Reviewing S Corporation Tax Returns: What Are You Missing?

A case-based approach to learning about the common errors practitioners make on S corporation tax returns.

Learning Objectives:

- Identify the accounts that affect the accumulated adjustments account.

- Identify which items go on page 1 of Form 1120-S and which go on Schedule K.

- Determine how capital gains and losses are disclosed on Form 1120-S.

- Determine how wash sales and installment sales are treated by S corporations.

- Determine the tax consequences when a newly converted S corporation sells appreciated property it acquired while operating as a C corporation.

- Determine the tax consequences associated with the distribution of appreciated property by an S corporation to a shareholder in redemption of stock.

Who will benefit:

- CPAs

- managers and partners responsible for reviewing returns

This is an AICPA hosted webcast. You will launch the course from your OSCPA learning center portal. AICPA will issue and maintain your credits. Please make sure to download your CPE certificate from AICPA webcast portal at the conclusion of the webcast.