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Form 7203 Stock and Debt Limitations data source
I am a shareholder in an S Corporation and have received a schedule K-1 from the company. I am using TurboTax Premier 2022, and am at the step for filling out form 7203's smart worksheet. When I get to this form, TurboTax already has an entry in part E which I did not enter (with the description "Line I, line 3m: Other items that increase stock basis") with a description "INCOME ITEMS" and a positive amount. I do not know how it is arriving at the amount that is displayed and the amount does not match any items in the K-1 form I have received and entered earlier. When I right click on either the description or the amount, the "Data Source" is grayed out. Where does Turbotax get this amount from?
March 20, 2023
9:00 AM