Description:

This book is for preparing 2024 taxes. An S corporation may decide to liquidate for various reasons. For example, it could be going out of business because the corporation has had losses for years, or maybe business was good, so the S corporation is selling all its business assets and closing the corporation. Either way, tax professionals should know how to handle an S corporation liquidation, so they can explain all the tax consequences and reporting requirements to their clients. This course utilizes a case study throughout the course to examine the key tax issues regarding S corporation liquidations.

Topics include:

• Determining the date of liquidation
• Explaining how the S corporation and its shareholders are taxed in a liquidation
• Summarizing the reporting requirements when an S corporation liquidates
• Preparing a final Form 1120-S, U.S. Income Tax Return for an S Corporation
  
  

Product Details:

Item Number: 24384

Level: Intermediate

Authors: NATP Staff

Published: 2024

Format: Print 

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2024 course.