Shareholder Basis 1 Credit
Learning mode
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 :
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.
| License details | Credits | Status |
|---|---|---|
| SHRM-Senior Certified Professional (SHRM-SCP) | 1 PDC | Approved |
Credit
1
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC, is approved (Provider Number – RP5359) by the Society for Human Resource Management (SHRM) to offer Professional Development Credits (PDCs) for the SHRM Certification Program (SHRM-CP or SHRM-SCP). For more information about SHRM certification or recertification, please visit www.shrmcertification.org.
Susan Tinel is an Enrolled Agent with over 15 years of experience working with small- and medium-sized businesses and individuals. Susan heads up April 15 Taxes, Inc., a full-service, cloud-based firm offering services in tax, accounting and entity filings. Based in San Diego, she works with more than 150 clients across the country, in Canada and the United Kingdom, 75 percent of which are small businesses. She is a QuickBooks ProAdvisor, advanced certified in QuickBooks Online. Ms. Tinel provides
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• Offering complete cloud solutions to small businesses
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JC
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TM
Questions are really poorly written.
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