Resolving Complicated Partnership and S Corporation Activity Self-Study


Enhance your tax business by expanding your knowledge of partnership and S corporation taxation. For partnerships, we will cover complicated activity such as guaranteed payments, making the §754 election, changes in partner ownership and hot assets. For S corporations we will cover reasonable compensation for shareholders, built-in-gains (BIG) tax and changes in shareholder ownership. For both partnerships and S corporations we will cover the basics of calculating and tracking a partner’s or shareholder’s basis along with its tax impact on distributions and losses. This course builds on our Basics of Business Entity Taxation course, by diving into items unique to partnerships and S corporations.


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

  • Calculate partner and shareholder basis
  • Recognize tax basis partner capital accounts
  • Identify when distributions to partners and shareholders are tax-free or taxable
  • Determine when pass-through losses are deductible
  • Summarize the difference between guaranteed payments for partners and reasonable compensation for shareholders
  • Identify when a §754 election can be made by the partnership and who it impacts
  • Identify hot assets
  • Recognize when built-in-gains (BIG) tax applies for S corporations
  • Summarize the tax impact of changes in ownership

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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