November 16, 2023


8 Total CPE Credits


Webinar (CA): S Corporation Taxation: Comprehensive—Form 1120S 2023

  • Instructor

    Troy Lewis

Learning Objectives

• Identify how to form a qualified entity and elect S corporation status
• Determine how to properly allocate income and loss items to shareholders on their individual Schedule K-1
• Calculate an S corporations' initial basis in its assets as well as a shareholder's stock and debt basis in the S corporation
• Recognize three main reasons for calculating a shareholder's basis in an S corporation and how to make annual adjustments to a shareholders' stock and debt basis
• Calculate AAA and OAA account for an S corporation under various scenarios

Major Topics

• Learn how to qualify and to make the S corporation election
• Determine how to calculate initial and annual stock and debt basis amounts and the three reasons why they are maintained
• Understand the four loss limitation rules applied on the shareholder's individual income tax return (i.e., basis, at-risk, passive, and excess business loss limitations)
• Understand the proper tax treatment and reporting of a distribution from the S corporation to a shareholder
• Determine how to calculate AAA and OAA account for an S corporation as well as the 3 potential taxes
• Determine the impact of health insurance, the net investment income tax, qualified business income tax deduction and unreasonable compensation issues on the reporting function of the S corporation

CPE Credits Available

Total CPE

Things to Know About This Course

Course Level

  • Intermediate


General knowledge in individual and S corporation income taxation.

Advanced Preparation

This webinar is produced by CalCPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Intended Audience

Tax professionals, CPAs, accountants, and other financial professionals looking to expand and update their understanding and knowledge.


California CPA Education Foundation

Register For This Event

  • COCPA Member

    $ 299 299
  • COCPA Non-Member

    $ 399 399
    Your Price

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