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Reconstructing Basis for Shareholders and Partners Webinar

Summary

Though it is the taxpayer’s responsibility to keep track of basis, it inevitably falls on the shoulders of the tax preparer to determine. If basis records are kept, it makes the tax preparer’s job easier. However, what happens when basis has not been tracked over the years? We’ll cover that situation in this webinar as we show you how to reconstruct basis for both an S corporation shareholder and a partner by reviewing prior year K-1 information. This course will provide you with the knowledge for understanding and completing the required Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations.

Objectives

Upon completion of this course, you will be able to:

  • Define how basis in a pass-through entity is first established
  • Describe how basis in a pass-through entity is affected by the activities of the entity and the shareholder or partner
  • Identity the differences in basis calculations for an S corporation shareholders and partners in a partnership
  • Reconstruct basis for an S corporation shareholder and partners in a partnership

Course Details

Subject matter experts will answer your questions during the presentation. We make every effort to answer as many questions as possible during the webinar but we may not be able to directly address every question.

This webinar includes the presentation slides, attendee top questions and access to the webinar recording.






   

Presented by: Jaye Tritz, EA, CFP(R)

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