Remember that the data needed for the Form 7203 has to be obtained from the S corporation. Turbotax personal tax software cannot create the Form 7203 from the Schedule K-1 alone. The K-1 will have some, but not all, of the data that is needed to prepare the individual's Form 7203 form. For example, the K-1 will show the passthrough income and deductions but it will NOT show the shareholder's beginning tax basis. Obtain the necessary worksheet from the S corporation and then enter that data in the individual's Form 7203 and I believe you should see the form fully active. At least I hope so since it worked for me.
