I have read some other threads on Shareholder Basis and have a follow up question.
I understand that TurboTax does not have a way to file the basis worksheet electronically (ridiculous by the way). So according to form 7203 under "who must file" you only need to file this worksheet under certain circumstances. Under "TIP" they recommend using it to maintain basis info.
So if I am understanding this correctly, I am filing my K-1 (form 1120s) electronically and hanging on to my 7203 for my records and future basis calculation???
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