Is 1120s k1 shareholder basis reported to irs

[Mike9241]

if you have a loss, receive distributions, make or repay loans form 7203 is required in which you report your basis in the S-corp to the IRS. The S-corp does not. 

[gar_pol]

• Thank you, Mike. But s corp k-1 has an attachment “shareholder’s basis calculation “ worksheet. It has incorrect calculation because it did not take previous years into account. The question is whether this worksheet reported to irs by s corp ?