So we finally have a form for this. Hopefully this will help in the coming years when we get new clients as far as trying to determine what their basis is.
https://www.irs.gov/pub/irs-dft/f7203--dft.pdf
Lacerte is committed to ensuring that our program conforms to all filing requirements related to Form 7203.
This form is currently in development.
We currently recommend holding returns for which Form 7203 is required. We will provide further details on filing guidance and form release timing no later than Tuesday, February 8th.
irc162 wrote:If you use Drake and are looking for Form 7203, if you filled in basis info on the k-1 imput sheets, Form 7203 will appear in print mode under miscellaneous. It's not under Federal forms (where you might expect to see it). I just spent way too much time trying to figure out why this form wasn't appearing as a Federal form on my return.
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