Guide to Calculating S Corporation Shareholder Stock and Loan Basis (VIRTUAL SEMINAR)

Monday, August 29 10:00am - 11:40am

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Webinar

123 Webinar Way
Webinar, IA 00000

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2.00 Credits

Member Price $89.00

Non-Member Price $119.00

Overview

This seminar discusses, in a practical way, how an S corporation shareholder calculates their stock and loan basis on Form 7203. Form 7203 is the new IRS Form on which a shareholder is sometimes required to calculate their stock and loan basis. This topic is particularly important when an S corporation has a loss and the shareholders wish to know whether they are entitled to fully utilize the loss that has been allocated to them against their other income.

Highlights

  • Introduction to Form 7203
  • Introduction to the calculation of stock basis
  • Introduction to the calculation of loan basis
  • Taxable and nontaxable S corporation distributions to shareholders
  • The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses

Prerequisites

A basic understanding of the tax rules relating to partner basis and S corporation shareholder basis

Designed For

CPAs and other business professionals

Objectives

 

Notice

  • This seminar has been approved for 2 hours of IRS CE credit for Enrolled Agents (EA) and Registered Tax Return Preparers (RTRP) with PTIN numbers. Please complete and return the request form PRIOR to the seminar if you are an EA or RTRP and would like to receive IRS CE credit.
  • This seminar is only available via live webcast.

Leader(s):

Leader Bios

Arthur Auerbach

Arthur Auerbach, CPA, is a sole practitioner specializing in planning for individuals and closely held corporations. He is former chairman of the Federal Taxation Committee of the District of Columbia Institute of CPAs and serves as a member of that committee. He was also a member of the Board of Governors of the District of Columbia Institute of CPAs. Auerbach was formerly an editor for the Research Institute of America and a tax partner for a large regional CPA firm. His 38 years of experience also includes a position as an adjunct assistant professor at Pace University in New York where he taught intermediate and cost accounting. He has written many articles and is co-author of several books. He holds a B.B.A. from Pace University.

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Non-Member Price $119.00

Member Price $89.00