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While the TaxAct program does not support Form 7203 for 1040 returns, we do support the ability to attach the shareholder’s basis worksheet when required. In order to see this option during the e-filing steps, the "basis computation required" field must be checked on the Schedule K-1 (1120-S).

  1. From within your TaxAct return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
  2. Click the Business Income dropdown, then click S Corporation income (Form 1120S Schedule K-1).
  3. On the screen titled S Corporation - Corporation Details, click the checkbox next to Basis computation required.

During the e-filing steps, you’ll be presented an option to "Attach Documents." Click the button and then follow the prompts to attach the pdf(s).

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