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2024 S Corporation Checkup: Key Tax Issues & Forms Reporting



4.00 Credits

Member Price $129.00

Non-Member Price $159.00


A detailed analysis of the calculations related to determining a shareholder's tax basis for S corporation shares and loans. How to use the Form 1120S, Schedule K-1 information for basis determination, as well as an update on Schedules K-2 and K-3. An illustrative example demonstrates how the process works, as well as the many potential pitfalls.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to


  • Discuss the calculation of basis when the entity is formed including the impact of contributed property
  • Explain the importance of shareholder loans to the entity
  • Uses a comprehensive example to illustrate the mechanics of the basis determination process
  • Schedules K-2 and K-3
  • Discuss how basis is impacted by distributions of corporation property
  • Explain how basis is impacted by sale/or liquidation of the S corporation interest
  • S corporation losses and how they impact Form 1040 Schedule E reporting
  • Show how to get from the Schedule K-1 information to the basis calculation


Basic working knowledge of S corporation taxation

Designed For

CPAs working in public accounting firms and/or working for an S corporation


  • Apply recent legislative development impacting S corporations and their shareholders
  • Identify the tax issues related to S corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation



Non-Member Price $159.00

Member Price $129.00