List of Questions
Chapter 1 Qualifying as an S Corporation
- Basic Considerations
- Ownership and Business Considerations
- Capital Structure
- Organization and Contributions to Capital
- Foreign Operations
Chapter 2 Elections and Consents
- Manner and Time of Election
- Consents
- Withdrawal and Amendment
- Reelection
- Private Letter Rulings
Chapter 3 Taxable-Year Rules
- Taxable-Year Options
- Taxable-Year Election Mechanics
- Maintenance and Termination of the Section 444 Election
Chapter 4 Terminations and Revocations
- Basic Considerations
- Terminations
- Revocations
- Accounting for a Termination or Revocation
- Post-Termination Estimated Tax
Chapter 5 Reorganizations of S Corporations
- Basic Considerations
- Mergers and Consolidations
- Divisions, Acquisitions, and Sales
- Other Transactions
Chapter 6 Protecting the S Corporation Election; Invalid Elections
- Threats to the Election
- Protective Measures
- Invalid Elections
Chapter 7 Passive Investment Income
- Basic Considerations
- Gross Receipts
- Income Characterization
- Corporate Planning
Chapter 8 S Corporations' Taxable Income and Losses; Taxation of the S Corporation
- Fundamental Principles
- Tax on Excess Passive Investment Income
- Long-Term Capital Gains—Historical Perspective
- Built-in Gains
- Investment Tax Credit Recapture
- Last-In, First-Out (LIFO) Recapture
- Estimated Tax Payments
Chapter 9 Taxation of S Corporation Shareholders—Basic Pass-Through and Allocation Principles
- Pass-Through of Income, Losses, and Other Items
- Changes in Ownership
- Other Concerns
Chapter 10 Limitations on Shareholder Losses and Deductions
- Basis Limitations
- Interrelationship of Subchapter S and Code Section 1244
- At-Risk Rules
- Passive Activity Loss (PAL) Rules—Overview
- PAL Rules—Definition of Activity
- PAL Rules—Material Participation
- PAL Rules—Disallowed Losses and Credits
- PAL Rules—Rental Activities
- PAL Rules—Dispositions of Property or Interests in Property
- PAL Rules—Effective Dates and Transitional Rules
Chapter 11 Shareholders' Basis in S Corporation Stock and Loans
- Determining Basis
- Structuring Loans to Increase Basis
- Contributions to Capital—A Planning Tool
Chapter 12 S Corporation Distributions to Shareholders
- Fundamental Concepts
- Corporations Without E&P
- Corporations with E&P
- Post-Termination Distribution
- Unintended Dividends
Chapter 13 Compensation; Fringe and Retirement Benefits
- Compensation
- Fringe Benefits
- Retirement Plans
- Life Insurance
Chapter 14 Tax Administration of S Corporations
- Returns
- S Corporation Audits Generally
- Subchapter S Items
- Statute of Limitations and Other Matters
- Tax Return Issues
Chapter 15 Estate Planning and Administration
- Pre-Death Considerations
- Post-Death Considerations
Chapter 16 State Taxation
Chapter 17 Choice of Entity
- Forms of Entities and Definitions
- Taxation of Different Entities
- Distinguishing Characteristics
- Choosing the Form to Use
- Switching Forms of Entity
Chapter 18 2017 Tax Reform
- Summary of Changes
- The (20%) Passthrough Business Income Deduction
- Deemed Repatriation
- Qualified Beneficiary ESBTs
- Global Intangible Low-Taxed Income
- Limitation on Deduction of Business Interest
- S Corporation Conversion to C Corporation
- Bonus Depreciation (For Both New and Used Property)
- Availability of Cash Method Accounting
- Reduced Income Tax Rates
- Carried Interest
- Significant Developments Regarding Tax Reform
Appendix A: Questions and Answers about Reporting Related to Section 965 on 2017 Tax Returns
Appendix B: Publication 5292—How to Calculate Section 965 Amounts and Elections Available to Taxpayers For use in Preparing 2017 Returns
Appendix C: H.R. 1-10: Part II—Deduction for Qualified Business Income of Pass-Through Entities
Tables
- Internal Revenue Code Sections
- Treasury Regulations Sections
- Administrative Announcements
- Cases
Glossary
Index
