Reviewing S Corporation Tax Returns: What Are You Missing? (4 hours)
Overview
A case-based approach to learning about the common errors practitioners make on S corporation tax returns.
Highlights
Prerequisites
Basic knowledge of S corporation income taxation
Designed For
Objectives
- Identify common mistakes made on S corporation tax returns.
- Determine strategies to avoid making mistakes on S corporation tax returns.
- Determine how transfers to corporations in exchange for stock can be nontaxable under IRC Section 351.
- Calculate the balance in an accumulated adjustments account and enter that calculation on Form 1120S, Schedule M-2.
- Determine how capital gains and losses are disclosed on Form 1120S.
- Identify and properly report cost recovery deductions on Form 1120S and the associated Schedule K-1s issued to shareholders.
- Determine the tax consequences when a newly converted S corporation sells appreciated property it acquired while operating as a C corporation.
- Determine the tax consequences associated with the distribution of appreciated property by an S corporation to a shareholder in redemption of stock.
Notice
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Non-Member Price $261.00
Member Price $213.00