S Corp basis schedule

[Birdie]

I have 25 shareholders in an S Corp.  Some purchased stock 10 years ago and don't know their bases.  Many have outside basis.  I do not prepare any of the individuals returns and have told the individuals that their tax preparer is responsible for determining their basis.  How do I delete the S Corp basis schedules on the 1120S since they are very likely to be wrong.  

[George4Tacks]

Deleting is likely not a good choice. 

Give each shareholder a copy of the 7203 and instructions that they will be REQUIRED to file with their tax return and have them give you a completed copy that you can then use to properly complete the basis schedule.

[PhoebeRoberts]

Deleting is 100% the right choice. Tracking basis is not the 1120S preparer's job. I provide it with the K-1 when I happen to know the right answer, but that's because I'm nice, not because I have to.

You want a screen called Schedule K Miscellaneous. The topmost item enter a 2 to suppress shareholder basis schedules. This is what it looks like in Lacerte: