There is no form 7203 at all on TurboTax business for 2022 (last year)
and M-2 line 7 is 0 for 2022
Maybe what I can do is to keep the shareholder beginning basis as $50000 this year, and distribute $50000 this year. If I understand correctly, the $50000 distribution this year has no tax obligation since tax for it has been paid last year, right? Just would like to make sure there is no additional tax for distributing $50000 this year.
Regards
