S Corporations Advanced Topics: Estate and Succession Planning

4 Credits: Taxes


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S Corporations Advanced Topics: Estate and Succession Planning

Course Level
CPE Credits

4 Credits: Taxes

Course Description

This course reviews some valuation issues from recent cases concerning S corporation stock, including tax affecting and discounts. It concludes with some suggestions for easing the tax burden of the transfer of stock to younger family members or other desired successors. This course is designed for tax preparers who have experience with S corporations. Principal topics include basis rules for successor shareholders. This program also covers basis issues applicable to company-owned life insurance, including premium payment, treatment of the proceeds and timing rules affecting basis in the year of death of a shareholder.

Part 1 discusses the rules concerning estates and trusts and their eligibility to be shareholders in S corporations. Included are the exacting rules surrounding Qualified Subchapter S Trusts (QSSTs) and Electing Small Business Trusts (ESBTs).

Part 2 covers basis rules applicable to succession., special company-owned life insurance issues and creative methods to transfer stock to family members or other intended parties.




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Learning Objectives

Upon completion of this course, participants will be able to:

  • Be aware of stock basis rules for the successor to a deceased shareholder, including the imputed income in respect of a decedent (IRD) provisions;
  • Advise clients of the current basis rules for payment of premiums on company-owned life insurance;
  • Identify the effects of accounting methods and income allocation elections on deceased and successor shareholders;
  • Understand recent case law concerning the valuation of S corporation stock, and
  • Be aware of some techniques for using distributions and stock redemptions to transfer ownership of an S corporation.
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Course Specifics

Course ID
Revision Date
July 11, 2023

Prior experience with S corps

Advanced Preparation


Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02357-23-O
IRS Federal Tax Law Credits: 4
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1922
CTEC Federal Tax Law Credits: 4

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at

Meet The Experts

Robert W. Jamison

Robert “Bob” W. Jamison, CPA, Ph.D., is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass-Through Entities, both of which are published annually by CCH, a Wolters Kluwer business. He is the author of the 2022 edition of Essentials of Federal Income Taxation, published annually by CCH, a Wolters Kluwer business. Bob is a well-known author and speaker on S Corporations. He is curator of Wolters Kluwer Answerconnect Topic “S Corporations” and subtopics …

Robert W. Jamison, CPA, Ph.D. Read More »