S Corporation Essentials: Stock & Loan Basis Reporting

Overview

This program addresses the critical issues and special opportunities facing S-corporations, with a focus on reporting shareholder basis and distributions. 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Objectives

• Apply the latest tax rules and regulations of S-corporations
• Identify shareholder basis and how to report it
• Identify planning opportunities and potential pitfalls when preparing S corporation client returns

Highlights

• Basis of stock and debt
• Form 1040, Schedule E
• Shareholder basis of indebtedness
• Limitation of deduction of losses
• AAA and distributions