S Corporation Stock Basis

Duration: 120 Minutes
This session will concentrate on the transfer of flow-through items reported on the S corporation K-1 to shareholder returns, with an emphasis on the calculation of S corporation stock basis and loan basis. Included will be information on the impact of distributions and loan repayments on basis, the election to reverse the ordering rules and the differences between the stock basis ordering rules and the AAA ordering rules.
S Corporation Stock Basis
Instructor: Vicki L Mulak
Product ID: 507736
Objectives of the Presentation
  • To increase competency in using the IRC ordering rules to calculate stock basis
  • To understand the rules affecting shareholder loan basis
  • To recognize opportunity to make the election to reverse the ordering rules
  • To understand what a negative AAA account really means
  • To properly report a shareholder distribution that exceeds basis
  • To understand the relationship between the AAA and corporation retained earnings
Why Should you Attend
Attend this webinar to increase competency in preparation of tax returns for S corporation shareholders.

Areas Covered
  • Stock basis ordering rules: How to calculate using annual K-1s
  • Treating losses that exceed stock basis as suspended losses
  • Effect of carryover Sec 179 upon disposition of S corp stock
  • How to report a taxable shareholder loan repayment
  • How to report a taxable shareholder distribution
  • When to reverse the stock basis ordering rules using the 1.1367(g) election
  • How use of personal credit cards in the S corporation should be managed
  • How to manage unpaid shareholder loans at disposition
Who will Benefit
  • Enrolled Agents
  • CPAs
  • Attorneys
  • Other tax professionals
Topic Background
Attendee should have some background in S corporation and S corporation shareholder tax preparation.
$300
Recorded Session for one participant
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Recorded Session - How it works
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Vicki is an Enrolled Agent and Certified Financial Planner (CFP) and owner of American Financial and Tax, a tax preparation, planning and representation firm, which was founded in Tustin, California in 1985, when Vicki became both a resident and a business owner.

Vicki is a well-known presenter on federal and California tax law with audiences at continuing education events hosted by various practitioner organizations. She is also an author of numerous articles that have appeared in various practitioner journals.

In addition to her private practice, Vicki has served on two of the three California state tax agency advisory boards: The California Franchise Tax Board Advisory Board since 2010 - 2017 and the Employment Development Department's Small Business Employer's Advisory Committee since 1997. She has been honored with numerous awards for distinguished service in legislative advocacy and educational goals from the Enrolled Agent Associations, NAEA and CSEA.

She resides with her husband, George, in Tustin.
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