carolineb
Employee Tax Expert

Business & farm

Hi @gglockner

Entries in the K-1 section of TurboTax can indeed be tricky. In this case, when the system opens the 7203 form on your screen, rather than scrolling all the way down to Part I Shareholder Stock Basis line 8a, stop at the Stock and Debt Basis Limitations Smart Worksheet section just under the QuickZoom to the K-1S Worksheet. You can enter the non deductible expenses in field B Non deductible expenses under Current Year Amount and it will flow to Part I line 8a. 

 

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