Form 1120s schedule L line 1 - HELP

[PTGeek]

TT has my "cash" line 1 incorrect for beginning of tax year. It will not let me click on it and correct it. Is it pulling that number from somewhere else?  Where do I go to make the correction? 

[Anonymous_]

You should be able to enter your beginning cash in the Quick Entry section for your Balance Sheet.

[PTGeek]

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 :( 

[Anonymous_]

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?

[PTGeek]

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 :( 

[Anonymous_]

[Anonymous_]

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@PTGeek wrote:

Also makes me wonder if I need to amend last year's return :( 

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Yes. you should absolutely check your 2021 return.