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Returns and Allowances on 1120s Has An Issue
I imported my tax info from Quickbooks into TurboTax Business. QB imports Returns and Allowances as a negative number. TurboTax Business states the value cannot be negative and I must change it to a positive value to proceed. TurboTax Business adds the positive value to my sales. To make the numbers correct I entered an offsetting adjustment (2X the return amount) under COGS. Is a fix forthcoming?
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March 6, 2022
2:54 PM