Understanding S Corporation Loss Limitations - Debt Basis (On-Demand Webinar)
Provider: CeriFi Checkpoint Learning
Taxes
1 CPE Credits
Basic
QAS self study
IRS EA Federal Taxation
In this on-demand webinar, Ian Redpath explores S corporation shareholder debt basis. He reviews the requirements for bona fide indebtedness, the risks of debt reclassification as equity leading to a prohibited second class of stock, and the use of safe harbor debt to preserve the S election. He also addresses open account debt rules, the ordering of basis adjustments, and the situations that require filing Form 7203.