PSCO
SURGENT McCOY'S PRACTICAL GUIDE TO PREPARING S CORPORATION FEDERAL TAX
RETURNS
S Corporations remain the most popular business entity. This course takes the practitioner through the maze of problems that are confronted in preparing the Form 1120-S and accompanying schedules.
Major topics include:
- Line-by-line analysis of the Form 1120-S
- Distinguishing between bottom-line income or loss and separately stated items of income and loss
- Corporate-level taxes (built-in gains and passive-investment income)
- Accumulated adjustments account calculations Tax and at-risk basis issues
- Allocation of tax items on the new Schedule K-1
- Methods-of-accounting issues, accounting-period issues, and varying interests of investors during the reporting period
- Distributions
- Completely filled-in forms for case studies
- Practical compliance tips and planning issues
Designed for: All levels of staff and company controllers responsible for filing these forms.
Level of knowledge: Basic
Field of study: Taxation
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