I think kinglemax has things turned around a bit. The source document for inputing S-1 information is not the basis statement, but instead the Federal K-1 issued to the stockholder by the S Corp in question. The entry place is Business Investment & Estate/Trust Income to select K-1 data entry, and that will lead you through the insertion process of information to be entered from the info on the K-1. If you have to report K-1 data on your personal return, you then have to include a Basis Statement attachment to your personal return, both stock and debt basis. Turbo Tax Personal regrettably does not provide for such a report through its program even though most of the information is inputted when the K-1 data was inserted; the work around is to select "Blank Form" from the Forms menu and describe and input all the reported additions and subtractions, starting with the beginning of year basis so as to compute the end of year basis which should then agree to the basis statement issued to you calculated by the tax software used to prepare the corporate tax return and K-1 that you received.
