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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???

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1 Reply
AliciaP1
Expert Alumni

Form 7023

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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