Calculating S Corp Stock and Debt Basis: Avoiding Loss Limitations and Excess Distributions
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax professionals and advisers with the tools and understanding to correctly calculate S corporation shareholders' stock and debt basis and advise clients to avoid adverse tax consequences due to loss limitations or excess distributions.
Outline
- Mechanics of calculating stock basis
- Items that increase stock basis
- Items that decrease stock basis
- Ordering rules
- Tracking basis against distributions to avoid current double taxation
- Preparing Form 7203
- Loss limitation rules
- Debt basis rules and calculations
- Basis strategies for end of business
Benefits
The panel will review these and other key issues:
- Calculating and maintaining accurate S corp stock and debt basis
- Understanding basis items specific to S corporations
- Applying loss limitation rules
- Preparing form Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
- Calculating basis with a view toward sale, liquidation, or redemption
Faculty
Robert S. Barnett, JD, MS (Taxation), CPA
Partner
Capell Barnett Matalon & Schoenfeld
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and... | Read More
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning. His experience includes surrogate’s court practice, tax dispute resolution in both federal and state jurisdictions, and tax court representation. Mr. Barnett frequently assists clients in structuring financial transactions and charitable gifts. His articles and lectures encompass a wide variety of topics, including business succession, estate planning, generation-skipping, stock options, effective strategies for removing tax liens, proper utilization of the marital deduction and utilization of partnership elections.
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Rene Schaefer, CPA, MST
Principal
Clark Nuber
Ms. Schaefer is a principal in Clark Nuber’s tax group, she works closely with her clients to develop creative... | Read More
Ms. Schaefer is a principal in Clark Nuber’s tax group, she works closely with her clients to develop creative tax strategies for many types of businesses; especially with manufacturing, distribution, construction and professional service companies. Ms. Schaefer has more than 30 years of experience working with both private and public companies, she has the proven expertise to help clients grow and succeed. Prior to joining Clark Nuber, Ms. Schaefer worked with SVA Certified Public Accountants, S.C. for 16 years.
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