S Corporation Stock and Asset Purchases and Sales: Tax Consequences

Authored by James Hamill
About this Course
Topics covered include: Character of Income; Purchase Price Allocations; Personal Goodwill; Built-in Gain Tax; Liquidation Basics; Installment Sale Issues; Shareholder Installment Reporting; Section 1411 Net Investment; Income Tax; Taxable Sale of Stock; Sec. 1411 Net Investment Income Tax; Taxable Stock Purchase; S Corp Buyer; Taxable Stock Purchase; C Corp Buyer; 338(h)(10) Elections; Non-selling Shareholder Section 336(e) Elections. Upon completion of this course, you should be able to: Recognize the tax consequences to the corporation and its shareholders of a sale of assets or of stock; Identify the effects of Section 338(h)(10) and Section 336(e) elections on all parties to a stock purchase; Differentiate issues related to taxable asset sales by S Corporations involves the use of Form 8594; Identify a corporate effect as it relates to liquidation basics; Recognize correct statements with respect to installment sales; Describe taxable sale of stock; Differentiate and describe correct statements regarding the Section 338(g) election; Identify characteristics of a Section 336(e) election; Recognize when the personal goodwill argument is best established; Identify a shareholder effect as it relates to liquidation basics; Describe who the income is reported by if the distribution of an installment obligation in liquidation of an S corporation is taxable.
$ 80.00
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NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic understanding of federal taxation of passthrough entities.
Last Updated
02/01/2018
12529