PatriciaV
Expert Alumni

Business & farm

Yes, report your original shares as the beginning share balance. If nothing changed, the ending share balance would be the same. The share value is equal to your original investment in the S-Corp. The Articles of Incorporation should specify a share value (typically one dollar). The ending value is adjusted for additional investment, distributions, and loans. You may need previous year K-1s to calculate the final share value.

 

See the IRS Instructions for Form 7203 for more help.

 

You are not required to include Form 7203 if none of the transactions listed above occurred during the year. If TurboTax is asking you to complete a 7203, you probably reported one of those items.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"