form 7203 is only for S-Corps and it does not work at least not in my version - desktop deluxe.
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.
It may be beneficial for shareholders to complete and retain Form 7203 even for years it is not required to be filed, as
this will ensure their bases are
consistently maintained year after
year.
