- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
This course takes a look at separately and nonseparately stated items that S corporation shareholders must take into account, pro rata share items, how losses and deductions affect a shareholder's basis, how to determine a shareholder's basis in stock or debt, and a line-by-line analysis of items reported on Schedules K and K-1.
This course is most appropriate for the professional with detailed knowledge in S corporation taxation who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Upon successful completion of this course, 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.