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Level 2
posted Mar 25, 2024 5:50:35 PM

Desktop form 7203 will not let me fill in Part 1 line 8a (nondeductible expenses which came from K-1 line16C

Desktop

version Form 7203 Part 1 Shareholder Stock Basis will not let me enter a value in line 8a Nondeductible Expenses. The value came from line 16C on my K-1 1120-S.

Any help is appreciated

 

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1 Replies
Expert Alumni
Mar 26, 2024 2:32:33 PM

In TurboTax Desktop Premier, I am able to enter Nondeductible expenses in the Stock and Debt Basis Limitations Smart Worksheet line B.

 

 

In Part I Shareholder Stock Basis, make sure that a value is included in line 1 Stock basis at the beginning of the corporation's tax year and/or line 2 Basis from any capital contributions made or additional stock acquired during the year.

 

 

 

The entry on line 8a Nondeductible expenses does not seem to appear unless there is a value entered on line 1 or line 2 above.