Vermont Society of Certified Public Accountants
Cart: 0 items

Courses

Surgent's Guide to Calculating S Corporation Shareholder Stock and Loan Basis - On-Demand Webcast

« View All Courses

Register

Member Price: $89.00
Non-Member Price: $119.00

view cart

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 new 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
back to list