Form 7203

[Dorota]

Hello, 

Just wanted to confirm if form 7203( shareholders basis),on individual return, will be part of the return in 2022 Proseries or do we have to attach it as a PDF to the return?

Thank you

[IRonMaN]

When you review the return I believe you get a friendly reminder that it needs to be attached as a pdf.

[josephfolsomcpa]

Is this a Proseries thing about still having to manually attach a .pdf version of form 7203 or is the IRS still not able to have that form be efiled like other forms?

[IRonMaN]

I'm guessing the IRS, but does it matter?  Either way we are forced to do it.

[frank1]

My guess is that if it were an IRS issue, then the Proseries message would so indicate.  My money says that this is a Proseries issue that has no priority with the software folks.  Sadly, a lot of these issues only get fixed after a lot of "prompting".  So, software folks, when will this be fixed?  It is a pain in the butt at a time of year when we do not need such things.

[josephfolsomcpa]

If this is an Intuit Proseries issue and the IRS CAN accept a 7203 like all the other forms, then Intuit needs to fix this.  We pay a large amount of money for this tax software and something that is common as form 7203 should not require additional work to e-file.  Now, if this is still and IRS issue, then there really isn't anything that can be done at this time.

[IntuitLisaI]

Hello, according to the forms availability list, a form 7203 is both available to print and to e-file. Are you getting an error or prompt not allowing for e-file? If so, please add a screen shot to the thread so I can look into it? Thanks! 

[josephfolsomcpa]

Form 7203 must be attached as a .pdf meaning that it is not efiled like the rest of the tax return. You have to do additional steps.  First you have to print the form 7203 as a .pdf, save it to your harddrive, then attached that .pdf to the tax return before efiling it.  The form 7203 goes with the efiled tax return as an attachment.

[frank1]

It's a diagnostic: Form 7203 S-corp stock and debt basis limitations cannot be electronically filed.  Form 7203 is present in this return.  This return may be printed and filed by mail..............or attach pdf and e-file".  We haven't tried efiling without a pdf attachment because we trusted the diagnostic.

So, is the diagnostic correct, or is it outdated?

[IntuitLisaI]

I'm looking into this and if I receive any insight I will report back. Thanks for the info! 

[jmoller]

 I have a 1040 I am preparing that gave me the diagnostic for the Form 7203.  I am also preparing another return that has a form 7203 but I do not get the error.  So is the Form attaching automatically or not.  When I looked for supported forms, it shows that 7203 is ready to efile??

[IRonMaN]

You need to attach it if it is needed.

[frank1]

Any update from 2 weeks ago, IntuitLisa?

[Suzzels]

Is there any update on this?  Thank you

[IRonMaN]

Sounds like she didn't gain any insight on the issue. 😞

[itonewbie]

Intuit is responsible for many things but not for the manual process of having to attach F.7203 as a PDF.

Uncle Sam is the big guy you want to go after, if that's what you want to do.  The form is simply not in the IRS MeF Schema for 2022 - that's public information you can verify at:

https://www.irs.gov/e-file-providers/tax-year-2022-modernized-e-file-schemas-and-business-rules-for-...

[IRonMaN]

Without checking into it, that is what I thought as mentioned previously, but you would think a moderator would have had enough resources available to come back and confirm that by now.

[itonewbie]

Luckily, wishing is free.  Otherwise, Intuit would have made me really broke. 🤣

[Intuitjhaze]

Appreciate you both @itonewbie @IRonMaN for keeping the community informed! Form 7203 does indeed need to be attached as a pdf. Here's a help article with more detailed info for those that need it.