Intermediate S Corps: Shareholder Loss Limitations



Course Year: 2013
Course Level: Intermediate
Prerequisite: NATP's Preparing S Corporation Returns course of basic knowledge of Form 1120S preparation
Advance Preparation: None
Delivery Method: Self-Study

Note: This course is also included in the Intermediate S Corporations course .

CPE Credits Designation Field of Study
IRS * 3 EA Federal Tax Law Topic
CTEC 3 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: $50 for Members and $60 for Nonmembers


We know that losses that flow through to S corporation shareholders are limited by the shareholder’s basis. But it’s much more complex than this. There are three different kinds of basis – stock, debt and at-risk. Learn how to compute each of these and how they relate to one another. Also determine how basis is affected by a suspended passive loss. Find out how to track debt basis when a shareholder simultaneously has loans payable and receivable. Really dig into the intricate rules surrounding shareholder basis and loss limitations.

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

  • Calculate a shareholder’s stock, debt and at-risk basis.
  • Distinguish between basis for regular tax and AMT purposes.
  • Determine the timing and ordering rules for basis adjustments.
  • Identify how current year income is applied against loss carryovers.
  • Report the repayment of reduced-basis debt.

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

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

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