S Corporation Liquidations Self-Study
Summary
An S corporation may decide to liquidate for various reasons. For example, it could be going out of business because the corporation has had losses for years, or maybe business was good, so the S corporation is selling all its business assets and closing the corporation. Either way, tax professionals should know how to handle an S corporation liquidation, so they can explain all the tax consequences and reporting requirements to their clients. This course utilizes a case study throughout the course to examine the key tax issues regarding S corporation liquidations.
Objectives
Upon completion of this course, you will be able to:
- Determine the date of liquidation
- Explain how the S corporation and its shareholders are taxed in a liquidation
- Summarize the reporting requirements when an S corporation liquidates
- Prepare a final Form 1120-S, U.S. Income Tax Return for an S Corporation
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.
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