Form 7203 - Shareholder Stock and Debt Basis Limitation  

Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, is used by the S corporation shareholder to calculate and report their stock and debt basis. According to the Form 1040, Schedule E instructions, Form 7203 should be attached to an individual shareholder's tax return when a basis computation is required. This course discusses the loss limitations applicable to S corporation shareholders, how stock and debt basis are calculated, reporting current and carryover losses, and utilizing suspended losses. This course is most beneficial to professionals new to the shareholder stock and debt basis limitation who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to completing Form 7203.