- NY Credits : 8.0
- TX Credits : 8.0
- CTEC Credits : Federal Tax Law - 8.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 8.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 8.0
Checkpoint Learning
Course Detail
This interactive self-study course discusses some of the transactions with share- holders that must be dealt with in relation to Form 1120S. Lesson 1 examines shareholder stock basis, including calculating initial basis and adjusting basis annually. Lesson 2 covers shareholder debt basis, including deducting losses against debt basis and reporting the repayment of reduced-basis shareholder debt. Finally, Lesson 3 discusses issues related to distributions, such as determining the accumulated earnings and profits (AE&P) balance and making distributions from S corporations both with and without AE&P.
Course Expiration Date: December 31, 2021
Please note, the grading fee for answer sheets submitted by regular mail is $119.