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Guide to Calculating S Corporation Shareholder Stock and Loan Basis (CSSB)

Thursday, November 21, 2024
10:00 AM - 12:00 PM (Eastern)

Mike Tucker, Ph.D., LL.M., J.D., CPA

Bob Lickwar, CPA

  • Format Webinar
  • Credits 2.00
  • Level Intermediate
  • Field of Study Taxes (2)

$99.00


Overview

This program discusses, in a practical way, how an S corporation shareholder calculates their stock and loan basis on Form 7203. Form 7203 is the IRS Form on which a shareholder is sometimes required to calculate their stock and loan basis. This topic is particularly important when an S corporation has a loss and the shareholders wish to know whether they are entitled to fully utilize the loss that has been allocated to them against their other income.

Major Topics:

  • Introduction to Form 7203
  • Introduction to the calculation of stock basis
  • Introduction to the calculation of loan basis
  • Taxable and nontaxable S corporation distributions to shareholders
  • The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses

Learning Objectives

  • Calculate an S corporation shareholder's basis in his or her S corporation shares on Form 7203
  • Understand and apply the S corporation shareholder loan basis rules

Who should take this course:

Any tax practitioner with S corporations or S corporation shareholders as clients

Basic understanding of tax rules relating to S corporations and S corporation shareholders

None

Yes

No

No

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