I started an LLC in 2018 with my wife. We only had startup expenses during 2018 and put all purchases on a credit card. We invested no money into the business except enough to pay the monthly minimum credit card balance. On the Schedule L, should I only list the end of year credit card balance as a current liability? I believe doing this would make the Schedule L out of balance. How do I handle this situation? Note, the expenses for the year were entered into the appropriate boxes on the Form 1065. Do I need to list the expenses for the year on the Schedule L as well and the credit card balance?
