Debt Basis vs Stock Basis: Back-to-Back Loans, Open-Account Debt, Guarantees & Form 7203
This course reviews accurate reporting, correcting, and reconstructing S corp shareholder basis. Review these and other critical basis miscalculations and how to fix them. See how incoming or exiting shareholders' accounts are handled plus basis issues when an entity closes or distributes assets. And don't forget federal and state basis differences. We'll also discuss two very common matters affecting S corp shareholder historical basis related to some prior year COVID benefits reported on the entity tax returns. These entity reporting errors may cause basis to be understated, often by substantial amounts.
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*Self-Study recording not available for NASBA CPE credit.
NASBA Field of Study: Taxes
IRS Program #: 7Q3WU-T-
CTEC Course #: 6248-CE-
Jane Ryder
,
EA, CPA
Jane Ryder, EA, CPA is a national speaker on many accounting, tax, and business compliance topics. She runs her CPA firm, Brass Tax Ryder Professional Group, Inc.in San Diego, California. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980.Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S corporations, LLCs, Partnerships, and Trusts. She also specializes in IRS and state agencies collections, audit appeals, offers in compromise, and other compliance related matters.
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