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Self Charged Interest and Form 7203

Mamasteph2013
Level 2

I have a client who is a shareholder in an s corp.  She loaned the S corp money and has received interest.  This interest is included in interest expense on the P&L.  The only place that I could find to enter the self-charged interest on the k-1 was on screen 36.  This entry places this amount in **bleep**.  What am I doing wrong?  Which form is correct?  I tried entering self-charged interest in box 10 of Schedule K, but when I put it there, it divides it between all shareholders and messes up the M-2.  This company has not elected to avoid the rules for self-charged interest.  Please help.

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7 Comments 7
Mamasteph2013
Level 2

Grr!  It deleted most of my question.  The part that was replaced **bleep**.

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Mamasteph2013
Level 2

How is anyone supposed to answer my question if it keeps bleeping out my question? Grrrrrrrrrrrr!

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abctax55
Level 15

type the word in, but put 'periods' between the letters to fool the censors on steroids.

(This place is AFU (see it that passes censorship..;-)

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
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Mamasteph2013
Level 2

**bleep** the 7203 on the 1120s.  1040's 7203 is including self-charged interest but 1120's 7203 is not.

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Mamasteph2013
Level 2

T.h.e 1120's 7203 does not match the 1140's 7203.

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Mamasteph2013
Level 2

I guess it doesn't like the word f.o.r.m.  kind of d.u.m.b for a forum on taxes.

TaxGuyBill
Level 15

@IntuitGabi  and @IntuitBettyJo 

Can you fix this stupid censor that is "bleeping" common words?  It is making this forum useless.