i use desktop but I think the steps are the same. note the 7203 who must file
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.
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so if you have income no carryforward losses and the other 3 items also don't apply, Turbotax will not ask for the 7203 info
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if you need to enter it
Federal taxes tab
wages and income tab
choose what to work on (blue icon)
scroll down to the k-1 section (update)
schedule K-1 answer yes
select S-corp (start)
select your S-Corp (edit)
continue until you get to the7203 page.
