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Level 5
May 1, 2022
Question

Form 7203 Required on Form 1040 for S-Corp Owner

  • May 1, 2022
  • 1 reply
  • 12 views

I am being prompted to include Form 7203 for the 2021 1040 of an S-Corporation owner.

I see the 7203 on the input screen in the actual 1120-S, but I do not know how to actually print this form. It is not printing with the 2021 1120-S.

How do I print this specific form for the shareholder to include it with the 1040?

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1 reply

PhoebeRoberts
Intuit Community Champion
May 2, 2022

It's not a corporate-level form. Fill out the basis information in the K-1 input screen of the 1040, and it should appear.

tccpg289Author
Level 5
May 2, 2022

Got it, so it must be entered manually? There is nothing to import?

PhoebeRoberts
Intuit Community Champion
May 2, 2022

Correct. Basis is tracked at the shareholder level, not the entity level.