Basis-S Corps & Partnerships
Manual & DVD PackageProduct Description
A complete discussion of basis for S corporation and partnership owners. We discuss why it is needed, how it is calculated, new Form 7203, ordering rules for income, losses and non-deductible items, the effects of PP loans and forgiveness on basis, and the special Sec. 754 step-up basis election.
**Course was published in 2022**
Prerequisites
1 year tax preparation experience.Field of Study
Taxes-2.00NASBA Categories
TaxesCourse Level
UpdateCourse Objectives
Upon completion of this course you should have a greater understanding of outside tax basis as compared to at-risk basis and how the differences affect a tax return. The course then undertakes a detailed analyses of S corp basis rules: increases, decreases, debt, losses in excess of basis and suspended basis loss, and includes special discussion of the effects of PPP loan forgiveness. The S corp chapter concludes with blank, user-friendly basis calculation schedules. The LLC/partnership basis chapter analyzes the differences in partnership vs. S corp basis, including debt basis and types of debt as well as the special 754 step up basis rules.
Available Options
Webinar
A scheduled, online course viewable on any computer or device with Zoom access; suitable for single person use. Webinars include: online course, eBook download, & PDF of PowerPoint slides. CPE credit will be issued based on log in time and percentage of polling questions answered.
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Seminar
A live event to be attended in person. Seminars include: printed book, eBook download, PDF of PowerPoint slides, light breakfast, lunch, & CPE credit.
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On Demand
An online, previously recorded course viewed at your convenience. The course is added to your TaxSpeaker account for instant access and includes: eBook, PDF of PowerPoint slides, downloadable course video, & (1) exam required for CPE credits.
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Ebook/DVD
A digital, downloadable PDF course manual & DVD package which includes: digital manual, DVD of course presentation, PDF of PowerPoint slides & (1) exam required for CPE credit. The DVD will be shipped to you and the manual/slides will be added to your TaxSpeaker account to download at your convenience.
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Manual/DVD
A physical, printed copy of our course manual and a course DVD. Included is: manual, DVD, PDF of PowerPoint slides, & (1) Exam required for CPE credit. The manual and DVD will be shipped to you; the slides will be added to your TaxSpeaker account to download at your convenience.
View ProductDisclaimer
This course must be completed by 12/31/25 in order for it to qualify for IRS credit.
TaxSpeaker offers a 100% 30-day money-back guarantee upon returning the self-study materials, to any paid participant in any self-study program if you are not happy with your purchase. No refunds will be issued after the exam has been attempted or completed.
Continuing Education
Jennings Advisory Group, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. NASBA Sponsor #108251
Jennings Advisory Group, LLC has entered into an agreement with the Return Preparer Office, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the Return Preparer office as to the quality of the program or its contribution to the professional competence of the enrolled individual. IRS Sponsor Number 5KBKR.
ALL OF OUR TAX COURSES HAVE IRS APPROVAL UNLESS OTHERWISE NOTED**
