Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations Webcast
October 28, 2025
Live Webcast
NYSED 8
Instructor
Suzanne Youngberg
Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations Webcast
Instructor
Suzanne
Youngberg
Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation
Reporting requirements and filing exceptions for Schedules K-2 and K-3
Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
Gain a comprehensive understanding of income tax laws for S corporations from eligibility and election to tax return preparation, stock basis, and loss limitation issues
Recognize and properly handle special pass-through items of income and expense
Accurately prepare S corporation returns and reconcile book income to taxable income
Accurately prepare partnership returns and reconcile book income to taxable income
What the transactional method entails and how to report partners’ capital accounts under this method
Properly handle the tax treatment of distributions to shareholders, partners, or members
Understand the special restrictions and sanctions for tax year-end selection
Review the basics of partnership and LLC formation and basis calculation
Self-employment tax or NOT, for each entity
Filling in K-1s correctly for S corporations, partnerships, and LLCs. Major changes in K-1 reporting on both partnership and S corporation forms and content
The most frequently used forms and schedules, including some form “oddities”
Learning Objectives
Learn in detail about the preparation of Form 1120-S, Schedules M-1, K, and K-1
Learn in detail about the preparation of Form 1065, Schedules M-1, K, and K-1
Identify and handle commonly found S corporation and partnership tax issues
Major Topics
Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation
Reporting requirements and filing exceptions for Schedules K-2 and K-3
Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
Gain a comprehensive understanding of income tax laws for S corporations from eligibility and election to tax return preparation, stock basis, and loss limitation issues
Recognize and properly handle special pass-through items of income and expense
Accurately prepare S corporation returns and reconcile book income to taxable income
Accurately prepare partnership returns and reconcile book income to taxable income
What the transactional method entails and how to report partners’ capital accounts under this method
Properly handle the tax treatment of distributions to shareholders, partners, or members
Understand the special restrictions and sanctions for tax year-end selection
Review the basics of partnership and LLC formation and basis calculation
Self-employment tax or NOT, for each entity
Filling in K-1s correctly for S corporations, partnerships, and LLCs. Major changes in K-1 reporting on both partnership and S corporation forms and content
The most frequently used forms and schedules, including some form “oddities”
CPE Credits Available
NYSED 8
8
Taxation (NYSED) - NYSED
Things to Know About This Course
Course Level
Basic
Professional Area of Focus
Taxation (NYSED)
Prerequisites
None
Advanced Preparation
None
Intended Audience
All levels of staff and company controllers responsible for filing these forms
