Contributions to an S Corporation [CPA Prep]

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🎓 Lesson Overview:
In this lesson, join Nick Palazzolo, CPA, as he delves into the intricacies of making contributions to an S Corporation. Nick breaks down the non-taxable nature of cash or property contributions in exchange for stock, as long as specific ownership thresholds are met. He also unpacks the tax implications for shareholders contributing services, the treatment of property contributions, and how these factors interact with the basis adjustments of S Corporation stock. Through a thoughtful example, Nick brings these concepts to life, walking through the tax treatment of both cash and property contributions, services as taxable income, and the importance of the 80% stock ownership rule to avoid unrecognized gains. This lesson provides a comprehensive outlook on the different facets of S Corporation contributions and the associated tax considerations.
🔍 Key Topics Covered:
- S Corporation contributions
- Cash contributions S Corp
- Property contributions S Corp
- Stock ownership rule
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