Shareholder Loans and Basis

Description

Adv Bus Cert Program: Shareholder Loans and Basis – 2 CE Federal Tax
IRS Program #: X9QQU-T-01144-24-O
CTEC #: 6257-CE-0304
CE: 2 IRS and 2 CTEC credits
Speaker: David Woods, EA, USTCP

This program will discuss the code, regulations, and case law behind the determination and calculation of S-corporation shareholder loans and shareholder basis. Examples will be used to demonstrate the application of these rules as well as planning opportunities and concerns that a practitioner should be made aware of.

Learning Objectives:

Gain a working knowledge of calculating computer S-corporation shareholder basis in both stock and debt
Learn what qualifies as shareholder debt and what does not
Walk through examples on Form 7203
Understand and apply the ordering rules for basis
Identify the potential problems for distributions and loan repayments

Contributors

David Woods, EA

David Woods, EA is a licensed Enrolled Agent and NTPI Fellow. With nearly 25 years of tax preparation experience, David specializes in individual, partnership, corporate, fiduciary. taxation, and tax controversy. David graduated from Northeastern University with a master’s degree in taxation.