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Intuit

Can I skip the Balance Sheet section?

You can skip the Balance Sheet section if all of the following are true:

  • Total business income (before deductions) is under $250,000.
  • Your business is not filing an Alabama, Connecticut (non-partnership), District of Columbia, Georgia, Kentucky, Louisiana, Massachusetts, Mississippi, New Jersey (non-partnership), New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, or Tennessee return
  • Corporation year-end assets are under $250,000 or partnership/LLC year-end assets are under $1,000,000.
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