My S-Corp accountant says typically it's a pdf attached to a paper filing, but Turbo tax may have a mechanism to add "statement" info. This is for the K-1, as a shareholder, on my personal return.
The info shows up on my K-1 Box 17, Code V.
"Sharehold has made an election pursuant to regs. 1.1367-1 to decrease basis by items of loss or deduction before nondeductible expenses" and should note the dollar amount as part of the statement text, not part of TurboTax entered data (at least I don't think I came across a place to enter shareholder basis worksheet-page 2 data.)
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To include the statement using a TurboTax desktop version, view the return in Forms Mode. Select the Open Form button at the top. Then type Blank in the search bar. A blank form will generate and your statement can be written there.
See the TurboTax FAQ below for additional information.
To include the statement using a TurboTax desktop version, view the return in Forms Mode. Select the Open Form button at the top. Then type Blank in the search bar. A blank form will generate and your statement can be written there.
See the TurboTax FAQ below for additional information.
If you read the About Blank link, you will see that it DOES NOT get filed with your return.
The answer doesn’t work, I’m using TurboTax for business 2021 preparing an S Corp. return and I need to add an additional statement, no blank statement appears
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