Preparing S Corporation Returns



Course Year: 2013
Course Level: Basic
Prerequisite: None
Advance Preparation: None
Delivery Method: Self-Study

CPE Credits Designation Field of Study
IRS * 8 EA Federal Tax Law Topic
CTEC 8 CRTP Federal Tax Law Topic
CFP Board 0 CFP® N/A


* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.


Fees: $104 for Members and $120 for Nonmembers


This hands-on workshop is designed for tax professionals who want to expand their tax practice by preparing S corporation returns. We’ll take a line-by-line look at Form 1120S and certain accompanying schedules. This course is ideal for individuals who have never prepared an S corporation return before or have very limited experience.

Upon completion of this course, the tax professional will be able to:

  • Explain the advantages and disadvantages of forming an S corporation.
  • Identify businesses eligible to make the S election.
  • Make an S election, including a late election.
  • Choose a tax year and accounting method for an S corporation.
  • Complete a basic Form 1120S, including Schedules L, M-1 and M-2.
  • Explain how and when to file Form 1120S.
  • Identify items that differ for tax and book purposes.
  • Prepare tax workpapers to support tax return entries.
  • Reconcile income from a clients’ books to income reported on Form 1120S.
  • Explain how pass-through items are allocated to a shareholder.
  • Identify separately-stated items.
  • Complete Schedules K and K-1.
  • Explain the §179 rules for S corporations.

For more information regarding refund, complaint and/or program cancellation policies, please contact our Member Services Department at 800.558.3402, ext. 3.

CPE Sponsor Information

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Email or Member ID:


PO Box 8002, Appleton, WI 54912-8002 Phone: 800.558.3402 Fax: 800.747.0001

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