1120-S Preparation and Planning 3: Schedule K (2023 Edition)

Author: Barbara Weltman, Sidney Kess, Greg White

CPE Credit:  1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC

In this self-study course, you’ll continue learning how to prepare the S corporation income tax return. Specifically, this course provides details on the income and deductions that should be reported in Schedule K.

Publication Date: September 2022

Designed For
Tax practitioners.

Topics Covered

  • Income Items
  • Deduction Items
  • Credits and International Transactions
  • AMT and basis items
  • Schedule K-2

Learning Objectives

  • Identify income items subject to pass-through treatment and separately stated income items
  • Identify tax credits and credit recapture subject to passthrough treatment
  • Recognize how to report items affecting shareholder basis
  • Recognize how to successfully complete Schedule K
  • Recognize how to successfully complete Schedule K-2
  • Identify the schedule that is a summary schedule of all shareholders' shares of corporate items that have international relevance
  • Identify the line that is used to report net long-term gains and losses
  • Identify the part of Schedule K-2 that is for distributions from foreign corporations to the S corporation

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
None

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $53.00

">
 Chat — Books Support