AliciaP1
Expert Alumni

Business & farm

Just by marking the tax return as final and skipping the balance sheet section will solve your problem.  Since the assets of the business at year-end are less than $250,000 (the requirement to file is assets and income over $250,000 for an S-Corp) you are not required to complete the balance sheet.  Be sure to list the $10,000 distributions for each shareholder as well.

 

@mmdevost

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