The major topics covered in this class include:
- Analyzes the calculation of basis when the entity is formed including the impact of contributed property
- Determine the importance of shareholder loans to the entity
- Uses a comprehensive example to illustrate the mechanics of the basis determination process
- Calculate how basis is impacted by distributions of corporation property
- Identify how basis is impacted by sale/or liquidation of the S corporation interest
- Determine how to get from the Schedule K-1 information to the basis calculations