Tracking Partner & Shareholder (S corporation) Basis

Duration: 100 minutes
Course Level: Intermediate
Prerequisite: Basic knowledge of income taxation
Advanced Preparation: None
Delivery Method: Self-Study
CPE Credits Designation Field of Study
IRS * 2 EA Federal Tax Law Topic
CTEC 2 CRTP Federal Tax Law Topic
CFP Board 2 CFP® Income Tax Planning

* 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: $52 for Members and $64 for Nonmembers
Generally taxpayers who own an interest in a partnership or S corporation stock do not realize the tax complications pertaining to owning these interests. Partnerships and S corporations are flow thru entities that allow partners and shareholders to avoid double taxation like C corporations. However, partners and shareholders have a more complicated task when tracking the basis of the partnership interest or S corporation stock. Therefore, as a tax professional, an understanding of how to properly track the basis of the partnership interest or S corporation stock is very important. Properly tracking the basis will allow tax professionals to better serve their clients. Tax professionals who have clients who own partnership interests or S corporation stock shouldn’t miss this on-demand webinar!

Upon completion of this on-demand webinar, you will be able to:

  • Determine a taxpayer’s following loss limitations: stock, at-risk and passive.
  • Distinguish between debt basis for a partner and an S corporation shareholder.
  • Identify the ordering rules for distributions.
  • Document basis for regular and alternative minimum tax (AMT) purposes.
  • Elect that, for an S corporation, distributions come out of earnings and profits first.

Presenter: Jaye Tritz, EA, CFP®

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

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