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Basic Fundamentals for S Corp Shareholders & Form 7203

Finally, master stock and debt basis for S corporation shareholders! For S Corp tax preparers and Individual preparers filing Form 7203. Track initial contributions, loans to the S corp, shareholder loans from the S corp, plus all the characteristics of income and expense transactions that affect basis. See how new incoming or exiting shareholders' accounts are handled plus basis when an entity closes or distributes assets. Specific examples and excel worksheets for tracking basis and carry over losses and deductions.

Objectives

Upon completion of the session, the learner will be able to:

• Understand how basis is calculated
• Identify the different aspects of investments and contributions which affect basis
• Determine basis for incoming and existing shareholders
• Calculate accurate basis for federal and states purposes
• Use Form 7203 andreview basis related to shareholders’ individual taxes

Details

Jane Ryder, EA, CPA

Instructor:

Level:

Update

Prerequisites:

To Be Announced

Advanced Preparation:

None

Delivery Method: 

Group Live

CPE credits     Designation     Field of study

IRS

AFSP

To Be Announced

IRS

EA

To Be Announced

NASBA

CPA

To Be Announced

CTEC

CRTP

To Be Announced

CFP Board

CFP®

How to Earn CPE

Sessions are first come, first served. Registration is not required for individual sessions. To earn CPE, scan your badge on your way into each session. You do not need to scan on your way out. CPAs will receive an additional form at registration to self-report their time out. We strictly abide by the IRS’ CPE rules and turn badge scanners off ten minutes after each session begins. We cannot award CPE if your badge isn’t scanned.