1040 Schedule E pg 2 - S Corp

[commander24]

We noticed that when you have the s corporation that on the E pg 2, there would be statement for the basis, but the statement pages are blank.   Statement lines are there on the E pg 2.  I didn't know if that intentional or not since really it is reported on 7203 now.  

[Karl]

Yep, I'd bet it's intentional. Before 7203 was released, but after it had been announced, Lacerte tried to petition the IRS to accept their statement as a substitute for 7203.  Then when 7203 was released and Lacerte saw the debt breakouts, they realized they had to integrate the form.  So I would imagine they axed the statement to buffer against the risk of inconsistent reporting due to algorithms.

I hope they are keeping / kept the state basis statements.  Haven't gotten there yet to see with my clients.  I'm in CA, and their basis is WAY diff than federal.