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Subchapter S Corporation - Federal Tax Issues for the Shareholders

Course Price: N/A
CPE Credits
Advanced Preparation
Course Level
The participants should be familiar with the concept of a pass through entity of taxation as well as understand the general concepts of the individual income tax law as it effects the investment of the individual taxpayers.
Nina Tross MBA, EA
Course Description


IRS: Federal Tax Law Topics 2 CPE

CTEC: Tax Law 2 CPE

NASBA: Taxes 2 CPE

The pass-through attributes of the S Corporation are issued as both payroll and distributions to the shareholders of the S Corporation. The pass-through treatment of each of the business assets is also reported separately on the individual income tax returns. This course looks at the separately stated items of income, deduction, losses and credits as well as those that pass-through as the net income or loss of the business entity. Tax considerations such as basis, reasonable compensation, depreciable assets, and shareholder distributions will be reviewed.

Learning Objectives

At the completion of this session, the participants will be able 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 shareholder stock and debt basis, the distribution of capital, and the effect of the limitation of losses.


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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.

  • Once your registration confirmation is emailed, due to the proprietary materials and content of orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
  • materials and 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.
  • 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.
Testing Policy
  • require a test for CPE. 3 attempts are allowed.
  • You have 1 (one) year from date of purchase to complete the course by taking the test.
More Information For more information regarding refund, cancellation, and complaint policies, please contact our offices at 1(800) 367-8130.