Preparing S Corporation Returns Self-Study


Tax professionals who are familiar with individual tax returns may find preparation of their first S corporation tax return to be daunting. This course is designed for tax professionals adding S corporation clients to their business. Take this course to receive the knowledge necessary to complete S corporation tax returns. This course guides tax professionals through Form 1120-S, U.S. Income Tax Return for an S Corporation, and the accompanying schedules, then wraps up everything with a comprehensive 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
  • Prepare Form 2553, Election by a Small Business Corporation, to make the S election
  • Choose a tax year and accounting method for an S corporation
  • Prepare a basic Form 1120-S, including Schedules K, K-1, L, M-1 and M-2
  • Summarize the unique fringe benefit rules for more-than-2% shareholders
  • List 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 reporting requirements for the qualified business income deduction
  • Analyze 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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