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Are you referring to IRS form 7203, S Corporation Shareholder Stock and Debt Basis Limitations?
Yes.
I know I need to complete a separate form I just want to know how I unlcude that in my online turbotax submission when I file.
S corporation shareholders use Form 7203 to figure the potential limitations of their share of the S corporation’s deductions, credits, and other items that can be deducted on their individual returns.
Form 7203 appears in the S-corps, Partnerships, and Trusts Income from partnerships, S-corps, LLCs and REMICs near the end where you entered Schedule K-1.
If you’re an S corporation shareholder and you:
TurboTax will create Form 7203 on your personal return and perform limited calculations based on your entries.
Thanks but my question is, at what point (or in what section) am I able to request that the 7203 form be generated. I completed my taxes (though I have not filed them) and I did not see any prompt to create this form.
You may wish to return to the K-1 topic and review your entries for Form 1120S Schedule K-1. At the end of the entries for the K-1 boxes is a page "S Corporation Basis" that presents a sub-form with Form 7203 for you to complete.
If you're using TurboTax Desktop, you can complete this form using Forms Mode (Ctrl+2 or Forms>>Open Form).
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