Surgent's Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations (TFBC)

11/18/2025
8:00 AM - 4:00 PM Central

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Member:	$279.00
Non-Member:	$299.00

8 Credits

Webinars

The course provides a comprehensive, hands-on, pencil-pushing understanding of the preparation of both S corporation and partnership/LLC tax returns, along with the underlying laws, regulations, etc. The course uses the basic concepts underlying the two main types of business returns, 1120-S and 1065, as building blocks for more complex concepts tax preparers should be aware of. The theoretical concepts are illustrated in comprehensive examples that incorporate the most up-to-date law changes and provisions.

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

Presenters:
Dave Peters, CPA, CFP, CLU, CPCU, MST, MBA

Field of Study:
Taxes (8)

Major Topics:

• Updates related to HR 1, One Big Beautiful Bill Act – incorporated throughout the material
• 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”
• Income tax laws for S corporations ranging from eligibility and election to tax return preparation, stock basis, and loss limitation issues
• Recognizing and handling special pass-through items of income and expense
• Preparing S corporation returns and reconciling book income to taxable income
• Preparing partnership returns and reconciling book income to taxable income
• What the transactional method entails and how to report partners’ capital accounts under this method
• Properly handling the tax treatment of distributions to shareholders, partners, or members
• The special restrictions and sanctions for tax year-end selection
• 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”

Webinar

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11/18/2025

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