Are you required to include the balance sheet on the S-Corp return? You can skip the Balance Sheet section if:
- Total business income (before deductions) is under $250,000; and
- 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; and
- Corporation year-end assets are under $250,000 or partnership/LLC year-end assets are under $1,000,000.
If you must include the balance sheet, this article may help: How do I reconcile my balance sheet in TurboTax? You may need to adjust one of the source numbers in order for the numbers to add properly (depending on how far off the totals are).
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