Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
We’ll cover when clients can get ordinary losses on sales or worthless of S corp stock. We’ll discuss exit strategies for S corporation owners. We’ll take a deep dive into “land banks” – using S corporations to maximize capital gains on the sale of land that will later be developed.
Publication Date: June 2023
Designed For
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Topics Covered
- Exit strategies for S corp shareholders
- Taking ordinary losses on the disposition of S corp stock
- Perils of distributing appreciated assets from an S corporation
Learning Objectives
- Identify the requirements to take ordinary losses on the sale of S corporation stock
- Recognize how to apply a wide variety of exit strategies for S corporation shareholders
- Identify the K-1 "conformity" requirements that apply to shareholders
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.