About this Course
Topics covered include:
Review S corporation income tax return preparation;
Introduces Form 1120S;
List items of income, deductions, credits, and other items from the operation of an S Corporation.
Upon completing this course, you should be able to:
Accurately prepare tax returns for S corporations;
Describe how recent legislation, court decisions and revenue rulings impact the preparation of Form 1120S;
Identify planning opportunities and avoid problems when preparing the Form 1120S;
Answer client questions regarding the preparation of returns for S corporations with accuracy and confidence;
Describe the nature of the return for S corporations;
State when the return is due and how to obtain a filing extension;
Cite the requirements for S corporation status and how to make an S corporation election;
Complete the top of page 1 of Form 1120S;
Apply the accounting method and tax year limitations for S corporations;
Complete Schedule B, page 2 of Form 1120S.