Who Must File
Form 7203 is filed by S corporation
shareholders who:
• Are claiming a deduction for their
share of an aggregate loss from an S
corporation (including an aggregate
loss not allowed last year because of
basis limitations),
• Received a non-dividend
distribution from an S corporation,
• Disposed of stock in an S
corporation (whether or not gain is
recognized), or
• Received a loan repayment from an
S corporation.