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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)?
‎January 8, 2021
11:30 AM