Courses

Surgent's Guide to Calculating S Corporation Shareholder Stock and Loan Basis

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Member Price: $99.00 Non-Member Price: $129.00

Date/Time:: Jan 17, 2025, 9:00am–11:00am
Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Taxes: 2.00
Fields of Study:: Taxes
Level:: Intermediate

This program discusses, in a practical way, how an S corporation shareholder calculates their stock and loan basis on Form 7203. Form 7203 is the IRS Form on which a shareholder is sometimes required to calculate their 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.

Objective

Calculate an S corporation shareholder's basis in his or her S corporation shares on Form 7203
Understand and apply the S corporation shareholder loan basis rules

Highlights

Introduction to Form 7203
Introduction to the calculation of stock basis
Introduction to the calculation of loan basis
Taxable and nontaxable S corporation distributions to shareholders
The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses

Designed For

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

Prerequisite

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

Advanced Preparation

None