The NEW Form 7203 and How to calculate Shareholder Basis

The NEW Form 7203 and How to calculate Shareholder Basis
$19.00 each

  • Credits:  2
  • Format: Interactive Self Study Video-
  • Field of Study:  Federal Tax Law
  • Author/Speaker: Mary Jane Hourani
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Available Formats:
Advanced Preparation:None
Experience Level:Overview
Program Prerequisites:General Understanding of Taxation
Course ID:EWTFM-T-01913-22-S | 6233-CE-0681 | MJH-429.23-SV
Published Date:Registered for 2023


Beginning with the tax year 2021, Form 7203 - S Corporation Shareholder Stock and Debt Basis Limitation, may be required to be filed with each shareholder's Individual Income Tax Return, Form 1040. This new form reports the shareholder's outside basis as well as debt basis so as to apply any loss limitations under I.R.C. 461 as well as at-risk limitations properly. This course will look at the mechanics of preparing the new Form 7203. Also discussed will be strategies of how to reconstruct shareholder basis when it has not been done in the past.

Learning Objectives:

After reading the course material, you will be able to:

  • Introduce Form 7203
  • Learn how to complete Form 7203
  • Discuss strategies to reconstruct Shareholder Basis
  • Review loss limitations of 461
  • Review at-risk rules and limitations

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships: