TurboTax Online supports filling out form 7203 as part of including K-1 income in personal taxes. However, it seems like there's a software bug in TurboTax where column d (Total) on line 23 always resets to 0 after recalculating or saving the form, regardless of the user input on line 23. This causes lines 12, 14, and 15 TurboTax to be incorrect as well, because these lines depend on the result of line 23 and TurboTax calculates them automatically.
It seems to me that any TurboTax user with any non-zero figure(s) on line 23 "Debt basis restoration (see instructions)" won't be able to complete their tax return. Or worse, they may file their tax returns with incorrect information since TurboTax updates the line 23 Total as well as the dependent cells to the wrong numbers without notifying the user and they may not notice unless they go back to review.
Is this actually a TurboTax Online software issue or am I missing something? Can this be reported so that TurboTax can fix the calculation? Is there a workaround?
Thank you!
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I too am having this issue. I cleared everything and the browser data to start fresh. Same issue. The online version zeros out line 12 and the total for line 23.