annie66
New Member

Business & farm

What about the beg balance sheet?  I have a SMLLC that has previously filed Sch C, but now on 1/1/20 will be an S-Corp.  On the 2020 1120S, is $0 reported for all beginning balance sheet accounts, or do we enter the ending 12/31/19 SMLLC balances (cash, fixed assets, retained earnings)?