Browse Taxation and Regulation (REG)
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- 9.1 Rights, Duties, and Liabilities of Debtors, Creditors, and Guarantors
- 9.2 Bankruptcy Basics and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
- 9.3 Secured and Unsecured Transactions under the Uniform Commercial Code (UCC)
- 9.4 Priorities, Perfection, and Enforcement of Security Interests
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- 14.1 Items Included in Gross Income (Wages, Dividends, Pensions)
- 14.2 Interest Income and Dividends (Taxable vs. Non-Taxable)
- 14.3 Capital Gains and Losses (Short-Term vs. Long-Term)
- 14.4 Exclusions (Gifts, Inheritances, Life Insurance Proceeds, Scholarships)
- 14.5 Kiddie Tax (Unearned Income of Minor Children)
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- 15.1 Adjustments to Arrive at Adjusted Gross Income (Self-Employed Expenses, IRAs, HSAs)
- 15.2 Itemized Deductions (Medical, Taxes, Interest, Charity, Casualty)
- 15.3 Tax Credits (Refundable vs. Nonrefundable)
- 15.4 Qualified Business Income Deduction (QBI)
- 15.5 Filing Status and Estimated Tax Payments
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- 19.1 Computation of Taxable Income and Tax Liability
- 19.2 Allowable Credits and Deductions
- 19.3 Capital Structure and Transactions Between Corporation and Shareholders
- 19.4 State and Local Tax Considerations, Nexus, Apportionment
- 19.5 Net Operating and Capital Losses (Carryback/Carryforward)
- 19.6 Consolidated Returns: Eligibility, Elections, and Intercompany Transactions
- 19.7 International Tax Concepts (Foreign Branch vs. Subsidiary, GILTI, FDII, BEAT)
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- 20.1 Ordinary Business Income (Loss) and Separately Stated Items
- 20.2 Eligibility and Election Requirements; Revocation and Termination
- 20.3 Shareholder Basis: Stock and Debt Adjustments
- 20.4 Built-In Gains Tax, Passive Investment Income, and AAA vs. E&P
- 20.5 Distributions (Liquidating vs. Nonliquidating)
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- 21.1 Ordinary Business Income (Loss) and Separately Stated Items
- 21.2 Partnership and Partner Elections (Tax Year, Basis Adjustments)
- 21.3 Partner’s Basis Computations, Recourse & Nonrecourse Debt
- 21.4 Transactions Between a Partner and Partnership (Services, Sales, Property)
- 21.5 Ownership Changes and Allocation of Liabilities
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- 31.1 Ethics, Professional Responsibilities, and Tax Procedures
- 31.2 Advanced Individual Tax Compliance and Planning
- 31.3 Entity Tax Compliance (C Corps, S Corps, Partnerships)
- 31.4 Entity Tax Planning (Formation, Liquidation, Restructuring)
- 31.5 Property Transactions, Nontaxable Exchanges, Depreciation Recapture
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Chapter 20: S Corporations
In this section
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Ordinary Business Income (Loss) and Separately Stated Items
Explore how S corporations handle ordinary income, separately stated items, Section 179 deductions, charitable contributions, and distributions, including real-life examples and best-practice strategies.
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S Corporation Eligibility, Election Requirements, Revocation, and Termination
Comprehensive coverage of S corporation eligibility and election procedures, avoidance of inadvertent terminations, and pathways to regain S corp status.
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Shareholder Basis: Stock and Debt Adjustments
Explore step-by-step basis adjustments for income, losses, distributions, and loan repayments in S corporations. Understand ordering rules, real-life examples, and best practices.
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Built-In Gains Tax, Passive Investment Income, and AAA vs. E&P
A comprehensive guide on the built-in gains tax, passive investment income rules, and navigating AAA vs. E&P balances in S corporations—all with practical insights and real-world examples.
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Distributions (Liquidating vs. Nonliquidating)
Explore how shareholders of S corporations manage stock basis in nonliquidating vs. final liquidating distributions, including practical examples, diagrams, and key strategies.
