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S Corporation Checkup: Key Tax Issues & Forms Reporting

Total Credits: 4 including 4 Taxes - Technical

Average Rating:
ACPEN Tax Institute |  Tax |  IRS Approved
Steven C. Dilley, CPA, JD, PhD
Course Levels:
4 Hours
Product Setting: Expires 30 day(s) after program date.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


A detailed analysis of the calculations related to determining a shareholder's tax basis for S corporation shares and loans. How to use the Form 1120S, Schedule K-1 information for basis determination, as well as an update on Schedules K-2 and K-3. An illustrative example demonstrates how the process works, as well as the many potential pitfalls.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to

Basic Course Information

Major Subjects
  • Discuss the calculation of basis when the entity is formed including the impact of contributed property
  • Explain the importance of shareholder loans to the entity
  • Schedules K-2 and K-3
  • S corporation losses and how they impact Form 1040 Schedule E reporting
  • Show how to get from the Schedule K-1 information to the basis calculations
  • Comprehensive example to illustrate the mechanics of the basis determination process

Learning Objectives
  • Apply recent legislative development impacting S corporations and their shareholders
  • Identify the tax issues related to S corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation

Course Materials


Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related Seminars and Products

Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.


Sat, Mar 02, 2024 - 12:00pm to 03:41pm CST
Tue, Mar 12, 2024 - 02:00pm to 05:41pm CDT
Mon, Mar 25, 2024 - 08:00am to 11:41am CDT
Thu, Apr 04, 2024 - 10:00am to 01:41pm CDT
Tue, Apr 16, 2024 - 12:00pm to 03:41pm CDT
Thu, Apr 25, 2024 - 02:00pm to 05:41pm CDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of S corporation taxation
Advanced Preparation


Designed For CPAs working in public accounting firms and/or working for an S corporation
Original Recording Date 05/2023
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 02/09/2023

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.



Overall:      4.5

Total Reviews: 27


Tammy G

"Thank you"

Rosanna H

"Great presentation!"

Richard G

"A very good and clear presentation on the topic"