 

  • What comprises Shareholder basis for s-corporations 
  • Shareholder basis importance to the tax professional when preparing both the 1120S and shareholder’s 1040 tax returns.
  • Questions you need to ask the client and how to calculate it.

This webinar will help you with 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. 

Learning Objectives

  • Introduction to shareholder basis for sub-chapter S corporations
  • To know Importance of keeping track of shareholder basis
  • To learn about applications of shareholder & calculations to basis
  • To Recognize how to compute stock and debt basis
  • To describe which type of account an S Corporation needs to maintain to determine the taxability of an S corporate distributions

Who Should Attend?

  • Accounting Firm
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Attorney
  • Tax Firm
  • Tax Practitioners
  • Tax Pros
  • Young CPA


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