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Training for Business Professionals

Who Should Attend?

Tax professionals that need an in-depth training on how to prepare the S-Corporation Schedule M-2 and determine the tax ramifications of distributions


Area of Study:
Taxation


Level:
Intermediate


Credit:
2 hours

Prerequisite:
None


Advance Preparation:
Basic understanding of individual income taxation

Type:
Group Internet Based

  Schedule M-2 – How to Correctly Prepare the Accumulated Adjustments Account (AAA) and Determine the Tax Ramifications of S Corporation Distributions

This comprehensive training is designed to get the accountant up to speed quickly on how to prepare the S Corporation Schedule M-2 and determine the tax ramifications of distributions.


 Learning Objectives:
Once participants have completed this session they should be able to:
• Prepare the S Corporation Form 1120S Schedule M-2
• Determine if any S corporation distributions are taxable as dividends to the shareholders and know how to report them on the S Corporation tax return


Course Highlights:
• Schedule M-2 – detailed step-by-step analysis of the AAA, OAA and PTI accounts
• Look at the tax treatment of distributions when the S corporation has  prior C corporation earnings and profits (E&P) and how to report them on the Schedule K and K-1