- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
Form 1120S - Pro Rata Share Items
Upon successful completion of Form 1120S - Pro Rata Share Items, the user should be able to:
recognize the various tax rules associated with pro rata allocation of tax items to S corporation shareholders; determine shareholder basis in S corporation stock or debt; and identify the items listed on Schedules K and K-1.