IreneS
Intuit Alumni

Business & farm

That value usually comes from the prior year Form 1065, Schedule L if you transfer info in from the previous year.  But that is not the situation in your case.

First check you entries in the interview:

  1. Click on the Federal Taxes > Balance Sheet > Continue.
  2. On the screen, Your Reconciliations and Balance Sheet, click the Edit box next to Balance Sheet [Screenshot #1, below.]
  3. On the Select Your Entry Method screen, click the Quick Entry box.  [Screenshot #2 ]
  4. On the Enter Your Assets screen, make sure there is either a zero or no entry in the Cash Beginning of Year box.  [Screenshot #3]

If the wrong figure still shows on Schedule L (Row 1 column b), you can go into Forms Mode, open the Schedule L and override the value.  To override, put your cursor arrow in the box, right-click and select Override from the pop-up menu.    [Screenshot #4]

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