Robert W. Jamison
July 21, 2017
S Corporation Taxation Course - Chapter 9 - Built-In Gains Tax
The following topics were reviewed:
- Recognition Period
- Net Unrealized Built-In Gain
- Net Recognized Built-In Gain
- Taxable Built-In Gain
- Computation of Tax
- Use of Credit Carryforwards
- Completing Form 1120S
- Gain Carryforward
- Completion of the Process
- Extensions of the Rules
- Professional Fees Received After Conversion
- Gain or Loss Duplication Resulting from QSub Conversion
- Valuation of Intangible Asset held at Conversion
- LIFO Recapture Tax