Description:
This book is for preparing 2022 taxes. This book is geared towards tax professionals who prepare S corporation returns and have a basic understanding of S corporation taxation. Tax professionals may expand their expertise in S corporation returns by attending this course, which examines key topics such as reasonable compensation, built-in gains (BIG) tax, shareholder loss limitations, stock and debt basis, including Form 7203, and distributions. It finishes by analyzing the tax consequences when S corporations experience a change in shareholders or shut down the business altogether and liquidate the corporation.
Table of Contents
Topics include:
- Determining if an S corporation pays reasonable compensation to its shareholders
- Computing and reporting the BIG tax
- Calculating the shareholder’s stock and debt basis by completing Form 7203
- Summarizing the loss limitations that apply at the shareholder level
- Explaining how distributions from an S corporation are taxed
- Analyzing the tax effects when stock ownership changes
- Explaining the tax consequences when an S corporation liquidates
- Preparing a final Form 1120-S for the year of liquidation
Product Details:
Item Number: E22311
Level: Intermediate
Authors: NATP Staff
Published: 2022
Format: Electronic PDF - 240 Pages
Nonmembers – Join Now, Save More!
Corresponding CPE Courses:
Get this e-book FREE when you purchase the corresponding course.
Purchase Info:
When purchase is complete, you can obtain your product at My Downloads.
Electronic products are nonreturnable.