Deleting is 100% the right choice. Tracking basis is not the 1120S preparer's job. I provide it with the K-1 when I happen to know the right answer, but that's because I'm nice, not because I have to.

You want a screen called Schedule K Miscellaneous. The topmost item enter a 2 to suppress shareholder basis schedules. This is what it looks like in Lacerte: