Chapter 10: S Corporations

In this section

• Eligibility Requirements, Elections & Terminations
  Explore S Corporation permissible shareholders, single-class stock requirements, election procedures, and common pitfalls leading to unintended terminations. Master the essentials for tax compliance and planning under the TCP CPA blueprint.
• Shareholder Basis, AAA, Debt Basis & Distributions
  Master essential S Corporation shareholder basis calculations, manage the Accumulated Adjustments Account (AAA) and debt basis intricacies, and learn to properly apply distribution ordering rules from AAA and E&P.
• Built-In Gains Tax & Historical C Corp E&P Integration
  A comprehensive guide to understanding the built-in gains tax, tracking recognized built-in gains, and integrating historical C corporation earnings and profits when transitioning to or operating as an S corporation.
• Ownership Changes & Mid-Year Allocations
  Explore how to handle partial-year ownership transitions in S corporations, focusing on daily vs. specific allocation methods and best practices for compliance.