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S Corporations: How to Calculate Shareholder Basis
Total Credits: 2 including 2 Taxes - Technical
- Average Rating:
- Not yet rated
- Categories:
- ACPEN Tax Institute | IRS Approved | Tax
- Speaker:
- Steven C. Dilley, CPA, JD, PhD
- Course Levels:
- Intermediate
- Duration:
- 2 Hours
- Product Type:
- Live Webcast Replay
- License:
- Expires 30 day(s) after program date.
Description
A detailed analysis of the calculations related to determining a shareholder's tax basis for S corporation shares and loans, with a focus on how to use Form 1120S, Schedule K-1 information for basis determination. An illustrative example demonstrates how the process works, as well as the many potential pitfalls.
*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 kori.herrera@acpen.com
Basic Course Information
Major Subjects- Discuss the calculation of basis when the entity is formed including the impact of contributed property
- Explain the importance of shareholder loans to the entity
- Uses a comprehensive example to illustrate the mechanics of the basis determination process
- Discuss how basis is impacted by distributions of corporation property and sale/or liquidation of the S corporation interest
- Explain how S corporation losses impact Form 1040 Schedule E reporting
- Show how to get from the Schedule K-1 information to the basis calculations
Learning Objectives
- Identify the tax issues related to S corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation
- Identify planning opportunities and potential pitfalls
Course Materials
| IMPORTANT_CPE Credit Instructions_Read Before Webcast_Updated_2_2025 (442.6 KB) | Available after Purchase | ||
| S Corporations: How to Calculate Shareholder Basis Handout (8.1 MB) | Available after Purchase | ||
| IRS Credit Instructions (267 KB) | Available after Purchase | ||
Speaker
Steven C. Dilley, CPA, JD, PhD Related Seminars and Products
Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Dates
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Thu, May 08, 2025 - 10:00am to 11:55am CDT
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Wed, May 28, 2025 - 12:00pm to 01:55pm CDT
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Wed, Jun 04, 2025 - 02:00pm to 03:55pm CDT
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Sat, Jun 14, 2025 - 04:00pm to 05:55pm CDT
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Mon, Jun 30, 2025 - 08:00am to 09:55am CDT
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Tue, Jul 08, 2025 - 06:00pm to 07:55pm CDT
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Fri, Jul 25, 2025 - 12:00pm to 01:55pm CDT
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Thu, Aug 07, 2025 - 02:00pm to 03:55pm CDT
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Tue, Aug 26, 2025 - 04:00pm to 05:55pm CDT
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Tue, Sep 09, 2025 - 08:00am to 09:55am CDT
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Mon, Sep 22, 2025 - 10:00am to 11:55am CDT
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Wed, Oct 08, 2025 - 12:00pm to 01:55pm CDT
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Thu, Oct 23, 2025 - 02:00pm to 03:55pm CDT
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Tue, Nov 04, 2025 - 06:00pm to 07:55pm CST
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Wed, Nov 19, 2025 - 08:00am to 09:55am CST
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Tue, Dec 09, 2025 - 10:00am to 11:55am CST
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Sat, Dec 20, 2025 - 12:00pm to 01:55pm CST
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Fri, Dec 26, 2025 - 02:00pm to 03:55pm CST
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Thu, Jan 08, 2026 - 04:00pm to 05:55pm CST
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Fri, Jan 23, 2026 - 08:00am to 09:55am CST
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Wed, Feb 04, 2026 - 10:00am to 11:55am CST
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Thu, Feb 19, 2026 - 12:00pm to 01:55pm CST
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Thu, Mar 05, 2026 - 02:00pm to 03:55pm CST
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Sat, Mar 28, 2026 - 04:00pm to 05:55pm CDT
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Wed, Apr 08, 2026 - 08:00am to 09:55am CDT
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Tue, Apr 21, 2026 - 06:00pm to 07:55pm CDT
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Additional Info
Basic Course Information
Prerequisites Basic working knowledge of business and S corporation taxationAdvanced Preparation
None
Designed For CPAs working in public accounting firms and/or working for S corporations
Original Recording Date 04/2025
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 03/11/2025
Additional Information
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).Official Registry Statement Business Professionals' Network, Inc. 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: www.nasbaregistry.org
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.