@Rhyme2096 wrote:
I cannot figure out how to enter opening balances and how the numbers from Form 8594 flow into balance sheet.
TurboTax Business, frankly, does not provide a plethora of support with respect to balance sheet entries (or the balance sheet in general). In fact, many of the entries will most likely have to be entered manually, either in the balance sheet section of the program (Federal Taxes tab>>Balance Sheet) or in Forms Mode on Schedule L. Examples would be your beginning cash position, receivables acquired, and any loans from partners.
However, the program should automatically pick up (on the balance sheet) items entered into the appropriate sections of the program, such as beginning and ending inventory, depreciable assets, accumulated depreciation, et al.
