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Form 7203 differences

lyleKS
Level 3

I have an S corporation with one stockholder and along with the K-1 I have Form 7203 from the corporate return.  After exporting the K-1 info to the individual return, the Form 7203 prepared at the individual level was different.  The 7203 prepared by the S corp module included oil revenues and expenses, depletion, and gain on equipment with Section 179 expense.  These items were all dropped at the individual level. 

I can make changes on the individual return's 7203 but everything gets thrown into the "other" category.  In contacting support, I learned that the 7203 isn't automatically transmitted when e-filing, so I can attach the correct 7203.  However, shouldn't the two 7203s be the same? 

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1 Comment 1
PhoebeRoberts
Level 11
Level 11

Export doesn't catch everything. Make sure the rest of your 1040 is right, and at that point, the adjustments to the 7203 ought to be minor (or none).