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S Corporations: How to Calculate Shareholder Basis

  • 09/16/2021
  • 11:30 AM - 1:30 PM
  • Webinar - CPA Crossings

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This program provides a detailed analysis of the calculations related to determining a shareholder's tax basis for S corporation shares and loans, with a focus on how to use the Form 1120S, Schedule K-1 information for basis determination. An illustrative example will demonstrate how the process works. The many potential pitfalls will also be addressed.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:

  • After attending this presentation you will be able to...
    • Understand the tax issues related to S corporation owner's basis for shares and loans
    • Relate these issues to formation through operations and sale and/or liquidation
Program Content:

The major topics covered in this class include:

  • How to calculate basis when the entity is formed
  • Impact of contributed property
  • Explanation of the importance of shareholder loans to the entity
  • Comprehensive example of the mechanics of the basis determination process
  • How basis is impacted by distributions of corporation property
  • How basis is impacted by the sale/liquidation of S corporation interest
  • How S corporation losses impact Form 1040, Schedule E reporting
  • Illustration of how to get from the Schedule K-1 information to the basis calculation

Designed for: CPAs working in public accounting and/or working for an S Corporation.

Level: Intermediate

Instructor: Steven C. Dilley, CPA, JD, PhD

Developer: Federal Tax Workshops, Inc

CPE Credits: 2

Area of Study: Taxes

Prerequisite: Basic working knowledge of S corporation taxation.


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