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Get your taxes done using TurboTax
I am using form 1065. I am sure it is some simple thing I am overlooking.
I would think if the book balances with the 3 items as an expense, then I remove those items from "Expenses" and move them to "Assets to be Depreciated" the books should still balance, but the liabilities and capital is -$47,700 (negative $47,700) when I remove the expenses and put them in Assets to be depreciated.
No matter what, it is $47,700... so I am thinking I need to do 1 more thing when I remove the 3 items from "Expense" to "Assets to be Depreciated".
‎December 15, 2024
10:35 AM