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M
merck3630
Level 2
March 7, 2022
Question

Option to FORCE IRS Form 7203

  • March 7, 2022
  • 1 reply
  • 8 views

The updated "Federal Basis Limitation Worksheet" has been shortened and is no longer an acceptable version of the Basis Limitation Worksheet.  I assume Lacerte did this because of the new IRS Form 7203. Unfortunately, this IRS Form 7203 is not required for all S-corps; however, the complete worksheet or equivalent IRS Form 7203 is still required for yearly record keeping.  PLEASE UPDATE LACERTE TO ALLOW FORCING IRS FORM 7203.

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1 reply

M
merck3630Author
Level 2
March 13, 2022

Other items that increase stock basis, I added "Force Inclusion of Form 7203 for record keeping = $1".  

Other items that decrease stock basis, I added "Force Inclusion of Form 7203 for record keeping = $1".  

This is not the way to make this work, but a reasonable workaround until a fix is found and published.

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