It may not be included because you are not required to file the form. However, it may be beneficial for shareholders to complete and retain IRS Form 7203 even for years it is not required to be filed, as this will ensure their bases are consistently maintained year after year.
IRS Form 7203 Instructions page 1 states:
Who Must File
IRS Form 7203 is filed by S corporation shareholders who:
- Are claiming a deduction for their share of an aggregate loss from an S corporation (including an aggregate loss not allowed last year because of basis limitations),
- Received a non-dividend distribution from an S corporation,
- Disposed of stock in an S corporation (whether or not gain is recognized), or
- Received a loan repayment from an S corporation.
You will want to retain a copy of the form for your files. Are you able to print out the form at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets?
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