Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Oct 12, 2023 5:39:53 AM

Been using turbotax business for years does turbotax keep running calc of shareholder basis?

I have been using turbotax business for years for s corp does turbotax keep a running calculation of shareholder basis within the program? If so where is best to find? If not is there a good spreadsheet somewhere one can use to keep this going.

0 1 236
1 Replies
Level 15
Oct 12, 2023 6:50:28 AM

You can use recent Form 7203 now (which is also included in TurboTax Business).

 

https://www.irs.gov/pub/irs-access/f7203_accessible.pdf