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S Corporation Preparation, Basis Calculations & Distributions - Form 1120S Schedule K & K-1 Analysis

 Various
 
8.0
Registration is Open
Member Price
$300.00 Regular Registration
Your Price
$400.00 Regular Registration
This course is being offered on multiple dates, listed below. Click the Register button next to your preferred date to register.
 Tue, 06/10/2025 from 10:00 am to 5:39 pm
 Mon, 07/07/2025 from 10:00 am to 5:39 pm
 Tue, 07/08/2025 from 9:00 am to 4:39 pm
 Thu, 08/07/2025 from 10:00 am to 5:39 pm
 Tue, 09/09/2025 from 9:00 am to 4:39 pm
 Fri, 09/12/2025 from 10:00 am to 5:39 pm
 Tue, 10/07/2025 from 10:00 am to 5:39 pm
 Fri, 11/07/2025 from 10:00 am to 5:39 pm
 Tue, 11/11/2025 from 9:00 am to 4:39 pm
Designed For:

Tax professionals that need an in-depth training course on tax preparation issues, basis calculations and distributions rules for S-Corporations and their shareholders

Prerequisite:

Background in S corporation and individual income tax law

This comprehensive training is designed to get the accountant up to speed quickly with S corporation formation and preparation issues as well as a complete understanding of calculating a shareholder’s stock and debt basis. The cornerstone of this course is the in-depth line-by-line analysis of the Form 1120S Schedule K and K-1 and how these items affect the shareholder’s Federal individual income tax return.

**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 [email protected]

Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate

Sponsors

For Technical Support: 
Please contact the ACPEN Help Desk at (877) 602-9877, [email protected]   or visit https://vscpa.acpen.com/Support/. The Help Desk is available by phone 24/7, 365 days a year. Allow 1 business day for email

Objectives

  • Form a S corporation and calculate the corporation’s initial inside basis in the assets and shareholder’s stock and debt basis
  • Prepare a basic S corporation (Form 1120S) Schedule K & Schedule M-2 including the reporting of cash and non-cash distributions 
  • Understand how the schedule K items get allocated to the shareholders on their individual Schedule K-1
  • List the three main reasons for calculating a shareholder’s basis in a S corporation
  • Calculate a shareholder’s stock and debt basis and determine if losses and deductions are limited on their individual income tax return

Speakers

Advanced Preparation

Background in individual and business income tax law

Vendor

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.