Business & farm

Requiring this information is not new.

Before this form was developed, S corporation shareholder's were required to file this same information with their 1040, except, there was no specific form.  See snippet from the Schedule E instructions:

Owners of S corporation stock and debt. If you report a loss, receive a distribution, dispose of stock, or receive a loan repayment from an S corporation, you must check the box in column (e) on line 28 and attach the required basis computation.

And if I'm not mistaken, TT did not have any way of attaching this information in the past.

Given this is now an actual form, I would imagine that TT will eventually provide this form.  We also have to keep in mind that this form 7203 is brand new and still in draft form.  The IRS may not even be set up to accept electronic filing of this form; this is an assumption, but given their staffing situation and that this is brand new, not a huge stretch.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.