lyleKS
Level 3
09-22-2023
11:16 AM
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I have an S corporation with one stockholder and along with the K-1 I have Form 7203 from the corporate return. After exporting the K-1 info to the individual return, the Form 7203 prepared at the individual level was different. The 7203 prepared by the S corp module included oil revenues and expenses, depletion, and gain on equipment with Section 179 expense. These items were all dropped at the individual level.
I can make changes on the individual return's 7203 but everything gets thrown into the "other" category. In contacting support, I learned that the 7203 isn't automatically transmitted when e-filing, so I can attach the correct 7203. However, shouldn't the two 7203s be the same?
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