June 8, 2022


2 Total CPE Credits


S Corporations: Allocation of Results

Learning Objectives

  • Determine the general approach of allocating the tax results of an S corporation to the shareholders.
  • Discuss the determination and consequence of "separately stated" items
  • Explain how stock sales affect the allocation of taxable income and the tax consequences of the stock sale.
  • Recognize the special allocation complications when new stock is issued or existing stock is redeemed.
  • Recognize the allocation and tax compliance complications presented when the S corporation election terminates mid-year.

Major Topics

  • The general approach to the allocation of S corporation tax results to the shareholders
  • Separately stated and non-separately stated items determination and consequences
  • Allocation complications and related tax consequences when the stock of the S corporation is sold
  • Special allocation rules when new stock is issued or outstanding stock is redeemed
  • Allocation of taxable income when the S Corporation election is terminated mid-year
  • Tax compliance responsibilities related to a mid-year termination of the S corporation status

CPE Credits Available

Total CPE

Things to Know About This Course


Understanding the basics of taxation of individuals, corporations, S corporations and partnerships.

Advanced Preparation


Intended Audience

CPAs and attorneys.


California Society of CPAs

This event has ended.