October 1, 2025


Webinar


8 CPE

Hands-On Tax Return Workshop – S Corporations (Form 1120S)

October 1, 2025
Webinar
8 CPE

Hands-On Tax Return Workshop – S Corporations (Form 1120S)

  • Instructor

    J. Patrick
    Garverick

Learning Objectives

  • Prepare a complete Form 1120S income tax return and related schedules with minimal review points
  • Understand the S corporation income tax law from a tax-form perspective and become more knowledgeable with the information gathering process (i.e. asking the right questions)

Major Topics

  • Extensive review of the S corporation income tax laws with an emphasis on any new legislative
  • Schedule K analysis– determine if income statement items are separately (i.e. schedule K) or non-separately stated income and expense items
  • Discuss how schedule K items get allocated to shareholders on their schedule K-1s
  • Look at detailed Schedule K-1 information reporting to shareholders needed for the qualified business income (QBI) deduction, 3.8% net investment income tax and business interest expense limitations
  • Talk about the unreasonably low officer compensation issues
  • Learn the special tax treatment of fringe benefits paid to 2% shareholders and family members
  • Schedule M-1 – calculate the reconciliation of income or loss per books with income or loss per income tax return
  • Schedule M-2 – detailed step-by-step calculation of the AAA, PTI, E&P and OAA accounts
  • Basic overview of the tax treatment of distributions including when a S corporation has prior C corporation earnings and profits (E&P)
  • Review the importance and basics of calculating a shareholder’s stock and debt basis
  • Basic overview of the potential S corporation built in gains tax from the conversion of a C to S corporation

CPE Credits Available

8 CPE
8
Taxes

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Taxes

Advanced Preparation

None

Intended Audience

Tax return preparers, staff accountants, and paraprofessionals with little or no experience and out of practice public accountants seeking a basic tax return preparation course.

Provider

ACPEN

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    Price includes $0.00 early registration discount(s) - expires 9/21

    Price includes $0.00 early registration discount(s) - expires 9/21

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    Price includes $0.00 early registration discount(s) - expires 9/21

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