turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jjim
Level 1

Form 1120S schedule L Balance Sheet

I have an accountant to file the tax return for my S Corp for the last few years and decided to do it myself with TurboTax software. I realized the info they put on the Balance sheet is not correct. Or I have no idea how they came up with the numbers. 

 

Should I entered the correct numbers this year or followed what was reported on last year's balance sheet for this year? Like use last year-end balances for this year's beginning balance? 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Form 1120S schedule L Balance Sheet

use the correct numbers. you filing under penalties of perjury but I've never heard of anyone being prosecuted because the balance sheet was incorrect.

 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question