Description
This program 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 

Objectives
- 

- Calculate an S corporation shareholder's basis in his or her S corporation shares on Form 7203 

- Understand and apply the S corporation shareholder loan basis rules 

Designed For
Any tax practitioner with S corporations or S corporation shareholders as clients
Registration for this course has passed.
Course Pricing
WYOCPA Member Fee
$99.00
Non-Member Fee
$129.00
Your Price
$129.00
Upcoming Courses
-
Surgent's Perplexing Financial and Economic Issues for the CFO/Controller
April 22, 2024
-
MBAexpress: Effective Change Management - V 2.0
April 22, 2024
-
Auditing Digital Assets, Part I
April 22, 2024
View all upcoming courses