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Last year (2020) I switched to TurboTax Business after many years with H&R Block SW. I had to enter everything from scratch, but thought it was a one time deal. But now I see nothing from the balance sheet and K1 carried over from last year to this year. What the heck?
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Which type of return (e.g., 1120-S, 1065)?
I have a couple of test returns and both the balance sheet figures and K-1 (Item L) figures transferred,
Okay, I don't know why that happened. I just entered the numbers by hand. But now this year's info isn't autofilling into the balance sheet. For example, I went through 4797 to report the sale of a property, but it isn't changing my remaining asset value in the balance sheet. When I go to the worksheet for that field or to the step by step, it says I have entered no assets. Of course I have assets, and I have asset entry worksheets and depreciation schedules...
There are certain line on the balance sheet that TurboTax "auto-calculates" and lines that it does not.
As a result, you need to enter those items manually (either in Forms Mode) or the balance sheet section of Step-by-Step.
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