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Level 2
March 23, 2022

6587

  • March 23, 2022
  • 1 reply
  • 3 views

The following diagnostic is generating:

S-Corporation # {PrefixNum} : Per Schedule E instructions, if you report a loss, receive a distribution, dispose of stock, or receive a loan repayment from an S corporation, you must attach the required basis computation on Form 7203. To trigger the basis computation, make an entry in "Adjusted basis at beginning of year (-1=none)".

 

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Level 5
March 24, 2022

Will the critical diagnostic #6587 prevent us from e-filing?  Basis information is not currently available for our client