Contemporary Tax Practice | C Corporation Taxation – Formation Issues | Corporations: Entity Classifications | C Corporations and S Corporations

Contemporary Tax Practice
Research, Planning and Strategies
Student Resource Center

- John O. Everett, Ph.D., CPA
- Cherie J. Hennig, Ph.D., M.B.A.
- Nancy Nichols, Ph.D., CPA

End of Chapter Case Studies

Contemporary Tax Practice Students

Tax Tutorial Module 2 — C Corporation Taxation – Formation Issues

Click Links Below to Load Topics on the Right →

Module 1 | Module 3 | Module 4

Module 2: C Corporation Taxation – Formation Issues

1.Corporations – Entity Classifications

A.C Corporations and S Corporations – An Overview

B.Post-1996 Check the Box Regulations

C.Application of Pre-1997 Classification Rules to Trusts

D.Professional Service Corporations

2.Corporations: Sec. 351 Controlled Transfers

A.Sec. 351 Transfers – Basic Requirements

B.Sec. 351 Transfers – Gain or Loss on Contribution of Services

C.Sec. 351 Transfers – Gain or Loss Without Boot Received

D.Sec. 351 Transfers – Gain or Loss With Boot Received

E.Sec. 351 Transfers – Gain or Loss With Liabilities Assumed

3.Sec. 351 Transfers – Basis and Holding Period Issues

A.Sec. 351 Transfers – Basis of Stock Received by Contributors

B.Sec. 351 Transfers – Basis of Property Received by Corporation

C.Sec. 351 Transfers – Holding Period Issues

4.C Corporations – Sec. 267 Related Party Rules

B.Sec. 267 Sales or Exchanges Between Related Parties

Next lesson

Topic 1: Corporations: Entity Classifications
[IRS Materials: Publication 542 and Form 8832]

A. C Corporations and S Corporations – An Overview

1. Your textbook in the choice of entity chapter includes an overview for the corporate and S corporate tax entities. These figures represent a continuation of the comparison that displayed the same set of facts as a proprietorship and a partnership.

2. After you complete your initial study of this part, you may want to return to the to this text chapter and compare the corporate and noncorporate results. Knowledge of the key tax differences among the four types of business entities should be very helpful when you take the exam.

3. Many of these key differences are highlighted in bold print in each example. You should concentrate on these in your final review of the various entities.

Next lesson