I have been using TurboTax Business and Personal for years. I have a two person S-Corp with my wife and I.
When I entered my K1 this year, I was asked to fill out form 7203, and I'm not sure why. This brings up the following questions below and you can see my K1 as well.
My K1 is as follows:
Box 1: $10,000
Box 4: $195
Box 16 - D $12,000
Box 17 - A $195
Box 17 - V* STMT
1. What triggers a "non-dividend distribution from an S-Corp"? I didn't adjust shares or anything. Even if I remove all the boxes except 1 and 16D I'm still asked for this form.
2. Weren't these all dividend distributions?
3. If not, I was not asked for this form in 2021 or 2022; do I need to amend those returns to add this?
I tried to read through some other forum posts but all did seem to have adjustments to shares.
Thanks.
