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Chapter S Corporation and 2023 Federal Tax Issues for the Shareholders

Your Course Price: $109.00
CPE Credits
Monday, November 27, 2023
Course Time
10:00am - 12:00pm PT
11:00am - 01:00pm MT
12:00pm - 02:00pm CT
01:00pm - 03:00pm ET
Advanced Preparation
Course Level
Nina Tross MBA, EA
Course Description

The Form 1120-S is unique because it provides for the pass-through of corporate income deduction, losses and credits. It also provides for the issuance of attributes of both payroll and distributions to the active shareholders of the S Corporation. The pass-through treatment of each of the business attributes is also reported separately on the individual income tax returns. Tax considerations such as stock basis, debt basis, reasonable compensation, depreciable assets, and shareholder distributions will be reviewed.

Learning Objectives

At the completion of this session, the participants will be better equipped to:

  • Understand the elements of preparing the Form 1120-S, U.S. Income Tax Return for an S Corporation;

  • Identify the elements of the Schedule K-1 (Form 1120-S) which reports the shareholder’s share of the corporation’s income, deductions, credits, etc.

  • Properly account for the individual shareholder’s stock basis and debt basis, the distribution of capital, and the effect basis has on the limitation of losses passed through to the shareholder’s on their Schedule K-1.


To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.

Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.

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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.

Your certificate will be emailed to you within 10 business days of the completion of the course.

Technical Information: Business Entity Series
Business Entity Series Registration
  • Each individual taking the live stream or webinar must register under their own name and unique email. The course link will be sent to the email of the registrant. One participant only per email.
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  • Before attending a Business Entity Series, YOU MUST review our System Requirements below and test your system. Please test on the device, browser, and network you will be using when attending a webinar.
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CPE: Pop-ups and Polling Questions
  • If you are a Dial-in user, you must ALSO have a screen to view and respond with, or you will not earn CPE.
  • Each participant must click on the pop-ups or answer the poll questions that appear on the screen during the live stream or webinar. Failure to do so will result in no CPE being awarded for that live-stream or webinar.
About Business Entity Series
  • Business Entity Series presentations are conducted online and are interactive visual and audio presentations.
  • There is no support to earn Business Entity Series CPE by listening on a phone only. Listening (without video) will not supply the required opportunity to click on pop-ups or polling questions.
Administration: Business Entity Series
Business Entity Series Refunds
  • Once your registration confirmation is emailed, due to the proprietary materials and content of each NSTP course, Business Entity Series orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
Business Entity Series Changes
  • Course changes are not available for Business Entity Series.
Business Entity Series Cancellation
  • NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is cancelled, participants will be transferred to another similar course or refunded 100% of their registration fee.
Business Entity Series Disclaimer
  • Business Entity Series materials and Business Entity Series presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
  • Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual’s reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials, and during the seminar presentation, before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
  • Business Entity Series materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
Business Entity Series Attendance Policy
  • Only paid registrants can attend seminars. In consideration of your fellow attendees, guests will need to depart before the session begins.
More Information For more information regarding refund, cancellation, and complaint policies, please contact our offices at 1(800) 367-8130.