Hello!

I have an S-Corp client that I took over for starting with the 2017 tax year.  The company has been incorporated since 2009 and the books were in horrendous shape when I took them over.  Since the IRS introduced Form 7203, I've wanted to see if I can properly determine shareholder cost basis.  I'm currently asking the client to provide all prior K-1s starting with 2009.  If they are unable to provide K-1s from that long ago, what should I do to ensure the Form 7203 has correct information reported on it?

Thank you!