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- Re: Option to FORCE IRS Form 7203
Option to FORCE IRS Form 7203
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merck3630
Level 2
03-06-2022
08:28 PM
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The updated "Federal Basis Limitation Worksheet" has been shortened and is no longer an acceptable version of the Basis Limitation Worksheet. I assume Lacerte did this because of the new IRS Form 7203. Unfortunately, this IRS Form 7203 is not required for all S-corps; however, the complete worksheet or equivalent IRS Form 7203 is still required for yearly record keeping. PLEASE UPDATE LACERTE TO ALLOW FORCING IRS FORM 7203.
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merck3630
Level 2
03-13-2022
05:11 PM
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Other items that increase stock basis, I added "Force Inclusion of Form 7203 for record keeping = $1".
Other items that decrease stock basis, I added "Force Inclusion of Form 7203 for record keeping = $1".
This is not the way to make this work, but a reasonable workaround until a fix is found and published.
