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How does one complete form 7203 for AMT purposes?

How do the amounts differ from regular tax?

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3 Replies

How does one complete form 7203 for AMT purposes?

k-1 income expenses adjusted for any amounts on line 17

How does one complete form 7203 for AMT purposes?

@Mike9241 Line 17 on 7203 is "Additional loans"... Are you referring to another form?

JamesG1
Expert Alumni

How does one complete form 7203 for AMT purposes?

Still unclear whether you are asking about IRS form 7203 S Corporation Shareholder Stock and Debt Basis Limitations.  Please clarify.

 

The instructions do not make any reference to a separate AMT calculation.

 

Form 7203 is filed by S corporation shareholders who: 

 

  • Are claiming a deduction for their share of an aggregate loss from an S corporation (including an aggregate loss not allowed last year because of basis limitations),
  • Received a non-dividend distribution from an S corporation, 
  • Disposed of stock in an S corporation (whether or not gain is recognized), or 
  • Received a loan repayment from an S corporation.

@LXXVII 

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