My S-Corp accountant says typically it's a pdf attached to a paper filing, but Turbo tax may have a mechanism to add "statement" info. This is for the K-1, as a shareholder, on my personal return.
The info shows up on my K-1 Box 17, Code V.
"Sharehold has made an election pursuant to regs. 1.1367-1 to decrease basis by items of loss or deduction before nondeductible expenses" and should note the dollar amount as part of the statement text, not part of TurboTax entered data (at least I don't think I came across a place to enter shareholder basis worksheet-page 2 data.)
