Option to FORCE IRS Form 7203

[merck3630]

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.

This is not the way to make this work, but a reasonable workaround until a fix is found and published.

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".  

[IntuitGabi]

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[IncompassCPA]

To force Form 7203 for S corporation:

The program automatically computes the traditional Shareholder’s Basis Computation worksheet. Select the following box if you wish to use the Form 7203 for the Shareholder’s Basis Computation instead of the worksheet.

1. Go to Screen 28, Schedule K Miscellaneous.
2. Select the box Use Form 7203 for the Shareholder Basis Computation (code 15).