Hi @AliciaP1,
I'd like to know if you can help me with my similar circumstance: https://ttlc.intuit.com/community/business-taxes/discussion/how-to-calculate-cumulative-shareho[prod...
How to calculate cumulative shareholder bases (lines 1 and 2 of the new 7203 forms) to take S Corp losses this year? We have K-1s and 1120-S forms going back 16 years.
Note: TurboTax's new 7203 form is reporting zero for lines 1 and 2. I did not enter these numbers.
Another question is about line 35: losses for this year (column a) and last year (column b - carryover). Shouldn't the carryover amount include losses from two or more years ago? According to IRS prior year's carryover was supposed to be on the worksheet that preceded 7203. However, Turbotax never sent me that worksheet.
