Generate Form 7203: S Corporation Shareholder Stock and Debt Basis Limitations

Form 7203 generates for a 1040 return when:
  • The return has a Schedule K-1 (Form 1120s) as an entity in the
    K1 1065, 1120S
    folder, and
  • The
    Calculate shareholder basis worksheet
    checkbox is marked on the
    SBasis1
    tab of the
    K1 1065, 1120S
    folder.
If Form 7203 isn't populating, make sure at least 1 of the following is true:
  • The S corporation entity is deducting an aggregate loss (which may include prior-year suspended loss carryovers).
  • Data is entered in the
    Property distributions
    field on the
    K1-5
    screen.
  • Data is entered in the
    Repayment of shareholder loans
    field on the
    K1-5
    screen.
  • The
    Shares sold or disposed during the year
    field is marked on the
    K1
    screen.

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