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Form 7203 (using CA amounts)
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mobilestranger2
Level 3
02-05-2023
09:20 AM
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State prior year losses in excess of basis (when different from federal prior year losses in excess of basis) are not flowing correctly to the state 7203 worksheet.
The federal prior year loss is being taken over to the state 7203 worksheet instead of the state prior year loss.
Is there a workaround for this?
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mobilestranger2
Level 3
02-06-2023
07:11 PM
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The solution is as simple as scrolling down to Basis Carryovers on the Shareholder Basis (7203) screen and selecting the type of loss carryover on the state column.
