Preparing S Corporation Returns Self-Study


Tax professionals who are familiar with individual tax returns can find preparation of their first S corporation tax return daunting. This course is for tax professionals adding the preparation of S corporation returns to their business. Take this course to receive the knowledge necessary to accurately prepare Form 1120S, U.S. Income Tax Return for an S Corporation, and the schedules that accompany this form. This course guides you through the preparation of Form 1120S in an example.


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

  • List 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 K, K-1, L, M-1 and M-2
  • Identify income and expense items that differ for book and tax purposes
  • Determine amounts to pass through and allocate to each shareholder
  • Identify separately stated items for Schedule K-1
  • Summarize the §179 expense rules for S corporations

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.


Presented by:

How to Earn CPE

To receive credit for this self-study course, you must successfully pass the course exam with a score of 70% or better.

Self-study courses and exams generally expire one year from the date of purchase. The AFTR course expires on December 31 of each year as required by the IRS.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.

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