Form 7023

The latest update now includes the blank worksheet and provides it to fill out in TT Advantage Premier at the end of diting you K-1. It is assigned to the correct K-1. However it doesn't show in a printed copy or saved (PDF) of the filed return. Does this indicate I don't need to file it, I doubt it. So than how is it that done. And will it will available to print the form or efile the return???

215

Expert Alumni

Mar 28, 2022 11:58:28 AM

This is the formal version of your basis calculation that you are responsible for tracking as a shareholder of an S-Corp. At this time it will not print, so you should manually track this year as you have tracked previous years.

The attachment built into TurboTax will be e-filed with your return as required by the IRS for 2021.

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Form 7023