Planning and More Under the S Corporation §1374 Built-In Gain Rules

Learning objectives: After completing this course, you will be able to:

• Identify when the built-in gains tax applies.
• Determine how to compute the built-in gains tax.
• Utilize planning techniques to avoid or minimize the built-in gains tax.

Program description: This program begins with a review of the basics of the §1374 built-in gain rules and how the built-in gains tax potentially applies during the five-year recognition period to the disposition of appreciated assets owned by an S corporation as of the effective date of its conversion from C corporation status. The program then addresses: (1) the limitations on the amount of the built-in gains tax; (2) the importance of the timing of disposition of built-in gain and loss assets; (3) how to minimize or eliminate the built-in gains tax impact of cash-basis accounts receivable owned by the S corporation as of the effective date of its S election; (4) how the built-in gains tax applies to collections of an installment note held by the S corporation as of the effective date of its S status; and (5) how the built-in gains tax applies to assets disposed of by a partnership in which the S corporation owns an interest.
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Program level: Basic. Is of value to any tax professional who provides services in the flow-through arena.

Program prerequisites: None

Advance preparation needed: None

Delivery method: QAS (Quality Assurance Service) Self-Study

CPE credits: 3.0 credit hours (see details on registration page)

CLE credits: Each state has its own Continuing Legal Education (CLE) credit requirements. Tax Forum has not applied for CLE credit in any state for its Self-Study programs. No assurance can be provided that any Self-Study program will qualify for CLE credit in a state. If you require CLE credit, we suggest you contact the applicable state bar association (or other governing body) on how you may request CLE credit for attending one of Tax Forum’s Self-Study programs.

Recommended field of study: Taxes

Course registration: https://taxforums.ce21.com/item/planning-s-corporation-1374-builtin-gain-rules-qas-study-602841#tabAdditional

Refund policy: There are no refunds or cancellations.

Version Date: 1/2/24, Reviewed by Michael J. Cohen.

Complaint resolution policy: Complaints are resolved by calling 800-286-4760 or emailing support@taxforums.com

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Tax Planning Forum LLC is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsorts may be submitted to the National Registry of CPE Sponsors through its website.