Intermediate S Corporations Self-Study


This hands-on course is geared to tax professionals who have prepared S corporation returns and are looking to improve their skills and proficiency. This course furthers the knowledge of tax professionals who have a basic understanding of S corporation taxation. Topics covered include reasonable compensation, built-in gains tax, distributions and stock basis, qualified business income deduction, shareholder loss limitations, ownership changes and liquidation issues.


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

  • Recognize if an S corporation is paying a reasonable salary to its shareholder-employees
  • Identify corporations subject to built-in gains tax
  • Compute and report built-in gains tax
  • Calculate the shareholder’s S corporation stock basis
  • Determine the timing and ordering rules for basis adjustments
  • Explain how distributions from an S corporation are taxed
  • Describe the qualified business income deduction
  • Compare and contrast AAA, stock basis and retained earnings
  • Report the sale of S corporation stock
  • Determine how income and losses are allocated when there is an ownership change
  • Identify an inadvertent termination of the S election and summarize how to correct it
  • Prepare a final Form 1120S for the year of liquidation
  • Report S corporation post-liquidation expenses

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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