Table of Contents.

Description:

Use this comprehensive textbook to add the preparation of S corporation returns to your business, or to simply get up to speed on the most pertinent areas of S corporation taxation. Learn to accurately prepare Form 1120S, U.S. Income Tax Return for an S Corporation, and the schedules that accompany it.

Preparing S Corporation Returns covers:

• The advantages and disadvantages of forming an S corporation.
• Types of businesses eligible to make the S election.
• Making an S election, including a late election.
• Choosing a tax year and accounting method for an S corporation.
• Completing a basic Form 1120S, including Schedules K, K-1, L, M-1 and M-2.
• Identifying income and expense items that differ for book and tax purposes.
• Determining the amounts to pass-through and allocate to each shareholder.
• Identifying separately stated items.
• The §179 expense rules for S corporations.

Product Details:

Level: Basic level

Author: NATP Staff

Publisher: NATP

Publication Date: 2018

Format: Print

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Corresponding CPE Courses:

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Preparing S Corporation Returns Self-Study Course.