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S Corp Preparing Form 7203 & S Corp Basis

Includes a Live Web Event on 01/01/2030 at 12:00 PM (EST)

  • Registration Closed

The course will review the latest filing compliance for Form 7203, required for most individuals receiving an S Corp K-1. The course will review the preparation of this form plus how to calculate stock basis, loan basis, the basis ordering rules, plus reporting carryover S Corp losses and other deductions limited by basis. Also, there are potential basis adjustments needed related to COVID benefits; ERTC & PPP Loans.

Objectives: 

1. Discuss the latest filing requirements for Form 7203 and errors on the 2022 form.
2. Explain how to prepare Form 7203 and specific instructions for each section.
3. Explain sample Form 7203 with detailed calculations for stock and loan basis.
4. Discuss  the tax preparer's obligations for filing the new Form 7203 for S Corp shareholders.
5. Explain other potential exposure issues with Form 7203 plus substantial possible COVID basis errors. 


NASBA CE: 2.0 Hours Federal Tax Law
IRS:  2.0 Hours Federal Tax Law
CTEC CE: 2.0 Hours Federal Tax Law
ACAT CE: 2.0 Hours Federal Tax Law

NSA Webinar Program Level: Basic
Prerequisites: None   
Advance Preparation: None   
Delivery Method: Group-Internet Based

No refunds or exchanges for cancellations. For more information regarding refund, complaint and/or program cancellation policies, please contact NSA toll-free at 800-966-6679.

NSA is approved by NASBA, the IRS, ACAT, and CTEC as a provider of continuing professional education.

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Jane Ryder, EA, CPA

CEO

Brass Tax Ryder

Jane Ryder, EA, CPA writes and speaks nationally on many tax, accounting, representation and tax compliance topics. Jane runs her San Diego, CA CPA firm, Brass Tax Ryder Professional Group, Inc., and has been providing tax and accounting services since 1980.  Brass Tax, (not affiliated with Brass Tax Presentations) also specializes in IRS and state agency audits, audit appeals, collections and other tax compliance related issues. 

Components visible upon registration.

NSA is approved by NASBA, the IRS, ACAT, and CTEC as a provider of continuing professional education.

The National Society of Accountants 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: https://www.nasbaregistry.org/.

NSA has been approved by the California Tax Education Council to offer the above courses to go towards the annual "continuing education" requirement imposed by the state of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone at (877) 850-2832, or on the Internet at www.ctec.com.