topic Re: Form 7203 in Get your taxes done using TurboTax

Form 7203

voni39 — Tue, 10 Mar 2026 06:42:34 GMT

Can someone tell me if Form 7203 is actually working to limit losses on the 1040. I know I have a basis limitation, but my 1040 is allowing me to take the total loss from our S Corp. I don't know what I am doing wrong on Form 7203. We have a stock basis and debt basis and our loss is in excess of both combined.

Would really appreciate any help I can get. TT told me they emailed me, but I cannot find their emails anywhere.

Thank you.

Re: Form 7203

Mike9241 — Sat, 26 Nov 2022 00:43:24 GMT

doesn't work. didn't work in 2021 either

Re: Form 7203

voni39 — Sat, 26 Nov 2022 18:15:12 GMT

Thanks - How did you get around it?

Re: Form 7203

Mike9241 — Sat, 26 Nov 2022 18:45:58 GMT

finally figured it out in k-1 you must check that some investment is not at risk and also complete form 6198