Form 7203 and S Corporation Basis

Program Overview

July 12 2023| 5:30 pm - 9:20 pm, Pacific |In person

Hosted by Inland Empire

Speaker   Linda Dong, EA

Description

Form 7203 is now required for 1040 forms that include a K-1 from an S corporation. In this course, we will go over the requirements for Form 7203 and the steps for filling out the form. We will cover how to calculate stock basis and loan basis for an S corporation, what the basis ordering rules are, and how to report losses limited by basis. Finally, we'll follow a comprehensive example using a K-1 from an S corporation to prepare the 7203 and then report it on the 1040.

  Learning Objectives

1)  Understand the importance of tracking S corporation basis
2)  Calculate stock and debt basis
3)  Determine the beginning stock basis
4)  Correctly prepare Form 7203
5)   Enter the correct amounts on form 1040

Learning Level    Basic


Prerequisites & Advance Preparation
    None

Continuing Education

IRS:  2 hours Federal Tax Topics   |   CTEC:  2 hours Federal Tax Topics   |   CA Bar:  1.75 hours Taxation Law  |  CPA CA:   2 hours Taxes

  Pricing

Member: $40 | Non-Member: $55

In-Person Details

DoubleTree by Hilton Hotel San Bernardino
285 E Hospitality Ln, San Bernardino, CA 92408
(Registration at the door is permitted but meals will be limited to availability if not pre-registered)

Agenda

  • 5:30 - 6:00 PM: Meet & greet
  • 6:00 - 7:00 PM: Dinner (plated dinner including dessert; attendees may request vegetarian entrée).
  • 7:00 - 9:00 PM: Presentation 

Cancellation/Refund Policies

Please contact the host Chapter at inland@csea.org for refund/cancellation policies related to this event.

When
7/12/2023 5:30 PM - 9:00 PM
Where
DoubleTree by Hilton Hotel San Bernardino 285 East Hospitality Ln San Bernardino, CA 92408