You should be able to enter your beginning cash in the Quick Entry section for your Balance Sheet.
turns out the issue is in my retained earnings from start of year (line 24). I cannot click on that field and adjust it. Is that pulling in from last year's info or can I manually adjust it?
In the quick view it says "edit this box in the retained earnings reconciliation"... where is that??? I am so close :(
Those figures are definitely being pulled in from last year if you transferred your 2021 1120-S prepared with TurboTax Business into the 2022 edition. Were your ending figures inaccurate?
ugghh. Is there any way to "override" that?
Can I start a new return and enter all the info manually??? I'd hate to do that but there does not seem to be any other way. Also makes me wonder if I need to amend last year's return :(
@PTGeek wrote:Also makes me wonder if I need to amend last year's return :(
Yes. you should absolutely check your 2021 return.