- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Balance Sheet & Dealing With TTAX Rounding
I have attempted to put all the figures from Quickbooks faithfully into Turbotax SCORP. Unfortunately, Turbo Tax routinely rounds assets and other numbers. Because of my income level I am now required to complete a Balance Sheet in Turbo Tax to be able to file.
Turbo tax demands that my Quickbooks and Turbo tax match EXACTLY or I will be prevented from filing.
How exactly am I supposed to do that with the rounding?
I am off by $1 so I am now am being forced to fudge Turbo Tax. Basically, I now report $1 less for one of the assets. But this puts me out of sync with what I have in Quickbooks. I am not clear why there is a balance sheet requirement when rounding is likely going to interfere.
Topics:
March 9, 2024
7:12 AM