Edit box 8a in form 7203

Forum|Forum|1 year ago
August 28, 2024
2 replies
0 views

My business gave me Form 7203 for Schedule K-1. The copy of Form 7203 that I received has a value in box 8a Nondeductible Expenses. However, I am unable to enter this value in Form 7203 in TurboTax. Please advise.

Best answer by carolineb

Hi @gglockner!

Entries in the K-1 section of TurboTax can indeed be tricky. In this case, when the system opens the 7203 form on your screen, rather than scrolling all the way down to Part I Shareholder Stock Basis line 8a, stop at the Stock and Debt Basis Limitations Smart Worksheet section just under the QuickZoom to the K-1S Worksheet. You can enter the non deductible expenses in field B Non deductible expenses under Current Year Amount and it will flow to Part I line 8a.

If this post answers your question, please give it a thumbs up! Thanks for reaching out!

icalvo

Hello,

Your question is best answered on your Turbo Tax online account by requesting to chat or speak with a Live Turbo Tax expert.

Here is a link on how to connect to an expert.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US?uid=m0ebqwq8

Today we are discussing Self-Employment Estimated taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

carolinebAnswer

Hi @gglockner!

If this post answers your question, please give it a thumbs up! Thanks for reaching out!

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

gglocknerAuthor

Thanks to @icalvo for the pointers:

Yes, I now realize that I posted in the wrong discussion section, but I found no way to correct this myself
I incorrectly thought that the Community Discussions was the only way to answer questions since that's where I found answers in the past - thanks for the pointer to technical support

And of course thanks to @carolineb for the quick and correct answer despite my newbie posting mistake.