Description:

This book is for preparing 2024 taxes. Stock ownership in an S corporation changes throughout the year upon a disposition of the shareholder’s stock. This generally occurs when shareholders sell or gift their stock to someone else; however, it also happens when a shareholder dies or the S corporation redeems its stock from one of the shareholders. It’s important tax professionals understand how to report a change in stock ownership, allocate pass-through items in the year of change, and determine the potential tax effects to the S corporation and its shareholders. This course analyzes the tax consequences when stock ownership in an S corporation changes.

Topics include:

• Explaining how shareholders are taxed on the sale of their S corporation stock
  
• Summarizing the tax consequences of an S corporation stock redemption
  
• Explaining how S corporations allocate pass-through items when stock ownership changes
  
• Recognizing when a change in stock ownership inadvertently terminates the S election
  

Product Details:

Item Number: 24383

Level: Intermediate

Authors: NATP Staff

Published: 2024

Format: Print - 44 pages

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Corresponding CPE Courses:

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