Hi everyone.
I'm having an issue while filling out Form 7203. I'm manually inputting the values on the Part II Shareholder Debt Basis. When I finish, I hit Continue. If I go back, none of the values I manually input are there. Even worse, when I get to "Review your tax return" (at this point, I'm ready to file), those values are also blank.
What am I doing wrong? I also tried clicking the "Refresh Calculation" button while filling out Form 7203, and it did not work. Help!
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Maybe you are doing nothing wrong. Check the form under Print, save or preview this year's return.
In TurboTax Premium Online, I am able to report entries in all three parts of IRS form 7203 S Corporation Shareholder Stock and Debt Basis Limitations.
I recommend selecting Refresh Calculations upon each entry.
Also note that some entries are not made directly in the form, but are entered on lines B through F above.
I have noticed that although I select either Formal note or Open account under the heading in Part II, the selection does not show even after refreshing. The selection does show when I view the form in the final tax return. See below.
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