Why does basis matter for a shareholder in an S Corporation? The ability of the shareholder to calculate deductions involving the corporation on a personal tax return is limited by the taxpayer’s basis in the corporation.
This webinar discusses how to properly document S corporation basis in order to support losses and deductions claimed on shareholder’s individual returns.
Learning Objectives
By the end this course, you will be able to:
- Calculate S corporation basis
- Identify the treatment of suspended limited losses and deductions
- Discuss the taxability of distributions
- Recall the consequences of shareholder loans
