What You'll Learn

  • Why IRS is now forcing tax preparers to include S corp & partnership basis information on Form 1040

  • How to calculate basis for S corps and partnerships for purposes of filling out Form 1040

  • What to do when the client has no idea what his basis is, cannot understand why you need such a thing, you never asked about this before, and so forth and so on, a.k.a. "Yada Yada Yada."

  • How tax preparers can turn basis problems into income earning opportunities

Course Reviews

Dana Andrews

5 star rating

“Short, Sweet and immediately usable.”

“Short, Sweet and immediately usable.”

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Mary Bachorski

5 star rating

“Excellent”

“Excellent”

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Forrest Howe

5 star rating

“Although only an intro it puts one on the right track.”

“Although only an intro it puts one on the right track.”

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Meet Your Instructor

Andrew Freiburghouse, known as Andy Frye in "Tax World," is a tax consultant and Enrolled Agent (E.A.) licensed to represent taxpayers before all levels of the IRS. Andy started his tax career as a tax preparer at Pronto Income Tax of California, Inc., a third-generation family business with multiple locations based in Southern California. After preparing more than 10,000 tax returns and developing extensive employee training programs within his family business, Andy founded Pronto Tax School, Inc., an online training company that educates and empowers tax professionals and taxpayers nationwide. Pronto Tax School is an IRS-approved education provider that offers credentialing and continuing education certificate programs, as well as career advancement and business development training. Andy is a graduate of Santa Clara University, the Goldman Sachs 10,000 Small Businesses Program, and The School of Tax Business Hard Knocks.

Andy Frye, EA

Founder & CEO, Pronto Tax School

Course curriculum

  • 01

    Getting Started

    • Before You Start, PLEASE READ THIS!

    • Getting Started Quiz

  • 02

    The Materials

    • Basis Bothers Me (WEBINAR RECORDING)

    • Basis Bothers Me (PDF SLIDES)

    • Q & A from Webinar

    • Review Questions

    • Exam Questions

  • 03

    Tools & Templates

    • Basis Research Articles Cheat Sheet

    • Simplified Partnership Basis Worksheet in Excel

    • Simplified S Corporation Shareholder Basis Worksheet in Excel

  • 04

    Final Steps

    • IMPORTANT --> What You Need to Do Next for IRS and CTEC

    • Verify Your CTEC and/or IRS Readiness

    • 5 Minute Feedback