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Guide to Calculating S Corporation Stock Basis and Creating and Maintaining Basis Worksheets (CSSB)

Thursday, January 26, 2017
01:00 PM - 03:00 PM (Eastern)

Mike Tucker, Ph.D., LL.M., J.D., CPA

Bob Lickwar, CPA

  • Format Webinar
  • Credits 2
  • Level Intermediate
  • Field of Study Taxes (2)

Overview

This program discusses, in a practical way, how an S corporation shareholder calculates his or her stock and loan basis. This topic is particularly important when an S corporation has a loss and the shareholders wish to know whether they are entitled to fully utilize the loss that has been allocated to them against their other income.

Major Topics:

  • How to determine S corporation shareholder stock and loan basis
  • The positive and negative basis adjustments S corporation shareholders make--and the order in which they are made
  • The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses
  • Shareholder loan basis rules

Learning Objectives

  • How to calculate an S corporation shareholder's basis in his or her S corporation shares
  • Understand and apply the S corporation shareholder loan basis rules

Who should take this course:

Any tax practitioner with S corporations or S corporation shareholders as clients

Basic understanding of tax rules relating to S corporations and S corporation shareholders

None

Yes

No

No

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